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Table 1 Overview of differences between the treated risk analysis models

From: Extended risk-analysis model for activities of the project

Steps of the reference’s model Steps of the proposed model Differences
1. Establishing the context 1. Preliminary analysis of project risk management - Steps 1 and 2 of reference’s model are combined in one step in the proposed model
- Preliminary analysis of the proposed model refers to the whole project
2. Preliminary risk analysis
3. Detailed risk identification 2. Project risk identification - Step 3 of reference’s model is logically divided into risk analysis of the whole project and then to detailed analysis of risk activities
3. Activity risk identification
4. Detailed risk analysis 4. Qualitative and quantitative analysis of activity risks - Estimate of risk parameters and evaluation of risk are logically connected
5. Detailed risk evaluation
6. Risk treatment (planning) 5. Planning risk management measures - Planning measures is carried out on the basis of risk evaluation, so two steps are not necessary
7. Prepare risk management plan
8. Risk monitoring and control 6. Monitoring, recording, control and feedback  
9. Review 7. Analysis, evaluation and archiving - In the proposed model, emphasis is placed on evaluation and formation of knowledge on the basis of experience obtained in the completed project