What does assessing risks involve in the context of business analysis?

Assessing risks in the context of business analysis primarily involves understanding uncertainties around changes. This is crucial for identifying potential events that could negatively impact a project or initiative. By evaluating risks, business analysts can ascertain the likelihood and impact of various uncertainties—such as technological changes, market conditions, or resource availability—that might affect the success of the project.

This understanding enables stakeholders to make informed decisions on how to mitigate or manage those risks effectively. It helps in building strategies that are resilient to unforeseen circumstances, ensuring that the business analysis process accommodates the dynamic nature of the business environment.

In contrast, predicting future market trends is more about forecasting than risk assessment; documenting stakeholder feedback pertains to gathering insights rather than evaluating risks; and collecting requirements from users focuses on defining what needs to be accomplished, rather than the uncertainties associated with achieving those goals. Thus, comprehensively understanding uncertainties around changes allows for a better framework within which business analysis can thrive.