Risks assessments should be a key excercise during the project's planning phase. Risks should be kept in a "live" document which must be reviewed frequently. Risks are added as the scope changes and/or progress made. Risks when the become an issue should be documented. reviewed, shared and team/aexpert assigned to start a process to mitigate the risk. In Ford's PM strategy, Clarity and Share Point softwares are utilized for Risk Management.