The various risk factors that can affect the project performance need to be assessed continuously but a comprehensive risk analysis of a project is undertaken at least three times:
• Initially by the Government as a part of the project development process
• At the time of bidding, by the prospective bidders
• By financial investors, lenders and equity providers, before investment
If risk analysis is comprehensively done as part of the project development process, there will be fewer surprises later and private investors and lenders will have greater confidence in the project, ensuring quick and efficient financing.