Vermont's largest metropolitan area depends upon on a single source of electrical power. With massive ice storms and blizzards not uncommon, power outages posed a danger, not just to business and property, but to life itself! VELCO was therefore required to provide a redundant electrical feed into the area to meet regional reliability criteria. The catch: a previous large transmission project had resulted in a firestorm of public outcry about the need, aesthetics, and cost of transmission projects in general. In order for the new project the East Avenue Loop Project to proceed, the VELCO leadership had to craft a strategy for anticipating and proactively addressing possible project risks. If they could defuse the environmental and cost issues on this project, they reasoned, future projects would also benefit from an atmosphere less fraught with hassles and holdups. Of course, the $35.7 million capital project then had to be managed to meet cost and schedule estimates, as well as the commitments made to state regulators and the public.

What steps should be followed for identifying project risks?

What are the inputs required for project risk management process for this project?