Some of the most used risk management tools and techniques are:
Root Cause Analysis: This risk analysis technique focuses on cause of the problem and analyses if the effects can be prevented completely.
The Delphi Technique: Under this technique, a panel of experts provides answers to questions sequentially.
Benchmarking: This technique focuses on analyzing the anomalies in benchmarking data. This helps detect risks that went unnoticed earlier.
Diagramming Techniques: This includes cause and effect diagrams along with other graphical tools like flow chart and influence diagrams to analyse risks.