Assumptions analysis refers to a specific technique that is used by project team members to minimize risks involved in making assumptions during the process of planning a particular project. The process in which this analysis takes place is fairly straightforward, yet is essential to minimizing risk. The project team members must identify and document all of the assumptions being made during the project planning process, and then on a one by one basis, identify the risks that exist as a result of each assumption to the project based on the potential inaccuracies or inconsistencies that the assumption may exhibit. During this process, it may be deemed that the assumption is valid and worth any perceived risk or, in some cases, it may be determined that an assumption is in fact not valid, and an alternate course of action may be recommended and/or implemented outright. Assumptions analysis is a process that likely should be repeated throughout a project’s life.