Which of the following steps in the risk management process involves establishing the scope and potential risks involved with a project?

Risk identification is the correct answer because it is the initial phase where an organization defines the project's boundaries, objectives, and then systematically uncovers potential threats and vulnerabilities that could impact those objectives. This includes brainstorming, reviewing documentation, and consulting experts to create a comprehensive list of risks. Risk assessment involves analyzing the identified risks to determine their likelihood and impact. Risk treatment focuses on developing and implementing strategies to mitigate, transfer, avoid, or accept risks. Risk monitoring and review is an ongoing process to track identified risks, identify new risks, and evaluate the effectiveness of risk treatment plans.