Although business, industry, government, nonprofit organizations, and project sponsors would pay handsomely for a sure technique to correctly assess potential project hazards, no such system exists and probably never will. There are, however, guidelines to follow. Raising the right questions and asking them of experts, as previously noted is crucial. There are, however, thousands of questions one might ask and no one has the time or resources to explore them all.
When significant possibilities of potential hazards have been identified, the next step requires developing strategies to mitigate them. There are no magic solutions here either. Again, guidance from others and good judgment can lead to plans to lessen the impact of a significant external risk.
Sometimes problem assessment warns, "Do not try this project."