What practice involves analyzing identified risks or opportunities in the context of CMMI?

The practice of analyzing identified risks or opportunities in the context of CMMI is encapsulated within Risk and Opportunity Management. This practice focuses on identifying, assessing, and managing risks that might negatively impact a project's outcomes, as well as recognizing opportunities that could enhance those outcomes. Properly managing risks and opportunities ensures that an organization can make informed decisions, mitigating potential downsides while capitalizing on favorable conditions or situations.

Risk and Opportunity Management aims to create a structured approach for dealing with uncertainties in projects. This includes not just the initial identification of potential risks and opportunities but also evaluating their significance, determining appropriate responses, and creating proactive strategies that support organizational goals.

Other practices, like Risk Assessment, tend to focus more narrowly on evaluating specific risks rather than developing a broader strategy to manage both risks and opportunities. Quality Assurance is primarily concerned with maintaining the standards of project deliverables and processes, and Process Asset Development involves the creation and maintenance of organizational process assets, rather than risk evaluation. Therefore, it is the comprehensive nature of Risk and Opportunity Management that aligns it with the core CMMI framework for effectively addressing uncertainties in projects.