In most documents there is a section on assumptions e.g. We assume that the network is well within the realms of supporting this solution.
- At what point does it become a risk?
- Where does the risk lie e.g. project, operations, business, all?
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We create assumptions because we don't have the answer to a question. If we don't have an answer to a question, that means we have uncertainty. If that uncertainty is tied to an objective, it is then a risk. This mean, the moment you create an assumption, you have a risk, and it remains a risk until either you find the assumption was correct or you mitigated the risk to the point where you can accept it.
Where it lies is dependent up on the assumption. That would be part of your risk assessment.