RAID - The framework successful PM's use to identify and manager obstacles and dependencies

In project management, RAID stands for Risks, Assumptions, Issues, and Dependencies. It’s a framework used by project managers to identify and manage potential obstacles and dependencies that could impact the successful completion of a project. Here’s a brief overview of each component:

• Risk: Uncertain events or conditions that, if they occur, can have an effect on the project outcome.
• Assumption: Conditions believed to be true or things assumed to be in place, upon which the project plan is based.
• Issue: Current challenges or problems that are negatively affecting the project or have the potential to do so if not addressed.
• Dependency: Tasks, milestones, or components that are reliant on one another for their progression or completion.

I found this great article at Smartsheet site that shows how to do it, when to do it, tells you why RAID is important for project management, gives examples and provides you with a list of advantages and disadvantages of RAID, worth reading this short article:

Completing a RAID analysis helps ensure proactive responses and effective communication throughout the project lifecycle.