A further definition from The (Alternative) Legal Costs Dictionary:
Risk assessment n. document that identifies the litigation risks of the case which is prepared prior to there being sufficient evidence available to identify the litigation risks of the case. A document carefully and methodically drafted to suggest a level of risk such as, if it actually existed, would mean the lawyer would not touch the case with a ten-foot bargepole but which will hopefully persuade a judge several years later to allow a 100% success fee.
also;-
a non existant document jealosly guarded by the claimant draftsman trying to pretend it is real, whilst they put forward their own version, little realising that everything they say their client took into account at the outset, wasnt in the forum until afterwards – that is, when they actually remember or understand CPD 32.5
Anonymous – In my experience I have to go with your definition!