Project Risk Management Page 16
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17How would risks be addressed in project meetings? Answer: By asking,
“what is the status of risks? Any new risks? Any change to the order of
importance?
STEP 6: RISK MONITORING AND CONTROL: This step involves managing
the project according to the risk responses plan and may include the
following activities:
Keeping track of the identified risks
Implementing risk responses
Looking for the occurrence of risk triggers
Monitoring residual risks
Identifying new risks
Ensuring the execution of risk plans
Evaluating the effectiveness of risk plans
Developing new risk responses
Communicating risk status and collecting risk status data
Communicating with stakeholders about risks
Determining if assumptions are still valid
Revisiting low ranking or non-critical risks to see if risk
responses need to be determined
Taking corrective action to adjust to the severity of actual risk
events
Looking for any unexpected effects or consequences of risk
events
Re-evaluating risk identification, qualification and quantification
when the project deviates from the project baseline
Updating risk plans
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