Monitor & Control Risk Functions

This process is used for -

·         Implementing Risk Response Plans,

·         Tracking Identified Risk,

·         Monitoring Residual Risks,

·         Identifying New Risks &

·         Evaluating Risk Process Effectiveness Thru out the Project.

 

Other functions of this process, includes following:

 

·         Monitoring the project for occurrence of risk triggers

·         Monitoring Residual Risks

·         Identify New Risk and then analyze them and plan them.

·         Evaluate effectiveness of Risk Management Plan.

·         Evaluating Risk Response Plans that are put into action as a result of risk event

·         Develop new Risk Response Plans

·         Reexamining existing risks to determine if they have changed or should be closed out

·         Reassessing project assumptions and determining validity

·         Ensuring that policies and procedures are followed

·         Ensuring that risk response plans and Contingency Plans are put into action appropriately and are effective

·         Ensuring that Contingency Reserves (for schedule and cost) are updated according to the updated risk assessment

·         Evaluating the overall effectiveness of the Risk processes

·         Revisit Watch List to see if additional risk responses need to be determined.

·         Revaluate Risk Identification & Qualitative & Quantitative Risk Analysis  when the project deviates from the baseline.

 

Hope this helps.

 

 

Thanks & Regards,

Arun Manglick, (PMP®, PMI-ACP®, PRINCE2®, CSM®, MS-Project, CSSGB, ITIL V3, MCPD, MTECH)

Project Manager - Forecasting
Mobile: 9158041782| 9850901262| Desk Phone: +912040265348 | http://www.synechron.com

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