Preparing for Risk Monitoring and Control

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Risk monitoring and control is an active process. There are several inputs the project team and the project manager must rely on to effectively monitor and control risks, such as:

• The risk management plan

• The risk response plan

• Project communications The results of project work can inform the project manager and the project team of new and pending risks. In addition, project team members may create reports to monitor or document risks. These reports are known as issue logs, action-items, jeopardy warnings, and escalation notices.

• New risk identification Throughout the project life cycle, new risks may surface that the project team and the project manager have not considered. These risks should be fed into the risk management process to identify valid responses.

• Scope changes Change requests should be analyzed for their impact on the project-and for any risks in the change that could affect the project objectives, as well as any new risks the increased scope presents.

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