Updating the Risk Register

Are you noticing a theme here? Every time new information about the project's risks is learned, the risk register has to be updated. Since I'm dealing with risk responses in this section, the updates to the risk register are:

• Identified risks and how each one can threaten the project

• Risk owners and their responsibilities for the risk events

• Risk response strategies and the responses to risk events

• Symptoms and warning signs of risk

• Budget and schedule impact of the risk response activities

• Contingency reserves for time and costs

• Contingency plans and triggers to implement the plan

• Fallback plans

• Residual risks (these are risks that are expected to remain after a risk response)

• Secondary risks (these are new risks that are created as a result of a risk response)

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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