Risk Reassessment

Periodic, scheduled reviews of identified risks, risk responses, and risk priorities should occur during the project. The idea here is to monitor risks and their status and determine whether their consequences still have the same impact on the project objectives as when they were originally planned. Every status meeting should have a time set aside to discuss and review risks and response plans.

Risk identification and monitoring is an ongoing process throughout the life of the project. Risks can change, and previously identified risks might have greater impacts than originally thought as more facts are discovered. Reassessment of risks should be a regular activity performed by everyone involved on the project. Monitor the risk register, including those risks that have low scores, and risk triggers. You should also monitor the risk responses that have been implemented for their effectiveness in dealing with risk. You might have to revisit the Perform Qualitative and Perform Quantitative Risk Analysis processes when new risk consequences are discovered or risk impacts are found to be greater than what was originally planned.

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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