Mastering Risk and Procurement in Project Management: A Guide to Planning, Controlling, and Resolving Unexpected Problems

9. Close Risk Events

9.1 Introduction

Project managers will more than likely have to respond to risks of some kind on each work activity they manage. Some of these risks may be more complicated than others, and the response designed for each risk can be equally as complex or simple. When a response has been initiated, there can be a variety of things required in the response, and the project manager or owner of the risk response must carry out all requirements and the corresponding responses. Some responses may be simple, such as a task that needs to be carried out by an individual that, once completed, can be considered closed, having effectively addressed the risk; some responses may be very complex, requiring several individuals engaged in ...