5.5. Monitor and Control Risks

The Monitor and Control Risks process involves implementing response plans, tracking and monitoring identified risks, identifying and responding to new risks as they occur, and improving the risk management processes. This process is also concerned with the following:

  • Evaluating risk response plans that are put into action as a result of risk events

  • Monitoring the project for risk triggers

  • Reexamining existing risks to determine if it's changed or should be closed out

  • Monitoring residual risks

  • 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 contingency ...

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