Risk management isn’t just something you do at the start of the project. You must keep monitoring the risks and change things if the control actions aren’t working. Then you may notice new risks as you work through the project and, of course, they’ll need managing too.
This example of a risk cycle is from the PRIME project method and it’s unusual because the model allows for action and monitoring to continue if review shows that everything is okay. The model helps you keep a clear picture of what you are doing when managing risks during the project.
In this part …