CHAPTER 5

Controlling: Continuing Risk Management

The bitterness of poor quality remains long after the sweetness of meeting the schedule has been forgotten.

—UNATTRIBUTED

As defined by the Project Management Institute in the PMBOK® Guide, continuing risk management is part of the project controlling processes, as pictured in Figure 5-1. Continuous risk management is as important as risk planning. It is one thing to plan for risks that may occur; it is another to ensure that previously identified risks and assumptions do not introduce the possibility of failure.

Figure 5-2 outlines a process for continuing risk management. As shown, there are ...

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