Monitor risks against those identified in the project plan.
Example Work Products
- Records of project risk monitoring
1. Periodically review the documentation of risks in the context of the project’s current status and circumstances.
2. Revise the documentation of risks as additional information becomes available.
As projects progress (especially projects of long duration or continuous operation), new risks arise. It is important to identify and analyze these new risks. For example, software, equipment, and tools in use can become obsolete; or key staff can gradually lose skills in areas of particular long-term importance to the project and organization.
3. Communicate the risk status to relevant stakeholders.
- A change in the probability that the risk occurs
- A change in risk priority