Risk Monitoring is the activity of checking and reporting on known risks throughout a project’s lifecycle. It ensures that risks are managed effectively and that stakeholders are informed.
Key Activities:
- Regular Reviews: Schedule periodic assessments of identified risks.
- Status Updates: Communicate changes in risk status to stakeholders.
- Documentation Updates: Keep records current with new information about risks.
Benefits:
- Ensures timely responses to emerging issues
- Provides transparency for stakeholders
- Supports continuous improvement in risk management practices