The monitor risk process involves implementing risk response plans, tracking and monitoring identified risks, identifying and responding to new risks as they occur, and improving the risk management process. This enables decisions to be made with the most current information about overall and individual project risks.
Review the Risk Management in Projects article http://www.managementgeneral.ro/pdf/2-2019-6.pdf and discuss the following questions:
• What do you think about the project risk management methodology the author discussed in this article? Share examples to support your perspective.
• In the conclusion section, the author explains, “risk management is not the end of the activity in terms of efficient risk management. It is a constant learning process for project managers to continually improve their practices to increase the efficiency of the process”. Do you agree with this conclusion? Why or why not? Share examples from the article or real life experience.
• Choose one of the risk monitoring principles discussed in the article. How would you use it in the process of planning and conducting the project?
Sample Solution