Information & Technology Management Standards

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Project Risk Management

To enable the successful completion of a project, risk must be identified, analyzed, understood and managed in a proactive manner.

PMBOK® 2000 describes Risk Monitoring and Control as "the process of keeping track of identified risks, monitoring residual risks and identifying new risks, ensuring the execution of risk plans, and evaluating their effectiveness in reducing risk." (Page 144).

Risks must be actively addressed. Risks should be assessed with the management team on an on-going basis, and at the start of each new phase. If a risk event occurs (i.e. is triggered), the Risk Management Plan for that risk should be reviewed, adjusted as necessary, and followed.

Template		Contact
	Risk Information Sheet Template		Project Coordinator

Related Deliverables

Prerequisite Deliverable
	Master Project Plan or
	Master Project Plan Light or
	Project Charter

Related Standards

Project Managers report status to the Project Delivery Office using the standard template by the end of day on the second and fourth Thursday of every month.

 

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