2014 © Avenew Indonesia Module #08 Control Risk

2014 © Avenew Indonesia Module #08 Control Risk

• Control risks will be implementing risk response plans,

tracking identified risks, monitoring residual risks,
identifying new risks, and evaluating risk process
effectiveness throughout the project.

INPUTS TOOLS & TECHNIQUES OUTPUTS

• Project Management • Risk Reassessment • Work Performance

Plan • Risk Audits Information
• Risk Register • Variance and Trend • Change Requests
• Work Performance Analysis • Project Management
Data • Technical Performance Plan Updates
• Work Performance Measurement • Project Document
Reports • Reserve Analysis Updates
• Meetings • Organizational
Process Assets
Updates
2014 © Avenew Indonesia Module #08 Control Risk

Risk management plan Including identified risks

Work Performance Data

has been incorporated in and risk owners, agreed-

the overall project plan upon risk responses,
Use this document that control actions for
provides guidance for assessing the
risk monitoring and effectiveness of

Risk Register
controlling. response plans, risk
responses, specific
implementation actions,
symptoms and warning
signs of risk, residual and
secondary risks, a watch
list of low-priority risks,
and the time and cost
contingency reserves.
2014 © Avenew Indonesia Module #08 Control Risk

Work Performance Data

• To know how well the performance that results possibly
impacted by risks includes, but is not limited to:
Deliverable status, Schedule progress, and Costs
incurred.
• To validate how effective your risk management has been.
• Good performance indicates good risk management.
Work Performance Report
• Work performance information including variance
analysis, earned value data, and forecasting data that
could be impactful in controlling performance related risks.
2014 © Avenew Indonesia Module #08 Control Risk

Discovered new risks

Conditions change in the project so that risks might increase or

decrease probability and impact

Risk might not happen and, thus, need to be closed

Should be regularly scheduled as changes in risk continue.

Remember the differences between risk

assessment and risk reassessment
2014 © Avenew Indonesia Module #08 Control Risk

To check the effectiveness of your risk

management.

Periodic Risk Audits should be performed

to evaluate the strengths and weaknesses
of the overall Risk Management Process.

May use templates and involve some

stakeholders.
2014 © Avenew Indonesia Module #08 Control Risk

Tools & Techniques Description

Variance and Trend Indicate how effective your risk management is.
Analysis Trends in the project’s execution should be
reviewed using performance information by
comparing planned results with actual results.
Technical Performance Determines if the actual technical performance
Measurement achieved matches planned technical performance
specification.
Reserve Analysis Compares how many reserves are remaining to
the amount of the remaining risks. May increase or
decrease the reserve based on the analysis.
Meetings Frequent interactively meetings with project team
and stakeholders
2014 © Avenew Indonesia Module #08 Control Risk

Outputs Description
Work Performance Provides a mechanism to communicate and support project
Information decision-making.
Change Requests Change requests dealing with risks management can include
recommended corrective and preventive actions as well.
 Recommended preventive actions to prevent risks from
happening (i.e. new risks identified through risk
reassessment).
 Recommended corrective actions for risks that already
happened and want to reduce their impact on the project.
Include contingency plans and workarounds.
Project Management Corresponding component documents of the project
Plan Updates management plan are revised and reissued to reflect the
approved changes.
2014 © Avenew Indonesia Module #08 Control Risk

Outputs Description
Project Document  Outcomes of risk reassessments, risk audits, and
Updates periodic risk reviews.
 Actual outcomes of the project’s risks and of the
risk responses.
Organizational  Templates for the risk management plan, including
Process Assets the probability and impact matrix and risk register,
Updates  Risk breakdown structure, and
 Lessons learned from the project risk
management activities.
2014 © Avenew Indonesia Module #08 Control Risk

 Entire Risk Register

 Negative Risk
 Positive Risk
 Top 3 Negative Risks
 Top 3 Positive Risks
 Most ‘Interesting’ Risks
 Significant Challenges
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