30 June 2022

PMBok 7th Risk Management : Monitor and Close Risks

PMBok 7th Risk Management : Monitor and Close Risks

  • Task 1 : Gather and analyze performance data
    • Reconcile performance data & reports from risk relevant work packages
    • Analyze data to determine the completion status against the baseline
    • Perform a variance analysis
    • Monitor impact against overall project risk exposure to enterprise
  • Task 2 : Monitor residual & secondary risks
    • Monitor risk response and document residual risk
    • Monitor risk response for secondary risks
    • Assess impact of residual and secondary risks on project objectives
    • Update and communicate impact of residual and secondary risks
  • Task 3 : Provide information required to update relevant project documents
    • Aggregate and summarize risk data, and update project documents
      • Risk register
      • Lessons learned
      • Project management plan
      • Change logs
      • etc.
    • Monitor and close out expired risks
  • Task 4 : Monitor project risk levels
    • Assess project risk level
    • Prepare reports for different stakeholders
    • Communicate risk levels to key stakehold

PMI-RMP Certification exam flashcards

Created : 23/05/2022

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