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

Created : 23/05/2022