11.6 Control Risks
The Control Risks process discharges risk responses as outlined in the risk register within the Project Management Plan. It involves, tracking existing risk, identifying new risks, monitoring the effects of previous risk control activities and evaluating how effective the current risk management processes are. Part of the Control Risks process is to actively push the evolution of the risk processes through each iteration of the risk register to the projects conclusion. The Inputs, Tools & Techniques and Outputs for the Control Risk process are listed in figure 44.
Figure 44. Manage Stakeholder Engagement: Inputs, Tools & Techniques, and Outputs. Reprinted from "A Guide to the Project Management Body of Knowledge (PMBOK Guide), 5th Edition" by Project Management Institute, 2013, p.349. Copyright 2013 by Project Management Institute, Inc. Reprinted without permission.
During the Control Risk process risk responses identified in the Risk Register are carried out as planned. While each person associated with the project vigilantly identify new risks to be analyzed, qualified and quantified and responded too. Risks new and old must be monitored as part of this control process for changes in project impact or probability.
The process of controlling risk utilizes a variety of analyses to monitor project variance, trends and performance to identify rising threats or opportunities. This process also documents the disposition of risks already identified whether responded to or not.
As were are winding down towards the end of the portfolio you may be having deja vu. Many of the artifact you've probably seen more than once. Hopefully I haven't exceed my repetitive limits. The reason the project management plan is an input for the control risk management process is it contain many components of risk management plan including the original scope and risk identities. This is a Project Management Plan from PMGT 611. see 11.6.1
Tools & Techniques
The tools and techniques listed in the figure 44 are all identified and discussed in this artifact. I was assigned in PMGT613 to identify a process where we used the risk tools and techniques in my work. As an Air Traffic Controller our main projects are training individuals. It was enlightening to see how these tools have been used. see 11.6.2
Also from PMGT613 we were given a list of risk identified in chapter 7 Exercise 3 page 230 of Larson and Grays, Project Management The Managerial Process (2014) for a soccer team. We had to develop a or update the risk register with the actions to be taken and justifications. This meets this Output as an update to project documents. see 11.6.3