Process
Areas
(staged)

Level 2
 
REQM
 PP
 PMC
 SAM
 MA
 PPQA
 CM
Level 3
 
RD
 TS
 PI
 VER 
 VAL 
 OPF
 OPD
 OT
 IPM
 RSKM
 DAR
Level 4
 
OPP
 QPM
Level 5 
 
OPM 
 CAR

      5. Process Areas
          5.12. Project Monitoring and Control
              SG 1 Monitor the Project Against the Plan
 SP 1.3 Monitor Project Risks 
Process AreaPMC
Level2
GoalSG 1
PracticeSP 1.3

Monitor risks against those identified in the project plan.

Refer to the Project Planning process area for more information about identifying project risks.

Refer to the Risk Management process area for more information about identifying potential problems before they occur so that risk handling activities can be planned and invoked as needed across the life of the product or project to mitigate adverse impacts on achieving objectives.

Example Work Products

1.    Records of project risk monitoring

Subpractices

1.    Periodically review the documentation of risks in the context of the project’s current status and circumstances.

2.    Revise the documentation of risks as additional information becomes available.

As projects progress (especially projects of long duration or continuous operation), new risks arise. It is important to identify and analyze these new risks. For example, software, equipment, and tools in use can become obsolete; or key staff can gradually lose skills in areas of particular long-term importance to the project and organization.

3.    Communicate the risk status to relevant stakeholders.

Examples of risk status include the following:

·       A change in the probability that the risk occurs

·       A change in risk priority



Process
Areas
(continuous)


Process
management  
 
OPF
 OPD
 OT  
 
OPP  
 OPM

Project
management
 
PP
 PMC 
 REQM 
 
SAM  
 
IPM
 RSKM
 
QPM

Engineering
 
RD 
 TS
 PI
 VER 
 VAL
Support
 
CM
 PPQA
 MA
 
DAR
 CAR