Project Risk Management: A Practical Implementation Approach

CHAPTER

11

Monitoring and Controlling Project Risks

Establishment of a balanced project plan is the first major outcome of the project risk management process. The process of identifying, analyzing, and developing response strategies for project risks facilitates achieving that goal, because understanding project risks is a key aspect of the “balanced” project plan. Monitoring and controlling project risks by extending this practice throughout the course of the project life cycle is the last step of the process. One can make an argument that monitoring and controlling a project, in general, is fundamentally project risk management. Thus, the beginning of this chapter addresses the general process of monitoring and controlling projects, ...