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PMP Preparation Course [PMBOK V.6]

Monitor Risks
With

Sherif Sabri, PMP®

Sherif Sabri, PMP®

 Monitor Risks

 Overview
 Monitor Risks - Inputs
 Monitor Risks - Tools & Techniques
 Monitor Risks - Outputs

Sherif Sabri, PMP®

 OVERVIEW

Monitoring &
Controlling
Risk performed
throughout
Process No. (7) the project
Process No. (10)
 OVERVIEW
The process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying
and analyzing new risks, and evaluating risk process effectiveness throughout the project.

The key benefits of this process is that

- it enables project decisions to be based on current information about overall project risk exposure and individual project
risks.

MONITOR RISKS
Inputs Tools & Techniques Outputs
.1 Project management plan .1 Data analysis .1 Work performance information
• Risk management plan • Technical performance analysis .2 Change requests
• Reserve analysis .3 Project management plan updates
.2 Project documents • Any component
• Issue log .2 Audits .4 Project documents updates
• Lessons learned register • Assumption log
• Risk register .3 Meetings • Issue log
• Risk report • Lessons learned register
.3 Work performance data • Risk register
• Risk report
.4 Work performance reports .5 OPA updates
 OVERVIEW

The Monitor Risks process uses performance information generated during project execution to determine if:
 Implemented risk responses are effective,
 Level of overall project risk has changed,
 Status of identified individual project risks has changed,
 New individual project risks have arisen,
 Risk management approach is still appropriate,
 Project assumptions are still valid,
 Risk management policies and procedures are being followed,
 Contingency reserves for cost or schedule require modification, and
 Project strategy is still valid.
 Monitor Risks - Inputs

1-PROJECT MANAGEMENT PLAN

 Risk management plan; provides guidance on:

 How and when risks should be reviewed,

 Which policies and procedures should be followed,
 The roles and responsibilities in the monitoring process, and reporting formats.

2-PROJECT DOCUMENTS
 Issue log: is used to see if any of the open issues have been updated and necessitate an update to the risk
register.
 Lessons learned register: Risk-related lessons from earlier in the project can be applied to later phases in
the project.

 Risk register: has key inputs that include identified individual project risks, risk owners, agreed-upon risk
responses, and specific implementation actions.

 Risk report: includes an assessment of the current overall project risk exposure, as well as the agreed-upon
risk response strategy. It also describes the major individual project risks with their planned responses.
 Monitor Risks - Inputs

3-WORK PERFORMANCE DATA

 Contains data on project status such as

 Risk responses that have been implemented,
 Risks that have occurred,
 Risks that are active
 Risks that have been closed out.

4-WORK PERFORMANCE REPORTS

 Provide information from performance measurements that can be analyzed to provide project work performance
information including:

 Variance analysis,
 Earned value data,
 Forecasting data.
 Monitor Risks - Tools &Techniques

1-DATA ANALYSIS
 Technical performance analysis:

 Compares technical accomplishments during project execution to the schedule of technical achievement.
 Deviation can indicate the potential impact of threats or opportunities.

 Reserve analysis:

 Reserve analysis compares the amount of the contingency reserves remaining to the amount of risk remaining at
any time in the project in order to determine if the remaining reserve is adequate.
 Monitor Risks - Tools &Techniques

2-AUDITS  Risk audits are a type of audit that may be used to consider the effectiveness of the risk
management process.
 The project manager is responsible for ensuring that risk audits are performed at an
appropriate frequency, as defined in the project’s risk management plan.
 Risk audits may be included during routine project review meetings or may form part of
a risk review meeting, or the team may choose to hold separate risk audit meetings.
 The format for the risk audit and its objectives should be clearly defined before the audit
is conducted.

3-MEETINGS
 Meetings that can be used during this process include but are not limited to risk reviews

 Risk reviews are scheduled regularly and should examine and document the
effectiveness of risk responses in dealing with overall project risk and with identified
individual project risks.
 Monitor Risks - Outputs

1-WORK PERFORMANCE INFORMATION

 Includes information on how project risk management is performing by comparing the individual risks that have occurred
with the expectation of how they would occur.

 This information indicates the effectiveness of the response planning and response implementation processes.

2-CHANGE REQUESTS

 The Monitor Risks process may result in a change request to the cost and schedule baselines or other
components of the project management plan.

3-PROJECT MANAGEMENT PLAN UPDATES

 Any change to the project management plan goes through the organization’s change control process via
a change request. This may affect any component of the project management plan.
 Monitor Risks - Outputs

4-PROJECT DOCUMENTS UPDATES

 Assumption log: During the Monitor Risks process, new assumptions may be made, new constraints may be
identified, and existing assumptions or constraints may be revisited and changed. The assumption log is updated
with this new information.
 Issue log: Where issues are identified as part of the Monitor Risks process, these are recorded in the issue log.
 Lessons learned register: is updated with any risk-related lessons learned during risk reviews so these can be
used on later phases of the project or in future projects.
 Risk register: is updated with information on individual project risks generated during the Monitor Risks process.
This may include adding new risks, updating outdated risks or risks that were realized, updating risk responses,
and so forth.
 Risk report: As new information becomes available through the Monitor Risks process, the risk report is updated
to reflect the current status of major individual project risks and the current level of overall project risk.

5-ORGANIZATIONAL PROCESS ASSETS UPDATES

 Templates for the risk management plan, risk register, and risk report; and
 Risk breakdown structure.
THANKS FOR WATCHING

Together We will get it done

Sherif Sabri, PMP®