Some project managers start their projects with a strong focus on risk management. However, somewhere along the way, they lose steam. They spend more time dealing with issues and implementing workarounds. In this article, I am providing questions that can help you in monitoring project risks and as a result, achieve better results.
Other project managers start out strong and stick with their risk management. When problems occur, they turn to their risk response plan. They run toward their risk management tools and techniques to aid them. Consequently, these project managers spend less time responding to issues.
In my last article, we looked at What Every Project Manager Should Know About Monitoring Risks where we reviewed the definition for Monitor Risk. The Project Management Body of Knowledge (PMBOK) 6th Edition defines Monitor Risks as “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.”
Monitoring risks is an ongoing activity, not a one-time event. The frequency varies depending on the project. Some project managers review risks with their team in their weekly project meetings, while others who manage agile projects discuss risks and obstacles in their daily standup meetings.
Perhaps you struggle with the practicality of monitoring risks. It seems like a vague notion. Hence, here are some questions that can help you and your team on the right track.
Question: What other questions would you add to this list?
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