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5. Risk response planning
involves taking steps to enhance opportunities and
reduce threats to meeting project objectives. Using outputs from the preceding
risk management process that often result in updates to the risk register and
project management plan as well as risk related contractual agreement.
6. Risk
monitoring
and
control
involves
monitoring
identified
and
residual
risk,
identifying new risks, carrying out risk response plans, and evaluating the
effectiveness of risk strategies throughout the life of the project. The main
outputs
of
this
process
include
recommended
corrective
and
preventive
actions,
requested changes and updates to the risk register, project management plan,
and organizational process assets.
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