Task: Manage risks

Execute, monitor and control risk plan and update if required

Purpose

Ensure that all project risks are identified, assessed and managed.

Relationships

Roles	Primary Performer: Project Manager	Additional Performers:
Process Usage	Project Management > Execute > Manage risks

Steps

Monitor and manage all project risks using the approved Risk Management Plan in the Project Success Plan Sections 1 and 2.

Ensure that every risk is formally:

Identified
Quantified
Monitored
Avoided, transferred, accepted or mitigated

Maintain the Risk Assessment completed in the Project Success Plan Section 1 and Section 2 (Exception Statement).

Communicate risks on a regular basis according to the Communication Plan.

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