Risk Monitoring and Control

• Tools and techniques to Risk Monitoring and Control

These are the five tools and techniques to Risk Monitoring and Control:

    Project risk response audits: Throughout the life cycle of the project, risk auditors examine and document the effectiveness of your risk response in avoiding, transferring, or mitigating risk occurrence, as well as the effectiveness of the risk owner.

    Periodic project risk reviews: Such reviews should be regularly scheduled to monitor the progress and any changes to the project.

    Earned value analysis: EVA is used for monitoring overall project performance against a baseline plan. If a project deviates significantly from the baseline, update your risk identification and analysis. See Appendix A for EVA formulas, charts, and examples.

    Technical performance measurement: This compares technical accomplishments during execution to the plan's schedule of technical achievement. For example, omitting a milestone introduces scope risks.

    Additional risk response planning: If an unanticipated risk emerges, or if its impact on objectives is greater than expected, the planned response may not be adequate. You may require additional response planning to control risk. This provides a feedback loop.
 
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• Monitor and Control Risks Tools and Techniques

http://www.youtube.com/watch?v=LLHduKVJhfo

risk assessment
risk audit
trend analysis
variance analysis
technical performance measurement
status meetings