Risk Response Control
By holding cyclic risk review meetings, each item can be discussed and action plans and mitigation processes identified, initiated and implemented.
As the project moves through its lifecycle, risks will evolve, become more apparent and have increasing, or decreasing degrees of impact and likelihood.
Risk response control is the process by which risks are kept in the forefront of management discussions and thus, reviewed on a cyclic basis. Items that the risk register will hold in order to monitor and drive this process will include:
- Outstanding action;
- Action owner;
- Action issue date;
- Action status;
- Action response; and
- Action close-out date.