Ongoing reviews and support

As the project progresses, it undergoes ongoing risk reviews, covering management and mitigation plans, actions and deadline.

The team is encouraged to review the risk assessment through the life of the project, as part of its ongoing management and controls. This serves to keep the understanding of risk up to date, and to monitor progress and effectiveness of mitigation measures.

The reviews consist of:

• bringing the project team together to review the risk assessment;
• producing an updated risk report to reflect the current status of the risk to the project;
• updating management with interpretations and recommendations from the risk assessment.

The risk coordinator, nominated in the risk management plan, should take responsibility for holding the reviews and maintaining the risk register, as well as ensuring recommendations are implemented, and mitigations are followed up and monitored.

Projects typically review their risk assessment as part of their regular project reviews during the life of the project - typically every few months.