Risk Monitoring and Control: Outputs

.1 Risk Register (Updates)

An updated risk register contains:

• Outcomes of risk reassessments, risk audits, and periodic risk reviews. These outcomes may include updates to probability, impact, priority, response plans, ownership, and other elements of the risk register. Outcomes can also include closing risks that are no longer applicable.

• The actual outcomes of the project's risks, and of risk responses that can help project managers plan for risk throughout the organization, as well as on future projects. This completes the record of risk management on the project, is an input to the Close Project process (Section 4.7), and becomes part of the project closure documents.

.2 Requested Changes

Implementing contingency plans or workarounds frequently results in a requirement to change the project management plan to respond to risks. Requested changes are prepared and submitted to the Integrated Change Control process (Section 4.6) as an output of the Risk Monitoring and Control process. Approved change requests are issued and become inputs to the Direct and Manage Project Execution process (Section 4.4) and to the Risk Monitoring and Control process.

.3 Recommended Corrective Actions

Recommended corrective actions include contingency plans and workaround plans. The latter are responses that were not initially planned, but are required to deal with emerging risks that were previously unidentified or accepted passively. Workarounds should be properly documented and included in both the Direct and Manage Project Execution (Section 4.4) and Monitor and Control Project Work (Section 4.5) processes. Recommended corrective actions are inputs to the Integrated Change Control process (Section 4.6).

.4 Recommended Preventive Actions

Recommended preventive actions are used to bring the project into compliance with the project management plan.

.5 Organizational Process Assets (Updates)

The six Project Risk Management processes produce information that can be used for future projects, and should be captured in the organizational process assets (Section 4.1.1.4). The templates for the risk management plan, including the probability and impact matrix, and risk register, can be updated at project closure. Risks can be documented and the RBS updated. Lessons learned from the project risk management activities can contribute to the lessons learned knowledge database of the organization. Data on the actual costs and durations of project activities can be added to the organization's databases. The final versions of the risk register and the risk management plan templates, checklists, and RBSs are included.

.6 Project Management Plan (Updates)

If the approved change requests have an effect on the risk management processes, then the corresponding component documents of the project management plan are revised and reissued to reflect the approved changes.