Risk Monitoring Report

Definition

Risk Monitoring Report
(a.k.a., Risk Log, Risk Register)

a risk management work product that documents the actions taken to control the significant risks to the success of an endeavor

Classification

As illustrated in the preceding figure, Risk Monitoring Report is part of the following inheritance hierarchy:

• Type: Concrete
• Superclass: Document
• Subclasses:
  • None

Responsibilities

The typical responsibilities of a Risk Monitoring Report are to:

• Formally document the actions:
  • Planned to control risks.
  • Actually taken to control risks.
• Ensure that risks are actually controlled.

Contents

A risk monitoring report typically has the following contents:

• Risk Control Actions
  For each risk:
  • Name and Description
  • Date Identified
  • Actual Risk Control Actions
  • Technique Used
  • Date Actions Taken
  • Owner
  • Resources Utilized
  • Risk Level (e.g., High/Medium/Low)
  • Status (e.g., Accepted, Avoided, Mitigated, Transferred)
• Appendices:
  • Major Issues
  • TBDs
  • Assumptions

Stakeholders

A risk monitoring report typically has the following stakeholders:

• Producer:
  • Project Management Team
• Evaluators:
  • Project Team
• Approvers:
  • Technical Leader
  • Project Manager
  • Customer Representative
• Maintainers:
  • Project Management Team
• Users:
  • Project Team

Phases

A risk monitoring report is typically produced and maintained during the following phases:

• Business Strategy: Completed
• Business Optimization: Completed
• Initiation: Completed
• Construction: Completed
• Initial Production: Completed
• Full-Scale Production: Completed
• Delivery: Completed
• Usage: Completed
• Retirement: Completed

Preconditions

A risk monitoring report can typically be started if the following preconditions hold:

• The project has started.
• The project management team is properly staffed and trained in the risk monitoring task and associated techniques.

Inputs

A risk monitoring report typically has the following inputs:

• Work Products:
  • Risk Management Plan
  • Risk Analysis
• Stakeholders:
  • Program Management Team or Project Management Team
  • Requirements Team
  • Architecture Team
  • Environments Team
  • Technical Leader

Guidelines

• The risk monitoring report is a view on the content of the risk repository.
• This is a living document that must be maintained and updated as risks change.
• Minimize redundancy between the risk monitoring report and the risk repository.
• Use the procedure in the associated work flow to produce this work product.
• If you tailor this work product, then tailor its associated standard, template, and inspection checklist.

Conventions

Risk Monitoring Report is typically constrained by the following conventions:

• Work Flow
• Content and Format Standard
• MS Word Template
• XML Template
• Inspection Checklist

Examples

• Example Risk Monitoring Report