Risk Monitoring

Definition

Risk Monitoring

the ongoing risk management task of monitoring the success and status of the other risk management tasks

Classification

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

• Type: Abstract
• Superclass: Engineering Task
• Subclasses: None

Responsibilities

The typical responsibilities of Risk Monitoring are to:

• Determine if:
  • Any aspect of the risk analysis has changed and therefore should be repeated.
  • Any undesirable event defining a risk has actually occurred.
  • The other risk tasks are being performed effectively and efficiently.

Preconditions

Risk Monitoring can typically begin when the following preconditions hold:

• The endeavor is started.
• The associated teams are initially staffed.
• At least one of these teams is adequately trained in risk monitoring including associated techniques and work products.
• The risk management plan exists and has passed evaluation.
• At least some risks have been identified, analyzed, and documented.

Completion Criteria

Risk Monitoring is typically complete when the following postconditions hold:

• The risk monitoring reports have all been:
  • Produced.
  • Evaluated for quality.
  • Updated based on the quality control evaluation.
  • Approved.
  • Published to its stakeholders.

Because risk monitoring is an ongoing task, it is technically complete only when the:

• The endeavor has completed.
• The system, application, or center has been retired.

Steps

Risk Monitoring typically involves members of the endeavor’s teams performing the following steps in an iterative, incremental, parallel, timeboxed, and ongoing manner:

• Determine if any risks have changed.
• Determine risk controls being used.
• Determine the effectiveness of the risk control actions and techniques.
• Develop the risk management plan.

Techniques

Risk Monitoring can typically be performed using the following techniques:

• Assessment of current situation
• Auditing of current situation
• Cross Functional Teams to provide multiple viewpoints so that all aspects of risk management can be monitored
• Inspecting of current development or usage tasks
• Interviews with stakeholders, domain experts, and members of the development and operations organizations
• Incremental Development of the risk monitoring report
• Iteration of the risk monitoring report
• Observation of current development or usage tasks
• Parallel Development of the risk monitoring with other tasks
• Reviewing of current development situation

Work Products

Risk Monitoring typically results in the production of all or part of the following work products:

• Risk Monitoring Report

Guidelines

• Risk monitoring is an ongoing task that is not completed until the endeavor is finished.