Elements and Performance Criteria
- Determine project risks
- Identify, document and analyse risks, in consultation with stakeholders and higher project authority, as the basis for risk planning
- Use established risk management techniques and tools, within delegated authority, to analyse risks, assess options and recommend preferred risk approaches
- Develop risk management plans, secure agreement of stakeholders and communicate plans to ensure clarity of understanding and ongoing management of risk factors
- Establish designated risk management processes and procedures to enable effective management and communication of risk events, responses and results
- Monitor and control project risks
- Manage project in accordance with established project and risk management plans to ensure a common approach to the achievement of objectives
- Monitor progress against project plans to identify variances and recommend responses to a higher project authority for remedial action
- Implement agreed risk responses and modify plans to reflect changing project objectives in an environment of uncertainty
- Assess risk management outcomes