UNDERSTANDING - CONTROL RISK IN PROJECT MANAGEMENT
Lt Cdr Manish Shrivastava CISSP, PMP
Cloud Security I Technology Risk & Controls I GRC
RISK AUDIT VS REASSESSMENT
RISK HAS ALWAYS BEEN A VERY DICEY TOPIC WHEN IT COMES TO PMP. AS EVERY THING SEEMS TO BE A RISK OR A CHANGE WHEN YOU FIRST START READING PMBOK. SIMILAR DOUBTS CLOUDED MY PREPARATIONS AS WELL, ONE OF THEM WAS MY NEMESIS - RISK REASSESSMENT AND RISK AUDIT.
HERE I AM TRYING TO DEMYSTIFY THE MAJOR DIFFERENCE.
BUT, WHEN IT COMES TO UNDERSTAND HOW THE RISK RESPONSES AND IMPLEMENTED POLICIES & PROCEDURES HAVE PERFORMED. AS A PROJECT MANAGER WE MUST UNDERSTAND THAT AUDITING THE ACTION TAKEN IS OF KEY IMPORTANCE AS WELL. WE MUST KNOW WHETHER PLAN IS WORKING AS EXPECTED OR NOT. ALWAYS REMEMBER AUDIT IS PERFORMED FOR THE PROCEDURAL CHECKS FOR THE ACTIONS TAKEN TOWARDS RESPONDING TO THE RISKS.
RISK REASSESSMENT ON THE OTHER HAND TALKS ABOUT THE RISKS IN PARTICULAR. NEW, OLD OR ON WATCH LIST. THIS PARTICULAR TOOL IS TO UNDERSTAND HOW MANY RISKS ARE LEFT, DO WE HAVE NEW ONES, WHAT IS THE STATUS OF RISKS WHICH WERE MARKED LOW(WATCH LIST). THIS PROCESS IS LIKE UPDATING STATUS OF RISKS AND CHECKING IF ANY NEW RISKS HAVE OCCURRED.
I HOPE THIS WILL HELP IN UNDERSTANDING HOW TO CONTROL RISKS IN A BETTER MANNER.
REGARDS.