Implement Risks – the agreed risk responses are executed in this process. The owners finalized in Perform Qualitative Risk Analysis will execute the agreed response plans before or after the risk occurs based on whether the strategy was to mitigate/transfer/avoid or accept. The project manager would have to influence risk owners to take actions, particularly if they are outside the project team.
Monitor risks – Several activities are performed in this process:
Monitoring the implementation of agreed risk responses
Meetings to review risk response effectiveness and issues, identify new and secondary risks, close outdated risks, reassess existing risks, lessons learned
Auditing the risk management process effectiveness