Risk management process in projects

Deliverable Length:   300–500 words

Primary Response: Within the Discussion Board area, write 300–500 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas.

For this Discussion Board, please complete the following:

According to A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) – Sixth Edition, monitoring risks refer to “the process of monitoring the implementation of agreed-upon risk response plans, tracking identified risks, identifying and analyzing new risks, and evaluating risk process effectiveness throughout the project” (2017). This enables decisions to be made with the most current information about overall and individual project risks.

Using the CTU Library, please follow the steps below to find the article listed and discuss the questions that follow:

1. Enter the CTU Library, and scroll down the page to the list of databases.
2. Search for the following article:

Doval, E. (2019). Risk management process in projects. Review of General Management, 29(2), 97–113.

What do you think about the project risk management methodology the author discussed in this article? Share examples to support your perspective.

• In the conclusion section, the author explains, “risk management is not the end of the activity in terms of efficient risk management. It is a constant learning process for project managers to continually improve their practices to increase the efficiency of the process”. Do you agree with this conclusion? Why or why not? Share examples from the article or real life experience.
• Choose one of the risk monitoring principles discussed in the article. How would you use it in the process of planning and conducting the project?

1. Reference

   Project Management Institute, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide), Sixth Edition, Project Management Institute Inc., 2017.

   *PMBOK is a registered mark of the Project Management Institute, Inc.