Risk Reviews: Ongoing Risk Monitoring

Correct Answer: Assess the root causes and modify risk response strategies

When risk responses are underperforming, the most effective approach is to assess the root causes and modify the strategies accordingly. This is the correct answer because: 1. It addresses the fundamental issue causing the underperformance 2. It enables proactive adjustment of strategies based on actual performance data 3. It follows the continuous improvement principle in risk management 4. It helps prevent similar issues from recurring The other options are incorrect because: Escalating to senior management prematurely adds unnecessary bureaucracy and delays when the focus should be on understanding and fixing the issue first. Simply documenting underperforming responses and continuing with existing strategies is passive and fails to address the problem. Merely increasing review frequency while maintaining current plans does not solve the underlying performance issues - it only monitors the problem more often.

Correct Answer: Conduct periodic risk reassessments and update response strategies based on new project data

Conducting periodic risk reassessments and updating response strategies based on new project data is the most effective approach because: - It ensures risk monitoring stays dynamic and responsive to project changes - It allows for adaptation of strategies based on actual project performance and new information - It promotes proactive risk management rather than reactive responses - It helps identify both emerging risks and opportunities throughout the project lifecycle The other options are less effective because: Documenting risk activities and maintaining historical records is important but passive; it doesn't actively ensure relevance of current risk monitoring. Performing continuous stakeholder analysis is valuable but focuses too narrowly on one aspect of risk monitoring. Weekly team meetings are useful but too rigid and may not align with the project's actual risk profile and monitoring needs. Some risks may need daily monitoring while others monthly, making a weekly schedule suboptimal.

Correct Answer: Deviation from expected risk response outcomes

Deviation from expected risk response outcomes is the most reliable indicator for adjusting risk management strategy because: It provides quantifiable evidence that current strategies are not performing as planned. When actual outcomes differ from expected results, it clearly signals the need for strategic adjustments. This indicator is based on measurable data rather than subjective input, making it more reliable than other options. Why other options are less reliable: Stakeholder expectations and project requirements naturally evolve but aren't necessarily tied to risk strategy effectiveness. Team member feedback, while valuable, can be subjective and may reflect personal perspectives rather than systematic issues. Secondary risks are expected in projects and their occurrence doesn't automatically indicate a need for strategy adjustment - they may be anticipated and acceptable within the current framework.