- Project assumptions are still valid
- Risk, as assessed, has changed from its prior state, with analysis of trends
- Proper risk management policies and procedures are being followed
- Contingency reserves of cost or schedule should be modified in line with the risks of the project.
Notes: Historical Information - On the exam you should know that historic information, or data from similar projects, should always be reviewed to aid in determining project risk. The reason for this is simple; the PM will have an identified risk, a risk response and potentially a result of the risk response from the historical data.
Checklists - The advantage of a checklist to identify risks is that it’s a simple and direct approach to identify risks. The disadvantage of using a checklist for risk identification is that the participants may limit their risk identification to only the risk categories on the checklists.
