Subtitles of the Movie

So far in this Section we've covered Updates made to the risk register and Change requests. In this movie we'll move on to cover the remaining Updates made as a result of carrying out the monitor and control risks process, including: Updates to the project management plan; Updates to the project documents; and Updates to the organizational process assets. Let's start with Updates to the project management plan. As you learned in the previous movie, these updates would have already been approved. Any time that changes are approved there are bound to be updates, particularly to the project management plan, which itself is a massive collection of subsidiary plans, component plans and baselines. When approved changes affect the risk management processes it's necessary to review the related plans and update them to reflect the changes. The updates made to the project management plan in this process are commonly the same as those we reviewed for the plan risk responses process. Let's touch on Updates to the project documents next. Previously, in this course I referred to the PMBOK Guide for referencing what documents are include under the Project Documents heading. If you're using the Fourth Edition, this is page 350. In regard to what documents are commonly updated as a result of the monitor and control risks process, the PMBOK Guide lists the assumptions log and technical documentation. Notice that these are the same updates seen in the plan risk responses process, making them a little easier to remember. Lastly, we have Updates to the organizational process assets. I've stressed a few times already how updates made throughout the project and at closing are extremely valuable to the current and future projects of the organization. Many of these updates are filed away in the organizational process assets, which are the process-related assets of the organization that are or can be used to influence the project's success. Common updates seen here include: Risk management plan templates which will include the probability and impact matrix and should also include a template for the risk register; the Risk breakdown structure; and importantly, the lessons learned from the risk management activities. These documents are updated throughout the use of the process and risk management activities overall. And the final version of the risk register, the risk management plan checklist and RBS, should be updated at project closure. And that wraps up our review of the monitor and control risks outputs and closes out this Section.