These are also reviewed periodically to measure progress and identify new risks. Maintain visibility of risks, project priority, and mitigation plans. Actions can lead to corrections in products or processes. Changes to risks, risks that become problems, or faulty plans require adjustments in plans or actions. Maintain the level of risk acceptable to the program managers.
Communication occurs formally as well as informally.
Establish continuous, open communication. Formal communication about risks and action plans is integrated into existing technical interchange meetings, design reviews, and user requirements meetings. Advantages of Team Risk Management Team risk management offers a number of advantages for a project, as compared to individual or group risk management. These new commitments, in turn, may involve investment, particularly early in the program. However, one problem prevented can more than pay for the entire investment.