Question

Discuss methods that management can use to monitor and control risk. What must be in place before monitoring and controlling can take place?

Answer 1

Monitoring and Controlling Project Activity requires tracing the actual project execution with the outlined project administration ventures. It can essentially be looked as a Command function that takes place at all degrees of a project i.e. from Beginning through conclusion. For short projects, this process is analogously a simple task. However, Project Management is required for extensive projects where the project supervisor needs a directed effort to advise and command how the processes are running.

The project must go before the following phases before monitoring and controlling phase:

Initiation: The project always begins with an idea or any purpose or any outlines.

planning: The project activities are thoroughly planned in this phase

Execution: The project is executed as per the planning is done in the planning stage.

The fourth stage is monitoring and execution.