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Stakeholder Engagement (19-20%)

• Utilizing the interpersonal skills to develop a common understanding of the importance of risk management to foster the proper level of risk ownership, responsibility, and shared accountability;
• Utilizing useful communication methods and sharing information on project risk performance to liaise with the stakeholders of other projects to notify them about suggestions for their projects.
• Training, coaching, and educating the stakeholders in risk processes and principles to create a common understanding of processes & principles, as well as foster involvement in risk management;
• Promoting risk ownership by proactively communicating responsibilities and roles as well as involving project team members in the expansion of risk responses for improving the risk response execution;
• Coaching the project team members in performing risk processes to secure the regular utilization of risk processes;
• Providing the risk-related advice to the stakeholders concerning risk planning and strategy, risk reporting, risk process facilitation, and functional risk tasks utilizing useful communication techniques for supporting effective risk-based decision making;
• Utilizing the tools and processes such as analyzing historical stakeholder behaviors and interviewing stakeholders to assess stakeholder risk tolerance for identifying the project risk thresholds;
• Engaging the stakeholders on the risk prioritization process according to the stakeholder risk tolerance and different relevant standards for optimizing the consensus regarding priorities;

Risk Monitoring and Reporting (19-20%)

• Utilizing the standard tools & techniques to document and regularly update the project risk data for maintaining a current repository of all the project risk information;
• Utilizing the risk-related metrics as defined in the risk management plan to create the periodical standard and custom reports for communicating the risk management status and activities;
• Coordinating with project manager utilizing communication techniques for integrating the risk management during the project;
• Monitoring the risk response metrics by examining risk response display information and presenting to key stakeholders for ensuring analysis of risk as well as developing extra risk response strategies to remove secondary & residual risks;
• Analyzing the risk process performance toward established metrics for driving the risk process improvements;
• Capturing the risk lessons discovered through a thorough review of the project risk process performance reports, risk management plan, risk audits, risk register, and other reports for incorporating into later risk planning.
• Updating the project risk management plan utilizing the relevant external and internal inputs for keeping the plan current;

Reference: https://www.pmi.org/certifications/risk-management-rmp

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