Risk response development : considering how to respond to each individual risk and to the overall risk
exposure, selecting a strategy which is appropriate, achievable and affordable, allocating each response
to an owner.
Risk monitoring : ensuring that agreed actions are implemented effectively, monitoring the effect on
risk exposure, and communicating risk information to stakeholders with appropriate detail and
frequency.
Risk review : updating the risk process to assess the status of existing risks, determine the effectiveness
of agreed responses, identify new risks, and review the overall risk process.