In a scenario where new regulations have been imposed midway through the project, causing unforeseen risks and potential delays, which step of risk management would be crucial to address this change?
- Risk Closure
- Risk Identification
- Risk Monitoring and Review
- Risk Quantification
Risk Monitoring and Review is the continuous process of tracking identified risks, monitoring residual risks, and identifying new risks. Given the introduction of new regulations, it's essential to continually review and adapt to these unforeseen changes in the project's context.
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