Risk re-evaluation in project management involves re-assessing current Hazards.
Risk Managers will keep checking if the impact and/or the probabilities of risks are the same now as compared to when were planned before.
The level of impact of a risk or its probability could change when project execution begins. Even some risks that are in the watchlist could have changes to their probability and/or impact. In such cases, these risks should be taken through the risk management cycle and then formulate a response. The whole idea is to re-assess and re-strategise these risks where existing response may be inadequate.
Risk re-evaluation can be done for Hazards passed through entire Risk assessment clicking on the "Re-evaluation" button.
With Risk Re-evaluation existing Hazards can be reassessed through each Risk Assessment step, starting from the Risk evaluation tab.
Please note, for attachments added within re-evaluated Hazards, in the folder which stores files related to that particular Hazard, sub-folder is opened by Hazards name and extension “Version 2” (etc.), where files related to re-evaluation of this particular Hazard are stored.
Previous versions of defined Hazards could be previewed click on the "Show/Hide version history".