Typical risk controls for projects include: the establishment of a project risk register with risks identified, evaluated and controls determined, project planning, resourcing, and monitoring mechanisms, and governance arrangements. Risks often eventuate during change processes because existing processes were not fully understood and the number of unknowns is allowed to be greater than it should through inadequate planning, trialling and risk management.
In general, monetary policy in South Africa does not react to exogenous shocks like the oil price, exchange rate or drought. If, however, these exogenous shocks result in a more generalised impact on inflation, some monetary policy reaction might be called for. Any response to these exogenous factors would depend on how the Monetary Policy Committee viewed their second round effects.