In agile projects, risks are assessed and managed continuously through regular feedback loops, such as daily standups, iteration demos, and retrospectives. These feedback loops allow the team to identify, analyze, prioritize, and respond to risks in a timely and collaborative manner. They also help the team to monitor and control the project performance and deliver value to the customer. Identifying and escalating risks to the facilitator is not an effective way of managing risks, as it does not involve the whole team or the customer.
Updating the risk register during every iteration is a good practice, but it is not enough to assess and manage risks regularly. Focusing on developing a working deliverable instead of documenting risks is not a good option, as it ignores the potential impact of risks on the project outcome and quality. References: = PMBOK Guide, 7th edition, page 97; PMI, Project Management Professional (PMP) Examination Content Outline,
2021, page 8.