It becomes more stable if you tighten the screw from the brace to the post as well, as it prevents the brace from sliding on the post. Whether it is necessary is harder to answer since it requires knowledge of the rest of the construction and intended loads from the roof, etc. "Better safe than sorry" is what I would think since the screw is cheap, and you are asking the question. 
OK.
If you have any type of boards (gypsum, OSB, chipboard, etc.), you don't need any more diagonal bracing, boards are more than sufficient (for buildings of such modest heights).
Paneling braces very well, but maybe not completely reliable, so yes, if you are only going to have facade paneling, it's not wrong to have a diagonal brace on each wall section.
OK, carry on ...

I was just thinking that if you were planning to have boards on the inside, you could skip the diagonal bracing entirely, just have something simple and temporary until the first gypsum board was in place.
If you have any type of boards (gypsum, OSB, chipboard, etc.), you don't need any more diagonal bracing, boards are more than sufficient (for buildings of such modest heights).
Paneling braces very well, but maybe not completely reliable, so yes, if you are only going to have facade paneling, it's not wrong to have a diagonal brace on each wall section.
OK, carry on ...
I was just thinking that if you were planning to have boards on the inside, you could skip the diagonal bracing entirely, just have something simple and temporary until the first gypsum board was in place.
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