HKSM

An ongoing process that oversees the execution of approved risk responses, keeps watch on known risks, discovers and assesses new risks, and checks how effective risk management is across the entire project.

Key Points

• Continuous activity performed throughout the project life cycle.
• Verifies that agreed risk responses are carried out and remain effective.
• Updates the risk register and risk report with changes, new risks, and outcomes.
• May trigger change requests, reserve adjustments, risk re-prioritization, or risk closing.

Example

On a software project, the team holds biweekly risk reviews. The project manager confirms the mitigation for a cybersecurity risk has been implemented, notes that defect trends are rising and adds a new risk about test environment instability, updates the risk register, and submits a change request to add a penetration test to strengthen the response.

PMP Example Question

Which process involves checking the effectiveness of risk responses, tracking known risks, and identifying new risks throughout the project?

1. Plan Risk Management
2. Perform Qualitative Risk Analysis
3. Monitor Risks
4. Control Quality

Correct Answer: C — Monitor Risks

Explanation: Monitor Risks is the ongoing process that oversees response execution, tracks existing risks, finds new risks, and evaluates risk management effectiveness during the project.