Guide to Risk Monitoring - PMBOK 7th Edition

Risk Monitoring is a critical process in Project Management. It ensures that uncertainties in the project are continually reviewed and assessed, allowing actions to be implemented to mitigate any potential problems.

In line with PMBOK Guide - Seventh Edition, Risk Monitoring involves identifying, analyzing and planning responses to project risks, and keeping track of identified risks, monitoring residual risks, identifying new risks, and evaluating risk processes throughout the project.

It's importance in Project Risk Analysis cannot be overstated as it helps in managing possible issues before they escalate and cause more substantial problems.

How Risk Monitoring Works: It is performed throughout the life of the project. This process involves continuously evaluating risks and reviewing the effectiveness of risk response actions taken to ensure they are providing the expected benefits.

Exam Tips: When answering questions on Risk Monitoring, keep in mind that the process is proactive and not reactive. The focus should be on anticipating risks and mitigating them before they occur. Understand the role of a risk register in the process and use your knowledge of various risk monitoring techniques to answer the questions effectively.