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4 Types of Risk Monitoring

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Risk monitoring is the ongoing process of managing risk. Risk management often has an initial phase that involves identifying risk, agreeing to treatments and designing controls. Risk monitoring is the process of tracking risk management execution and continuing to identify and manage new risks. The following are common elements of risk monitoring.

Risk Identification

The continuing process of identifying new risks.

Risk Analysis

Ongoing analysis of risk probability, impact, treatment options and other factors such as moment of risk.

Risk Controls

Monitoring the implementation of risk controls such as risk mitigation processes.

Measurement & Communication

Measuring current risk exposure and communicating risk information to stakeholders. This may include regular reviews.
Overview: Risk Monitoring
Type
Risk Management
Definition
The ongoing process of managing risk
Related Concepts
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