88. Risk Monitoring and Reporting

Risk Monitoring

Involves continuously tracking identified risks, assessing new risks, executing response plans, and evaluating their effectiveness during a project’s lifecycle

Residual Risk

Likelihood and impact after implementing mitigation, transference, or acceptance measures on the initial risk

Control Risk

Assessment of how a security measure has lost effectiveness over time

Risk Reporting

Process of communicating information about risk management activites

Informed decision-making

Offer insights for informed decisions on resource allcation, project timelines, and strategic planning

Risk mitigation

Recognize when a risk is escalating to mitigate it before becoming an issue

Stakeholder communication

Assist in setting expectations and showing effective risk management

Regulatory compliance

Demonstrate compliance with these regulations

Reasons for Risk Monitoring

Informed decision-making

Risk Mitigation

Stakeholder communication

Regulatory compliance