Chapter 5: Risk Monitoring and Reviewing

Organisations need to formally monitor and review individual risk exposures by asking the following questions:

In addition to asking these key questions, the organisation should also continually monitor and review each step in the risk management process.

Monitoring and review are critical elements in the effectiveness of risk management programmes because no matter how well an organisation plans or implements a risk management programme:

As circumstances change, organisations need to modify risk management programmes and apply the risk management process in an ongoing, iterative fashion.

The organisation should monitor and review all the steps in the risk management process on a continual basis to ensure it achieves the optimum risk management results.