Which of the following processes is described in the statement below?
“It is the process of implementing risk response plans, tracking identified risks, monitoring residual
risk, identifying new risks, and evaluating risk process effectiveness throughout the project.”

A.
Perform Quantitative Risk Analysis

B.
Monitor and Control Risks

C.
Identify Risks

D.
Perform Qualitative Risk Analysis

Explanation:

Monitor and Control Risk is the process of implementing risk response plans, tracking identified
risks, monitoring residual risk, identifying new risks, and evaluating risk process effectiveness
throughout the project. It can involve choosing alternative strategies, executing a contingency or
fallback plan, taking corrective action, and modifying the project management plan.
Answer D is incorrect. This is the process of prioritizing risks for further analysis or action by
accessing and combining their probability of occurrence and impact.
Answer C is incorrect. This is the process of determining which risks may affect the project and
documenting their characteristics.
Answer B is incorrect. This is the process of numerically analyzing the effect of identified risks on
overall project objectives.