What is the primary goal of risk monitoring?

The primary goal of risk monitoring is to track identified risks and evaluate the effectiveness of the responses implemented. This ongoing process is critical because it allows organizations to assess whether their risk management strategies are working as intended and to identify any changes in the risk environment. Through effective monitoring, organizations can detect new risks, gauge the status of existing risks, and make informed decisions to adjust their risk management strategies as necessary. This enables a proactive approach to risk management, ensuring that risks are effectively managed and that the organization is prepared to adapt to any changes in the risk landscape.

While reducing the number of risks faced by an organization, ensuring compliance, and increasing employee awareness are all important aspects of risk management, they are not the primary focus of risk monitoring. Compliance and awareness can be byproducts of effective risk monitoring, but the central aim is to maintain a clear understanding of risks over time and how well the organization is responding to them.