Monitoring is an essential step in the risk management process. A business owner must monitor risks and review the effectiveness of treatments and strategies that have been set up to manage risk.

Risks need to be monitored regularly to ensure changing circumstances do not alter risk priorities. Very few risks are static, therefore the risk management process needs to be repeated often, so that new risks are captured into the process and can be effectively managed

A risk management plan should be reviewed at least annually. The best way to make sure this occurs is to combine the review with annual business planning.