What is typically included in the monitoring procedures of a risk management plan?

Monitoring procedures in a risk management plan are essential for identifying and responding to changes in the risk environment. Tracking changes in the risk landscape is crucial because risks can evolve over time due to various factors such as technological advancements, regulatory changes, and shifts in the business environment. By continuously monitoring these changes, an organization can make informed decisions on how to mitigate and manage emerging risks effectively.

This proactive approach allows organizations to adapt their risk management strategies and ensure they remain relevant and effective in minimizing potential threats to their operations. Hence, monitoring the risk landscape fosters resilience and preparedness, enabling organizations to navigate challenges as they arise and maintain a robust risk management framework.