Description: Risk monitoring is the continuous process of identifying and assessing risks to minimize their impact. This proactive approach allows organizations to anticipate potential problems and develop strategies to mitigate them before they escalate into crises. Risk monitoring involves the collection and analysis of relevant data, assessing the likelihood of adverse events occurring, and determining their potential impact on the organization’s objectives. Key characteristics of this process include systematicity, adaptability, and integration into the organizational culture. Risk monitoring is essential across various sectors, as it helps organizations protect their assets, ensure business continuity, and comply with regulations and quality standards. Furthermore, it promotes informed decision-making by providing organizational leaders with a clear view of the risks they face and the measures that can be implemented to manage them effectively.
