Monitoring is the continuous assessment of the risk management actions. It takes place at all levels of management and uses both formal reporting and informal communications.
Monitoring of risk management actions involves collecting information that will help you answer questions about the effectiveness of your project. It is important that this information is collected and reported in a planned, organized and routine way.
Monitoring information is collected daily, monthly or quarterly. Monitoring can answer questions such as:
- How well are we doing? (performance)
- Are we doing the right things? (any deviation)
- What difference are we making? (impact)
Monitoring is an ongoing process which reviews :
- whether resources are being mobilized and utilized;
- whether activities are being undertaken; and
- whether the intended outputs and outcomes are being achieved.
This process may apply both to particular risk management projects or programs and to government-wide sector strategies or multi-sector strategies. It includes both day-to-day and less frequent progress reviews.