ABSTRACT
Monitor and Close Risks is the fifth domain and includes four tasks. The key definitions include a pretest. The introduction gives a short intro to the domain and underlying responsibilities of the project risk manager within each domain to ease the understanding of the content. Monitor and Close Risks is the ongoing watching, evaluating/validation, reporting, identifying of new risks, and managing of all risks. The supporting tasks involve gathering and analyzing work performance data, managing residual and secondary risks, and in the process updating the relevant documentation and informing key stakeholders. The Risk Management Life Cycle is a structured approach to the comprehensive view of risks. It is important to have a structured approach when working with risks, and for the exam it is important to know where we are in the life cycle/process and by doing so what tools and techniques the exam question context is referring.
