In the Risk Monitoring and Control process, what is the primary objective for the project manager and team?

Introduction / Context:
Risk Monitoring and Control is a process in Project Risk Management that ensures risk plans remain effective during project execution. It involves tracking existing risks, identifying new risks, executing risk response plans, and evaluating whether risk strategies are working as expected. This question asks for the primary objective of this ongoing process.

Given Data / Assumptions:

• The process is Risk Monitoring and Control.
• We must identify its main purpose.
• Options include initial risk identification, strict prevention of changes, contract negotiation, and charter preparation.
• We assume PMI aligned roles for each process named in the options.

Concept / Approach:
After risks have been identified, analyzed, and responses planned, the project team must monitor risk triggers, implement planned responses, and adjust as necessary. The goal is not to freeze the project or stop all change but to manage uncertainty proactively. Risk Monitoring and Control also involves updating the risk register, communicating risk information, and feeding lessons learned into the organization. Other activities like creating the first risk list, preparing charters, or negotiating contracts occur in different processes.

Step-by-Step Solution:
Step 1: Recall that Risk Monitoring and Control takes place during project execution and extends until project closure. Step 2: Identify key activities such as tracking identified risks, monitoring residual and secondary risks, identifying new risks, and evaluating the effectiveness of responses. Step 3: Review the answer choices and find the one that explicitly describes these activities. Step 4: Option a states that the objective is to track identified risks, monitor residual and new risks, and evaluate response effectiveness, which matches the standard description. Step 5: Confirm that other options describe initial identification, inflexible change prevention, procurement actions, or initiation tasks unrelated to ongoing risk control.

Verification / Alternative check:
Consider a project where a mitigation plan was created for a high risk supplier delay. During Risk Monitoring and Control, the team watches for early warning signs, executes the mitigation steps when needed, and then evaluates whether the plan reduced the delay impact. They also look for new risks emerging from changes. This continuous loop of tracking, acting, and evaluating is exactly what option a describes.

Why Other Options Are Wrong:
Creating the first list of risks is part of Risk Identification, not Risk Monitoring and Control. Blocking all changes to scope and schedule contradicts the idea of integrated change control and does not describe risk management. Negotiating contracts is a procurement activity. Preparing the project charter is part of project initiation. None of these reflect the ongoing monitoring and control focus of this risk process.

Common Pitfalls:
Sometimes candidates treat risk management as a one time planning exercise. In practice, risk monitoring and control continues throughout the project because the risk profile changes over time. On the exam, any description that emphasises ongoing tracking, evaluation, and adaptation of risk responses points to Risk Monitoring and Control.

Final Answer:
The primary objective of Risk Monitoring and Control is to track identified risks, monitor residual and new risks, and evaluate the effectiveness of risk responses throughout the project.