According to the PMBOK, “Good risk monitoring and control processes provide information that assists with making effective decisions in advance of the event occurring.”
It is important to know that a project is the most at risk, and most likely to change, at the beginning of the project.
In our description of risk monitoring, pay special attention to the words in advance of the event occurring because preventative measures help create the least project variance. If a project runs smoothly and has been estimated correctly, schedule and cost variances will be minimal.
Risks are where the unexpected ...