Certified Governance Risk and Compliance (CGRC) Practice Exam 2025 – All-in-One Guide to Master Your Certification!

The process of monitoring identified risks and keeping track of residual risks is best encapsulated in the activity of monitoring and controlling risks. This process ensures that risks are continuously assessed throughout the project or organization lifecycle, allowing for adjustments to be made as necessary based on the current risk environment and the effectiveness of risk response strategies.

In this context, tracking identified risks involves ongoing observation and evaluation, which helps ensure that risk responses are effective and that any new risks that may arise are promptly identified and managed. Monitoring residual risks specifically refers to the risks that remain after mitigation efforts have been implemented, requiring continued vigilance to ensure they do not escalate or lead to unforeseen issues.

Other processes like performing quantitative or qualitative risk analysis focus more on assessing risks at the outset rather than the ongoing management aspect. Identifying risks is about recognizing potential risks that could impact objectives but does not encompass the continuous monitoring of those risks once they have been identified. Thus, the ongoing nature of the monitoring and control process is essential for effective risk management and supports the overall governance, risk, and compliance strategy.