What is the primary purpose of monitoring risks after assessment?

The primary purpose of monitoring risks after assessment is to ensure the effectiveness of mitigation strategies. This ongoing process is vital because it allows organizations to evaluate whether the measures they put in place to manage identified risks are working as intended. Monitoring helps identify any changes in risk impact or likelihood, making it possible to adjust strategies and responses proactively.

Effective risk monitoring creates a feedback loop, facilitating continual improvement in risk management practices. By assessing how well mitigation strategies are performing, teams can adapt and refine their approaches, ensuring they remain resilient against potential threats.

The other options do not encapsulate the primary focus of risk monitoring. Preparing for project audits relates more to compliance and accountability rather than direct risk management. Reducing project duration is a goal that can be influenced by various factors, but it is not a direct goal of risk monitoring. Completely eliminating risk is unrealistic, as risk can often only be mitigated or managed rather than fully removed.