Which stage in the risk management process involves tracking identified risks over time?

The stage in the risk management process that involves tracking identified risks over time is risk monitoring. This stage is crucial as it ensures that the organization continually assesses the status of identified risks, evaluates the effectiveness of risk mitigation strategies, and identifies any new risks that may arise.

During risk monitoring, organizations establish processes for regular reviews and updates, allowing them to respond promptly to changes in the risk environment. Effective risk monitoring not only aids in maintaining awareness of current risks but also helps in understanding trends that may affect future risk exposure. This continuous process is vital for maintaining the overall effectiveness of the risk management program, ensuring that the organization can adapt to changing circumstances effectively.

In contrast, risk assessment refers to the initial process of identifying and analyzing risks to understand their potential impacts. Risk identification is specifically focused on discovering and listing the risks that could affect an organization's objectives, while risk control involves the implementation of strategies to manage those risks effectively. Thus, while all these stages are important in the overall risk management process, tracking and overseeing previously identified risks is a specific function of risk monitoring.