To monitor risk management, you want to evaluate how each of the four steps are performed:
You can list all the relevant situations where your organization failed with risk management by considering performance results, for example:
Higher costs …
Each time any of these situations arrive, it is a signal that somewhere in our risk management methodology we failed. Then comes the need to determine the causes of those failures. For example, last week I worked with an organization that realized that its practice to determine risks during construction had to be improved. The person determining risks had no first-hand construction experience. So, instead of one person, they decided to use a small team.