Which project process is concerned with the monitoring and control of risks?

The project process that is focused specifically on the monitoring and control of risks is Risk Management. This process involves identifying potential risks that could affect the project, assessing their impact and likelihood, and implementing strategies to mitigate or respond to those risks throughout the project lifecycle. Continuous monitoring of these risks is essential to ensure that any changes in risk status are identified early, allowing for timely adjustments to be made in the project plan.

By effectively managing risks, project managers can reduce the likelihood of unforeseen issues impacting project objectives, timelines, or budget. This process not only involves taking proactive measures to avoid risks but also includes regular updates and adjustments to risk management strategies as new risks may emerge or existing risks may evolve over time.

The other options, while important in their respective contexts, do not specifically address the overall monitoring and control of risks in the same focused manner as Risk Management does. Decision Management relates more to making choices among alternatives, Project Planning involves outlining the scope, objectives, and schedules of a project without a dedicated emphasis on risk, and Measurement deals primarily with analyzing performance metrics rather than risk control.