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Question:

The project team recently participated in a working session to oversee and document the effectiveness of risk responses in addressing overall project risk. What project management process are they doing?

A Monitor Risks
Explaination

The purpose of the Monitor Risks process is to monitor risk response plans, track identified risks, identify and analyze new risks, and evaluate the effectiveness of the risk processes. As part of carrying out this process, risk review meetings may be held to examine and document the effectiveness of risk responses in dealing with overall project risks and individual project risks.