Project Management Professional Practice Question

The correct answer is that the primary objective of a periodic risk review is to keep the project's risk profile current. According to the PMBOK Guide, the Monitor Risks process involves tracking identified risks, monitoring residual risks, identifying new risks, and evaluating risk process effectiveness. This is an iterative activity. The workshop's purpose is to reassess existing risks, as their probability or impact may have changed, identify new risks that have emerged since the project started, and check if the implemented risk responses are effective.

The other options are incorrect. Creating the initial risk management plan is a planning activity done at the beginning of the project. Closing out risk activities is done at the end of a phase or the project, not in the middle of execution. A final audit for lessons learned is also a project closure activity, not an ongoing monitoring one.