Masters in financial risk management online monitor the risks: Now that you know what your risks are, it is necessary to determine how you will know if they materialize to know when and if you should put your contingencies in their place. This is done by identifying risk clues. Do this for each of the high and medium risk elements. Then, as the project progresses, you will be able to determine whether a risk element has become a problem. If you don't know these signs, it's quite possible that the risk could materialize silently and affect the project, even if you have good contingencies in place.