What aspect of risk management involves regularly monitoring activities and evaluating changes?

The aspect of risk management that involves regularly monitoring activities and evaluating changes is indeed supervising operations. This process ensures that ongoing activities are aligned with established safety and risk management protocols. Supervising operations provides a framework for tracking performance, identifying any deviations from expected outcomes, and adjusting processes as necessary to mitigate risk.

Regular supervision allows for the detection of new risks or changes in existing risks, ensuring that appropriate actions are taken timely. This proactive approach is critical to maintaining safety standards and enhancing overall operational effectiveness, as it fosters an environment of continuous improvement in risk management practices.

In contrast, assessing hazards focuses on the identification and analysis of potential risks, while implementing decisions pertains to the application of strategies to mitigate those risks. Identifying risks, on the other hand, is more about recognizing potential issues rather than the ongoing monitoring and adaptation that supervising operations entails.