Final answer:
The statement that implementing and monitoring risk responses are part of the risk management process is true. These actions are crucial steps in minimizing and controlling risks within any project or business strategy.
Step-by-step explanation:
Implementing and monitoring risk responses are indeed part of the risk management process. So the statement is true. The risk management process consists of a series of steps that are aimed at identifying, assessing, and prioritizing risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Implementation of risk responses involves putting the risk plans into action. Monitoring the risk responses is essential to ensure that the risk management steps are effective and to identify any new risks that may arise. Constant vigilance in managing risk is a key component of a successful project, business operation, or investment strategy.