Which of the following strategies is vital for identifying risks in a project?

Monitoring project parameters and sound communication is essential for identifying risks in a project because it involves continuously assessing the project's progress and any external factors that could impact its success. By keeping a close eye on project parameters—such as budget, timeline, and scope—project managers can spot deviations from the plan that might signify potential risks. Sound communication ensures that all stakeholders are informed, can voice concerns, and understand the project status, allowing for a collective awareness of risks as they arise.

Frequent project status meetings can help in discussing current progress and any issues that need to be addressed, but without the focus on monitoring specific parameters and communicating effectively about risks, they may not capture the full scope of potential challenges. Comprehensive project documentation provides a valuable historical context and reference point but does not actively identify risks in real-time. Avoiding change requests may seem like a way to minimize disruptions, but it can also lead to missing out on addressing underlying issues that could pose risks in the first place. Therefore, effective monitoring and communication are key strategies for recognizing and managing risks proactively.