You and your project team are just starting the risk identification activities for a project that is scheduled to last for 18 months. Your project team has already identified a long list of risks that

A fixed monthly cadence is too prescriptive and not defined by PMBOK; risk identification should occur continuously as project conditions change, not on an arbitrary schedule.

According to the PMBOK Guide, Identify Risks is explicitly defined as an iterative process because new risks emerge at any point during a project and existing risks may change in probability or impact as the project progresses, requiring ongoing re-evaluation.

The number of initially identified risks has no bearing on identification frequency; PMBOK requires ongoing risk identification regardless of initial risk count.

Stopping risk identification before execution ignores risks that emerge during execution, monitoring, and closing phases, which contradicts PMBOK guidance on iterative risk management.