This paper, produced by the Joint Support Team with guidance from the Co-Chairs, examines the challenges linked to the occurrence of the monitoring exercise, looking specifically at its timing (when it takes place), frequency (how often it takes place) and duration (how long it lasts). It analyses four options for a revised occurrence of the exercise and the implications on different strategic guiding criteria and associated trade-offs. The analysis and the provisional options should be considered within the broader work under the monitoring reform. This includes other issues on the monitoring process and the technical work to adapt the monitoring indicator framework. The emerging insights from the paper and the provisional options will continue to evolve, and in conjunction with the other pieces of work, will inform decisions at the 22nd Steering Committee Meeting taking place towards the end of 2021.