Korea Atomic Energy Research Institute (KAERI) developed a risk monitor called Risk Monster which supports for plant operators and maintenance schedulers to monitor plant risk and to avoid high peak risk by rearranging maintenance work schedule. Risk Monster can update the plant risk continuously according to the change of system/component configuration since Risk Monster reevaluates the plant risk based on the Probabilistic Safety Assessment (PSA) results. A brief description of Risk Monster is provided. The PSA model of UCN 3, 4 nuclear power plant was converted by KAERI to Risk Monster model. Using this Risk Monster model, a feasibility study of the on-line maintenance of an Essential Service Water (ESW) pump was performed. On-line maintenance of one ESW pump has been shown to be acceptably safe, and has economic benefits. In addition, it is not a violation of technical specification to continue plant operation with an out-of-service ESW pump.