The Cumulative Sum (CUSUM) procedure is an effective statistical process control tool that can be used to monitor quality of ready mixed concrete (RMC) during its production process. Online quality monitoring refers to monitoring of the concrete quality at the RMC plant during its production process. In this paper, we attempt to design and apply a new CUSUM procedure for RMC industry which takes care of the risks involved and associated with the production of RMC. This new procedure can be termed as Risk Adjusted CUSUM (RACUSUM). The 28 days characteristic cube compressive strengths of the various grades of concrete and detailed information regarding the production process and the risks associated with the production of RMC were collected from the operational RMC plants in and around Ahmedabad and Delhi (India). The risks are quantified using a likelihood based scoring method. Finally a Risk Adjusted CUSUM model is developed by imposing the weighted score of the estimated risks on the conventional CUSUM plot. This model is a more effective and realistic tool for monitoring the strength of RMC.