We consider and investigate an improved chromatic dispersion monitoring method using two RF tones with an inserted dispersion offset. This improved technique can be used to monitor both the positive and negative accumulated dispersion caused by optical fibers as well as other optical components in optical networks. We experimentally demonstrate that the monitoring range of the improved technique can be greater than 1150 ps/nm and the monitoring sensitivity better than 0.064 dB/ps/nm by selecting appropriate RF frequencies and dispersion offsets. Our investigations reveal that the RF modulation index should be greater than 10% but less than 20% so as to acquire a large monitoring range with a small power penalty. We also examine the CD monitoring errors caused by polarization mode dispersion (PMD) and self-phase modulation, and show that the use of a dispersion offset can effectively reduce the PMD-induced monitoring errors.