Risk Register - Purpose, Importance, and Benefits

The Purpose of a Risk Register

Question

Which is a purpose of a Risk Register?

Answers

Explanations

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A. B. C. D.

A.

A Risk Register is a document or database that captures all identified risks that may occur during a project. It is an essential tool in risk management, as it helps the project team to identify, assess, and monitor risks throughout the project life cycle.

Therefore, option A, "Capture risks that may occur during the project," is a correct purpose of a Risk Register. It allows the project team to track the progress of risk management activities and helps to identify the potential impact of those risks on the project's objectives.

Option B, "Record how risk management activities will be undertaken on the project," is not an accurate purpose of a Risk Register. Instead, the Risk Register records the risks and their potential impacts, as well as the actions that will be taken to manage them.

Option C, "Record the risk tolerance for the project," is also not a correct purpose of a Risk Register. While a Risk Register may contain information about the organization's risk tolerance, it is primarily used to capture and manage risks related to the project.

Option D, "Capture issues which are impacting on the delivery of the project objectives," is not an accurate purpose of a Risk Register. Instead, it is more related to issue management. A separate document called an Issue Register would be used to capture and track issues impacting project objectives.

In summary, the primary purpose of a Risk Register is to capture and manage risks that may occur during a project.