What is a risk register and its purpose?

• A. A public policy memo outlining environmental goals.
• B. A schedule of project milestones and deadlines.
• C. A documented log of hazards, their probability and impact, and planned mitigations.
• D. A financial ledger of project costs and profits.

Answer: (C)

A risk register records identified risks, how likely they are to happen, how big the impact would be, and what you plan to do about them. It’s the central, living tool for tracking and managing uncertainties in a project—listing each risk, its probability and impact, who owns it, triggers that show it’s occurring, and the planned mitigations or response strategies. This helps the team prioritize which risks to address, allocate resources for responses, and monitor progress as situations change, so actions can be taken before problems derail the project. For example, if a supplier might delay delivery, the register notes the likelihood, the potential impact on the schedule, an assigned owner, and a planned mitigation like sourcing a backup supplier or adding buffer time.

The other options describe different documents not focused on risk management: a memo outlining environmental goals, a schedule of milestones, or a financial ledger of costs and profits.