What is a risk register used for?

• A. A register listing risks, probability, impact, mitigation, and owners
• B. A list of project milestones
• C. A log of budget approvals
• D. A record of team contact details

Answer: (A)

A risk register is a living document that captures potential events that could affect the project and how we respond to them. For each risk, you record a description, the likelihood of it occurring, the potential impact on objectives, and the planned response plus who owns the risk. This combination helps you prioritize which risks need attention and ensures there’s a clear owner and a concrete mitigation or contingency plan.

This approach matters because it makes uncertainty visible and manageable. By tracking probability and impact, you can focus on the highest-priority threats and opportunities, and you can monitor triggers and status as the project progresses. The ownership column ensures accountability so actions are taken.

Other lists serve different purposes: a milestones list tracks schedule checkpoints, a budget approvals log tracks financial steps, and a team contact record stores people’s details. The risk register specifically centers on identifying risks, assessing their severity, planning responses, and assigning responsibility.