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Glossary definition: Risk Register

Risk Register: A Tool for Risk Management

A Risk Register is a document used to record and track all identified risks associated with a project, process, or activity. It is a tool used to identify, monitor, and control potential risks that could arise during the project lifecycle. It typically includes information such as the risk description, its potential impact, the likelihood of occurrence, the actions taken to mitigate the risk, and the responsible party. The Risk Register is an essential part of the risk management process and is used to ensure that all risks are identified, evaluated, and managed appropriately. It also helps to ensure that potential risks are monitored and managed in a timely manner, and that the project team is informed of any changes to the risk status.