What is the role of a risk register in risk management?
- A risk register is used to track identified risks, their potential impact, and planned responses.
- A risk register is used to analyze risks and determine their likelihood of occurrence.
- A risk register is used to communicate risk management plans to stakeholders.
- A risk register is used to conduct risk assessments and evaluations.
The role of a risk register is to serve as a central repository for identified risks, detailing their potential impact, likelihood, and planned responses. Option 1 accurately describes its purpose in risk management. By maintaining a risk register, organizations can systematically track and address potential risks throughout a project or operation.
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