What is a Risk Register?

A Risk Register is an essential tool in risk management that serves to systematically document risks associated with a project or organization. It includes details about each identified risk, such as its description, potential impact, likelihood of occurrence, and the assessment of risk severity. Additionally, the Risk Register outlines the specific actions or strategies that are planned or have been implemented to mitigate those risks. This organized approach enables teams to monitor and manage risks proactively, ensuring that they are prepared to address potential challenges that could impact project success.

The other options serve different purposes. An analysis of past incidents and lessons learned helps in understanding how to avoid similar issues in the future but does not focus on current risks or their management. A database of employees and their roles pertains more to human resources rather than risk assessment. A checklist for project management is a useful tool for tracking tasks and ensuring that steps in a project are followed, but it does not specifically address the identification, assessment, or management of risks. Thus, only the definition related to the documentation and management of risks aligns with the concept of a Risk Register.