Ace the 2025 Certified Governance Risk & Compliance (CGRC) Challenge – Navigate the Governance Maze with Confidence!

The role of a Risk Register in a project is crucial for effective risk management. It serves as a centralized document that provides a comprehensive overview of all identified risks associated with a project. This includes details on each risk such as its description, potential impact, likelihood of occurrence, and the strategies developed to mitigate or manage these risks. By documenting both the risks and the management strategies, the Risk Register ensures that project teams are aware of potential challenges and can proactively address them, thereby minimizing the likelihood of negative impacts on the project’s success.

In contrast, while other choices highlight important aspects of project management, they do not pertain specifically to the purpose of a Risk Register. For example, listing project stakeholders focuses on communication and stakeholder engagement, tracking project tasks pertains to project scheduling and progress monitoring, and establishing timelines deals with the planning aspect. However, none of these options address the specific function of documenting and managing risks, which is the essence of the Risk Register's role in effective project governance and compliance practice.