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

When dealing with small identified risks that are not expected to significantly affect the project, adding these risks to a low priority risk watch list is an appropriate action. This approach allows project managers to monitor these lower-impact risks without allocating excessive resources or attention that could divert focus from more critical risks.

By placing these minor risks on a watch list, a project team ensures that they are acknowledged and do not go unmonitored, providing a mechanism to address them if they escalate or change status over time. This proactive stance can be beneficial in maintaining project momentum while ensuring that potential disruptions are tracked in case they become more serious threats.

In contrast, while accepting a risk (the first choice) is often appropriate for minor issues, it lacks the oversight that comes from placing them on a watch list. Dismissing risks (the second choice) can lead to a lack of awareness, leaving the project vulnerable if those minor risks escalate. The requirement that all risks have a valid, documented response (the fourth choice) is more applicable to higher-impact risks and does not typically aim to address the nuances of minor risks effectively. Therefore, tracking them on a watch list strikes the right balance between oversight and resource allocation for small risks.