You are the project manager for your company and a new change request has been approved for your project. This change request, however, has introduced several new risks to the project. You have communicated these risk events and the project stakeholders understand the possible effects these risks could have on your project. You elect to create a mitigation response for the identified risk events. Where will you record the mitigation response? 

Answer options:

A. Risk register
B. Risk log
C. Project management plan
D. Risk management plan

A

The Identified risks and potential responses are documented in the risk register. A risk register is an inventory of risks and exposure associated with those risks. Risks are commonly found in project management practices, and provide information to identify, analyze, and manage risks. Typically a risk register contains: ✑ A description of the risk ✑ The impact should this event actually occur ✑ The probability of its occurrence ✑ Risk Score (the multiplication of Probability and Impact) ✑ A summary of the planned response should the event occur ✑ A summary of the mitigation (the actions taken in advance to reduce the probability and/or impact of the event) ✑ Ranking of risks by Risk Score so as to highlight the highest priority risks to all involved. Incorrect Answers: B: This is not a valid choice for this question C: The project management plan is the parent of the risk management plan, but the best choice is the risk register. D: The risk management plan is an input to the risk response planning, but it is not the best choice for this question