What is the purpose of a risk register?

The purpose of a risk register is to systematically document all identified risks associated with a project or organization along with the actions that need to be taken to mitigate those risks. This tool is essential for effective risk management, as it provides a comprehensive overview of threats, enabling stakeholders to understand potential impacts and prioritize their responses.

By maintaining a detailed record of the risks, their potential impacts, likelihood of occurrence, and the measures in place or proposed to address them, a risk register serves as a practical guide for decision-makers. It facilitates communication among project teams and stakeholders regarding risk management strategies and contributes to better planning and informed decision-making throughout the project's life cycle.

The other options focus on narrower aspects or unrelated areas, such as financial losses, performance metrics, and employee productivity, which do not encompass the broad objective of a risk register in identifying and managing risk comprehensively.