What is the purpose of a risk register?

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Multiple Choice

What is the purpose of a risk register?

Explanation:
A risk register is a living log that captures what could go wrong, how likely and how serious it would be, who is responsible, what controls exist, and how the risk changes as those controls are put in place. This makes it the best answer because it covers the full lifecycle of risk management: identifying hazards, evaluating their risk levels, assigning accountability, recording mitigation actions, and tracking whether those actions reduce risk over time. By keeping everything in one place and updating it as conditions change, the register helps prioritize work, communicate with stakeholders, and demonstrate progress. The other options are too narrow. Listing hazards alone doesn’t show how risky they are or who owns them or what’s being done to reduce them. Tracking only financial risk overlooks safety, operational, and strategic risks. Replacing PPE focuses on a single control and misses the broader process of identifying, assessing, and continuously managing risk.

A risk register is a living log that captures what could go wrong, how likely and how serious it would be, who is responsible, what controls exist, and how the risk changes as those controls are put in place. This makes it the best answer because it covers the full lifecycle of risk management: identifying hazards, evaluating their risk levels, assigning accountability, recording mitigation actions, and tracking whether those actions reduce risk over time. By keeping everything in one place and updating it as conditions change, the register helps prioritize work, communicate with stakeholders, and demonstrate progress.

The other options are too narrow. Listing hazards alone doesn’t show how risky they are or who owns them or what’s being done to reduce them. Tracking only financial risk overlooks safety, operational, and strategic risks. Replacing PPE focuses on a single control and misses the broader process of identifying, assessing, and continuously managing risk.

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