Definition of Risk Register
Risk register (or risk catalog) is a list of all identified and assessed risk. It is a basic source of information for risk management.
- list of identified risks
- the registry allows you to keep all relevant information for each risk
- allows the monitoring and evaluation of each identified risk
Risk Register content
- Risk Statement
- Description of each identified risk,
- Assessment of its likelihood and potential impact,
- and a plan for managing or mitigating the risk.
- Information about risk sources and causes, like hazard and threats
How to create and maintain a risk register in a company
The risk register can take a different form - it can only exist on paper, in Excel or it can be solved using a shared application that enables the cooperation of all involved. It is a basic source of information for risk management.
- It allows monitoring and evaluation of each individual risk
- the risk register allows you to keep all important information for each risk
