Risk register 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
The risk register is therefore a list of all documented risks in the company, which was created on the basis of a risk analysis. You keep the register in a risk organizer. For each individual risk, its basic characteristics are described, such as its impact, its likelihood, to which asset it relates, and what measures in terms of corrective and preventive actions are related to the specific risk. The risk organizer is a valuable resource for companies and is at the heart of risk analysis. We then prioritize these specifically according to a range of impact and likelihood to prioritize and dedicate measures to the most important risks - those with high impact and the likelihood of occurrence.
- It is also useful to have such a document for compliance purposes. It can also serve as an organizer for continuous improvement.
- Typically, risks are assigned to a risk owner. This is also recorded in the organizer. The risk owner is the person who is ultimately responsible for the risk (ensuring that it is properly managed).