Business Analysis Certification Practice Test 2026 - Free Business Analyst Practice Questions and Study Guide

A risk register is a vital component of project management and risk management that consolidates all identified risks associated with a project, along with their potential impacts and mitigation strategies. It serves as a comprehensive document that not only lists the risks but also provides a framework for managing them effectively.

Including a list of all identified risks ensures that there is a clear understanding of the possible challenges that a project may face. Each risk entry typically includes details such as the likelihood of its occurrence, its potential impact on the project, and specific strategies to mitigate those risks. This proactive approach helps project teams prepare for uncertainties and enhances the likelihood of project success by addressing potential problems before they arise.

The other choices do not align with the primary purpose of a risk register. While timelines, budget allocations, and stakeholder descriptions are important project management documents, they serve different functions and do not focus specifically on the identification and management of risks. Therefore, the correct option accurately reflects the essential content of a risk register, which emphasizes risk enumeration and corresponding mitigation strategies.