Risk Register (Risk Log)
A document detailing identified risks, including their description, impact likelihood and mitigation strategies
Risk Description
Entails identifying and providing a detailed description of the risk
Risk Impact
Potential consequences if the risk materializes
Risk Likelihood/Probability
Chance of a particular risk occurring
Risk Outcome
Result of a risk, linked to its impact and likelihood
Risk Level/Threshold
Determined by combining the impact and likelihood
Cost
Financial impact on the project, including potential expenses if it occurs or the cost of risk mitigation
Risk Owner
Person or group responsible for managing the risk