Why is a risk register an effective tool for risk management?

• It can be used to filter risks, track progress, document action plans; • It is useful for risk owners, auditors, managers, directors • It can be tailored to a reader’s particular need for detail; • Each business group within an organisation can have it’s own risk register, linked upwards to corporate policy level risks; • The “top 10” risks can be highlighted in the Register for ongoing management. • Control measures can be classified as “Proactive” (affect the likelihood of an event occurring), or “Reactive” ( affect the level or duration of consequences) and monitoring can be tailored for each risk. • The Risk Register is supported by a report with workshop notes, analysis files, photos, diagrams & material that validates the summary in the Risk Register.