Project risk register: A document that records the identified risks, their likelihood, impact, and

mitigation strategies for a project1.

Project steering committee: A group of senior stakeholders and experts who oversee and support a

project from a higher level2.

Risk mitigation actions: The measures taken to prevent, reduce, or transfer the risks that may affect a

project3.

The most important objective of regularly presenting the project risk register to the project steering

committee is to track the status of risk mitigation actions. Tracking the status of risk mitigation

actions can help the project steering committee to:

Monitor and measure the performance and effectiveness of the risk management process and

controls

Evaluate the progress and outcomes of the risk mitigation actions against the project goals and

objectives

Identify and resolve any issues, challenges, or gaps in the risk mitigation actions

Provide guidance, feedback, and support to the project manager and the project team

Adjust or revise the risk mitigation actions as needed to reflect the changes in the project scope,

schedule, budget, or environment

The other options are not the most important objective of regularly presenting the project risk

register to the project steering committee, although they may be relevant or beneficial. Allocating

budget for resolution of risk issues, which means assigning financial resources to address and resolve

the risks that may affect a project, may be a part of the risk management process, but it is not the

primary purpose of presenting the project risk register, which is more focused on tracking and

reporting the risk status and actions. Determining if new risk scenarios have been identified, which

means finding out if there are any additional or emerging risks that may impact a project, may be a

useful outcome of presenting the project risk register, but it is not the main objective, which is more

concerned with tracking and reporting the existing risk status and actions. Ensuring the project

timeline is on target, which means verifying that the project is progressing according to the planned

schedule and milestones, may be a benefit of presenting the project risk register, but it is not the key

objective, which is more related to tracking and reporting the risk status and actions.

Reference = Risk Register: A Project Manager’s Guide with Examples [2023] • Asana, Project Steering

Committee: Roles, Best Practices, Challenges, Risk Mitigation: Definition, Strategies, and Examples