Certified Governance Risk and Compliance (CGRC) Practice Exam 2025 - Free CGRC Practice Questions and Study Guide

Documenting low probability and low impact risks in a watchlist for future monitoring allows project managers and teams to keep track of potential risks that may not require immediate action but should still be acknowledged. This approach ensures that these risks are not overlooked, facilitating ongoing awareness and readiness to address them should circumstances change. By placing them in a watchlist, the project team can periodically review these risks without the necessity of an exhaustive focus on each, allowing for efficient resource allocation and attention to higher-priority issues.

In contrast, documenting them in a detailed risk register for constant review might be excessive given their low threat level. Including them in the project scope statement may also divert attention from more critical project components, while placing them in the project closure report seems less proactive, as it would only address these risks after the project has been completed. Therefore, the watchlist serves as a balanced approach to ensuring that all risks, regardless of their current assessment, are monitored appropriately.