Certified Governance Risk and Compliance (CGRC) Practice Exam 2026 - Free CGRC Practice Questions and Study Guide

The best course of action when a project manager identifies a new project risk with significant impact but low probability is to add the identified risk to the risk register. The risk register is a fundamental tool in project management that serves to formally document all identified risks, their characteristics, and their potential impact on the project. By logging this risk in the register, the project manager ensures that it is recognized by the project team and provides a basis for ongoing monitoring and potential mitigation strategies.

Maintaining an updated risk register helps the project manager in tracking the risk's status over time and facilitates communication regarding the risk among stakeholders. It also assists in the prioritization of risks for response planning and review during project meetings. Additionally, it demonstrates due diligence and proactive risk management practices within the project.

While the other options may seem relevant—such as logging risks in quality control charts, issues logs, or watchlists—these actions do not provide the structured and comprehensive approach that a risk register offers. The quality control management control chart typically deals with defects and quality issues, the issues log focuses on current problems needing resolution rather than potential future risks, and a watchlist may not capture the same level of detail necessary for effective risk management. Thus, placing the risk in the risk register is