What does a risk report typically contain?

A risk report typically contains a summary of risk management activities, which provides stakeholders with a comprehensive overview of the risks identified, assessed, and managed during a particular phase of the project or system development. This summary includes information such as the current status of identified risks, any new risks that have been recognized, changes in risk exposure, mitigation strategies, and the effectiveness of the risk management efforts.

The purpose of the risk report is to ensure that all stakeholders are informed about potential challenges that could impact the project's success and the measures taken to address them. It serves as a basis for decision-making by highlighting areas that require attention and resources, thus promoting transparency and proactive management of risks.

Other options, while relevant to project management in general, do not specifically capture the essence of what a risk report aims to convey. Project schedule updates and financial forecasts focus on different aspects of project management operations, whereas stakeholder engagement strategies address communication and relationships, rather than risk management activities.