As a project unfolds, and the project management team and or the project management finds that they have determined the existence of a particular component as to the project and or a particular facet of that project does in fact come with a set or series of inherent risk. When attempting to organize any and all risks for the purposes of attempting to determine what the best strategy in dealing with them may be, it is often helpful to effectively organize and store these risks in one central location. In these instances, most often used is a tool referred to as a risk database. The risk database is specifically a tool that is utilized for the purposes off providing the project management team and or the project management team leader with a central repository for all information regarding the collection, maintenance, and any analysis of the date gathered in the determination and establishment of risks that man exist for the project.
This term is defined in the 3rd edition of the PMBOK but not in the 4th.