After completing the risk register, many team members feel there is a lack of time...

Risk urgency refers to the timeframe within which a risk might occur and necessitates prioritization based on how soon a response is required. When team members express concerns about a lack of time prioritization for an identified risk, they are highlighting the need to assess and address the risk's urgency. Evaluating risk urgency involves determining the proximity of the risk event and ensuring that timely actions are planned to mitigate or respond to the risk appropriately. Incorporating urgency assessments into the risk management process helps in allocating resources and attention to risks that require immediate action, thereby enhancing the project's resilience against potential threats.

PMI Risk Management Study Guide References:

The PMI-RMP Exam Preparation Study Guide discusses the concept of risk urgency, noting that "understanding the timing of potential risk events is crucial for effective prioritization and response planning."