A project manager is managing a large project.

When a new risk is identified that was not previously recognized, the project manager should add this risk to the risk register. This action ensures that the risk is formally documented and can be analyzed and managed appropriately. The next step is to reevaluate the risk register, which involves reassessing the identified risks and their potential impacts in collaboration with the project team and stakeholders. This reevaluation is crucial to ensure that all risks are accounted for and that the project’s risk management plan is up-to-date and reflective of the current project environment12.