Risk Management Documentation 87 It is a common criticism of risk registers that they are undertaken once or twice a year and represent a static snapshot of the risks facing the organization. In order to be effective and make a significant contribution, risk management needs to be a dynamic activity that produces outputs that have an impact on the organization. If this is going to happen, then the risk register needs to become a document that drives changes and improvements. Perhaps, it would be better if the risk register was referred to as the `risk management action plan' for the organization. event reports and recommendations Event reports, analyses and recommendations are related to recording details of the events that occur and managing the consequences of those events. Details of incident investigations and analysis of the performance of business operations, together with risk improvement recommendations, are all covered by this type of risk management documentation. Risk improvement recommendations address significant control weaknesses and aim to eliminate the potential for future material or significant failures. Recording of events is an important activity, especially in relation to hazard risks. Also, recording and analysing events during a project will be vitally important. Event reports are most relevant to hazard and control risks. Annual evaluation of risk performance will also give rise to reports that require detailed analysis.