Methodological Foundations of Risk Register Development for Large-Scale Projects

Abstract

The article examines the methodological foundation for developing a risk register for large-scale projects, including the key principles of its formation, integration, and application in managing uncertainty. The urgency of the topic is justified by the scale of systemic deviations in megaprojects: the average budget overrun reaches 62?percent, while in 91.5?percent of cases projects experience cost overruns, delays or both simultaneously, which underscores the need to embed a risk?management framework at the investment justification stage, when the work breakdown structure and preliminary budget are refined. The study aims to conduct a systematic analysis and comparison of methodologies for developing a risk register, drawing on PMI, USACE and ISO standards and practical regulator recommendations, to identify novel approaches to consolidating information in a single source of truth, linking risks to WBS elements and explicitly declaring residual risk; the novelty of the research lies in combining empirical data from more than sixteen thousand megaprojects, the results of a survey of four hundred companies and software?market forecasts to produce cohesive methodological recommendations. Key findings demonstrate that integrating the risk register with the project baseline during the investment justification phase transforms it from a passive catalogue into an active driver of schedule and cost forecasts. Additionally, four methodological principles form a dynamic system capable of supporting decision-making and enhancing the adaptability of project teams. This article will be valuable to project managers, risk managers, and researchers in the field of large?scale initiative management.