The status of identified risk scenarios, because it helps to monitor and track the current level and direction of the IT risks, and to determine whether the risk responses and controls are adequate and effective. An IT risk register is a document that records and tracks the key IT risks that an organization faces, along with their likelihood, impact, and response strategies. An IT risk scenario is a hypothetical situation or event that describes the source, cause, consequence, and impact of an IT risk. The status of identified risk scenarios is the most important factor, as it reflects the actual and potential outcomes of the IT risks, and the performance and progress of the risk management process. The costs associated with mitigation options, the cost-benefit analysis of each risk response, and the timeframes for risk response actions are all possible factors to review when evaluating the ongoing effectiveness of the IT risk register, but they are not the most important factor, as they do not directly measure and report the status of the IT risk scenarios.