The consultant should document risk for a customer in an Education Cloud implementation by maintaining a project health dashboard. A project health dashboard is a tool that provides a visual representation of the status and progress of a project, such as key milestones, deliverables, issues, or risks. A project health dashboard can help the consultant document risk for a customer in an Education Cloud implementation by identifying and tracking potential threats or challenges that may affect the project scope, timeline, budget, or quality, and providing mitigation strategies or contingency plans. Configuring an Early Alert, recommending a Center of Excellence, or sharing Salesforce resources with the customer are not ways to document risk for a customer in an Education Cloud implementation. Reference:
https://www.salesforce.org/wp-content/uploads/2019/03/Education_Cloud_COE_Guide.pdf
https://trailhead.salesforce.com/en/content/learn/modules/project-management-basics/project-management-basics-monitor