A machine learning engineer is enhancing a project to automatically refresh the model each time the project runs. The project is connected to an existing model named model_name in the MLflow Model Registry. The following code snippet is part of their strategy:

mlflow.sklearn.log_model(
    sk_model=model,
    artifact_path="model",
    registered_model_name=model_name
)

Given that model_name is already present in the MLflow Model Registry, what does the parameter registered_model_name=model_name signify?