Risk communication and consultation

Communication and Consultation with Stakeholders on risk management

Risk management need to be participatory enough as it is a cross cutting phenomena in the sense that it may affect both and external stakeholders. Once an organization fails in achieving its objectives due to poor risk management, not only internal stakeholders are affected but also other external stakeholders are affected directly or indirectly. It should be also noted that strategic objectives of an organization are less likely to be met if risk management are not properly embedded within an organization.as far as risk management is concerned, various stakeholders need to be involved in various stages related with risk management.

Risk Communication

Risk communication is generally defined as an interactive process of exchange of information and opinion, involving multiple messages about the nature of risk and risk management. This applies to internal communication in the organization, and communication to external stakeholders.

Effective  internal  and  external  communication  is  important  to  ensure  that  those responsible for implementing risk management, and those with a vested interest, understand  the  basis  on  which  decisions  are  made  and  why  particular  actions  are required. Objective of communication in risk management may include the following:

1.   Building awareness and understanding about a particular issue,
2.   Learning from stakeholders,
3.  Influencing the target audience,
4.  Obtaining a better understanding of the context, the risk criteria, the risk, or the effect of risk treatments,
5. Achieving an attitudinal or behavioral shift in relation to a particular matter.

Risk Consultation

Consultation can  be described  as  a process  of  informed communication  between  an organization and its stakeholders on an issue prior to making a decision or determining a direction on a particular issue.

Consultation  is  a  process  not  an  outcome,  it  impacts  on  decision  making  through influence rather than power, and it is about to decision making not necessarily joint decision making.

Communication and consultation with internal and external stakeholders are fundamental to effective risk management and should take place at each step of the risk management process as far as necessary.

However it is important to note that, Communicate and Consult and Monitor and Review are ongoing activities that occur at each stage in the risk management process. Therefore, these activities are discussed both as separate risk management process steps and as sub-activities of each of the risk management process