CRISC Certified in Risk and Information Systems Control – Question147

Which of the following statements are true for risk communication? Each correct answer represents a complete solution. Choose three.

A.
It requires a practical and deliberate scheduling approach to identify stakeholders, actions, and concerns.
B. It helps in allocating the information concerning risk among the decision-makers.
C. It requires investigation and interconnectivity of procedural, legal, social, political, and economic factors.
D. It defines the issue of what a stakeholder does, not just what it says.

Correct Answer: ACD

Explanation:

Explanation: Risk communication is the process of exchanging information and views about risks among stakeholders, such as groups, individuals, and institutions. Risk communication is mostly concerned with the nature of risk or expressing concerns, views, or reactions to risk managers or institutional bodies for risk management. The key plan to consider and communicate risk is to categorize and impose priorities, and acquire suitable measures to reduce risks. It is important throughout any crisis to put across multifaceted information in a simple and clear manner.
Risk communication helps in switching or allocating the information concerning risk among the decision-maker and the stakeholders.
Risk communication can be explained more clearly with the help of the following definitions:

  • It defines the issue of what a group does, not just what it says.
  • It must take into account the valuable element in user’s perceptions of risk.
  • It will be more valuable if it is thought of as conversation, not instruction.

Risk communication is a fundamental and continuing element of the risk analysis exercise, and the involvement of the stakeholder group is from the beginning. It makes the stakeholders conscious of the process at each phase of the risk assessment. It helps to guarantee that the restrictions, outcomes, consequence, logic, and risk assessment are undoubtedly understood by all the stakeholders.
Incorrect Answers:
B: It helps in allocating the information concerning risk not only among the decision-makers but also stakeholders.