ABSTRACT
The risk management cycle is risk reporting. It provides information on the status of managing risk and prepares the groundwork for effective decision-making. Regardless of which of the two mechanisms used, risk reports should have several characteristics. These are grouped into three categories: qualitative, content, and display. The content of a risk report, of course, is extremely important. Enough information for the audience or readership to effectively decide on a specific issue should be presented, as well as essential assumptions, facts, and data. A written report works best when a permanent record of the assessment is necessary for future use; when people who can’t attend need the information; and when time is available to prepare the report itself. An alternative or complement to the written report is the oral report. The oral report has all the characteristics of a well-written report and follows the same structure.
