What is Risk Communication?

What is Risk Communication?

What is Risk Communication? Jonathan Poland

Risk communication involves informing people about potential hazards and the steps that can be taken to prevent or mitigate those risks. This process can include providing warnings, disclosing information, and engaging in two-way communication to effectively manage and address risk. The following are illustrative examples.

Disasters
A government agency calculates the risk of an earthquake based on the frequency of historical earthquakes in a region. They regularly communicate the risks to the public in a variety of media in order to encourage preparation such as earthquake resistant construction.

Health
A product that is known to be unhealthy is required to display a warning on its label in a particular country, province or state.

Environment
A city warns of forecast poor air quality and communicates restrictions put in place to mitigate the situation.

Safety
A construction company conducts mandatory annual safety training for all employees that includes a breakdown of the most common safety risks related to different types of construction sites. Training is aimed at creating awareness of common risks and communicates actions that can be taken to reduce risk.

Financial Risk
A financial advisor accurately communicates investing risks to clients including factors such as volatility, liquidity risk, concentration risk and the risk profile of an asset or security.

Project Risk
A project manager communicates a risk management plan to stakeholders. All stakeholders are given an opportunity to identify risks and provide ideas for reducing risk. Risk owners are asked to sign off on the risk management plan. As new risks are identified, the process repeats.

Business Risk
A purchasing manager at a manufacturing company warns operations and marketing teams of a possible shortage of parts due to supply chain disruptions.

Moment of Risk
A telecom company warns its corporate customers of maintenance to network infrastructure that may impact performance or result in downtime.

Learn More
Research Types Jonathan Poland

Research Types

Research is the process of systematically seeking and interpreting knowledge through inquiry, observation, experimentation, and analysis. It is a way…

Inherent Risk Jonathan Poland

Inherent Risk

Inherent risk is a term used in the field of auditing to describe the risk that a company’s financial statements…

Customer Acquisition 101 Jonathan Poland

Customer Acquisition 101

Customer acquisition is the process of acquiring new customers for a business or organization. It involves identifying potential customers, creating…

Barriers to Entry Jonathan Poland

Barriers to Entry

Barriers to entry refer to factors that make it difficult for new companies to enter a particular market. These barriers…

Consumer Services Jonathan Poland

Consumer Services

Consumer services are services that are provided to individual consumers, rather than to businesses or organizations. These services are typically…

Pricing Techniques Jonathan Poland

Pricing Techniques

Pricing involves carefully considering various factors in order to determine a price that will maximize a company’s profits over the…

Risk Acceptance Jonathan Poland

Risk Acceptance

Risk acceptance involves consciously deciding to take on a risk, often because the potential reward outweighs the potential negative consequences…

Examples of Tact Jonathan Poland

Examples of Tact

Tact is the ability to sensitively and skillfully handle a situation or conversation so as to avoid giving offense. It…

Self-Assessment Jonathan Poland

Self-Assessment

Self assessment is the process of evaluating one’s own work performance and identifying areas for improvement. This can be a…

Content Database

Experience Goods Jonathan Poland

Experience Goods

Experience goods are products or services that are consumed through an experiential or participatory process. They are characterized by their…

What is the Iterative Process? Jonathan Poland

What is the Iterative Process?

An iterative process is a method of working through a problem or project by repeating a series of steps, each…

Operational Efficiency Jonathan Poland

Operational Efficiency

Operational efficiency can be defined as the ratio between the inputs to run a business and the output gained from the business. It is primarily a metric that measures the efficiency of profit earned as a function of operating costs.

Human Behavior Jonathan Poland

Human Behavior

Behavior is a pattern of actions or reactions that varies depending on factors such as context and mood. It is…

Product Development Jonathan Poland

Product Development

Product development is the process of designing, creating, and launching new products. It typically involves a number of different steps,…

Prototyping Jonathan Poland

Prototyping

A prototype is a preliminary version of something that is used to test and refine an idea, design, process, technology,…

Atkore Inc. Jonathan Poland

Atkore Inc.

Atkore Inc. (ATKR), a leading industrial products manufacturer, has three major segments: Electrical, Cable Solutions, and Tubing Solutions. The Electrical…

Productivity Rate Jonathan Poland

Productivity Rate

Productivity rate is a measure of the efficiency with which a company or organization produces goods or services. It is…

Alpha Metallurgical Resources Jonathan Poland

Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc. (AMR), a prominent mining company, is engaged in the production, processing, and sale of both metallurgical…