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.

Adoption Rate Jonathan Poland

Adoption Rate

Adoption rate refers to the speed at which users begin to utilize a new product, service, or feature. It is…

Project Communication Jonathan Poland

Project Communication

Project communication is the exchange of information and messages that occurs during the planning, execution, and evaluation phases of a…

Employee Retention Jonathan Poland

Employee Retention

Employee retention refers to the success of a company in keeping its talented employees from leaving. High employee turnover can…

Abundance Mentality Jonathan Poland

Abundance Mentality

Abundance mentality is the belief that there is enough for everyone, and that abundance, rather than scarcity, should be the…

Sticky Information Jonathan Poland

Sticky Information

Sticky information is information that is difficult to transfer. This is an analogy that information that knowledge “sticks” to people,…

Reverse Distribution Jonathan Poland

Reverse Distribution

Reserve distribution is the process of distributing a reserve, which is a reserve amount of money or other resources that…

Captive Market Jonathan Poland

Captive Market

A captive market is a market where a group of customers is forced to buy from a limited number of…

Operating Agreement Jonathan Poland

Operating Agreement

An LLC operating agreement is a legal document that outlines the rules and procedures for a limited liability company, including…

Product Features Jonathan Poland

Product Features

A product feature is a characteristic or aspect of a product that contributes to its overall functionality and performance. Product…

Learn More

Deep Learning Jonathan Poland

Deep Learning

Deep learning is a type of machine learning that involves the use of artificial neural networks to learn and make…

Risk Management Techniques Jonathan Poland

Risk Management Techniques

Risk management is the process of identifying, assessing, and prioritizing risks in order to minimize their potential impact on an…

Recruiting Jonathan Poland

Recruiting

Recruiting refers to the process of attracting, screening, and selecting qualified candidates for employment. This process is essential for any…

Waste is Food Jonathan Poland

Waste is Food

The concept of “waste is food” is based on the idea that an industrial economy should not produce any waste except for biological nutrients that can be safely returned to the environment.

Key Employees Jonathan Poland

Key Employees

Key employees, or key personnel, are individuals who possess unique skills, knowledge, or connections that make their prolonged absence or…

Real Estate Investing Jonathan Poland

Real Estate Investing

Real estate investing refers to the process of buying, owning, managing, and selling real estate properties for the purpose of…

Procurement Risk Jonathan Poland

Procurement Risk

Procurement risk is the risk of financial loss or other negative consequences that may arise from the process of procuring…

Feedback Loop Jonathan Poland

Feedback Loop

A feedback loop is a process in which the output of a system is used as input to adjust the…

Product Rationalization Jonathan Poland

Product Rationalization

Product rationalization is the process of reviewing and optimizing a company’s product portfolio in order to streamline operations and reduce…