ABOUT RISK REPORTING

1. Risk Reporting
BY: V.JAYA MOHAN KRISHNA

3. Meaning Of Risk Report
• A risk report is a summary that describes the
potential risks a company may face.
• They address critical risks, which have the
potential for severe consequences, and emerging
risks that may become problematic in the future
if someone doesn't monitor them closely.
• A report also explores possibilities for
addressing risks and preventing adverse
outcomes. The project manager, the
project team or the risk owner writes
the reports.
• Eg: Director’s Report, Auditor’s Report, Income
Statement & Balance Sheet

4. Objectives of Risk Reporting
• To fulfill statutory requirements.
• To provide a record of activity underconsideration.
• To aid planning & control.
• Toensure continuity in policies & programs of the firm.
• To provide a quick review
.
• To facilitate timelycommunication.

5. Risk Report Importance...
• Risk reports are important because they help project managers,
project owners and clients better understand various risks the
company is taking whileworking on a project.
• Having an accurate and informative report ensures that senior
management knows of existing risks. This knowledge can help a
companycreate a plan to avoid unwanted surprises and
unauthorized actions.

6. Risk Report Include's...
Risk reports often include the following information:
• Risk register: This identifies potential risks in an organization, their
impact, probability, owner, how it ranks compared toother risks and the
risk response.
• Risk corrective action plan: This is a plan for mitigating the risk if it
occurs.
• Work performance data reviews: These include any data collected to use
to assess risks.
• Project schedule and updates on the progress: This includes the planned
project schedule and anyexpected changes to the program.
• Status of the project outcome: This compares the current status of a
project to the expected plan.

7. INTERNAL REPORTING
• Corporate level
• Businessunit level
• Desk level
EXTERNAL REPORTIG
• Regulatory norms
• Voluntary disclosure
Risk Reporting Types...

8. Major Types of Risk Reports
OPERATIONAL REPORTS
FINANCIAL REPORTS
ROUTINE REPORTS
SPECIAL REPORTS
INVESTIGATIVE REPORTS
BUDGET PROPOSAL REPORTS

10. There are various risk reporting agencies

11. There is a separate course for this risk reporting process

13. Conclusion:
Risk reports are important because they help
project managers, project owners and clients
better understand various risks the company is
taking while working on a project. Having an
accurate and informative report ensures that
senior management knows of existing risks.