Risk reports summarize potential risks a company may face, including critical risks with severe consequences and emerging risks. They explore options to address risks and prevent negative outcomes. Risk reports are important because they help managers and owners understand project risks and ensure senior management is aware of risks, which allows companies to plan for unexpected issues. Risk reports typically include a risk register identifying risks and responses, a risk mitigation plan, project schedule updates, and a comparison of current project status to expectations.

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.