Which of the following tools are used Risk managers for communication between stakeholders and interested parties?

According to ISO 31000:2018, the risk management process includes "Recording and reporting" (Clause 6.7). This clause emphasizes that the process and its outcomes should be documented and reported through appropriate mechanisms. These documented outputs, such as risk registers, risk assessment reports, and meeting minutes, are formally considered "records." The primary purpose of reporting is to communicate risk management activities and outcomes to stakeholders and interested parties, providing a basis for decision-making and ensuring transparency. Therefore, records are the fundamental tools used for this communication.

A. Database: A database is a system for storing and organizing data. While it holds risk information, it is not the communication tool itself; reports generated from it are.
C. Bio-data: This is a document containing an individual's personal and biographical details, which is irrelevant to communicating organizational risk information.
D. Resume: A resume is a document used for job applications to summarize an individual's professional qualifications and is not used for stakeholder risk communication.

1. ISO 31000:2018, Risk management — Guidelines, Clause 6.7, "Recording and reporting." This section states, "The purpose of reporting is to communicate risk management activities and outcomes across the organization... Reporting is an integral part of the organization’s governance." This directly links the creation of documented information (records) to communication with stakeholders.

2. Lalonde, C., & Boiral, O. (2012). "Managing risks and learning in organizations." Journal of Workplace Learning, 24(4), 213-229. The paper discusses the implementation of risk management systems like ISO 31000, highlighting that formal documentation and reporting (i.e., records) are essential for communicating risk culture and information to internal and external stakeholders. (DOI: https://doi.org/10.1108/13665621211223341)

3. University of Queensland. (2023). MINE7037 - Risk Management Course Profile. School of Mechanical and Mining Engineering. The course, based on ISO 31000 principles, outlines that a key component of the risk management process is reporting, which involves creating documented records to inform management and other stakeholders about the organization's risk profile and the effectiveness of controls.