What is the role of a stakeholder in risk management?

Expert Solution

Risk can be managed better through involvement if stakeholders in many important decision making. Stakeholders can ask rigjt questions at the right time and their suggestion and ideas may fit according to the requirements are the groups who are interested in the position outcome for the company. Stakeholders should invest their time with organisation by understanding the requirement, analysing the concerns and challenge and can come up with resolving ideas. The group thinking and colloborative efforts from stakeholders can help in mitigatting many risk related situations. They can be an important part in risk assesmenas sessions and collective ideas will help them to make final deciodec on any particular assessments. The success and failure chances of project can be evaluated through combined session with stakeholders where they can give their inputs from the experience they gather from outside market or with other similar organizations. This a proper risk management can be design and execute with the help of stakeholders.

keosha answered 7 months ago

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