Many companies and organizations have implemented the four step project risk management process documented in the AACE International (AACE) Total Cost Management Framework. However, concerns arise during the fourth step of controlling risks. One of the main drivers behind this is a lack of communication.

This paper will discuss communication as it relates to risk management. The first topic is the purpose of communication regarding project risk and a very brief review of basic principles. Next the paper covers the stages of a project lifecycle and how to communicate during each phase. Then the paper will discuss communication roles and responsibilities, and the flow of communication with communication going both directions.