Expert Analysis
For certain types of risks it may be appropriate for the experts to define the risk (and the treatments expected), compliance risks (such as Health and Safety) are often best identified by experts. The choice on how to explore and disseminate the risk will then depend upon company requirements and expert preferences.
Pros
- May be the only option for certain complex risks the organisation faces
- Can provide insight that would not be available through other routes
- Can give a credibility to the information that may not be otherwise possible
- Can access tools / techniques that could uneconomical to acquire
Cons
- Can be costly (particularly if the company has to hire in the resource) and time consuming.
- If information is not captured in the right way it may be difficult to use within the organisation (can non-experts access it)