An organization determines their relevant interested parties and their relevant expectations. For example, imagine a company that considered subcontractors as one of their relevant interested parties. They are important because they perform part of the production and allow flexibility and increased responsiveness.
When assessing risks, the company considered their relevant interested parties as an input information. Regarding their subcontractors they identified one risk and one opportunity. A major factory producing the same kind of products as the subcontractors closed, there is the risk of losing negotiating power with the subcontractors once other companies, former clients of the now closed factory can start looking for alternatives. As an opportunity, the same company realized that the owner of one of their subcontractors is very old and has no sons or daughters to continue the business, they decided to study a financing project to bu y the subcontractor operation and make him an offer.
The following material will provide you information about the risk-based approach and interested parties: