According to the CRISC Review Manual1, risk scenarios are hypothetical situations that describe the potential causes, impacts, and responses of a risk event. Risk scenarios are useful tools for identifying, analyzing, and communicating risks in a clear and understandable way. The most important factor when developing risk scenarios is to ensure that they are relevant to the organization, as this helps to capture the specific context, objectives, processes, and resources of the organization, and to reflect the actual risk exposure and appetite of the organization. Relevant risk scenarios also help to engage and involve the stakeholders, and to facilitate risk-based decision making and action planning. References = CRISC Review Manual1, page 206.