What is the best way to report high-impact risk event occurrences to

What is the best way to report high-impact risk event occurrences to the project stakeholders?
The high-impact risks need to be communicated to the project stakeholders as they can impact the project the most if it becomes an issue. Also, conveying the risks to the project stakeholders ensures that the stakeholder’s expectations and views are upheld. If the project is running globally and the project stakeholders are located worldwide, it becomes difficult for the project manager to communicate to the project stakeholders effectively. Because of different time zones, it sometimes makes the stakeholders disengaged from the project. In such cases, the project manager should communicate to the stakeholders via a risks assessment reporting system. Communicating with the risks assessment reporting system in the project allows the project stakeholders to know the risks in the project so that they can take the required action in the project. There are several other ways to communicate the risks to the project stakeholders. Some of them are as followed:
Utilize technology: If the stakeholders of the project are located remotely, the project manager should communicate with the stakeholders via communication software such as Zoom, Teams, Emails, etc. Using such communication software allows the project stakeholders to become aware of the predicted risks in the project. 
Using reporting and alerts: “Implementing Robust risk analysis software can provide the project manager with greater insight into project risks and provide the project stakeholders with reliable and quantitative data” (Jarrad). Implementing such software in the project allows the project stakeholders to become aware of what’s happening in the project so that they can take the required action. 
How can earned value management (EVM) be used as an effective risk monitoring tool?
Earned Value Management (EVM) is nothing but the project management methodology that integrates schedule, costs, and scope to measure the performance of the project. “EVM assists the work progress against a baseline plan, relates technical, time and cost performance, provides data for pro-active management action and thus, provides project managers and the project stakeholders with a summary of effective decision making” (2021). In this way, the project manager can use EVM as an effective risk monitoring tool. 
References:
Jarrad, G. (n.d.). How to communicate risk to project stakeholders. Project Management and Risk Analysis Software. Retrieved December 7, 2021, from https://www.safran.com/blog/how-to-communicate-risk-to-project-stakeholders (Links to an external site.).
What is earned value management and why is it important? APMG International. (2021, December 13). Retrieved December 7, 2021, from https://apmg-international.com/article/what-earned-value-management-and-why-it-important (Links to an external site.).