The accuracy of risk-related information facilitates risk communication and allows for precise analyses. In particular, the risk statement provides the actual description of the unwanted event or set of circumstances, while the risk context maps that event or circumstances to certain activities in the project work breakdown structure. This way a vague description of a general event can be complemented with the details of a project task resulting in a well-situated definition of a risk. However, the activities themselves cannot be considered as the only elements of a risk context. The context includes also the personnel responsible for the activities together with the source materials and output products. The context elements should be explicitly referred to in the risk statement to allow for focused and precise risk identification and communication.