What is the best way to report high impact risk event occurrences to project stakeholders?

Discussion Topic: Monitoring, controlling, and reporting risks
Monitoring and controlling risks require the Project manager and his/her team to show applied knowledge in risk management. The primary objectives of risk monitoring are to observe the implementation of agreed-upon risk response plans, track identified risks, identify and analyze new risks, and evaluate the risk process effectiveness throughout the project. Controlling risks ensures that risk response plans are executed at the appropriate time, and evaluate their effectiveness throughout the project life cycle. Based on your experience and/or your knowledge gained from this class, discuss the following questions:
What is the best way to report high impact risk event occurrences to project stakeholders?
How can earned value management (EVM) be used as an effective risk monitoring tool?
Reminder: A high quality post is one that explicitly links your personal opinion or experience with the course materials or other relevant outside sources using proper APA format. Both in-text citations and a reference list are required for this discussion. You may earn up to 10 points. I will use the attached rubric to grade your participation.