I will try to answer this, and I hope I do not lead us both astray.
In her book, Rita said something that really stuck with me (pg. 379):
"... there is a strong connection between planning communications and decreasing risk."
I think that in the past, I could have mitigated a lot of risk simply by having a much more detailed communications plan. As status meeting discussions should be very risk-centric, a solid communications plan with have methods for disseminating the data from these meetings to all stakeholders. And don't forget, stakeholders should be heavily involved in identifying risks.
So to try to answer your question, I would say it takes place in the "plan communications" process. But your question really highlights how intertwined the communication and risk processes are in their application.
Moderators: Yolanda Mabutas, Ahmed Amin, Scott Gillard, Mary Kathrine Padua, ERIC BARTLETT, Gail Freedman, Kevin Nason, Steven Mudrinich, PMP, Mark Wuenscher, PMP, John Wolverton, Tracy Shagnea, PMP, Jada Garrett
This interview with Simona Fallavollita (LinkedIn Profile) was recorded at the magnificient Project Management Institute (PMI)® Global Conference 2017 in Chicago, Illinois. We discuss the how, what, why and when of the changes that are coming to the PMP exam.