Experts are the people or groups who have focused knowledge or education in specific area. Expert judgment is a priceless basis of information in risk management. Particularly, risk based decision making is majorly dependent on quantitative risk evaluation, which needs the mathematical figures, but expert judgment needs just experience. The experts are seen to be important assets of any business because they can give inputs for carrying out the task and their suggestions are seen to be very critical (Wilson, 1994). These experts can be the clients, stakeholders, managers or anybody who can help in the planning and risk identifying procedures. This approach not only saves times, but also focuses on the risks that have to be kept in mind while carrying out the tasks. These are value-add for the forecasts and estimations. Expert judgment is a method of decision-making that depends on understanding from specialists in a particular topic, subject, regulation or industry. Such as the outlooks of experts can be sought on software schemes when assessing the period of acts or planning; what business strategy to follow for particular kinds of tasks.