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TREAT RISKS

Risk treatment involves identifying the range of options for managing risks, assessing these options and implementing risk management plans.

  • Develop action plans for maximising potential benefits and minimising potential losses – these can range from stopping the risky activity altogether to accepting the risks with appropriate measures in place

  • Balance the costs of implementing each option against the benefits derived from it
  • Document implementation plans including proposed actions, resources required, responsibilities, timings, performance measures and reporting requirements
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