Session 5: Risk treatment

Introduction

In Session 5 you will build on the learning from previous sessions to consider probably the most important part of risk management, referred to in the ISO diagram as risk treatment.

Maximise

Figure 1 ISO 31000 diagram – risk treatment

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This is the ISO31000 standard, it consists of 3 core steps; Step 1: Scope, Context, Criteria, Step 2: Risk Assessment, Step 3: Risk Treatment. Step 2 is further broken down into 3 further steps: Risk Identification, Risk Analysis and Risk Evaluation. Two parallel process operate across these steps: Communication and Consultation and Monitoring and Review. Recording and Reporting sits as a step across all activity. In this image, risk treatment is highlighted in green.

Figure 1 ISO 31000 diagram – risk treatment

You will underline some of the concepts discussed in previous sessions, in particular risk appetite and risk assessment, and you will consider the most common approaches to risk treatment, including:

• controls
• actions
• risk transfer.

By the end of this session, you should be able to:

• have an overview of treatment
• understand treatment strategies
• understand an introduction to mitigation through action
• demonstrate knowledge of an introduction to controls
• understand assessing treatment effectiveness
• produce an example of a treatment plan.

Now begin Session 5.