Risk Treatment: Cost versus Benefit
3,282 views · Published 25 April 2016 · 34:40 · Indexed 19 October 2026
Channel: PECB · 2016 · Education
To treat or not to treat risks? It can sometimes be a dilemma. How much should be spent in treating risks? At what point is it desirable to stop spending on risk reduction? With an understanding of risks as the effect of uncertainty on the achievement of objectives, it is vital to consider threats as well as opportunities. Having done thorough risk assessments, organizations need to move with pace to treating risk, implementing steps to reduce threats or maximize the value of opportunities. In this webinar, the presenter explores risk treatment as a key process in risk management, the various options available and how decisions are made on options, taking costs and benefits into consideration. Main points covered: • The importance of risk treatment in an effective risk management system • Determining whether to treat or not to treat risks(cost/benefit analysis and the ALARP principle) • Options for treating risks • Conclusions Presenter: This session was presented by PECB Trainer, Jacob McLean, Principal Consultant and Managing Director of Kaizen Training & Management Consultants Limited. Date: April 21, 2016 Organizer: Alba Keqa, PECB - https://www.pecb.com/ Slides of the webinar: http://bit.ly/1T8Cbyy
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