Whatever we do or we do not is based on a decision. Risk decision in any aspect of our business relationship, even outside of it, should be guided by an adequate and informed risk treatment options. The webinar discussed the definition and 7 options of risk treatment, concluding with risk treatments dealing with negative consequences. Main points that have been covered are: • Risk treatment and ISO 31000 definition • 7 options of risk treatment • Risk treatments dealing with negative consequences Presenter: Mr. Monday Utomwen is a PECB Certified Trainers and ISO 31000 Lead Risk Manager. He has over 10 years professional experience in managing risks, working in both public and private organizations. Link of the recorded session published on YouTube: https://youtu.be/1Y-vtrraxsU

1. RISK TREATMENT
Alignment with ISO 31000
Utomwen Monday
PECB Certified ISO 31000 Lead Risk Manager

2. MONDAY UTOMWEN
ISO 31000 Lead Risk Manager / PECB Certified Trainer
Monday Utomwen is a PECB Certified Trainer and ISO 31000 Lead Risk Manager.
He has over 10 years professional experience in managing risks, working in both
public and private organizations. Monday has played the role of a Chief Risk
Officer for 2 organizations, he is skilled, qualified and certified as a risk
trainer and he is very enthusiastic about his presentations and delivery of risk
information.
Contact Information
0815-668-3303 mondayutomwen@gmail.com linkedin.com/in/mondayutomwen

3. Whatever we do or don’t do is based on a decision. Risk decision in any
aspect of our business relationship, even outside of it, should be guided by
an adequate and informed risk treatment options.
If we treat every other thing that has to do with our health, why not risk?
INTRODUCTION

4. The ISO standard on risk management
defined risk treatment as “the
process to modify risk”.
DEFINITION

5. Once a risk has been identified a
decision need to be made about such
risk, which could involve any of the
following 7 Risk Treatment Options:
RISK TREATMENT OPTIONS

6. AVOID THE RISK
Avoid the risk by deciding not to start
or continue with the activity that gives
rise to the risk
OPTION 1

7. OPTION 2
TAKE ON MORE RISK
Take on more risk
advantage
in order to
of anpursue or take
opportunity

8. OPTION 3
REMOVE THE RISK SOURCE
By removing the risk source a
risk can be modified to the
desired level

9. OPTION 4
CHANGE THE PROBABILITY
Altering or Changing the
likelihood could be the best
risk treatment option

10. OPTION 5
ALTER THE CONSEQUENCES
Altering the outcome or changing
the consequences of an event can
modify the risk

11. OPTION 6
SHARE THE RISK
Just like a problem shared is half way
solved, so also, Sharing the risk with
another party or parties, including
insurance and other mechanisms
could be an effective risk treatment

12. OPTION 7
RETAIN THE RISK
Retaining the risk by informed
decision, this is critical when it is
about risk-benefit

13. Risk treatments that deal with negative
consequences are sometimes referred to as:
 Risk mitigation
 Risk elimination
 Risk prevention
 Risk reduction
Negative Consequences

14. As a risk manager you must decide which of
these risk treatment options to implement
so the risk can be acceptable or within the
desired threshold.
CONCLUSION

15. ISO 31000 Training Courses
 ISO 31000 Introduction
1 Day Course
 ISO 31000 Foundation
2 Days Course
 ISO 31000 Risk Manager
3 Days Course
 ISO 31000 Lead Risk Manager
5 Days Course
Exam and certification fees are included in the training price.
www.pecb.com/iso-31000-training-courses| www.pecb.com/events

16. THANK YOU
?
123 456 789
name.surname@domain.com
www.domain.com
linkedin.com/name.surname
twitter.com/name.surname
fb.com/name.surname