Treat risks and prepare a treatment plan to treat risks.
In this assessment task, you are required to determine control measures to treat risks and prepare a treatment plan to treat risks.
1. Determine control measures to treat risks for all the risks you identified and evaluated in Assessment 1. You may include:
a hierarchy of controls
b reduction in likelihood of risks
c. reduction of consequences of risks
d retention of risks
e. risk aversion
f. transfer of responsibility of risks
2. Prepare a treatment plan for implementing your recommended control measures. (NOTE: Use the forms provided in Session 2)
3. Some of the control measures you recommended are public Liability insurance, staff safety training, and installation of fire extinguishers. You called one insurance company and decided to go for their product. Yet you heard that another insurance company is providing better coverage for public Liability insurance at a lower cost. You decided to investigate further. Review effectiveness of the insurance coverage using the following metrics:
a. costs
b. reductions in impact
c. reductions in likelihood
d. reductions in occurrence
e. Provide evidence of your business insurance price quote investigation.