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What is Risk Management?
The Process
Guiding Principles
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Step 1
Step 2
Step 3
Step 4
Step 5
Purpose
What to do and how to do it?
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Decision
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Step 6
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What to do and how to do it?

To this point in the process, the hazards, events and risks have been analysed. Now the risks will be compared in terms of the values that were developed in Step 3.

A: Identify options

Identify feasible adaptation or risk control options:
  • Identify all potential adaptation responses that could reduce the frequency or the consequences of the risks.
  • Typically, an adaptation or risk reduction strategy will consist of a portfolio of measures. For example, there may be some short-term actions to deal with immediate concerns, as well as some more comprehensive longer term actions. Together, these measures should offer a cost effective means for reducing unacceptable risks to acceptable levels.
  • Some examples of risk control measures could include inspection, monitoring, research, planning, relocation, changed guidelines or standards, mapping, updating emergency plans, developing capacity, etc.



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