Risk Management

What is a risk?

• Any future event that can influence an event negatively

• Any future event that can influence an event positively

• Any future event that cannot influence an event negatively

• Any past event that can influence the event

What is risk management?

• Risk management is a systematic process of using administrative directives, organizations, and operational skills and capacities to implement strategies, policies and improved coping capacities in order to lessen the adverse impacts of hazards and the possibility of disaster.

• Risk management is an analysis of the strategies to take action on improving the event to reduce the effect of CO2 on the lives of lady bugs

• Risk management comprises of a risk assessment and analysis, and the implementation of strategies and specific actions to control, reduce and transfer risks.

• Risk management is a systematic process of using human resource directives, and people to implement strategies, policies and ways to reduce the impacts of candy floss on the health of people attending the event

Why is it important to do a risk assessment?

• To identify possible risks for the event

• To ensure the event is safe

• To reduce the risk of people getting hurt

• To avoid any negative publicity

To transfer a risk means to...

• formally or informally shifting the consequences of risks from one party to another

• lessen/ limit the  impacts of hazards & related disasters that can lessen the impact to a level that is acceptable

• risk is reduced and measures are implemented to make the impact of the risk less or less likely to happen

• eliminate the risk completely

To tolerate a risk means to...

• formally or informally shifting the consequences of risks from one party to another

• lessen/ limit the  impacts of hazards & related disasters that can lessen the impact to a level that is acceptable

• risk is reduced and measures are implemented to make the impact of the risk less or less likely to happen

• eliminate the risk completely

To terminate a risk means to...

• formally or informally shifting the consequences of risks from one party to another

• lessen/ limit the  impacts of hazards & related disasters that can lessen the impact to a level that is acceptable

• risk is reduced and measures are implemented to make the impact of the risk less or less likely to happen

• eliminate the risk completely

At a music concert, there will be a lot of money that needs to be taken to the bank. To appoint a professional cash-in-transit service instead of carrying large sums of money to the bank is an example of the risk being

• Transferred

• Tolerated

• Treated

• Terminated

To move your outdoor event indoors due to the high likeliness of rain is an example where the risk was....

• Transferred

• Tolerated

• Treated

• Terminated

Level 3 load shedding is announced for the date of an event. Hence, the event organizers use a generator as a backup for when load shedding is implemented. This is an example where the risk was...

• Transferred

• Tolerated / Accepted

• Treated / Reduced

• Eliminated

To ban gas stoves at an event to prepare food, to eliminate the open fires, is an example where the risk was

• Transferred

• Tolerated

• Reduced

• Eliminated