Risk Management Software: Risk Treatments

Risk treatments are used to respond to the risk. The risk manager uses the risk information from the risk register to establish an action plan and assign responsibilities. The goal of risks treatments are to mitigate the risk.

Usually, there are different options on how to respond to a risk. The risk manager makes a decision based on feasibility, effectiveness and efficiency of the risk treatments and select the most practical way of reducing risk to an acceptable level.

The effectiveness of a treatment can be achieved through:

Reduction of the likelihood of occurrence
Reduction of the consequences of occurrence
Transfer (fully or partly) of the risk
Retaining the risk

Risk Treatments in Risk Register software

Users of Risk Register are able to record treatment actions to reduce the likelihood or mitigate the consequences.

This module allows for sophisticated management of treatments including due date/owner alerts and cost-benefit analysis of treatments. It is ideal for organisation wide general risk management where considerable dollar values are involved in treatments.

This software allows you to manage risk treatments in 2 stages:

The first step is to enter risk treatments.
Then their effect on risk rating and retained risk is determined.