Risk management

Before listing the various risk treatment options, let's return to the fact (already mentioned) that there are only two ways of treating a risk, since its assessment is characterized by two factors: its likelihood and its severity. Either we change the likelihood, i.e. prevention, or we change the severity, i.e. protection. Prevention and protection presuppose that we know how to assess the risk, and how to measure its likelihood and severity. However, this is only the case for what we traditionally call "proven risks", those whose causes and consequences we can say with some certainty. It is these measurable, assessable risks that are the focus of risk management... and the following paragraphs of this chapter.

Sometimes,...