What does AS ISO 31000:2018 say about managing risk?

• Risk treatment options are not necessarily mutually exclusive or appropriate in all circumstances. • Options for treating risk may involve one or more of the following: – avoiding the risk by deciding not to start or continue with the activity that gives rise to the risk; – taking or increasing the risk in order to pursue an opportunity; – removing the risk source; – changing the likelihood; – changing the consequences; – sharing the risk (e.g. through contracts, buying insurance); – retaining the risk by informed decision