In risk management, what do risk treatment procedures aim to achieve?

Risk treatment procedures are essential components of risk management that focus on how to address identified risks effectively. The primary aim of these procedures is to determine strategies for managing risks, which can include reducing the likelihood of risks occurring, avoiding risks altogether, or transferring risks to other parties through strategies such as insurance or outsourcing.

By implementing risk treatment procedures, organizations can create a structured approach to mitigating potential threats to their assets and operations. This involves assessing the risks identified during the risk assessment phase and deciding on the most appropriate methods to handle each risk. The chosen treatment may combine different strategies to achieve an optimal balance between exposure and control, ensuring that the organization can pursue its objectives with a reduced level of risk.

While identifying business objectives, performing risk evaluation, and establishing compensating controls are all important elements of a comprehensive risk management framework, they do not specifically embody the goal of risk treatment procedures, which is focused on actively managing and mitigating risks.