Question

In: Finance

What are the different risk management techniques (tools or measures) government has applied to manage the...

What are the different risk management techniques (tools or measures) government has applied to manage the following risks:
a) dengue
b) COVID-19

Solutions

Expert Solution

Government has applied various tools to manage risk associated with-

A. Dengue- government has applied various risk management tools like-

I. Surveillance tools like incident maps has been implemented by government in order to minimise the risk associated with dengue.

II. Since the disease was related to to changing climate so government has right to monitor the climatic change and proactively manage the risk associated with increase of dengue.

III. Government has also tried to issue various kinds of bailout packages and help support activities in order to help those who are associated with this disease.

IV. Continuous monitoring of the situation through centralised system which will be helpful in order to manage the risk .

V. Adequate tools for establishment of various reporting standard which will be helpful in order to contain the disease.

Risk management tools in respect of covid-19 are as follows-

A. Government has issued a medical bailout package to various sections of the society in order to prevent them from any financial burden arising out of covid-19.

B. Government has also tried to reduce the overall costs associated with testing of the disease.

C. Proactive measures were taken in order to lock down the economy and shutting down the business of the contagion can be stopped.

D. Proper Quarantine facility has been adopted by the government in order to content the spread of the virus.


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