Assignment: Risk Management

For this assignment, you will be implementing outcomes to a scenario pertaining to risk management.

This situation is based on the following: a renter of a townhome, the landlord – owner of the townhome, and the wooden fence that surrounds the renter’s backyard. The townhome is located steps away from a busy walking path located directly behind the wooden fence. One of the wooden panels on the fence dry-rotted and fell, which allows for a direct view and access into the back yard and porch of the tenant. The renter has asked the landlord multiple times to repair the fence to no avail. The situation worsens after the tenant purchases a scooter to travel to and from work. She does not have a garage and parks her scooter on her back porch.

In a one-to-two page paper, explain what would happen if the tenant’s scooter was stolen by associating each of the following risk management methods to her loss: risk mitigation, risk transference, risk sharing, risk avoidance and risk acceptance. Within your paper, be sure to explain who you think would be held responsible.