Lesson Plan for Senior Secondary 2 - Insurance - Risk Management Ii

# Lesson Plan: Risk Management II ## Subject: Insurance ## Grade: Senior Secondary 2 ## Duration: 60 minutes ## Topic: Risk Management II ### Learning Objectives: 1. Understand the concept of risk management. 2. Analyze different types of risks. 3. Learn about risk assessment and risk mitigation strategies. 4. Apply risk management principles to real-world scenarios. ### Materials Needed: - Whiteboard and markers - PowerPoint presentation - Handouts (containing key points and case studies) - Projector - Notebooks and pens ### Lesson Outline: #### Introduction (10 minutes) 1. **Welcome and Recap**: Briefly review the previous lesson on risk management to ensure students remember key concepts. - Ask a few questions to stimulate their memory. - Example questions: - What is risk? - Can you name some types of risks? 2. **Introduction to Today’s Topic**: Explain the focus of today’s lesson: expanding on risk management to discuss risk assessment and strategies for mitigating risks. #### Direct Instruction (20 minutes) 1. **PowerPoint Presentation**: - Slide 1-3: Definition and Importance of Risk Management - Slide 4-6: Types of Risks (e.g., personal, professional, property, liability) - Slide 7-9: Steps in Risk Management (Risk Identification, Risk Assessment, Risk Mitigation, Monitoring & Review) 2. **Handouts**: Provide handouts summarizing the key points from the presentation. #### Guided Practice (15 minutes) 1. **Case Study Analysis**: Divide students into small groups and distribute a case study. - Example Case Study: A company facing potential risks in launching a new product. - Each group should identify the risks, assess them, and propose mitigation strategies. 2. **Group Discussion**: Have each group present their findings to the class. Encourage other students to ask questions and provide feedback. #### Independent Practice (10 minutes) 1. **Scenario-Based Questions**: Prepare a set of scenarios where students individually identify risks, assess their impact, and suggest mitigation steps. - Example Scenario: An individual planning a cross-country trip during hurricane season. #### Conclusion and Assessment (5 minutes) 1. **Review Key Points**: Summarize the main points covered in the lesson. - What is risk assessment? - What are the common strategies for mitigating risks? 2. **Q&A Session**: Allow students to ask any remaining questions. 3. **Exit Ticket**: Each student writes down one thing they learned and one question they still have about risk management. ### Homework: - **Research Assignment**: Students are to research a real-world example of a risk management failure. They should write a one-page report on what went wrong and how it could have been avoided through better risk management practices. ### Evaluation: - Participation in group discussions and presentations. - Quality of answers in scenario-based questions. - Completeness and thoughtfulness of the exit ticket. - Grading of the homework assignment for depth of analysis and understanding.