# 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.