Respected Teacher, Dear Audience. Namaskar and a very good afternoon.

In front of you, This is

Shree Ray Rithik Kumer, holding ID number: 221328512. I belong to the 7th batch, Institute of
Business Administration, University of Rajshahi. Today, I will discuss the risk management
process with an example of Dengue Fever.

Risk Management is a process that identifies loss exposures faced by an organization or individual
and selects the most appropriate technique for treating such exposures. Firstly, we need to identify
the loss exposures. A loss exposure is any situation or circumstance in which a loss is possible. So,
here, the loss exposures can be Healthcare costs, Productivity costs and Death. Healthcare Costs
are expenses related to medical treatments, hospitalization, medications, and doctor's fees for
individuals who are affected by dengue. Since dengue affected people fall ill, they either take sick
leave or are unable to work at full capacity, which leads to Productivity Loss. In severe cases of
dengue fever, individuals may develop complications such as dengue hemorrhagic fever or dengue
shock syndrome, leading to fatalities. The loss exposure here is the loss of human lives or Death.
Let’s now move to Peril. Peril is defined as the cause of loss. In this case, the peril or cause of the
loss is Dengue Fever.

Moving to Hazard, A hazard is a condition that increases the chance of loss. For Dengue Fever, the
hazards are Mosquito Vectors, Water Storage Practices and Lack of Public Awareness.

Mosquito Vectors: Aedes mosquitoes are the primary vectors of dengue virus. These mosquitoes
breed in standing water, and urban environments with improper waste disposal, stagnant water in
containers, and poor drainage systems provide ideal breeding grounds for mosquitoes.
Water Storage Practices: Improper water storage in and around households, such as in uncovered
containers, flower vases, and discarded tires, provides breeding sites for mosquitoes, which can
increase the chance of dengue fever.
Lack of Public Awareness: Lack of awareness about preventive measures, symptoms of dengue,
and the importance of seeking medical attention can increase the spread of the disease.

Now, after analyzing the past data of dengue fever in Bangladesh published by WHO, we find that
the loss frequency was on average 54,359 per year from 2018 to 2023, while the loss severity was
on average 180 per year from 2018 to 2023, which is pretty low compared to the loss frequency.
Therefore, we can say that, the loss frequency is high, while the loss severity is low. So, according
to the risk management matrix, the appropriate risk management technique would be Loss
Prevention.

To solve, the following preventive measures can be taken:

Eliminate breeding grounds: This includes regularly inspecting and emptying containers that can
collect and hold stagnant water, such as flower pots, buckets, and discarded tires. Proper waste
disposal and maintaining clean, dry environments help reduce mosquito breeding sites.
Use mosquito nets: Mosquito nets serve as a physical barrier, providing protection against
mosquito bites, especially during sleep. Using bed nets, particularly in areas where Aedes
mosquitoes are prevalent, can significantly reduce the risk of dengue infection.
Wear protective clothing: Wearing long-sleeved shirts, long pants, socks, and shoes can minimize
exposed skin and reduce the likelihood of mosquito bites. This is particularly important in regions
where Aedes mosquitoes are active, especially during peak mosquito activity times such as early
morning and late afternoon.
Public Awareness Campaigns: Public awareness campaigns educate communities about the
symptoms of dengue, the importance of seeking early medical attention, and effective preventive
measures.