Elements of a Risk Management Program
HLT 308V All Weeks Assignment Paper
HLT 308V All Weeks Assignment Paper
HLT308V
Week 1 – Elements of a Risk Management Program
Details:
In 1,000-1,250 word paper, conduct a review of the risk management program for new employees in a health organization. Include the following:
- Explain the steps for presenting a risk management program to new employees.
- Evaluate the presentation for compliance with the American Society of Healthcare Risk Management (ASHRM).
- Propose recommendations for inclusion in the program or changes that you would make to further improve the program or meet compliance.
- Examine the administrative process of management the risk program.
- Support your analysis with three peer-reviewed references, which may include your textbook.
Prepare this assignment according to the APA guidelines found in the APA Style Guide, located in the Student Success Center. An abstract is not required.
This assignment uses a grading rubric. Instructors will be using the rubric to grade the assignment; therefore, students should review the rubric prior to beginning the assignment to become familiar with the assignment criteria and expectations for successful completion of the assignment.
You are required to submit this assignment to Turnitin. Refer to the directions in the Student Success Center. Only Word documents can be submitted to Turnitin.
MORE INFO
Elements of a Risk Management Program
Introduction
A risk management program is a systematic approach to identifying and controlling risks in your organization. A well-designed risk management program will help you:
A Risk Management Program
A risk management program is a series of steps that you and your team take to ensure that your organization is prepared for potential risks and hazards. It will help you identify what needs to be done, who should do it, and when it should be done.
A risk management program should include:
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A list of all known risks and hazards facing the organization (including external ones) along with their likelihoods;
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Procedures for handling known risks or hazards as well as new ones that may arise in the future;
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Methods for evaluating existing policies and procedures against these criteria so that improvements can be made where necessary;
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An overall plan for managing risks throughout all areas within an organization’s operations—including engineering design and construction projects—to ensure compliance with applicable laws (such as OSHA), regulations (such as ANSI/ANSI B 30), guidelines from governing bodies such as ISO 9000 etc).
I. Preliminary Steps
Risk management is a critical component of any business. It’s important because it helps you identify and address risks, which can help keep your company from losing money or suffering serious damage. The goal of risk management is to ensure that the activities you pursue are safe and productive, while also ensuring that they don’t put your company at risk for financial losses.
A risk management program differs from other types of programs in some key ways:
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It’s not just about avoiding accidents—it’s about identifying them early so that they can be prevented before they happen
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It includes steps for addressing those potential problems when they arise (e.g., by changing procedures)
II. Identify Hazards and Assess Risks
The second step in risk management is to identify hazards and assess risks. This can be done by identifying any potential problems that might occur, such as fires or floods. Then, you must determine how likely these events are to occur and how much damage they could cause if they did occur.
Once you’ve assessed the potential for each type of hazard, you need to figure out how many people are likely to be affected by each hazard and what their reactions will be (e.g., evacuate). You also need to consider whether there are other ways we can reduce our exposure (e.g., replace flammable materials with nonflammable ones). Finally, we need some way of managing residual risks after we’ve reduced them—in other words: Do I still have a problem?
III. Develop Hazard Control Plans
Hazard control plans are written documents that describe the steps you will take to control a specific hazard. They should be based on the risk assessment and the risk management program.
The following are some of the elements of a hazard control plan:
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Identify hazards, including those that may not be visible or have not been identified by others (e.g., chemicals in manufacturing processes).
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Evaluate risks associated with each identified hazard for both people and property losses; include evaluation criteria such as probability of occurrence, severity if an accident occurs, frequency/duration etc., which may be used as guidelines when determining how much protection is needed before implementing an intervention strategy (e.g., installation of spill containment equipment).
IV. Implement Programs
Implementing a risk management program is key to success. While implementing a program requires time and resources, it also requires commitment from all involved parties. The goal of any risk management program is to mitigate the impact of risks on your business, so it’s important that you monitor how it’s being implemented as well as measure its effectiveness over time (e.g., by evaluating data).
To help ensure that your organization implements effective risk management practices:
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Ensure everyone in the organization understands their role in implementing the policy;
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Assign responsibility for each component of the policy;
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Identify who within the organization has knowledge about specific areas of concern related to potential risks; and * Create checklists for tracking progress toward meeting established goals or objectives
V. Evaluate Results & Repeat
Once the process is complete and you have a written hazard control plan, it’s time to evaluate your results. The next step is to evaluate the effectiveness of your hazard control plan by examining its provisions for:
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Designing and implementing procedures that reduce risks
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Reviewing records related to work practices and equipment used onsite
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Testing procedures before they are implemented
Takeaway:
In the end, this is a good program. It’s not perfect and it could use some improvement, but overall it’s solid and worth your time to read through.
If you’re looking for more structure in your risk management program or want some examples of how other programs work (for example: what happens if someone doesn’t follow these steps), then this article should be helpful!
Conclusion
According to the National Fire Protection Association, risk management is a process that involves identifying hazards and assessing potential risks, developing plans for reducing or eliminating them, and implementing those plans. It’s important to remember that if you don’t take action now, it will be too late when disaster strikes: your organization could be at risk of significant financial loss or even property damage.
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