Possible Goals If we were to consider possible fi nancial goals, we might come up with some ideas like the following: • Survive in business. • Avoid fi nancial distress….
Explain the purpose and key elements of current risk management standards
Paper involves 11 questions with short answer responses only. Answers need to be generated based on a medical practice as being the organisation of topic.
a. Explain the process of risk management.
Review and explain processes and procedures for risk management within a medical practice giving an example of any workplace procedure.
b. Explain the purpose and key elements of current risk management standards, AS/NZS ISO 31000:2009.
List down the information that you will need to analyse in order to develop the scope and context for the risk management process for a medical practice.
b. Do the SWOT AND PEST Analysis of a medical practice in relation to risk management
PEST Analysis: Mention the risk related to each applicable in a medical practice.
Name at least three (3) internal and external stakeholders and identify their issues or concerns regarding the ‘risks’ within a medical practice.
Briefly describe how you will communicate with relevant parties (stakeholders) about the risk management process within your area of responsibility and how would you obtain support/consultation for risk management activities from these stakeholders.
Why is it important to invite relevant stakeholders and seek their participation in the risk management process?
The very critical part of risk management is to research the risks that may apply to your scope.
List all the information sources that you may get from your internal and external research that will assist in risks identification process
Identify three (3) tools, techniques or other information you used to generate a list of risks that apply to your scope, in consultation with relevant parties.
Identify at least 3 risks/hazards within a medical practice , analyse those risks and using the below matrix, determine their potential impact and likelihood from the scope of risk management.
a. Use the following table for your response:
Identified risk Likelihood Impact/ Consequence
b. Using the above risk matrix level, identify the risk rating for each and prioritise them on the basis of their rating.
Identified risk Risk rating as E, L, M or H Priority as 1,2,3
Complete a table of risks for selecting the appropriate treatment for above three identified risk. On this table, determine at least 2 treatment options for each risk and then select the most appropriate option for treating each of the risks.
Risks Options Most appropriate
To successfully implement the above treatment plan for each identified risk, you must develop an action plan.
Develop an action plan to implement each the required treatment for the identified risk based on their priority rating. You can choose the below provided action plan in order to respond this answer.
Action Item Responsible person Resources required Expected outcomes Timeframe needed Monitoring measures
All staff to get training on new WHS regulations
Office manager $500 Aud
Room to conduct training All staff will be made aware of the new requirements of WHS laws in relation to their personal and organisation operations End of this moth/date Reduction in workplace WHS issues
b. How would you communicate the risk management action plan to the relevant stakeholders within your organisation?
a. How you will ensure that all the documents related to risk management processes are in order and appropriately stored
b. How would you monitor your action plan for implementing risk treatment?
c. Describe the measure of success that you would look in order to evaluate your risk management process.