Fall and injury prevention continues to be an extensive challenge across the care field. To prevent the incidence of falls as above and to decrease the risk of nursing liabilities is by applying risk management for falls. Risk management is the continuing process to identify, analyze, evaluate and treat loss exposures and monitor risk control and financial resources to mitigate the adverse effects of loss (Marquette University Portal, 2016).First, good communication among clinical staffs and the patient is importance.
Creating corrective processes which strategically confront the risks which have been identified and quantified is defined as a risk response strategy. Strategic options are developed, actions are determined, and opportunities are capitalized upon, when the risk response strategy is created. Risk tolerance is the basis for the risk response strategy. Risks which have a high severity have the greatest impact on cost and the schedule of an organization. Once the risk analysis and evaluation process has been finalized, the appropriate actions are taken to achieve the project objective.
Mitigation is the most commonly considered risk management strategy. In this step, all risks that have been considered unacceptable are mitigated. However, the goal of this step is to come up with risk mitigation strategies that are not only going to reduce the risk but that are also going to be cost-effective. Mitigation Strategies Risk mitigation options can include: • avoiding risks; • Reducing the risks by applying appropriate controls; • knowingly and objectively accepting risks; and • transferring or sharing the risks to other parties, e.g., insurers or suppliers. Factors to consider for reducing (mitigating) the risks (Berg, 2010): • Can the likelihood of the risk occurring be reduced?
Therefore, the goal of risk management was defined as the process of increasing the impact and probability of positive risks and decreasing them for negative risks. It’s not about avoiding failure only, but to exploit opportunities. Risk management is an indispensable process to the improvement and success of any business. The importance of risk management becomes even greater in an industry that includes many uncertainties, such as construction industry. When it comes to the construction industry, the possibility of exposing more risks is increased, especially when to carry out the
Safety is a condition characterized by minimal risk of harm coupled with protection from potential harm. In health care, patient safety involves instituting mitigation measures to prevent potential adverse events. Unfortunately, the existence of potential adverse events is only recognized after such an event has occurred. Reporting an adverse event, therefore, is the first step towards developing mitigation measures. However, some nurses fear reporting adverse events, because they erroneously believe they will be penalized for the occurrence of such an event.
It ensures that there is enhanced coordination and transparency with functional units, which facilitates early identification of critical risks. Risk management should not be regarded as non-essential cost to be cut in the difficult times. Instead, organizations should use the insights offered by the risk process to ensure that they can handle the inevitable circumstances & uncertainties and emerge with a best possible solution in the
This can be identify as the controlling procedure of risks. “Risk management is a process comprising the following main steps: risk management planning, risk identification, risk assessment, risk analysis, risk response, risk monitoring and risk communication” (Baloi and Price 2003) By using risk managementtechniques in a productive way will be given potential benefits. Thosecan be shown in Figure 7 below. Figure 6 Benefits of Risk Management Source:(Burtonshaw-Gunn 2009) (Monir and Sayegh 2008)also define; “risk is an uncertain event or condition that, if it occurs, has a positive or negative effect on at least one project objective, such as time, cost, scope, or quality”. FACTS IMPACT ON PROJECT RISKS Figure 7 Facts Impact on Project Risks Source:(Burtonshaw-Gunn 2009) In this pre planning stage risk should identify properly and need to prepare a proper risk assessment plan.
1.0 Introduction Sport risk management is an importance thing to focus in organization especially sport organizations to practice in organization. Risk management comes early years 1970 (Aman, 2006) and nowadays risk management practices is increases and take serious in risk management practices. Sekendiz, Laroche and Corbelt (2011), sport today changes from recreation to professional activities including sport industry, athletes and professional coach or officer. Everyone participate in sport industry including athletes, coaches, managers, sport officers, organizer and all manufactures sport equipment exposes to risk. Purposes sport risk management to minimize and reduces accident in sport (Ang 2007, Wong and Chen 2010 and Rejda 2011).
Proper contingency plans should be made in case of risk occurrence, to reduce their consequences. The ‘high probability/high impact’ risks like financial and operational are those with the most critical consequences and should be addressed on a high priority basis. The consequences will even include the project to fail or be terminated. Proper risk response and strategies should be planned and organized immediately in these situations. RISK RESPONSE Risk response indicates the strategies (avoidance, mitigation, transfer, and acceptance) taken depending on the kind of identified risks for the Atlantis project and actions includes Entering into forwarding contracts, borrowing or depositing funds in foreign currency in order to hedge against significant transactional foreign currency exposure and maintaining good relationships with the incumbent government.