PHA Risk Management Training

What is risk management?

• Looking both ways before crossing a 2 lane highway.

• Auto Insurance

• The forecasting and evaluation of risks together with the identification of procedures to avoid or minimize their impact.

• The ability to plan for the future.

In a healthcare organization, what is the primary goal of risk management?

• To eliminate all risks completely.

• To transfer all risks to insurance companies.

• To reduce or mitigate risks to an acceptable level.

• To shift risks to patients and their families.

Which of the following is an example of a clinical risk in healthcare?

• Equipment malfunction in the hospital kitchen.

• Slip and fall accidents in the hospital parking lot.

• Inadequate hand hygiene practices lead to infections.

• Changes in government healthcare policies.

A means of recording information about risk and tracking actions

• Business Impact Analysis

• Fault tree Analysis

• Risk Register

What is SWOT stand for?

• Strength, Work, Opportunity, Trend

• Strength, Weakness, Observation, Training

• Strength, Work, Opportunity, Threat

• Strength, Weakness, Opportunity, Threat

How to calculate overall risk rating?

• Possibility x Effect

• Likelihood x Severity

• Occurrence x Consequence

• Likelihood x Response

Which of the following is a response category to a threat?

• Accept

• Reduce

• Avoid

• All of these

What is the goal of risk management in relation to initial risk and residual risk?

• To completely eliminate both initial risk and residual risk.

• To transfer initial risk to external stakeholders and manage residual risk internally.

• To reduce initial risk and eliminate residual risk.

• To minimize initial risk through external controls and manage residual risk to an acceptable level.

What stage of the risk management process does initial risk assessment occur?

• Before identifying risks

• After risk mitigation strategies are implemented

• Concurrently with risk monitoring and control

• At the conclusion of risk management efforts

Which of the following best describes residual risk?

• The risk that arises after risk management measures have been implemented.

• The risk that is transferred to external stakeholders.

• The risk that is completely eliminated through risk management efforts.

• The risk that is initially identified during risk assessment.