Risk Management 5-Step Process

Choose one of the scenarios below and create a solution using the 5-step risk management process. Explain how you will communicate the solution throughout the organization.

Patients in a long-term care center are experiencing negligent care situations that include medication errors, dehydration, and wandering.
Employees in the lab of a local ambulatory care center are showing an increase in the number of needle stick injuries.
The fire inspector completed an annual life safety inspection of your hospital. Violations included out-of-service fire extinguishers and improper maintenance of the fire suppression system (fire sprinklers).

The five progressive steps of risk management include:

Risk Identification: Identify exposures.
Risk Analysis: Examine methods to address the risk.
Risk Control/Treatment: Select the best management techniques.
Risk Financing: Implement the selected techniques.
Risk Monitoring: Monitor to determine effectiveness.

Create a two- to three-page paper in APA Style, including a title page and a reference list. You must cite and reference at least two sources in your paper.
See the rubric for specific grading criteria.