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UOPX HCS 451 - Why is risk management important in organizations?

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Why is risk management important in organizations? What benefits are gained by implementing a risk management program? Describe challanges you see in obtaining buy-in and support from staff? What are the barriers in implementing a risk management program? What would you recommend to help overcome these barriers?Risk management is the way that an organization identifies, manages, mitigates and respond to risk. Risk Management is an asset to any organization because of the potential devastating efforts that disasters can have on an organization. If an organization is not properly prepared, or equipped, to manage a risk there can be negative impacts to patients as well as their health records. Patents who visit outpatient medical clinics, or stay overnightat the hospital, can be exposed to risks. When organizations have risk management protocols in place the better theycan serve their patients.The benefits that are gained by implementing a risk management program are: supporting strategic and business planning, supporting effective use of resources, promoting continuous improvement, quick grasp of new opportunities and reassuring stake holders. The barriers of risk management are lack of clear and consistent riskmanagement champion, unclear or non-existent decision rights, and employees wanting to do things their way. Overcoming these barriers are to have training for all employees so they know hat to do and how the company expects them to do it. Make sure all employees have a clear understanding of what is going on in the organization maybe post up some brochures or flyers going over FAQ in the organization. This will let the employees be able to read and understand and if they have further questions they can always go to someone in charge and ask.Response 2Risk management is the identification, assessment, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability and /or impact of an unfortunate event or to extend the realization of opportunities. Risk management is important within organizations due to unforeseen liabilities. Whether it is legal, credit related, natural disasters, there needs to be a plan in place. The benefits of having a risk management is showing the preparedness of the organization in the event of a liability. The only barriers I see when implementing the risk management program is the employees who may not follow the regulations entirely. I believe there should be safety meetings or weekly risk management clarification meetings to go over all the policies and procedures related to risk management. I know we have safety meetings once a month to ensure the safety of our co-workers, facilities and guests who are on our

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