Question

Healthcare data:

Searching scholarly sources and published risk mitigation plans, summarize best practices and examples for a risk mitigation plan.Include a minimum of five best practices and or key components. Include a description, summary of the intent and why it should be included in the risk mitigation plan.

Answer 1

Risk mitigation is a systematic reduction in the extent of exposure to a risk factor . The five components of risk mitigation are :-

- identify the risk = it include identification of events where risk is present .

- perform a risk assessment = find the quantitative risk of each event by weighting it's potential impact.

- prioritize the risk = when the risk assessment is complete , rank the potential risk from severe to least.

- track the risk = if a risk can be followed then keep the track of it and the threats it causes. Example track the bad /severe wheather condition to avoid it's consequences.

- implement and monitor progress = once mitigation plan is ready , monitor how it's working and perform tests to ensure the palm is up to date . If risk priorities change ,make sure your plan reflects that . All these components are the vital base of the mitigation plan . It provides a well structured cycle to reduce the exposure to risk .Advantages of these components in risk mitigation are :-

Saves life

Reduce property damage

Reduce community interruption

Critical facilities protected