Module 1.3B: Risk Management

Question 1

What is Risk Management?

Answer 1

a process of identifying and assessing the likelihood of potential threats and taking steps to prevent or mitigate their impact.

Question 2

What are Organizational Risks?

Answer 2

Organizational risks include anything that may interfere with the organization achieving present and future goals.

Threats to these, such as high turnover or computer failure, are organizational risks. Also, financial, environmental, and reputational risks.

Question 3

What is Employee Risk?

Answer 3

Refers to anything that may harm, injure, or otherwise endanger employees.

They include OSHA violations and work-related injuries, as well as harassment. Also, any behaviors that impinge upon the well-being of employees

Question 4

What are the 4 Risk Response Strategies?

Answer 4

1. Eliminate/avoid
2. Modify/reduce exposure
3. Transfer/share
4. Accept

Question 5

How to Eliminate Risk?

Answer 5

Eliminating risk may only take a small adjustment, such as ensuring employee personal protection equipment is available in multiple sizes.

Also, changing a process or not offering a proposed service.

Question 6

How to Mitigate Risk?

Answer 6

If a risk cannot be eliminated, its potential for harm or likelihood of occurring can be mitigated.

Takes the form of policy or procedure adjustments, such conducting enhanced employee training on safety procedures or equipment usage.

Question 7

How to Share Risk?

Answer 7

Risks may be shared or transferred to reduce organizational liability.

Ex) An organization may outsource high-risk tasks to a third-party vendor or purchase liability insurance.

Question 8

How to Accept Risk?

Answer 8

Organizations may decide that a risk is unavoidable and acceptable as part of the cost of doing business.

Ex) Small retail store - risk of loss through theft vs cost of loss prevention measures.

Question 9

What it Occupational Safety & Health Administration (OSHA)?

Answer 9

An agency of the US Department of Labor that establishes safety standards designed to prevent work-related injuries and other workplace health and safety incidents.

Question 10

What is the National Institute for Occupational Safety & Health (NIOSH)?

Answer 10

A federal agency that researches workplace safety.

NIOSH attempts to identify trends and patterns that can be used alongside the science of workplace safety to recognize emerging or shifting workplace safety risks.

Question 11

A call center purchases ergonomic keyboards for all computer stations to manage the risk of repetitive strain injury among employees.

Answer 11

Mitigate

Question 12

A construction company needs to transport employees to multiple job sites throughout the day. Rather than hire a dedicated driver, they choose to contract with a bus company.

Answer 12

Share

Question 13

The copy machine in a small office is set up across the room from the only available outlet, resulting in the cord running across the floor. The office manager relocates the copy machine to the opposite wall to manage the risk of a tripping hazard.

Answer 13

Eliminate

Question 14

What is a Risk Assessment?

Answer 14

A risk assessment is a specific form of needs assessment designed to determine for a given organization:

1. Applicable laws and regulations
2. Hazards or dangers employees may encounter
3. Root cause of workplace injuries
4. Accident and injury prevention options

Question 15

What are the 3 basic steps in a Risk Assessment?

Answer 15

1. Identification
2. Analysis
3. Evaluation

Question 16

What is Hazard Identification?

Answer 16

Organizations can detect hazards within the workplace through a safety self-inspection.

Inspection documents the identification of hazards and steps taken to resolve them

Question 17

What is Risk Analysis?

Answer 17

An accurate risk analysis considers a variety of data, including injury and accident investigation data, historical data, incidence rates, employee feedback, and stakeholder concerns.

Question 18

What is Evaluation?

Answer 18

Risk evaluation involves reviewing the data from the risk analysis to determine the consequence of the risk.

This is the stage where the most appropriate risk management strategy is determined, planned, and potentially implemented.

Question 19

What are the steps for Workplace Accidents?

Answer 19

1. Investigate
2. Interview
3. Document

Question 20

How to Investigate?

Answer 20

The investigation of workplace accidents begins at the scene.

Factors that may have contributed to the accident should be noted, such as the lighting, flooring, and time of occurrence, as well as anything that appears out of place.

Question 21

Who to Interview?

Answer 21

Ask for individual statements from any employees and witnesses to the incident.

It is important to gather these statements quickly and to prevent witnesses from discussing the incident with one another before making their statements, if possible.

Encourage each individual to simply explain what they saw or observed.

Question 22

What to Document?

Answer 22

OSHA and the organization’s insurance carrier require documentation of every incident.

Many organizations choose to also document occurrences with an internal incident report.

Question 23

What are Employee Benefits?

Answer 23

While employees may receive income from workers’ compensation or disability insurance, these are often limited in relation to the employee’s full compensation.

An employee may be eligible to receive their full compensation despite a reduced workload or accommodations.

Question 24

What are Employer Benefits?

Answer 24

Employee wage replacement for on-the-job injuries is paid through an organization’s insurance company.

Question 25

What is Physician Involvement?

Answer 25

Any return to work program must include input from a licensed physician who diagnoses and treats the employee.

HR and physician work together to determine any reasonable accommodations or necessary restrictions.

Question 26

What is a Return to Work Policy?

Answer 26

Policy establishes when ill or injured employees can return to work.

A return to work program that allows employees to return in limited capacity – structured to be transitional, and with the involvement of a licensed physician – can benefit the employer as well as the employee.

Question 27

What is OSHA reporting?

Answer 27

All employers are required by law to report serious work-related injuries and any on-the-job fatalities to OSHA.

Fatalities must be reported within 8 hours, while an employer has 24 hours to report loss of an eye, amputation, and any injury resulting in hospitalization.

OSHA analyzes the data submitted to identify trends and determine how to best allocate their resources for prevention as well as enforcement.

Question 28

What is an Injury & Illness Prevention Plan (IIPP)?

Answer 28

Created to reduce illness and injuries in the workplace - should be developed with involvement from leaders, managers, and employees and include workplace analysis, explicit hazard prevention and control procedures, and health and safety training requirements.

Question 29

What are the 4 compenents of a successful IIPP?

Answer 29

1. Involvement from leaders, managers, and employees
2. Analysis of the workplace
3. Explicit hazard prevention and control procedures
4. Health and safety training requirements

Question 30

What is Leader & Employee Involvement?

Answer 30

As shown with other organizational initiatives, for safety efforts to be effective, there must be commitment and support from executives and leadership.

An IIPP should outline authority and accountability.

Question 31

What is Workplace Analyses?

Answer 31

Regular analyses of the work site can be used to identify new hazards and track the progress of interventions used to reduce hazards.

Question 32

How to Prevent & Control Hazards?

Answer 32

Hazard prevention and control includes using specific tools and procedures to reduce and manage risk.

These include establishing a disciplinary action protocol, regular maintenance, outlining emergency procedures, ensuring access to personal protective equipment (PPE), and recordkeeping.

Common examples - safety glasses, hard hats, and earplugs.

Question 33

What is Training?

Answer 33

Managers and employees alike should receive regular training on workplace health and safety issues.

The IIPP should include the specific training requirements for employees and managers.

Question 34

What are user policies?

Answer 34

Every organization needs to establish a policy regarding the use of the Internet, email, and social media on work equipment.

Another approach is to establish a policy that informs employees they have little to no expectation of privacy at work and all work equipment may be monitored.

Question 35

What is Structural Defense?

Answer 35

In addition to user policies, organizations can protect themselves from cyber risks through structural defense options.

Sensitive data, such as customer personal and financial information, does not need to be available to all employees.

Question 36

What are the 7 tips to deal with ambiguity from Gordon Tregold?

Answer 36

1. Honest communication – Be straightforward about what you know, what you don’t know, and what you will learn.
2. Share any plans for resolution – Once a plan to move forward is established, share it with everyone in the organization.
3. Seek out input and feedback – Employees at all levels can be part of the solution after something goes awry. Gathering input engages employees and will likely provide new perspectives to consider.
4. Be willing to adapt – The only constant is change. Flexibility and adaptability are necessary.
5. Maintain a positive outlook – Employees look to organizational leaders for stability in times of uncertainty. Remaining positive helps to maintain morale.
6. Celebrate small wins – It may be a long time between big goals and successes. Acknowledging and celebrating smaller triumphs can keep employees motivated and engaged.
7. Remain engaged and visible – If organizational leaders disappear in times of uncertainty, it can cause a significant decrease in morale. Leaders need to lead, especially amidst ambiguity.

Question 37

The likelihood that an organization will be exposed to a hazard is a:

Answer 37

Risk

Question 38

An employee takes off his hard hard at lunch because it was too hot. A piece of debris lands on his heard, necessitating medical treatment. This is an example of:

Answer 38

An unsafe act