Professional Practice Module 3 - Ethics and Decision Making Flashcards
How do you make ethical decisions?
Choose among different ways to deal with problems confronting your organization and use evidence-based research.
What does the risk management process enable? What questions does it address?
The risk management process enables the organization to know and understand the risks they are exposed to.
The process address the questions of “what can go wrong?” and “what can be done to prevent or respond to the risk?”
What are the steps of the risk management process?
- Identify the Risks
- Assess the Risks
- Develop Strategies
- Implement Strategies and Communicate
- Monitor the Results
What does the step “Identify the Risks” involve? What is the difference between a general and specific risk?
This step involves identifying the risks organizational activities pose and determining “what can go wrong?”
A general risk could happen to any organization whereas a specific risk it specific to the organization.
What are some risk categories?
Abuse, Personal Injury, Medical, Environmental, Property, Financial, Reputation, Good Practice
How are risks assessed? What is a risk map?
Risks are assessed based on the likelihood of their occurrence as well as the severity of the consequences.
A risk map plots the likelihood and severity of risks to help prioritize them.
What are the risk management strategies?
Avoidance, Acceptance, Modification, and Transfer/Sharing
What is the avoidance risk management strategy?
The organization stops doing the activity causing the risk.
What is the acceptance risk management strategy?
An organization accepts the risks involved with the activity.
What is the modification risk management strategy?
The activity is changed to reduce the likelihood and/or severity of the risk.
What is the transfer/sharing risk management strategy?
The risk is transferred to another organization through a contractual agreement.
What is a RACI Chart?
A diagram that identifies key roles and responsibilities. Who will be Responsible, Accountable, Consulted, and Informed.
What are some of the things monitored in the monitoring step of the risk management process?
Is the plan working? Are changes required? Are people following the plan? Does anyone need additional training? Does the plan need to be communicated better?
