Reference no: EM133015185

The modern risk management information system for many organizations, is a high priority - a system that incorporates the central processing capability that quantifies all risks and applies a unified set of operations and processes for the company. You are employed at a major hospital in the Risk Department and have been tasked to identify the key elements for the creation of an updated risk management system.

1. In your own words identify the five risk management processes that will be key and explain the relevance in a hospital setting.

2. In your own words, provide an explanation of risk and the three common elements associated with any form of risk.

3. In the last 12-18 months, has the hospital environment and the staff been subject to greater amount of health risks? In your own words, identify two possible explanations for patients and two explanations for staff who may be exposed including any risk mitigation processes that you think would be beneficial.