Risk Management Plan
Summary Video Link provided by Professor:https://youtu.be/6EWfQgAjUFo
Topic of Focus; Risk management plan for using energy medicine in elderly patients during waiting times for knee replacement surgery
8-10 References
Citation should be in this format (author, year, p. Or para.no.)
The report should be submitted using a professional format rather than an academic format. Word templates can be utilized. APA format for referencing and citations is required.
Each section will be roughly 4 Single spaced pages in length plus references. The length will vary by section and depends on the professional formatting choices. Please ensure contents of the section are thorough and follow the directions provided (see videos related to each section).
Each section must have its own citations and references. Each section must have at least one reference. Some sections will have more references than others due to the required elements of each. Please consult the section videos and your Professor for further guidance.
The combined report must include a Title Page, Table of Contents and Executive Summary for the full report.
Solution
Executive Summary
This paper has discussed the risk associated with the use of energy medicine to reduce pain experienced by elderly patients during a knee replacement surgery wait time. Throughout the paper, ERM (Enterprise Risk Management) framework has been used to identify, assess, determine a mitigation strategy and monitor the process. The paper has identified that the main risk is a decreased blood pressure. The likelihood of decreased blood pressure is high among elderly patients due to age and the impacts of energy treatment. When saying energy medicine, the paper specifically focuses on the use of pulsed electromagnetic field (PEMF), an energy therapy for pain. The report has also considered the severity of this risk. It has indicated that studies have indicated that elderly patients and those with cardiovascular diseases have a high tendency of getting low blood pressure when they use PEMF treatment as a remedy for pain during knee replacement wait time. In addition the paper has discussed two strategies that can be used to mitigate the risk. They include patient’s education and physical exercise class. However, these mitigation strategies would be exposed to failure if not monitored. Therefore, the paper has discussed a monitoring plan. The plan discussed is a monthly evaluation of blood pressure among elderly patients waiting for the knee replacement surgery.
Risk Management Plan
Risk management is a proactive approach to identifying and analyzing possible hazards. It takes into account the severity and likelihood of every risk. It also specifies risk mitigation techniques and how the risk will be tracked. Therefore, risk management is the process and practice of identifying, analyzing, and designing methods for risk management (Lundqvist, 2014, p. 394). Risk management plans and key business assessments are critical components of a company’s strategy in this expanding market. Each firm or organization must be conscious of the risks that may exist inside the organization to better prepare for an inevitable problem and to identify solutions to mitigate the impact of such an issue. Several forms of risks change from one firm to the next.. Please click on the Icon below to purchase the full answer at only $10
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