Discussion: Apply the risk management principle to minimize or extract danger

24/7 Homework Help

Stuck on a homework question? Our verified tutors can answer all questions, from basic math to advanced rocket science!

Discussion: Apply the risk management principle to minimize or extract danger

Discussion: Apply the risk management principle to minimize or extract danger


1) In this week discussion, I want to share an event that happens last month in the Philadelphia port and caught my attention, and we can apply the risk management principle to minimize or extract that danger.

On the 19th of June, officials seized more than 16 tons of cocaine worth $1 billion at a South Philadelphia port. Shipping containers full of illegal drugs have been found and seized by federal authorities at a Philadelphia port in what federal authorities describe as the largest seizure in the region’s history. U.S. Attorney William McSwain said the ship contained enough cocaine to “kill millions of people.”Members of the ship’s crew have been arrested and charged with federal drug trafficking charges.
Drug trafficking problems are an excellent example of using risk management. Risk control is essential in any association or organization, and this means the creation of strategies that help in the reduction of the likelihood of risk occurrence.The 4T strategy is vital tool or approach in minimizing the risk of these illegal drugs to be spread as it enables the assessment of the strategies that are available to the organization in the reduction of risk (Hopkin, 2017). There is a focus on the methods that are solid in enhancing the management of the risks and the mitigation factors that assists in propelling the organization towards the means of risk control.

The 4T’s ensure that there is a focus on the growth measures, and this involves focusing on the certainty that the risks control methods function towards the protection of the interests of the company. The U.S. Attorney and the border control can use the 4Ts represented in Transferring, Tolerating, Treating, and Terminating to manage and minimize the risks associated with drug dealings.

References :15,500 Kilos of Cocaine, Worth $1 Billion Officials Say, Seized at Philadelphia Port https://www.nbcphiladelphia.com/news/local/Massive…

Hopkins, P. (2017). Fundamentals of Risk Management: Understanding, Evaluating, and Implementing effective risk management. 4th Edition. London, England: Koran Page Limited

2) The story of a medical error at Dorn VA Medical Center in South Carolina. In early 2017, the patient reportedly went to Dorn VA Medical Center in South Carolina with nausea and vomiting. He was administered doses of pegfilgrastim but should have received filgrastim. While both medications are administered by syringe and intended to stimulate white blood cell growth, the prescribed filgrastim can be taken daily. Following 11 days at the hospital and multiple doses of pegfilgrastim, the patient died after developing pulmonary toxicity leading to severe acute lung injury.

Effective risk management involves a five-step process, Identification of the risk, risk analysis and investigation, selection of the best risk management strategy, and implementation of the chosen. To address medication error risk, it must first be identified. Review of incident reports is probably the most common method of identifying medication errors used by nurse leaders.

Cureatr, 6 Medication Error Stories That Made Headlines, https://blog.cureatr.com/6-medication-error-storie

Grena Porto, kN., M.s., ARM., C.PH.R.M., Principal, Healthcare Consulting, LLC Hockessin, Delaware, and member of The Joint Commission Patient Safety Advisory Group. com/assets/1/7/SS13.pdf” target=”_blank” rel=”noreferrer noopener”>https://www.jcrinc.com/assets/1/7/SS13.pdf

Answer preview to apply the risk management principle to minimize or extract danger

Apply the risk management principle to minimize or extract danger

Hire a competent writer to help you with

Discussion: Apply the risk management principle to minimize or extract danger

troublesome homework