Examining Alternative Risk Management Treatments

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Examining Alternative Risk Management Treatments

Root cause analysis (RCA) is a process for identifying factors that cause risks. It focuses primarily on systems and processes, not on individual performance. The process progresses from identifying causes to identifying potential strategies that could possibly be implemented to improve the system or activity (cause and effect). In other words, after determining what caused the risk in the first place, the next step is to determine what can be done to stop the risk from happening in the future. This is referred to as loss prevention. Some examples of risk control treatments in loss prevention might include:
  • Staff education
  • Procedure revisions
  • Policy review