The Australian/New Zealand Standard on Risk Management AS/NZS 4360:2004 outlines a stepwise approach to risk management that allows continuous quality improvement

The Australian/New Zealand Standard on Risk Management AS/NZS 4360:2004 outlines a stepwise approach to risk management that allows continuous quality improvement. What are those steps in order?

avoiding risk - establishing whether there is a risk and whether potential risk can be averted (e.g. by questioning whether a procedure is necessary)

establishing context - identifying the basic parameters in which risk must be managed (e.g. the type of facility, the extent of and support for the facility's infection control program)

identifying risks - a systematic and comprehensive process that ensures that no potential risk is excluded from further analysis and treatment (e.g. using root cause analysis)

treating risks - selecting and implementing appropriate management options for dealing with identified risk (e.g. modifying procedures, protocols, or work practices; providing education; and monitoring compliance with infection control procedures)

analysing risks - considering the sources of risk, their consequences, the likelihood that those consequences may occur, and factors that affect consequences and likelihood (e.g. existing controls) (see risk analysis matrix below)

evaluating risks - comparing the level of risk found during the analysis process with previously established risk criteria, resulting in a prioritised list of risks for further action