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Framing Risk
  • Healthcare, Service, Transportation

Framing Risk

A new approach to risk management using the CORAL framework

Publication:
Quality Progress
Date:
July 2022
Issue:
Volume 55 Issue 7
Pages:
pp. 24-29
Author(s):
Fadely, Jonathan (Jon)
Organization(s):
Mercy Ships, Lindale, TX

Abstract

A risk champion isn’t solely responsible for managing risk—risk management is everyone’s business. A risk champion promotes probabilistic thinking—that is, an approach to making decisions that account for uncertainty. This way of thinking is easily scalable for everything from immediate operational tasks to corporate strategies. It begins with an active framework for identifying risks. The author presents a new approach to risk management—the CORAL framework, which considers context, objectives, resources, assumptions and limitations.

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