Certified Healthcare Technology Specialist (CHTS) Process Workflow & Information Management Redesign Practice Exam

True or False: A risk must always be mitigated at any cost.

1. True

2. False

3. Only for high risks

4. Depends on the situation

The correct answer is: False

Mitigating a risk at any cost is not a practical or sustainable approach, as it can lead to the diversion of resources away from other critical areas, potentially causing more harm than good. In risk management, the focus is often on evaluating the potential impact and likelihood of a risk materializing and determining a reasonable and effective response that aligns with the organization's overall goals and resources. Instead of always mitigating a risk regardless of the consequences, organizations must weigh the costs and benefits associated with risk mitigation strategies. Sometimes, it may be more strategic to accept certain risks if their impact is manageable or their likelihood is low. This approach allows for informed decision-making, where resources can be allocated to more significant risks or opportunities that align with the organization's objectives. In summary, risks should be assessed on a case-by-case basis, allowing for nuanced decision-making rather than a blanket rule that might not serve the organization's best interests.