BUS 519 Project Risk Management PROJECT PROGRESS
BUS 519 Project Risk Management
Note: The assignments in this course are a series of papers that are based on the same case, which is located in the XanEdu tab in the left-hand menu of your course. The assignments depend on one another. During the project life cycle, project risk reviews and reports are required, as previously identified in the risk management plan. Two months after the project started, the following events have taken place:
The top two threats have occurred.
The top opportunity has been realized.
The project’s risk budget is already exhausted.
The risk management schedule has been shortened by two months.
Write a 4–6 page paper in which you:
Analyze the impact of the events on the project.
Determine if any mitigation activities are required, and explain why.
Determine if budget or schedule changes are necessary, and explain why.
Update the risk register and highlight the changes made. Provide the justification for the changes.
Use at least four quality resources in this assignment. Note: Wikipedia and similar websites do not qualify as quality resources.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Assess the impact of events on the project’s progress in order to determine an appropriate risk response plan.
Risk Management Program Analysis – Part One
Risk management is a process that ought to be undertaken in every organization. Risk management is important in ensuring effective outcomes in organizational processes. Risk management processes are important in the healthcare system. The whole process ensures that there are effective treatment processes in the general care. For every healthcare organization, it is the responsibility of the management to ensure that there is an effective risk management plan, which is a document signed and approved by the risk management team, which often foresees that all the possible risks are handled effectively (Fitzpatrick, 2018). Some of the risks in the healthcare system include errors from nurses and other healthcare professionals, ineffective utilization of healthcare resources, medication errors, and lack of effective machines in ensuring effective healthcare delivery. The management of employees is a critical aspect of the healthcare system. However, controlling the recruitment processes is critical in ensuring reduction in the risks associated with the new employees. The risk management plan selected involves the integration of new employees in the healthcare facility. In most cases, new employees require close supervision as well as mentorship in order to ensure the reduction in the errors while undertaking different healthcare activities.
Normally, due to the requirement of high levels of accuracy in the healthcare processes, the involvement of the new recruits in the treatment area is often considered to be of high risk. As a result, the newly recruited employees often require close supervision and mentorship in order to ensure the reduction of errors in the treatment processes. A risk management plan is therefore required to ensure that there is effective management of errors or risks associated with the new recruits (Kiernan, 2018). The management of risk will ensure the delivery of quality healthcare services to the patients. Also, the presence of risk management will ensure that there is effective management of the workforce to ensure effective patient outcomes. The rationale behind the selection of the risk associated with the management of new employees lies on the gap that exists in theory. The risk management plan applies to facilities such as the Coney Island Hospital. In Coney Island Hospital, the risk management plan that involves training and mentoring new employees is often undertaken by the risk management department. The department is usually involved in the development of plans and strategies that can be followed to successfully accomplish the processes geared towards elimination of errors associated with the healthcare problems.
The risks associated with the recruitment of new employees are often experienced by different healthcare institutions. Sometimes, new recruits require effective training processes to be able to gain experience to be applied in the treatment processes. Coney Island Hospital has elaborate training and mentorship programs to be able to eliminate the risks associated with the new recruits. The development of the risk management plans often involves the consideration of different factors such as the area of specialization and the skills and the level of knowledge of the new recruits (Shane, 2019). Also, new employees need to be trained on the technological approaches to be applied in the healthcare processes. In most cases, there are technological risks that are often experienced in the healthcare settings. The risk management plan usually play significant roles in ensuring that measures are put in place on how healthcare facilities can be able to prevent different types of risks from happening.
Standard Administrative Steps for Risk Management
Developing measures to prevent risk is important for different healthcare facilities. In Coney Island Hospital, the management has come up with measures to ensure that all the possible risks associated with the recruitment of new employees are identified and managed before they create complexities in the processes of healthcare delivery. Some of the standard administrative steps in the risk management include:
- Risk Identification: this is the first step in the risk management. Under this phase, the risk entails the involvement of new employees in the work processes. Through the analysis of different problems associated with the involvement of new employees in the healthcare processes, different problems have been encountered. As a result, risk management concerning new employee recruitment is critical in ensuring effective patient outcomes.
- Risk assessment is another step that is involved in the risk management within healthcare institutions. Assessments often involve the evaluation of a risk and the impact it may bring to the healthcare organization
- Risk mitigation is the third step involved in the risk management process. These include the procedures and steps that are undertaken within a healthcare facility to ensure that all the possible risks are identified and solved before they impact operational processes.
- Risk contingency planning involves developing plans and all the steps that ought to be followed in offering solutions to the identified risks in healthcare facilities. Risk contingency planning often involves the strategies and tools that are applied to help in the elimination of the risk associated with the recruitment of new employees.
- Risk tracking and reporting is the final step in the risk management. This step involves the documentation of what was offered so as to provide solution to specific risks with the objective of applying the information in case such risk occur.
Analysis of the Key Agencies
One of the key agencies involved in the regulation of the administration of safe healthcare in my area of concentration is the Centers for Medicare and Medicaid (CMS). The above agency is involved in setting the standards and regulations to ensure that quality healthcare delivery is met. The body is often expected to regulate the healthcare delivery processes including the efficiency in the operational processes for the healthcare staff. Elimination of the risks is one of the main objective of Centers for Medicare and Medicaid. Centers for Medicare and Medicaid is involved in the management of risk associated with the new employees as well as the financial activities of the healthcare system. Another agency that is involved in the regulation of the healthcare processes is the Health and Human Services Department, which is involved in ensuring that there is effective delivery of healthcare processes. The agency is involved in ensuring that there is effective training of healthcare professionals for effective healthcare outcomes. The Health and Human Services Department often manages the risks associated with the new employees and other processes in the healthcare system.
Continuous Training and Mentorship Activities
The management of the risk associated with the new employees involves continuous training processes and mentorship programs in healthcare facilities. Training is important in ensuring that employees understand work processes and the procedures required in delivering effective treatment and medication processes. The training processes are in line with the MIPPA approved standards. Thus, training processes should always be provided to the newly recruited employees to make sure that they become aware of the organizational processes that are important in the delivery of quality care. The graduates often need to be trained before being integrated into the actual work processes. During the process of training, there is always a need to ensure that new employees apply the skills and knowledge needed to create positive impacts in the healthcare undertakings.
Training and mentorship programs have enabled many organizations to ensure effective delivery of healthcare processes for effective patient outcomes. New recruits may not understand the procedures of work, therefore, it is necessary for healthcare organizations to consider developing training programs to enhance the management of risks that can lead to increased errors in the operational processes. The management of risk will ensure the delivery of quality healthcare services to the patients. Also, with the risk management will ensure that there is effective management of workforce to ensure effective patient outcomes.
Fitzpatrick, J. J. (2018). Technology: To care, to discover. Applied Nursing Research, 42, 111. doi:10.1016/j.apnr.2018.06.012
Kiernan, L. C. (2018). Evaluating competence and confidence using simulation technology. Nursing, 48(10), 45-52. doi:10.1097/01.nurse.0000545022.36908.f3
Shane, R. (2019). Risk evaluation and mitigation strategies: Impact on patients, health care providers, and health systems. American Journal of Health-System Pharmacy, 66(24_Supplement_7), S6-S12. doi:10.2146/ajhp090461
ADDITIONAL INSTRUCTIONS FOR THE CLASS
Discussion Questions (DQ)
Initial responses to the DQ should address all components of the questions asked, include a minimum of one scholarly source, and be at least 250 words.
Successful responses are substantive (i.e., add something new to the discussion, engage others in the discussion, well-developed idea) and include at least one scholarly source.
One or two sentence responses, simple statements of agreement or “good post,” and responses that are off-topic will not count as substantive. Substantive responses should be at least 150 words.
I encourage you to incorporate the readings from the week (as applicable) into your responses.
Your initial responses to the mandatory DQ do not count toward participation and are graded separately.
In addition to the DQ responses, you must post at least one reply to peers (or me) on three separate days, for a total of three replies.
Participation posts do not require a scholarly source/citation (unless you cite someone else’s work).
Part of your weekly participation includes viewing the weekly announcement and attesting to watching it in the comments. These announcements are made to ensure you understand everything that is due during the week.
APA Format and Writing Quality
Familiarize yourself with APA format and practice using it correctly. It is used for most writing assignments for your degree. Visit the Writing Center in the Student Success Center, under the Resources tab in LoudCloud for APA paper templates, citation examples, tips, etc. Points will be deducted for poor use of APA format or absence of APA format (if required).
Cite all sources of information! When in doubt, cite the source. Paraphrasing also requires a citation.
I highly recommend using the APA Publication Manual, 6th edition.
Use of Direct Quotes
I discourage overutilization of direct quotes in DQs and assignments at the Masters’ level and deduct points accordingly.
As Masters’ level students, it is important that you be able to critically analyze and interpret information from journal articles and other resources. Simply restating someone else’s words does not demonstrate an understanding of the content or critical analysis of the content.
It is best to paraphrase content and cite your source.
For assignments that need to be submitted to LopesWrite, please be sure you have received your report and Similarity Index (SI) percentage BEFORE you do a “final submit” to me.
Once you have received your report, please review it. This report will show you grammatical, punctuation, and spelling errors that can easily be fixed. Take the extra few minutes to review instead of getting counted off for these mistakes.
Review your similarities. Did you forget to cite something? Did you not paraphrase well enough? Is your paper made up of someone else’s thoughts more than your own?
Visit the Writing Center in the Student Success Center, under the Resources tab in LoudCloud for tips on improving your paper and SI score.
The university’s policy on late assignments is 10% penalty PER DAY LATE. This also applies to late DQ replies.
Please communicate with me if you anticipate having to submit an assignment late. I am happy to be flexible, with advance notice. We may be able to work out an extension based on extenuating circumstances.
If you do not communicate with me before submitting an assignment late, the GCU late policy will be in effect.
I do not accept assignments that are two or more weeks late unless we have worked out an extension.
As per policy, no assignments are accepted after the last day of class. Any assignment submitted after midnight on the last day of class will not be accepted for grading.
Communication is so very important. There are multiple ways to communicate with me:
Questions to Instructor Forum: This is a great place to ask course content or assignment questions. If you have a question, there is a good chance one of your peers does as well. This is a public forum for the class.
Individual Forum: This is a private forum to ask me questions or send me messages. This will be checked at least once every 24 hours.
Check out Also: BUS 519 Project Risk Management Risk Workshop and Risk Register