Assignment:
Risk Analysis
Sidney Park Health System is experiencing a shortage of coders. Over the past five years, there has been a 30% vacancy rate for coders throughout the main hospital and satellite clinics within the healthcare system. The backlog and vacant positions has created an issue related to unbilled revenue, overworked coders and extended work hours and schedules. It is estimated that there is an annual loss of $12 million. It has also been communicated that many of the qualified coders that were offered a position declined because they are interested in working from home. To address the problem, the health information management department is proposing that there be an implementation of a home-based coding system. This concept is feasible, given that Sidney Park Health System utilizes an electronic health record and all patient information is available electronically. You have been assigned as the project manager to oversee the feasibility and implementation of this project.
Identifying risks is appropriate in developing a project work plan. Not all risks jeopardize project success; however, potential risks should be analyzed in reference to resources, costs, and impact overall to the project. Follow the instructions in the document attached (risk analysis) below to write a 1 .5 page document about your risk analysis.
Requirements
A risk analysis is performed and table is created that analyzes the potential risks of the project.
Table includes the risk description, probability and severity for each risk.
Brief contingency/action noted.
We are working on the project analysis. In order to make sure our project is a success, we must evaluate the risks and the severity of the risks. A risk can be identified as any influence, task, or environmental factor that has the potential to negatively impact the project. Identifying the risks and their severity should start at the very beginning of a project and continue throughout.
For your project week, you are given a risk analysis worksheet. Use the worksheet to determine what potential risks your project may encounter and also rate them on probability and severity. ALSO, you will create a summary to discuss the results of your risk analysis.
Risk Analysis
1. Conduct a risk analysis. Based on the potential risks of your project, create a table outlining the risk description, probability, and severity for each risk. Also briefly note the contingency or action plan.
2. In addition to your table, submit a summary to discuss the results of your risk analysis.
a. Discuss the interpretation of the results
i. Discuss the top three risks, based on the rank (multiply the probability by the severity)
b. Discuss the contingency and action plans
Risk Description Probability (1 to 3) Severity (1 to 3) Contingency/Action Plan
Probability: Likelihood that risk will occur
1 point - Low probability
2 points - Medium probability
3 points - High probability
Severity: Criticality of risk; impact to project
1 point - Low severity
2 points - Medium severity
3 points - High severity