MASTERS CAPSTONE FM010 APA INTEXT CITATION

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Managing Risks for the Center for Diabetes Care:

Olufunmilayo Adeleke

FM010

Walden University

11/27/2018

Managing Risks for the Center for Diabetes Care

Uncertainty and risk are integral parts and parcels of any program; which is why numerous programs encounter problems that delay the project to realize its projected goals, and at worse failing to do so. However, there are various methodologies that can be applied to manage and mitigate potential risks associated with the program. Kambil (2018) emphasizes that the most significant concern, is to have an appropriate risk management process integrated in the project-cycle, with the intention of identifying the program’s risks in an appropriate, thorough, and timely manner. Spedding and Rose (2008) urge that this has the implication that the management unit will have a high ability of identifying and addressing any risk and uncertainty that will crop-up besides being prepared to addressing appropriately these eventualities. This report therefore, details the potential risks associated with the Centre for Diabetes Care, and how to manage besides mitigate them.

Associated Risks and Mitigation Measures:

Market Risk and Mitigation Measures:

Market risk denotes to the overall economy besides securities markets risk that the Center for Diabetes Care investment can face due to fluctuations in the target market; which implies that the investment’s value will decrease (Reuvid, 2008). Although there are numerous standard market risk factors, those that the Center for Diabetes Care can encounter include the commodity risk which is the likelihood in commodity price fluctuation. Besides, inflation risk which concerns the increase in goods and services, which can undermine money value, besides almost certainly adversely impacting the investments value. The other is that the likelihood that, the targeted market not responding to the Center for Care interventions as projected.

Given the large need for diabetes care amongst the aging Hispanic Lowertown community, the Center’s expertise, marketing support and resources, besides the US dollar stability, these market risks are minimal. But, to be on the safer side they ought to be mitigated through integrating strong marketing involvement for the first few years to minimize even more the market risk. Likewise, the overall budget should be include contingency fee that will cover any fluctuations in the input prices. Comment by Linda Mast: This discussion is well done in terms of pure economic perspectives. What about the realities of the specifics of the case?

Competitive Risk and Mitigation Measures:

Competitive risk associated with the Center for Diabetes Care concerns the entry of competitors into the target market hence fostering the potential for losses as a result of competitive pressures; which implies to the likelihood of the Center having reduced revenue and declining margins due to the price, promotion, and product of the competitors (Spedding & Rose, 2008). The major competitive risk would be if a potential competitor builds a satellite center in Lowertown.

Although, the Center for Diabetes Care has an advantage of being set predominantly in a rural setting; that draws the patients from many of the surrounding Hispanic community for a variety of diabetes prevention and management services and thus not expecting much competition in this area. Spedding and Rose (2008) urge that to further mitigate this risk, the Center for Diabetes Care needs to incorporate an ongoing competitive analysis, besides monitoring this situation as well as making appropriate decisions concerning the effective competitive strategy to institute in the program. Comment by Linda Mast: Good point….can’t assume there would not be competition at some point

Furthermore, the Center should continue building its brand so as to win the targeted patients, their primary caregivers, families, and the community long-term loyalty; which means that the Center services should be culturally appropriate, patient-and family-centered, timely, cost-effective, and high quality, with ultimate aim of community health enhancement. Comment by Linda Mast: Any risks related to adequate workforce?

Execution Risk and Mitigation Measures:

The execution risk concerns the inability of the Center for Diabetes Care operations realizing the set goals and objectives in a timely basis, including inefficiencies in managing the roll out and the program growth (Spedding & Rose, 2008). These without a doubt, makes execution a top internal risk that can significantly impact negatively on the program towards realizing its set goals and objectives in an appropriate and timely manner (Reuvid, 2008). The execution risk, can be reduced and mitigated through understanding, identifying, and appropriately addressing the risk factors towards successful execution of the program activities.

Therefore, the human resource, the program director, and the nurse practitioner ought to support the execution of the Center besides providing a clear advantage in minimizing significantly the execution risk (Kambil, 2018). For instance, the nurse practitioner should conduct regular strategic meetings with the community health workers towards discussing and identifying any problems, needs, and challenges experienced in the field. These should then be a basis of addressing appropriately execution risks in subsequent activities.

Following Kambil (2018) the Centre’s management should be able to deal appropriately with the drivers of execution risks, which include first, staff alignment and commitment such as governance, ambiguity and uncertainty issues. Second, critical resources availability to staff such as workloads, budgets, talent, besides data and systems. Third, staff emotional and social resistance such as habit, fear, social dissatisfaction, diminished autonomy and power, and organizational diversity and multiculturalism. Hence, the program director should improve success by ensuring enough resources availability, aligning governance to staff execution, and supporting the staff in fostering an effective workplace and teamwork setting.

Recommendation: Comment by Linda Mast: Hi Funmi, This is the most important part of the paper. It should be specific and useful to Dr. Novak. Ha has requested this to assist him in leading the CDC to success. It should be meaningful and have steps to take.

Managing risks for the Center for Diabetes entails identifying, assessing, and addressing risks that can significantly hamper the program operations. To address appropriately risks associated with the Center, the program director ought to develop a risk management plan that details the appropriate strategies for dealing with specific risks. Hence, it is imperative that time and resources be allocated to this development, with the intention of reducing the likelihood of any incident affecting the Center for Diabetes Care operations.

References

Kambil, A. (2018). Execution risk: Stepping over 12 common hurdles. Deloitte Insights. https://www2.deloitte.com/us/en/pages/finance/articles/cfo-insights-execution-risk-wheel-of-woe.html

Reuvid J. (ed.) (2008). Managing business risk (5th ed). London: Kogan Page

Spedding, L., & Rose, S. (2008). Business risk management handbook: A sustainable approach. Oxford: CIMA Elsevier