Health Network Risk Management Plan

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Recommended: Objectives of a risk management program

Executive Summary
This Plan can serve as a model to develop risk management program to meet the needs of Health Network, Inc (HNI). It is recommended that the Plan be approved by the senior management and disseminated to staff. The following risk management plan is designed to support the vision and mission of HNI and also adheres to the compliance guidelines of the various compliance laws and meets the standards proposed by those laws.

Introduction
Health Network, Inc. (HNI), is a health services organization headquartered in Minneapolis, Minnesota. HNI has over 600 employees throughout the organization and generates $500 million USD in annual revenue. The company has two additional locations in Portland, Oregon and Arlington, Virginia, which …show more content…

Because of the importance of risk management to the organization, senior management is committed to and supportive of the project to develop a new plan. This Plan can serve as a model to develop risk management program to meet the needs of HNI.

Scope
HNI’s Risk Management Program interfaces with many operational departments and services throughout the organization. Health Network has three main products: HNetExchange, HNetPay, and HNetConnect. The risk management program provides for collaboration among all departments and services within HNI, and provides policies, procedures and protocols to address events which may create various business-related liabilities to HNI. This plan will influence the leaders of the following departments to achieve quality and protect HNI’s resources:
1. Senior Management
2. Administration.
3. Financial …show more content…

According to Pritchard (2015), risks should be assessed from time to time to check if there are any untreated risks in the system and proper control measures has to be applied to reduce or eliminate the risk.

Roles and Responsibilities
Senior Management: Ultimate responsibility for ensuring appropriate risk management processes are applied rests with the senior management. The senior management personnel like the CEO, CFO CTO and CCO should be involved in the risk management team. This will help in faster decision making and reduce delays in getting necessary clearances from senior management in treating the potential or ongoing risks.
Project Manager: A project Manager should be assigned the responsibility of development and implementation of the risk management plan.
Project team: A must be formed who will be responsible for assisting the Project Manager in the risk management process.
Also, all the employees should be educated on risks and encouraged to report risks they encounter to the risk management team. This is because risk management is a collaborative process and this would help in bringing in notice any risks that must have been overlooked by the Risk Management

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