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Risk Assessment & Risk Management

FOX Systems, Inc. (FOX) defines risk management as criticality multiplied by the probability that an event will occur. In this case:

Government Consulting
 
  • Criticality = the impact of a future event (no impact = no risk)
  • Probability = the chance that the future event will occur (if present, it’s a problem, not a risk)

The evolution of information technology (IT) and continuing advancements in electronic data interchange (EDI) have had, and will continue to have, a major impact on the operations of a healthcare organization.

Examples of common risks to a Government Healthcare IT project include:

  • The ability of a system to meet functionality expectations
  • The ability for a system to achieve compliance with federal, state, and local legislation / regulations
  • Ensuring that the system achieves privacy and security of electronic data
  • Changes to the client’s IT budget or related state and federal budgets
  • Viability of the IT project’s staffing assumptions and the ongoing IT management staffing assumptions·
  • Availability of resources to support the Design, Development, and Implementation time schedules
  • Maintenance of critical operations in event of natural or man-made disaster

FOX provides an in-depth assessment of the current risks related to technology in a healthcare organization and offers effective solutions that mitigate identified current risks and allow for effective identification and management of future risks. FOX will proactively identify risks to a client’s IT project, make recommendations that prevent or minimize the risks, identify the causes of unmet expectations or deadlines, and monitor the status of corrective action plans or risk intervention strategies.

Risk management is an iterative process, and one that will be continuously performed throughout the life of the project. A key element of our risk management approach is the establishment of clear and open channels of communication between the FOX Team and the Client. The FOX Team includes the Client as an active participant in the identification, analysis, and mitigation of all project risks. Our collaborative efforts, plans, mitigation approaches, and results are available to the Client at all times.


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