Project Funding & Finance: Case study of Capital Hospitals and Barts and the Royal London

Running head: PROJECT FUNDING AND FINANCE
Project Funding & Finance: Case study of Capital Hospitals and Barts and the Royal London
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1PROJECT FUNDING & FINANCE
1. Risk and risk mitigation approaches
1.1 Risk matrix
Risk
Id
Risk name Impact likelihood Risk
ranking
Mitigation approach
R1 Insufficient
clinical services
and support
High (4) Possible
(3)
High
(12)
In order to resolve the identified
risk the Capital Hospitals should
incorporate needful and ideal
clinical support as well as services
to make sure that the hospital is
meeting all primarily identified
operational and functional
objectives.
R2 Overrunning
operational and
allocation cost
High (4) Likely (4) Extreme
(16)
The Barts Health trust is a large
hospital group in the United
Kingdom (UK), but the challenge
that the organization was facing
throughout is overrunning budget.
Before initiating the final operation
the organization should conduct a
feasibility analysis to ensure that
the objectives will be completed

2PROJECT FUNDING & FINANCE
within the estimated budget.
R3 Inappropriate
staff
recruitment and
retention
process
Medium
(3)
Most
likely (5)
Extreme
(15)
The hospital higher managerial
authority should incorporate proper
recruitment and selection policy.
The HR department must follow
those rules and norms while
recruiting new associates.
R4 Lack of quality In order to improve overall quality
of the process accurate quality
management program is needed to
be incorporated by hospital
authority. Continuous
improvement plan and change
management program are the best
suited approaches to be used for the
improvement of the quality. For
making both the hospitals fully
secured and operational as well the
continuous improvement plan is
very essential for success. It has
been determined that if this
approach is not successfully
incorporated to the hospital