Project and Strategic Risk Management Report for Valentine Health

This report provides a comprehensive analysis of project and strategic risk management within the context of Valentine Health Partnership, a healthcare organization. The report begins with a company background and strategic audit, utilizing tools such as PESTEL, SWOT, and Porter's Five Forces to assess the organization's environment and competitive position. The core of the report focuses on improving customer loyalty through a proposed Electronic Prescribing and Medication Management system. It evaluates organizational commitment to customer loyalty, identifies positive and negative issues, and recommends investments to support improvement, including a detailed project plan. The report further addresses project management techniques, stakeholder management, budgeting, forecasting, and ROI. Risk management is critically discussed and applied through risk analysis, category identification, and contingency planning. The report concludes with a critical discussion on the project's various elements and provides strategic recommendations to improve the customer experience and mitigate potential risks.

Running head: PROJECT AND STRATEGIC RISK MANAGEMENT
Project and Strategic Risk Management: Valentine Health Partnership
Name of the Student
Name of the University
Author’s Note:

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Company Background and Strategic Audit
Company Background: Valentine Health Partnership is a popular health organization
in the United Kingdom. They are primary care provider that has partnership in the Royal
Borough of Greenwich and operates mainly from the largest built facility. The customer base
of this company is the group of patients, who are using the services of this hospital and the
position of this organization has gone up in the existing UK healthcare market. More than
1000 employees are working in this organization and they are providing all types of
healthcare services and products to their patients. They are being globally recognized and
revenues were extremely higher in previous year.
Strategic audit of this organization can be completed by the following tools:
i) PESTEL: The political factors that affect Valentine Health Partnership are tax
legislation change, insurance mandate and consumer protection. Governmental subsidies
should be considered by them for reducing existing issues. Economic factors include interest
rates, unemployment and inflation. If these factors would rise, it is evident that patients
would not be able to come down to the organization. Social factors include changes in public
values and demographics. If they will not be aware of the conditions, it could create major
issues. Lack of use of new technologies is one of the major technological factors that affect
this organization. Regarding environmental factor, they have always focused on eco-friendly
environment so that patients get treatment in better environment. Valentine Health
Partnership is following every legal factor related to healthcare industry.
ii) SWOT: The strengths of this organization include cost advantages, innovative
services, cultural connections, extraordinary reputation, specialized expertise in every health
sector, geographical advantages. The weaknesses of this organization include absence of
marketing planning, staff or management problems and gaps in service areas. Opportunities
include competitive advantages, new market segment offering improvement in profit and

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availability of new technologies. Threats of this organization include competitive
vulnerabilities, economic shifts and adverse changes in regulations and reimbursements.
iii) Porter’s Five Forces: The first force is threat of new entrant, which includes
innovation of innovative products or services and building of the economy of scale to lower
fixed cost. Moreover, capacity of building or spending extra resources are other threats of
this company. The second force is bargaining power of suppliers, which involve building
effective supply chains with several suppliers or even experimenting with the product design
along with various material. The third force is bargaining power of buyers, which can be
obtained by building the largest customer base and rapid innovation of innovative products
for seeking discount and offerings over established products. The fourth force of Valentine
Health Partnership can be involved by being service oriented and not only product oriented
and even by understanding core need of their patients. The final force of Valentine Health
Partnership is rivalry amongst the existing competitors that can be involved by building the
sustainable differentiation or collaboration with existing competitors to increase market size.

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Table of Contents
1. Introduction........................................................................................................................ 5
2. Section 1............................................................................................................................ 5
2.1 Evaluation of Strength of the Organizational Commitment for understanding Customer
Loyalty, Behaviour and Experience with Identification of Positive and Negative Issues,
Gaps and Significance to the Firm......................................................................................5
2.2 Justified Recommendation of Investment for supporting an Improvement in Customer
Loyalty by discussing Purpose and Scope of the Project with Project being delivered
through a high level application of the elements of a Project Plan......................................8
2.3 Plan of the Changes for Implementation of the Recommendation with Project
Management Techniques.................................................................................................10
2.4 Recommendation of Qualitative and Quantitative Techniques for Evaluation or
Monitoring of Impact of an Improvement Plan for creating Additional Value from Enhanced
Customer Loyalty with SMART measures for managing Proposed Investment................12
2.5 Critical Discussion on Stakeholder Management of the Project with Development of
High Level Communication Plan.......................................................................................14
3. Section 2.......................................................................................................................... 15
3.1 Critical Discussion on Budgeting, Forecasting and ROI..............................................15
3.2 Cost Benefit Analysis..................................................................................................17
4. Section 3.......................................................................................................................... 18
4.1 Critical Discussion and Application of Risk Management............................................18
4.2 Risk Analysis with Force Field Analysis......................................................................19
4.3 Discussion and Application of Risk Category and Type, Evaluation of Probability,
Assessment or Impact of Risk, Response to Risk and Contingency Planning..................20
5. Conclusion....................................................................................................................... 20

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References........................................................................................................................... 22

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1. Introduction
Strategic management can be referred to as the continuous planning, assessment,
analysis or monitoring of every criterion required for any specific organization for meeting or
fulfilling the objectives or goals. Strategic management is extremely important for strategic
planning that solely represents organizational ability for setting long term and short term
goals so that decisions and actions are being determined for reaching to the goals (Bessis
2015). Valentine Health Partnership is a renowned health organization in the United
Kingdom. The following report outlines a brief discussion on a project, namely Electronic
Prescribing and Medication Management in Valentine Health Partnership.
2. Section 1
2.1 Evaluation of Strength of the Organizational Commitment for understanding
Customer Loyalty, Behaviour and Experience with Identification of Positive and
Negative Issues, Gaps and Significance to the Firm
Valentine Health Partnership is responsible for providing health care services to the
customers and it is being designed with the needs of patients at the respective forefront of
everything such as checking surgery times to notifying patients about their current status and
conditions (Cole et al. 2013). They always focus on customer loyalty and customer
satisfaction to a high level and thus it becomes quite easy to maintain better effectiveness in
their business. Valentine Health Partnership have better commitment to understand
customer loyalty and experience by identifying positive and negative issues or gaps. The
organizational commitment of Valentine Health Partnership is to serve their patients with
better efficiency and effectiveness so that the customers or patients are satisfied with
services and the business is able to gain better competitive advantages (Lam 2014).
Customer loyalty can be referred to as the outcome of reliable positive emotional
experience, physical attributes based satisfaction as well as apparent values of the customer
experiences by including services or products.

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They have been sharing their services and products by means of social media as
well as by exceeding expectations. Valentine Health Partnership has been involving social
media in their business with the strategic goals and objectives (Glendon and Clarke 2015).
Social media platforms and websites could be termed as effective to promote their services
and products and thus they have been successful in strengthening major aspects of the
business such as customer loyalty. They have implemented six basic ways of social media
building customer loyalty, which include listening and interacting with the audience,
development of engagement plan, and engagement with the most active marketing
managers, offering of advantages and any other rewards, sharing of their best content and
finally providing details about the company (Cardona 2013). Valentine Health Partnership is
being utilizing customer relationship management so that they do not face any issue
regarding customer management. With the help of these six ways, they are able to maintain
better relations with the patients and these patients are able to discuss their problems and
issues with the organization.
Social media is solely responsible for changing the methodology by which people
generally interact with one another after offering better convenience, however lesser quality.
It is quite simple and quick to contact with the customers and easy to meet with the new
individuals (Hopkin 2018). Valentine Health Partnership has been using social media as an
important part of their business success and hence gaining better competitive advantages.
They are able to diminish the constitution of social interaction for modernized generation.
Although, they have gained major success in terms of organizational commitment and
customer loyalty by social media, there are few negative aspects as well.
The positive aspects of customer loyalty with social media in respect to the
organization of Valentine Health Partnership are as follows:
i) Connectivity with Customers: The first and the foremost positive aspect of
organizational commitment of Valentine Health Partnership for customer loyalty is that they
are able to maintain a connection with their customers or patients (McNeil, Frey and

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Embrechts 2015). Communication is one of the major and the most significant or important
parts of hospital or medical field. It is extremely vital for both patients and doctors to
communicate amongst each other and hence doctors or nurses of Valentine Health
Partnership are able to resolve issues of the customers.
ii) Information and Updates: The second positive aspect of the organizational
commitment of Valentine Health Partnership for customer loyalty is obtaining better
information and updates. It is often being noticed that patients reside at remote places and
hence communication is required on a top priority. By social media, they are able to obtain
periodical data without much issue or complexity (Pritchard and PMP 2014). This particular
organization is able to obtain better competitive advantages with the help of customer
interaction and satisfaction. Accurate and proper information is being gained by social media
and hence B2C or business to consumer is successful in their organization.
iii) Awareness: The third important and significant positive aspect of this
organizational commitment of Valentine Health Partnership for customer loyalty is
awareness. It is quite vital to spread awareness amongst organizational members and
customers so that they are able to bring out new creativeness and innovativeness in their
business (Ho et al. 2015). Social media is the distinctive platform that helps Valentine Health
Partnership in enhancing their business advancements to a high level and hence the
organization is able to get a quick way for helping their customers in involvement of
customer relationship management.
The negative issues or aspects of organizational commitment of Valentine Health
Partnership for customer loyalty, behavior and experience are as follows:
i) Security Issues: Since, Valentine Health Partnership is a health organization, it is
highly mandatory to maintain privacy and security to a higher level and for this particular
purpose, they have implemented some of the major and the most significant factors or steps
that can reduce complexity of data management without much complexity (Aven 2016).

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However, in spite of having such distinctive advantages, these security issues could be
extremely destructive and could bring out some of the major issues related to data loss.
Patients’ data should not be lost under any circumstance, hence ensuring higher data
security is mandatory.
ii) Customer Dissatisfaction: This is the second negative issue or significance that
should be noted under every circumstance for Valentine Health Partnership. Although they
try to spread awareness through social media; every customer or patient might not be
comfortable with the utilization of social media (Chance and Brooks 2015). This could
eventually lead to massive dissatisfaction of customers in a high level and Valentine Health
Partnership may lose these patients if they would be highly involved digitally.
These negative aspects or issues could have major high negative significance on the
organization and hence Valentine Health Partnership might face significant issues due to this
particular problem.
2.2 Justified Recommendation of Investment for supporting an Improvement in
Customer Loyalty by discussing Purpose and Scope of the Project with Project being
delivered through a high level application of the elements of a Project Plan
2.2.1 Justified Recommendations
This Valentine Health Partnership aims in providing most valued services to its
customers as it is one of the primary care provider in London. With an aim of providing best
services to its customer, the organization is implementing a new electronic Prescribing and
Medication management system. However, the organization is in need for improving their
customer loyalty process and procedures. This section of the report will provide
recommendations for improvement of the customer loyalty program. Prior to that, the
purpose and the scope of the project is needed to be evaluated.
Purpose of the Project

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The purpose of the undertaken project is to automate the entire process of
medication management. In Valentine Health Partnership, the manual process of medication
management needs improvement in terms of the speed of processing of each prescriptions
and also in accuracy. The proposed project is expected to address all these shortcomings, to
provide an improved services to its customers.
Scope of the Project
i) In Scope:
1. The automated electronic prescribing and the medication management system will
be implemented within the scheduled time.
2. Training to all the staffs and nurses will be provided as a part of the project.
ii) Out Scope:
1. Training to the customers regarding electronic prescribing.
2. Modifications in the specification of the electronic prescribing and the medication
management system, after the initiation of the project.
Suitable Recommendations
The purpose and the scope of the project indicates that the project is being
developed and delivered to improve the customers’ experience. The recommended area in
which the organization should invest more to ascertain customers’ loyalty, would be the use
of social Media. The promotion of the system along with the illustration of the working
principle of the same, in the social media can help the customers in getting a better idea of
the product to be developed and therefore, this recommendation is justified.
Delivery of the Project and Implementation of Changes
The project, electronic Prescribing and Medication Management system, will be
delivered in 1 year, which include its promotion in social Media. The project will follow a

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sequential approach of designing, testing and launching of the software. The Risk
Management process will be conducted in each stage to implement the system without any
issue. The social media promotions play a crucial role in success of the project.
2.3 Plan of the Changes for Implementation of the Recommendation with Project
Management Techniques
The Plan of the Changes
i) Work Breakdown Structure
Figure 1: Work Breakdown Structure
(Created by the Author in MS Project)
ii) Gantt Chart

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Figure 2: Illustrating the Gantt Chart
(Created by the Author in MS Project)
iii) Critical Path
The critical path of the undertaken project is marked in red in the figure below-

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Figure 3: Illustrating the Critical Path
(Created by the Author in MS Project)
iv) Project Control
Enforcement of effective control on the project is crucial to ascertain that there is no
delays in the completion of the undertaken project. As a part of project control, continuous
monitoring and testing of the project execution approach is ascertained so that the delays in
the project is reduced. Project monitoring is an effective process of project control.
2.4 Recommendation of Qualitative and Quantitative Techniques for Evaluation or
Monitoring of Impact of an Improvement Plan for creating Additional Value from
Enhanced Customer Loyalty with SMART measures for managing Proposed
Investment
Qualitative and quantitative techniques are required for better evaluation and
monitoring of the impacts of an improvement plan to properly create additional values from
enhanced customer loyalty in Valentine Health Partnership.

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i) Qualitative Technique: The most suitable and recommended qualitative technique
to complete evaluation and monitoring of the impacts of an improvement plan to properly
create additional values from enhanced customer loyalty in Valentine Health Partnership is
planning (Bolton, Chen and Wang 2013). It is the procedure to think about the major
activities needed for subsequent achievement of a desired or expected goal and objective.
Since, they want to involve electronic prescription in their business, it is highly mandatory for
them to make a proper planning. This is not only required for better management of the
project, but also for improving in their business. As a result, customer loyalty and experience
are enhanced to a higher level to ensure that customer relationship management is being
followed under every circumstance (Bromiley et al. 2015). Moreover, this particular
recommended qualitative technique has a stronger relation with the forecasting, hence
reducing complexity of forecasting and budgeting majorly. Proper planning would even
reduce usage of excess resources majorly.
ii) Quantitative Technique: The most suitable and recommended quantitative
technique to complete evaluation and monitoring of the impacts of an improvement plan to
properly create additional values from enhanced customer loyalty in Valentine Health
Partnership is survey (Haimes 2015). This type of research is the proper collection of
information from a distinctive sample of individuals through the responses to questions. The
survey research enables for a wide variety of methods for recruitment of participants,
collection of data and finally utilization of methods of instrumentation. Valentine Health
Partnership should conduct a survey regarding their new project of electronic prescription
and medication management and hence gain appropriate information or data that whether
patients or other doctors are happy with this project. The main purpose of this type of survey
research was obtaining accurate information for describing characteristics of a larger sample
of interests (Edwards and Bowen 2013). The SMART measures of this technique for
monitoring and managing proposed investment are specific, measurable, achievable, and

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realistic and time focused. Valentine Health Partnership would be able to achieve these
above mentioned measures with this project.
2.5 Critical Discussion on Stakeholder Management of the Project with Development
of High Level Communication Plan
Stakeholder management can be stated as the systematic identification, analyses,
proper planning as well as implementation of the actions that are being designed for
engagement with the various stakeholders. It is a major set of techniques, which is
responsible for harnessing the positive influences before minimizing the overall effect of
negative influences (Reboredo 2013). This stakeholder management consists of four major
steps, which include identification of stakeholders, assessment of the interest and
influences, development of communication management planning and finally engagement
and influencing stakeholders. Significant kinds of stakeholders would involve groups or
individuals performing these works, or individuals affected by these works, customers,
shareholders and owners and finally statutory as well as regulatory body.
Communication with the stakeholders would be effectively managed so that the
organization is able to resolve the issues. Valentine Health Partnership should focus on
stakeholder management for ensuring that communication is proper amongst them. The
external stakeholders of this particular project include patients, creditors, society, local
community and the government (Earle and Cvetkovich 2013). The internal stakeholders of
this particular project include investors, board of directors, managers and employees
working in Valentine Health Partnership. The six steps of communication plan for this
specific project are as follows:
i) Performing Situational Analysis: A situational analysis is required to be done
perfectly so that need of the project is being identified.

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ii) Defining Objectives: The main objectives of this project include making the
process of prescription much easier than usual and managing medication field completely
and properly (Aven and Zio 2014).
iii) Defining Key Customers: The key customers of this project are patients and
doctors. Since, they are directly involved with medication system, it is important to involve
them in the project.
iv) Identification of Media Channels: Social media is one of the best media
channels for Valentine Health Partnership and it would reduce complexity majorly.
v) Establishment of a Timetable: A significant timetable is needed to be established
for the core purpose of achieving project objectives (Hinkel et al. 2015). A proper timing
strategy is needed to be made for this communication plan.
vi) Evaluation of Results: The annual reports and progress reports are required to
be analysed properly in Valentine Health Partnership so that they are able to implement
electronic prescription without much issue.
3. Section 2
3.1 Critical Discussion on Budgeting, Forecasting and ROI
i) Budgeting: Budgeting can be defined as the specific procedure for creation of a
plan for spending money of the users. The spending plan is termed as budget and the
creation of this spending plan eventually allows the user in determining whether he would be
having enough money for completion of his scheduled work (Serpella et al. 2014). Budgeting
is extremely important for ensuring that excess resources are not spend under any
circumstance. A budget is the distinctive estimation of expenses and revenue over a specific
future period of time and is being compiled and re evaluated over a periodical basis. These
budgets could be made for a person, a group of people, a multinational company, a group of
people, a government or even a family for making and spending money. Budgeting is the
internal tool that is being utilized by management and is not needed for reporting by the

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external parties (Van Staveren 2018). It is the micro economic concept, which shows trade
off made and exchanged for other.
ii) Forecasting: Forecasting can be defined as the core procedure to make
subsequent predictions of the future based for present and past data and majorly by better
trend analysis. Major estimation of few variables of interest at any particular future date is
the most common example of forecasting. In this project of electronic prescribing, Valentine
Health Partnership, can easily estimate the variables of interest without much complexity for
the core purpose of forecasting (Sweeting 2017). Uncertainty and risk are the major issues
for prediction and forecasting helps in reducing these issues.
iii) ROI: Return on investment or ROI can be stated as the performance measure that
is being utilized for evaluation of efficiency of any investment and comparing the overall
efficiency of a number of several investments. This return on investment tries to directly
measure the amount of return over a specified investment in relation to the investment costs
(Cagliano, Grimaldi and Rafele 2015). For calculating ROI, benefit or return of the
investment is being divided by cost of investment.
ROI = (Current Value of Investment - Cost of Investment) / Cost of Investment.

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3.2 Cost Benefit Analysis
Figure 4: Illustrating the Financial Appraisal of the Undertaken Project
(Created by the Author in MS Excel)
i) Forecast
The cost benefit Analysis (CBA) indicate that break-even occurs between year 3 and
year 4, or precisely in 3 years and 63 days. This indicates that the project is worth the
investment. Figure 4 indicates all the cost considered for development of the Electronic
Prescribing and Medication Management System.
ii) ROI
The cost benefit analysis indicate that the project has a positive return on investment
(17%) and therefore, it can be concluded that the project is economically feasible.

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Non financial Benefits of the Project
The five non financial benefits of this particular project are as follows:
i) Satisfied Stakeholders: This is the first non financial benefit of the project. The
stakeholders would be extremely satisfied with electronic prescription as complexity of data
management would be reduced to a high level (Renz and Herman 2016). Moreover,
customers would be happier with the services even more.
ii) Better Communication: The communication within organizational members and
customers would be increased to a high level and issue of lack of communication would be
completely resolved. Furthermore, electronic prescription helps in saving time for both
doctors and patients and they would be more satisfied.
iii) Happy Patients: Due to the lack of complexity with this project, patients or end
users would be quite happy (Mortimer and Mortimer 2015). For the presence of medication
management, patients do not face any type of issue regarding understanding of medication
system, hence providing advantages to the business majorly.
4. Section 3
4.1 Critical Discussion and Application of Risk Management
Risk management could be stated as the procedure to recognize, assess as well as
manage the risks to any specific company’s capital and earnings. Such threats can arise
from a wider range of sources like financial uncertainties, strategic management errors, legal
liabilities and accidents (Andersen et al. 2013). Emerging technologies or customer
expectations eventually force the organizations in thinking and making relevant decisions
strategically so that they are able to remain successful. This procedure of the strategic
management helps the organizational leaders for assessing current situation of the
company, chalking out of strategies and analysis of effectiveness of every implemented
strategy. Cross functional business decision is being analysed even before implementing
them and it mainly involves analysis of external and internal strengths and weaknesses as

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well as formulation of action plans, before executing them successfully (Hopkinson 2017).
These strategic decisions are extremely vulnerable and are required to be made risk free for
electronic prescription and medication management in Valentine Health Partnership. The
most significant sources of threats are financial risks, reputational risks, legal risks,
operational risks and strategic risks.
4.2 Risk Analysis with Force Field Analyses
Force field analyses is the change management technique that helps in displaying as
well as analysing the forces, which are bringing movement towards any objective or the
helping forces or even restraining movement towards the goal or hindering forces. This
particular technique helps in analysing the risks by identification or analysis of potential
issues, which can negatively impact the key business initiatives and critical projects for
helping the company to mitigate or avoid these risks. The major risks in this particular project
are strategic risks.
Figure 5: Force Field Analysis
(Source: Ibelings et al. 2014)

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PROJECT AND STRATEGIC MANAGEMENT
4.3 Discussion and Application of Risk Category and Type, Evaluation of Probability,
Assessment or Impact of Risk, Response to Risk and Contingency Planning
The strategic project manager can handle project, which contributes to organizational
success and new products are developed in a better manner. Such projects can represent
significant opportunities so that they are able to reduce operational costs or expenses. Work
prioritization is possible for keeping track of the project work and hence enabling tangible
business value (Renz and Herman 2016). Resource portfolio management is one of the
major and the most important part of project management that helps the project manager to
manage project resources effectively and efficiently.
ROLES
Project Sponsor
Valentine
Health
Partnership
Project
Manager
Technical Lead
Developers
Technical
service provider
Testing team
Testters
Deliverable or Task Status
Initiation of the Project
Requirements Identification R C R I C
Risk Analysis A C I A
Planning phase
Preparation of the Design of software C I R I
Developinng plan of the project I A C R A
Execution and Testing Phase
Developing the code A I R C
Completion of coding and testing I C R A A
Quality Assurance and Control Phase
Completion of project documentation I R A C
Quality check over the software C A R R A
Project Closure Phase
Social media promotions and collection of feedback I R A C
Sponsor Project Team Other Resources
Figure 6: RACI Matrix of the project
(Source: Created by the Author in MS Excel)
5. Conclusion
Therefore, conclusion can be drawn that strategic management is extremely
important and significant for any project to make it successful in nature. After focusing on

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better improvement of customer satisfaction, analysis of market data, beating competition
and ensuring long term success or profitability. The project managers mainly ensure that
every goal or objective of the project is aligned with organizational objectives and mission.
Delays are reduced with this management and there is a high tendency that organizational
goals are aligned without much complexity. Valentine Health Partnership, being a popular
health care organization in the United Kingdom is focusing on electronic prescribing and
medication management. This above provided business report has clearly demonstrated
about the project with major details like project plan, risk analysis and many more.

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