Situation at Carenetwest

Situation at CareNetWest

As the situations at CareNewWest if facing is not an old one from some companies. With a new company that is dealing with public healthcare which is facing many risk management challenges. Some of those issues include the lack of a risk management team. As the Army Information Management states that “Risk management: Process of identifying, assessing, and controlling risks arising from operational factors and threats and making decisions that balance risks and costs with mission benefits.” Possibility risk is something unsympathetic occur. Risk management is the progression of evaluating risk, which would escort in smart steps to reduce risk to a satisfactory level, and continuing that level of risk. Conversely, by chance not always aware of it, individuals come to grips with risks every day. Businesses as such as reduction the CareNewWest supports.

CareNewWest would need to hire a third party risk management team which would run an audit for the risks that the company is going through. This will show CareNewWest the errors that need to be handled in order to develop a repair process. In addition, this will show the board members of the CareNewWest that the management and staff are willing to make amends of the issues that are going on within the company. The CEO would need to approve the necessity funds to move forward with the risk management firm as well as the repair works of the groups finding. CareNewWest would also need to hire are select within the company a project manager who will facilitate the requirements that is needed to move forward with the corrections.

Dealing with the Key Experienced operational position that is open; CareNewWest would need to find a person who is experience in fixing and running a successful repairing process. With Dawn Nelson was having had a strong relationship with an independent accounting. SOX Sarbanes-Oxley Act (SOX) was originally passed in 2002; many companies was less than passionate about SOX appearing. Concerns that CareNewWest about the supplementary responsibility and the inner transformation that would need to take identify contemplate seriously on the minds of many company senior managers. In to fully devolved a solid process of improvements in order to fill the key operational positions that are vacant. Through bi-weekly meetings with the agenda set towards key players improving his or her own area. For example, Vice Presidents of each operational of each areas that will commutate change feedback from managers, supervisors and other lower level members of the company.

Assigning a project manager to over see the and facilitate the findings of the third party of the Risk Management Team. This would give