Center for Diabetes Care

Managing Risks for the Center for Diabetes Care:

Olufunmilayo Adeleke

FM010

Walden University

12/17/18

Managing Risks for the Center for Diabetes Care

Uncertainty and risk are integral parts and parcels of any program; which is why numerous programs encounter problems that delay the project to in realize realizing its projected goals, and at worse failing to do so. However, various methodologies can be applied to manage and mitigate potential risks associated with the program. Kambil (2018) emphasizes that the most significant concern is to have an appropriate risk management process integrated into the project-cycle, with the intention of identifying the program’s risks in an appropriate, thorough, and timely manner. Spedding and Rose (2008) urge that this has the implication that the management unit will have a high ability to identify and addressing any risk and uncertainty that will crop-up, and besides being prepared to addressing these eventualities appropriately. This report, therefore, details the potential risks associated with the Centre for Diabetes Care, and how to manage besides and mitigateing themthese risks.

Associated Risks and Mitigation Measures:

Market Risk and Mitigation Measures:

Market risk denotes to the overall economy besides securities markets risk that the Center for Diabetes Care investment can face due to fluctuations in the target market; which implies that the investment’s value will decrease (Reuvid, 2008). Although there are numerous standard market risk factors, those that the Center for Diabetes Care can encounter include the commodity risk which is the likelihood in commodity price fluctuation. Besides, inflation risk which concerns the increase in goods and services, which can undermine money monetary value, besides almost certainly adversely impacting the value of investments. The other is that the likelihood that, the targeted market not responding to the Center for Care interventions as projected. Comment by Dr. Steve: This sentence is not clear Comment by Dr. Steve: The risk you describe is not realistic for this initiative; you describe a reis for a large company or multi-nation international organization – the Center is a small community clinic in a specific area – the description you provide of a risk to the Center is not realistic or scaled appropriately

Given the large need for diabetes care amongst the aging Hispanic Lowertown community, the Center’s expertise, marketing support, and resources, besides and the US dollar stability, these market risks are minimal. But, to be on the safer side, they ought to be mitigated through integrating strong marketing involvement for the first few years to minimize even more the market risk. Likewise, the overall budget should include a contingency fee that will cover any fluctuations in the input prices. Risk mitigation strategies can be put in place to control the effects from spreading further. Therefore, several risk mitigation measures can be implemented to curb the problem. First, one can characterize the leading cause of the identified risks in earlier research. Secondly, they can evaluate some of the common causes of these risks and then seek alternatives for assessing and mitigation. Thirdly, one should come up with the correct methods, tools, and strategies for every significant risk. One can then present the results to the relevant people for implementation. Comment by Dr. Steve: This is not a realistic strategy given the finances of this initiative Comment by Dr. Steve: These are not specific enough

Competitive Risk and Mitigation Measures:

Competitive risk associated with the Center for Diabetes Care concerns the entry of competitors into the target market hence fostering the potential for losses as a result of competitive pressures; . which This risk implies to the likelihood of the Center having reduced revenue and declining margins due to the price, promotion, and product of the competitors (Spedding & Rose, 2008). The significant competitive risk will be if a potential competitor builds a satellite center in Lowertown. Comment by Dr. Steve: Very good – this is a reasonable risk to consider

Although, the Center for Diabetes Care has an advantage of being set predominantly in a rural setting; that draws the patients from many of the surrounding Hispanic community for a variety of diabetes prevention and management services and thus not expecting much competition in this area. Spedding and Rose (2008) urge that to mitigate this risk further, the Center for Diabetes Care needs to incorporate an ongoing competitive analysis, as well as making appropriate decisions concerning the effective competitive strategy to institute in the program. Regardless of the stability of the Centre for Diabetes Care, the disruption may come along at any time and especially when least expected. Without proper management strategies, TCDC may fail its clients. Therefore, it needs to identify the possible competition and work towards it in the best way possible to emerge more effective. TCDC can avoid competition by introducing more advanced healthcare to patients with diabetes and include special treatment procedures to remain competent and capable., above its counterparts. The bodyTCDC can also identify treatment procedures lacking in their competitors and implement them so, that it offers a unique treatment experience, therefore, overcoming its competitors. Through In these ways, TCDC can overcome competition and remain competitive. Comment by Dr. Steve: Run on sentence

Furthermore, the Center should continue building its brand so as to win the targeted patients, their primary caregivers, families, and the community long-term loyalty; . which This means that the Center services should be culturally appropriate, patient and family-centered, timely, cost-effective, and high quality, with the ultimate aim of community health enhancement. There are no risks related to the adequate workforce since the Centre will have enough personnel to execute all its functions effectively and efficiently. With a sufficient workforce, the Centre will reach out to more patients and families which mean that it will achieve its target easier. Therefore, an adequate workforce will help the Centre accomplish its mandate and minimize any risks. Comment by Dr. Steve: This actually is a risk given the skilled labor market in this area, and the special language skills required – this could become the risk to replace your first risk