Risk Profile: Leadership – Strategic projects

Risk Profile: Leadership – Strategic projects (PDF version)

Deficiencies/failures in large scale projects (e.g. building, program, IT) including cost overruns, schedule delays, failure to meet key milestones/deliverables, scope creep, cancellation, personnel changes, and stakeholder dissatisfaction can negatively impact a healthcare organization’s operations, finances and reputation. Other issues relate to having an excessive number of organizational priorities/projects which may fail due to lack of capacity in planning and execution. This document contains information entered by your peers in the Risk Register application to help you manage this risk.

Ranking/ratings[1]

  • Likelihood – average score 3.6
  • Impact – average score 3.8

The Risk Register allows for risks to be assessed on a five-point likelihood and impact scale, with five being the highest.

Key controls/mitigation strategies

  • Project priority setting and harmonization across organization
  • Strong project governance including senior leadership accountability for each project
  • Project management and portfolio management best practices, processes and staff resources
  • Efficient allocation of financial and human resources
  • Stakeholder engagement
  • Strategic partnership and/or collaboration with third parties (e.g. vendors, ministry)
  • Formalized and thorough RFP process
  • Clearly defined scope, plans, deliverables
  • Communication and reporting processes
  • Change management processes
  • Project risk identification and controls
  • Insurance (building/construction)
  • Project reports; key milestones achieved/missed (e.g. monthly)
  • Regular review/re-prioritization of all projects (e.g. bi-annual)

Monitoring/indicators

  • Project reports; key milestones achieved/missed (e.g. monthly)
  • Regular review of project costs and timeline
  • Regular review/re-prioritization of all projects (e.g. bi-annual)
  • Reporting at the board level; committee to oversee the strategic project

[1] As of January 1, 2017

Note: information presented in this document has been taken from the shared repository of risks captured by HIROC subscribers participating in the Integrated Risk Management program.

© 2017 HIROC. For quality assurance purposes.