As per Kudszus et al. (2020), it is noteworthy that a risk register is indicated as a tool that is utilized to recognize prospective risks that might impact the implementation of the project plan. Besides, it assists the project managers in listing risks, their priority level, mitigation approaches, and the risk owner so that each involved in the project team can know how to react to project risks. The risk register document also termed a risk register log can trace likely risks mainly in a project. This further entails information on the priority of the risks and the probability of their occurrence (Erfani et al., 2023). The Blue Haven Aged Care is owned by the Kiama Council. The mission of this Aged Care service is the protection, comfort, and welfare of senior representatives of its broader community, including individuals with a disability. This organization attains it by offering autonomous choices, delightful facilities, and ways to rejoice in life to its full potential. This company usually provides all levels of aged care including housing in Kiama to the community facilities through the Shoalhaven and Illawarra (Marriott-Statham et al., 2018). This paper is aimed at discussing and recognizing a minimum of three strategic risks that could be confronted by this aged care services which are represented by its governing body. Moreover, it will entail the approach considered to compile the risk register. It will encompass further the recommendations for the governing body to perform next to deal with identified risks.
According to El Khatib & Ali (2022), to gather the likely risks that might occur and affect the governing body of an organization, one might require a systematic approach to certify one attains the most thorough outline possible. The method that is considered in compiling the risk registers initiates from recognizing a broad set of risks. However, they must then be filtered to enable the Blue Haven Company to focus on those with the highest prospective impact. To identify the strategic risks facing the governing body of aged care, there has been use of information about the current issues the company is facing by looking at the Performance Improvement Plan conducted by the Kiama Council. Besides, there has been use of information contained in the minutes of Kiama Council and certain newscasts and the website of the Aged Care Quality and Safety Commission to recognize any sort of compliance problems. The information regarding the governance reforms for the aged care sector is also used.
According to the information contained in the Performance Improvement Plan by the company, it can be said that there has been a non-compliance issue facing Blue Haven Company. The risk is the non-adherence with the investment policy of the Kiama Council and the Office of native government principles for suitable monitoring and reporting of the variations and the positions of limited funds. The control in place to deal with this risk is that the investment portfolio is constantly reviewed to surge investment performance and reduce risks. Moreover, autonomous advice is being presented on newer investment prospects (Kiama Municipal Council, 2023).
Another risk identified from the site audit performance report of the Blue Haven Bonaira is regarding the health and safety of the consumers. However, the control practice of this company is that it has a clinical governance outline that certifies the excellence and security of clinical care, reduction of restrictive practices, and more (Australian Government, 2023 a).
This company has been facing issues in the area of staffing or human resources availability to provide service to individuals. However, it is presently in the procedure of working towards surging the average amount of nursing and personal care accessibility (Australian Government, 2023 b).
Out of the above-identified risks, the main concerns are in the area of providing quality care to aged people. The quality standards are not met by Blue Haven Aged Care Services in the following areas:
More action is required in the treatment plan. Also, the governing body must pursue subsequent information on the risks in the area of compliance and quality clinical care.
Given the identified risks, the governing body should do the following:
Such suggestions are pursued to increase corporate governance norms to the identical level as listed public units, and it brings with it much greater expectations to reflect a company’s competency and commitment to high-quality care. The above suggestions relate to the governance responsibilities since standard 8 of the quality standards needs the company to possess a company-wide strategy to involve clients in establishing, offering, and assessing their care as a part of providing client-centered services.
As per de Araújo Lima et al. (2020), the strategic risks are deemed the ones that arise from the essential decisions that directors consider concerning the company's objectives. Further, these are the risks of not being able to attain the corporate objectives. These can also threaten a company's capability to set and execute its selected strategy. Below is the risk register demonstrating five major risks impacting Blue Haven Bonaira to analyze. It has further showcased the potential risk event, potential impact when risk was to occur at a strategic level, consequences of risk, likelihood of the event occurring, and further actions that are needed to deal with identified risks.
Reference ID |
Describe the risk |
Potential Impact |
Consequences |
Likelihood |
Controls expected to be in place |
Further actions required |
# 1: Quality care/ health and safety risk |
● The risk facing the governing body is in the area of providing quality care to older people. The service has been experiencing poor to average performance in a few areas of quality care such as pressure injuries, physical restraint, unplanned weight loss, falls & major injuries, and medication management (Waling et al., 2019) |
The potential impact when the risk of poor quality care is to occur at a strategic level resulting in restricted means to monitor the care delivery and consumer clinical results to certify care endures to fulfill desires and notify corporate constant improvement. |
The consequences when this risk occurred for Kiama Council include poor outcomes for the consumers (older people). It further led to higher costs of treating the disabled older individuals. Also, it has lowered the confidence of the consumers in the services of Blue Haven aged care services. |
Very likely |
It is suggested that the governance body of Blue Haven possesses the right risk managerial and governance controls in place to reduce failures and unfavorable impacts. |
The actions that are further required to deal with this risk can be getting a strong standardized, company-wide strategy which might need re-engineering of procedures and activities. Action can also include retraining and upskilling whole staff members to certify such refinements are consistent and placed (Eagar et al., 2019). |
# 2: Compliance |
The risk facing the Blue Haven governing body in the area of compliance is that this aged care service failed to comply with the investment policy of the Kiama Council and Office of native government principles for suitable monitoring and reporting of the variations and the positions of limited funds. |
This will have a significant impact on the reputation of the Blue Haven Company. Also, it can lead to financial losses, breach of securities, disruption of business, poor care of older people, license cancellation, trust breakdown, and a destroyed positioning in the market. |
It led to a negative impact on government grants, and funds, leading to a decline in older people numbers, developing complexity with appealing and retaining quality workforces, potentially producing legal litigation, and drawing greater regulatory scrutiny (Jayakumar, 2023). |
Likely |
The control measures to lessen the compliance-related risks in the case of Blue Haven organization can include stakeholder engagement; business diversification; constant corporate working groups; and representation in government advisory groups. |
The Blue Haven service provider must fulfill State and Federal rules and norms. It is further required to be aware of some codes of aged care practice to ensure compliance with its business. Also, the governing body must work closely with the managerial team to evaluate risks and come up with internal compliance rules (Henderson & Willis, 2020). |
# 3: Human resource/culture |
Shortage of human resources and skilled members in the team to provide aged care services. |
The potential impact of non-availability of staff members and filling positions with less competent workforces might lead to a governing board not fulfilling its duty of care obligations. It henceforth leads to lower standards of services and care and the use of inefficient scheduling channels and procedures. |
The consequences of this risk can be seen in Blue Haven's incapability of under-resourced services to continue to offer care and appeal to new service users. |
Likely |
The control measure can be the use of leadership skills by the governing body by adopting a transformative leadership style. This would be able to provide a vision for higher-quality compassionate care. |
The actions required entail that the priority by the governing body should be provided to practices that can surge the workforce in the short-run, and refine long-run outcomes. Also, it is suggested that industry associates establish low-cost retraining choices for those returning to the sector to the abilities and appeal to the workforce (Carnevale & Hatak, 2020). |
# 4: Financial |
The cash flow position of the Blue Haven and risks linked with solvency. |
The impact of this risk is the threatening company's feasibility. |
Constant financial losses along the momentous operational and capital projected desires for the company. |
Likely |
The control measure for the overcoming of this risk can be a strategic turnaround schedule that integrates project-based mitigation practice with targeted work areas. This control measure can proactively address the problems associated with decreasing costs; higher central costs; higher than predicted workforce costs, and more. |
There can be execution of a strategic plan with an emphasis on income growth prospects. Moreover, constant and proactive mitigations endure to be investigated by the business. Besides, the action that can be taken includes the surged emphasis on the General Manager's role responsibilities in handling loss and profit underpinned by comprehensive centralized support, refined analytics, and fiscal insight competency. Moreover, there should be the subsequent provision of cross-home benchmarking on selected financial performance measures to leverage perceptions around the portfolio (Weech-Maldonado et al. 2019). |
# 5: Loss of privacy |
This risk is associated with unwillingness to access an individual's |
The impact of privacy risks associated with information sharing entails |
The consequences entail that it influences unreasonably impacting existing residential amenities. |
Likely |
The control measure can be designing of excellence by careful address of the maintenance of neighboring property's sale. There might be no examples to overlook stemming from such development. The execution of screen planting might not just improve the maintenance of privacy but also lead to successful auditory treatment. |
The Blue Haven aged care service needs to obey strict requirements when it gathers individual information and when it reveals health information. Also, the company needs to follow privacy legislation and rules set in laws like the Privacy Act. Constant training and awareness should be imparted by the governing body to deal with privacy-related issues. The aged care service should advocate for consumers in conversing consent around personal space (Soar et al., 2007). |
Australian Government (2023 a). Blue Haven Bonaira 0094. Available at https://www.agedcarequality.gov.au/services/blue-haven-bonaira-0094 Accessed on 25 September 2023
Australian Government (2023 b). Blue Haven Bonaire. Available at https://www.myagedcare.gov.au/find-a-provider/aged-care-homes/1209863 Accessed on 25 September 2023
Carnevale, J. B., & Hatak, I. (2020). Employee adjustment and well-being in the era of COVID-19: Implications for human resource management. Journal of Business Research, 116, 183-187.
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Eagar, K., Westera, A. B., Snoek, M., Kobel, C., Loggie, C. L., & Gordon, R. (2019). How Australian residential aged care staffing levels compare with international and national benchmarks.
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Erfani, A., Ma, Z., Cui, Q., & Baecher, G. B. (2023). Data-Driven Evaluation of Project Risk Registers. In Geo-Risk 2023 (pp. 152-160).
Henderson, J., & Willis, E. (2020). Chapter twelve: the marketization of aged care: the impact of aged care reform in Australia. Navigating private and public healthcare: experiences of patients, doctors, and policy-makers, 249-267.
Imaginário, C., Rocha, M., Machado, P., Antunes, C., & Martins, T. (2020). Functional capacity and self‐care profiles of older people in senior care homes. Scandinavian Journal of Caring Sciences, 34(1), 69-77.
Jayakumar, V. (2023). Australian aged care business models, service providers’ governing board characteristics and service quality: an empirical analysis (Doctoral dissertation, RMIT University).
Kiama Municipal Council (2023). Agendas & Minutes. Available at https://www.kiama.nsw.gov.au/Council/Council-meetings/Agendas-Minutes Accessed on 25 September 2023
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Waling, A., Lyons, A., Alba, B., Minichiello, V., Barrett, C., Hughes, M., ... & Edmonds, S. (2019). Experiences and perceptions of residential and home care services among older lesbian women and gay men in Australia. Health & social care in the community, 27(5), 1251-1259.
Weech-Maldonado, R., Pradhan, R., Dayama, N., Lord, J., & Gupta, S. (2019). Nursing home quality and financial performance: Is there a business case for quality? Inquiry: The Journal of Health Care Organization, Provision, and Financing, 56, 0046958018825191.
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