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WHDL - 00015506
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Description / Abstract
It is easy for an organization to get behind in its financial process and complete the work before payment is received and sometimes even before contracting formally. A business would benefit from clear expectations, including periodic financial packages, a preapproval document for scope changes, and clear delegated authority for the team regarding work ahead, approvals, and contracting. Clear, proactive communication and positive relationship management are crucial to mitigating the risk. These risk mitigation steps are necessary during the contractual review process. Proactivity is even more critical in an industry such as contract research, where regulatory and ethical obligations like patient safety may override business decisions.
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File Size Small - 296 KB
Keywordsbowtie risk analysis, cashflow, clinical contracts, contract terms, days sales outstanding, DSO, financial packet, patient safety, risk majeure, risk mitigation, risk cycle
Degree AwardedDoctor of Business Administration
Awarding InstitutionIndiana Wesleyan University
Supervisor or ChairDr. Shelley Webb
Peer Reviewed?Yes
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Scholar-Practitioner Executive Summaries
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