Why is risk analysis in healt IT an important part of the planning phase?

Respond to the following in a minimum of 175 words: 

• Why is risk analysis in health      IT an important part of the planning phase?  
• What is the difference between      quantitative risk and qualitative risk analysis?  
• Why do you need to measure      both?  
• Please provide examples of each      type of risk analysis.

Post 2 100 words replies to classmates or your faculty member. Be constructive and professional.

Lindsey Simpson- Risk analysis is a very critical part of the planning phase in healthcare IT. Risk analysis helps identify potential threats and vulnerabilities that could compromise the integrity, availability, and confidentiality of health information. By quantifying these risks, organizations can strategically plan to mitigate them. The main difference between qualitative and quantitative risk analysis is their approach to the process. Qualitative risk tends to be more subjective and it focuses on identifying risks to measure both the likelihood of specific risk event occurring during the project life cycle and the impact it will have on the overall schedule should it hit. While Quantitative risk are objective, they use verifiable data to analyze the effects of risk in terms of cost overruns, scope creep. resource consumption, and schedule delays. Its important to measure both quantitative and qualitative risk because Quantitative risk analysis assigns numerical values to risks, allowing for precise measurements and statistical evaluation. While Qualitative risk analysis evaluates subjective qualities such as severity and likelihood using description terms. when it comes to risk management the quantitative approach is better for managing the risk of modern projects.

Anitre High- Top of Form

Risk analysis is super important in the planning stage of any health IT project because it helps figure out what could go wrong, how likely it is to happen, and what kind of damage it could cause. Hospitals and healthcare organizations deal with very private information like medical records and test results. If that information gets leaked or systems crash, it can seriously affect patient care and get the organization in legal trouble. By doing a risk analysis early on, the organization can fix problems before they happen and avoid bigger issues later. There are two main types of risk analysis: quantitative and qualitative. Quantitative is all about the numbers it looks at how much money a risk might cost and how likely it is to happen. For example, a hacker attack might cost $100,000 and has a 5% chance of happening each year. Qualitative is more general it looks at how serious a risk is using words like "low," "medium," or "high." For example, you might say there’s a high risk of someone accessing medical data because passwords are weak. You need both types because numbers help you plan your budget and resources, while general descriptions help you understand the big picture. Using both gives you a full view so you can make smarter decisions.

Assignment: In your fourth meeting with the CIO, she tells you she is considering outsourcing several critical IT functions.

Select 1 of the following critical IT functions for your presentation:

• Storage of medical images
• Support of desktop computers
• Support for the organization’s      local and wide-area data network.

Create an 8- to 10-slide Microsoft® PowerPoint® presentation for your stakeholders. Your presentation should focus on the chosen critical IT function in relation to:

• Why you consider      outsourcing 
• The advantages and disadvantages      of outsourcing  
• The role of information      technology in facilitating interdisciplinary communication in a health      care organization
• The information technology      organizational structures and functions for various types and levels of      health care organizations
• The process that is considered      when working with vendors

Cite at least 3 reputable references. One reference must be your textbook, Managing Risk in Information Systems. Reputable references include trade or industry publications, government or agency websites, scholarly works, or other sources of similar quality.