Essay On Clinical Systems University Essay Example

Introduction

Clinical systems refer to tools that can increase the quality of patient care and safety, the efficiency of healthcare delivery, and the communication between healthcare workers (Awad et al., 2021). As healthcare providers work to enhance the quality of treatment and patient outcomes, the use of clinical systems is growing in popularity. These systems have increased in the nursing field, resulting in better patient care, improved communication between healthcare professionals, and the ability to monitor patients’ health status online (Sutton et al., 2020). In order to understand how clinical systems affect outcomes and efficiencies in the context of nursing practice and healthcare delivery, this paper will synthesize and summarize the findings from four peer-reviewed articles. The chosen research articles offer insight into the use of telehealth nursing, online medical records, telehealth for home-care patients with long-term conditions, and telehealth for patients with long-term conditions.

Annotated bibliography

McFarland, S., Coufopolous, A., & Lycett, D. (2021). The effect of telehealth versus usual care for home-care patients with long-term conditions: A systematic review, meta-analysis and qualitative synthesis. Journal of Telemedicine and Telecare, 27(2), 69–87.

This article explores the impact of telehealth versus conventional therapy for patients receiving home care for chronic conditions. The authors carried out a systematic review, meta-analysis, and qualitative synthesis of telehealth studies to ascertain the impact of telehealth. The results showed that telehealth enhanced patient outcomes by lowering hospital admissions, enhancing patient self-management, and raising the standard of living. The use of telehealth also increased efficiency by lowering the amount of time needed for administrative duties and raising the standard of care. However, the authors also noted several challenges and factors to consider when implementing telehealth services, such as the requirement for sufficient assistance and training for medical professionals. The authors concluded that, when used correctly, telehealth can be an efficient intervention for home-care patients with chronic conditions and can result in better patient outcomes. According to the authors, telehealth can offer long-term condition patients receiving home treatment a variety of advantages. These advantages include improved patient engagement in treatment, better chronic condition monitoring, and improved patient and provider communication. Telehealth can also improve access to a wider variety of services while reducing the need for travel and waiting times (McFarland et al., 2021).

Additionally, telehealth can improve care quality by giving patients more thorough information about their situation and available treatments while lowering the number of hospital visits and other healthcare facilities. However, giving medical workers the proper training and support is crucial to implement telehealth services successfully. By doing this, healthcare professionals can better comprehend and apply telehealth technology to deliver high-quality care for patients who require home care due to chronic illnesses.

Negash, S., Musa, P., Vogel, D., & Sahay, S. (2018). Healthcare information technology for development: Improvements in people’s lives through innovations in the uses of technologies. Information Technology for Development,24(2), 189-197.

This article discusses the potential of healthcare information technology (HIT) to enhance healthcare efficiency and outcomes for individuals in developing nations. HIT refers to the application of digital technologies to enhance the provision of healthcare services. The authors identified the influence of HIT on different healthcare outcomes after conducting a systematic review of HIT studies (Negash et al., 2018). They highlight several cutting-edge HIT applications, including using mobile technologies to give health information, telemedicine to deliver care remotely, and electronic health records to enhance data collection. They discovered that HIT improved patient outcomes by lowering medical mistakes, enhancing clinical judgment, and enhancing communication between healthcare workers. HIT also improved efficiencies by reducing the time needed for administrative duties and raising the standard of care. The authors also review some possible drawbacks of utilizing HIT in developing nations, such as limited access to digital infrastructure, a shortage of skilled workers, and the requirement for secure data transmission. Finally, they emphasize the policy’s value and planning in ensuring the efficient application of HIT and maximizing its capacity to enhance people’s lives.

Redelmeier, D., & Kraus, N. (2018). Patterns in patient access and utilization of online medical records. Journal of Medical Internet Research,20(2), e4.

This article analyzes patterns in patient access and utilization of online medical records (OMRs). The authors surveyed patients to determine their use of OMRs and their impact on patient outcomes and efficiencies. The study found that the most active patients tended to be younger, male, and more likely to have chronic diseases. The findings also revealed that access to online medical records was higher for those living in urban areas and those with higher education levels. They also found that patients who used OMRs were more likely to engage in preventive care and had better control of their chronic conditions (Redelmeier, D., & Kraus, N. (2018). Additionally, the use of OMRs resulted in improved efficiencies by reducing the number of unnecessary office visits and reducing the time required for administrative tasks. The authors conclude that further research is needed to understand better the patterns of patient access and utilization of online medical records and to identify potential strategies to increase patient usage.

Mataxen, P. A., & Webb, L. D. (2019). Telehealth nursing: More than just a phone call. Nursing,49(4), 11-13.

In order to increase patient outcomes and operational effectiveness, this article examines the use of telehealth nursing. With the help of telehealth nursing, nurses can offer care to patients who cannot travel, have restricted access to medical services, or have other mobility-related concerns. Teleconferencing, video conferencing, and remote patient monitoring are just a few of the technologies covered in this essay used in telehealth nursing (Mataxen & Webb, 2019). Additionally, it discusses nurses’ duties in telehealth nursing, including educating patients, making recommendations, conducting assessments, and triaging patients. After reviewing the available literature, the authors determined the effects of telehealth nursing on different medical outcomes. They discovered that telehealth nursing enhanced patient outcomes by delivering timely interventions, lowering hospital readmissions, and enhancing patient satisfaction. The use of telehealth nursing also increased efficiency by lowering the amount of time needed for administrative duties and raising the standard of care. The article also offers tools and advice for nurses who want to work in telehealth nursing.

Conclusion

The four peer-reviewed articles examined in this study offer evidence supporting the application of clinical systems to enhance patient outcomes and productivity. It has been demonstrated that healthcare IT, electronic medical records, telehealth nursing, and telehealth all improve patient outcomes by lowering medical errors, enhancing clinical decision-making, delivering prompt interventions, lowering hospital readmissions, enhancing patient self-management, and enhancing patient satisfaction. Additionally, using clinical systems has increased efficiency by lowering the time needed for administrative duties and enhancing patient care. These studies show that clinical systems significantly affect nursing practice and healthcare delivery. The findings emphasize the need for ongoing investment in clinical systems to enhance patient outcomes and operational effectiveness, especially in developing nations and in patients receiving home care for chronic conditions. Clinical systems should be incorporated into nursing practice and healthcare delivery to improve patient-centred care, lower healthcare costs, and enhance healthcare outcomes. The reviewed papers do have some limitations, though. First, the fact that the studies were carried out in various contexts and with various populations could limit the generalizability of the findings. Second, the statistical power of the results may be impacted by some studies’ small sample sizes. Finally, some studies are needed to assess how clinical systems affect patient results and productivity over time.

References

Awad, A., Trenfield, S. J., Pollard, T. D., Ong, J. J., Elbadawi, M., McCoubrey, L. E., … & Basit, A. W. (2021). Connected healthcare: Improving patient care using digital health technologies. Advanced Drug Delivery Reviews178, 113958.

Mataxen, P. A., & Webb, L. D. (2019). Telehealth nursing: More than just a phone call. Nursing,49(4), 11-13.

McFarland, S., Coufopolous, A., & Lycett, D. (2021). The effect of telehealth versus usual care for home-care patients with long-term conditions: A systematic review, meta-analysis and qualitative synthesis. Journal of Telemedicine and Telecare, 27(2), 69–87.

Negash, S., Musa, P., Vogel, D., & Sahay, S. (2018). Healthcare information technology for development: Improvements in people’s lives through innovations in the uses of technologies. Information Technology for Development,24(2), 189-197.

Redelmeier, D., & Kraus, N. (2018). Patterns in patient access and utilization of online medical records. Journal of Medical Internet Research,20(2), e4.

Sutton, R. T., Pincock, D., Baumgart, D. C., Sadowski, D. C., Fedorak, R. N., & Kroeker, K. I. (2020). An overview of clinical decision support systems: benefits, risks, and strategies for success. NPJ digital medicine3(1), 17.

Cohort Study On COVID-19 Vaccination, Fertility, And Treatment University Essay Example

Learning new languages, becoming familiar with the terminology, and comprehending intricate procedures are necessary for a medical specialty. You become increasingly adept at communicating with people in your academic community as you advance in your medical study, to the point where you utilize shorthand. The current COVID-19 epidemic has been one of the most significant events on a global and medical scale. Many unanswered issues exist about the pandemic’s effects on vaccination rates, reproduction, and other medical interventions. However, the ability to explain terms in detail demonstrates the depth of comprehension and will serve you well in any profession. Communicating the effects of COVID-19 immunization on fertility and treatment to patients and coworkers is a crucial skill for any medical professional. Thus, this essay will outline and clarify the cohort study method on the effects of the COVID-19 vaccine, fertility, and therapy by offering concrete examples and complete explanations for a lay audience.

A “cohort study” is an epidemiological study that follows the same people over time to see if there are any changes in their health (a cohort). Cohort studies are used in the medical sciences, and most agree they are essential. This is mainly because they let researchers keep track of people’s health over time and compare it to those who did not have the same factors or interventions. People who got the COVID-19 vaccine and people who didn’t could be compared in a cohort study.

To back up my claims, I plan to look through academic databases like Google Scholar, PubMed, Embase, CINAHL, and MEDLINE for articles, papers, and studies that look at the effect of COVID-19 vaccinations on human fertility (Gencer et al., 2022). The results of this study show that immunizing people against COVID-19 won’t make any difference to their immunity. Journals and studies show that the COVID-19 vaccine does not affect a person’s ability to have children. The COVID-19 vaccine did not affect sperm parameters like sperm concentration, sperm motility, and sperm volume. Still, both vaccinated and untreated women had the same reproductive health. Most of my research indicates that the COVID-19 vaccine has no negative impact on the quantity or quality of sperm or eggs produced by either gender.

In medicine, the importance of this subject cannot be stressed to a sufficient degree. Because the COVID-19 pandemic has affected millions of individuals worldwide, immunization is an essential strategy for stopping the further spread of the disease. Regarding fertility and the COVID-19 therapeutic efficacy, the vaccination has been met with skepticism by those who have received it (Wesselink et al., 2022). Cohort studies may provide crucial insights into these concerns, assisting policymakers in making educated decisions on treatment and immunization.

Several criteria, such as timeliness, applicability, authority, accuracy, and intent, were used to evaluate these sources and determine their dependability and credibility. The Cohort Study on COVID-19 Vaccination, Fertility, and Therapy is a reliable and relevant source of information for academics and healthcare practitioners interested in this topic since it meets the criteria of the CRAAP evaluation technique. The fact that the research study was published in 2021 in a reputable publication suggests that it is pertinent to the current research topic. The study’s authority is established by the qualifications and expertise of the professionals who participated in it, and its rigorous scientific methodology and lack of biases confirm its authenticity. Any potential conflicts of interest are identified, and the study’s goal is stated unequivocally. Because of the CRAAP criteria, the Cohort Study on COVID-19 Vaccination, Fertility, and Therapy can be recognized as a reliable and relevant source of knowledge on this subject.

Receiving a COVID-19 infection-protective vaccine is referred to as vaccination. The development of a COVID-19 vaccine is currently underway. The COVID-19 vaccination will eventually be available to people all around the world. Concerns have been raised about how the COVID-19 vaccination might impact a woman’s capacity to conceive because it has been demonstrated to alter the reproductive system. During a cohort trial, scientists will be able to discover more about the COVID-19 vaccine’s effects on fertility and other health outcomes.

The COVID-19 pandemic has severely impacted numerous countries’ healthcare systems. As a result, many individuals fall ill, and some even die. Many countries’ regulatory agencies have approved emergency vaccinations developed in response to the outbreak. Even though it has been proved that the vaccine reduces the chance of serious illness and hospitalization, some people refuse to get the vaccine out of worry that it will make it more difficult for them to have children in the future. The COVID-19 vaccine has various adverse health effects, including irregular menstrual cycles and reduced fertility (Hasdemiret al., 2023). Despite the absence of evidence, many people demand an investigation into how the vaccine may affect fertility.

Most research on the COVID-19 vaccine’s effects is still centered on fertility, or the ability to conceive and bear children. Despite a lack of proof, the COVID-19 vaccine has been associated with decreased fertility. A cohort study is being conducted by researchers to learn more about how the COVID-19 vaccine affects fertility and other health outcomes. The effects of the COVID-19 vaccine on fertility would need to be studied utilizing a cohort of vaccine recipients. Without following menstrual cycles, hormone levels, and other markers, it would be difficult to determine whether immunization affected reproductive health. Antiviral medicines and other COVID-19 therapies will also be tested on people who have received the vaccine. These tests will be done on people who have received the vaccine.

For instance, a cohort study followed a group of females who had received the COVID-19 vaccine and observed their menstrual cycles. It was published in Fertility and Sterility (Llavanera et al.,2023). The study’s results showed that receiving the vaccine had no appreciable impact on fertility or menstrual periods. Another study, published in the Journal of the American Medical Association, monitored a group of COVID-19 patients receiving redeliver treatment (Gul et al.,2023). According to the study’s findings, remdesivir effectively reduced the length of patients’ stays in the hospital and improved their clinical outcomes.

A cohort study on COVID-19 immunization, fertility, and therapy can provide critical insights into how the vaccine affects reproductive health, which is one of the vaccine’s many benefits. The study’s results can alleviate worries regarding the effect of vaccination on reproductive outcomes and give evidence to support vaccination recommendations. The cohort study significantly affects COVID-19 immunization, fertility, and treatment. First, it can help reveal details about the COVID-19 vaccine’s effectiveness and safety in affecting fertility and other medical consequences. Second, it can inform medical professionals and policymakers about the most effective COVID-19 therapies and treatments. By influencing vaccination policies and the management of COVID-19 infections among people who have received vaccines, the study may contribute to resolving a more significant public health challenge. The findings of this study have the potential to alter public health policies and recommendations, particularly regarding administering vaccines to groups of individuals at risk of having reproducing issues.

Treatment refers to any of several possible medical interventions for persons with COVID-19. Remdesivir is a medication that is utilized in the treatment of COVID-19. The cohort trial tracks the health of COVID-19 patients treated with remdesivir (Dobrowolska et al., 2023). It is challenging to undertake a cohort study to assess the impact of COVID-19 vaccination on fertility and treatment. A formidable challenge is obtaining a large enough pool of willing participants to immunize against the disease. When there is a shortage of vaccines and some populations are given a higher priority for immunization than others, this cannot be easy. The requirement for complete assurance in the obtained data presents another difficulty. The study would rely on participants’ self-reports of menstrual cycles and other reproductive health indicators, which could be biased or erroneous. This challenge can only be conquered if the research makes use of tried-and-true methods for the collecting of data and the measurement of variables.

To sum up, the cohort research on how COVID-19 immunization, fertility, and therapy affect people’s health is a valuable resource for learning about the efficacy and safety of the vaccine and other treatments and guiding medical actions for people who have COVID-19. Researchers can gain essential insights into the potential effects of COVID-19 and educate medical professionals and policymakers on the best treatments and interventions for those afflicted through thorough observation and analysis.

References

Dobrowolska, K., Zarębska-Michaluk, D., Brzdęk, M., Rzymski, P., Rogalska, M., Moniuszko-Malinowska, A., … & Flisiak, R. (2023). Retrospective Analysis of the Effectiveness of Remdesivir in COVID-19 Treatment during Periods Dominated by Delta and Omicron SARS-CoV-2 Variants in Clinical Settings. Journal of Clinical Medicine12(6), 2371.

Gencer, H., Ozkan, S., Vardar, O., & Sercekuş, P. (2022). The effects of the COVID-19 pandemic on vaccine decisions in pregnant women. Women and Birth, 35(3), 317-323.

Gul, Z. G., Sharbaugh, D. R., Guercio, C. J., Pelzman, D. L., Jones, C. A., Hacker, E. C., … & Davies, B. J. (2023). Significant Variations in the Prices of Urologic Procedures at Academic Medical Centers 1 Year After Implementation of the Price Transparency Final Rule. JAMA Network Open6(1), e2249581-e2249581.

Hasdemir, P. S., Senol Akar, S., Goker, A., Kosova, F., Ucar, D., Ozalp Ates, F. S., & Akcali, S. (2023). The effect of COVID-19 vaccinations on the menstrual cycle and serum anti-Mullerian hormone levels in reproductive-age women. Human Fertility, 1-9.

Llavanera, M., Delgado-Bermudez, A., Ribas-Maynou, J., Salas-Huetos, A., & Yeste, M. (2023). Reply of the Authors: A systematic review identifying fertility biomarkers in semen: a clinical approach through Omics to diagnose male infertility. Fertility and Sterility119(1), 159.

Wesselink, A. K., Hatch, E. E., Rothman, K. J., Wang, T. R., Willis, M. D., Yland, J., … & Wise, L. A. (2022). A prospective cohort study of COVID-19 vaccination, SARS-CoV-2 infection, and fertility. American journal of epidemiology191(8), 1383-1395.

Communication During Crisis University Essay Example

Executive Summary

The case study explains one of Zinthro’s projects, the ShopCart, where a calculation error could cost Sharika Charlton her job and company. Charlton is one of the executive members whose career growth has been outlined. She portrays exemplary leadership skills that land her in different opportunities despite the challenges faced by various workers. The company is working for a government client where the company is given a contract to maintain all hardware and software implemented for the client, including; equipment repair or replacement, fixing software glitches and anything else needed to keep the solution running. Both internal and external providers work on the plan.

Like any other company, Zinthro divides its work, where one division focuses on hardware maintenance while the other is responsible for software issues. Different external stakeholders were on board to help provide support for specific aspects of the solution. The case study shows how coordinating with the clients in a certain project is the greatest builder for success. Charton and Villgas, a contactor on the client’s side, work together to solve problems with good and clear communication lines easily. A tiger team from one of the divisions comprising an executive management group works on seeking, bidding, and closing government contracts, landing the company different contracts. The team is supervised by Marchenko, who respects the members. The complex ShopCart contract is earned after a few weeks of the tiger team’s work on developing a high-level technical solution. The team also had to come up with the aggregated cost of the project, which meant they had to overwork to make it on time which was quite a challenge.

The company was awarded the fixed-price contract for the ShopCart project. The project began on January 2, 2019, with a technical staff of thirty project team members that increased to fifty-five by June 2019. With the complexity from a contracting perspective, a second program manager came on board to help Anderson manage the overall operations, which brought Charlton on Board. Charlton reviewed documents with lots of collected data to become familiar with the data of the project, where she figured several technical and business issues, low staff planning, stretched resources from the request from the client’s changes on staffing (subcontract withdrawal), concerns on the proposed solutions, contract modifications which brought in new contractual documents that added up on the already heavy workload for Charlton. All these challenges came from miscalculation errors, poor budgeting, and poor data compilation after sourcing. After revising the project cost, Charlton came up with a budget of $75 million, which was more than double the original cost estimate of $32 million. A project estimated for a $ 13 million profit would be a $30 million loss if the mistakes were not rectified. The financial challenge being the major crisis, Charlton had to bring up the issues to the team to protect her career and colleagues despite the possibility of a significant backlash.

Immediate Issues

As a project manager, you can better prepare your team for success by anticipating potential obstacles. Knowing the risks involved in a project helps you set achievable goals and keep your team on track. This segment outlines the immediate issues visible from the case study. One of the immediate issues is needing more skilled team members (Simushi et al., 2020). Project teams’ success is directly proportional to the quantity and quality of their available labour force, just as a chain is only as strong as its weakest link. Right from. At the start of the project implementation, there is a low count on the staff, which is later in the case study considered a “bare-bones model.” This has led to the changes of bringing another project management on board who, after reviewing the whole project, highlights that the project needs more staff members.

The second issue is stretched resources which is visible in several instances in the case study. The need for more available resources is a source of resource risk. Time, knowledge, money, and equipment are all examples of resources. A project manager’s duties include securing the necessary materials and informing the team of their progress. Charlton receives a call from Zhang, the maintenance team leader who, after looking at the proposal, finds out that there need to be more resources to cater for all the implementations. After Charlton reviewed the proposed budget and costs of the materials and staff needed, she discovered that the project needs more than double the estimated amount.

There are also adjustments to how things work. Risks associated with day-to-day operations include unanticipated shifts in team positions, new management, or different procedures that must be learned and implemented. In this case, judging from the complexity of the project implementation, the company had to add a second operations manager to help oversee the whole project. The government client also makes some operations change requests that lead to Charlton receiving more contractual documents that add to the heavy workload. Distractions, altered processes, and pushed-back schedules are all possible results of such occurrences.

Another area for improvement in managing a project is a deadline that is so tight that it compromises quality. Any competent project manager knows the team’s strengths and weaknesses and uses this information to negotiate a workable schedule by setting deadlines and assigning tasks in order of importance. In agile project management, stakeholders collaborate to determine the sprint’s velocity and the work rate. This is accomplished while the project is still in the planning stages. This prevents uncontrolled growth of the project’s scope (scope creep) during implementation and allows for more or less flexible schedules. In the case study, the very first mistake was a shallow timeline that led to many errors in budgeting.

Lastly, scope creep is also an issue in the case. Any project will inevitably experience some degree of scope creep. While there may be some advantages, the drawbacks usually outweigh them. In 2017, 52% of teams reported experiencing scope creep, which is expected to rise in the future. One of the main issues managers and the project team face is dealing with clients that need clarification on what they want and have broad criteria. In the case study even when the project is progressing, the government client still requests to make operational changes.

Root problems

Fixed-price contract projects carry a higher degree of uncertainty than other projects. For instance, the agreed-upon price for such a project is usually not subject to modifications depending on the seller’s subsequent expenditures incurred in carrying out the work. If the proposal is bid appropriately, the work is managed well, and adjustments are processed as contract updates, the rewards for managing a fixed-price project can be substantial. Significantly, in a fixed-price contract project, the client pays a predetermined amount for certain services. The service provider will only pay extra if it takes more time or money than expected to complete the work scope and produce the deliverables. The provider risks spending more money than expected to finish the project. If the service provider starts working after the agreed-upon project goals and deliverables have been completed and accepted, you may violate the terms of the agreement.

Secondly, enough time is required to complete the Budget. In a disorganized setting, where multiple budget drafts may be necessary, the budgeting process can last long. Time spent is reduced when an organized budgeting process is in place, workers are used to it, and budgeting software is employed. If company conditions are volatile, the budget model must be updated frequently, which can add significant extra labour. In this case, budgeting is the root cause of most immediate cases. According to the review from Charlton, it was done in haste to the point of miscalculation and unpriced resources there after the follow-up. The budget hikes double the set prices.

Decision Criteria

The criterion for making a call should be quantifiable and relevant to the issue at hand. One should be able to compare items based on seemingly intangible qualities. For instance, the “user-pleasant” quality is not a measurable attribute of the typical software created for a government client. According to the client’s business needs, one can either compile a list of the features that make the application user-friendly (Dixit, 2020) or test out the different options and score them according to how “user-friendly” they are. Case studies typically use criteria such as project cost, ease of modification/scalability/flexibility, and staff adequacy as decision-making tools. The case study shows the project’s complexity; it needs additional staff to keep it running. The cost is also considered, seen from the budgeting mistakes and miscalculation errors. The ease of modification is seen from the client requesting more operational cases, which is nearly impossible. The employees, however, are very few; therefore, more is needed for the project completion.

Alternatives

Identifying the project’s main outcome areas, also known as essential success elements in project management, is one approach project managers can use to rein in projects over budget. These are the “big-picture” tasks that must be accomplished on schedule and with good quality for the project to succeed (Arbuckle et al., 2021). Project managers might reshuffle priorities like pieces on a chessboard to make up for hiccups in the plan. This alternative has several benefits, including boosting communication, reducing risks, and promoting cost certainty. The pros include; the consumption of a lot of time, complexity and room for disagreement.

The second option is to inform customers and stakeholders about the budget overrun and the team’s plan for addressing it. This approach can lead to earlier risk detection, increased communication, and fewer misunderstandings. However, its effectiveness depends on the willingness of the project lead to enhance their skills and may require time and resources that could delay project completion (Arbuckle et al., 2021). Additionally, customers may be hesitant about new ideas despite the benefits of a fixed contract. Informing customers and stakeholders about a budget overrun and the team’s plan to address it has several benefits (Dixit, 2020). It allows for early detection of risks, increases communication and collaboration, prevents misunderstandings, and builds trust. However, there are also potential drawbacks, such as delayed project completion, resistance to change, negative impact on reputation, and loss of confidence. It’s important to weigh the pros and cons carefully and communicate the situation transparently and proactively.

An economical price adjustment can be proposed in a fixed-price contract to adjust the contract price based on specified contingencies such as changes in material or labour costs. This provides cost certainty and reduces the risk of budget overruns for both parties. However, it can be complex and require detailed calculations, increasing the administrative burden and contract finalization time (Simushi et al., 2020). Additionally, disputes and project delays may occur if the formula for calculating the adjustment needs to be clarified or there is a disagreement on how it should be applied. Furthermore, the clause may not cover unforeseen costs, limiting its effectiveness in providing complete cost certainty.

Recommendations

Proposing an economical price adjustment (EPA) can be the best solution because it allows adjustments to the contract price based on changes in economic conditions. In other words, an EPA clause can help to mitigate the risks associated with unforeseen events, such as inflation or changes in the cost of labour or materials, which can cause project costs to exceed the original estimate (Tate, 2019). With an EPA clause, the contractor may be able to absorb the cost overruns, which can be detrimental to their bottom line. In such cases, the contractor may be forced to cut corners or compromise on quality to keep costs under control, which can ultimately affect the project’s success. In contrast, an EPA clause allows adjustments to be made to the contract price in response to changes in economic conditions, helping to ensure that both the contractor and the client are protected from the risks associated with cost overruns (Cavalieri et al., 2019). This can lead to a more successful project outcome, as the contractor can maintain the necessary resources and quality standards without compromising the project’s objectives.

Implementation

To mitigate project overruns and their negative impact on budgets, consider implementing economic price adjustment (EPA) contract clauses. To do so, define the EPA clause with a legal expert and specify its formula and triggers. Determine the trigger based on events that increase project costs, and design the adjustment formula to compensate contractors fairly (Cavalieri et al., 2019). Define the baseline from which adjustments will be made and monitor the EPA clause’s effectiveness by tracking triggers and calculating adjustments. If adjustments are made frequently, consider re-negotiating the contract to ensure its financial viability. Implementing an EPA clause can ensure fair compensation for contractors and mitigate project risks.

References

Arbuckle, E. J., Binsted, M., Davies, E. G., Chiappori, D. V., Bergeron, C., Siddiqui, M. S., … & Macaluso, N. (2021). Insights for Canadian electricity generation planning from an integrated assessment model: Should we be more cautious about hydropower cost overruns? Energy Policy, 150, 112138. https://doi.org/10.1016/j.enpol.2021.112138

Cavalieri, M., Cristaudo, R., & Guccio, C. (2019). Tales on the dark side of the transport infrastructure provision: a systematic literature review of the determinants of cost overruns. Transport reviews, 39(6), 774-794. https://doi.org/10.1080/01441647.2019.1636895

Dixit, V. (2022). Risk assessment of different sourcing contract scenarios in project procurement. International Journal of Construction Management, 22(8), 1537-1549. https://doi.org/10.1080/15623599.2020.1728610

Simushi, S., & Wium, J. (2020). Time and cost overruns on large projects: Understanding the root cause. Journal of Construction in Developing Countries, 25(1), 129-146. https://doi.org/10.21315/jcdc2020.25.1.7

Taye, G. (2019). Simulation Modeling of Cost Overrun in Construction Project in Ethiopia. International Journal of Recent Technology and Engineering, 8(4), 12685-12691. DOI:10.35940/ijrte.D9121.118419