Return on Investment: Post-implementation Audit Phase 4 Paper
Question Description
Phase 4 Assignment:
This week’s assignment is the fourth short paper component of our ROI project. The focus of this week’s writing will be to consider the value and steps necessary in preparing a “look back analysis” or a post implementation audit on the particular project that a ROI for both “hard and soft” information that has been prepared (usually prepared 8 to 12 months after the project is up and running). The purpose of the review is to determine if the information initially submitted was correct and the predicted outcomes occurred and what specific lessons can be learned to improve the analysis. To complete this review you will need to create a scenario of an outcome and apply the information outlined in the assignment. Please see the attached two reference sources for examples of this process.
Eight steps for a successful post-implementation audit. (2003, October 01). CIO,
https://www.cio.com/article/2441926/eight-steps-for-a-successful-post-implementation-audit.html
Levinson, M. (2003, October 01). How to conduct post-implementation audits. CIO,
https://www.cio.com/article/2441675/how-to-conduct-post-implementation-audits.html

Please read my Phase 1, 2 and 3.
My work – Understanding Return on Investment (ROI) – Phase 1
Hello, ladies and gentlemen. My name is (“¦”¦”¦”¦.). I work as a Health Administration Services Manager with the well-known accounting firm, Pennypacker and Vandelay, Welcome to the first phase of my six presentations. The topic I will be presenting on is Return on Investment (ROI). This will involve an overview and how it impacts Electronic Health Records at Harris Memorial Hospital and the Harris Community Foundation. Shall we get started?
Overview
ROI is a metric that organizations use to measure their financial gain, return or loss form an investment. ROI applies by comparing the amount of money the company invests and the amount of money it gains/saves from the program. Value added Investment and Return on invest are now clearly applied by many companies. ROI is measured by monetary metrics while you VOI is measurement of a multitude of metrics.
History
The DuPont innovation of ROI calculations acts as one of the most significant turning points in modern accounting and management. DuPont integrated financial accounting, capital accounting, and cost accounting as early as the 1920’s. For instance, DuPont measured its assets at their gross book value as opposed to net book value which became the identity of DuPont. The basic ROI formula is: Net Profit / Total Investment * 100 = ROI. What makes DuPont ROI calculations effective is that it focuses on net return rather than net profits. This applies in instances where one wants to measure how the division manager uses the property of the company to generate profits.
The Role of ROI on Electronic Health Records (EHR)
As we all know Electronic Health Records (EHR) use both ROI and VOI metrics. Return on investment and value on investment involves measurement of outcomes. Measurement of investment is an important metric in measuring of VOI and ROI. The benefit of EHR programs is usually measurable in a tangible way. Return on investment is a metric which is used in measurement of financial gain in EHR programs. The metric checks return or loss from investment.
There is a comparison on the amount of money that is invested in a program and the amount of money gained. VOI on the other hand is a measure of gains in a different way than ROI. Value on investments addresses tangible and intangible benefits that come from wellness programs. The specific issues analyzed by the metric include the health impact on the overall health of employees and the level of job satisfaction among employees
ROI and VOI have both advantages and disadvantages depending on the application. The main advantage of using value on investment is that it analyzes both tangible and intangible gains unlike ROI which just focuses on returns on investment. ROI is on the other hand more specific than value on investment metrics. Another advantage of VOI is that it takes a shorter period of time.
Hard analysis
Hard analysis involves measurements that are easy to quantify and have a great possibility of leading to success. In the case of Harris Memorial Hospital and the Harris Community Foundation., a training analysis will lead to identification of gaps that need to be addressed. The training strategy in this case involves provision of job aids, coaching of employees, and leadership training to ensure that there is effective succession planning.
Soft analysis
Soft analysis in the other hand incorporates measurements that are not easy to quantify with immediate financial goals. There are potential challenges that the managers and owners of the business in this case could face while addressing organizational performance. The challenges in this case include communication