Global Journal of Commerce & Management Perspective
Open Access

Policy Management

Policy management is the process of creating, communicating, and maintaining policies and procedures within an organization. An effective policy management system can mitigate risk in two ways. First, it makes policies more quickly accessible to direct care staff, guiding care and safety decisions. Second, it can protect an organization from litigation by staying up to date on accreditation standards and creating an audit trail in the case of legal action. Because the process of managing policies can be expensive and time consuming, hospital boards should make the implementation of an efficient policy management system a priority. A comprehensive and well-managed set of policies can support GRC activities by communicating boundaries and expectations, establishing a culture of compliance within the organization, protecting the organization from litigation, and helping achieve the organization’s objectives.