Common use of Implementation; Readiness Assessment Clause in Contracts

Implementation; Readiness Assessment. ‌ Insurer shall ensure all resources needed for a timely and complete implementation are available. Insurer shall provide a final implementation plan for approval to FHKC within five (5) Business Days of Contract execution. Insurer may submit the implementation plan in Microsoft Excel or Microsoft Project. At a minimum, the implementation plan shall include: a. Each task necessary to fully implement this Contract; b. The start and end dates for each task; c. Any task dependencies; d. Identification of key milestones; and e. The responsible Party for each task. If the submitted implementation plan is not subsequently approved by FHKC, Insurer shall have three (3) Business Days from notification of disapproval to submit a revised implementation plan for approval. Insurer shall be liable for financial consequences equal to one thousand dollars ($1,000) per Calendar Day the implementation plan is late. Financial consequences apply to each Calendar Day beyond the due date until provided to FHKC, inclusive of the date provided to FHKC. Financial consequences apply to the initial due date and to subsequent due dates should the implementation plan require revisions prior to FHKC approval and are limited to a total of fifteen thousand dollars ($15,000). Insurer shall submit an updated implementation plan on a weekly basis until implementation is complete. The required frequency of the updated implementation plan submission may be changed with approval or direction from FHKC. Changes to task due dates require written approval from FHKC. Financial consequences related to the weekly submissions of updated implementation plans shall be as described in section 27. Prior to the Effective Date, FHKC may conduct a readiness assessment to ensure Insurer’s readiness and ability to perform its obligations under this Contract. The readiness assessment may include, but is not limited to: a. Desk and onsite reviews of policies and procedures and related documents; b. Process demonstrations; c. System demonstrations; and d. Interviews with Insurer staff. Insurer shall participate and cooperate in any readiness assessment, including making documents and appropriate staff available. Insurer shall pass any readiness assessment to FHKC’s satisfaction by the dates established during the readiness assessment. Insurer shall be liable for financial consequences equal to three thousand dollars ($3,000) per Calendar Day, limited to a total of sixty thousand dollars ($60,000), for failure to pass. Financial consequences apply to each Calendar Day beyond the date Insurer failed to meet readiness assessment goals until Insurer is able to meet all readiness assessment goals and provide all services required under the Contract.

Implementation; Readiness Assessment. ‌ Insurer shall ensure all resources needed for a timely and complete implementation are available. Insurer shall provide a final implementation plan for approval to FHKC within five (5) Business Days of Contract execution. Insurer may submit the implementation plan in Microsoft Excel or Microsoft Project. At a minimum, the implementation plan shall include: a. Each task necessary to fully implement this Contract; b. The start and end dates for each task; c. Any task dependencies; d. Identification of key milestones; and e. The responsible Party for each task. If the submitted implementation plan is not subsequently approved by FHKC, Insurer shall have three (3) Business Days from notification of disapproval to submit a revised implementation plan for approval. Insurer shall be liable for financial consequences equal to one thousand dollars ($1,000) per Calendar Day the implementation plan is latelate . Financial consequences apply to each Calendar Day beyond the due date until provided to FHKC, inclusive of the date provided to FHKC. Financial consequences apply to the initial due date and to subsequent due dates should the implementation plan require revisions prior to FHKC approval and are limited to a total of fifteen thousand dollars ($15,000). Insurer shall submit an updated implementation plan on a weekly basis until implementation is complete. The required frequency of the updated implementation plan submission may be changed with approval or direction from FHKC. Changes to task due dates require written approval from FHKC. Financial consequences related to the weekly submissions of updated implementation plans shall be as described in section 27. Prior to the Effective Date, FHKC may conduct a readiness assessment to ensure Insurer’s readiness and ability to perform its obligations under this Contract. The readiness assessment may include, but is not limited to: a. Desk and onsite reviews of policies and procedures and related documents; b. Process demonstrations; c. System demonstrations; and d. Interviews with Insurer staff. Insurer shall participate and cooperate in any readiness assessment, including making documents and appropriate staff available. Insurer shall pass any readiness assessment to FHKC’s satisfaction by the dates established during the readiness assessment. Insurer shall be liable for financial consequences equal to three thousand dollars ($3,000) per Calendar Day, limited to a total of sixty thousand dollars ($60,000), for failure to pass. Financial consequences apply to each Calendar Day beyond the date Insurer failed to meet readiness assessment goals until Insurer is able to meet all readiness assessment goals and provide all services required under the Contract.