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Risks And Rewards

 Read the material at the sites listed in the Week 4 Lessons

https://www.mindtools.com/pages/article/newTMC_07.htm
http://www.maxwideman.com/pmglossary/PMG_R05.htm#Risk%20and%20Contingency%20Management
Risk terms explained here: http://iveybusinessjournal.com/publication/the-role-of-leadership-in-managing-risk/
Complete a 2-4 page paper discussing the risks and rewards to your client as they relate to the management problem in the attached word docs.
 

Submission Instructions: Upload the paper to your Week 4 Assignment folder.

When reflecting on business risks for the identified solutions, here are some things to consider for your client: 

· ·      What changes of roles and responsibilities would be required with personnel changes?

· ·      What is the succession plan?

· ·      What new systems or skills will employees need to gain?  What is the financial cost?

· ·      What interdepartmental changes need to be made (manufacturing, sales, delivery, financial and IT)?

· ·      Would communication barriers increase or decrease?

· ·      How would the proposed solutions impact clients?  Would it increase their engagement level?

· ·      Would the changes impact the brand or reputation in the industry?

While these are not all-inclusive questions, they can provide guidance and clarity when developing the Risk Assessment.  Risk analysis should be completed for each proposed solution.

 

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