Competencies of Risk Managers Business Management Research Paper

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Business Management: Competencies of Risk ManagersProject management needs skillfully handle different tasks on time to validate risk prevention. Being an effective risk manager for project management requires mitigating and preventing risks to avoid losses in terms of funds and time. This paper aims to study the mini case studies of Global Green Books Publishing and identify the challenges and key competencies project managers as risk managers should have for effectively completing tasks and accomplishing goals.Three Challenges Project Managers Face as Effective Risk ManagersAfter reviewing the nine mini cases of the Global Green Books Publishing firm, the three major challenges that came out as critical are:· Project management: do not know what tasks should be completed at what time· Fast-paced working that is prone to mistakes and book publishing errors/misprints· Hiring part-timers: causing trouble due to their different arriving and leaving times, leading to confusion about what tasks they should perform and what would be their next taskProject management was the first and foremost issue for the managers since time schedules and misperceptions about unfinished tasks were causing trouble in finishing work on time. The delivery of ebook publishing to the customers was ineffective as careful and timely management of orders was missing.Due to several orders at a time, fast-paced working was required, for which initially, the firm thought hiring part-timers would be a good option. Although it was a good solution to manage the workload, the broken down tasks for a project of ebook printing were not handled efficaciously. The results were seen in the form of misprinted books and errors. The increased demand forced the undertrained part-timers to work above their efficiency levels. The returns and financial mishandling were the inevitable issues that were becoming a prominent challenge for the company to address.Moreover, managing time and resources effectively had to be contemplated intelligently by the project managers so that poo quality does not compromise the company’s image in the market. Continuous financial losses do not earn a company a name in the industry, and losing customers becomes unavoidable (Englert et al. 1519).The part-timers hired to handle the project were also a problem since some left at the last minute, leaving the work unfinished.

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The next ones who came did not know where to start and what to finish. It also showed the lack of professional upgraded project schedules, and deadlines were not completed on time. It could be deduced that it calls for effective leadership skills for the project managers who must delegate shrewdly and ensure that tasks are completed…

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…competency that Global Green’s project managers must possess to abstain from leakages of work tasks daily. Cash flow management would be more proficient as the managers would know what tasks have been fulfilled and how much money is needed for the remaining ones. Less stress would be exhibited when managing certain project stages as the adaptability quotient would be high.Additionally, it could be summarized that this skill is assumed to be a vital understanding of project dynamics when unexpected turns might occur. The mediating role of project managers with a sharp, attentive mind is needed (Sohi). In the case of Global Green Publishing, tackling the complexities of the project schedules is a dire need of time.ConclusionFor the success of the eBook project that Global Green Publishers have undertaken, an expert project manager who should be chiefly a risk manager is utterly required. His execution with strong project management skills would help the firm overcome the challenges that are faced currently. The decision-making would depend entirely on the project manager’s leadership and acute data comprehension skills, especially when part-timers are hired. The ongoing risk management would take the company to the next level of success since a trade-off would be created when an insightful analysis of circumstances, project scope, timelines, and results would….....

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