Individual Professional Reflective Review: My Future Role In The Workforce

1901 Words 8 Pages
BU5026 - Individual professional reflective review

Company role
My future role in the workforce would be the one of a project manager in an energy company, involved in either renewable or oil & gas. Therefore, I would be in charge of new project developments and monitoring the progress of these projects - such as delivering results and updates to the top management. This role will include different areas of accounting and finance, from which four areas will be discussed in this assignment.
Firstly, it is important to mention that an organization is interdependent while being divided into several departments. It is thus easy to think that the other departments and areas of responsibility will not be influencing one’s own work area. This is
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All organisations need to address the risk of all their activities and pursued endeavours. This risk is analysed in terms of profitability, performance measurements and market analysis. To manage risk is invaluable to project management, as it not only includes the assessment and evaluation of risk, but how to treat and react to the risk. A project manager must be aware of the level of risk, whether it is acceptable or not, and within which frames the project needs to stay. The project manager must also keep in mind the objectives of the company itself and base risk evaluation on these. Sometimes a risk may also present, as an opportunity, but the risk must thus always be assessed first, and then see if it is a threat or a risk. Policies and procedures often govern how risks are mitigated, but sometimes assessing risk can turn into a subjective task, evaluating all the measurements comes down to the individual project …show more content…
This highly relates to the risk culture in a company, and the need to keep track of outside factors as well as the internal must be included. For my part, this would be for example the spot price market or the oil price. My role would also include the assessment of what the competitors are doing and if there are any new technologies, which could threaten the company’s profit, and thus would need to be responded to. There is no panacea to risk-evaluation and risk-response, but changes in the risk culture will have an impact on how to facilitate risk-taking and thus make controlled decisions. These decisions could lead to a good balance between risks and the demands from customers, management, shareholders etc. for a good financial

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