Mix Topic For Unit 1 & 2

Risk analysis.
• There are two main risk analysis methods.

• The easier and more convenient method is qualitative risk analysis.
Qualitative risk analysis rates or scores risk based on the perception of
the severity and likelihood of its consequences.
• Quantitative risk analysis, on the other hand, calculates risk based on
available data.
Risk Management Assessment Matrix
• What is a risk assessment matrix?
• It is a widely used tool that organizations implement as a part of their risk assessment
process to define risks and categorize them based on the likelihood of occurrence and
level of impact.
• Organizations can use different terms to describe their matrix. You might hear risk control
matrix (sometimes called a risk control table or risk control chart) or risk and control
matrix (RACM). Regardless of what an organization calls the matrix, it’s referring to that
holistic matrix that summarizes risks, how significant those risks could be (usually
measured by likelihood, impact, etc.), what mitigating factors are in place, and the
“residual” or unmitigated risk.
• So no matter what you call your matrix—a risk assessment matrix, risk control matrix, or
a RACM—this post is relevant for you. We’ll walk through the steps you can take to build
a matrix that summarizes your risks and create a process to identify and assess those risks.
The importance of risk assessments—why use a risk control
matrix?
• Organizations of all sizes use a risk assessment matrix for three major
reasons:
• A risk assessment matrix is a common tool used by organizations of all
sizes for three major reasons:
• To measure the size and scope of risk
• To determine if they have the appropriate resources to minimize the
risk
• To triage and prioritize the list of risks in a legible, easy-to-read matrix
Difference between Program, portfolio, and Project
Management.
• Project managers might provide updates on how current
projects are doing or how successful finished projects are to
program managers.
• Program managers may oversee a team of project
managers, providing guidance and instructions on how to
best set up or coordinate a project.
• Portfolio managers may meet with program and project
managers to align projects with large-scale objectives and
provide key performance metrics.
Investment criteria
• Investment decisions - Capital budgeting
• Capital budgeting is vital in marketing decisions. Decisions on investment, which take time to
mature, have to be based on the returns which that investment will make. Unless the project is for
social reasons only, if the investment is unprofitable in the long run, it is unwise to invest in it now.
• Often, it would be good to know what the present value of the future investment is, or how long it will
take to mature (give returns). It could be much more profitable putting the planned investment
money in the bank and earning interest, or investing in an alternative project.
• Typical investment decisions include the decision to build another grain silo, cotton gin or cold store
or invest in a new distribution depot. At a lower level, marketers may wish to evaluate whether to
spend more on advertising or increase the sales force, although it is difficult to measure the sales to
advertising ratio.
What is organizational culture?
• Organizational culture is basically the shared values, beliefs, behaviors,
and practices that shape the way a company does things. Think of it as the
unwritten rules that guide how people act and make decisions. And let me
tell you, it can totally make or break a company.
• If you have a strong organizational culture, you'll attract and keep top
talent, keep employees engaged, and even make more money. But if your
culture is toxic, you'll get high turnover, low morale, and bad performance.
• So, it's important to have a positive organizational culture. This means
figuring out what values and beliefs matter most to your company, and
then making sure your policies, practices, and behaviors all uphold those
values.
• The end goal is to create a workplace where everyone feels like they're
part of a community, with a sense of purpose and motivation. And when
everyone's on the same page, the whole company benefits.
Reasons why organizational culture is important
• 1. It defines your company’s internal and external

identity: Peter Ashworth explains that your organizational
culture “defines for you and for all others, how your
organization does business, how your organization interacts
with one another and how the team interacts with the
outside world, specifically your customers, employees,
partners, suppliers, media and all other stakeholders.”
• In other words, your organizational culture will reverberate
across all aspects of your business because it represents
the way you do business. It’s simultaneously your identity
and your image, which means it determines how your
people and customers perceive you.
• 2. Organizational culture is about living your company’s
core values
• Your culture can be a reflection (or a betrayal) of your
company’s core values. The ways in which you conduct
business, manage workflow, interact as a team, and treat
your customers all add up to an experience that should
represent who you are as an organization and how you
believe a company should be run. In short, your culture is
the sum of your company’s beliefs in action.
• 3. Your culture can transform employees into advocates
(or critics)
• One of the greatest advantages of a strong organizational
culture is that it has the power to turn employees into
advocates.
• Your people want more than a steady paycheck and good
benefits; they want to feel like what they do matters. And
when your people feel like they matter, they’re more likely to
become culture advocates—that is, people who not only
contribute to your organization’s culture, but also promote it
and live it internally and externally.
• 4. A strong organizational culture helps you keep your
best people
• It should come as no surprise that employees who feel like
they’re part of a community, rather than a cog in a wheel, are
more likely to stay at your company. In fact, that’s what most
job applicants are looking for in a company.
• 5. A well-functioning culture assists with onboarding:
• Organizational culture also has the potential to act as an aligning force at your
company. This is particularly the case with new hires who, more often than not,
have put some considerable thought into the type of culture they’re entering
into.
• The culture at your organization is essentially a guiding force for them, so it’s
important that it starts with onboarding.
• Writing in Forbes, George Bradt explains further: “People fail in new jobs because
of poor fit, poor delivery or poor adjustment to changes down the road.
Assuming you’ve aligned the organization around the need for your new
employees and acquired them in the right way, your onboarding program should
accommodate their needs (so they can do real work), assimilate them into the
organization (so they fit culturally) and accelerate their progress (so they can
deliver and adjust).”
• 6. Your culture transforms your company into a team
• A successful organizational culture brings together the people at your
company and keeps them aligned. When your culture is clear, different
perspectives can gather behind it with common purpose. The culture
at your organization sets expectations for how people behave and
work together, and how well they function as a team.
• In this way, culture can break down the boundaries between siloed
teams, guide decision-making, and improve workflow overall. On the
flip side, a toxic organizational culture has the capacity to do just the
opposite.
• Source: https://blog.jostle.me/blog/why-is-organizational-culture-
important
Matrix organization and how does it work?
• A matrix organization is a work structure where team members report to multiple
leaders. In a matrix organization, team members (whether remote or in-house) report
to a project manager as well as their department head. This management structure
can help your company create new products and services without realigning teams.
• Matrix organizations have two or more management reporting structures. While this
may seem confusing at first, team members typically have a primary manager for
their department.
• Reporting to a department manager functions similarly to a traditional work
structure. For example, team members working in IT report to the IT department
head. The IT department head reports to the vice president of their division.
Eventually, all reporting relationships lead to the CEO.
• The difference in a matrix structure is that team members also report to project
managers. Projects often require work from members of various departments like IT,
marketing, and finance, which is why having a separate manager for individual
projects makes sense.
Types of matrix management
• There are three types of matrix management, with each type giving
more or less authority to the project manager. You can visualize these
management types on a scale with the project manager on one end and
the department manager on the other.
• Summary
• A matrix organization is a company structure where teams report to
multiple leaders. The matrix design keeps open communication between
teams and can help companies create more innovative products and
services. Using this structure prevents teams from needing to realign
every time a new project begins.
• Source: https://asana.com/resources/matrix-organization

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Risk analysis.

• There are two main risk analysis methods.

• 1. It defines your company’s internal and external

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