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What are the four considerations when reviewing risk so far as is reasonably practicable?

When reviewing risk, the four key considerations are: the likelihood of the risk occurring, the potential consequences of the risk if it does occur, the effectiveness of existing control measures, and the cost of implementing additional controls to further mitigate the risk. It's essential to weigh these factors to ensure that risk management efforts are both effective and proportionate to the level of risk. Additionally, involving stakeholders and ensuring compliance with legal and regulatory requirements are crucial in this process.


Definition of management in a condominium?

A condominium association is a business. The business charter can be found in the covenants, conditions, restrictions and rules -- and other governing documents. The association collects monthly assessments and pays the bills to operate the association, including saving money each month to replace expensive assets that all owners -- members of the association -- own in common. As well, the public spaces in the buildings must be cleaned, monitored and maintained. Landscape and amenities must also be taken care of. The condominium's management then, runs the business of the association. Sometimes this is completed by a vendor. More reasonably, however, the management of the association is conducted by its board of directors, who establish the annual goals for the business and monitor its operations. The management vendor, then, works for the board.


How difficult is the project management professional exam?

It can be either reasonably easy or very difficult, it's all subjective (but most agree that it's not an easy exam). Note that even if someone is a Project Manager for years, he or she can easily fail the exam if they only rely on their experience. The PMP is about studying, hard. Memorize the PBMOK, try to solve as many questions as possible, and you'll do fine.


List three factors which are to be balanced against the benefits of a risk control when reducing risks 'so far as is reasonably practicable'?

Cost, time and safety are the three factors that can be balanced against the benefits of a risk control when reducing the risks.


What are the Advantages of span of control in the organization?

"Span of control" refers to the number of workers a manager can reasonably supervise. A lot depends on the willingness and dedication of the workers (dedicated workers might not need as much supervision as prison inmates) and a lot might depend on the changes in technology of an industry ( a blacksmith not needing as much supervision as a currency trader) and a lot might depend on the damage the employees can do to the business if they screw up (currency traders versus blacksmiths again, unless the blacksmith is shoeing Kentucky derby value horses.

Related Questions

What are generally recorded as liabilities on the balance sheet?

2.Reasonably possible likelihood liabilities.


What are the four considerations when reviewing risk so far as is reasonably practicable?

When reviewing risk, the four key considerations are: the likelihood of the risk occurring, the potential consequences of the risk if it does occur, the effectiveness of existing control measures, and the cost of implementing additional controls to further mitigate the risk. It's essential to weigh these factors to ensure that risk management efforts are both effective and proportionate to the level of risk. Additionally, involving stakeholders and ensuring compliance with legal and regulatory requirements are crucial in this process.


What available types of auto fleet management tracking solutions are there?

This website, http://www.managerplus.com, offers a great software that can help you. They are easy to use and reasonably priced.


What are the benefits of a website content management system?

A website content management system is a very useful tool for people with little or no experience in coding or HTML. With these software tools, anyone who is reasonably skilled with a computer can easily create and manage a website.


What is the superlative form of the word reasonably?

most reasonably.


When does and incurred loss occur?

An incurred loss occurs when there is objective evidence that a loss event has occurred before the financial statements are issued and the amount of the loss can be reasonably estimated. In other words, it happens when a company has experienced a loss or is aware of the likelihood of a loss and can reasonably estimate the amount of that loss.


What are the seven principles of Just Cause?

Was the employee forewarned of the consequences of his or her actions? Are the employer's rules reasonably related to business efficiency and performance the employer might reasonably expect from the employee? Was an effort made before discharge to determine whether the employee was guilty as charged? Was the investigation conducted fairly and objectively? Did the employer obtain substantial evidence of the employee's guilt? Were the rules applied fairly and without discrimination? Was the degree of discipline reasonably related to the seriousness of the employee's offense and the employee's past record?


What does alara stand is contamination?

ALARA stands for "As Low As Reasonably Achievable." This is an acronym that is used in reference to contamination to show that they want levels as low as possible to avoid possible contamination. This is speaking of the Environmental Management team.


What can the reader reasonably infer from this about the narrator?

The reader can reasonably infer that the narrator is observant, analytical, and detail-oriented.


How do you use reasonably in a sentence?

I can give you several sentences.His reasoning is faulty.Reasoning logically helps you make better decisions.Provide me with the reasoning behind your actions.


Are White's metal detectors reasonably priced?

Yes they are. The products are easy to use and seem to be very reasonably priced.


What do auditors refer to situations in which the outcome of a matter cannot be reasonably estimated at the time of the financial statements are issued as?

Auditors refer to situations where the outcome of a matter cannot be reasonably estimated at the time of issuing the financial statements as an uncertainty. Uncertainties are disclosed in the financial statements to notify users that there is a potential for a significant impact on the financial statement values. Auditors evaluate the nature and extent of uncertainties to determine if appropriate disclosures have been made.