Michigan and Florida - A Lesson in Risk Management

Michigan and Florida - A Lesson in Risk Management

The Democrat National Committee is facing a large drawback when it involves the allocation of delegates at their 2008 convention. Last year, when it became clear that several states wanting a piece of the profitable early campaigning were visiting reschedule their primaries, each parties determined to step in to end the jockeying. The Republicans issued a mandate that any state going out of order would forfeit 0.5 their delegates. The Democrats went more, stripping non-compliant states of all delegates. Florida and Michigan challenged party rules and moved to the front of the season. All would have been okay if, like in past years, the nominee was set by a massive enough margin the sanctions would not have an effect on the ultimate outcome. The Republicans were fortunate to own a decisive victory before the tip of the primary season. The Democrats were not thus lucky. Now neither of the 2 leading democrat candidates is probably to own a majority when the primary method is over. The result's that a tough call should be created to keep Floridians and Michiganders from being disenfranchised. The leadership lesson is clear. Before mandating policies or rules, a leader must clearly think about what will happen in all scenarios. This is the process of risk management. Effective Risk Management To be effective at risk management, one should follow the following steps: 1. Review doubtless scenarios. This requires sturdy brainstorming facilitation where fully every likely consequence or action is determined. A sensible brainstorming session will usually do so in less than thirty minutes. 2. Confirm the likelihood of every scenario. Some eventualities can have a high probability whereas others will have a far off likelihood. This can be an educated guess, but closeness is quicker than specificity and just as effective within the process. 3. Determine the impact of every scenario. If the state of affairs happens, how detrimental can or not it's to your project, processes, productivity, or profitability. Do not contemplate the chance when determining the impact. 4. Evaluate impact and likelihood. Take a look at the high, moderate, and low rating of each scenario's probability and impact. For people who show advantage, have a plan of action. If something has a high impact and no affordable remedy is out there, you may wish to fully rethink the policy. Had the DNC thought of what would happen ought to the delegates from Florida and Michigan not be seated, and that they may be the deciding issue in who would get the nod for the November election, they'd have seen that they required to grant additional thought to their policy. Having done thus, they wouldn't be faced with their current dilemma. Rick Weaver is an accomplished business government with a wealth of expertise in retail, market analysis, offer chain enhancement, project management, team building, and process improvement. Rick career began in retailing as a stockclerk, eventually becoming the Director of Vendor Development at Kmart Corporation during it's heyday. During this position he worked with hundreds of Kmart's suppliers to enhance mutual processes, procedures, and profits. As a consultant, Rick has worked with corporations in numerous industries to develop leadership and business strategies. As an entrepreneur, Rick has founded or co-founded six successful organizations, as well as non-profit and for profit. Now in his role as president of MaxImpact, Rick uses his vast expertise serving to people connect to their dreams and teams hook up with a typical vision.

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