How to assess political risk in international business,corpse,disaster recovery plan definition - Plans On 2016

The United States continues to offer a stable and predictable environment for business investment, consistently ranking among the countries with the fewest political and security risks for businesses and their workers.
Political and security risks refer to political or criminal forces or events that can interfere with a business’ normal operations. Some multilateral organizations and private firms, including insurers, publish information on global political and security risks, sometimes for free. Source: Economics and Statistics Administration analysis using data from the Economist Intelligence Unit. Transfer risk is the risk of a government imposing restrictions on the movement of funds out of a country by private agents; these essentially are capital controls.
The physical safety of firms' employees is another consideration when doing business abroad, with war being the most extreme example of an event that places employees’ physical safety in jeopardy. Natural disasters and epidemics are another set of events that American businesses need to consider when deciding where to locate operations or source their goods and services. Doing business abroad may introduce risks due to political instability, expropriation, or security. Good IT project management can make or break key business initiatives, but finding top talent means identifying a unique mix of technical know-how and soft skills. As the economy continues to climb out of recession, demand for project management professionals has skyrocketed. For IT project managers familiarity with the standard way in which software and applications are developed, designed, built and delivered is a necessary skill, says Patel.
A project management team that's focused on how projects contribute to a company's growth, innovation and the greater business strategy rather than simply on completing discrete tasks can give businesses can a major competitive advantage, says Patel. Communication is obviously a must-have when hiring project management talent, according to Hallie Yarger, regional recruiting director, Midwest region for Mondo, a digital marketing and tech talent sourcing and consulting firm. Today's current global, digital economy means that some projects will be handled by teams in distinct geographical locations.
In the CEE and CIS regions, Republic of Moldova and Ukraine's political risk lowered, while Azerbaijan, Belarus, Croatia are bearing a higher political risk as compared to 2011, according the 2012 Aon Political Risk Map. Examples of political and security risks include expropriation, capital controls, breach of government contract, and adverse regulatory changes, as well as war, terrorism, and civil disturbance. When they do happen, the United States government maintains programs to provide assistance to U.S.

The map below indicates that some countries in Latin America, Eastern Europe, the Middle East, and Africa present the highest transfer risk. Companies should carefully consider these risks and any available avenues for mitigating them. Finding the right project management talent for mission-critical IT projects can be difficult, as the role requires a unique mix of technical and soft skills.In addition to the usual suspects -- attention to detail, focus on process, time management and capability to multitask, for instance -- there are some less obvious, but equally crucial, skills that separate the good from the great. You're always limited by costs, by technology constraints, by time and by personnel availability. Nowadays, most IT organizations are using the agile development methodology, so that's an important framework to understand."In the past, agile was only used by software development teams, but more than half of the companies we talk to today are applying the agile methodology to an increasing number of their technical projects. Project managers must be able to reach people from all different backgrounds, with all different personalities, and to be able to quickly and concisely inform employees, executives, customers and all other stakeholders about the status of the project. Project managers must be able to navigate tough situations and make difficult decisions based on the needs of the business without being political. Risks that resources are allocated to certain projects and not others, risk that projects will not meet the expectations and standards set by clients and stakeholders, risks that deadlines will be missed and projects won't be delivered on time.
Although EU and OECD member states were not rated in the 2012 edition of the map, Romania and Bulgaria were still taken into consideration and assigned a Low-Risk rate.
This report examines general trends in the global economy and FDI, corporate perceptions of political risk, risk-mitigation strategies, and the latest developments in the Political Risk Insurance industry. As the chart indicates, the United States and Germany pose the lowest risk in all three risk categories. At issue is not the probability of a natural disaster or epidemic, but whether the country possesses adequate resources, medical facilities, equipment, and infrastructure to deal with these problems.
The project managers who can decide how to best allocate limited resources to the projects that will have the greatest positive business impact are very valuable," says Tushar Patel, vice president of marketing at Innotas, a cloud-based project portfolio management solutions company. So, concepts like iteration, sprints, scrum, and how to translate changing requirements into end-user functionality based on customer feedback are some of the skills IT project managers must possess," says Patel.
Being able to understand and empathize with stakeholders that may have different viewpoints, personalities, communication styles and needs is difficult when projects are going smoothly -- being able to do so in times of crisis is incredibly valuable for a project manager."You almost have to have a little bit of a psychology background to figure out how to effectively motivate, push and cajole each person involved to make sure projects are completed on time and with a minimum of conflict," Yarger says.
However, a good project manager should be able to assess and mitigate all these by prioritizing the value of each asset, while minimizing the risk of project failures by ensuring the right team members have the tools, knowledge and information they need. The risk factor considered for both these countries is the supply chain disruption, while for Bulgaria legal and regulatory risk was also considered as significant.

This type of insurance is available for American companies with foreign operations from the Overseas Private Investment Corporation (OPIC), which is a U.S. Direct costs can arise as companies adopt extra measures to protect executives, such as hiring private drivers or security services. Lack of preparedness and responsiveness, coupled with weak construction standards and environmental degradation in developing countries, can leave inhabitants and thus foreign businesses vulnerable following a natural disaster. Of course, every organization interprets agile differently, so project managers must also understand how agile is used and applied in the organization they're working for.
As compared to the 2011 edition of the map, Bulgaria's profile didn't change, while the Romania's one slightly improved, as AON has removed the political violence risk assigned in the previous year. Nevertheless, companies seeking to operate abroad or source from abroad should take into account, first, the fact that political and security risks do exist and, second, the relative likelihood that these events will occur; accordingly, they should dedicate resources to prepare for various contingencies.
Information on a particular country’s crime, safety and security concerns, sanitary issues, and general conditions can be obtained from the State Department's Consular Information Program. Croatia's downgrade was determined by the country's exposure to the sovereign non-payment risk.Except for Russia and Moldova, which were assigned a Medium Risk rating, all the CIS countries are considered as bearing an above average political risk.
The Export-Import Bank of the United States also provides various insurance programs to mitigate country risks for American exporters.
Belarus is the single country in the region with a Very High risk rating, as the map's authors consider it is exposed to all the six risk considered in the analysis.Register for a free copy of the 2012 Aon Political Risk Map Download 2011 Aon Political Risk MapAbout the 2012 Aon Political Risk MapAon measured political risk in 167 countries and territories to assess the risk level of exchange transfer, sovereign non-payment, political interference, supply chain disruption, legal and regulatory, and political violence.
European Union and Organisation for Economic Cooperation and Development member countries are not rated in the 2012 map. Country ratings reflect a combination of analysis by Aon Risk Solutions, Oxford Analytica, a global analysis and advisory firm, and the opinions of 26 Lloyd's syndicates and corporate insurers actively writing political risk insurance. 71 countries have this risk icon, including Bolivia, Kenya, Swaziland, Pakistan and Turkmenistan. Legal and Regulatory: The risk of financial or reputational loss as a result of difficulties in complying with a host country's laws, regulations or codes. This is the least common risk icon with 61 countries, including Guinea Conakry, Papua New Guinea, Syria, Tuvalu and Vanuatu.

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