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 …show more content…
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…
Usually, project management crosses organisational boundaries, where the chief engineer needs to have relations with the accounting department, the HR-department and so on. This phenomenon will also dictate the communication within the company and therefore the structure will decide the design of the managing accounting systems. With a decentralised company, the decision making befalls the junior managers will be at the lower levels, which means that management accounting systems will need to monitor them and provide feedback to senior managers about performance and outcome. If the organisation is more centralised these roles are unnecessary, and the senior managers will make the decisions in the first place. As the company is more divided into specialised divisions, this structure can increase efficiency and effectiveness, but will require additional coordination on the management’s