NAME : KHRISTINE BAYRANTE

3RD YEAR BSBA

REACTION PAPER : RESOURCE ALLOCATION AND MANAGEMENT AND RISK
MANAGEMENT

What is meant by resource allocation Resource allocation is the process

of assigning and managing assets in a manner that supports an
organization's strategic planning goals.

for example, when I am the president of a company and then we have

finished a project within this week, I need my team to do everything, for
example, they work 40 hours per week, the team will divide that so that
they are not burdened with work, like 20 hours for team A to in projects
that are fast and need to be completed immediately, they need to work
20 hours within a week, then team B needs to complete 10 hours and
then the remaining time they need to plan what things should be
completed in the project that you are working on a group that does a
project really needs everyone's cooperation and ideas to finish a project
and everyone must work together to make the project successful.

For example, I will create my own business before you build it, you
must have a location or a plan where you build it, then if the business
you build is suitable for the organization because only the organization
can give you if the business you build succeeds. You don't just build
your business, you must first take steps to know what kind of business
you will build, if it will appeal to people, semper when you build a
business, you have a goal to achieve, not ours. of business and you must
have talent and you must have a clear direction for the allocation of your
business

and when you start a business, you should have prioritization resources
like the important ones, what is the match with the organization that you
will set up the business for, what is your target, why did you set up your
business there, why did you trust the organization that is about in the
business you will build. You must have an organization goal like can
they buy the business you are going to open there that you have built,
organization should always be a priority before you do the things you
want in your business. and budgeting allocates financial resources
according to priorities and needs of the organization will never go away.
When you really build a business, you really need money and you also
need budgeting because the budget will tell you how much you spent
when you built a business. your business and budgeting also prioritizes
organization goals. and the business will not disappear when you hire
someone who is suitable for the business you are building, you will hire
human resources management semper allocated personnel based on their
skills. you will not always hire an employee as long as you first have to
train them in what they are good at. get to know them first before you
introduce them to your business, where do their skills fit, that's why they
have training so that they know what they should do as an employee,
that's why they are trained to improve the skills of employees. and one
of the things you need when you are building a business is time
management, how do you manage your time in an organization, how do
you allocate time efficiently to ensure that tasks are completed within
deadline.
What do you mean by risk management the continuing process to
identify, analyze, evaluate, and treat loss exposures and monitor risk
control and financial resources to mitigate the adverse effects of loss.
illuminates the greatest threats and the potential opportunities, allowing
companies to become resilient, stronger organizations.”

and when you are doing a project you need risk management then risk
management needs finacial risk for cost inaccurate budget forecast, and
for increases in labor anf material, low sales and challenge funding and
the second need of risk management in a project is strategic risk
strategic risk is the result frim error in strategy, such as choosing a
project management methodology that doesnt work for a project and the
third is performance risk which is the result from team member.
because if you don't have resource allocation and risk management, you
won't see your business or project working because you don't know what
resources allocation and risk management are doing to your business or
project because they are the only ones who show what and you want to
work on your business or project because allocation is the one who
allocates where the organization has a goal or you must know their needs
and risk management is the only one who fixes problems or is the one
who creates the problem
I learned a lot about risk management and one of those is the purpose of
risk management is not to eliminate all risks. It is to minimize the
potential negative consequence of risks. By working with risk managers,
employees can make smart risk decisions to improve the chance of
reward. and the risk management can define as a number

Risk Management is concerned with all loss exposures, not only the
ones that can be insured. Insurance is a technique to finance some loss
exposures and, therefore, a part of the broader concept of managing risk;
not the other way around.

i learned about the resources allocation is the process of assigning and

managing assets in a manner that supports an organization's strategic
planning goals.allows you to plan and prepare for project
implementation or achieving goals. and also resource allocation is
important for education because of a key aspect of strategic leadership.
It involves making decisions