Skip to content

IAI Actuarial Core Principles · Business Management · Mission, business strategy, teamwork and time management

Himalaya Pensions Ltd uses a team of five analysts, with a deadline in three weeks for a strategic review. The project lead lists tasks, then classifies each by importance and urgency. A regulatory filing due in two days is classed as important and urgent. Updating a long-term market-entry model that will shape strategy is important but not urgent. Which time-management action is most appropriate?

Complete the urgent regulatory filing first, and schedule protected time for the important but non-urgent market-entry model. This prevents it from turning into a last-minute crisis and respects both compliance duties and the longer-term strategic work.

  1. ADo the filing now and schedule protected time for the market-entry model before it becomes urgentCorrect
  2. BIgnore the market-entry model until it becomes urgent
  3. CDrop the filing because strategic work always outranks compliance
  4. DGive both tasks to one analyst and ask for them at the same time
  5. Postpone both tasks until all other routine work is done

Explanation

Under the urgent-important approach, urgent and important items are done immediately, while important but non-urgent items should be planned and protected so they do not become crises. Ignoring the model risks later rushed work. Dropping a regulatory filing is inappropriate, and overloading one person or postponing both is poor planning.

Did you get it right without looking?

One question tells you little. A timed set on Mission, business strategy, teamwork and time management shows your real accuracy, how long you take and where you lose marks.

Practise Mission, business strategy, teamwork and time managementFree diagnostic mock

More Mission, business strategy, teamwork and time management questions