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

Sunita manages a six-person actuarial team at a Delhi insurer. She notices she personally rechecks every routine calculation that capable team members have already completed, and her own strategic planning work keeps slipping. Which change would best improve her use of time?

Sunita should delegate routine checks to competent team members with clear instructions and review only samples or exceptions. This frees her time for strategic planning while keeping control, unlike rechecking everything, abandoning planning, delegating without follow-up, or demanding overtime.

  1. AContinue rechecking everything to guarantee accuracy
  2. BDelegate routine checks to competent team members with clear instructions and review only samples or exceptionsCorrect
  3. CCancel her strategic planning work since the team is busy
  4. DHand all tasks to the team with no instructions or follow-up
  5. Ask the team to work overtime so she can review every item

Explanation

Effective delegation frees a manager for higher-value work while maintaining control through clear briefs and sampling. Doing everything herself wastes time, while delegating without instructions or follow-up loses control.

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