Directorio mundial de ProZ.com de servicios de traducción
 The translation workplace
Ideas
Managing Business Risk

ProZ.com Translation Article Knowledgebase

Articles about translation and interpreting
Article Categories
Search Articles


Advanced Search
About the Articles Knowledgebase
ProZ.com has created this section with the goals of:

Further enabling knowledge sharing among professionals
Providing resources for the education of clients and translators
Offering an additional channel for promotion of ProZ.com members (as authors)

We invite your participation and feedback concerning this new resource.

More info and discussion >

Article Options
Your Favorite Articles
Recommended Articles
  1. ProZ.com overview and action plan (#1 of 8): Sourcing (ie. jobs / directory)
  2. ProZ.com Translation User Manual
  3. Getting the most out of ProZ.com: A guide for translators and interpreters
  4. Second Language Acquisition: Learners' Errors and Error Correction in Language Teaching
  5. El significado de los dichos populares
No recommended articles found.
Popular Authors
  1. Lina Elhage-Mensching
  2. Carla Lorenzo del Castillo
  3. sonia_b
  4. Brett Ferrell
  5. Demchuk
No popular authors found.

 »  Articles Overview  »  Business of Translation and Interpreting  »  Financial Issues  »  Managing Business Risk

Managing Business Risk

By Ralf Lemster | Published  12/1/2004 | Financial Issues | Recommendation:
Contact the author
Quicklink: http://esl.proz.com/doc/84
Author:
Ralf Lemster
Alemania
inglés al alemán translator
Miembro desde Sep 9, 2003
 

See this author's ProZ.com profile
Managing Business Risk
Presentation delivered by Dr. Giuliana Buscaglione and Ralf Lemster at the 2nd ProZ.com Conference - Oxford 2004

MANAGING BUSINESS RISK
Recognising and quantifying risks
Typical types of risk
How to read ‘tell-tale’ signs
Trying to quantify risks
Managing risks
Obtaining and verifying information
Minimum details
Precautions / risk-mitigation techniques
When risks turn into problems…
Staying in touch
Collection procedures
Dealing with cash-flow problems

TYPICAL TYPES OF RISK
Non-payment
Cash flow
Reputational risk
Other business risks

HOW TO READ 'TELL-TALE' SIGNS
Anonymous e-mail accounts
Lack of details
Inconsistent details
‘Top urgent’ jobs

Details of a job posted on ProZ.com:
URGENT DE>EN
I need help translating 3 .doc files (1532, 690 and 264 words) by 20.00 German time this evening. Two translators could perhaps shre the workload? ONLY NATIVE SPEAKERS PLEASE!!!

Please contact the outsourcer by email: Katharina.Gloeckler@lycos.de
Contact person: Katharina Gloeckler
Address: Hans-Baumann-Straße 35, Berlin, 01199
Phone: +49 30 569822
How to read 'tell-tale' signs

(What was suspicious about the job was the six-digit telephone number - the last time these were available in Berlin was 30 or 40 years ago... the IP details revealed that the job was posted from the UK.)

TRYING TO QUANTIFY RISKS
Estimated/expected job volume
Probability of default
Risk = Job volume * PofD
Own work vs. outsourced work
Financial exposure when outsourcing

Do you really want to accept doubtful jobs?

MANAGING RISK
Obtaining and verifying information
Minimum details required
Precautions to be taken / risk-mitigation techniques
Obtaining/verifying information
Checking IP header data

Return-Path: [ sender email address ]
X-Flags: 0000
Delivered-To: [ your provider ] to [ your address ]
Received: ( [ provider XXXX ] invoked by uid XXXXX); [ date ] [ time ] -0000
***Received: from server (EHLO name server) (IP address)***
by [ server ] (XX) with SMTP; ); [ date ] [ time ] +0100
Received: from XXX by [ server ] with local (data of server))
id XXXXXXXXXXX
for <your email address>; ); [ date ] [ time ] +0000
To: your email address
Subject: [ subject ]
From: sender email address
Reply-To: sender email address
Message-Id: <XXXXXXXXXXXXXXX>
Date: ); [ date ] [ time ] +0000

MINIMUM DETAILS
Contact details
Company name, contact name, department
Phone number (preferably fixed-line)
Fax number
E-mail address
URL

Job details
Job description and details
Delivery deadline(s) – date and time (including time zone)
Price and price definition (source vs. target, word/line/character count, including convention)
Payment terms

MITIGATING RISKS
Prepayment
20-40% down payment upon job placement
Competitive pressures vs. risk exposure
Partial deliveries
Invoicing for each project stage

DEALING WITH RISKS WHICH HAVE MATERIALISED
Staying in touch, setting deadlines
Collection procedures
Dealing with cash-flow problems resulting from non-payment


Comments on this article

Knowledgebase Contributions Related to this Article
  • No contributions found.
     
Want to contribute to the article knowledgebase? Join ProZ.com.


Articles are copyright © ProZ.com, 1999-2014, except where otherwise indicated. All rights reserved.
Content may not be republished without the consent of ProZ.com.