...internet network systems and IT security, activities of the competition, customer services, and law and contract issues. Risk management is important for many different kinds of development, production and many other enterprising projects because there is always information like key project cost, performance and schedule attributes which are unknown or fluctuate during the project. Risks that can be recognized in the early stage of the project which would potentially affect the project can be eliminated or minimized with a good risk management process. However, for those unexpected events that are unforeseen by the project team or organization, an effective and appropriate risk management process will be essential. An experienced and proactive risk management team can help to react and solve the problem effectively. The impact of the unexpected event can be reduced by developing plans to minimize its effect. Risk management is a concern of prediction of future events when the exact outcome or side product is unknown, also an art of dealing...
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...POSITIVE ATTITUDE A Positive attitude is very important in the society today as it will really help a lot of people. Many people will be attracted towards a person with a positive attitude. A positive attitude clears the mind. The effect of a positive attitude can lead to a healthier lifestyle. It could also help to solve problems, if society adopted it. There are a large number of benefits by having a positive attitude. By looking at the bright side of life, life becomes filled with light. This light affects not only the individual, but also the whole environment and the people around. There are many benefits to having a positive attitude. Individuals who have a positive attitude will often times attract other people to them. Most of the time people would prefer to spend time with individuals who have a positive attitude. By doing so, an individual can often have a positive influence on the people around them. By improving the individuals disposition, it will have a ripple effect that positively influences everyone in the area. By always being positive around people, a person can always help people. A Positive attitude will enable people to have a unique view of the world and have positive thinking. In the mind of a positive person, everything is possible to achieve, and failure is an option because it allows them to grow. If they face a problem or they make a mistake they often learn something, and recover from it and find a solution to solve it. By learning from mistakes...
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...The Importance of Risk Assessment and Management In definition a risk refers to an uncertain occurrence or an activity that if takes place could have either harmful or beneficial effects or both in realizing goals (Schatz, 2010). Therefore a risk has the potential to create threats as well as opportunities. Speaking in general terms however a risk is often seen as a loss or a negative impact that is quantifiable. In business, risks can determine the profitability of the company. As such the success of a project also largely depends on the extent to which the risks are eradicated or minimized. A risk can be influenced by both internal and external factors. Therefore in project management vital importance is given to risk management. According to Tatum (2011) Risk Management is the complete process of risk assessment and then taking the requisite steps to communicate and prevent the harmful outcomes of such a risk. In this scenario, risk assessment involves the identification, evaluation, quantification and prioritization of potential risks. A project team involved in an Information System’s project may encounter various types of risks. Project risk, security risk, system risk, organizational risk, business risk, people risk would be to name of these (Redman 2010; Vijay 2007). To effectively combat these, the project team and the project manger must develop risk management strategies. So let us now look into why it is important to manage risks well. To begin with it is found...
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...objective of most firms. There are two ways of improving profit: • Increase sales revenue • Decrease costs A combination of both would be the ideal way of achieving additional profit. Costs Some functional areas of a business (e.g. production or administration) can help to achieve rising profits by reducing costs. A business can increase profit by using different methods like: • cutting down on staff • reducing the amount of wastage on the production line However businesses have to be careful because these savings should not compromise the quality of their products or service. If this happens, the total revenue may be affected as customers will be less likely to buy the products. Costs are a major factor in determining the overall success of a firm, as measured by its profit. Classifying Costs There are two reasons for classifying costs: • To assess the impact of changes in output on the costs of production: a business can compare its...
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...the Reforestation Campaign in Commemoration of the Royal Golden Jubilee. The village headman is Mr. Praiwal Khumprasit. Majority of local people came from the lower Northeastern part of Thailand. At present, there are 320 households with total population of 1464. The success of the whole village was recognized since the year 2007. Ang Toey Village is a small, close-knitted community. It started off as a small scale farming community then expanded to diversified farming and occupations. Villagers are hard working persons and self-reliant I.e. they worked and produced for their own consumptions initially. Villagers started off as being farmers but as time went by, they realized that rice farming was not sufficient and was not good for their soil so this was the starting point of diversified farmings and occupations namely rice farming, orchards, vegetable growing, silk woven, fish cultivation. From producing for own consumptions, surplus occurred so they started selling/exchanging to nearby villages thus extra income earnings. This whole working concept fitted very well with His Majesty King Bhumibhol Adulyadej’s ‘Sufficiency Economy Model’. The major factors that contributed to the village’s success in adopting the sufficiency economy philosophy are the three main characteristics that describe the villagers’ way of life. They are modesty or sufficiency, reasonableness or...
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...produce high end aircraft for both commercial and military organizations. The products manufactured are primarily needed to carry passengers, carry cargo, and perform military operations. Aircraft used for these purposes are strictly regulated due to safety and performance concerns. In the United States, Boeing aircraft are regulated by the Federal Aviation Administration, or FAA. With all these factors in mind, Boeing is required to conduct extensive planning in order to operate an efficient business. Management planning plays a large role in the success of the company and is used at all levels of the corporation’s structure. The planning function of management is the process of setting goal and objectives for an organization to achieve over a set period of time. A plan will include activities and tasks that need to be completed in order to reach the ultimate goal. Good plans will also take into account variables and unexpected occurrences. By planning for the unexpected an organization can avoid the chaos that is associated with unforeseen challenges or problems. In the case of Boeing, planning is vital within all of its major departments. The company remains efficient by setting goals within its engineering department, sales department, mechanical department, and product testing department, among many others. For each goal, there will be set guidelines that explain how this particular goal will be achieved. The guidelines will outline the events that need to take place by addressing issues such...
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...Time Management I’m becoming more proactive physically and psychologically by taking charge of my goals and activities that I’m responsible for on a day-to-day basis. There have been unexpected surprises and challenges for me over the last few months, but I’m learning to remain calm and under control; for instance, my daughter was diagnosis with cancer and is undergoing surgery in the next 24 hours. Truthfully, my thoughts are discombobulate and I’m feeling overwhelmed, but in the mist of this unexpected life event, I’m thinking proactively in ways that will bring about solutions and move my daughter and myself forward in a productive manner, while hoping for the best for my daughter. I now have a more enthusiastic attitude in trying to achieve many of my goals. This has helped me to keep my energy high when sometimes everything around me seems to be falling apart. Before I commit to taking on additional tasks I’m now considering my goals and schedule. I had a major problem with this before I started the BSM program. I realize that I was working with a fixed amount of time and energy and I wasn’t using it wisely. I use to focus on a lot of different goals at once and end of failing to achieve most of them because I couldn’t give each goal the attention it deserved. There are task that I undertook and spend a lot of time on that simply provided me with little value or reward. A lot of times I lacked effort and concentration on these goals I was undertaking at that...
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...(Friday) – Unexpected power outage – 3 days – Overall delay – 7 days – includes recovery of lost work – will not recur Sample Answer: Dear Gill Roy The project “Payment processing system” was scheduled to be deliverd on 10th of May(Friday).But due to an unexpected power outage at our company for the past 4 days,we won’t be able to deliver the same on time.It also includes recovery of lost work. Hence, there will be an overall delay of about 7 days. We are trying hard to manage this problem and I assure you that this kind of problems will not recur again. Yours faithfully, XYZ Dear Gill Roy, The project “Payment processing system” was scheduled to be delivered on 10th May (Friday). However, due to an unexpected power outage in our offshore site for the past 3 days, work did not progress as expected. Also we lost a few of our works as backup systems did not come online. Hence we are expecting an overall delay in the delivery of the project for a maximum of 7 days within which our team will work on the issues. Apologies for the delay and we will ensure that the mistake will not recur in future again. Thanks and Regards XXX Question 2: You are a part of corporate communication team in your company. The working time period is revised as 8:30 am to 5:00 pm. Using the following phrases, write an email with a minimum of 70 words and a maximum of 100 words to the employees in your company informing the same. by 30 minutes to avoid traffic - effect from next...
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...Personal Responsibility Jillian Boston GEN/200 August 4, 2014 Alyse Stone Personal Responsibility Even though unexpected situations can occur, planning and staying focused will help me achieve my goal by utilizing time management, resources, and limiting distractions. Haskins (2009, p.1) stated, "personal responsibility is the willingness to both accept the importance of standards that society establishes for individual behavior and to make strenuous personal efforts to live by those standards. But personal responsibility also means that when individuals fail to meet expected standards, they do not look around for some factor outside themselves to blame." To me, personal responsibility means that my actions and decisions determine my success. If I want to do well in school, then I must put forth the time and effort with studying to get the grades I desire. As a mother with three small children, it is important for me to plan out my time. Since I cannot make the days longer I need to make a prioritized to-do list daily. Making a prioritized to-do list allows me to see what important activities I have that day that must get done, as well as activities that can wait until another time. Taking out activities that can wait until another day or time also takes away the stress I feel when I try to squeeze more things into a small amount of time knowing that it is impossible. For me, visually seeing my schedule for the day and the time allotted for each...
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...Catastrophic Failure Risk - Empire State Building John R. South, Jr. Keller Graduate School of Management PM 595 Project Risk Management Professor Bill Ketterman February 11, 2011 Table of Contents Catastrophic Failure Title Page 1 Table of Contents 2 Introduction 3 Sources of Construction Risks 4 Systems to Address Project Risk 8 Discussion of Fault Trees 10 Conclusion 13 References 15 Appendix I - III 16 Introduction As the contractor that will construct the largest building during this time period, we must first review the facts about this building. New York City's soaring skyline wouldn't be the same without the Empire State Building. Reaching 1,250 feet, it holds the title of the seventh tallest building in the world. It remained the world’s tallest building for 41 years until the World Trade Center topped it off and seven followed. Built during the depression in 1930 and 1931, it cost a whopping 41 million dollars. The engineer who took on this giant project was H.G. Balcom. The design of the building changed 16 times during planning, but the 3,000 workers managed to pull it off in record timing, 1 year and 45 days, including holidays and Sundays. This skyscraper is made of 60,000 tons of steel, 200,000 cubic feet of Indiana limestone and granite, 10 million bricks, and 730 tons of aluminum and stainless steel. In 1945, a B-25 Bomber on its way to Newark Airport in New Jersey crashed into the 79th floor only causing minor damage luckily...
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...Changing the Face at the Busiest Airport in the World through Project Management Refurbishing Heathrow Airport Terminal 1, On Time, On Budget, With No Disruptions to Travelling Public Background: Dated and In Need of a Revamp, But It has to be Business as Usual... BAA Airports Ltd. was tasked with the refurbishment of Terminal 1, a 40-year-old building within Heathrow Airport, the busiest international airport in the world, whilst constantly keeping the terminal open to the 20 million annual travellers. In 2004 BAA and the Star Alliance network, established in 1997 as the first truly global airline alliance to offer worldwide reach and seamless service to the international traveller, signed a memorandum of understanding that would result in Star Alliance moving into Terminal 1 at Heathrow Airport. Terminal 1 had previously been for short-haul European destinations only, but the introduction of Star Alliance meant that international passengers would now also be using the terminal. This work was required to facilitate the move by a number of Star Alliance airlines who were moving their operations from Terminals 2 and 3 to Terminal 1. The successful completion of this project was the enabler for the complete transformation of Heathrow Airport that is used by more than 90 airlines, which fly to more than 180 destinations worldwide. As well as a commitment to completing the project within a very strict deadline, health and safety issues were also a big concern given that the project...
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...BUSINESS SUCCESS REPORT—FOR ENTREPRENEUR Name Date of Birth Time of Birth Place of Birth XYZ mm/dd/yyyy 12:00:00 AM City, Country Preamble: As per your input, you have a business of producing Sewing thread tubes/cones which you market under your brand name, which was incorporated on 7/16/2008. At present you buy dyed yarn from the market and simple package them as tubes/cones for your customers. Like all Gujrati entrepreneurs, Mr. Dhirubhai Ambani is the role model and you have a dream to set up your own polyester manufacturing mill. In the process, you also dream that one day, you will have a net worth of 100 cores of rupees. In this report, we will first analyze whether you have the potential to realize this dream in your life astrologically as per your natal chart. We will also analyze the astrological signatures for next 5 years w.r.t your natal chart and transit of each planet through your natal chart, to capture the potential ups and downs in your business during next 5 years. A) Basic Astrological Parameters: Your Birth Chart: The important parameters in your birth chart: Your Ascendant: Aquarius Your Sun-Sign: Libra Your Moon-Sign: Gemini Exalted Planet: Rahu & Ketu Debilitated Planet: Sun Retrograde Planet: Saturn Natal status of each of the planets in your chart: We have listed above the natal promise of all the 9 Vedic planets in the chart based on their status in the chart. There are likely to be lot of contradictions about their significance in different aspects...
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...Palak Patel Mrs. Roman Eng102 Date: 03/16/2012 Divorce in America In the 21st century, so many Americans are struggling with divorce. Studies show that approximately sixty percent of marriage in America ends in divorce, and this does not seem to be slow down (“Divorce”). Nowadays, divorce is more common as compared to the past. Furthermore, so many issues are related to divorce: couples do not want to compromise about their relationship, women are becoming more independent, and couples are getting married too young. According to Wilson, “couples who live together before marriage have higher divorce rates than those who do not, and less educated couples tend to divorce at higher rates than those with more education” (“Introduction to Divorce”). It is also possible that couples are getting married for the wrong reasons, and they are not putting enough effort into their relationship, and their marriages end in divorce. Children are struggling as well as their parents because when parents become divorced the children become divorced too. After parents get divorced, children face a lot of stress during their lives. In the 21st century, the divorce rate in the American family is increasing because married couples are refusing to compromise about their relationship which is posing a potential danger to children. The divorce rate continues to increase in America over last twenty five years. As a matter of facts, the divorce rate is higher in today’s society compared to the...
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...Project management is vital for business success January 2013 Business colleagues shaking handsIn today’s challenging economic environment, senior management needs to understand the fundamental supportive and strategic role that project management plays in business. If companies are to pursue their plans for stability and growth they need to cease seeing project management as a functional activity and place it at the core of their business processes. At the same time, project managers and planners share the responsibility to engage better on a business basis with senior executives. Download the full white paper We must disabuse ourselves of the notion that project management is limited to specific industries, such as construction, engineering and manufacturing, indeed it is relevant to these industries but not only these. What successful business would admit that they pay scant regard to resource, time and progress management? The concept of project management focused traditionally on delivery challenges; this has long since widened in scope and takes in a vastly greater landscape of business challenges including management transparency through reporting functionality, financial planning and compliance. Working with so many companies to hone their project management approaches in a highly mature software sector, has shown us how enterprises can be supported at a strategic level with integrated project management. Many company leaders are still failing to see...
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...constraint is a dependable theory to identify and successfully handle bottlenecks. Identify Bottlenecks in the Process According to "Theory of Constraints" (2013), “TOC is systemic and strives to identify constraints to system success and to effect the changes necessary to remove them” (Theory of Constraints). The purpose of the process is to manage time wiser so daily goals will be achieved. When time is not manageable an individual will believe there is not enough time within a day to accomplish tasks. The bottlenecks that will hinder accomplishing daily goals would be watching television too much, spending too much time on curricular activities, not creating a “To Do” list, lack of sleep, and exercise. The main bottleneck is not using time wisely to accomplish daily goals successfully. In the Goldratt’s theory of constraints, logical thinking process is one way to help individuals to deal with bottlenecks in a process. According to "Theory of Constraints" (2013), “the thinking process assists with working through the change process by identifying the following: what to change, what to change to, and how to effect the change” (Logical Thinking Process). To overcome the bottlenecks an individual has to follow the list of tasks for each day. If unexpected situations interfere with achieving tasks make adjustments to the list. Decide what tasks take priority and do them first. When tasks cannot be accomplished for the day, add to the list for another day of the week. Create...
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