...Final Project: New House Decision ECO/212 February 20, 2010 The arrival of a new baby is a major lifestyle change. The decision to buy a house takes into account pros and cons of making a major purchase. A studio apartment is a difficult living arrangement with a new baby, because it is small and without a separate space for a baby. The studio apartment is not in proximity to schools or services, which are needed for childcare. A house offers space for baby, a yard, schools, and services. The pros of home ownership offer many benefits not available with a rental property. Trade-offs The studio apartment although close to downtown night life, is not close to schools, churches, or shopping centers. This location worked well for the past few years, because children were not part of the equation. Some trade-offs are required before making a housing purchase. Proximity to night life is enjoyable; however, caring for a new baby will limit a carefree lifestyle. Purchasing a home will require a down-payment and closing costs. In addition to a monthly mortgage payment, utilities, homeowner dues, repairs, maintenance, lawn care, insurance, and taxes are costs of ownership. When renting the renter does not have homeowner dues, lawn car, property taxes, and most repairs and maintenance costs. Homeowners unlike renters can make home modifications, without ramifications. Equity in a home increases the homeowner’s personal wealth. Homeownership also signifies stability. A renter...
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...Final Project: A New House-Decision Anna Schultz XECO/212 October 30, 2011 Chiara Yates Final Project: A New House-Decision Many of our decisions are influenced by the state of our economy. Purchase of big ticket items such as appliances, furniture, autos, and a home follow a line of investigation before the decision to purchase is implemented. The purchase of a home is one of the largest investments made in a lifetime, and uses many factoring influences before purchase. This paper will show how economics plays into the decision of the purchase. One of the first areas to consider is what the trade-off will be in purchasing a home versus the benefit of renting. What we need to consider is if purchasing a home and providing more space, and living closer to shopping and schools, justifies the added cost in utilities and maintenance of a home. The opportunity costs are another factor to consider. We can vacation closer to home instead of the trip to Europe we had hoped to take. Another option would be to maintain our existing auto instead of buying a new car. We need to research the marginal costs we would need to pay out. These include the amount of down payment, closing costs, taxes, insurance fees, and moving expenses. If we rent a larger apartment, we won’t have those costs, but we also wouldn’t have the benefit of ownership/write-off of interests in loan and property taxes. Monthly rent costs may be as much for a larger apartment versus a home that could...
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...Paper 1 Pm595 Risk Paper: Buying a new house Project Risk Management Professor: James Reckon By Magued Farag May 24, 2014 TITLE: BUYING A NEW HOUSE TABLE OF CONTENTS INTRODUCTION RISKS IDENTIFICATION RISKS RANKING MATRIX RISKS MONITORING CONCLUSION REFERENCES * INTRODUCTION Whenever considering a major purchase in life one must carefully consider the risks associated with making these purchase decisions. These decisions should be treated as projects in such a way that proper planning, analysis, risk assessment and contingency should all be aspects of the purchase process whether formal or informal. In this paper, I will discuss about a project that many people are familiar to: buying a new house. Few years ago, I moved to a new area and was trying to decide whether or not to purchase a new house, and if so, where should I buy it. I also considered if I should buy a preexisting new house or hire a builder for a new house. Every option had its own set of potential risks. If I continued to rent, was this really just throwing away money. If I purchased a house, could I afford it and was I buying the best house for me and my family? I approached it like any other project, with interviewing people, note collecting, collating, and interpreting the data. After reviewing my expenses and income and examining the tax advantages, I decided to buy a house but knowing that several risks may accompany my decisions, these risks rank from high probability...
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... Pm595 Risk Paper: Buying a new house Project Risk Management Professor: James Reckon Authored: Michael Arcoli December 18, 2015 TITLE: Purchasing A HOUSE TABLE OF CONTENTS INTRODUCTION RISKS IDENTIFICATION RISKS RANKING MATRIX RISKS MONITORING CONCLUSION REFERENCES * INTRODUCTION Whenever considering a major purchase in life one must carefully consider the risks associated with making these purchase decisions. These decisions should be treated as projects in such a way that proper planning, analysis, risk assessment and contingency should all be aspects of the purchase process whether formal or informal. In this paper, I will discuss about a project that many people are familiar to: buying a new house. Few years ago, I moved to a new area and was trying to decide whether or not to purchase a new house, and if so, where should I buy it. I also considered if I should buy a preexisting new house or hire a builder for a new house. Every option had its own set of potential risks. If I continued to rent, was this really just throwing away money. If I purchased a house, could I afford it and was I buying the best house for me and my family? I approached it like any other project, with interviewing people, note collecting, collating, and interpreting the data. After reviewing my expenses and income and examining the tax advantages, I decided to buy a house but knowing that several risks may accompany my decisions, these risks rank from high probability...
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...it is like to be a project manager. It also underscores that being a project manager is more social than technical and that project managers spend the majority of their time interacting with various people who impact a project. 1. How effectively do you think Rachel spent her day? You may argue that she is inefficient and does not have control over her time. You may also argue that this is the nature of the job as expected, and that she is appropriately spending her time managing relations and keeping on top of things that affect the project. Students with little work experience are often much more critical than those with work experience. 2. What does the case tell you about what it is like to be a project manager? Rachel’s day underscores three key functions project managers spend their time performing: a. Building and sustaining interpersonal relations. Project managers have to network and develop good working relations with team members and other project stakeholders. b. Information gathering and dissemination. Project managers are the information hub for their projects. They are in constant communication with various stakeholders, collecting information from various sources, and sending it to those who have a need to know. c. Decision-making. Project managers consult with various people to make decisions necessary to complete the project. Chapter 2: Problems 2-5 2. Two new software projects are proposed to a young...
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...44 121 2043116; E-mail: j.kotlarsky@aston.ac.uk Abstract Backsourcing, defined generally as bringing services outsourced to a third party back inhouse, is now a growing phenomenon. The decision to backsource has several significant implications for an organization, as it requires the organization to manage organizational change, reintegrate knowledge, and develop new capabilities and competences. Taking into account there is very limited empirical evidence of how to successfully accomplish the backsourcing process, two case studies included in this teaching case offer additional insight into the process of backsourcing. To prepare students for case analysis, this teaching case starts by describing the backsourcing phenomenon, followed by an overview of the backsourcing trend, and includes a brief review of the relevant literature that mainly focuses on backsourcing decisions and touches on critical success factors for implementing a backsourcing initiative. This is followed by two case studies that describe two essentially different examples of backsourcing. The first case study (MediaCorp) deals with the example of backsourcing IT hosting services, which is considered a business process, whereas the second case study (ITServCorp) talks about bringing an IT product development back in-house. However, regardless of the nature of the backsourced activity,...
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...satisfactorily. | All case chart requirements is met satisfactorily. | | Submission | On-time submission | N/A | N/A | N/A | | TOTAL | | Synopsis This story of Craven Books tells us about how a computer project, an IT implementation drove one company almost to bankruptcy. Craven Books is a distributor of comics and magazines, and books. The company was founded in 1960 by Peter Craven as he started to distribute sci-fi and horror books through direct mail. In 1970s, the business began well known in the marketplace by buying comics in bulk from both the American publishers and the second hand comic market and sell this on their customers in the United Kingdom by using a mail order catalogue. In the 1990s, the company was at the peak of it success and was looking to expand their business; to do so, it was decided the company should have an efficient distribution system, and that’s why Craven Books invest in new integrated information systems that will include all business operations of the company, from ordering, to processing, accounting and warehousing. All in one information system which aims to ensure that they will provide better quality service to their customers and to make their logistics be more dependable. However, upon implementation of such project, the company's expectation...
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...|Project Name |Huntsville Plant |Project Number |XXX | |Project Manager |Ahmad Malal |Prioritization |High | |Owner(s) |Johann Seitz |Start Date: |April 18, 2011 | | | | | | |Scheduled Completion |June 30, 2012 | |Date: | | |Mission | | |The purpose of this project is to construct anew plant so the strategic goals set in place will be met in the next fiscal year. | |Scope | | |In Huntsville, Alabama a new plant will be constructed accommodate for the increased number of sales the company is reaching for, room for new products | |that will be available, increased productivity and to house supplies so dependency on others will no longer be a factor. ...
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...Running head: PURCHASING A HOUSE RISK PAPER Purchasing a House Risk Paper Keller Graduate School of Management Project Risk Management PROJ 595 Dr. Susan Orr August 04, 2013 Purchasing a House Risk Paper INTRODUCTION The many advantages to owning a home have been well publicized. However, the above satistics make it clear that owning a home is not without risk. To form a complete picture, you, the prospective buyer, need to consider the potential risks and disadvantages of home ownership as well. Understanding these disadvantages beforehand will give you a better chance of minimizing their impact and avoiding the fate suffered by these homeowners. RISKS IDENTIFICATION There are many risks in buying a new house such as: • The opportunity cost of investing in an alternative investment is very high because the entire cash and future income stream is tied up into one asset a home, which may or may not appreciate. • The house is an undiversified investment, so if the market tanks as it has, game over. • Knowing that we do not own our home, the bank does. • A lot of cost connected to home ownership, such as repairs and insurance and fees and potential hazards I have not considered. • If I lose my job, game over, this will put a lot of stress on me. • There is a chance that your new home will lose value. Luckily, in general, the longer you own your home, the less likely a loss becomes. Loss of value is typically a short-term problem, possibly due to the local...
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...Analysis on Investment Decision Risk Analysis on Investment Decision Silicon Arts, Incorporated (SAI) is a manufacturer of circuits that are used in the manufacture of electronic equipment items. During their initial years in operation, there was an increase in the industry followed by a 40% decline. In order to remain competitive and stay profitable, SAI controlled expenses. Current trends indicate the industry may be on the rise again. SAI wants to develop some new capital investment projects that are in line with their goals: increase their market share, and keep pace with new technology (University of Phoenix, 2007). Future Scenarios The first task in the simulation was to examine probable future scenarios that could potentially affect SAI cash flow with two projects, Dig-image and W-Comm. Part of SAI’s plans is their desire to earn $54 million in their first year by selling 400,000 units, however they first need to determine their working capital. “Working capital rises over the early years of the project as expansion occurs. However, all working capital is assumed to be recovered at the end, a common assumption in capital budgeting” (Ross, Westerfield, & Jaffey, 2005, p. 183). SAI is expecting growth will be 20% in the first three years and then decrease 10% annually in years 4 and 5. SAI is expecting increasing competition, decreasing prices, and a short lifespan of the technology that could be obsolete before the lifespan of the project itself. Although increasing...
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...Running head: ASSIGNMENT # 1: MAKE OR BUY METHODS Assignment #:1 Make or Buy Methods by Inas Ellaham PMAN 641 – Project Procurement Management Professor Michael Hagerman University of Maryland University College June 12, 2011 Table of Contents Introduction 3 “Make” or “Buy” Analysis 4 Conclusion 7 References 9 Assignment #1: Make or Buy Methods Introduction According to the PMBOK (2008, p. 321), “a make-or-buy” analysis is a general management technique used to determine whether particular work can best be accomplished by the project team or must be purchased from outside sources.” A number of factors could affect the make-or-buy decisions such as budget, scope, or time constraints; therefore, when making a decision project managers weigh the advantages and disadvantages of make versus buy options and their impacts on the project costs and project master plan date. This paper examines and assesses the “Make or Buy” methods by analyzing it because project managers rely on it when deciding as to whether to “buy or make”. The first section of the research paper will present a brief description of these methods, followed by an analysis, which will include the advantages and disadvantages of make versus buy by providing reasons and examples against each one of these 2 options. Finally, based on the analysis and the findings demonstrated and revealed in this paper, I will highlight in my conclusion key limitations and constraints...
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...What it takes to have a custom house in Charlotte NC North Carolina in the southern city is the best place for anyone to move into opportunities and culture. Buying a house in charlotte nc can be an easy choice for you. But if you want to have something that has been in your mind, a dream house then building a custom house is what you need to do. However, it is a big decision for yourself and your hard worked resource. A house to yourself in a place like that is like a fairytale coming true. Once you have selected the property, you will need a well-developed teamwork for getting your home standing all ready. A good solution is to assign the custom home builders in charlotte nc for getting your own design into perfection. Take an initial step toward your vision You are about to make an enormous investment as your dream house. So you better be prepared for every odds coming at you. You need to be very careful about the decisions you are going to take as well as the builder you are about to select. Your whole dream house is depending on your project manager. It is very significant when it comes to custom home and the reputed professional home builders can commit to you and your dream for moving forward. It gets very difficult to find the right custom home builders in charlotte nc for working with. Stay open to options When you are trying to find the custom home builder for your project, take some considerations for field working. Research some best and reputed builders online...
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...has been asked to work and help with the project of building an adult entertainment retail store which will significantly decrease property values for the surrounding neighborhood where Owen, Luke’s brother, lives. ABC plans to publicly announce the project one month from today. Luke is concerned and aware about his obligations of confidentiality to his company. Luke, being close to his brother Owen, has received the news that Owen is planning to sell his house and has recently received an offer to sell at a fair price in the current real estate market. Owen wants to sell quickly but has not made any final decision yet since he considers the market will improve in the future and will be able to receive a better offer for the house. My duty, as a member of the Ethics Department for ABC Company, is to advise the personnel about their ethical obligations. Luke, troubled by the situation, comes for advising. Issue Luke is faced with a dilemma and his ethical reasoning is being put to test. Luke has to choose between being loyal to the company or care for his brother’s personal finances. Luke has two possible options in this situation. What decision will be ethical? Since he works for ABC, he has the obligation and responsibility of maintaining confidentiality and loyalty to the company. On the other hand, his brother’s decision to wait for a better offer for the house might be greatly influenced and negatively affected by the project proposed by ABC. Luke’s relationship with...
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...Applied Research Project | | IS535 | | 6/10/2011 | | Executive Summary Outsourcing IT Services for Data Center Consolidation California Natural Resource Agency’s Best Option for the Consolidation Project into Department of Water Resources Tier III-Equivalent Data Center The Department of Water Resources for the state of California is responsible for managing “the water resources of California in cooperation with other agencies, to benefit the State's people, and to protect, restore, and enhance the natural and human environments.” (http://www.water.ca.gov/about/mission.cfm) In late 2009 the Department of Water Resources (DWR) launched a multi-million dollar project to build a modernized IT infrastructure that is to house several of the California Natural Resources Agency’s (CNRA) commissions and conservatories. This project would make DWR a certified tier III data center. There are only four tier III data centers currently operating in California. The project was broken into two phases; the first was the build-out of the IT infrastructure, and the second phase is the migration and consolidation of the various agencies computer rooms and data centers. The first phase was completed in early 2011 and consisted of: * Better performance. New servers boost performance of key business solutions and applications by up to four times while enabling system engineers to keep computer intensive workloads in-house. * Consolidated IT. The new infrastructure...
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...Paper 1 Project Risk Management 595 11/17/13 Buying our First Home In this paper, I will discuss about a project that many people are familiar to: buying a new house. I moved to Columbus in 2001 to go to college, after renting for nearly a decade and living with roommates, I found a woman that I wanted to spend the rest of my life with. I had a good job and a good woman the only thing that was missing was somewhere to call home. We moved to a new area and we were trying to decide whether or not to purchase a new house, and if so, where should I buy it. I also considered if I should buy a preexisting new house or hire a builder for a new house. Every option had its own set of potential risks. If we continued to rent, we were really just throwing away money. If we purchased a house, could we afford it and were we buying the best house for me and my family? I approached it like any other project, with interviewing people, note collecting, collating, and interpreting the data. After reviewing my expenses and income and examining the tax advantages, I decided to buy a house but knowing that several risks may accompany my decisions, these risks rank from high probability – high risk to low probability – negligible risk. There are many risks in buying a new house such as: The opportunity cost of investing in an alternative investment is very high because of all the cash and future income stream is tied up into one asset a home, which may or may not appreciate. The house is an...
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