...to determine whether or not the planned investment idea is feasible. The feasibility of an investment has to be considered with respect to several different aspects in order to determine whether the investment should be realized or not. Carrying out a feasibility analysis is therefore one of the most critical steps in the decision-making process. A feasibility analysis is an effective analytical tool that can be used to evaluate investments from various perspectives, e.g. technical, social, legal, financial, market, and organizational. Financial feasibility is often a predominant factor in feasibility analysis, as most investments are not realized if they do not generate profit for the project owners. The focus of this thesis is on financial feasibility analysis and its application in the decision-making process. Precision and reliability of feasibility analysis relies on the accuracy of information used in the analysis. The appropriate level of detail has to be decided with respect to what stage the investment is on. On early stages the level of uncertainty is often high, but as the investment opportunity evolves information become more detailed and reliable. As uncertainty can highly affect the results of the analysis, the level of detail has to be taken into account when basing decisions on the results. To assess the feasibility of investments relevant criteria have to be chosen. Feasibility calculations need to be done with care and the complexity of the calculations...
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...Project schedule control involves making sure that the scheduled work is completed on time and within budget (Morris and Pinto, 2007). sollo 1:18:45 AM project Scope management process includes process such as executing, monitoring and controlling the project process (Morris and Pinto, 2007). you can discuss how monitoring, controlling or executing enable the company to achieve project success The project scope includes a number of processes such as plan scope management, collecting requirements, defining scope, creation of work-based structure, validation of scope, as well as control of scope. This is shown in figure 4 below. In other words, it involves planning, monitoring, and controlling activities that are within the project scope and those that are not within the scope (Morris and Pinto, 2007). Process Project Group/team Key Deliverables Plan Scope Management Planning Collect Requirements Planning Requirements document Define Scope planning project scope statement Create WBS planning WBS, WBS dictionary Validate Scope Monitoring and Controlling Acceptance deliverables Control Scope Monitoring and Controlling Change Requests sollo 1:22:28 AM Turner (2012) indicates that project planning is critical in project management. It involves developing a work breakdown structure in order to know all the resource needed for the project and this would ease the flow of events. To ensure good project planning, the company and the project manager select qualified...
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...Week 2 Analysis Report BUSN460 Senior Project Professor: Raouf Ghattas January 20, 2013 Issue 1: CanGo is in need of a formal business plan. A formal business plan includes a mission and vision statement to help define the business and where the company would like to go in the future. As the owner/operator of CanGo, Elizabeth never developed a formal business plan for the business from the beginning and therefore had no documented blueprint for the business to speak of. Perfect starting issue! Recommendation: A business plan is a written document that demonstrates persuasively that enough products or services can be sold at a profit for your firm to become a viable business. The three primary reasons for writing business plans are (1) to aid you in determining the feasibility of your business idea, (2) to attract capital for starting up, and (3) to provide direction for your business after it is in operation. CanGo needs a written that will help find omissions and flaws in their ideas by allowing other people to critically review and analyze the plan. A business plan tells you what your business objectives are; when, where, why, and how your business will accomplish its objectives; and who will be involved in running the business. This planning process will help define CanGo’s short term goals and help determine the actions that need to be taken to accomplish them and then gather and commit the necessary resources (Hatten, 2008). The mission statement needs...
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...10/24/2011 WHAT IS A FEASIBILITY STUDY • A feasibility study is defined as an evaluation or analysis of the potential FEASIBILITY STUDY impact of a proposed project or program. It is conducted to assist decision‐ makers in determining whether or not to implement a particular project or p g program. • The study is based on extensive research on both the current practices & the proposed project & its impact on the current practice of the enterprise. • The feasibility study will contain wide‐ranging of data related to financial & operational impact & will include advantages & disadvantages of both the current situation & the proposed plan. • The feasibility study is conducted during the deliberation phase of the business development cycle prior to commencement of a formal Business business development cycle prior to commencement of a formal Business Plan. It is an analytical tool that includes recommendations & limitations, which are utilized to assist the decision‐makers when determining if the Business Concept is viable (Drucker 1985; Hoagland & Williamson 2000; Thompson 2003c; Thompson 2003a). Mahfuzul Hoque Ph D Mahfuzul Hoque Ph. D Professor , Faculty of Business Studies, Department of Accounting & Information Systems, University of Dhaka. October 24, 2011 • • • DMH‐ Project Management 1 THE IMPORTANCE OF A BUSINESS FEASIBILITY STUDY It is estimated that only one in fifty business ideas are actually ...
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...A Feasibility Study presented to the Faculty of College of Hospitality Management Holy Angel University Angeles City Facilities Planning and Design In Partial Fulfillment Of the Requirements for the Degree of Bachelor of Science in Hotel and Restaurant Management Submitted By: Bulanadi, Mark Miclat, Ainah Justine Partolan, Susan Belle Rivera, John Vincent Santos, Charmaine Submitted to: Ms. Joidee Dela Cruz Introduction A feasibility studies main goal is to assess the economic viability of the proposed business. The feasibility study needs to answer the question: “Does the idea make economic sense?” The study should provide a thorough analysis of the business opportunity, including a look at all the possible roadblocks that may stand in the way of the cooperative’s success. The outcome of the feasibility study will indicate whether or not to proceed with the proposed venture. If the results of the feasibility study are positive, then the cooperative can proceed to develop a business plan. It is designed to provide an overview of the primary issues related to a business idea. The purpose is to identify any “make or break” issues that would prevent your business from being successful in the marketplace. In other words, a feasibility study determines whether the business idea makes sense. It is an analysis of the ability to complete a project successfully, taking into account legal, economic, technological, scheduling and other factors. Rather than just...
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...understanding of project management. • Understand why project management is needed and how it differs from other forms of management. • Identify the relevance of project management to the business and academic world of management. • Identify the role of a project manager. • Identify the purpose or relevance of a feasibility study in the project environment. • Identify all the stakeholders and identify their needs and expectations. Project management is seen as a rather modern discipline, however many of the greatest monuments in the world, e.g. Pyramids, Taj Mahal etc, could not have been formed without some form of project management. The art and science of project management has been used in many ways although it was not until the 20th century that businesses began to see the relevance and importance of this discipline. Its role in business began as external to the organisation, however in recent years more and more organisations have begun to use project management internally. Project management has become a vital part of many businesses and it is used in many different fields of study, from engineering, programming or IT development, research and development, product development, marketing etc. The aim of this assignment is to see how project management is defined, how it applies to the telecommunications business and how project managers and organisations can use project management to ensure stakeholders’ expectations are met. QUESTION 1: Explain what project management...
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...| ECI PROJECT PLAN2014-15 | bcorp | [Date] | [Course title] | | | ECI PROJECT PLAN2014-15 | bcorp | [Date] | [Course title] | | PROJECT REPORT ON: STRATEGIC PLANNING, FINANCING AND IMPLEMENTING A PRELIMINARY IMPLEMANTATION IN “EXOTIC CAR INC (ECI) FOR 03 YEARS”. With this project report we are explaining about the project strategic plan, analysis, appraisal, finance and preliminary implementation for initial 03 years. Also, we will study all phases of project like - project planning, project analysis, project initiation, project implementation, and project result. Every stage is vital to make a project success. The major areas of the project reports are defined below: Project planning and analysis: 1. ANALYSIS We are about to create a new Project activity plan for ECI. We are about make a plan which will be feasible to implement for attaining more customer and for attaining quality of service 24/7. In this Analysis we will do in-depth study of all the departments of ECI from production to marketing to make a solid analysis of ECI business ways. 2. Detailed planning I. Technical feasibility The Technical Feasibility Study reports shows the details of how ECI will deliver a product or service i.e., materials, labor, transportation, technology needed, etc. A increase in business productivity in ECI would reach through its Technical belongings and thus the Technical products like Materials for car services, Car washer machines...
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...What are the attributes to be considered for evaluating any investment project in Bangladesh? Answer: By project we mean a plan or proposal; a scheme or something undertaken, especially something requiring extensive planning and work. For implanting a project there is need proper management of project for getting the desire outcome. By project management we understand that organizational management system that assigns employees to specific projects teams when special projects are contracted and then reassigns them back to the organization when the project is completed. Project management also involves coordinating project activities with organizational divisions and departments in order to complete their objective. There are a number of attributes to be considered for evaluating any investment project activities including: 1. the technical feasibility, 2. marketing prospects, 3. financial soundness, 4. economic viability 5. and environmental impact of the project A feasibility study is a detailed analysis of a company and its operations that is conducted in order to predict the results of a specific future course of action. Small business owners may find it helpful to conduct a feasibility study whenever they anticipate making an important strategic decision. For example, a company might perform a feasibility study to evaluate a proposed change in location, the acquisition of another company, a purchase of major equipment or a new computer system, the introduction...
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...automatic teller machine (ATM) machine. The input and output for each phase will be clearly outlined. Information from my Week 1 CIS/319 class readings will be used as a guide. Phases of the traditional Systems Development Life Cycle (SLDC) for a Bank ATM The Six Phases According to Moore, W., Nolan, E., & Gillard, “There are six different phases in a traditional systems development life cycle. The first phase is preliminary investigation, the second phase is system study, the third phase is system analysis, the fourth phase is programming and implementation, the fifth phase is support and maintenance, and the sixth phase is documentation”. (2006) According to Computer World, “Stages of the traditional system development lifecycle can be characterized and divided up in different ways, including the following: Project planning, feasibility study: Establishes a high-level view of the intended project and determines its goals. Systems analysis, requirements definition: Refines project goals into defined functions and operation of the intended application. Analyzes end-user information needs. Systems design: Describes desired features and operations in detail, including screen layouts, business rules, process diagrams, pseudo code and other documentation. Implementation: The real code is written here. Integration and testing: Brings all the pieces together into a special testing environment, then checks for errors, bugs and interoperability. Acceptance, installation...
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...Contents 1.0 INTRODUCTION AND CURRENT SYSTEM OF THE COMPANY 2 1.1 Introduction 2 1.2 Company Profile 4 1.3 Company Background 4 1.4 Current Situation In NHC 5 2.0 PROBLEM STATEMENT AND OBJECTIVES 6 2.1 Problem Statement 6 2.2 Objectives 8 3.0 METHODOLOGY 11 4.0 SCOPE OF PROJECT 14 4.1 Project Benefits 15 4.2 Project Deliverables 17 4.3 Project Duration 18 4.4 Project Limitation 19 5.0 FEASIBILITY ASSESSMENT 20 5.1 Economic Feasibility Studies 20 5.2 Technical Feasibility Studies 22 5.3 Schedule Feasibility Studies 27 6.0 SUMMARY 29 7.0 APPENDIX 31 Appendix 1- Project Scope Statement 31 Appendix 2- Gantt Chart 34 Appendix 3- Network Diagram 36 Appendix 4 39 Appendix 5 40 Appendix 6 41 1.0 INTRODUCTION AND CURRENT SYSTEM OF THE COMPANY 1.1 Introduction Northern Health Clinic(NHC) was founded by Dr. Edry Yussof and Dr Wilson Chen by combine their individual practices in the year 2010. In this era of technology, many system from many fields has been computerized. But, what happen in NHC now is still using manual system. All the works are done manually such as registration of patients, make appointment, insurance processing and billing. This incur many problems to NHC. Nowadays, many patient system have been developed in hospital or clinic fields. For example, Patient Administration System(PAS) that developed in United Kingdom. It is a very successful system that brings many benefits to hospital or clinic field. PAS system provide a number of core...
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...INTRODUCTION TO PROJECT MANAGEMENT 1. WHAT IS A PROJECT? Turner defines a project as: “..... an endeavour in which human, machine, material and financial resources are organised in a novel way, to undertake a unique scope of work, of given specification, within constraints of cost and time, so as to deliver beneficial change defined by quantitative and qualitative objectives. Projects range in size, scope, cost and time from mega international projects costing millions of dollars over many years - to small domestic projects with a low budget taking just a few hours. Within the context of this book a project may be defined as a beneficial change which uses the special project management techniques to plan and control the scope of work in order to deliver a product to satisfy the client's and stakeholder's needs and expectations. Consider the following projects: 1. 2. 3. 4. 5. 6. The launch of a new product (advertising and marketing project). Implementing a new computer system (IT project, or upgrade). Designing and implementing a new organisational structure (human resource project). Planning and conducting an audit (quality management project). Disaster recovery (limiting the damage of fires, floods or any type of accident). Olympics or Springboks' tour of New Zealand (a sports project). Other primary features of a project include: A start and finish ....Although they may be difficult to define - the start may have crystallised over a period of...
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...Project management techniques and tools are applied to manage Project Orion so as to make it a success. A project could be defined as a set of temporary activities and efforts that have a clear-cut duration and objectives. Project Management Institute (2013) has developed a complete set of processes and tools for managing projects, and A Guide to the Project management body of knowledge developed by Project Management Institute has been accepted by as US national standards for managing projects. This standard is widely adopted in other countries. The core objectives of project management is to achieve project success within give constraints in time, quality, cost and risk, and to attain the expectations and satisfaction of core stakeholders (Kerzner, 2009). This section specifies how Project Orion should management along with the rationale for launching it, on the basis of project management knowledge and theories. Special attention is given to project time management, project cost management, project quality management, project risk management, and stakeholder management. In detail, Project Orion is managed with four major phases, as shown in Appendix 1, namely Project Initiation, Project Planning, Project Execution and Project Closure. Each of these phases is addressed with details below. Usually a project involves various stakeholders, and they have different interests in the project. Support from stakeholders is usually important for achieving project success and stakeholder...
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...Week 5: Checkpoint: The System Development Life Cycle A system study needs to be performed on an accounting information system. There are four stages of the system development life cycle (SDLC) of a business information system. The cycles are; planning and investigation, analysis, design, and implementation, follow-up and maintenance. A broad view point needs to be used to perform a system study for planning and investigation. A mission, planning goals, and objectives needs to be placed. A team should be set up that will speak with the management continuously. This team can be outside the IT department for that broad view point. Also, management will need to appoint a steering committee to work with the study team. Problems may appear and the study team should do a crucial investigation of the system. Advising the steering committee of the findings will be done. After finding the source the committee will decide what is to be mended. Either, do nothing, do a further investigation, or execute a formal system analysis. The system analysis stage is organized to examine the system in detail. Goals need to be set, such as; general system goals, top management goals, and operating goals. General system objectives show benefits, decisions, access and flexibility to change. Top management goals provide managers with planning data to assist in creating important decisions for the future. Operating management goals provide specific managers with assistance in present decisions. System...
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...CIS 335 Case Study Bundle 2a: Due Monday, Sept. 1. How does strategic planning influence day-to-day business operations? Why is it important for systems analysts to understand a company's strategic plan? Answer: A strategic plan looks beyond day-to-day activities and focuses on a horizon that is three, five, ten, or more years in the future. Because the firm's IT group will be expected to deliver IT resources, IT managers must understand and participate in strategic planning. Strategic planning starts with a mission statement that reflects the firm's vision, purpose, and values. Mission statements usually focus on longterm challenges and goals, the importance of the firm's stakeholders, and a commitment to the firm's role as a corporate citizen. 2. What is a SWOT analysis? Prepare a SWOT analysis of your school or your employer. Answer: The letters SWOT stand for strengths, weaknesses, opportunities, and threats. A SWOT analysis can focus on a specific product or project, an operating division, the entire company, or the mission statement itself. Strengths – Affordable, comprehensiveness, quality, and growth of online education Weaknesses - lack of financial support for faculty Scholarship Opportunities - international and off-campus study and exchange programs Threats - risk of losing prominent faculty and staff for genuinely better opportunities at other schools. 3. What is an effective way to assess user requests for additional features and functions? ...
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...832-594-4535 | PROJ-592-11483 Project Cost & Schedule Control | Professor Erik Esser | May 12, 2013 | Lashelle D. Scott | 3620 Woodchase Drive Apt. #97 | Houston, Texas 77042 | 832-594-4535 | PROJ-592-11483 Project Cost & Schedule Control | Professor Erik Esser | May 12, 2013 | Project Definition, WBS, and Cost - You Decide Project Definition, WBS, and Cost - You Decide Project Definition, WBS, and Cost - You Decide Scenario VisionTec, an advanced technology company in the Midwest, is developing their new Vision System product for the lucrative Pharmaceutical Market. This system uses a high-resolution camera to inspect drug labels to ensure they contain the proper information to meet the ever evolving governmental standards. Your task is to organize the product development process for this revolutionary product which could save countless lives! Role You've just sat down with Marketing Director, Kara Rose, and R&D Director, Jessie Megana. After the standard pleasantries, Kara (well known to be focused on short meetings) starts with your marching orders Your task is to organize the product development process for this revolutionary product which could save countless lives. So, as Project Manager, you will create a Work Breakdown Structure (WBS) using the steps that Kara and Jessie have relayed during your meeting. Script Kara: The first thing VisionTec needs to do is establish Market Feasibility to determine if the product will...
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