...Proj 595 - Risk Paper 1 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...
Words: 333 - Pages: 2
...penalties for causing accidents due to influence of over consumption of alcohol are valid from state to state. For instance, in the Tucson area, once convicted and found guilty for driving while under the influence (DUI) and/or while intoxicated (DWI), people find themselves susceptible to incredibly serious penalties. Such penalties range from a mandatory jail term, suspension of one’s driving license, and a force under court order to install an ignition interlock device in all cars driven by the convict among other penalties (Ministry of Transportation, 2013). Upon subsequent offenses, in many states, the felony offender is limited from accessing alcohol products from retailers or the retailers’ employees under the provisions of the new NM House Bill 87 (2013). The bill will be discussed further based on its provisions, one of which is the need for an ignition interlock license that prevent any driver from driving if he or she is under the influence of alcohol. Is Requiring Ignition Interlock Licenses to indicate that the Purchase of Alcoholic Beverages is Prohibited Effective? It is an offense to...
Words: 4127 - Pages: 17
...Kraynik Product Purchases and the Economy For this paper I’m going to select buying a home as my product of purchase since I’m currently in the market of selling my existing home and purchasing a new home. When considering making large financial purchases in today’s economic world, you have to take into consideration the possible long-term effects on your financial situation, current budget or future outcome. You have to ask yourself if the purchases you want are ideal and are you in a financial position to make such a significantly large purchase. There are so many factors to consider than just personal obligations or wants, but is it economically sound in today’s market as well. In this paper, I will talk about and try to explain some of the economic indicators such as interest rates and inflation rate as well as job market for the area. While considering if any of these indicators impact the supply for what I will demand over a two year period. Also in this paper, I have to answer how I might apply my understanding product, and how I am considering purchasing versus the supply and demand. Also I need to describe the impact on the price of the home and whether making the purchase should or should not occur or possibly be beneficial to me. Lastly, I will see if there are any macroeconomic shifts in supply or demand affecting the price of the Home. Thus, leading to the final decision of whether to purchase a new house or not. Economic Indicators With every large purchase...
Words: 1228 - Pages: 5
...Supply and Demand Name University of Phoenix Supply and Demand People who are planning to buy a new house should first be well informed about the status of their new locality’s real estate market. The housing market is strongly governed by certain economic conditions, and understanding the economic trend will allow interested buyers to wisely choose the best price for their new house. It is also an established fact that the business conditions can also influence the real estate market; however, the huge aspect that will truly affect housing prices is still the law of supply and demand. The principle of supply and demand is an economic principle that is applicable to all commodities whether material or immaterial. It is a principle that establishes the relationship between the price of the product to its availability and supply. So for example, if there is a high demand for a product that currently has low supply, the tendency is for the prices to be higher since there is the security of the market that can support the price imposed. On the other hand, if the demand for a certain product is low, but the supply is high, then its price will naturally decrease simply because of its high availability in the market (Mankiw, 2004). The homebuilding industry originally started out of the human needs to have stable and hardened shelters that can provide them with long term protection and comfort, especially when they are already starting to...
Words: 949 - Pages: 4
...Risk Paper 1 Risks Involved During The Purchase Of Our Home 1/25/2015 Class: Proj-595 Professor: Dr Madireddy [Type the author name] • INTRODUCTION In the spring of 2013 my family embarked on a new adventure. We moved 2800 miles from San Diego CA. to Franklinton NC. because of a promotion I accepted with my company. This was a very exciting and frightening time of transition for my family. There were many changes we had to make as well as some very important decisions to make. The biggest decision and question we had to make and answerer was are we going to buy a home or are we going to rent? Once the decision was made we were going to buy a home many questions and decisions had to be made and many risks had to be addressed. The risks we had to address when looking at purchasing a home include financial risks and environmental risks. • RISKS INVOVLED DURRING THE PURCHASE OF OUR HOME Home buying is a very exciting experience. Whether you are a first-time buyer or an experienced owner, buying a house requires a "preflight check," in the words of Barry Zigas, director of housing policy for the Consumer Federation of America. (Dratch) Before doing any risks assessments we first had to put down the home purchase into a pros and cons diagram to see if this was something we were willing to take on. With that decided we then proceeded to look at the risks involved. As my family experienced and statistics have shown that owning a home is not...
Words: 683 - Pages: 3
...Fundamentals of Macroeconomics Paper This paper will include definitions of terms used in economics or macroeconomics as well as scenarios related to economics and how these terms and scenarios work together. Understanding these terms are important to doing business in today’s world and can help one gain a clearer picture of how things work in terms of money. Monetary rules help make life a bit easier by avoiding chaos, even if there are some that do not agree. One term used in economics is gross domestic product or GDP. GDP is defined as the final count on products that are manufactured within a given country and under a certain time period. The GDP includes products consumed for public and private use, government use, exports, and investments. Imports are not calculated in GDP because these goods are not produced in the specific country. The formula for calculating the GDP is GDP = C + G + I + NX. The C in this expression stands for the consumption or spending that occurs within a country during a given time period (normally a year) on the public or private sectors. The G in the expression stands for government consumption or spending in the same time frame in a given country. The I in the expression stands for the total number of what businesses within a given country spend on capital in that particular year, and the NX in the expression stands for the country’s exports – imports in that same year. Another term used in economics is Real GDP. Real GPD is defined as the...
Words: 1458 - Pages: 6
...this is not the most efficient manner to mobilize funds. Thus with little lending, the economy will not be able to realize its full productive capacity, there would be a reduction in the ability to shift consumption through time and of course there would be other matters such as the decline in employment, GDP,....etc. Financial intermediaries, such as commercial or retail banks, insurance companies and mutual funds, are only interested in making a big profit, and there is no benefit to having them operating.” Do you agree or disagree with this comment? Provide arguments to substantiate your answer. This statement is false as financial intermediaries accelerate economic growth by expanding the available pool of savings, lowering the risk of investment through diversification, and increasing the productivity of...
Words: 1627 - Pages: 7
...Legal, Cultural, and Ethical Challenges Paper Legal, Cultural, and Ethical Challenges Paper Legal, Cultural, and Ethical Challenges Paper University of Phoenix MGT/448 Jamal B Ibrahim February 07, 2011 Legal, Cultural, and Ethical Challenges Paper As the United States economy waxes and wanes, commerce in the workplace changes to create new ideas for more and better sales. Global outreach for company expansion has taken the new economic conditions by storm for the consumer and American corporations. Company core values are built on the foundation of ones ideas and broadcast through marketing of the mission statements. Aligning a mission statement to create sales and a good public image can be even harder. The Lowe's vision is: We will provide customer-valued solutions with the best prices, products and services to make Lowe's the first choice for home improvement. This statement for retail sales establishes the basic thought of retail sales. The focus of this paper will be to discuss the legal, cultural, and ethical environment and how it relates to the Canadian and Mexican expansion of the corporate giant Lowe’s. I was taught the difference between right and wrong and found that growing up in a large family meant nothing is fair. My children are not allowed to use the term “not fair”. They must determine if the situation is right or wrong based on their own values. As the foundation of my personal beliefs...
Words: 1989 - Pages: 8
...Course Overview The objective of the subject is to make students conversant with a set of management guidelines which specify the firm’s product-market position, the directions in which the firm seeks to grow and change the competitive tools it will employ, the strengths it will seek to exploit and the weaknesses it will seek to avoid. Strategy is a concept of the firm’s business which provides a unifying theme for all its activities. Course Syllabus Group I: Defining Strategic Management, Characteristics of Strategic Management Types and Hierarchy, Formulation of Strategy: Various Stages and Components of Strategic Management, Determination of various objectives like corporate, divisions and departmental objectives: Vision, Mission and Purpose, Environmental Scanning: Internal & External environment, Types of Strategies, Guidelines for crafting strategies, Tailoring strategies to fit specific Industry. Group II: Strategic Analysis and Choice: Environmental Threat and Opportunity Profile (ETOP), Organizational Capability Profile – Strategic Advantage Profile, Corporate Portfolio Analysis – SWOT Analysis, Synergy and Dysergy – GAP Analysis, Porter’s Five Forces Model of Competition, Mc Kinsey’s 7s Framework, GE 9 Cell Model, Distinctive competitiveness – Selection of matrix while considering all models discussed above, Implementation of strategy: Analysis and development of organizational policies-marketing, production, financial, personnel and management...
Words: 11813 - Pages: 48
...Course Overview The objective of the subject is to make students conversant with a set of management guidelines which specify the firm’s product-market position, the directions in which the firm seeks to grow and change the competitive tools it will employ, the strengths it will seek to exploit and the weaknesses it will seek to avoid. Strategy is a concept of the firm’s business which provides a unifying theme for all its activities. Course Syllabus Group I: Defining Strategic Management, Characteristics of Strategic Management Types and Hierarchy, Formulation of Strategy: Various Stages and Components of Strategic Management, Determination of various objectives like corporate, divisions and departmental objectives: Vision, Mission and Purpose, Environmental Scanning: Internal & External environment, Types of Strategies, Guidelines for crafting strategies, Tailoring strategies to fit specific Industry. Group II: Strategic Analysis and Choice: Environmental Threat and Opportunity Profile (ETOP), Organizational Capability Profile – Strategic Advantage Profile, Corporate Portfolio Analysis – SWOT Analysis, Synergy and Dysergy – GAP Analysis, Porter’s Five Forces Model of Competition, Mc Kinsey’s 7s Framework, GE 9 Cell Model, Distinctive competitiveness – Selection of matrix while considering all models discussed above, Implementation of strategy: Analysis and development of organizational policies-marketing, production, financial, personnel and management...
Words: 11813 - Pages: 48
...to the countries in which it operates to manage its operations in as sustainable way as possible. A purchasing manager might want to consider whether the supplier behaves responsibly, for example, adhering to ethical standards or sourcing raw materials in an ethical way. For example, Shell is working with its existing suppliers to implement the Shell Supplier Principles. These set out the minimum standards which Shell suppliers need to meet. These include using energy and natural resources as efficiently as possible to minimise impact on the environment and covering health and safety issues. Efficiency Other aspects of sustainable business include managing waste effectively and reducing the company’s carbon footprint. This can be improved by choosing suppliers who also take their responsibilities towards environmental impact seriously. For example, Marks & Spencer made £70 million of efficiency savings during 2010/11. Alongside reductions in waste and packaging and increased energy efficiency, the company is working with suppliers to reduce carbon emissions in the supply chain by improving efficiency of deliveries. Roles and skills Although engineering and technical roles are crucial in the oil and gas industry, oil companies also require lawyers, accountants, geologists, electricians, plumbers, crane drivers, mechanics, divers and designers. Roles in purchasing and supply cover all levels, from...
Words: 1737 - Pages: 7
...Investing in the Stock Market Matt Gonzales Abstract The purpose of this paper is to inform the average investor of how to make money in the stock market. The stock market should be thought of as a long-term savings vehicle. Investing in the stock market should not be associated with gambling. By investing in high-quality U.S. companies, the investor in a company profits along with the company. As a shareholder, when the company makes money, the investor also does. There are many ways to invest in the stock market, but it is my opinion that investing in mutual funds is probably the most appropriate way for the average person, without expertise in stock analysis, to make money. This paper plans to inform the reader on how to purchase stocks and mutual funds and which are appropriate for investing and retirement. Investing in the Stock Market When an investor owns a share of a company’s stock, he/she receives part of the company’s profit or bears some of the company’s losses, if the company does not do well (investopedia, 2011). When company does make profit for the year, there are two basic options that the company can do with the profits. They can either reinvest the profits back into the company or they can pay them out in the form of dividends. High-growth companies rarely offer dividends because all of their profits are reinvested to help sustain higher-than-average growth. Dividends can be thought of...
Words: 3576 - Pages: 15
...mutual fund market till 1987 when a host of other government controlled Indian financial companies came up with their own funds. * These included State Bank of India, Canara Bank, Punjab National Bank etc. * This market was made open to private players in 1993 after the historic constitutional amendments brought forward by the then Congress led government under the existing regime of Liberalization, Privatization and Globalization (LPG). * The first private sector fund to operate in India was Kothari Pioneer which was later merged with Franklin Templeton. Objective / Aim: - * The objective of the project is to study about the topic Mutual Funds in India in details. * Many people are still not aware about the Risk and Returns involved in Mutual Funds. * Earlier people use to invest their savings into...
Words: 2186 - Pages: 9
...by Tryck & Media, Universitetsservice US-AB, Stockholm ISSN 1104-4101 ISRN KTH/BFE/M-09/88-SE ISBN 978-91-977302-5-9 Abstract This thesis focuses on problems of prices and risks in the housing markets of urban China. What drives the dynamics of housing prices across regions is not only of great interest for academic researchers but also of first importance for policy makers. It is also interesting to pay attention to the issue of housing bubbles at a city level and risk allocations from an institutional view. To address the issues, the thesis applies both qualitative and econometric approaches in analyzing the urban housing markets of China. The first paper reviews articles mainly published in Chinese core journals. The existing studies are mainly concerned with such six topics as institutions, policy, land, finance, price and market. The first three topics involve the public housing allocation system reform, such fiscal and monetary tools as tax and interest rate, and the land reserve system. The housing finance treats such subjects of mortgages, bubbles and financial systems, while housing prices explore factors such as land prices, construction cost and exogenous forces like income. Finally, the housing market addresses housing circles and the relationship between housing demand and supply. In paper 2, the housing price dynamics is investigated at a national level and across regions by using the panel data with 30 provinces over 7 years (2001-2007). The empirical...
Words: 7452 - Pages: 30
...Development Sust. Dev. 18, 20–31 (2010) Published online 10 March 2009 in Wiley InterScience (www.interscience.wiley.com) DOI: 10.1002/sd.394 Sustainable Consumption: Green Consumer Behaviour when Purchasing Products William Young1*, Kumju Hwang2, Seonaidh McDonald3 and Caroline J. Oates4 1 Sustainability Research Institute, School of Earth and Environment, University of Leeds, UK 2 Department of Business Administration, College of Business Administration, Chonnam National University, South Korea 3 Aberdeen Business School, Robert Gordon University, UK 4 Management School, University of Sheffield, UK ABSTRACT The ‘attitude–behaviour gap’ or ‘values–action gap’ is where 30% of consumers report that they are very concerned about environmental issues but they are struggling to translate this into purchases. For example, the market share for ethical foods remains at 5 per cent of sales. This paper investigates the purchasing process for green consumers in relation to consumer technology products in the UK. Data were collected from 81 self-declared green consumers through in depth interviews on recent purchases of technology products. A green consumer purchasing model and success criteria for closing the gap between green consumers’ values and their behaviour are developed. The paper concludes that incentives and single issue labels (like the current energy rating label) would help consumers concentrate their limited efforts. More fundamentally, ‘being green’ needs time and space...
Words: 7596 - Pages: 31
