...the old process. In the new process IT projects are prioritized to determine funding in a very efficient way, ensuring that the projects that are very important to business strategy meet their financial requirements, enabling business unit managers to work together so they would make decisions focused on the overall strategy of the company. With the new process IT resources would be aligned to corporate and business unit goals, keeping expenses under control, as well as schedule and cost overruns. I think that the criticisms by the Executive Leadership Team members were not justified at all. 2. Who controls the budgets from which IT projects are funded at Volkswagen of America? Who should control this budgets? Should the IT department have its own budget? VWAG (the parent company of VWoA) controlled the budget from which IT projects are funded at VWoA which in this case was $60 million. However this budget was controlled through a process that involved several organizational entities. There are four specific teams involved in this process: 1) the ELT (Executive Leadership Team) which had primary responsibility for executing the NRG program, the ITSC (IT Steering Committee) that would guide and approve the process of IT project selection and prioritization, the PMO (Project Management Office) who would administer the IT project-proposal and approval process, and the DBC (Digital Business Counsel) who would categorized projects, assessing their business impact, discerning...
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...risks, benefits, and opportunities can be identified in a much clearer and faster fashion. Also, by having an internal IT Department within VWoA, this would mean that VWoA now has dedicated IT employees and internal expertise required in order to keep up with the dramatic growth in the use of IT within VWoA and to remain competitive among the competitors. 2. The design and flow of the new process for funding projects are now much more organized and involve various stakeholders in the decision-making process. By including everyone in the process, the VWoA is able to account for all possible small details and draw a big picture of the project structure from these parts. This process helps the organization streamline projects with similar functions and fund projects with higher priority in order to save money and time and to achieve the best synergy and utilization for VWoA as a whole. 3. The phase three of the new process utilizes Portfolio Management to transform business unit requests into five Enterprise Goal Portfolios. This helps VWoA organize and manage projects that contribute to the entire organization’s success and best match its strategic goal. However, nothing is truly perfect in the real world; and so is the new process for managing IT...
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...Part I: The Operating Budget for Charles County Maryland Strayer University PAD 505 October 29, 2015 Introduction Charles County was created by an Order in Council in 1658. The County was named for the 3rd Lord Baltimore, Charles Calvert (1637-1715) who lived in Maryland from 1661 to 1684 before returning to England. Charles Calvert was Proprietor of the Maryland colony from 1675 to 1689, until he lost his right to govern. Maryland was governed as a royal colony, from 1692 until Calvert's death in 1715. Charles County is located in Southern Maryland, along the banks of the Potomac River, just south of Washington D.C. Charles County in bounded south & west by Potomac; east by St. Mary's County; north by Prince George's County. According to the U.S. Census Bureau, the county has a total area of 643 square miles and estimated population of 154,747 and an estimated population growth thru 2030 of 204,200. There are several divisions within Charles County such as Fiscal and Administrative Services, Public Works, Community Services, Planning and Growth Management, Health Services, Social Services, Economic Development, Conservation of Natural Resources, and Financing Uses. The mission of Charles County Government is to provide its citizens the highest quality service possible in a timely, efficient and courteous manner. To achieve this goal, its government must be operated in an open and accessible atmosphere, be based on comprehensive long- and short-term planning and...
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...America provides more transparency and reduces duplicity in projects compared with their old method. Volkswagen established a Project Management Office (PMO) and required business units to prepare the list of proposed projects at the beginning of the year. This was a great first step in highlighting the similarities amongst the projects prior to budgets being set and work being done. It also identified the dependencies of projects on one another and allowed some to be de-scoped for subsequent years. In turn, this reduced the estimated cost from $210 million to $170 million. In phase 2, business units prepared a more formal proposal with information such costs, benefits and how the project links to a business/enterprise goal. While not embraced entirely by some of the groups, this was a good method for aligning IT projects with business strategy. By documenting a more formal proposal, Volkswagen was able to use this detailed information to help narrow down and prioritize projects. During phase 3, executives were asked to indicate the top three projects for the year. These would most likely be applied to the majority of the budget and any other projects would have to figure out a way to get funding or place projects on hold for a year. This more organized structure of prioritizing projects is substantially better than throwing darts in the dark. This process allows Volkswagen to make informed decisions and clearly align projects with the business strategy. Overall, our assessment of...
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... |: |4 | |Semester |: |2 | |Course Status |: |Core | |Pre-requisite |: |None | Course Outcomes At the end of the course, the student will be able to: 1. Identify the event management process in strategizing event conceptualization and planning. 2. Develop an estimated event budget 3. Propose an event which is in accordance with stakeholder’s requirements and needs. Course Description This course is designed for prospective event professionals to develop detailed planning strategies for a successful event and integrate the various event management processes. The areas of event conceptualization and planning are...
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... |defined project plan | |Poorly worded documentation |Shows lack of professionalism. Could confuse the client | |No checks and balances |No way of managing quality. Potential to not deliver on time and within budget | |Omitting special instructions and |Project may not achieve the client’s desired outcomes. Project may not be compliant with industry standards | |or/standards | | |Poorly written technical specifications |Project team may have difficulty following technical instructions. Failure to deliver | |Ambiguity of terms and/or conditions |Can lead to misinterpretation/ miscommunication by the client. Project team may have trouble following and | | |implementing scope document | |Lack of clear information on stakeholders |Not fully understanding the needs of the stakeholders. Preparing the wrong scope of works | |Incomplete or missing scope documentation |Scope creep, pay present an incorrect budget if documentation...
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...efficient way of implementing a project in terms of selection and precedence,for the type of projects whose main aim was to meet the financial requirements in respect to the NRG goals. Although, there were some drawbacks in the system due to the way they evaluated all the projects using a type of ranking system.For example,if VWoA used a ranking system to select a project, their corporate did not fund for projects at the lower levels as they did not meet the company goals, even if the project would have a potential to gain success or a positive impact on the business. According to me, the criticisms are not justified, as the company derides IT as the main reason for increasing costs.This aspect of the company about IT is not completely true. The costs involved in IT projects should be considered as a long term investment which yields higher return. Therefore, the best way of selecting a project is through the ranking system which will not only help the project team choose the project easily on the basis of priority but helps in problem solving too. The new process however has helped in improving the business units in a big way because these business units choose the right project efficiently compared to the previous processes. 2. Who controls the budgets from which IT projects are funded at Volkswagen of America? Who should control these budgets? Should the IT department have its own budget? Uwe Matulovic, the CIO of VWoA controls the budgets with input from the Executive...
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...inter-lending activities. In time, the number of statistics was enlarged and differentiated, and in many cases, it now comprises several hundred data points. These range from the number of incunabula or microforms in the collection, the expenditure on preservation or buildings to the number of issues made, claims and reservations placed or visits made to exhibitions and special events. These statistics are, for the most part, collected nationally, but libraries also tend to collect additional statistics, (e.g. for special tasks and activities like legal deposit right, special collections, or services for special user groups). All those statistical data could be used as steering instruments for library management. But such use is more often accidental than systematic, and many data are collected laboriously without ever being evaluated or used. For several decades libraries have tried to assess, not only the quantity of their resources and activities, but also the quality – the “goodness” of a library’s services and products. Performance measures for libraries have been developed and tested in national and international projects and standardized in an international standard (ISO 11620, 1998). Though there are lists of recognized and established performance indicators, such indicators have not been collected and used systematically, like in the national collection of statistics, but rather in the evaluation process of a single library. Advances in Library Administration and Organization...
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...Project Name | Kahula Coffee Grand Opening | Project Number | | Project Team | Breanna Khanbalinov | Prioritization | | Owner(s) | | Start Date: | July 19, 2015 | Scheduled Completion Date: | August 25, 2015 | Mission/ Purpose | Kahula Coffee is a Hawaiian coffee shop that expects the grand opening to have an island feel and welcoming vibe. Kahule Coffee focuses on keeping its customers relaxed as they purchase their coffee. The purpose of the grand opening is to show the community that they are open for business and have a wide variety of tasty coffees. | | ProjectDescription and Project Product | This project is going to assist the owners of Kaluha Coffee in having a spectacular grand opening. Kaluha Coffee shop owners are expecting to have party decorations that relate to Hawaii. The project would entail creating a schedule, determining the types of activities customers would have available, ensuring that Kaluha Coffee has sample stations, etc. | | Objectives | The objective of this project is to prepare a grand opening for Kaluha Coffee and in doing so maintain the budget of six thousand dollars, create the desire for at least seventy people to attend, and ensure that the presentation of product is in the theme of Kaluha Coffee. | | Business Need | This project is a great opportunity to generate revenue and expand our business in the area. This coffee shop is located in a new business oriented area to which many new local shops are beginning...
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... * Planning involves the development of future objectives and the preparation of various budgets to achieve these goals * Controlling involves the steps taken by management to ensure that the objectives set down at the planning stage are attained, and to ensure that all parts of the organization function are in a manner consistent with organizational policies A government budget is a plan for financing its activities for a fiscal year prepared and submitted by responsible executive * The budget is an estimate of the proposed expenditures for specified purposes and periods, and embodies the means of financing them during the same time frames * FORMS AND CONTENTS OF THE NATIONAL BUDGET * A budget message setting forth in brief the government’s budgetary thrust for the budget year, including their impact on development goals, monetary and fiscal objectives, and generally on the implications of the revenue, expenditure and debt proposals and: * Summary financial statements setting forth: * Estimated expenditures and proposed appropriations necessary for the support of government including those financed from operating revenues and from domestic and foreign borrowings * Estimated receipts during the ensuing fiscal year under the laws existing at the time the budget is transmitted and under revenue proposals, if any * FORMS AND CONTENTS OF THE NATIONAL BUDGET * Actual appropriations, expenditures and receipts during the last completed year ...
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...UNION BUDGET 2010-11 Impact Analysis UNION BUDGET 2010-11: Impact Analysis CONTENTS BUDGET AT A GLANCE ............................................................................................ 1 UNION BUDGET 2010-11 : A MACROECONOMIC PERSPECTIVE ........................ 2 - 3 SECTORAL IMPACT ........................................................................................... 4 - 23 CHANGE IN CENTRAL PLAN OUTLAY..................................................................... 24 RECEIPTS .......................................................................................................... 25-26 EXPENDITURE ................................................................................................ 27 - 28 KEY ECONOMIC INDICATORS (Absolute Values) ................................................... 29 KEY ECONOMIC INDICATORS (Percentage Change Over Previous Year) ............... 30 UNION BUDGET 2010-11: Impact Analysis BUDGET AT A GLANCE (Rs bn) 2009-10 Revised Estimates 1) Revenue Receipts 2) Tax Revenue (net to centre) 3) Non-Tax Revenue 4) Capital Receipts (5+6+7)$ 5) Recoveries of loans 6) Other receipts 7) Borrowings and other liabilities * 8) Total Receipts (1+4)$ 9) Non-Plan Expenditure 10) On Revenue Account of which, 11) Interest Payments 12) On Capital Account 13) Plan Expenditure 14) On Revenue Account 15) On Capital Account 16) Total Expenditure (9+13) 17) Revenue Expenditure (10+14) 18) Capital Expenditure (12+15) 19) Revenue Deficit...
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...the short run? A. Outsource a component they are currently manufacturing in house B. Increase the selling price of the product C. Accept a special order D. Discontinue price discounts E. Hire additional employees 2. Brite Lites makes floor lamps. The company has received a request to make a special production run of 50 custom-made floor lamps. Each of the special order lamps requires $10 in labor, $8 in materials and $5 in variable overhead. In addition, the special production run requires a setup cost of $400. Brite Lites currently has 45 units of excess or idle capacity. The company's regular lamps generate a contribution margin of $20 each. Brite Lites allocates fixed overhead to its product at a rate of $7 per unit. What is the minimum selling price per lamp Brite Lites should accept to make the special order? $20 A. $23 B. $30 C. $31 D. $33 E. Cost of special order Variable cost ($10 + $8 + $5) x 50 units = $1,150 Setup cost = $400 Opportunity cost = $20 x (50 units - 45 units) = $100 Total = $1,650 Minimum price per unit = $1,650 / 50 units = $33.00 Keep your exam scantron covered . . . . Keep your eyes on your own paper . . . . 3. The Owens Company budgeted sales of 20,000 printers at $90 per unit last year. Variable manufacturing costs were budgeted at $46 per unit and fixed manufacturing costs at $12 per unit. A special order for 1,000 printers at $72 each was received by Owens in April. There is enough plant capacity to meet these additional units without incurring...
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...acknowledged properly; (d) All monies officially received by a local government officer in any capacity or on any occasion shall be accounted for as local funds, unless otherwise provided by law; (e) Trust funds in the local treasury shall not be paid out except in fulfillment of the purpose for which the trust was created or the funds received; (f) Every officer of the local government unit whose duties permit or require the possession or custody of local funds shall be properly bonded, and such officer shall be accountable and responsible for said funds and for the safekeeping thereof in conformity with the provisions of law; (g) Local governments shall formulate sound financial plans, and the local budgets shall be based on functions, activities, and projects, in terms of expected results; development plans, goals, and strategies in order to optimize the utilization of resources and to avoid duplication in the use of fiscal and physical resources; (i) Local...
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...No. Project: Cards 05SER 03/05/001 Project title: BANAT 22 – Promotion of top 22 tourist locations and events in Banat Organization: Municipality of Pančevo |COMMUNICATION STRATEGY | |Project title: BANAT 22 – Promotion of top 22 tourist locations and events in Banat | |Situation analysis | According to relevant statistical data, the export of (Serbian) Banat tourism services in 2002. presented a mere 0.01% of the total sum of (Serbian) Banat export – despite rich tourist potential represented in natural, cultural, art, historic and anthropological assets of the region. Despite scattered exemptions, the trend of decreasing number of guests in Romanian Banat is evident as well, and all relevant statistics point out the common tourism development problem, both in SRB & ROM. Apart from the economic parameters, the problems in the “perception” sphere are the inadequate utilization of the cross-border Banat tourism resources and potentials, thus making its’ economy (mostly agriculture and industry focused) inflexible and non-competitive in the mid and long term. In this respect, the “Banat” as a tourism brand has yet to be defined and exploited. |Goal of the communication strategy ...
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...the Wedding Project Assignment, undertaken by the Wedding project team. The document consists of checklists, costs, charter, scope statement, Gantt chart, impact matrix, summaries and other project deliverables. The contents of the document will be displayed by each week’s deliverables. Intended Audience Audience: - David Green (Project Integration Teacher) - The Wedding Project Team Members . Table of Contents Document Outline Intended Audience Table of Contents 1 Week 1 1.1 Checklist 1.2 Research of Costs 1.3 Project Charter Version 1 2 Week 2 2.1 Scope Statement 2.2 Work Breakdown Structure 2.3 Gantt Chart 2.4 Model Costs 2.5 Probability Impact Matrix 3 Week 3 3.1 Website 3.2 Money Spent Summary 3.3 Help Chelsea Deal with her Sister 4 Week 4 4.1 Contingency Plans 4.2 Virtifyed Checklist 4.3 Updated (Project Charter, Scope, Gantt Chart) 4.4 New Risk Information 5 Week 5 5.1 Presentation 5.2 Lessons learned 5.3 Wedding Planner Research 5.4 Conclusion (FINAL) 1 Week 1 1.1 Checklist Below contains the wedding checklist and its containments of what’s to be dealt with for the wedding itself. It’s a basic list that has been compiled from the Wedding Project scenario. ...
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