Questions We Can Help to Answer
Instructions:
CLOUD COMPUTING’S EFFECT ON Originations …in terms of Cost and Management
Questions We Can Help to Answer
Instructions:
CLOUD COMPUTING’S EFFECT ON Originations …in terms of Cost and Management
Components of a door station
A door station is an example of automated network access control system. It is a system positioned at the door of a workplace or homes which is able to make get in touch with the central station only. It communicates only with the central station which is the main station. It contains a discreet video camera together with a doorbell as well as a two way communication system in order to enhance more security mostly in offices and homes. A door station is connected to a television or a security observer and because of presence of the low light cameras it enables the person inside the building observe whoever is at the door. It is made in such a way that the user is able to differentiate between the two cameras inside the door station. It is weather resistance which is environmentally proved where the light is enough for the user to locate the doorbell even when it is dark.
Functions of a door station
It makes sure that communication is efficient inside the house as a result of the comPoint keypads all over the house. It is important as it is used to check the person at the door. It allows communication between the visitor and the owner of the house. This ensures total security inside the house. The communication between the visitor and the owner is efficient such that the visitor is not required to press any button when the conversation is taking place. It is time efficient since it is fast since it uses electricity. It is able to last for long since it is resistant to the weather. It is therefore advocated for since it maintains security in homes and offices and eases communication between visitors and other people.
Summary of the paper
Access control systems are security systems used to control communication between different users with three major principles which include confidentiality, integrity and availability. There are two most important access control methods which include mandatory access control method and discretionary access control method which are used to sustain security in most homes. A discretionary access control enables the owner of the resource to identify the subjects which can access the resources. It enhances security of the owner in a way that the owner decides on which type of subjects to access certain resources unlike in mandatory access. Mandatory access on the other hand is used in the environments especially by military people since confidentiality and availability guide this access since it is based on security classification systems.
Access control
Access is a precise interaction between an object and the subject.
An example of a subject is a person while an example of an object is the device used in the access method.
There are two important access controls namely mandatory access and discretionary access methods.
Access control is guided by availability, integrity and confidentiality as the key basic principles.
Access controls are the security traits which direct how systems and users interact and keep in touch with each other.
Discretionary access control
DAC as commonly known uses the concept of an owner.
Access control is based on the judgment of the holder.
Owners using DAC are able to make decisions which are based on the subjects they chose.
UNIX file mode is an example of DAC which enables the user to read and write.
Another example of DAC is capability systems which allow the owners to make decisions on their own regarding the subject.
Mandatory access control
MAC is commonly used in the environment especially by militants.
MAC is mainly guided by two principles which include confidentiality and availability.
Security labeling system is the basis on which MAC is ensured.
Security clearances and labels containing information classifications are most important for users to have them.
A sensitivity label is the key to every subject as well as an object when using the MAC model.
Main issue to be addressed
The issue of hacking should be addressed by the access control methods since insecurity cases are on the rise.
Strong passwords should be used in order to maintain the information confidential.
Passwords used should be hard to guess since criminals can get access to confidential information
Environment should be well secure using remote sensed systems.
IDS should be employed in order to notice suspicious behavior.
Email accounts should be correct to avoid suspicion by criminals.
Networking By Using Deluge Software
Part A: Briefly identify the key contributions of the paper
The research problem the paper tries to solve is that of networking by using deluge software through data distribution. It tries to find a networking data which will contain large data using a wireless type of current and fast network. Deluge is the most preferred wireless network in this kind of research (Culler & Hui, 2004). The problem of networking is of importance since some networks are not reliable. Deluge is a reliable network and can transmit large data in a faster way using wireless network. The proposed approach to this network problem is the use of deluge software. This software will solve the problems since it highly reliable and relatively fast thereby attracting internet users.
Part B: Try to find if there is any problem in the paper
The assumptions made imply that the wireless sensor networks will support deluge by making it more reliable and increasing its rate of being first. Deluge is also assumed to provide the best performance. The assumptions suggest that broadcasting is naturally slower single path transmission and is identified thereby creating a more firm lesser bound as an open hitch (Culler & Hui, 2004). The single channel transmission in the broadcasting protocol cause delays unlike the wired networks. Wireless networks can cause delays unlike the wired network. The experiment shows that deluge can be used in supporting network programming since it supports multiple objects on every node
Part C: Any idea for improvement
An improvement to be made in order to ensure that deluges performance becomes the best is that of employing an exponential backoff instead of a linear backoff in order to advance the rate of accuracy. This in turn leads to a congestion free network. Adjusting the backoff will ensure that time problem is solved (Culler & Hui, 2004). Adjusting backoff will enable transmission of large data. The new technique should provide transmission time for a page. TOSSIM should be used in case good performance is to be achieved. Wireless networks should remain predictable and reliable.
References
Culler. D, & Hui, J. (2004). The Dynamic Behavior of a Data Dissemination Protocol for Network Programming at Scale.
New Innovations in Batteries
Introduction
Batteries have been a part of the human race for as since their invention. They run almost all gadgets in our lives ranging from the tiniest of watches to the largest truck. However, with time, batteries have kept on changing with humans looking for better ways to increase the durability of the battery. Newer, better, faster and more efficient batteries keep on coming into the market. By the beginning of this year, battery innovation had branched away from the traditional carbon and zinc rod elements and shifted to modern science such as the use of high power computing, nanotechnology, new-print technology and other forms of new science to produce better future batteries. Some of the most recognized new age technological innovations as of the beginning of this year include
Ambri
Ambri, formerly known as the liquid metal corporation, is a product of a company founded by an MIT professor known as Don Sodoway. The company invented the Ambri battery that operates on the basis of liquid metal. Each battery cell consists of three self-separating liquid layers, two metals and a salt, that float on top of each other based on immiscibility and density differences. The system operates at high temperatures maintained by self-heating during charging and discharging. This ensures efficient and low cost storage. The company is located in Cambridge, Massachusetts, in the United States of America.
Envia
Envia systems invented in 2012 a lithium ion battery that is able to deliver an electric car to a 300 mile destination for a cost that estimates between 25 and 30 thousand dollars. The company was able to develop a low cost cathode which was then paired with a silicon carbon anode, and a high-voltage electrolyte. The company is located in Newark, California, in the United States of America.
References
http://gigaom.com/2013/01/14/13-battery-startups-to-watch-in-2013/, Katie Fehrenbacher, January 14th, 2013.
SCRUM Methodology
PART I
Description
Scrum methodology is an approach used in the field of software technology development. This approach or better yet methodology is based on process management. The word ‘scrum’ is defined in English as a formation of players in a rugby game (a tight formation in which the players are united in a specific position). The term SCRUM in software technology, was first coined from a definition by Takaechu and Nonaka. According to these two it would be considered as a kind of ‘black box’. This methodology is an improvement of the iterative and incremental methodologies.
The SCRUM management methodology was developed in order to improve and maintain an already existing production prototype. What this approach does is that it assumes the existence of a project and some source code sequences that always exist in the object-oriented software development due to class libraries.
In essence, scrum may be defined as a framework within which one can employ various processes and techniques…within which complex products can be developed (Schwaber &Sutherland, 2009, p.3).
SCRUM features it uniqueness in form of the fact that it has an ‘empirical process control’. What this means is that it is uses the real world progress of a project to plan and schedule releases rather than guessing or using an uninformed forecast. It also ensures that projects are divided into succinct work cadences, known as sprints. These may last for between one to three weeks. At the end of each sprint, stakeholders and team members are supposed to meet to assess the progress of a project and in necessary, plan their next steps. This essentially allows the project’s direction to be adjusted or reoriented based on the already completed work and not assumption or predictions.
The releases in a SCRUM are usually planned taking into consideration variables such as user requests, meaning the needed improvements to the current system and the time pressure which is the needed timeframe to obtain a competitive advantage over others. Other variables include the predicted actions of the competitions, the work quality needed, the desired vision of the project and lastly the resources-both human and financial-needed for the successful completion of the project. These variables form the initial plan for any information system improvement; however, they can be altered during the project. SCRUM already puts this into consideration these variables and their dynamic nature.
Scrum, which is based on the empirical process control theory, employs an iterative or rather incremental approach to optimize predictability and control risk. It is able to do so through three main pillars.
SCRUM core pillars
Transparency ensures that all aspects of the process that affect the outcome are visible to those managing the outcomes. What this means is that should someone inspect the project and find it done, then it is well and truly done. The second pillar requires that the process have frequent inspections by experts to ensure that unwanted variances are detected and weeded out. The last pillar is adaptation and it requires that if the inspector determines from an inspection that one or more aspects of the process are outside acceptable limits, and therefore the resulting product will be unacceptable, the inspector must adjust the process or the material being processed. This has to be done as quickly as possible to avert further deviation.
SCRUM teams and their roles
A typical scram framework consists of two major components; scrum teams and their roles.
Scrum teams are meant to optimize maximum flexibility and productivity. This means that they are self-organizing, cross-functional and work in iterations. Each scram team has three major roles to play; the Scrum Master is responsible for ensuring the process is understood and followed; the Product Owner is responsible for maximizing the value of the work that the Scrum Team does; and the Team, which does the work.
Key features of the scrum methodology
The SCRUM process is divided into three general phases: planning and system architecture, development sprints and closure. These phases consist of well defined processes that work in tandem to ensure the successful completion of the project. Due to this fact, there are key features that pop up when the scrum methodology is employed. These features are integrated in the development process that makes it strong.
Iterative
The SCRUM process is iterative. This means the project is realized during successive cycles also known as iterations or sprints. This means that the functionality of the product increase during each sprint by adding new functions to the project. This also allows for the project to be open for further development up to the closing phase. Here, the deliverable can be changed at any time during the planning and the SPRINT phase. This allows or the project to remain adoptable to the complexity of the environment including the time pressure, competitive pressure and the financial and quality pressures that would be involved in the project management.
Flexibility
The planning and closure phases consist of processes very well known and defined. This allows for the project to be more flexible. The sprints flexibility allow for use of explicit knowledge about the process where applicable and where not possible the use of trial and error.
Unpredictability
The SPRINT phase processes which are undefined, uncontrolled, nonlinear and unpredictable. In short, the phase is impossible to control and as a result the phase is treated as a black box that needs no external control whatsoever. This control, which includes risk management, is however automatically placed on the iterative of each sprint to avoid chaos and to maximize flexibility.
Adoptability
The SCRUM process is not isolated from external factors such as financial, time, or competitive pressure up to its last phase. It can easily adapt to changing environmental conditions. The deliverable of the project is always based on the environment during the project.
Consistency
Scrum process is reviewed as often as necessary. This allows for the team to be able to work changes in or out of the project to be able to better the quality of the final product.
Where in terms of projects, SCRUM has been or is being used
The scrum methodology has been applied in a number of fields since its inceptions. This fields range from application in the successful running of big company projects such as the expansion of Google, the increase of sales in companies such as IBM or even the implementation of a web based application, to small individual matters such as wedding planning or house moving. The key issue if one wants an alternative that is watertight and with lesser failure rates then scrum would be the way to go.
PART II
Difficulties that may associated with SCRUM
The first potential weaknesses of SCRUM, is highlighted in the literature by Highsmith and Cockburn titled The Business of Innovation, this literature points out the fact that, when the project is developed for an external client, they have to be greatly involved in the project in terms of time input. This means that the client has to be able and available to test the monthly/periodical releases or deliverables, and to be able to suggest new or modified functionalities.
There is also the fact that in the projects using SCRUM, the vision of the client highly influences the developments outcome. Highsmith showed that if the client does not have a clear sense of the product’s direction, then, members of the development team will probably behave in the same manner, leading to a difference in the final production than what was originally anticipated. This in essence makes a one greatest strength of scrum its potential weakness.
The clients’ lack of ability to intervene in the project is also another potential weakness of SCRUM that may crop up over a relatively long period in. Although in principle this may look like an advantage, there have been situations in software development where the client’s intervention has to be done within a SPRINT. The risk over the project is usually significant if the methodology cannot accommodate specific interventions.
The small size of the project team can also be considered an Achilles' heel. This weakness is experienced in the way in which the methodology approaches large projects is easily viable with large teams but not easily implementable.
SCRUM has another potential weakness in that, it is very difficult to estimate a projects estimated duration or its eventual cost; where external clients are involved, it will be hard to ascertain in cases where bidding is used to determine the contractor for projects. This may offer a major hindrance when utilizing SCRUM.
SCRUM versus PMBOK
Project initiation
When initiating the program in PMBOK, Project value is assessed and has a fixed budget, the initial scope is defined meaning there is a fixed scope, resources are allocated and timeline is determined. Afterwards Stages and gates are revisited depending on the project. On the other hand in SCRUM, the Vision is established, goals are determined/set, teams are identified and timeline is determined. The vision of this project is revisited at the beginning of each iteration.
Planning and execution
In PMBOK, Subsequent project plans are initially created and updated throughout the project at the very beginning of the project while in the other, a release plan is done in the beginning and later sprints are planned throughout the project. On the other hand, in SCRUM, a Team Driven Development team works on product backlog that the product owner. Teams then advise the Product Owner which stories can be done during the sprints. In PMBOK on the other hand, High-level plans are created and updated throughout the project. There are also Signoff and approval from stakeholders for work to start.
Monitoring and closing
In SCRUM, the Time and Cost is Change is depending on the business need of the customer. During closing of the project, there is no formality on feedback because it given throughout the project. On the other hand, in PMBOK, Time, Cost, Quality, and Risks are constantly monitored throughout the project while at the end of the project, a Formal process of closing the project signoff and approval from sponsors and stakeholders is held and a Lessons Learned meeting is also held to determine and provide feedback on the project.
Integration of SCRUM and PMBOK
There are a few major similarities that both this systems share. Both deliver the right thing, both insist on communication during the project both offer progressive elaboration and finally both are cyclical meaning they insist in following the method of plan, execute, monitor and control.
Therefore, if one was to take the key strengths of SCUM which include efficient self-organizing team Collaboration, shared responsibilities and commitments, Allowance for adjustments and the learning of more to produce better results, Risk management ,smaller units of work fewer surprises, accurate Frequent checks & delays and Welcoming customer opinions. And the strengths of PMBOK which include Process oriented Clear project kickoffs & administrative initiation Enumeration of stakeholders, formalized communication planning and More explicitly calls for cost management Outlines risk management approach which include identification, qualitative and quantitative analysis, response planning.
When the strength of this two are brought together as was the case of Yahoo Company, then they would provide sufficient outcomes such as quality delivery of what was promised, flexibility within sprinters and higher levels of involvement and time management which would translate to greater satisfaction.
PART III
Project Management Methodology
In the modern sense Project management began in the early 1950s, driven by businesses that realized the benefits of organizing work around projects, and the critical need to communicate and co-ordinate work across departments and professions. At the time Communication and collaboration were the solution for establishing productive work relationships between the teams and departments within similar organizations. However, the most recent definition of Project Management Methodology is that it is a strictly defined combination of logically related practices, methods and processes that determine how best to plan, develop, control and deliver a project throughout the continuous implementation process until successful completion and termination. It is a scientifically-proven, systematic and disciplined approach to project design, execution and completion. The purpose of project methodology was to allow for controlling the entire management process through effective decision making and problem solving, while ensuring the success of specific processes, approaches, techniques, methods and technologies. Typically, methodologies provide skeletons for description of every step in depth, so that a project manager knows what to do in order to deliver and implement the work according to the schedule, budget and client specification.
References
Ibbs, C 2000, 'Assessing Project Management Maturity', Project Management Journal, 31, 1, p. 32, Business Source Complete, EBSCOhost, viewed 17 April 2013.
Ionel, N 2008, 'CRITICAL ANALYSYS OF THE SCRUM PROJECT MANAGEMENT METHODOLOGY', Annals Of The University Of Oradea, Economic Science Series, 17, 4, pp. 435-441, Business Source Complete, EBSCOhost, viewed 17 April 2013
Lee, RC 2012, 'The Success Factors of Running Scrum: A Qualitative Perspective', Journal Of Software Engineering & Applications, 5, 6, pp. 367-374, Computers & Applied Sciences Complete, EBSCOhost, viewed 17 April 2013.
Khan, A, Qurashi, R, & Usman Ali, K 2011, 'A Comprehensive Study of Commonly Practiced Heavy and Light Weight Software Methodologies', International Journal Of Computer Science Issues (IJCSI), 8, 4, pp. 441-450, Computers & Applied Sciences Complete, EBSCOhost, viewed 17 April 2013.
Munns, A. K., and Bassam F. Bjeirmi. "The role of project management in achieving project success." International journal of project management 14, no. 2 (1996): 81-87.
De Wit, Anton. "Measurement of project success." International journal of project management 6, no. 3 (1988): 164-170.
Vodafone telecommunication services in UK
Introduction
Vodafone is one of the leading providers of telecommunication services in UK. The company has been doing well in the UK market having approximately 19.2 million subscribers. The company operates around 365 stores that sell mobile handset. The management of the company has committed effort towards ensuring that the company continues to acquire a large proportion of the market share. In relation to this the management has launched schemes such as the Rewardz aimed at ensuring that each time pay as you go customer tops up balance is given a chance to win an instance reward. The company therefore serves as one the best example that can be used to show the importance of environment analysis. This report therefore illustrates the importance of scanning, evaluating, monitoring and disseminating and forecasting of the environmental factors that affect the business. In this case the report first analysis the influence of these environmental factors on the business. The report also analyses the one of the product from the company in relation to theory of demand and supply.
Part 1
Identify the widely-recognised sources of influence which impact on the 21st century business and apply them to a business of your choice with supporting evaluation
Business environment has a direct relationship with an organization. This is because the success and the failure of a business are determined by the effectiveness of the how it interacts with its environment. The business environment is also dynamic since they constantly change. In addition different environmental factors affect different firms different. In relation to this one business may welcome a certain environmental change while other business may feel the adverse effects of these changes. In this case the following are some of the environmental factors that affect Vodafone Mobile Phone Company
Analysis of external sources that influence the impact company using the PESTLE
Political
The political environment in any country influences the business in various ways. This is in relation to the political organization, philosophy, government ideology, and country political stability (Henry, 2008, p.51). The government foreign policies, and the image of the leaders internationally also influences the business in various ways. In addition, the country legal system creates the rules and various frameworks that a business operates. The various government policies may also support and encourage the growth of a business; however other policies may limit the growth of a business. It is important to note that the government policies available in UK have helped to promote the growth and development of Vodafone in the country. The political stability in UK has also promoted the growth and development of the company.
Economic
Analysis of the economic environment also plays an important role in ensuring that business achieves their target. These economic factors include factors such as the country economic systems, its structures, economic policies, how the capital market is organized among other factors (Henry, 2008, p.54). In order for an organization to be successful the management must ensure that they effectively analyze the economic factors and anticipates the prospective market situations. In this case the management of Vodafone needs also to analyze the levels of inflation in the country before determining the final price of their products. This can help in ensuring that the company is able to minimize their cost and therefore maximize on the profit
Social
The social factors also impact the business in several ways. In relation to this the management of the Vodafone must first ensure that they study the various changes in the growth rate and the age profile. This can therefore help to ensure that they device the most effective ways of addressing these change. The shift in the attitude of the people on what is likely to happen may also impact the management of the Vodafone. This is because the business may be forced to adopt new measure in order to prepare for such changes. The various job trends may also impact the Vodafone in several. This is because the management must ensure that their employment policies adhere to the current market trend.
Technology
The technological factors also play an important role in determining the success of a business. This implies that the management must ensure that they monitor and implement the various technological changes to ensure that the business is able to continue making profit. In this case there have been various changes in the technology in the mobile phone industry, which has in turn led to the invention of new mobile phones with advanced feature. Analysis of the current trends in the technology can help the management of Vodafone to come up with products that meet the market demands.
Legal
Legal factors refer to the various laws, regulations and legislation that may in turn affect the business. Various changes in the current legislations and laws may impact the business in several ways. For instance the change in the employment laws may affect the performance of the business. This is because the business may be forced to comply with the new laws. In addition changes in the taxation regulation may also have an impact on the management of Vodafone. This is because the management must ensure that the implement the necessary strategies to ensure that the business continues making profit.
Environmental
The environmental factors refer to the various ecological factors that will affect the demand for the company products and how the business operates (Murray-Webster & Williams, 2010, p.88). In relation to this the management of the company must ensure that they comply with the various environmental regulations. For instance the management of Vodafone was forced to establish a handset-recycling program that aimed at encouraging the customers to dispose their handset well first.
Part2
Select a product or service that is offered by the business selected in part 1 and explain and illustrate the theory of supply and demand as it applies to the business product or service and include and identify the extent to which the selection is price elastic
The Vodafone offers provides various products and services to its consumers ranging from handset such, the smart phones, voice messaging services, among. One the brand of the smart phone can be used to illustrate the theory of demand and supply.
Theory of demand and supply
Supply refers to the quantity of the product that the producers are willing to able to make available in the market at a given price in a given period (Baumol, & Blinder, 2011, p.66). On the other hand demand refer to the quantity of a given product that the consumers will be willing to buy and able to buy at a given price. The law governing the supply of the product states that as the price of the commodity rises the producers usually expand their supply on to the market. This law is governed by the fact that when the prices of the product increase the producers normally become more willing to increase their supply in the market. In addition when the production cost increase the suppliers are forced have to raise their price to compensate for the high prices. A new errant in the market may also cause the other business to lower their supplies. According to the law governing the demand supply states that as the supply increase the price will tend to increase and as the demand increases the price will tend to increase and vice versa. When the demand and supply are in balance the economy of the country is termed is said to be equilibrium.
Analysis of the demand and supply of the smart phones sales by Vodafone
When the demand of the smart phones increase and the supply remain unchanged there is a higher equilibrium price (Fisher, 2007, p.13). In this case the prices of the smart phone increases since there are more consumers will be willing to purchase the smart phones. This implies that the company may be earning a lot of profit in such a situation. In the case where there is a decrease in the demand and the supply remains unchanged there occurs surplus of the product in the market leading to lowering in the equilibrium prices. In this case therefore the company is unable to realize an increase in profit.
In the case where the demand of the smart phone remains constant and the supply of the smart phone from other provides also increase such as the Apple increases, the equilibrium prices of the phone reduces. In such case there is a decrease in the equilibrium prices and therefore the company is unable to realize any increase. In the situations where the demand of the smart phones remains constant while the supply of the smart phone decrease the equilibrium price increases. This therefore implies that in such a situation the management of the company is able to realize an increase in their profit.
Stakeholder’s theory
This is a theory of organizational management and the business ethics that helps to address the various moral value of an organization. The basic idea in the stakeholders’ theory is how an organization should be and how it should be conceptualized. In relation to this the organization itself should be thought of as a grouping of the stakeholders and therefore the purpose of the organization being to manage the interest of the shareholders. Donald and Preston broadly divided the stakeholder’s theory into three concepts (Banerjee, 2007, p.26). The first concept is the descriptive. In this case the theory describes that the organization constitutes a large group of people with different interests and demands. This therefore implies that the management must ensure that they cater for each and every need of the stakeholder in the organization. Second concept in the stakeholder’s theory is the concept of being instrumental. In relation to this the management of the management must ensure that the organization makes profit and earns revenue. The third concept in the stakeholder’s theory is the normative nature in that it recognizes that groups other than the shareholders, employee, suppliers, and customers are also legitimate stakeholders in an organization. In addition, the normative concept of the theory promote the idea that the vision and the ideas of the managers should be mainly be interested in ensuring that an organization is able to responds to the needs of the shareholders.
Moreover according to this concept of the normative the management must ensure that they the decision they make adhere to the principles of ethics. This therefore implies that the management must ensure that they value the impact of the any decision they are about to make. This can in turn help to ensure that all the decision made follow the principles of ethics. In relation to this, a firm should ensure that they do not ignore any claim from the stakeholders. The application of this theory therefore helps to ensure that the firm is not merely making profit but also involved in responding to the interest of shareholders.
Conclusion
From the above it is evident that careful analysis, monitoring, evaluation of the environmental factors can help to ensure that the Vodafone is able to continue making profit. The analysis of the environmental factors is important since it help to ensure that the management is able to respond appropriately depending of their on their influence. In this case the management of the company needs to respond to the changes in technology and ensure that they incorporate these changes in the products and services. The management must also ensure that they respond appropriately to the changes in social factors such changes in the people attitude towards a certain product. This can help to ensure that the organization continues making profit. Moreover, it is also important for the management of the organization to ensure that the carry out a detailed study of the demand and supply of the various product in the mobile industry. This can help to ensure that the organization is prepared for the various changes in the demand and supply. Another important point to note is that application of the stakeholders theory can help to ensure that the organization continue to meet the needs of all the stakeholders.
Reference
Banerjee, S. B. 2007. Corporate social responsibility: The good, the bad and the ugly. Cheltenham, UK: Edward Elgar.
Baumol, W. J., & Blinder, A. S. 2011. Macroeconomics: Principles and policy. Australia: South- Western, Cengage Learning.
Fisher, B. 2007. The supply and demand paradox: A treatise on economics. North Charleston, S.C: Book Surge.
Henry, A. 2008. Understanding strategic management. Oxford: Oxford University Press.
Murray-Webster, R., & Williams, G. 2010. Management of risk: Guidance for practitioners. Norwich, England: The Stationery Office.
Project Management
Project management refers to the process of tackling new grounds and bringing individuals together in order to achieve a clear goal more quickly and proficiently (Reiss, 2007). It refers to the shared set of standards, philosophies, procedures and methods- the governance, which enable the project management panel to deliver a successful project (Paul, 2011). Project refers a short-term endeavor with a defined start and end, which is pursued to achieve a common goal and purpose. The basic idea in a project involves making a positive contribution, add value or make a change.
Project management involves various processes, which include project planning and project scheduling. Other stages include implementation, monitoring and controlling (Paul, 2011). In the planning stage, the manager identifies and states the content of a project and the main objectives of carrying out the project. He then identifies the appropriate individuals to assign the work in terms of qualification and competent. Project scheduling stage involves stating all activities, their relation, how the tasks will be pursued and the time required to complete the project. The manager also defines the number of individual and the amount of money required to perform the task. In the implementation stage the manager provides the required resources and the work begins. In monitoring and control stage, one supervises the work to ensure that everything goes as required and finally appropriate measures are taken where necessary.
Every individual, company or country exercises project management in day to day activities (Reiss, 2007). One may decide to build a permanent building and on the other hand, a company may decide to open a new branch to increase sales and profit. All these are projects that require proper management in order to realize them. As the project management involves tackling of new ideas, this means that there are new problems that an individual is likely to encounter. Most of those challenges may require things that an individual is sort of. An essential example includes time and finances (Reiss, 2007). Therefore, it is important for an individual to solve challenges that he/ she can foresee before the project is compromised to prevent failure.
Reference
Paul, R. (2011). Effective Project Management: Identify And Manage Risks Plan And Budget Keep Projects Under Control. New York: Kogan Page Publishers
Reiss. (2007). Project Management Demystified. New York: Routledge.
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