Project Management Understanding The Roles Of Key...

INTRODUCTION In Hemanta Doloi’s arcticle â€Å"Cost Overruns and Failure in Project Management: Understanding the Roles of Key Stakeholders in Construction Projects,† the author suggests project cost management is not the sole responsibility of the project manager, but rather it should also involve key stakeholders of the project such as clients, consultants, and contractors (2013). Project cost management is a process for predicting expenditures, whose success depends on an accurate accounting of all pertinent information, resources, and control over project implementation (Baloi Price, 2003). It’s paramount for a project’s success that these estimations begin early in the design phase of the project and continue to be managed through the project’s end (Doloi, 2013). Incorrect estimations at the start of the project will lead to cost and schedule overruns which will doom the project, but even good initial estimations need to be adjusted along t he project’s path to account for changes and the advent of risk factors (Verzuh, 2012). Controlling changes in cost and time with good estimations, risk assessment, and change control methods will keep the balance of the project management tradeoff between cost, time, and quality so that customers remain satisfied not only with the end result of the project but with the project itself as well. PROJECT COST MANAGEMENT BEST PRACTICES While Doloi’s article focuses on the construction industry, project have general rules that, whenShow MoreRelatedProject Stakeholders And The Importance Of Understanding1261 Words   |  6 Pagesgoing to discuss project stakeholders will identify the types of stakeholders and the importance of understanding understanding them so that better communications can be established project stakeholders are the people involved in or affected by the project activities there either internal or within the organization or external pitcher other companies or agencies that have a vested interest in the project let s look at some of the internal stakeholders internal project stakeholders generally includeRead MoreImplementing Project Management Techniques Essay1275 Words   |  6 Pages There are many methods and techniques for a project manager (PM) can use to run a successful project. Some of these include: identifying the stakeholder’s roles and responsibilities, tracking measureable business outcomes, apply project controls and view monitoring the dynamics of a working project. These project management techniques are used in order to improve the project model in a baseline project plan. As a PM employs these techniques it can help keep track and account for items more efficientlyRead MoreImpact Of The Construction Industry On The Uk Economy1582 Words   |  7 Pagesoutcome of the project being to create a change. With the industry having such a huge impact on the UK economy we have to understand the need to deliver, and how we can deliver successful projects whilst dealing with obstacles correctly; such as the uncertainty of our climax in order to achieve successful results. Today stakeholder engagement/management is one of the most common challenges in the construction industry. There is now a growing need to further engage stakeholders into the decisionRead MoreThe Project Manager Is Responsible For Successful Planning Essay1263 Words   |  6 PagesThe project manager is responsible for successful planning, initiation, design, execution, control, monitoring, as well as ensure an appropriate closure of the project. The role of the project manager in any particular project is arguably the most challenging role within the entire project team. This is simply because they have to adapt appropriately to march the demands of the project as the project goes through the entire life cycle. Notably, a project manager is a person who is in charge ofRead MoreData Analysis And Results Of An Participant Demographic Profile1231 Words   |  5 PagesBackground and Experience The first set of questions aimed at understanding participant demographic profile. All respondents were males with experience ranging from ten (10) to forty (40) years in different projects including marine engineering, processing industry, pharmaceuticals industry, civil engineering and construction projects. Some of the respondents had worked on both national and international projects, and private and government projects, and their insights were very helpful. Their experienceRead MoreHow Stakeholders Affect Stakeholders Have On Projects1363 Words   |  6 PagesIntroduction Stakeholders are one of or the most essential cornerstones of projects. As a matter of fact stakeholders are the reason why projects are commissioned. Project success or failure is interrelated to stakeholders’ acuities of value created by a project and the nature of relationship established with the project team. Someone somewhere needs a service/product; hence a project is required to achieve that; required as long as stakeholders are involved and onboard. This area interests meRead MoreProject Management, Project Communication, And Project Stakeholder Management797 Words   |  4 Pagesareas of project management that stood out while taking this program. Project integrated management, project communication, and project stakeholder management. A discussion on how they are executed will be presented. As more courses were taken during this project management graduate program, many of the project management concepts became clear and revealed more of the interdependencies and intricate dynamics that are required for successful project management. Stakeholder Management Project StakeholderRead MoreHow Project Stakeholders Are Managed1459 Words   |  6 PagesINTRODUCTION This study will investigate how project stakeholders are managed. The aim of this chapter is to introduce the study and key elements that will be considered throughout this dissertation. It provides study’s background information, problem statement, aim and objectives, scope and limitation as well as study relevance and values. Finally, this section also provides dissertation outline adopted by the author. 1.1 Background of the Study A Project is a â€Å"temporary endeavour undertaken to createRead MoreProject Communication Management Plan1419 Words   |  6 PagesProject Communication Management Plan US SAP project-Phase 1 Infinity Oil Gas 5440 n Homewood Blvd Baton Rouge, LA 70821 03/25/2012 Table of Contents Introduction 2 Communications Management Approach 2 Roles 2 Project Team Directory 4 Communications Matrix 5 Guidelines for Meetings 6 Glossary of Communication Terminology 6 Introduction The purpose of the Communications Management Plan is to define the communication requirements for the projectRead MoreImproving The Strategic Goals Of An Organization1621 Words   |  7 PagesProjects are ultimately designed and implemented to make progress towards achieving the strategic goals of an organization. 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Wal Mart Case Study The Challenge of Managing...

â€Å"The Challenge of Managing Relationships with Stakeholders† A Case Study on Business Ethics and Stakeholder Relationships A Report by Abdul Rahman Nawawi Holger Behrens Jurattana Jamkrajang Paphat Kriangthanapha Phikulthong Pangjunan Suttasinee Suebsahakarn Younten Phuntso 53060790 52027564 50019826 52032481 54055255 52047480 53060909 Submitted to Ajarn Nakul Boonrod 29 May 2012 In partial fulfillment for the course: IBC 360: Business Ethics Semester 2/2011 1 Table of Contents Table of Contents Introduction Wal-Mart’s Ranking Response to Various Stakeholders Wal-Mart’s Recent Number of Ethical Issues in the News Improved Ethical Culture Positive Response to Stakeholders What are the relevant Facts? What are†¦show more content†¦The company beliefs is that consumer is the king, the consumer always comes as a first priority. Other stakeholders such as; communities, supplier and employee has been viewed as secondary to low prices for consumer. Wal mart’s ranked based on its stakeholders priority: 1. 2. 3. 4. Consumer Society/Community Supplier Employee Response to stakeholders Customers: Everyday low price (EDLP). Wal Mart philoshophy is to give the lowest price for its customer. Society: Violation of EPA’s Storm water regulations. Supplier: ï‚ · ï‚ · ï‚ · ï‚ · Lowering of prices by at least 5% from one year to next year. Implementation of RFID technology. Dependence for sales due to size and volume of production Movement of production centers to cheaper locations Employee: ï‚ · ï‚ · ï‚ · ï‚ · . Discrimination with disabilities worker Female employee are not treated equally with male counterparts Sweatshop workers with very low wages Low benefits assistance (health program, insurance, housing, child education, additional taxes) 4 Why do you think Wal Mart had a recent number of ethical issues that have been in the news almost constantly? The root of the ethical issues is because of the company is culture is to low the prices by lower the cost whatever the way is. That’s why the ï‚ · Discrimination A stakeholder is a person or a group that has an investment, share or interest in a business or an industry, it can also be classified as anyone that has an influence on the business. There are two types ofShow MoreRelatedWal Mart : The Challenge Of Managing Relationships With Stakeholders1598 Words   |  7 PagesWal-Mart: The Challenge of Managing Relationships with Stakeholders The key facts and critical issues presented in Wal-Mart: The challenge of managing relationship with the interested parties involves making ethical decisions and fulfilling these needs for the stakeholders involved consist of the following elements: ïÆ'Ëœ Admitting to mismanage stakeholder’s relationship within the company as a problem: This type of management involves taking care of the treatment of employees, suppliers, the environmentRead MoreThe Introduction of Private Label Products at Walmart5235 Words   |  21 PagesStrategic project The introduction of private label products at Wal-Mart Abstract In an effort to respond to growing customer needs and enhance their own profitability levels, Wal-Mart decided to develop and sell their own private label products. The strategy behind this change decision was complex and involved a series of factors, such as the rationale for the change, the resources engaged, the strategic steps or the costs and outcomes of the project. These are all assessed throughoutRead MoreWal-Mart Value Creation4782 Words   |  20 PagesWal-Mart’s Strategic Value Creation Darien O’Neal Brandman University Business amp; Professional Studies Business Process Analysis and Innovation BUSU 630 Professor Helen Eckmann April 27th 2013 Statement of the Case Facts The key facts in this case analysis are analyzing Wal-Mart’s weaknesses according to Shahzad Trading amp; Consulting FZE SWOT amp; TOWS statements conducted on Wal-Mart and arguing against their theory of Wal-Mart’s Business Strategy. In stating the problem or opportunityRead MoreImplementation And Evaluation Of Supply Chain Management2237 Words   |  9 PagesIMPLEMENTATION AND EVALUATION OF SUPPLY CHAIN MANAGEMENT WITHIN WAL MART CONTENTS INTRODUCTION 1- SUPPLY CHAIN MANAGEMENT – DEFINITION 2- REQUIRED PLANNING FOR THE SUCCESSFUL IMPLANTATION OF SUPPLY CHAIN MANAGEMENT 3- IMPLEMENTATION AND EVALUATION OF SUPPLY CHAIN MANAGEMENT WITHIN WAL MART 3-1 Procurement and Distribution 3-2 Logistics Management 3-3 Inventory Management 3-4 The Reaped Benefits CONCLUSION REFERENCES INTRODUCTION Wal Mart is considered one of the largest private sectors inRead MoreCompetition and Business Unit Strategy: Walmart and Tesco2824 Words   |  11 Pagesï » ¿Comprehensive Overview Area Competition and Business Unit Strategy: Wal-Mart and Tesco Competitive Strategy Wal-Mart, the worlds largest retailer incorporates two different strategies to ensure business success as well as higher profit margins. The firm uses both differentiation and cost leadership strategies. Wal-Marts slogan of Spend less, Live better is appropriate for the market given the large number of retailers and the availability of substitute goods. In line with this, the firmRead MoreStrategic Implementation of Wal Mart11391 Words   |  46 PagesOrganization Studies. In the field of business administration it is useful to talk about strategic consistency between the organization and its environment or strategic consistency. According to Adieu (2007), there is strategic consistency when the actions of an organization are consistent with the expectations of management, and these in turn are with the market and the context. Strategic management includes the management team and possibly the Board of Directors and other stakeholders. StrategicRead MoreGlobal Marketing vs Domestic Marketing3690 Words   |  15 Pagesfind out what are the challenges that domestic retailers face in the global market. Wal-Mart Stores, Inc. one of the leading retailers in the world also ranks as the biggest corporation in the world. Domestically, Wal-Mart owns more than 1.2 million employees, making it the country’s largest nongovernmental company. With unique marketing strategies and good management techniques, Wal-Mart was able to function effectively not only in US but also in the international market .Wal-Mart Stores, Inc. was initiallyRead MoreGlobalization And Its Effect On Employment Relations1694 Words   |  7 Pageshow companies conduct their business, create value, and generate revenue (Boselie 2010; Breiby Wanberg 2011). With the rise of neoliberalism and globalization, companies such as Enron, Wal-Mart, Lemon Brothers, etc., tells us horror stories of unethical business conducts that ultimately affects all stakeholders involved, including national economies (Lissack Richardson 2003). Thus, due to globalization and its affects on employment relations it has created a number of adverse impacts in areasRead MoreInformation Systems Supply Chain Management6162 Words   |  25 Pagesof RFIDs in individual products: 13 Use of Information Systems enabled Supply Chain Management: Crisis Response: 14 Implementation: 15 Automated Supply Chain Management Systems: 15 Figure: Automated Vendor Managed Inventory Diagram 15 Challenges of Information Systems in Supply Chain Management: 16 Financial Value Analysis: 16 Pricing optimizations: 16 ROI analysis: 17 Section 3.0: Advantages and Disadvantages of Information System in Supply Chain Management: 17 Advantages ofRead MoreEssay about Wal-Mart Seafood Supply Chain Case Study3649 Words   |  15 PagesTutor______________________ | Date _______________ | How should Wal-Mart rationalize its seafood supply chain to reduce costs and promote sustainability? In†depth analysis on the case ‘Wal-Mart’s sustainability strategy (C): Inventory management in the seafood supply chain’. And to analyze ‘How should Walmart rationalize its seafood supply chain to reduce costs and promote sustainability?’ 1. Introduction According to (Anon, 2012) Wal-Mart Stores Inc. is an U.S based multinational retailer that

Future Demand and Price Development †Free Samples to Students

Question: Discuss about the Future Demand and Price Development. Answer: Introduction Natural resources are the gift from nature. The natural resources are extracted and used for various productive purposes. Australia has the blessing from nature with a huge storage of mining resources. The paper discusses demand and supply condition of mineral resources particularly for lithium in Australia. To combat pollution there nations across the world is now focuses on using Electronic vehicles. This increases the demand for lithium used in the battery and gives the opportunity of a price gain. There is initially a supply short fall and the producers need to increase supply to maintain a balanced situation. The paper analyzes this issue economically. In the global market, the demand for lithium is scrambling leaving a path on the iron ore of northern Australia. The work in mines are accelerating to fulfill the rising demand of battery makers globally. Large planned projects are initiated to increases the supply of lithium and retain the position of Australia one of the top suppliers of in the global market. This will help to maintain the grip of Australia in the global market (www.bloomberg.com 2017). The biggest mine is extended about 75 miles from the Hedland Port, which provides a gateway to the Chinas market. The target of Pilbara Minerals Ltd is to start shipment in the second quarter of 2018 from the Pilgangoora project and advances its working for potential expansion. Another company Altura Mining Ltd has scheduled to boost their output. The Wodgina mine located nearly Mineral Resource Ltd is known for its largest lithium deposits. The undertaken projects will form an emerging cluster global production cluster as opined by Althura and Pilbara. The successful implementation of all the emerging projects makes the region worlds largest production hub. The projected time for this to be happen is mid-2020 (www.miningreview.com 2017). The consumers outside the China have shown their interest in recent weeks. These nations include South Korea and Europe. They are now exploring supply deals. The production of electronic vehicles raises Chinas demand for lithium and the energy storage brings considerable price gains. It is projected that by 2040, almost fifty percent of all the new cars and one third of the all the light fleet vehicles globally will be electronic. In the long run the situation is expected to be changed. The other suppliers may emerge in the world market but the position of Australia will remain dominant. In 2027, Australia is forecasted to control about 37 percent of world supply beating Argentian that captures 18 percent share. Australia is continuously stressing importance on the equity investment in mines (www.ft.com 2017). Besides the role of Australia as manufacturer of battery sees progress in terms of exporting high value lithium. One of biggest sport utility vehicles maker of China give its consent to invest in Tawana Resources NL, the Australian developer. Economic analysis of the article Demand and supply are the two most fundamental concept of market economics. Demand is the buyers willingness to buy while supply reflects the sellers decision of supplying in the market. These two forces act to determine equilibrium price and output in the market (Chenayah 2017). When there is any mismatch between the two forces, this affects the price. The world demand of lithium is increasing at a rapid pace. The high demand of lithium limits the miners in the world. The sales of electric vehicles has risen fast. The drivers worldwide experiences the electronic vehicles ramping up the road quickly (Martin et al. 2017). The supply shortage from increasing demand raise the price. The scenario can be described using simple demand supply tool. The initial demand curve is DD and supply curve is SS. In response to high price demand curve shifts to D1D1. This raises the prices from P* to P1. The increasing price attract the investors attention and they invests willing to invest in the mining industry and boost supply. The persistently rising demand attracts multiplier suppliers in the industry. However, the dominant position of Australia remained with projected supply of 37 percent in 2027 (Maxwell 2014). This will keep Australia ahead of other nation. This is expected to stabilize prices in the long term (Friedman 2017). However, the new supply wave still lacks the demand. The anticipated growth outlook of demand keeps the prices still at a high level. The lack of raw materials creates the supply constraints in the lithium market. However, though forecasting is made about a supply ease of lithium by 2020 bur in future the market may face again supply shortage in the future because of the lack of additional capacity to support the market (theconversation.com 2016). Recommendation Australia has the opportunity to take advantage of the rising global demand of lithium. To supply lithium in line with the demand Australia is recommended to develop a system of recycling and create models for to lease the resources. The third position of lithium in the periodic table makes it an important element of battery for electric vehicles. Australia should go for innovation to meet the demand. The government and business should made proper planning for collecting and processing the waste stream. There are growing need for efficiently sorting the system in order to isolate batteries and have a moderate risk for fire. Conclusion The paper discusses supply and demand condition of mineral resources in Australia. The increasing use of electric vehicles raises the demand of lithium. Australia is one of biggest supplier of lithium. The growing demand coming from China, South Korea and Europe. This pushes price in the lithium market up. However, the supply is increasing from multiple sources but still it lags behind the demand and this maintains a high price in the market. Australia should use recycling system and employ model for leasing resources. References Chenayah, S., 2017. Book Review-Fundamentals of Microeconomics.Institutions and Economies, pp.149-150. Friedman, L.S., 2017.The microeconomics of public policy analysis. Princeton University Press. Ft.com. (2017).BHP positions itself at centre of electric-car battery market. [online] Available at: https://www.ft.com/content/367149e8-7ca2-11e7-ab01-a13271d1ee9c [Accessed 25 Nov. 2017]. Martin, G., Rentsch, L., Hoeck, M. and Bertau, M., 2017. Lithium market researchglobal supply, future demand and price development.Energy Storage Materials,6, pp.171-179. Maxwell, P., 2014. Analysing the lithium industry: Demand, supply, and emerging developments.Mineral Economics,26(3), pp.97-106. Miningreview.com. (2017).Lithium supply shortfall caused by electric vehicle boom. [online] Available at: https://www.miningreview.com/news/lithium-supply-shortfall-caused-electric-vehicle-boom/ [Accessed 25 Nov. 2017]. Stringer, M. (2017).Australia's Got a Lock on Supply of the Metal Used in EV Batteries.Bloomberg.com. Retrieved 25 November 2017, from https://www.bloomberg.com/news/articles/2017-10-25/ground-zero-for-lithium-giving-australia-lock-on-global-supply The Conversation. (2016).Lithium: Australia needs to recycle and lease to be part of the boom. [online] Available at: https://theconversation.com/lithium-australia-needs-to-recycle-and-lease-to-be-part-of-the-boom-54037 [Accessed 25 Nov. 2017].

The Strengths And Weaknesses Of Joint Warfare Essays -

The Strengths And Weaknesses Of Joint Warfare The Strengths and Weaknesses of Joint Warfare Armed with numerous studies, and intensive public hearings, Congress mandated far-reaching changes in DOD organization and responsibilities in the Goldwater-Nichols Department of Defense Reorganization Act of 1986. This landmark legislation significantly expanded the authority and responsibility of the chairman, Joint Chiefs of Staff. Included in this expanded authority and responsibility was the requirement for the chairman to develop a doctrine for the joint employment of armed forces. As operations Urgent Fury, Just Cause, and Desert Storm have vividly demonstrated, the realities of armed conflict in today's world make the integration of individual service capabilities a matter of success or failure, life or death. Furthermore, the operation Desert One demonstrated the need for a strengthened Joint Warfare Doctrine and the consequent change in Joint Warfare Employment. It is plain to see the benefits of having the greatest navy integrated with the worlds greatest army and air forc e. However, even in the wake of a relatively successful joint operation in the Middle East (Desert Storm), certain weaknesses are evident in the current joint employment tactics and/or capabilities. By analyzing past operations such as Urgent Fury and Desert Storm, we are able to see sufficient evidence that the Joint Warfare Concept can be disastrous in one instance and virtually flawless in another. Perhaps the biggest strength of Joint Warfare is how it appears on paper. It would be difficult to find someone to debate against combining the forces to achieve total dominance. A defined chain of command with equal representation from all the armed services coupled with standardized clear communication and training throughout the branches, results in an elite fighting force with endless capabilities. Efficiency is the major goal behind Joint Warfare and so long as the clear channels of communication throughout the services hold true, this goal is attainable. This efficiency, though almost impossible to fully achieve, was seen during Desert Storm. During the Desert Storm campaign, General Schwarztkopf was Commander and Chief of US Central Command (USCINCCENT). His first order of business was to name component commanders. All four services were represented and all four wore three stars (Lieutenant Generals and a Vice Admiral, respectively) so that one service didnt have to fight thro ugh ranks to be heard and/or taken seriously. Because of the Goldwater-Nichols Act, unified and specified commanders possessed the full range of authority needed to meet their responsibilities and consequently gained collective strength utilizing unity of command. The fact that the clear channels of communication remained open and that one theater commander (Gen. Schwartzkopf) retained confidence from the President, Secretary of Defense, and the Chairman of the Joint Chiefs of Staff, General Schwartzkopf was allowed to conduct the operation with a smoothness not seen in recent conflicts. Conversely, the idea of Joint Warfare has its weaknesses. Although Joint Warfare seems almost perfect on paper, its realistically imperfect. Take for example, the Desert One operation to free the hostages in Iran. On paper, it looked like everything should come together despite the various forces not training together and not 100% familiar with the equipment they were to use during the mission. It seemed logical to high-ranking officials in Washington D.C. that Navy pilots should be able to fly over land and that marine pilots (which ultimately replaced most of the Navy pilots) could fly the Navy version of the H-53 without any difficulty, regardless of the mission. Unfortunately for those involved, the logic hammered-out by the high-ranking officials in the Pentagon proved to be wrong. The problem of one branch of service taking direct orders from a person in another will persist through future conflicts. How can a General in the Army make a decision for Navy personnel? In turn, how can an Admiral make a decision about a mission conducted my Army rangers? Even though the component commanders in an operation are of equal rank, its only natural for those commanders to argue for and possibly favor their respective branch. Also, with the Navy having a small air component compared to the Air Force in large-scale operations, it seems that the Air Force component commander will command overall air operations. This can result in trouble if the