The Role Of Different Projects Management Techniques

ABSTRACT: The role of different project management techniques Is to implement projects successfully has been widely established in areas such as the planning and control of time, cost and quality. In spite of this the distinction between the project and project management is less than precise. This paper aims to identify the overlap between the definition of the project and project management and to discuss how the confusion between the two may affect their relationship. It identifies the different individuals involved on the project and project management, together with their objectives, expectations and influences. It demonstrates how a better appreciation of the distinction between the two will bring a higher possibility of project†¦show more content†¦the Thames Barrier, the Fulmar North Sea oil project or Concorde, all of which turned out to be relative successes, even though the project control aspect of them failed. It can therefore be argued that the relationship between the t wo is less dependent than was first assumed, and in order to measure project success a distinction should be made between the success of a project and the success of the project management activity. This paper attempts to provide a logic for the distinction between project management and the project. Starting from a definition of the two terms, it will outline the factors which affect their success, the individuals involved and their respective orientations and the relationship between these elements. It also discusses the implications of the situation where the project fails but the project management process is perceived to have succeeded or vice versa. Project success or failure: The definition of a project has suggested that there is an orientation towards higher and long-term goals. Important parameters within the goals will be return on investment, profitability, competition and market ability. A range of variables and factors will affect the ability to achieve these goals, which have been identified by various authors. The following list has been derived from the writings of Cash and Fox 4, Baker et al.5 6, Kerzner 3, Wit 2 and KumarT:

Free Rider Problem Essay - 1128 Words

The Free Rider Problem The free rider issue has become one of the most serious economic issues today. The free rider is a lazy type person who wants the benefits that others bring in without having to do the work. The free rider typically takes advantage of a public good. Living in a civilized society presents many opportunities for free riding, which we have yet to find a way to control. Economists regard the possibility for free riding as a problem for the free market, which usually leads to government intervention. Government intervention is not generally needed in a free market society but in this case if there were no government intervention this problem would not find a solution. The free-rider issue is often seen as a†¦show more content†¦The free rider wants anything he can get for free and will think nothing of it if he can get away with it. Free riders take advantage of public goods without having to contribute to them. For example, if society decides to encourage people to use les s of a product and many people actually respond to this call, the products market will improve. Although the free rider may continue using this product, he will benefit. This creates a tremendous problem for activists who attempt to start a movement to improve the environment. Many people, seeing no incentive to join personally in the movement, just continue behaving the way they did before and yet reap the benefits of other peoples work. When everyone acts as a free rider, no benefit at all will come from the proposed action. Because it is in everyones personal interest not to participate in the collective movement, the movement is highly vulnerable to failure. Though society as a whole may try to conserve a resource, the free rider can easily take advantage of this by not participating in the conservation effort. Those who believe in the concept of the free rider and the problems such people create might advocate government policy to require everyone to take part in efforts to improve the environment. Such people might contend that government action is the only fair and reliable way to prevent environmental problems. David Hume recognized the free-rider problemShow MoreRelated Free Rider Problem Essay1137 Words   |  5 PagesThe Free Rider Problem nbsp;nbsp;nbsp;nbsp;nbsp;The free rider issue has become one of the most serious economic issues today. The free rider is a lazy type person who wants the benefits that others bring in without having to do the work. The free rider typically takes advantage of a public good. Living in a civilized society presents many opportunities for free riding, which we have yet to find a way to control. Economists regard the possibility for free riding as a problem for the free marketRead MoreRelation Between Relation And Social Capital Of The Act Of Reciprocation )1448 Words   |  6 Pagesthey reciprocate by helping one another to gain confidence. Romantic relationships contain many examples of risk reduction reciprocity, but there is also potential for free riding. For example, free riders could be cheaters, lovers that don’t reciprocate affection, partners that desire lust over love, etc†¦, and with these free riders the risk reduction reciprocity is either ended because the rela tionship has ended or due to causing an increase in cost and risk for the other person and themselves throughRead MoreThe Risk Reduction Reciprocity Model1435 Words   |  6 Pagesmodel to explain the formation of certain romantic relationships and friendships. Marshall Sahlins (1972) describes three forms of reciprocity. These definitions that he has laid out will be beneficial in understanding risk reduction reciprocity and free riding, which will be later covered in research that will be presented later. The first type of reciprocity Sahlins (1972) describes is to as â€Å"transactions that are putatively altruistic on the line of assistance given and, if possible and necessaryRead MorePublic Goods Have Two Distinct Aspects : Nonexcludability And Nonrivalrous Consumption828 Words   |  4 Pagesâ€Å"To the extent one person in a geographic area is defended from foreign attack or invasion, other people in that same area are likely defended also. This makes it hard to charge people for defense, which means that defense faces the classic free-rider problem. Indeed, almost all economists are convinced that the only way to provide a sufficient level of defense is to have government do it and fund defense with taxes.† Public good vs private good. A private good in comparison is a competitor and excludableRead MoreAnalysis of The Logic of Collective Action Public Goods and The Theory of Groups by Mancur Olson745 Words   |  3 PagesTheory of Groups by Mancur Olson Mancur Olson, wrote The Logic of Collective Action Public Goods and The Theory of Groups, throughout the book Olson discusses such topics rationality, group size and group behaviour, public goods, free rider, collective action problem, and selective incentives. Olson’s world-renowned book is full of useful knowledge and opinion concerning world politics. After reading this valuable text I feel both enlightened and baffled concurrently. Olson’s beliefs in the politicalRead MoreEconomics in the United Methodist Church776 Words   |  3 Pagespossibly improve their situation. The problems include people treating the church as a free rider program, the church being used as a common pool resource, and people acting so that the church becomes a tragedy of the commons. Near the end, a solution will be offered, and it will be explored whether this solution lines up with the church in a normative manner. The first problem (of many) that churches sometimes face is that of a free rider problem. A free rider problem is defined by Princeton as â€Å"thoseRead MoreThe Burden Sharing Behavior Of Gulf Cooperation Council ( Gcc )1578 Words   |  7 Pagesmembers. In accordance with the logic of collective action, I tested the hypothesis that small alliance members will be free riders. I show that the Vector Auto Regression (VAR) model captures the dynamic feature of GCC’s behavior. The findings show non-cooperative behavior among GCC members concerning their level of military burden towards Iran, and small members of GCC who are free riders on the military burden of others. The Arabian Gulf represents an important region for global and regional powersRead MoreOrganizational Architecture And Corporate Culture1799 Words   |  8 Pageschoices concerning product innovations in the company. He finds that he is overworked and that several of his research scientists seem to be spending work hours playing tennis. What is going on? Specifically, Billy Riggan is experiencing a â€Å"free-rider† problem with his fellow research scientists. Moreover, Billy is dealing with a sense of responsibility due to the fact that he is the one in charge of making the choices on product innovations and technological developments. However, the other researchRead MoreDeforestation Is Infrastructure Expansion ( Geist Lambin ) Essay1374 Words   |  6 Pagesillegal extracting activities are especially problematic because they allow for further abuse and destruction to this environment. International development agencies and corporations, such as the World Bank, must also be looked as actors to this problem. They have contributed millions of dollars â€Å"into dams, highways, power development, and transmigration schemes† (Speth Haas, 2006, 31). These organizations encourage foreign investments to be taken place so as to expand extraction operations (SpethRead MoreWhat Solutions Are Possible to the Free Rider Problem, Both Inside and Outside of Government2176 Words   |  9 Pagestotal return. They include government, corporate, mortgage backed, and Yankee bonds with maturity over a year. 16-26 Passive Bond Management (Continued) – They are not easy to replicate however: †¢ There are more than 5000 securities. †¢ Rebalancing problems †¢ Immunization – Banks and pension funds in general try to protect their portfolios from interest rate risk altogether. – Banks try to protect the current net worth (net market value) of the firm against interest rate fluctuations. – Pension funds

Mini Case free essay sample

Deals-R-Us Brokers (Part 1) Fred Jones, a distant relative of yours and president of Deals-R-Us Brokers (DRUB), has come to you for advice. DRUB is a small brokerage house that enables its clients to buy and sell stocks over the Internet, as well as place traditional orders by phone or fax. DRUB has just decided to offer a set of stock analysis tools that will help its clients more easily pick winning stocks, or so Fred tells you. Fred’s information systems department has presented him with two alternatives for developing the new tools. The first alternative will have a special tool developed in C++ that clients will download onto their computers to run. The tool will communicate with the DRUB server to select data to analyze. The second alternative will have the C++ program running on the server, the client will use his or her browser to interact with the server. We will write a custom essay sample on Mini Case or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page a. Classify the two alternatives in terms of what type of application architecture they use. b. Outline the pros and cons of the two alternatives and make a recommendation to Fred about which is better. Mini Case 1 Solution The second alternative will use the host-based architecture. Using this alternative, the server will do all the work. Because of this, the server will become very slow in processing those requests as more users are sending them. It cost a lot of money to upgrade those mainframes. The first alternative will use the client-server application architecture. In this case, the server and the client computer will share the workload. The server will be able to respond to many users’ requests without any slowness. This is the best option Fred needs to use for his business.

Competitive Strategy for Food Industry- MyAssignmenthelp.com

Question: Discuss about theCompetitive Strategy for Food Industry. Answer: Food/ Beverage industry Coca Cola Coca Cola has been one of the famous food and beverage industry for the past two decades. The company has earned huge reputation in the field. The AAA framework has been effective from the point of view of the company. Adaptation This strategy actually helps the company to adapt the location of the business in order to make the business successful (Morekar, 2011). Coca Cola mainly targets to grab the entire food and beverage market wherever it sets itself to do business. It is obvious that the company must be used to with the environment of the place. They must understand the demand and needs of the customers in order to satisfy them. The items which are famous in the local ambience, the company must put all its concentration to keep enough supply of that particular product. Adaptation is actually divided into five parameters where each of the parameter defines the actual activities of the company. The first parameter is Variation in which the company must keep varieties of products in order to satisfy large scale of the customers. The second parameter is Focus where the company must set its target audience and keep all its focus on those customers. Third parameter as in Externalization says about networking and franchising where the products and the company must build up strong relationship with the demands of the customers. Design is the fourth parameter which says about the outlook of the company and its way of presentation. It actually the parameter through which the customer are attracted towards the company. Last parameter is Innovation where the business must generate innovative ideas in order to make the organization more creative (Mayer et al., 2012). Aggregation Aggregation strategy actually seeks to achieve economic scope by creating global efficiencies. It means the company and the employees of the company increase their efficiency in order to be perfect for the market scenario. The standard of the products are increased while maintaining the value internationally (Sarlak and Hastiani, 2011). The costs of producing the products are brought down in order to make more profits from the market. There are some global organizations like Coca Cola who have followed the aggregation instead of adaptation just to lower the cost of productivity. They have taken the raw materials from those places where labor charge and material costs are less. This is what people actually term as aggregation. Coca Cola have been aware of this strategy and have used this strategy in many parts of the business. Aggregation is all about bridging or connecting different market (Lemmerer and Menrad, 2015). Arbitrage This strategy neither follows to link up different market or it doesnt adapt the market. It simply focuses on the market and tries to maintain the standard of the products by comparing the specifications of the product with other products in the market. One can simply buy a product from a place where the price of the product is less (Schultz and Cohen, 2010). After buying the product it can be sold to some other places where the customers are ready to pay more for the product. This scenario actually needs to be defined by four parameters. Cultural parameter says about the cultural part of the country which can affect the business in many ways. Administrative parameter says about the taxes, regulations and securities of the business. The third parameter is the geographic parameter where distances and climate differences can affect the business in many ways. The fourth parameter is the most crucial one and that is economic (Schultz and Cohen, 2010). The economy of a particular country can take the business to a different level if it supports the scenario of the business. Keeping all the parameters in mind a business can easily follow arbitrage strategy in order increase the span of the business. Cadbury Another company in Food and Beverage industry is Cadbury which has earned its reputation in the field of producing quality chocolates and many other food items. Adaptation It is also the same strategy as the previous one. There are multiple companies in the field who produces chocolates and those companies are famous in different region of the world. It is o because those companies are able to fulfill the demand of the customer of particular region. Cadbury also have adapted the demand and criteria of the customers in different parts of the world and that is why the company is in the primary chocolate producing company list. The five parameters of variation, focus, externalization, design and innovation can be implemented as the terms mean. With the varieties in the products, perfect communication with the customers, attractive design to attract the customers and innovative ideas can help Cadbury to adapt the market scenario in a perfect way (Seo, 2016). Aggregation There are different market scenarios in the field of business and the companies must connect all the scenarios in a same place for the betterment of the organization. It can be said that sometimes companies like Cadbury prefers aggregation strategy over adaptation strategy to be more effective and unique in the field. Aggregation strategy actually suggests company to buy raw materials from the low cost market to make the productivity more profitable (Ayub and Patel, 2011). This strategy actually guides the company to increase the scope of economy by increasing the efficiency of the employees and the performance of the organization. Arbitrage This strategy neither concentrates on adaption nor does it concentrate on aggregation. It is actually the way to create the global value by exploiting the different parts of the market. There is a say that many companies have followed this strategy and have decided to buy materials from lower price places and have sold them in those places where the prices of the products are high. The cultural, Administrative, Geographic and Economic parameters are very crucial in this part of strategy. Every single of the above mentioned parameters can help Cadbury to build a good platform of business in different parts of the world. The companies actually have to find the demands for the products by which they will be able to serve the customers with the desired products (Borrowing costs, 2009). ICT Industry Apple Inc This industry is mainly known as the information communications technology industry where there are several companies. The most common and worldwide accepted company is Apple Inc. Adaptation Adaptation in this case can be described concerning the technologies of a particular country in which the company is going to set its business. In the field of information communication technology Apple Inc has earned enough reputation while connecting the customers through their technologies. The needs and demands of the customer can be reached through the specification the phones give and this is called adaptation (Andreou, 2012). There are five parameters of adaptation through which the company can adapt the market scenario in order to reach the demands of the customers. Variation is the first parameter where the company must make variety of products to satisfy different customers in the market. Focusing on the market scenario and the target customers is the second parameter of adaptation that helps the company in an effective way. Externalization helps company to be connected with various customers in the field and it is considered as the third parameter in the field. The outlook of the products and the companys outlet can be termed as the fourth parameter. This parameter is known as design parameter. The importance of this parameter is that it attracts the customers by it presentation. Last but not the least innovation which is considered as the fifth parameter of adaptation and help the business to carry out innovative ideas for the sake of the company (Chiang et al., 2011). Aggregation This strategy actually helps the employees of the company to increase their efficiency in the field. There are many situations in the market field where Apple Inc have chosen aggregation strategy over adaptation (Seong-Goo Ji, 2014). The main effectiveness of this strategy is that it can lower the cost to buy raw materials from the market. It actually helps the productivity cost to be decreased and profit to be increased. Aggregation strategy can help the business to understand the economic scale and spread the business in an effective way. Arbitrage Arbitrage strategy neither does deal with adapting the market scenario nor does it deal with the efficiency of the employees in the organization. The main motto of the company is exploiting the market in order to increase the value of the company globally. It is obvious that in many stages Apple Inc have followed this strategy in order to buy the raw materials for the productivity. This strategy actually tells to buy products from low cost market and sell those products in high cost market. There are four parameter of the strategy through which the strategy can understood easily. The cultural parameter helps the company to know about the ethics and cultures of the customer of a particular country that helps the company to make the business strategy more effective. Administrative strategy tells the company to be aware about the rules and regulations of the market place or the country (HURD, 2012). Geographic parameter helps a particular company to know about the geographic location of the customer which helps the company to know about the demands and ongoing trends in a particular locality or area. Economic parameter says about the economic condition of the country that affects the company effectively. Apple Inc has always kept these parameters in mind and that is why the company has been successful in the business field. Samsung Samsung is another company in ICT field which also have been effective in the field just after Apple Inc. Adaptation The company has been maintaining the position just after Apple Inc and the company serves their products to all the customers in different level of the society. This is called adaptation that is maintained by Samsung in an effective way. The company actually focuses on different level of the customers and makes their products for every single customer in the field. Keeping the financial condition of the customers in mind the company creates variety of products for all level customers. The Variation parameter is maintained by this company most effectively (Lim, 2010). The variety in products and focusing all the customers in the market has made the company famous among all types of customers. Externalization, design and innovation are the rest of the parameters where Samsung have reached effectively. Aggregation In order to be effective in the market it is obvious that the company have to become aware about the economic scales. It actually increases the efficiency of the employees in the company which helps the company to make their strategies more effectively. The raw materials in this strategy are bought from the low cost market which increases the profit and productivity of the company(Tanuku, 2009). This strategy actually connects every segment of the market all together in order to make the company understand about marketplaces. Samsung have chosen this strategy in place of adaptation in many cases. Arbitrage This is a total different strategy that does not care about being connected in the market segment or adapting the market scenario. It cares about raising the standard of the company to international level so that the company is able to make international business effectively. The main effectiveness of this strategy is to buy products from low cost market and sell them in high cost market to make more profit. There are four parameter of the strategy through which Samsung can be effective in the field. The cultural parameter helps the company to understand about the culture of the customers and based on which they build their strategies. Administrative strategy helps the company to understand about the rules and regulations of the marketplace and country (Standing, 2011). The geographic location of the customers tells about the requirements and criteria about the products and economic condition of the customers help the company to set the price of the products. References Andreou, C. (2012). SELF-DEFEATING SELF-GOVERNANCE.Philosophical Issues, 22(1), pp.20-34. Ayub, A. and Patel, A. (2011). Saving limbs, saving time, saving moneyThe Ganga Hospital practice.Injury Extra, 42(9), p.143. Borrowing costs. (2009). 1st ed. Kuala Lumpur: Lembaga Piawaian Perakaunan Malaysia. Chiang, C., Goto, T., Chen, C., Hsu, S., AAA, A., AAA, A. and AAA, A. (2011). Efficiency of a Marine Towed Electrical Resistivity Method.Terrestrial, Atmospheric and Oceanic Sciences, 22(4), p.443. Goodman, J. (2014).Reputations in Internet Auctions. 1st ed. HURD, D. (2012). 1989: The Missed Opportunity.JCMS: Journal of Common Market Studies, 50, pp.49-52. Lemmerer, A. and Menrad, K. (2015). Customers use of prices and internal reference prices to evaluate new food products.British Food Journal, 117(4), pp.1411-1424. Lim, T. (2010).Oil and gas in China. 1st ed. Singapore: World Scientific. Mayer, R., Poulikakos, L., Lees, A., Heutschi, K., Kalivoda, M. and Soltic, P. (2012). Reducing the environmental impact of road and rail vehicles.Environmental Impact Assessment Review, 32(1), pp.25-32. Morekar, S. (2011). The ethics of live surgery: an ongoing debate.Indian Journal of Medical Ethics. Sarlak, M. and Hastiani, A. (2011).E-banking and emerging multidisciplinary processes. 1st ed. Hershey, PA: Business Science Reference. Schultz, S. and Cohen, J. (2010).The proxy access debate. 1st ed. [Florham Park, N.J.?]: Financial Executives Research Foundation. Seo, S. (2016). The Influence of Brand Storytelling Types on the Structural Relationships among Brand Consciousness, Brand Identification, Image Elaboration, Brand Image, Attitude Toward Brand.Advertising Research, 108, p.31. Standing, G. (2011). Labour market policies, poverty and insecurity.International Journal of Social Welfare, 20(3), pp.260-269. Tanuku, P. (2009). Social networking policies.Early Years Educator, 11(3), pp.8-8. and Seong-Goo Ji (2014). Job Engagement and Burnout of Salespeople: The Development of the Customers Demands-Resources Model.Journal of Korea Service Management Society, 15(5), pp.81-106.