The farther one moves up the organizational chart, the easier, faster and cheaper the job looks. Comment on the relevance of this statement wr.t. Project Budgeting
Q: Read the situation below and identify if it is: Coordination of effort Common goal or purpose…
A: Organizing is a process of identifying and grouping business activities and combining the financial,…
Q: Define each element of the PESTLE analysis and discuss how a company can use this to analyze its…
A: PESTLE analysis can be referred to as strategic planning tools that are mainly used to identify the…
Q: Roger is telling Mary the first three steps in planning an organization. In the correct order, they…
A: Planning is a managerial function that involves deciding beforehand what is to be done. It is an…
Q: Based on the above scenario, Eugene's job can be considered: low on task significance and high on…
A: low on task significance and high on autonomy The job of Eugene is on the lower side of significance…
Q: Technology is an important part of structure (as in structure and Infrastructure). The Internet…
A: Some ways during which Internet are often wont to achieve competitive priority in cost, speed,…
Q: Can you show me a concept map of financial management?
A: FINANCING: Financing is of the crucial business activities that are responsible for providing…
Q: graduate program has been successful with several of the Associates and Senior Associates who…
A: To accomplish their objectives, businesses and organisations need good management. A company's…
Q: Do you think the behaviour of Rock and Raju is ethical? Why? b. In your opinion, what are the…
A: a. Budgetary slack is the practice by which revenues are underestimated and expenses are…
Q: strategic management.
A: Strategic management entails the continuous preparation, control, review, and evaluation of all…
Q: Please help solve all questions Mega Empire Bhd. is in the inital stages of preparing the annual…
A: To prepare an annual budget, the management of a company has to take various factors under…
Q: Why should the production requirements set forth in the production budget be carefully coordinated…
A: Hello thank you for the question. As per guidelines, we would provide only one answer at a time.…
Q: You are a general director for XYZ private hospital in Amman, and the hospital is not doing well at…
A: [Hi! Thanks for the question. As per our Bartleby guideline, we are supposed to do the first three…
Q: In addition to digitalization and adoption of agile practices, what would you consider as factors…
A: Agile is nothing but the iterative process to the management of projects and the development of the…
Q: One of the with functional structure is the tendency for each department or function to focus…
A: A type of organizational structure under which the business activities are categorized on the basis…
Q: Anyone who can explain the diagram this is in Research and management b. What are the processes…
A: Introduction- Project management is the most common way of driving crafted by a team to accomplish…
Q: Scenario Wanda has never thought of herself as running a business, although it certainly seems to…
A: Internal Environment- elements that presents in company's environment internally or describes the…
Q: Will he be able to motivate him by using the concepts of McClelland’s three needs theory? Explain…
A: McClelland has recognized three fundamental motivating needs which are Need for Power Need for…
Q: Background: Any department manager who has been through a financial belt-tightening exercise has…
A: Education is the most significant part for the growth of a person and for the all round…
Q: What is operations planning and how is it different from scheduling? Why is it important? Identify…
A: An operational plan is an important detailed-oriented plan that defines how a team and department…
Q: PLANNING & ORGANIZING: Walk me through a recent or typical workday and explain how you planned the…
A: Meaning of Planning Planning is determination of the various tasks and actions in advance to…
Q: n general, how could each of the following parameters influence your choice for an organizational…
A: An organization should have a well-defined organizational structure. The structure should allow the…
Q: Faisal is planning a career change and want to deemphasize lengthy unemployment he had in the past…
A: A resume could be a formal document that an employment mortal creates to itemize his or her…
Q: After the analysis of your company Microsoft Corporation , please write the following sections in…
A: An organizational structure defines how activities such as task allocation, supervision and…
Q: Which is considered as the core of planning? a. Organizing b. Decision making c. Staffing d.…
A: Management function determines the overall process of business operations in different areas such as…
Q: create an Operational plan for a wind farm (wind turbines that produce electrcity) Your operational…
A: The concept of harnessing wind energy to generate mechanical power goes back for millennia . As…
Q: future engineering company. Explain or have a short introduction of your chosen firm scope, and…
A: The project manager takes into account the level of authority each manager has while creating the…
Q: Please write your answer in the form of report for these two theoretical questions. Your Report…
A: We can say that where the objective of the balanced scorecard was to create a system, which could…
Q: You are assigned to design the organization structure for a new company. Which of the following…
A: a). Set company objectives, identify and group tasks, determine structure, revise structure if…
Q: Mr. Raheem, the marketing manager of Orphic company prepared a plan showing the expected expenses of…
A: Plan: The plan is an important aspect of managerial function which involves setting targets, framing…
Q: Edwin recently graduated with his honours qualification in Financial Management and wants to open up…
A: In general terms, planning means to decide in advance what is to be done in advance in order to…
Q: CASE STUDY-MANAGEMENT ANALYSIS - DECISION TYPE & PLANNING Times are slow for your company right now…
A: This circumstance is all about the rise in the price of materials & wages. As of this enlarged…
Q: Which step is NOT spelled out in the management process: a) Planning b) Predicting c) Staffing d)…
A: Which step is NOT spelled out in the management process:a) Planningb) Predictingc) Staffingd)…
Q: Should a company structure its departments to match the activities defined by its ABC system?
A: Activity-based costing (ABC) is a way of allocating overhead and indirect costs, such as wages and…
Q: You are assigned to design the organization structure for a new company. Which of the following…
A: In an organization, there are various employees that are working for the achievement of the…
Q: Budgeting
A: Budget is defined as statement for a specific period of time which includes revenues, expenses,…
Q: Discuss the three categories of strategic organizational capabilities. Provide examples to support…
A: The strategic ability of a business refers to the ability to use all the skills, capabilities and…
Q: Describe the type of data and information you would gather to try to justify the cost and time…
A: Management is about organizing people and procedures in a manner that helps the organization achieve…
Q: “Making decisions based on facts and information”. This statement proves that the management is: a.…
A: Management is involved in managing, forecasting, commanding, and coordinating the activities of the…
Q: The planning method is changing and evolving over time, as are all facets of good management. Think…
A: Decentralized organizations delegate decision-making and operational responsibilities to the…
Q: Why Budgeting Kills Your Company? Which is better,the old fashioned way of TOP DOWN budgeting, or…
A: The average billion-dollar corporation spends 25,000 person-days annually putting together its…
Q: At Dr. Kelly's pediatric practice, employees are committed to the work and have specific ideas about…
A: In the case of Dr. Kelly's pediatric practice, the planning cycle would help resolve this difference…
Q: Suggest the type of organisational structure you would use for company A. Motivate your answer.
A: Company A choice these three organizational structures are:- 1. Divisional structure: Organizations…
Q: Controlling occurs when managers determine what tasks are to be done, who is to do them, how the…
A: At its most basic, management is a discipline comprised of five general functions: planning,…
The farther one moves up the organizational chart, the easier, faster and cheaper the job looks. Comment on the relevance of this statement wr.t. Project Budgeting
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
- Give an explanation of how earned value management (EVM) may be used to keep expenses under control and monitor the overall effectiveness of a project, and then hypothesise as to why it is not utilised more often. How can one determine if the data for cost variation, schedule variance, cost performance index, and schedule performance index are healthy or unhealthy? What are some basic rules of thumb?(12) Cost budgeting can be best described by which of the following? A The process of developing the future trends along with the assessment of proba bilities, uncertainties, and inflation that could occur during the project B. The process of assembling and predicting costs of a project over its life cycle C. The process of establishing budgets, standards, and a monitoring system by whi ch the investment cost of the project can be measured and managed D. The process of gathering, accumulating, analyzing, reporting, and managing the costs on an on-going basis (13) The process of monitoring the status of the project to update the project costs and managing changes to the cost baseline is called A Determine Budget B. Control Costs C. Estimate Costs D. Plan Cost Manag ement (14) Cost Variance (CV) is which of the following equations? A CV = EV - PV B. CV = EV - AC C. CV = EV / AC D. A and c (15) To assist in budget control, it is suggested that an estimate be created at the level of the…1. The key to effective cost control is to analyse cost performance on a regular and timely basis.In light of the statement above, discuss the involvement of cost control in managing a budget in a project.
- You are assigned your first project and if things go well you should get promoted. The CEO is aware of this project, so you have a chance for high visibility. You want to do a good job! Your first task is to define the work break down structure by interviewing project activity managers and the firm's friendly, yet boring, accountants to get "good estimates" of project activity times and costs. For one of the activities, the normal time is six weeks, the crash time is four weeks, the normal cost is $7,080, and the crash cost is $16,330. What is the crash cost per week? Round your answer to the nearest dollar. $ per weekMaintaining company profit in the long run is a tough responsible for a project manager. Without a good experience and skills, it will lead to declining in company’s profit. Discuss how the good project manager can control and monitor the company’s resources. You may discuss in term of these resources: a) Physical resources Raw material, buildings, vehicles, transportation, storage facility, machines and factory. b) Human resources Engineer or specialist and technician. You need to discuss this point at least by 200 words. Give appropriate reference and citation for your answer.You have been hired by a contractor, who wants you to manage a constructionproject for one of their clients. The project team has been working for twomonths, and is 35% done with the job. Two of your team members come toyou with a conflict about how to handle the ongoing maintenance for a pieceof equipment. You know that they can safely ignore the problem for a while,and you’re concerned that if your project falls behind schedule before nextweek’s stakeholder meeting, it will cause problems in the future. You tell thetwo team members that the problem really isn’t as bad as they think it is, andif they take a few days to cool off about it you’ll help them with a solution.This approach to conflict resolution is known as ______.A. WithdrawalB. CompromiseC. SmoothingD. Forcing You are a project manager for a software project. As you are defining thescope of the work you need to do, you sit down with all of the project’sstakeholders and record all of the requirements you can get from…
- You’re managing a project with a schedule performance index (SPI) of 1.07and a cost performance index (CPI) of 0.94. How would you BEST describethis project?A. The project is ahead of schedule and within its budgetB. The project is behind schedule and within its budgetC. The project is ahead of its schedule and over its budgetD. The project is behind schedule and over its budget Which of the following is the BEST example of a reward system?A. Everyone will get a bonus of $500 if the project meets its quality goals, $500 if itmeets its budget goals, and $600 if it comes in on time.B. The team member who works the hardest will receive $1000C. The five team members who put in the most hours will get a trip to DisneylandD. The team will only get a bonus if the project comes in 50% under budget, scheduleand quality metric goals. Even though the team leads know this goal is unrealistic,they agree that it will motivate the team to work harder”You are hosting an important event on campus, the RSVP’s are in and there will be 100 guests (not fellow students) attending. You forgot to ask for help and the event is only 4 days away; it is now up to your group members to make this a successful event. Over the next week your group needs to identify tasks, set priorities and come up with a plan to make this happen. You cannot ask any other people to help You have a budget of $20,000.00 YOU MUST CREATE AN INITIAL BUDGET SPREADSHEET SHOWING A BUDGET GREATER THAN $20,000. SET YOUR CONSTRAINTS, DECIDE WHICH TASKS BUDGET TO BE ADJUSTED AND USE EXCEL SOLVER TO CREATE YOUR FINAL BUDGET. Submit your plan and your reasoning behind the decisions and why your plan will make the event a success. Also submit the excel spreadsheet showing your initial budget and your final budget with the constraints.Develop three (3) program proposals that you think can help in improving the Job Satisfaction of employees in your company. (You may develop a new company or use an existing one) Provide the following details: COMPANY NAME: INDUSTRY: NUMBER OF EMPLOYEES: PROJECT NAME: HRM FUNCTION INVOLVED: OBJECTIVES: (at least three) HORT DESCRIPTION/ ILLUSTRATION OF PROJECT: DEPARTMENTS INVOLVED: PROPOSED BUDGET ALLOCATION: PROPOSED BUDGET SOURCING:
- “With everyone in IT working on too many projects concurrently, project completion and productivityare slow.” Briefly explain how Coady might use Human Resource planning to manage projectresourcesOn successful completion of this assignment, you will be able to: Identify and critically analyse principles and trends in performance measurement and control. Determine the different budgeting techniques and critically evaluate their use in short term decision making. Analyse the current approach to performance measurement and control in a selected global organisation and critically appraise suggestions for improvement of current practices. Critically appraise the application of performance criteria in not or profit and public sector organisations. Your Task Cat's Habitat is a cat rehoming shelter where stray cats can find new homes. This organization is a non-profit that has been in operation for five years. Cat's Habitat has seen an increase in the cost of food, toys, and other operating expenses over the last three years. As a result, the shelter has had to try to reduce the costs associated with its operations, which it has done by reducing the number of paid employees who work…On successful completion of this assignment, you will be able to: Identify and critically analyse principles and trends in performance measurement and control. Determine the different budgeting techniques and critically evaluate their use in short term decision making. Analyse the current approach to performance measurement and control in a selected global organisation and critically appraise suggestions for improvement of current practices. Critically appraise the application of performance criteria in not or profit and public sector organisations. Your Task Cat's Habitat is a cat rehoming shelter where stray cats can find new homes. This organization is a non-profit that has been in operation for five years. Cat's Habitat has seen an increase in the cost of food, toys, and other operating expenses over the last three years. As a result, the shelter has had to try to reduce the costs associated with its operations, which it has done by reducing the number of paid employees who work…