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Question 3 (20 marks) Differentiate FIVE (5) characteristics between the Traditional Approach and Approach to Project Management. Your answer can be in a table format.
Answers
The traditional approach to project management is characterized by a focus on stability, a hierarchical structure, detailed upfront planning, formal communication, and risk avoidance. On the other hand, the modern approach emphasizes flexibility, collaboration, adaptive planning, open communication, and proactive risk management.
Differentiating characteristics between the Traditional Approach and the Approach to Project Management can be summarized as follows:
1. Focus:
- Traditional Approach: The traditional approach to project management tends to focus on processes, procedures, and rigid hierarchies. It emphasizes adhering to a predetermined plan and maintaining stability throughout the project.
- Approach to Project Management: The modern approach to project management focuses on flexibility, adaptability, and collaboration. It acknowledges the dynamic nature of projects and encourages iterative planning and continuous improvement.
2. Structure:
- Traditional Approach: In the traditional approach, project management follows a hierarchical structure with a clear chain of command. Decision-making authority is centralized, and tasks are divided among specialized individuals or departments.
- Approach to Project Management: The modern approach promotes a flatter organizational structure with decentralized decision-making. It emphasizes cross-functional teams that work collaboratively, enabling faster communication and decision-making.
3. Planning:
- Traditional Approach: Traditional project management emphasizes detailed upfront planning, where all requirements and tasks are defined at the beginning of the project. Changes to the plan are typically discouraged or treated as exceptions.
- Approach to Project Management: The modern approach recognizes the uncertainty and complexity of projects. It advocates for adaptive planning, where requirements and tasks are continuously refined and adjusted throughout the project based on feedback and new information.
4. Communication:
- Traditional Approach: Communication in the traditional approach is often formal and follows a top-down approach. Information flows through predetermined channels, such as reports and meetings, with limited opportunities for open dialogue.
- Approach to Project Management: The modern approach encourages open and transparent communication. It promotes regular interactions among team members, stakeholders, and customers, utilizing various communication channels, such as face-to-face meetings, virtual collaboration tools, and instant messaging.
5. Risk Management:
- Traditional Approach: Traditional project management tends to view risks as negative events to be avoided or minimized. Risk management is often focused on identifying and mitigating risks before they occur.
- Approach to Project Management: The modern approach recognizes that risks are an inherent part of projects and can be managed proactively. It promotes a comprehensive risk management process that includes risk identification, assessment, response planning, and monitoring throughout the project lifecycle.
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Related Questions
You are analyzing a project and have developed the following estimates. the depreciation is $9,500 a year and the tax rate is 34 percent. what is the net cash flow?
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The operating cash flow is (D) $10,952.
What is Operating cash flow?The difference between cash inflows and cash outflows from the company's business operations is referred to as operating cash flow. Operating cash flow excludes noncash expenses such as depreciation and can be positive or negative depending on the circumstances. It is calculated by adding net income and depreciation.To find the operating cash flow:
Net operating income: Given (Refer to the chart given below)Formula:
Operating cash flow = Net income + Depreciation expenseOperating cash flow = $1,452 + $9,500Operating cash flow = $10,952Therefore, the operating cash flow is (D) $10,952.
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The correct question is given below:
You are analyzing a project and have developed the following estimates. The depreciation is $9,500 a year, and the tax rate is 34%. What is the operating cash flow? Show work and explain.
Unit Sales $1,800
Price per unit $31
Variable cost per unit $22
Fixed Cost $4,500
A. 5,408
B. 7,952
C. 8,407
D. 10,952
E. 12,408
What is suggestive selling? Have you experienced an example of this? If so, describe the experience. Why do restaurants use suggestive selling?
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Answer:
Explanation:
Suggestive selling is when someone recommends a better version of the product which you are purchasing or even recommends another totally different product that may suit your individual needs better. Almost everyone has experienced this in some capacity before. For example, any time you go to a fast-food chain they always ask if you would like to increase the size of your order (super-size) for a small additional fee. This is suggestive up-selling, and companies do this because they make additional profit from these items that they are suggesting.
Which is better 21 jump street or 22 jump street?
Answers
Answer:
according to my calculation its 21.
Explanation:
Given the following cash flows (-300,120,110,100,90,80), if the normal and discounted payback period is 3 years, should the project be accepted if the opportunity rate is 6%? Justify your decision.
Answers
The project should be accepted if the opportunity rate is 6% because both the normal and discounted payback periods are less than the project's duration the project should be accepted.
The normal payback period calculates the time required for the project to recoup its initial investment without considering the time value of money. In this case, the normal payback period is 3 years, which means the project is expected to recover its initial investment within that timeframe.
The discounted payback period takes into account the time value of money by discounting the cash flows. If the discounted payback period is less than the project's duration, it indicates that the project's cash flows, when discounted at the opportunity rate of 6%, are recovered within a shorter timeframe.
Since both the normal and discounted payback periods are 3 years, which is less than the project's duration, it suggests that the project is capable of generating positive cash flows and recovering its initial investment within a reasonable timeframe. Therefore, the project should be accepted if the opportunity rate is 6%.
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If you are buying bulk products in a health food store, you can expect to pay based on
A. the package that it comes in.
B. the size of the scoop or ladle in the bin.
C. the weight of the amount that you select.
D. the comparable cost at a neighborhood grocery store.
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hope it helps
What's a curling iron?
Answers
Answer:
A curling iron is a tool that is used on hair to create a tight or loose curl.
Estelle is a recent accounting graduate, and while she likes the idea raised by her fellow graduate Fernando to set up business in a partnership together, she has always wanted to go into business for herself. Before Estelle makes a decision, her instructor tells her it would be a good idea to consider the effect of different tax structures on each type of business, just in case she favors one situation more than the other. Compare and contrast how partnerships and sole proprietorships differ in terms of their tax requirements.
Sanjay was recently alerted to the fact that his business will be audited by the IRS. What are some possible causes for Sanjay’s business being selected for audit? What will this audit likely entail? How can Sanjay prepare?
After getting his first paycheck, Marlon is incredulous at the amount of money that goes to FICA. “Who in the world is FICA?” he asks his mother. How does she reply?
Eloise has exactly $300 to spend on an airline ticket. Assuming that she will need to pay the passenger ticket tax, the passenger facility charge, and the Sept. 11th fee, what is the maximum base ticket price Eloise can still afford to pay, knowing that she has all these additional fees and taxes to pay? Explain.
Sloan has always been pretty lax about preparing her taxes, and she doesn't pay too much attention to the rules. However, after taking a class on tax fraud, she is a bit concerned that some of the information in her past tax returns may be questionable. Sloan should only be worried about tax fraud if she’s made certain mistakes in the past. What kind of mistakes should Sloan be concerned about? Explain.
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which budgeting approach requires justification for all expenditures
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Answer:
i would love to help you but i dont know the answer
belief in a group's cause is an example of which type of incentive?
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Belief in a group's cause is an example of an intrinsic incentive. Intrinsic incentives are those that come from within a person, such as personal values and beliefs, and are not necessarily tied to external rewards or punishments.
In the case of belief in a group's cause, individuals may be motivated to work towards the group's goals because they are personally invested in the cause and want to make a difference. This type of incentive can be very powerful, as it taps into a person's sense of purpose and meaning. It can also lead to increased levels of engagement and commitment, as individuals are more likely to put in extra effort when they believe in what they are working towards.
Overall, belief in a group's cause can be a very effective incentive for motivating individuals to work towards shared goals and objectives. It is important for groups to foster a sense of shared purpose and values, as this can help to align individual motivations and increase overall effectiveness.
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explain the process that economists use to conduct a Cost-Benefit Analysis (CBA) for a high-speed rail
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Answer:
A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action. Some consultants or analysts also build models to assign a dollar value on intangible items, such as the benefits and costs associated with living in a certain town.
KEY TAKEAWAYS
A cost-benefit analysis (CBA) is the process used to measure the benefits of a decision or taking action minus the costs associated with taking that action.
A CBA involves measurable financial metrics such as revenue earned or costs saved as a result of the decision to pursue a project.
A CBA can also include intangible benefits and costs or effects from a decision such as employees morale and customer satisfaction.
Cost-Benefit Analysis (CBA)
Understanding Cost-Benefit Analysis (CBA)
Before building a new plant or taking on a new project, prudent managers conduct a cost-benefit analysis to evaluate all the potential costs and revenues that a company might generate from the project. The outcome of the analysis will determine whether the project is financially feasible or if the company should pursue another project.
In many models, a cost-benefit analysis will also factor the opportunity cost into the decision-making process. Opportunity costs are alternative benefits that could have been realized when choosing one alternative over another. In other words, the opportunity cost is the forgone or missed opportunity as a result of a choice or decision. Factoring in opportunity costs allows project managers to weigh the benefits from alternative courses of action and not merely the current path or choice being considered in the cost-benefit analysis.
By considering all options and the potential missed opportunities, the cost-benefit analysis is more thorough and allows for better decision-making.
The Cost-Benefit Analysis Process
A cost-benefit analysis should begin with compiling a comprehensive list of all the costs and benefits associated with the project or decision.
The costs involved in a CBA might include the following:
Direct costs would be direct labor involved in manufacturing, inventory, raw materials, manufacturing expenses.
Indirect costs might include electricity, overhead costs from management, rent, utilities.
Intangible costs of a decision, such as the impact on customers, employees, or delivery times.
Opportunity costs such as alternative investments, or buying a plant versus building one.
Cost of potential risks such as regulatory risks, competition, and environmental impacts.
Benefits might include the following:
Higher revenue and sales from increased production or new product.
Intangible benefits, such as improved employee safety and morale, as well as customer satisfaction due to enhanced product offerings or faster delivery.
Competitive advantage or market share gained as a result of the decision.
An analyst or project manager should apply a monetary measurement to all of the items on the cost-benefit list, taking special care not to underestimate costs or overestimate benefits. A conservative approach with a conscious effort to avoid any subjective tendencies when calculating estimates is best suited when assigning a value to both costs and benefits for a cost-benefit analysis.
Finally, the results of the aggregate costs and benefits should be compared quantitatively to determine if the benefits outweigh the costs. If so, then the rational decision is to go forward with the project. If not, the business should review the project to see if it can make adjustments to either increase benefits or decrease costs to make the project viable. Otherwise, the company should likely avoid the project.
With cost-benefit analysis, there are a number of forecasts built into the process, and if any of the forecasts are inaccurate, the results may be called into question.
Limitations of the Cost-Benefit Analysis
For projects that involve small- to mid-level capital expenditures and are short to intermediate in terms of time to completion, an in-depth cost-benefit analysis may be sufficient enough to make a well-informed, rational decision. For very large projects with a long-term time horizon, a cost-benefit analysis might fail to account for important financial concerns such as inflation, interest rates, varying cash flows, and the present value of money.
Explain to the management of SSSMM the impact of the following socio-
economic issues on their business.
a.Inflation
b.Dumping
Answers
Answer:
inflation
Explanation:
this a process by which prices of a particular goods are high
Type the correct answer in the box. Spell all words correctly.
Which quality helps a leader cooperate with team members?
_____ is a quality that helps a leader cooperate with the team on important matters to achieve company goals.
Answers
Answer:
agreeableness
Explanation:
I got the right answer on edmentum
(If you can answer this question, please answer it. No one's been answering my questions ): )
Think about price, place, promotion, and product.
Do you see any limitations to using these methods to create a marketing plan? If so what limitations do you foresee?
Answers
Hope this helps :)
The value of any asset is the present value of the cash flows the asset is expected to provide. The cash flows a business is able to provide to its investors is its free cash flow. This is the reason that fcf is so important in finance. True or false?.
Answers
This is true that The value of any asset is the present value of the cash flows the asset is expected to provide. The cash flows a business is able to provide to its investors is its free cash flow. This is the reason that FCF is so important in finance.
The phrase "cash flow" is typically used to represent payments that are projected to happen in the future, are thus unknown, and so need to be forecast using cash flows; a cash flow in its restricted sense is a payment (in a currency), especially from one central bank account to another; Operating activities, investment activities, and financing activities make up the three categories of cash flows. Cash-related net income activities are included in operating activities.
The quantity of money coming into and going out of your business over a specific time period is known as cash flow. Because it allows you to both satisfy your current financial responsibilities and make plans for the future, cash flow is crucial.
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any five differences between partnership
and Joint Stock company
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here's your answer..
How can the business cycle affect your income?
I
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I know these are multiple questions, but the actual question is fit into one big question. VERY MUCH APPRECIATED!
Planning and Conducting:
What are some possible ways to track down your energy usage? Is it more appropriate, in your opinion, to investigate energy usage per day, per week, or per month? • How would you estimate energy usage for devices which you are not the sole user of? • What are some appropriate ways to organize your data? • Suggestion: Pick at least 10 items that are commonly used every day. Record the power rating (in Watts or in some cases given as output: ____V / ____ A) and/or energy rating (in kWh). Track down the amount of time that the device runs in a period of your choice. (8 hours / 24 hours / 3 days / 1 week; do not go beyond one week.)
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Possible ways to track down your energy usage are: Some possible ways to track down your energy usage are through the use of power strips, smart plugs, energy monitoring devices, and utility bills. These methods enable you to measure your electricity consumption so you can reduce it effectively.
In my opinion, it is more appropriate to investigate energy usage per month because it can give you a better perspective on how much energy you consume. You'll have a more detailed overview of your energy usage if you track it over a longer period.
Estimate energy usage for devices that you are not the sole user of by averaging the time that different people use them and multiplying that by the energy consumption of the device. If the device is on all the time, you may need to estimate based on the average number of hours per day that the device is turned on.
Appropriate ways to organize your data include sorting your data by device, usage frequency, energy usage, and time spent using each device. You may want to create a spreadsheet to keep track of your energy usage data for each device, so you can quickly and easily compare the energy usage of different devices.
If you prefer, you can also use an energy monitoring app or device to track your energy usage for each device.
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Which personality type might be compatible with a career as an engineer?
A Artistic
B. Protector
C. Idealist
D. Rational
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Answer:
D. Rational
Explanation:
That's The Answer❣️
Are items of lower quality sold on BLACK FRIDAY? Give an example.
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Answer:
Items of Low price can't be sold on BLACK FRIDAY because black friday means that the price are brought down to a low price which mean items of low price can't be sold on BLACK FRIDAY
Ell us about a time when your attention to detail was critical in preventing a major issue/error
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Tell us about an error instance when your focus on detail was essential in avoiding a significant way is troubleshooting error.
The capacity to concentrate on a particular job while carefully considering and attending to all of its important features might be characterized as attention to detail. An illustration of paying attention to detail is finding and fixing any typos or grammatical problems in an email before sending it.
When describing anything that is more substantial, serious, or crucial than other elements within a group or circumstance, you use the word major. If the situation is casual, use the word "issue." You may use the word "issue" while discussing a political matter or a topic for a discussion. if the circumstance is official.
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Correct Question:
Tell us about a time when your attention to detail was critical in preventing a major issue/error.
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
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Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
which of the following is the monthly payment on an 8%, 36-month, add-on loan of $10,000? (round the answer to the nearest dollar.) group of answer choices a. $300 b. $314 c. $380
d. $344 e. $278
Answers
The monthly payment on an 8%, 36-month, add-on loan of $10,000 is $344 (rounded to the nearest dollar).
To calculate the monthly payment for an add-on loan, we first need to find the total interest. The total interest is calculated by multiplying the loan amount ($10,000) by the interest rate (8%) and the loan term (36 months). After finding the total interest, add it to the original loan amount to find the total amount to be repaid. Finally, divide the total amount by the number of months in the loan term to determine the monthly payment. Here's the step-by-step calculation:
1. Total interest = Loan amount x Interest rate x Loan term = $10,000 x 0.08 x 3 = $2,400
2. Total amount to be repaid = Loan amount + Total interest = $10,000 + $2,400 = $12,400
3. Monthly payment = Total amount to be repaid ÷ Number of months = $12,400 ÷ 36 ≈ $344
Thus, the loan is $344 (rounded to the nearest dollar).
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the environmental protection agency (epa) is in the process of investigating a possible water contamination issue at the manufacturing facility of northwest forest products. the epa has not yet proposed a penalty assessment. management feels an assessment is reasonably possible, and if an assessment is made, an unfavorable settlement is estimated to be $25 million. determine how the estimated cost of the settlement will affect the current financial statements.
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Then it will come under contingent Liabilities. A responsibility or possible loss that could materialise in the future based on how a particular occurrence plays out is known as a contingent liability.
Contingent liability can take the form of pending investigations, product warranties, and potential lawsuits. Assets that could exist but whose value depends on the presence or absence of unpredictable future events outside the entity's loss complete control are known as contingent assets. When an inflow of benefits is more probable than not to materialise, contingent assets are revealed rather than recognised. A present liability is an amount you already owe.
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DONT mess with my stuff
Answers
Answer:
yeah i wont lol
Select the correct answer.
Which of these is an informal group?
A. command group
B. self-managed work group
C. task group
D. virtual group
E. interest group
Answers
Answer:
B
Explanation:
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Which best describes a mixture?
ООО
It has a single composition, and it has a set of characteristics that does not change.
It can have different compositions, but it has a set of characteristics that does not change.
It has a single composition, but it has a set of characteristics that does change.
It can have different compositions, and it has a set of characteristics that does change.
Answers
Answer: it can have different compositions, and it has a set of characteristics that does change.
Explanation:
A mixture is form when other substances are being mixed together. In such scenario, it has different composition and it characteristics are been altered.
Therefore, the option that best describes a mixture is option D "It can have different compositions, and it has a set of characteristics that does change"
Answer:
D.
Explanation:
Which of the following sequences states the order in which accounts are listed on a trial balance?
A. Liabilities, Assets, Equity
B. Equity, Assets, Liabilities
C. Assets, Equity, Liabilities
D. Assets, Liabilities, Equity
Answers
The accompanying groupings express the request in records are recorded on a trial balance of Assets, Liabilities, and Equity.
The option (D) is correct.
A trial balance is a financial statement that rundowns the equilibriums of all records in the overall record. It is ready to guarantee that charges and attributes are in balance and to work with the arrangement of fiscal reports. In a preliminary equilibrium, accounts are normally recorded in a particular request.
The order in which accounts are listed on a trial balance follows the accounting equation: Assets = Liabilities + Equity. Consequently, resources are recorded first, trailed by liabilities, and afterward value. This request mirrors the crucial design of a monetary record, which orders accounts into these three fundamental segments.
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I WILL GIVE BRAINLIEST
This part of the business cycle is when companies have hired as many employees needed to supply enough goods demanded by consumers to optimize profit.
A. Trough
B. Growth
C. Recession
D. Peak
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Explain the criticisms of labor unions today. 25 POINTSS
Answers
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
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Is a general decline in prices throughout an economy