Mini-Project (Second) Essay Example | Topics and Well Written Essays - 1000 words

Mini-Project (Second) - Essay Example All management projects contain risks of one sort or another. These arise from interactions between the project objectives and uncertainty. A risk is â€Å"an uncertain event which, should it occur, would have an effect on achieving the objectives†. (APM PRAM Guide, 1997) The business, technical and project risks are listed below. The impact level of each risk is stated in the table, and these are given ratings and assigned priorities. Important recommendations are given on how the risks should have been managed. 6. Change in production train specification made it necessary to add another five feet to the length of the new building (only discovered when holding down bolts for the new train were laid out on site). Similarly for catalogue descriptions and specifications for other equipment 6. Manufacturing drawings for the critical long-lead equipment sat in a junior clerk’s in-tray awaiting approval and caused a two week delay and contributing to a later construction schedule conflict in tying-in the new services Uncertainty (or probability of occurrence) is classified as either very low (1), low (2), medium (3), high (4) or very high (5). The impact level is graded and scored the same. The two figures are multiplied to give the priority rating. The fact that not all stakeholders’ roles were clearly defined and especially that the project managers were not even aware of the importance of some stakeholders until much later was a great risk. For instance, â€Å"The VP Production and VP Sales and Estimating were important stakeholders who got involved in the project much later than they should have been.† (Group 1) And, the local inspection authority’s latest safety standards were not taken into account for the paint disposal arrangements. This was a potential environmental risk. The inadequate pre-planning was another great risk and an important part of this was project design, budgeting and scheduling.

Emerging Technologies in Accounting Essay Example | Topics and Well Written Essays - 2000 words

Emerging Technologies in Accounting - Essay Example For the order to be recorded for the delivery date requested, the valid product ids and quantities will need to be entered after the event. If the delivery date requested also needs to be checked for feasibility, the database must have information on the 1) Stocks available for the products ordered; 2) List of all orders scheduled between now and the requested date for the products; 3) Balance capacity available for fulfilling this order. No obligations would be recorded in the Accounting books at this stage. However, the Company accepts the obligation to supply the products by the delivery date; and the customer accepts the obligation to receive and pay for the goods as per the order’s terms. Event b: When the system schedules the production of goods the information needed from the database are 1) Free stocks available for each product ordered; 2) Bill of materials required for the products ordered; 3) Stocks of raw materials available; 4) Production operations to be performed and the time required for each operation; 5) Machinery, Equipment, and Labor required for the operations and their availability Event c: For the system to schedule raw material orders from the vendors, the information needed in the database are 1) Raw material requirements for the goods, based on Bill of Materials; 2) Preferred vendors for the raw materials; 3) Vendor rates; 4) Lead time for supply of the raw materials. Event d: For the raw materials to be received and stored, the database should have information relating to 1) The order placed with the vendors, i.e., Vendor Id, Order No, Order date, Desires Delivery date, Raw material id, quantity, price, Delivery terms, and Payment terms; 2) Goods acceptance details based on inspection of the raw materials supplied.