Time Management Essay - 731 Words

Time Management Time management is a term that is used to describe ones use of productive time. Time management is all relative to the perception of the task needing to be accomplished. Is the project long or short term? Is this something that needs to be done in a timeframe? Is this a personal goal or is it a demand of a superior? Defining time management and applying it to my life has created some questions of how well I succeed as an employee, student, mother and wife while creating a balance between obligation and time. My goals are to be the best person I can be for my family and myself. I try to create family values by bringing the family together in many ways. Some of the ideas I have to encourage daily are creating meals†¦show more content†¦It appears to be a non-constructive time. I had never thought about setting that time aside to ask myself, â€Å"what could I do with that part of my day to be more efficient?† After consideration, I realized the time I am watching the ne ws, I genuinely was planning my day and creating a detailed map for each portion of the day. My job is divided into a split shift. The afternoons are spent at work and not with my family doing homework, bath time and the necessary preparations for the next day. I feel disconnected from that part of my family’s day. If I could work less or restructure the end of my day, then that would create a connection and fulfill my family’s needs. When I complete my academic/professional goals and receive my college diploma then the adjustment in my profession will evolve naturally. To execute my plan efficiently and to become more accountable, keeping a time log journal and taking personal time to write down my daily map instead of just reviewing it mentally. A visualization of the plan will help in its execution. Reading the daily map aloud is another way I lock information into my memory. I would like to monitor my success and remain on task by using a timer while keeping me awa re of the time used, creating a short term goal. The timer also will create a sense of urgency to get things accomplished without losing focus. Last, the development of a support system would encourage me to be successful. My support system will consist of my familyShow MoreRelatedTime Management And Its Impact On Students862 Words   |  4 PagesMany students find it hard to manage their time well; whether they are trying to juggle academic responsibilities such as just getting to classes, trying to keep up with the continuous demands of each class like studying, or with trying to complete multiple assignments that have to be completed before the deadline. It can be onerous. Especially, in college, there are so many distractions: different clubs, sports, and other campus activities that you can participate in such LEAD helping the communityRead MoreTime Management1233 Words   |  5 PagesTime Management By: Time management is often thought of when describing task related to business management or executive positions; those who have meetings and appointments related to business deals as well as meeting deadlines and time lines. However, time management is something everyone will have to deal with no matter the task or job. The following essay will describe time management and its importance in the work place as well as its importance for those who use it on a more personalRead MoreTime Management1058 Words   |  5 PagesTime Management is the control and focus of a person’s actions for the purpose of improving efficiency. Time management techniques typically involve setting goals, establishing priorities, budgeting the amount of time allotted to a given activity, and planning and scheduling the steps needed to achieve goals. Generally, time management refers to the development of processes and tools that increase efficiency and productivity. When we think of time management, we tend to think of personalRead MoreTime Management1849 Words   |  8 PagesIntroduction It is rightly said Time and Tide wait for none. An individual should understand the value of time for him to succeed in all aspects of life. People who waste time are the ones who fail to create an identity of their own. My Rational on my first action plan was: I have poor attitudes towards managing time, such as managing time to study. Developing effective study habits is important as they will help me to use my study time more productively and will also help to handle stressRead MoreTime Management At The Same Time701 Words   |  3 PagesTime Management I can hear some moms already groaning. Time is a scarce resource for many moms. In the course of any given day, I keep wishing for more hours. However, every one of us has been given the same number of hours. It’s up to you to organize and prioritize your activities for maximum success. If you don’t know how to multi-task, I suggest you learn how to do it. The ability to multi-task will serve you well. I completed a few online tests while breastfeeding at the same time. The key wasRead MoreTime Management1901 Words   |  8 PagesTime management in the business world – research paper outline Kaynnera T. Capers Organizational Management Time Management in the Business World It is true that the majority of the time, people learn to manage their time the proverbial hard way (i.e. working late at night, trial and error, barely meeting deadlines, etc.). The definition of time management can be stated to be the process of both controlling and understanding the time spent on a variety of activities. Time management is by andRead MoreTime Management And School / Life Balance1156 Words   |  5 PagesCompleted Training: Time Management and School/Life Balance Based upon Ms. Mendia’s recommendation, I enrolled in and successfully completed the course: Work Smarter, Not Harder: Time Management for Personal Professional Productivity under Coursera a UC Irvine Extension that was offered online (enclosed number 5 please find a certificate of course completion). I have learned to make a schedule of tasks, to prioritize my tasks and goals by categorizing them under personal and professional, groupRead MoreThe Importance of Time Management1424 Words   |  6 PagesSPC Becky Geiger 5 April 2013 Corrective Training The importance of time management. Steps to take to avoid or prevent tardiness. There are many reasons that time management is important. For example, if your unit was getting ready for deployment, you would need to be at the right place at the right the time, to receive any information you or your fellow soldiers may need to know before you leave. If you weren’t there when you were told to be then you would fall court martial under articleRead MoreTime Management At The Workplace1675 Words   |  7 PagesTime Management at the Workplace and The Importance of Being on Time Hunter J. Bullock 4th Ranger Training Battalion Time Management at the Workplace and The Importance of Being on Time â€Å"The average person uses 13 different methods to control and manage their time.† Wetmore, D. E. (1999, August 23). Time Management Facts and Figures. Retrieved from http://www.balancetime.com/articles/tm_facts_and_figures.htm It is imperative to arrive on time to anything and everything that has been pre-plannedRead MoreReflection On Time Management1081 Words   |  5 PagesTime management seems to be an issue that many people struggle with. It is important to learn to balance work, school, and familial responsibilities. I plan to utilize any free time to work on school work, implementing Pareto’s Law, and looking at the big picture. Recently, a friend and I were planning our annual summer trip, which is the only time we see each other each year. I told her that there is only one weekend in which I will not be in the middle of school. She responded by saying, â€Å"That’s

How Do We Protect Ourselves From Them - 1138 Words

Imagine a world with full of Artificial Intelligence, in a form of a robot. It is a thought that most people can dream of. Eventually it won t be an imagination anymore but a goal that most people will try to accomplish. As years progress in life, our technology gets better and better. We play as â€Å"god† as we experiment with the theories of AI’s. Having an AI in our world can have its disadvantage. For example, an AI can feel and think like a human on its own. By this, I mean that an AI can have real emotions and can be able manipulate them. It can also make good and bad decision. Not only is that a concern for everyone, but they can actually look like use and be mistaken for a real human. Another concern is that they might overpopulate†¦show more content†¦2) AI will have certain restrictions. A coding that will prevent them from disobeying their original coding. 3) AI should only help and guide those who need help and will be marked as a robot. 4) Any industry making an AI must be approved in a legal procedure and numbered of test they must go through. 5) Every AI will shut down immediately if it manipulates 100% of human behavior, emotions or consciousness. Each of this law will maintain an order on society where there would not be any problems with AI and humans. We will be in control of the robots. The laws will be set in order to keep AI from reaching its full potential. Rule number 1,3,4 and 5 is mentioned because it relates to the movie Ex-Machina. In the film, Ex-Machina, Caleb is chosen to evaluate Ava through a Turing test. According to Caleb: â€Å"A Turing test is when a human interacts with a computer and if the human doesn t know they re interacting with a computer, the test is passed. And what does a pass tell us? That the computer has artificial intelligence.† This movie breaks few of the laws that I mentioned because there is no boundary or limitation. Anything could happen during the evaluation of the test because there are no certain rules whether if it is too much of a human and there is only one test they have to pass. Ava will be in control of the test and have the better outcome of what will happen next (rul e number 3 and 4). Another example is when Ava (AI) warns

The World Of Architecture And Design - 1523 Words

Meaningful space, what is its relevance in the world of architecture and design? A meaningful space originates from the hierarchy of form rather than aesthetic emotion. Materials we use now are for strength not for meaningful form, spaces haven’t found position of order, integration is a way of nature and adjoining servant spaces identifies the essence of space. (A selection of Architectural Manifestos, n.d) Le Corbusier believed architecture, sculpture and painting are dependent on space, as he discussed in his manifesto ‘Ineffable Space’ in 1948. (Gargiani Roberto, Rosellini Anna 2011) Louis Kahn, on the other hand, had a different view. In 1965-69 in his writing of ‘Architecture is the thoughtful making of spaces’ Kahn suggests that meaningful form characterises space. (A selection of Architectural Manifestos n.d) Le Corbusier, one of the pioneers for modern architecture and Kahn, one of the most influential architects from the 20th Century, had two very differing interpretations of what creates a significant space. Both Archit ects had great influence on the world of architecture and design, and still their concepts are being discussed and stimulate design today. (Oxford University Press n.d) Kahn states that the materials we now use in architecture are known for their strength, not their meaningful use of form. The use of steel and concrete confront us; their characteristics must be in harmony with the spaces that want to be and evoke what spaces can be. A space inShow MoreRelatedDesigning A New Urban Life Is Influential And Effects On The Society Of The Future1134 Words   |  5 Pagesthemes (E. D., 2015, February 8). Highly creative architecture is the result of its response to science fiction films that are derived from real life, tangible objects. Architecture will always be influenced by Science Fiction, because Architects are always looking for unique ways of designing abstract things that will show their style and uniqueness in design. By doing so, they gain popularity as space age architecture, and modern architecture has been a popular concept throughout the years. ArchitectsRead MoreArchitecture And Architecture : Architect Frank Gehry1706 Words   |  7 Pagesin terms of architecture. Usually, when the term architecture is brought up, those of us who are non-architects tend to close mindedly think only about buildings. This apparent disconnect between what is conceived as architecture and what is conceived as art has long plagued the architects of this world. It is almost as if there is an accepted notion that architects can be artists, but artists simply cannot be architects which decidedly makes architecture first and foremost architecture, not art. ArchitectRead MoreLe Corbusier s View Of Architecture Or Revolution ?1572 Words   |  7 Pagesâ€Å"Architecture or Revolution?† in Le Corbusier’s belief was the only way to avoid class-based revolution in industrialized architecture (Quirk, 2012). Le Corbusier, born Charles Édouard Jeanneret, was born into an artistic family in 1877 in a small village in Switzerland. His mother was a pianist and his father was a designer of watch dials. Even though he learned piano and father’s trade he got interested in the architecture when he was 13 years old. He learned from L’Eplatenier, a teacher in LaRead MoreFrank Lloyd Wright s Life, Career, Influences And Impact On The Way We See American Architecture1500 Words   |  6 Pages20th century from anywhere in the world. Wright is known and respected throughout the world for his innovative and modern designs. As an architect Wright developed an organic and what became known as a distinctively American style throughout his work. Many believe that Frank Lloyd Wright changed the way we build and and live in the modern world. This essay will examine and evaluate Wrights life, career, influences and impact on the way we see American architecture.   Wright was born on the 8th ofRead MoreLe Corbusier s Influence On The Modern Era789 Words   |  4 Pagesâ€Å"Architecture or Revolution,† in Le Corbusier belief the only way to avoid class-based revolution is industrialized architecture (Quirk, 2012). Le Corbusier (Charles Édouard Jeanneret) was born in an artistic family in 1877 in a small village in the Swiss. His mother was a pianist and his father was a designer of watch dials. He learned piano and father’s trade, however the man brought him to architecture was his teacher in La Chaaux-de-Fund. When he was thirteen, his teacher, L’Eplatenier, who openedRead MoreLe Corbusier s Theory Of Architecture Or Revolution?1643 Words   |  7 Pagessigns from branch and vines of forests. â€Å"Architecture or Revolution?† in Le Corbusier’s belief was the only way to avoid class-based revolution in industrialized architecture (Quirk, 2012). Le Corbusier, born Charles Édouard Jeanneret, was born into an artistic family in 1877 in a small village in Switzerland. His mother was a pianist and his father was a designer of watch dials. Even though he learned piano and father’s trade he got interested in the architecture when he was 13 years old. He learnedRead More`` Architecture And The Crisis Of Modern Science ``1637 Words   |  7 PagesAlberto Perez Gomez, Peter Zumthor, and Steven Holl emphasize on the phenomenology in their design processes. Their compositions and beliefs are evidences of the power of phenomenon. In addition, they argue that the sensory experience between the architectural object and the audience of it should be complimentary. These designers are famous for reviving the emotion evoking spaces through expression of light and s hadow, material, and intimate human perception. The manifestation of this theory willRead MoreThe Walt Disney Company1449 Words   |  6 Pageshis own brand of architecture that he could peddle to the masses and, after time, his corporate investors. The Walt Disney Company, has since become an empire, and from the help of Michael Eisner during the Disney decade, a brand that cannot be easily avoided. Its presence has sprung up world-wide with no indication of slowing. The parks have transformed into a vernacular that can set up shop in any international environment. Unlike the buildings we commonly design today, Disneyland’s have littleRead MoreIntroduction To Software Architecture. Usaace. Ncoa. Ssg1220 Words   |  5 Pages INTRODUCTION TO SOFTWARE ARCHITECTURE USAACE NCOA SSG Guy A. Johnson 15USLC 17-003 â€Æ' The world is becoming more and more dependent on software systems. It is difficult to find any organization today that is not reliant or dependent on complex software systems in order to function. Software systems are comprised of many components and have become increasingly complex over time. As the complexity of the software systems grew, it has introduced new design problems and challenges. ManyRead MoreMy Views On Architecture And Architecture1535 Words   |  7 PagesModern Architecture Architecture is the foundation for how we live and shows expression of how we think. It returns our moulding of the world in order to inhabit it and the geometry of what we build is far from neutral. I chose to explore and research Longford Cinema which is located in the Greater Manchester suburb of Stretford. This astonishing building lies on the junction of Chester Road and Edge Lane, opposite Streford Mall. Designed by the architect Henry Elder. Longford Cinema is an astonishing

Overpopulation Is An Environmental Issue - 1816 Words

The question does not concern whether or not overpopulation is an environmental issue. The evidence is clear, the majority of researchers address this established issue with their own reasoning behind what the biggest cause or effect is. Overall, Hardaway (2014) found that around every one third of a second, the world creates room for one more human. Creating room for another person requires 3.2 tons of carbon, 2,000 square meters of fresh water, and 207 gigajoules of energy (Hardaway, 2014). This takes up more room and resources that the earth does not have. With this rapid growth in population, by the year 2050, the earth would need to have another living area the size of Brazil to accommodate for all the people (Kuo, 2012). With the lack of land availability, overpopulation will be impossible to survive off current natural resources. Researchers focus on why and how overpopulation is effecting the earth such as pollution, consumption, lack of resources, and overcrowding (Ku o, 2012; Wutich and Brewis, 2014). Overpopulation has numerous effects on the environment, and there are many different views on what is causing the biggest effect on the earth. Description Some researchers believe that pollution is the biggest effect on the earth. Pollution is one of the most well-known results of overpopulation. Hardaway (2014) says that carbon emissions is one of the major environmental group platforms they want to decrease, and eventually stop. Adding more emissionShow MoreRelatedThe Environmental Issue of Overpopulation1762 Words   |  8 PagesThe Environmental Issue of Overpopulation Jakira West June 10, 2012 The Environmental Issue of Overpopulation As time passes and our world’s population continues to grow, overpopulation is becoming a very serious issue deserving of the upmost acknowledgement and consideration. Throughout history crowding of the earth and the overuse of the world’s natural resources has hardly been a main concern. Today however, with a population of 7 billion people and counting, the diminishment of theRead MoreOverpopulation Is a Growing Problem Essay1424 Words   |  6 PagesOverpopulation is a growing problem all over the world. This is a very important environmental issue and needs to be dealt with. This environmental problem is affecting many countries in the world, but mostly the poor and impoverished countries that don’t have the resources to help deal with these issues. It also affects the environment like plants animal life and air quality. When the population of people expands we need more natural resources from the environment, so we consume more then we canRead MoreProblems Caused By Overpopulation Is The Rise Of A Place Populated With Excessively Large Numbers879 Words   |  4 PagesProblems Caused by Overpopulation in Cities Overpopulation is ‘The condition of a place populated with excessively large numbers’. It is considered a problem in many senses, since it causes a number of issues for various different reasons. One major issue caused by overpopulation is the rise of unemployment. This is when people actively seeking employment or just people that are able to work remain unemployed. Overpopulation causes this because the amount of jobs available would be the same as beforeRead MoreCauses And Effects Of Overpopulation1073 Words   |  5 PagesWhat are the effects of overpopulation? Overpopulation is an undesirable condition where the number of existing people on earth exceeds the carrying capacity of the earth. However, overpopulation has not always been a problem. At the dawn of agriculture, 8000 B.C., the population was approximately 5 million. 8000 years later, 1 A.D., the number of people existing on earth was between 200-300 million. That’s a growth rate under 0,05% per year. A tremendous change occurred with the industrial revolutionRead MoreThe Problem Of Overpopulation And Overpopulation872 Words   |  4 PagesHuman overpopulation. Human population can be defined as the condition whereby, the total count of the human inhabiting a certain area exceeds the carrying capacity of the area Bongaarts, (2011). This brings out an issue of the carrying capacity of the region which alludes to the number of individuals who can inhabit a certain area for a given period. It may also be looked at as the situation whereby the available renewable resources in a certain area can satisfactorily support the current populationRead MoreOverpopulation : We Must Figure It Out For Save The World Essay1645 Words   |  7 Pages Overpopulation: We Must Figure It Out to Save the World It may not be something you think about often, but human population growth is a big issue in our world today and this problem needs to be solved in the future to save our planet. Overpopulation is a condition that will be in effect if the population exceeds the carrying capacity on Earth. The carrying capacity is the peak population that can sustain human life on Earth. It is uncertain what Earth’s carrying capacity is for the human raceRead MoreOverpopulation’s Effect on Environment Essay934 Words   |  4 PagesIn today’s society there are many economic problems, such as pollution, global warming, and overpopulation. These problems have taken a toll on the environment, and its resources. Although all of these issues have an impact on our society, overpopulation stands to have the greatest impact on our environment, due to the large masses of people and the limited resources. There are many solutions to this problem but the common factor is the human race. The human race has to put controls in place andRead MoreOverpopulation Is A Catastrophe?841 Words   |  4 Pagesexperienced enormous changes in the people number. These changes have boomed considerably and have converted to overpopulation. Currently, the global population is 7 billion, and the increase rate is 1.3% annually that means by the end of the twenty-first century the population will reach twelve billion (Keenan, 2013). Therefore, there is a huge debate going on right now regarding overpopulation. For some people, explosion in population has no detrimental impacts in the future, and it will be bearableRead MoreOverpopulation Is A Serious Problem1442 Words   |  6 Pagesbe the greatest threat to the entire world is overpopulation. Overpopulation is a serious problem that is having an extreme effect on the health of every citizen of every country. The problems caused by overpopulation could even prove to be a fatal epidemic to the human population. Oftentimes overpopulation is overlooked due to a lack of knowledge or simply because many government officials have dismissed overpopulation and call it a myth. Overpopulation is an enormous and serious global problem thatRead MoreOverpopulation and Over- Consumption in India Essay733 Words   |  3 Pagesformidable amount of 1.27 billion and estimated to have 1.6 billion people by 2050. What will happen if countries like India keep growing? This issue is known as overpopulation. Overpopulation has become a very prevalent topic in the last ten years and if not controlled, it could affect all countries on earth. Although overpopulation appears to be an insuppressible issue, there are some different ideas and methods that have been used to help this problem. There are a plethora of factors that contribute

Completion Competency and Project Management

Question: Discuss about the Completion Competency and Project Management. Answer: Introduction: In the given case study, 30 % of unleaded petrol storage has been destroyed or collapsed because of damaged condition and storage tanks being used for more than 50 years. In this case, storage tanks will be repaired and repainted so that their condition can be improved for better operations. Goal of this undertaken project is to repair all three unleaded petrol tank in terms of patches, fitting steel anchors on top of tanks and clean repaint all three tanks. In this case project goal is to achieve these tasks within timeframe i.e. 40 days and within budget i.e. $ $ 25,000. All three tanks will not be repaired at the same time but tank 1 will be repaired first and then evaluated or tested on quality and timely completion grounds (Lambert, Bottomly, Gibbons, Nieves, 2015). If satisfied then next tank i.e. tank 2 will be repaired and repainted and so on. Goal 1: Get quotation from different repair companies and measure quotations Goal 2: Procure material and appoint required employees Goal 3: Complete repair and repaint of all tanks within stipulated time and budget and measured through assessing quality of repair and repaint work. Goal 4: Zeroing leakage of petroleum products into surrounding soil so that fines can also be zero and measured trial run and by storing sample unleaded petrol in tanks. Goal 5: Maximise profitability or increase profit margin from current state and measure through audit of project Scope statement of project Project scope is used to define boundaries of business operations or business functions that will be affected if project is undertaken i.e. during and after the project. In this case, undertaken projects scope is limited to functional area of business organisation. In order to determine scope of undertaken project, stakeholder analysis method has been used (Babou, 2014). Since repair project is undertaken on core business asset i.e. oil tanks therefore business objective will be hampered. There are some stakeholders that will be impacted with the undertaken project of repairing oil storage tanks: Identification of stakeholders Society: As current state of unleaded petrol tanks suggested that there is some leakage of petrol into surrounding soil therefore this has triggered environmental issues. Society has been facing issue of increased pollution level and disease because of leakage of petrol. Scope of repair project is limited to society also as they are affected from leakage and negative effect. 20 % weight-age Government: Government is most important stakeholder since currently business organisation is paying penalty of $ 20,000 per month. These penalty is imposed by government i.e. Health, safety and environment department and are in receipt of penalty i.e. financial resource. Success of this project will also affect government as there will be reduction or penalty can be nullified (Subramaniam, 2009). 30 % weight-age Oil dealers in Western Australia: Oil dealers are customers of business organisation undertaking repair project. Oil dealer will be getting less business for some time i.e. as and when repair project is undertaken. Business and relations will get hampered. 50 % weight-age Key deliverables Steel patches: Under this repair project, steel patches are to be used so that leakage of oil or petrol will be stopped. Sizes of patches are different for all three oil tanks ranging from 1.5 m2 to 3 m2 in size. Steel anchors: Another deliverable of the undertaken repair project is steel anchors to be fitted on the top of all three tanks (tank 1, 2 and 3). This should be included in key deliverables since they are important part of repair project and lead to improvement in infrastructure facilities (Gorog, 2016). Cleaning and repainting: All three tanks shall be cleaned from outside as per the repair project. All the three oil tanks shall be repainted from outside only and it is included in deliverables of the undertaken project. In case of tank 3, main supply valve shall be replaced. Size of main supply valve is 300 mm and is made up of stainless steel. Acceptance criteria Acceptance criteria of the project states terms and conditions or base for accepting project and accept that project is completed. Following are acceptance criteria of the undertaken repair project: All tanks start functioning again: Undertaken project will only be accepted when all the three tanks i.e. tank 1, 2 and 3 restore their function again or start to operate. If any of the 3 tanks does not restore functioning the project shall not be accepted. Storage of oil or petrol is the function of these oil tanks (Softtheme, 2012). There shall be no or negligible leakage of petrol: Repair project is undertaken because there is issue of leakage of oil from all three tanks. In order to overcome from this issue repair to all three tanks has been provided. Therefore another acceptance criteria of the undertaken project is no or negligible leakage of petrol after repair work. Leak detection and repair programme shall be undertaken once project work is completed (Gorog, 2016). Within time frame: Undertaken repair project will be accepted only if completed within decided timeframe. Grace period or grace days will also be provided to repairing company, so that they can complete repair work within that time. Delay in decided project deliverables in terms of time can postpone acceptance and penalty will be imposed on repairing company (Marsanu, 2010). Approval of project manager: Once key deliverables has been delivered or completed then project manager will check whole deliverables. Overview of projects overall process Project Initiation: At this stage, issues like leakage and environmental fines imposed by government are undertaken by business organisation. Repair project if undertaken will reduce leakage of oil tanks and increase profitability and feasibility test has been performed (Esposito, 2015). Project Planning: At this stage, plan in terms of execution of repair project will be made. Roadmap will be developed for repair project using SMART technique in terms of setting goals and scope of the project. Project Execution: Team development, execution of planned activities and other tasks specified in repair project will be undertaken. Project Monitoring: At this stage, project activities will be monitored and performance is measured. In this stage, focus on key deliverables will be placed (Esposito, 2015). Project Closure: After testing and accepting repair project, project will be closed with proper documentation. Monitor and control of project completion Preparation of Gantt chart: In order to monitor and control project activities and completion of repair project, Gantt chart will be used. Gantt chart can be defined as the statement that shows schedule of activities or actions to be taken to complete the repair project. Statement of schedule of activities to be taken in undertaken project: Sr. No. Activities Start day Days End date 1 Get quotation from repair companies March 1, 2017 4 March 4, 2017 2 Procure material March 5, 2017 3 March 7, 2017 3 Appoint required staff March 8, 2017 2 March 9, 2017 4 Start repair and repaint work of tank 1 March 10, 2017 6 March 15, 2017 5 Start repair and repaint work of tank 2 March 16, 2017 12 March 27, 2017 6 Start repair and repaint work of tank 3 March 28, 2017 20 April 16, 2017 7 Testing of leakage and quality of work April 17, 2017 3 April 19, 2017 50 days Success measurement Reduction in environmental fines: Success of the undertaken repair project will be measured by assessing and estimating environmental fines that were imposed prior to repair project. If environmental fine is reduced to zero or fine is imposed up to $ 3,000 then undertaken repair project is tends to be successful (Haverila Fehr, 2016). Increase in profitability: Another success measurement or criteria of the repair project is profitability of business organisation. If profitability is increased because of less cost incurred on tanks and reduction in penalty cost, then repair project deemed to be successful (Liu Klein., 2010). References Babou. 2014. What methods techniques are used in Project Scoping? Retrieved March 23, 2017, from leadershipchamps.wordpress.com: https://leadershipchamps.wordpress.com/2014/01/06/project-scoping/ Esposito, E. 2015. Demystifying the 5 Phases of Project Management. Retrieved March 23, 2017, from www.smartsheet.com: https://www.smartsheet.com/blog/demystifying-5-phases-project-management Gorog, M. 2016. A broader approach to organisational project management maturity assessment. International Journal of Project Management, 34(8), 1658-1669. Haverila, Fehr. 2016. The impact of product superiority on customer satisfaction in project management. International Journal of Project Management, 34(4), 570-583. Lambert, E., Bottomly, Glenn, Gibbons, Susan, Nieves, Jose. 2015. Complex Factors Related to Capital Construction Project Success: A Case Study, ProQuest Dissertations and Thesis. Liu, Chen, Jiang, Klein. 2010. Task completion competency and project management performance: The influence of control and user contribution. International Journal of Project Management, 28(3), 220-227. Marsanu, R. 2010. Project Management Metrics. Oeconomics of Knowledge, 2(2), 10. Murray, D. 2013. Tableau Your Data! Fast and Easy Visual Analysis with Tableau Software. Hoboken: Wiley. Softtheme. 2012. Acceptance criteria. Retrieved March 23, 2017, from www.slideshare.net: https://www.slideshare.net/softheme/acceptance-criteria-12257473 Subramaniam, A. 2009. Project Metrics Measures. Retrieved March 23, 2017, from www.slideshare.net: https://www.slideshare.net/anandsubramaniam/project-metrics-measures

Economic Conditions Affecting Investment in the Stock Market

Question: Write about theEconomic Conditions Affecting Investment in the Stock Market. Answer: Investing in the stock market can be a confusing and daunting task for first-time investors. The stock market is a complex market, which involves many fundamental and technical analyses of the market indicators. Securities markets are very volatile and insecure especially to investors who have little knowledge of how it works(Hafer Hein, 2007). The investor has to consider many factors that may affect how the investment will be to avoid losing capital. A number of factors that will affect the investment decision of a first-time investor. In this essay, we shall discuss the economic factors that affect investment decisions regarding the stock market. According to Petroni et al (2013), the economic factors include interest rates, changes in GDP, inflation, unemployment, and foreign exchange rates. Interest Rates This is the most relevant economic factor that affects how investors put their money on stocks. Interest rates are established by the Reserve Bank and individual commercial banks. The rates can have an adverse effect on the stock market because investing in stocks is a form of lending money to the companies(Petroni, et al., 2013). The higher the interest rates, the more expensive it is to borrow money. The increase in the interest rates will lead to the investors requiring higher returns from the stocks since the risk-free rate is now higher. Risk-free investments include investing in government bonds or depositing money in a bank account. This means that the return involved in taking the risk is now higher and higher risk will demand a higher return. Companies, however, are not in a position to manipulate their returns at any particular short notice. Prices of the stocks may drop due to the increase in interest rates. Keeping all other factors constant, the investors may have to buy the stock if they do not mind taking the additional risk involved. Nevertheless, low prices of stock do not mean that the stocks are undervalued(Hafer Hein, 2007). Inflation and Deflation Inflation refers to the rate at which the prices of commodities in an economy increase while deflation is the opposite of inflation involving drops in the costs of commodities. Inflation is caused by changes in the cost of other factors that affect the final price of the commodity. Such factors include costs of manufacturing, transport, and other external factors like the conditions involved in producing the commodity(Abel, et al., 2015). Inflation can have profound effects on the stock market and will influence investment. Low rates of inflation cause investors to sell intensively while high inflation rates will cause investors to assume that companies are holding back on spending. This cause a reduction in revenue. The high prices of commodities together with less revenue will cause the stock market to drop. The same happens in the case of deflation where investors will view deflation as a sign of a weak economy and hence a drop in the stock market(Petroni, et al., 2013). Whenever there is an indication of increasing rates of inflation, the Reserve Bank tries to handle the situation by increasing interest rates in trying to syphon the excess liquidity from the system. By doing this, the Reserve Bank hopes to attract investors to put their money in fixed income instruments. In theory, the less liquid the system is, the less the economy will speculate demand for commodities hence the inflation rate will slow down. Expectations of higher interest rates in the future has a bearish effect on the stock market. Higher interest rates encourage investors to move their cash from stocks to more secure and attractive investments like money market funds. This has the effect of lowering the demand for stocks and hence the prices of shares will as well come down. In addition, stocks are a good investment during times of high inflation. This is because companies can raise prices to counter the rising costs of commodities due to inflation. For instance, when the cost of production increases due to inflation, companies can easily pass the increased costs to consumers by increasing the prices over time. The increase in prices of the companies merchandise means that there is an increase in revenue and earnings. Share prices for these companies will increase as well because of the higher earnings that will lead to a higher valuation. Therefore, the investor should know and take advantage of the changes in inflation and consider the market falls. Stocks are a good way to hedge against inflation in the long term. Foreign Markets Economic trends in other markets around the world impact the local stock market of any country. The world is increasingly becoming smaller because of the internet and advances in communication. This also applies to the financial markets as geographical boundaries are now meaningless and there is an easy flow of information and economic data around the world. A countrys stock market may represent a chunk of the countrys economy (the countrys companies operating within the country and employing the citizens of that country). However, this stock market is faced by a big influence from the rest of the world especially from the performing giants like the US, Japan, China and Australia. The activities in these big economies can have a big sway over the market than that caused by the domestic companies and economic data. When the foreign market is facing difficulty, the domestic companies will not be able to sell as much as their potential can allow. This fall in sales causes, a drop in revenue and these will heavily influence the stock market of any particular economy. Therefore, the investor needs to consider the activities and trends that the international market is taking before investing. Economic Growth Rates Whenever economic growth rates of an economy are mentioned, it often revolves around the GDP. GDP is the total monetary value of economic goods and services produced by an economy over a certain fixed period(Mankiw, 2007). A higher GDP indicates more economic activity and higher growth figures indicates that the economy is healthy and this may lead to better investments because of the expectations that there will be better stocks return. The basis of this theory is that the GDP of an economy is made up of a combination of its consumption, investment, government spending and its exports less the imports(Mankiw, 2007). Any increase in any of these factors is expected to have a positive effect on the sales of companies. Better sales for companies means there will more be earnings recorded and this will translate to higher returns in the stock market. The opposite of this also holds. However, this is not usually the case because the figures do not have a direct relationship. GDP figures are usually from the past to the present while equities are forward-looking. That is, the investors tend to value stocks in terms of its current value and the returns that it will fetch in the future. Nevertheless, this does not mean that there is no relationship between economic growth and investment. Companies require a healthy economy for them to perform well. An economy that is performing badly will provide low profits for companies. This, in turn, will mean lower stock prices for some of the firms. Comparison of the GDP growth of different economies can help the investor to make a decision whether to invest in domestic or foreign markets. Most investors will buy stocks of companies that operate in rapidly growing economies(Hafer Hein, 2007). Therefore, an investor needs to consider the future performance of an economy in making investment decisions. The investor should consider how the GDP is growing to see how the economy is changing so that he can be able to allocate his assets efficiently. Unemployment Similar to the GDP, unemployment rates show how developed and strong an economy is. It indicates the amount of people in the economy who are responsible for the production of the GDP of the economy. The government policy makers and economists use unemployment rates to determine the current state of the economy and predict the future levels of productive activity in the economy. Investors also ought to follow the figures closely and digest potential changes in them because they are critical to an economys health(Petroni, et al., 2013). The relationship between unemployment rates and activity in the stock market is quite straightforward. Lower rates of unemployment indicate more economic activity in the consumers market and hence more revenues for the corporations. More people in employment will ensure a high economic output, increased retail sales, more savings and more profits for the companies. As a result, the stock market always rises or falls depending on the reports on employment. All the factors that we have discussed above have an impact on how an investor will make decisions concerning the stock market. it may not be wise for the investor to make decisions basing on a single factor. This is because, as we can see from the above explanations, most factors are interrelated. In addition, latest data and figures on the GDP, inflation, and unemployment are usually backdated and refer to the past. They do not indicate the current situation in the market while investment is about speculating about the future trends in the market. Past data may not provide these trends but the investor will need them to consider the economic conditions and how the conditions will affect the returns in the future. This way the investor can make decisions that are more informed. References ABEL, A. B., BERNANKE, B., CROUSHORE, D. D. (2015).Macroeconomics. ALTAY, E. (2003).The effect of macroeconomic factors on asset returns: a comparative analysis of the German and the Turkish stock markets in an APT framework. Halle (Saale), Univ., Wirtschaftswiss. Fak. BERNSTEIN, J., BERNSTEIN, E. R. (2002).Stock market strategies that work. New York, McGraw-Hill. https://public.eblib.com/choice/publicfullrecord.aspx?p=4654781. BIGGS, B. (2014).Biggs on finance, economics, and the stock market: Barton's market chrinicles from the Morgan Stanley years. Hoboken, New Jersey, John Wiley Sons. 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