Faced with a difficult choice: abandon a dying teammate on the mountain and descend alone or stay with a dying teammate and face almost certain death. The words of philosopher Martha Craven Nussbaum seems an appropriate preamble. She writes: “Both alternatives make a serious claim on your practical attention. You might sense that no matter how you choose‚ you will be left with some regret that you did not do the other thing. Sometimes you may be clear about which is the better choice‚ and yet feel
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Homework: choose four classic mistakes for each group: people‚ process‚ project‚ technology‚ and explain how you can defeat each of them. Process Poor estimating and scheduling * Utilize timebox development (shorter‚ smaller projects are easier to estimate) * Create a work breakdown structure to help size and scope projects * Retrospect to capture actual size‚ effort and time data for use in making future project estimates Insufficient risk management * Appointing a risk officer
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placed in the bond the higher the interest rate will be. 2. Referring to the example in Figure 12.2a‚ suppose the market rent for a two-bedroom unit is $550 per month and for a three-bedroom unit is $650 per month. If the going cap rate is 10%‚ rework the pro forma calculations for the apartment project of Figure 8.2. Then determine the lender’s interest rate. What is the new breakeven vacancy factor? The total estimated monthly income would be $43‚250 and other income would remain the same at
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CHAPTER 12 PRICING DECISIONS AND COST MANAGEMENT 12-1 The three major influences on pricing decisions are 1. Customers 2. Competitors 3. Costs 12-2 Not necessarily. For a one-time-only special order‚ the relevant costs are only those costs that will change as a result of accepting the order. In this case‚ full product costs will rarely be relevant. It is more likely that full product costs will be relevant costs for long-run pricing decisions. 12-3 Two examples of pricing decisions with
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explain how we calculated the figures mentioned in above table. Assumptions: • For custom shirts‚ the time for new cutting machine is 2.5 minutes; this includes the roll out time and cutting time. • We are taking the assumption that they are doing no rework. We will now explain each calculation‚ how we calculated cycle time‚ Manufacturing lead time (MLT)‚ WIP inventory etc. Actual Cycle Time (min/shirt): In order to calculate cycle time‚ we know that cycle time of a process is the cycle time of its
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productivity needed to offer low prices are not mutually exclusive. Products made correctly the first time do not have to be reworked or scrapped‚ which translates into lower costs for materials and workers. If one includes the time required for rework‚ time expended for the production of each product would be lower if quality control becomes a line responsibility. 3. “You don’t inspect quality into a product; you have to build it in.” Discuss the implications of this statement. The typical
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TPM T Total -Overall efficiency -Total production system. -Participation of all employees. P Productive -Zero defects. -No trouble in operation. -safety. M Maintenance -Longer life cycle of production system. Purpose of Maintenance: Attempt to maximize performance of production equipment efficiently and regularly. Prevent breakdown or failures. Minimize production loss from failures. Increase reliability of the operating systems. Maintenance Objectives: Must
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Imperialism caused more problems than progress because of the destruction of the Zulu tribe and culture‚ as seen through the control Shaka Zulu had over his tribe‚ the military prowess of the Zulu tribe‚ and the land taken by white men. Shaka Zulu had absolute control over his tribe and territory‚ which spanned across present day KwaZulu/Natal area (King Shaka Zulu). Given Shaka’s iron grip on his nation‚ an attempted invasion of his lands or assimilation to Western culture would not be taken lightly
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Prior to the onset of modern project management‚ the success criteria of a project lay solely on the technical success‚ or scope of the resulting product or service. Today‚ adherence to budget and schedule form a triangle of success factors alongside scope‚ with client satisfaction also developing as a key determinant of project success (Kerzner‚ 2004). However‚ the delivery of project scope will always take precedence over all other project factors‚ because if a project fails to deliver on its original
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left with too many ways of fighting it. What Are the Major Reasons for Inventory? Demand which is acquired from the customers can be a source of inventory. Billing which is a paperwork operation can lead to increase in the rate of inventory. Scrap‚ rework etc has often led to the growth in inventory in a company. Inventory is often considered to be a buffer which is required due to many uncertainties. Inventory is often considered to be the safety stock but it leads to problems like hampering the profit
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