Outsourcing

Along with the Benefit Measurement Method, Constrained optimization method can also be used which involves mathematical approach. Since this method involves the mathematical approach, several calculations are performed in order to take a decision to accept or reject the project. “Mathematical models, also known as Constrained Optimization Methods, are a category of project selection methods, which is a tool and technique of the Develop Project Charter process” (PMP, 2008). Cost-benefit analysis is one of the methods which fall into this category. All the positives and negatives of the project are taken into consideration and then the negatives are carefully excluded from the benefits. Different results are produced for the different projects. The most worthy and financially rewarding option are selected from these results. When employing this method, there are many things that are to be considered such as the impact of the decision on the development of the organization in the future, the length of time the equipment lasts and whether it is possible to do the cost control during the project.

The concept of cost-benefit sounds simple enough but to apply it you have to decide how to measure relative costs and benefits which can become tricky. Different people may feel differently about the value of different things. A classic example is whether a not you should walk downtown to save $100 on a $500 dollar guitar. The benefit here is saving $100. The cost being the time it takes for you to walk downtown and what else you could be doing in that time. If you feel that your time is worth $100 than you make the trip downtown. If you feel your time is not worth a $100 then you do not make the trip. However if you decide to make the trip then you should make that same trip to save $100 even if you are buying a $3,000 painting. It is important to ignore proportions and focus on absolute dollar amounts.

I would agree with you regarding why Weston City take utilizes an outsourcing system, and it does seem to working for their city. Not to mention, outsourcing has become the norm for many organizations, and the public-sector has become committed to outsourcing, which allows the private-sector to grow because the majority of the jobs are outsourced to the private sector. So the indication of contracting public services to private companies to cut cost makes sense. If someone is willing to fix streets or put out fires for less money, that should be a plus for a government’s bottom line. Many state and local governments have identified hundreds of millions of dollars in savings by hiring outside contractors or a neighboring city’s services to

The Cost Benefit Analysis (CBA) was conducted so that the stakeholders could make an informed decision

The purpose of this analysis is to compare and contrast two projects in terms of Project Management, Quantitative Analysis and Economics while illustrating the

The cost-effectiveness analysis is a method used to examine in contrast the costs and results of two or more interventions with the same objective. The cost-effectiveness analysis is beneficial for correlating responses when dealing with or discussing similar health issues in a natural unit such as deaths, sickness, prevention of burns, and the monetary costs of these interventions.

Outsourcing, or the practice of Corporations expanding their influence, and labor force to foreign countries needs to stop. As it causes the decline of developed nations labor forces, does nothing to fix inequality in underdeveloped nations, has adverse affects on the economies of developed nations, and outsourcing allows corporations to cause extensive harm the the world, and it’s enviornment. If the practice of globalization were ended, it would improve the lives of many people in developed nations, the policies that affect them, and ultimately the world.

What are the true reasons that companies are doing business around the world and outsourcing American jobs to other countries? Mainly, American jobs such as Accountants, Technicians and Programmers are losing their Jobs because of globalization. Most of American jobs are outsource to countries such as China or India, therefore, before this taken place Americans had more of a better stable career path or even more jobs to choose from eventually, times have changes very rapidly due to companies moving American jobs overseas. As stated by many politicans, executives, prominent corporate executives and academics “have argued that we have no choice, that with globalization it’s critical to tap the lower costs and unique skills of labor abroad to

Outsourcing is the process of “hiring foreign workers to do a particular task, as opposed to hiring indigenous workers” (fee.org). Although it may seem like a favorable business approach, it only provides a gain out to large corporations. Since outsourcing is assembled around extensive cooperation’s, it steals from the “mom&pap” stores.

According to Investopedia, outsourcing is “a practice used by different companies to reduce costs by transferring portions of work to outside suppliers rather than completing it internally” (Investopedia, n.d). Companies use outsourcing to reduce costs and improve productivity. In the 1970’s and 1980’s was when companies first began looking for alternatives to increase their profits and increase the production of their products (Narayanan, 2015). Products were becoming to expensive to make in the United States and other lesser developed countries were less expensive, and that is why the United States turned to China for production. There are lots of other reasons for outsourcing such as gaining access to new markets, gaining global knowledge, focusing on their core business practices, and being closer to their resources. Gaining access to new markets happens because the company is moving production abroad, and they are in a whole new area. When they begin production in this area, the people of that country are opened up to that new idea. Also gaining global knowledge is very similar to gaining access to new markets. With the company being in a new country they learn a lot about that country. They need to learn practices, customs, language, etc. If that company doesn’t learn customs, beliefs, or practices then they can offend the citizens of that country, and then their company will not be as successful. If a company decides to outsource, they also can focus on their core

Since the economic model for this project is based on many assumptions, it is important that

In analyzing the second reason listed for why outsourcing is used; ‘inability to attract the highest caliber of employees to job functions that may be peripheral to the organization’s core discipline’, companies employ a different kind of outsourcing tactic. This reason leads to offshore outsourcing solutions. If a company cannot attract high caliber domestic employees to job functions secondary to their main function then they seek help where labor may be less expensive and more efficient.

Outsourcing - is negatively affecting businesses in the United States and results in high unemployment, loss of income, and loss of competitive advantage. American companies have hired people from foreign countries that are highly skilled, but were willing to accept lower salaries, resulting in hundreds of thousands of American people being without a job. The effects of outsourcing has made it even more difficult for American people who are at or below the poverty line that willing to do minimally skilled jobs, to find employment.

Project finance is best understood in terms of a risk allocation which reconciles the potentially conflicting objectives of borrowers and lenders by utilizing the long-term economic and commercial linkages between the sponsors, lenders and third party participants involved with a project. (Howcroft &Fadhley, 1998).

The first step in Cellini and Kee's framework is to determine if the analysis will be cost-benefit or cost-effectiveness. Cost benefit analysis is considered by the authors to be the superior technique (p.496) so that is what will be used. The