Week 6 Individual Project

Budget management analysis is used by mangers as a tool and helps determine that all resources available are being used efficiently. The budgets are determined yearly and are based upon the previous year’s budget and variances. This paper will discuss specific strategies to manage budgets within forecast, compare five to seven expense results with budget expectations, describe possible reasons for variances, give strategies to keep results aligned with expectations, recommend three benchmarking techniques, and identify those that might improve budget accuracy, and justify the choices made.

Communicating in Teams. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

1.) Design an if-then statement that assigns 20 to the variable y and assigns 40 to the variable z if the variable x is greater than 100. (Simple if statement)

In a project the communication level is a very important part from the beginning to the end of project close out and completion stage. This method in the plan is extremely necessary and it is a needed tool that helps assist the project team, the stakeholders, and the executive team of Enterprise. This tool is effective and it makes sure all members involved with the project is on the same level of understanding, it makes sure all involved stays updated on the

All things considered, communication must be improved. It is my belief that if employees are informed and made to feel a part of a functioning team, we will see a great improvement in employee morale, more error-free projects will be produced, and client deadlines will be met with less overtime requirements. In order to open the lines of communication, to boost employee morale, to reduce the number of overtime hours, to eliminate client dissatisfaction, and to enhance the project quality, and to improve on performance, I recommend that the following steps be enacted. • • • • • • • The CEO will hold weekly staff meetings Department managers will conduct a weekly staff meeting An all-hands meeting will be held monthly Publish a monthly newsletter Place suggestion boxes in every department Implement a project tracking system Appoint an employee to schedule and monitor the progress of all projects

I will start by introducing the project that I decided to do for 5s assignment. The 5s project which it is a method that many companies use to organize their workplace to make it more effective and useful for their employees. For example, at my work we already have 5s implemented and it is working great so far. It is easy to identify tools that we the employees need in the daily basis and we all collaborate to keep it sustainable. However, since at my work we are pretty good on this project and there are not more areas where I can take the opportunity to implement 5s I decided to do 5s to my storage house.

It is essential that there is effective communication to build an effective team. Effective teams need to work well together and that team cohesiveness depends on building strong relationships among team members. Communication is crucial and is driven by the team leader who will work with the team to establish ground rules and work to bring the team together so that it can accomplish its goals. All teams will go through expected stages of development, from forming to storming to norming and eventually performing according to Tuckman. Navigating through these stages effectively will help teams build relationships which in turn improves communication. Effective team communication can lead to both personal and professional development. Some examples of good communication are the holding of regular catch up meetings, active listening (by management and team members), regular feedback, clear vision and goals. In contrast to the above poor communication skills can have an adverse effect on team working. If team members are not communicating amongst themselves then

1. Write checks to pay the following bills. The beginning balance in the checkbook is $4562.79.

The implementation phase is to combine the individual components of the system, verify and test, convert data and integrate system components, document and install the system. (Post & Anderson). The project’s risks and probability of its success will be based on the feasibility study that included both economic via cost-benefit analysis and legal reviews. Moreover, before the sign off a great deal of financial analysis went into this project including ROI (projected return on investment) and NPV (projected Net Present Value). The (ROI) is a calculation that measures the average rate of return earned on the money invested in the project. NPV is a basic formula to convert future cash flow to present value. (Thomson, Strickland, and Gamble)

The company should accept this project. The project payback period is between 2 to 3 years.

This makes it problematic to obtain and share information promptly as you need to wait for the others to come online to read what you have said or asked before you can get a response. Similarly the members of your team all have various amounts of time they can devote to the project each week, meaning some may be slower than others at posting their work to the presentation making conclusive proof reading and formatting a slow

It is important to agree and commit to a strategy for communicating as a project team. Consider options. Having a communication strategy that people haven’t had an opportunity to agree on, or who aren’t aware of, will mean that communication won’t be effective.

You are a project manager for a company that utilizes informal project management techniques. Thirty days into the project you realize that the team is not communicating effectively and dates are starting to slip. What two actions might you take to correct this situation?

Constant technological development of the nowadays world dictates constant emergence of new trends. One of such trends which the nowadays business world has been familiar with for several decades is the technology called Warehouse Management System (WMS). Warehouse management system has a purpose to automate and refine the management of the inventory in a warehouse, warehouse space, the people who work in the warehouse and the time available to accomplish warehouse tasks (Young 2009). In case of correct and thoughtful implementation this system allows for improved productivity, increased customer service and better level of asset utilization.

Implementation of excellent quality comes with a cost. The company must decide if it is really worth compromising the quality for revenue. If the quality costs exceeds the expected revenue of the company then the company must abandon implementing quality control mechanism. If otherwise, the quality would contribute to the product value and hence the revenue.