Tuesday, January 21, 2020

Conflict in a Dangerous Spring :: essays research papers

In the novel Dangerous Spring, by Margot Benary-Isbert, conflict is a reoccurring theme between many characters and events that provides the driving force for actions in the story. The story takes place during the final days of World War II. Although this point in time provides the basis for the conflict, there are many other situations where conflict is shown. The main character, Karen Lorenz, experiences the most of this trouble. Conflict is the theme that is shown best in this story, because there are many situations that build up. We then see the resolution of each situation.   Ã‚  Ã‚  Ã‚  Ã‚  The story begins in spring on Easter Monday, April 2nd, of 1945. Karin Lorenz and her family live in the small town of Erfurt in Germany. The Lorenz family hears news that the Allied invasion is expected to be storming through into surrounding areas of Erfurt. Conflict is immediately shown here in that there is war taking place between Germany and the Allies. The advance of the Allies causes Karen to attempt to convince her family to escape to Eberstein, where Pastor Helmut Lobelius, Karen’s boyfriend, lives. Helmut had invited the family numerous times, but Karen’s father was against the idea because he is a doctor and needs to tend to his increasing number of patients. Karen’s parents also believe they are in safety because they deem that there is not much fighting left to do. This shows conflict in that Karen’s parents do not believe in her ideas. They think she is just an impractical girl with a silly idea, and they believe that eve rything will be fine with time. Word is then heard that Erfurt is in the path of the Allies and that the town is to be invaded soon. Karen finally persuades her parents they need to escape Erfurt while there is still time. At the close of the novel, the war resolves to an end. The Lorenz family returns home to a war-damaged Erfurt. Another resolution is that Karen grows more mature and her parents learn to listen to her more.   Ã‚  Ã‚  Ã‚  Ã‚  Karen’s brother, Till, is a very strong supporter of Hitler at the beginning of the novel. He was involved in the Hitler Youth Movement, called the H.J. Till was carefree, daring, and brave at the beginning. Till must leave the H.J. when the family leaves for Eberstein. While Till’s family is staying at Helmut’s, Till meets a girl who offers him work at her father’s farm.

Sunday, January 12, 2020

Project Risk Management – Holyrood Project

Project Risk Management| M3N313401-12-B| Group report    Jenna McCall : S1O21235 Adelle Kelly : S1023858 Angela Mitchell : S1034517 Luciano Farias : S1306729 Iaponaira de Abreu : S1306726| | | 5103 words Contents 1. Introduction 2. 1 Executive summary 2. Case study . What is project management 4. 2 Successful project management 4. 3 Risk management in projects 4. Project Scope 5. 4 Cost management 5. 5 Time management 5. 6 Project management tools 5. Stakeholder management 6. Conclusion 7. Recommendations 8. References 1. Introduction After the identification of the requirements of the Holyrood parliament building, responsibility for the construction of the project was handed over to the Scottish Parliamentary Corporate Body in June 1999 which took place over the course of 5 years.A project goes through many phases throughout its lifecycle and can be deemed successful if implemented efficiently against initial objectives. This includes cost effective, quality management and co mpletion within the required time scale with the overall aim being to meet stakeholder’s objectives. A project that fails is said to be one that lacks quality, control and management. In order for project management to be effective, both strategic and operational strategies must be incorporated. 1. 1 Executive SummaryProject risk management is a systematic process concerned with reducing the risks and uncertainties involved in business activities, essential if a project is to achieve its objectives which typically include scope, time and cost. It is based on managing people so that a project can be actively managed reducing the risks that could occur. After the objectives have been defined, in order for appropriate risk management to be exercised, a traditional SWOT analysis should be conducted to identify strengths, weaknesses, opportunities and threats involved in the project.This report discusses the foundations of project management and indentifies the Political, Economic al, Social, Technological, Environmental and Legal drivers that can influence project management. In order for the project team to achieve successful completion of the project against delivery time and budget they should follow four steps- identifying the objectives, the projects deliverables, and the schedule and supporting plans. Overall project risk management forms the basis of any successful project. It is used to identify the challenges that the project is particularly vulnerable to in order to ensure impact is minimised.It is vital that the project team makes effective use of risk management in order to manage unforeseen complication which could arise. The biggest challenge that projects face is the inadequate management of planning. Failed projects tend to be ones which over stretch budget, schedule and do not accomplish its desired purpose. 2. Case study The construction of the ‘Holyrood Parliament Building’ first began in June 1999, and the Scottish Parliament held their first debate in the building on 7th September 2004. The official opening of the new building was on 9th October 2004 and was opened by Queen Elizabeth.From when construction began in 1999 until the opening of the parliament building in 2004, the committee rooms and the debating chamber of the Scottish Parliament were forced to hold their meetings in the General Assembly Hall of the Church of Scotland. Office and administrative accommodation which were supporting the Parliament were located in buildings leased from the City of Edinburgh Council. However, the new Scottish Parliament Building allowed the different sectors within the Parliament to amalgamate into the one parliament building. According to The BBC (2004), in the initial planning stages the predicted ? 0 million was set aside by the government to fund the project. This amount remained fixed until additional uncontrolled construction costs resulted in the project cost to increase to ? 109 million in June 1999 to a total cost of ? 414. 4 million which in turn resulted in a 20 month delay to the initial schedule. The BBC (2004) also suggested that the main cause of the delay in the project finalisation was due to the â€Å"production of detailed designed variations and the late supply of information during the construction process†. The deadlines which the project manager provided for the construction of the parliament building were very tight.The BBC (2004) argues that these deadlines did not reflect the complexity of the building which resulted in both architects and trade contractors failing to deliver critical foundations of the project therefore meaning the project timescale overrun. The project manager failed to realise the unlikelihood of the targets set being achievable and therefore failed to alter the timeline to reflect this. Also the project manager should have completed steps which would allow the realisation of the key problems which were in turn causing the negative eff ect on the project’s performance in both cost and time.The project manager should have never relied on assumptions when producing construction programmes which would have resulted in the estimations of cost and time to have been realistic and therefore would have prevented the project running over time and budget. 3. What is project management Project management â€Å"provides an integrated framework for project organisation, planning and control which is designed to: ensure the timely and cost effective production of all end products†. (Project Smart, 2013) It should be delivered within the defined scope, time, and budget.Overall, â€Å"at its most fundamental, project management is about people getting things done† (Barnes, APM President, 2013). The project management lifecycle goes through various stages before it is completed where each phase is measured against checklists to ensure operations are running according to plan. The initiation phase is the beginn ing of a projects lifecycle. This is a vital stage where ideas are explored and plans elaborated, allowing feasibility and resource requirements to be examined. This stage also allocates who will take charge of the process.This involves entrusting the entire project with the project manager where they will â€Å"cultivate the  people skills  needed to develop trust and communication among all of a project's stakeholders†. (PMI, 2013), coordinating the task against budget and delivery time. Once the project plan has been reviewed and approved by sponsors, the project enters the second stage: definition. This involves the identification of the expected outcome of the complete project. Typically, the execution phase is when resources are applied to the task.A list of requirements is drafted; suppliers and contractors are brought in alongside a schedule detailing the materials and resources needed. Followed by the monitoring and control process which involves the construction of the task measured against plans. The final stage in closing the project involves carrying out an evaluation which is vital as it â€Å"compares what has been accomplished (evidence) with what should have been accomplished (criteria) and then makes a judgment about how well it was done. † C. L. Taylor (1998). 4. Successful project management Successful projects are typically ones which are executed within the required time scale and do not exceed allocated resources. Therefore, a project will be deemed successful if it: delivers the outcome within required time and quality, remaining within cost of resources. There are 5 stages that contribute to project success: 1. Objectives 2. Stages 3. Organisation 4. Planning ; Control 5. Leadership ; Management Objectives – They truly define a project and make it something concrete rather than abstract.Stages – Projects step through different phases, such as the research and exploration phase, a decision phase, a planni ng and organising phase, an implementation phase, and then a closure phase. Organisation – Since projects naturally operate outside of normal hierarchy, perhaps even crossing boundaries, it is the Project Manager’s duty to set organizational foundations for it, or rather, a â€Å"chain of command†. Planning and control – No matter the project, whether a new building or a cultural change project, are always moving into uncertain regions through uncertain paths.Leadership and management – Required for a project to reach successful team development, by allowing negotiations and influences to occur. Successful project execution is also based largely on the role that the parties involved play in the management of operations. The relationship between the project team manager and how information is communicated, both internally and externally, to stakeholders is vital to its success including team members, sponsors and senior management.There is a great d eal of risk associated with the management of any project, organisations will often gain from the benefits when the project is completed. Increased risk management as risks will be defined and identified which can â€Å"promote an uninterrupted progression of the activities within the project and, by implementing the appropriate measures, remove any interruptions as quickly as possible†. (Well-Stam, 2004) 3. 2 Risk management in projects The bigger the project, the more complex it becomes to manage, accompanied with increased risk.Project risk management â€Å"is a structured process that allows individual risk events and overall project risk to be understood and managed proactively optimising project success by minimising threats and maximising opportunities. † (APM Body of Knowledge, 5th edition section 2. 5) To be fully effective, risk management in projects requires an understanding of how risk is managed as â€Å"the need to manage uncertainty is inherent in most projects that require formal project management. † (Chapman, et al. , 2003)It is essential to conduct a swot analysis 4. Project scope â€Å"A projects scope is the sum of the work content of a project† (Murray-Webster. R, and Simon. P, 2007). This suggests all the necessary elements which have to be completed in order to achieve the projects time, cost and quality objectives and success criteria. It is crucial that a project manager has a clear understanding of the projects initial scope. They would also be required to communicate this to the organisations team and all of their stakeholders.Any consequential changes can be managed which will allow the avoidance of ‘scope creep’. According to Cupe (2010), scope creep is when continuous growth occurs in a projects scope. This is initiated when project management fails to control changes in their necessary elements. Scope Management Scope management involves the identification and defining of all of the elem ents of the project scope and to ensure that the scope is continuously up-to-date. In turn this will help manage scope creep in a project.It is a project manager’s responsibility to protect scope and prevent the occurrence of scope creep. For effective scope management, project managers must control what is and what is not in the scope of the project (Project Smart, 2013). After a review of the project scope and in the event that it is no longer effective, a project manager may decide to implement changes into the process using a â€Å"change control process† (Murray-Webster. R, and Simon. P, 2007). 4. 1 Cost management â€Å"Cost management is the process by which companies control and plan the costs of doing business.Individual projects should have customised cost management plans, and companies as a whole also integrate cost management into their overall business model†. (wiseGeek, 2013). If applied correctly, cost management reduces costs of production for p roducts and services, as well as delivering products with increased value to the customer. For a project's management to be effective in general, cost management needs to be a prime feature. For instance, in the initial stages of a project, the predicted costs need to be identified and measured.It is imperative that these expenses are then approved before any purchasing occurs. Throughout the completion of a project, all incurred costs should be made note of and kept in record, thus ensuring that costs are under control and maintained in line with initial expectations, to the extent that this may be feasible. The major challenges involved in the Holyrood project arose from the failure to identify the scope of the project when initial plans were undertaken, ensued by scope creep in cost.The earliest cost estimates for the Scottish Parliament building, in 1997, initially stated that â€Å"Overall the capital costs of establishing the Scottish Parliament – purchasing and refitt ing the New Parliament House and other buildings – are estimated to be between ? 24. 5 and ? 34 million. † (White Paper on Scottish Devolution, April 1997. Section 11. 6) This amount remained static until June 1999 when it increased to ? 109 million due to additional uncontrolled construction costs, which escalated again in April 2000 to ? 97 million with the impact of inflation. In 2003, the cost had crept again to ? 359 million and to ? 414. 4million in 2004 resulting in a 20 month delay in schedule In May 2003, after the costs had skyrocketed and the public opinion of the project was very low, Jack McConnell, the First Minister, announced a public inquiry into the handling of the building project. He mentioned how he was â€Å"astonished that year after year the ministers who were in charge were kept so much in the dark over the increases in cost estimates. † (Isobel White; Iqwinder Sidhu, 2005).He also stated that â€Å"a Parliament building of sufficient sc ale could never have been built for less than ? 50m, and was ‘amazed’ that the belief that it could be was perpetuated for so long. † (Isobel White; Iqwinder Sidhu, 2005). Furthermore, â€Å"? 150m of the final cost was wasted as a result of design delays, over-optimistic programming and uncertain authority. † (Isobel White; Iqwinder Sidhu, 2005) According to (Isobel White; Iqwinder Sidhu, 2005), by early 2004, close to its inauguration, the estimated cost of the project was around ? 30 million. This generated great controversy, as one would expect, concerning possible waste of public money. The building was audited, following its completion, after which it was stated that â€Å"the main reasons for construction cost increases after 2000 were design development and delay in the construction process. The design development was entirely related to realising the detail of the building and aspects such as the quality of finish and the palette of materials that were used, in accordance with the client’s requirements. (The Auditor General Report June 2004, paragraph 10) One of the main conclusions found in the Holyrood Inquiry was that â€Å"whenever there was a conflict between quality and cost, quality was preferred. † (The Holyrood Project, p240). The project showcased what lack of proper project management and control will achieve. On the same audit as above, it was stated that â€Å"Although it is likely that a high quality building is being delivered, the time and cost objectives have not been met. The same quality could have been achieved for less if the whole design and construction process had been better executed. (The Auditor General Report June 2004, paragraph 10) The Scottish Office decided to â€Å"procure the construction work under a ‘construction management contract', rather than under a Private Finance Initiative, in order to speed construction, but without properly evaluating the financial risks of doing so, and – in a decision that Fraser stated ‘beggars belief' – without asking Ministers to approve it. † (Isobel White; Iqwinder Sidhu, 2005). This was one of the two most flawed decisions which the report singled out.The other was the insistence on a rigid programme: officials decided that rapid delivery of the new building was to be the priority, but that quality should be maintained. It was therefore inevitable that the cost would suffer. â€Å"In the Holyrood project the general approach was to accept cost increases and include them in the forecasts as the risks materialised. Since there was no agreed planned budget after June 2001, there was little evidence that forceful action was taken to prevent or reduce the increases in cost.Project management could have taken more action at an earlier stage to control expenditure on consultants. † (Audit Scotland, 2004). Before having consultants appointed, management of the project could have explore d alternative fee arrangements more carefully including financial incentives linked to delivering value for money. There was a limit placed on increases in consultants’ fees in 2003, but this was very late in the programme, after the fees had increased significantly. The agreement to the fee capping at this late stage in the project did not provide a timely incentive to onsultants to control costs and programme. Prior to fee capping in July and August 2003, there was no regular reporting of the significant expenditure on the Holyrood project. 4. 2 Time management Time management is also known as project planning and scheduling. Haugan (2002) defines this term as the planed date for performing activities, organized chronologically according to the phases of the project and with start and completion date established. He also states that it is not possible to control costs if the schedule is not met, which was a serious problem in the Holyrood project.According to BBC (2004) the initial estimative of cost and time for the construction of the Scottish Parliament at Edinburgh took place in 1997 with delivery estimate for 2001, even without a project or defined location. However, in 1998 the Holyrood site was chosen to be the actual location and a designer competition was opened based on the criteria of quality, time and cost, after which the Spanish architect Enric Miralles in conjunction with the Scottish company RMJM were chosen to design the parliament. With the delay in such definition, the time factor had become an even greater limitation for the execution of the project.According to White & Sidhu (2005) the president of the Royal Incorporation of Architects in Scotland (RIAS), Mr George Wren, even wrote to the Prime Minister Donald Dewar calling attention to this issue and the consequences of this reduction in availability of design time and in the final product quality, besides the need for faster methods of construction. He also suggested the extensi on of the deadline to complete the building and later, RIAS published a note considering that the process was being quite rushed.Also in 1998, Mr. Armstrong, project manager at this time, established the project schedule, where the construction of the building would start in July 1999 and the initial deadline at autumn 2001 was kept (Lord Fraser, 2004). Lord Fraser, responsible for the inquiry, also commented in his report that it was ironic that factors such as sufficient time for the phases of planning and design were not included in the timeline because of political objectives to meet the deadline.Besides, he also highlighted, in a workshop of risk management conducted by the company Davis, Langdon and Everest (DLE), that the design of the parliament was considered affordable despite of its complexity. Such issues, along the differences between Enric Miralles and the RMJM and the archaeology work at the location were the main causes of delay in progress of the project at its begi nning. Therewith, Mr. Armstrong resigned from his position and a construction management company was hired in his place.White & Sidhu (2005) described that in 1999, after controversies concerning the project and its handover by the former Scottish Office to the Scottish Parliamentary Corporate Body (SPCB), it was decided by the parliament that the current project would continue, increasing costs and maintaining the deadline for autumn 2001. Although at that point it had been suggested to pursue the project more slowly due to time constraints, it was alleged by Donald Dewar that delays of around two months could raise the cost of construction in about ? 2 to ? 3 million yet this deadline remained the same.Thus, the construction started in July 1999 and after this, many design changes were required in that year, which further delayed the progress of the project. In 2000, finally, as Lord Fraser (2004) mentioned, after a lot of reports pointing to the necessity of a new estimate of cos ts and time, an amendment presented by Gordon Jackson MSP was accepted by the parliament and the delivery of the building was rescheduled to the end of 2002. However, other factors slowed the work even more in that year, such as the illness and subsequent death of the architect Enric Miralles and then Donald Dewar.In the end of that year, the Audit Committee published a report, where it was highlighted that the building could only be occupied in April 2003, extrapolating the deadline again. As published in the newspaper Scotsman (2004), the year of 2001 was marked by problems in construction, and security issues delayed the progress, hence the delivery of the parliament in May, 2003 became a priority over costs and the construction was accelerated. However in 2002, the deadline was extended again to September 2003 due to further delays, among the causes were cited bomb proofing measures and even the Inquiry of Lord Fraser.Later on, because of problems in the construction of the inte rior and the most complex parts of the project, the deadline was changed to August 2004. The building was eventually delivered in October 2004, with a time span of three years from the initial deadline. On that note, considering the time management in this project, it is possible to highlight that the main problems were the non-inclusion of enough time to design and plan in the first schedules. This was due to the rush to deliver the building for political reasons and the insistence on keeping the deadline even with the problems faced.The failure to analyse the very high degree of complexity of the chosen design therefore resulted in the project running over schedule. Such factors are mentioned in the Holyrood Inquiry as well. 4. 3 Project management tools Project management tools assist in keeping track of all components of a project, ensuring each stage runs smoothly and is completed on time. As well as the smooth running and time keeping of a project, management tools also help m onitor the projects progress against planned budget. Every project is unique, encompassing all the stakeholders and the internal and external influences.Effective project management should include elements of PESTLE analysis including, Political, economic, sociological, technological and environmental, as a method of identifying potential pitfalls in the process. A SWOT analysis is typically completed in the primary stages of a project. This would be carried out during the planning phase and revisited when any complications arise in a project such as; budget or time management. In turn this would allow the project manager to ensure the project is being completed effectively.A SWOT analysis takes into account the strengths, weaknesses, opportunities and threats. These are then used to control areas of planning and risk management in a project. A SWOT analysis may also be used to highlight particular areas within the project which could be maximised to result in a benefit to either th e project as a whole, or certain areas of the project. A project manager could implement a SWOT analysis to evaluate certain activities within their project to analyse their progress or determine if they could improve such activities to expand their potential.A SWOT analysis may also be used to evaluate any risks in a project or particular areas of a project and therefore define the most appropriate and effective way of controlling and mitigating any risk which may negatively affect the project’s completion (Project Smart, 2013). Henry Laurence Gantt was an American mechanical engineer, recognised for the development of the Gantt chart in 1017. A Gantt chart is a type of bar chart showing the starting and finishing dates of the different stages of a project. They are a method of tracking tasks across time and also show the elationship between the different stages. Haughey, D. (2013) describes Gantt charts as, â€Å"an important project management tool used for showing the ph ases, tasks, milestones and resources needed as part of a project. † Gantt charts have become an industry standard since their first use in the Hoover Dam project of 1931. They can be useful in planning a time frame of a project and help by categorising events and organising them into an order in which they have to be completed. They also work by showing the tasks which are to be completed on the vertical axis, with the time scale on the horizontal axis.Each task then has a bar showing the time required for each task and a percentage of how complete each task is. Critical Path Analysis (CPA) is a project management technique similar to Gantt charts in the way that it lays out the activities needed to complete a task, the time it will take to complete each activity and the relationship between these activities. CPA is a planning and managing tool, its purpose is to help predict whether or not a project can be completed on time. It is a way of managing a project and ensuring the project timing is on track and that things are completed on time.Santiago, J. and Magallon, D. (2009) state that, â€Å"The Critical Method or Critical Path Analysis, is a mathematically based algorithm for scheduling a set of project activities. † And, â€Å"is an important tool for effective project management. † Therefore this would be a necessary tool to use in project management as it allows activities to be planned so that the job can be completed in the shortest time and allows project managers to see if remedial action is necessary to place a project back on course. Another tool used in project management is the Program Evaluation and Review Technique (PERT).Haughey, D. (2013) describes this as, â€Å"a method for analysing the tasks involved in completing a given project, especially the time needed to complete each task and identifying the minimum time needed to complete the total project. † Pert charts are usually used alongside Gantt charts. However, Rouse, M. (2007) argues that, â€Å"The PERT chart is sometimes preferred over the Gantt chart, because it clearly illustrates task dependencies. On the other hand, the PERT chart can be much more difficult to interpret, especially on complex projects.Frequently, project managers use both techniques. † Therefore, by using a wide range of tools such as PERT charts, Critical Path Analysis and Gantt charts a project can be better monitored ensuring that all activities are running smoothly, according to schedule. 5. Stakeholder management Stakeholders are the individuals who are involved in a project and are affected by its activities. Essentially, stakeholders cover everyone: project sponsors, project managers, the project team, support staff, customers, users and even suppliers and opponents to the project.Understanding the needs of each of these stakeholders is vital; each of the stakeholders have different needs and expectations which have to be met. In order to do this, nee ds and expectations must firstly be identified. Exceeding these needs involves balancing competing demands to ensure the smooth running of a project. Stakeholder management is a process by which a positive relationship is created between the stakeholders and project managers of a project, through the appropriate management of expectations and agreed objectives. Kangas, P. 2011) states that: â€Å"Stakeholder management begins by identifying individuals and groups the project affects. To identify a comprehensive list of stakeholders, the project team should evaluate individuals or groups who contribute to or receive value from the project. The team should assess stakeholders for their influence, the extent to which they are affected and their attitudes toward the project. † Therefore it is clear that for a project to run smoothly a good stakeholder relationship is vital. Thompson, R. (2012) refers to stakeholder management as being, â€Å"critical to the success of every proj ect in every organisation. Before the establishment of any project, one of the most important starting points is to have full commitment of all management and stakeholders as these are the people who will benefit from the completed project. If there is not full commitment, this increases the probability of project failure. Lawlor, J. (2010) states that for the completion of an effective project, an organisation must: â€Å"Have a strong sponsor, someone who is sufficiently high up in the organisation to sustain commitment to the project and who will fight for it at senior management level.It is not enough simply to gain management and stakeholder commitment at the start of a project, they must work to sustain it throughout. † This can be achieved by keeping the sponsor firmly in the communication loop and continuously update them on all major developments, successes and all potential issues and risks that may be faced in any upcoming projects. Due to stakeholders including ev eryone involved in the project such as suppliers, sub-contractors and other external resources this introduces further risks.To overcome the majority of these risks, organisations must clearly communicate to the stakeholder exactly what is expected of them. Clear instructions should be set out along with an expected time scale that these activities should be completed by. Lawlor, J. (2010) suggests that to avoid certain risks an organisation should, â€Å"Base agreements with suppliers and other external parties on clearly specified requirements that identify the performance standards expected and the products or systems to be designed, developed, and delivered. Regular meetings with these suppliers and sub-contractors are an essential part to the on-going project, for project managers to ensure stakeholders are performing as expected. When looking at the construction of the Holyrood building, it is clear that problems occurred. A possible reason for this was the vast amount of dif ferent stakeholders who were involved in the construction of the project. Due to the numbers of different contractors and subcontractors, communication and coordination was one of the main issues which added to problems associated with the time issues.Fraser (2004) reported, â€Å"there was a lack of communication, coordination and understanding between stakeholders, for example, resolution of many design issues was delayed due to misunderstanding and lack of communication between RMJM & EMBT. † Therefore, delays occurred in the project from bad stakeholder relationships and poor communication. 6. Conclusion With an unrealistic estimated budget, the Holyrood project was destined to fail from the beginning. Despite this, and the many challenges the team faced, it can be argued that the completion of the building has been a major success.Therefore, it is evident that there are many factors that contribute to the success of a project. Undoubtedly, this depends on how efficiently the given task was managed, measured against time and budget. Failure to meet any pre-determined deadlines or budgets would indicate significant problems in the management and structure of initial plans. Achievement of projects strategic objectives is crucial to its success. This should be supported by a realistic plan that identifies critical success factors.An effective project risk management strategy should be embedded in the project lifecycle and provide a degree of certainty to all stakeholders involved. The effectiveness of this strategy should be regularly monitored alongside the other elements of the project in order to ensure total control. The grounds of project failure have been identified as running over budget, over schedule or lack of engagement with stakeholders to meet desired goal. Unrealistic timescales, poor leadership and poor communication also lead to project failure, which highlights the value that efficient project management has on the running of a project . . Recommendations The following recommendations should be considered by senior management when seeking to improve the effectiveness of project management. * Set realistic objectives, including a clearly defined scope, time and budgetary requirements * Consider the complexity and constraints of the project before implementation * Incorporate appropriate time management, allocating time for disruption * Ensuring effective communication between stakeholders at all times * Make appropriate use of all management tools in the planning and development stage 8. ReferencesAPM. 2013. Association for Project Management: What is risk management [online] Available at: http://www. apm. org. uk/WhatIsPM [Accessed 9 March 2013] Audit Scotland, 2004. Management of the Holyrood building project [pdf] Available at: http://www. audit-scotland. gov. uk/docs/central/2004/nr_040629_holyrood_project. pdf> [Accessed 3 March 2013] BBC News. Timeline. ,2004. Holyrood. news. bbc. co. uk. [online] Available a t : http://news. bbc. co. uk/1/hi/scotland/3210729. stm [Accessed on 10th March 2013] Fraser, R. H. L. , 2004. Construction Management. Available at: http://www. cottish. parliament. uk/vli/holyrood/inquiry/sp205-07. htm [Accessed 13th March 2013] Haugan, Gregory T. , 2002. Project Planning and Scheduling. Vienna: Management Concepts. [online] Available at: http://books. google. co. uk/books? id=evSThe6mUkMC&printsec=frontcover&dq=project+planning&hl=en&sa=X&ei=GMQ_UbbzCsqb0QW-4YDQDQ&sqi=2&ved=0CEkQ6AEwAw [Accessed on 1 March 2013] Haughey, D. , 2013. Project Management Tools [online] Available at: http://www. projectsmart. co. uk/project-management-tools. html . [Accessed 13th March 2013] HSE, 2013.Health and Safety Executive: Five steps to risk assessment [online] Available at: http://www. hse. gov. uk/risk/fivesteps. htm [Accessed 9 March 2013] Isobel White; Iqwinder Sidhu, 2005. Building the Scottish Parliament, The Holyrood Project [pdf] Available at: < http://www. parliament. uk/commons/lib/research/briefings/snpc-03357. pdf> [Accessed 27 February 2013] John J. Lawlor. , 2010. Successful Project Management: Eight Simple Steps to Follow. Available at: http://www. projectsmart. co. uk/successful-project-management-eight-simple-steps-to-follow. html. Accessed 12 March 2013] Lord Fraser. ,2004. Holyrood Inquiry. [online]. Available at: http://www. holyroodinquiry. org/FINAL_report/report. htm [Accessed on 11 March 2013] Philip J. Kangas. , 2011. Back To Basics Stakeholder Management. [online] Available at: http://asq. org/quality-progress/2011/03/back-to-basics/stakeholder-management-101. html [Accessed 13 March 2013] Project Smart. 2013. Swot Analysis in Project Management [online] Available at: http://www. projectsmart. co. uk/swot-analysis-in-project-management. html [Accessed 10 March 2013] Thompson, R. 2012.Stakeholder Management Planning Stakeholder Communication. Available at: http://www. mindtools. com/pages/article/newPPM_08. htm . [Accessed 12 Marc h 2013] Rouse, M . 2007. PERT chart (Program Evaluation Review Technique) Available at: http://searchsoftwarequality. techtarget. com/definition/PERT-chart. [Accessed 13 March 2013] Santiago, J. , Magallon, D. 2009. Critical Path Method. [online] Available at: http://www. stanford. edu/class/cee320/CEE320B/CPM. pdf. [Accessed 13 March 2013] Scotsman. 2004. Holyrood timeline. news. scotsman. com. [online]. Available at: http://www. cotsman. com/news/scottish-news/top-stories/holyrood-timeline-1-464525 [Accessed on 10th March 2013] Well-Stam, D. , Lindenaar, F. , Van Kindere, F. ,2004. Pg3-4 Project Risk Management: An Essential Tool For Managing And Controlling Project. s. White, Isobel and Sidhu, Iqwinder. , 2005. House of Commons Research Paper – Building the Scottish Parliament, The Holyrood Project. House of Commons Library, 2005-01-12. Retrieved 2006-10-29. [online]. Available from: http://www. parliament. uk/commons/lib/research/briefings/snpc-03357. pdf [Accessed on 10 March 2013]

Saturday, January 4, 2020

Human Resource Managers And Od Practitioner - 1486 Words

The role of Human Resource Managers OD Practitioner is rapidly growing. Businesses are growing bigger and Human Resource Managers personals are in high demand, not to only be HR managers but to also take the role of an OD Practitioner. Human Resource Managers must know its their tasks and being able to lead a large group of people in the right direction. These professionals are being forced to take the role of an OD Practitioner and to not forget the role they we’re once in because both roles accompany one another. One stated, â€Å"Practitioners are beginning to deliver differently and to link learning and talent Development to change and organizational development†. HR and OD both are looking to building stronger employees and to lift performance through strong leadership and coaching development skills. This term paper will educate and give its reader knowledge on the roles of Human Resource Managers and OD Practitioner. Question such as, what are the tasks of a Hum an Resource Manager, what are the differences between the two and what benefits will a company gain from training the people in place of Human Resource to become the company’s future Human Resource Managers OD Practitioner, will be answered. My desired learning outcome from this paper is for myself and the reader to gain the unknown information of a Human Resource Manager OD Practitioner and being able to present what was learned and also put it in action. What is Human Resource Management Human Resource is anShow MoreRelatedOrganizational Development Is A Strategic Tool For Employee Performance And Retention, And Methods Of Communication804 Words   |  4 Pageswith the most is organizational development being a strategic tool in Human Resources. According to the Society for Human Resource Management, one of the most effective tools to promote successful change is organization development (OD) (Human Resource, 2011). Key to promoting successful change within an organization, to me, is choosing the correct OD practitioner(s). My company uses both external and internal practitioners to assist in addressing any problems, improvements and changes that weRead MoreHexadecimal Company1125 Words   |  5 Pagescame rapid growth and systemic problems within the company. The President, John, Zoltan, decided to created an Organizational Development (OD) group to help address change and managerial style within the company. However, this OD group was not accepted well within the organization and many felt as though this group was a waste of time, energy and resources. Employees did not want to participate in the training although forced to attend. In the beginning of the group’s development, the membersRead MoreAnnotated Bibliography1705 Words   |  7 Pagesindividuals are said to resist change because of habit and inertia, fear of the unknown, absence of the skills they will need after the change, and fear of losing power. OD approaches to organizational change presents a solid consensus that change and resistance can and should be managed by developing a strategy for change and using the OD tool kit of interventions such as training and communication programs, confrontation meetings, stakeholder participation, team building, organizational diagnosis andRead MoreA Little History On The U.s. Department Of Veterans Affairs And The Veterans Health Administration981 Words   |  4 Pagesthe Department of Veterans Affairs, Human Resource department is vitally important to bringing into all facets of the organization quality personnel in order to accomplish such a complex mission. During a recent interview that conducte d with one of VA Human Resource Professional, the following questions were posed to her: 1. I wanted to know in an effort to effectively do the job what were the top three-five successes/areas of influence of HRD/OD practitioners? -- The old world of HRD was more ofRead MoreA Portfolio Paper On Employee Relation2362 Words   |  10 Pagesenterprise’s performance and suggested talking to an external practitioner. The foreign specialist is someone not formerly linked with the client’s system (Brown, 2011). For example, a foreign practitioner is not familiar with the company and have to acquire knowledge through a learning process of the enterprise. External professionals are not familiar with the corporate culture, norms, and jargons which create a challenge. For example, since the OD process creates change in the organization and this changeRead MoreThe Organizational Development Process : Ceo And Management Team1922 Words   |  8 Pageshis competitive edge. In addressing the OD process, the CEO and management team has decided that the organization will be utilizing the five-stage model of the total organizational development process. The steps are implemented in a sequence of one another incre asing the probability of a successful change (Brown, 2011). The first stage is anticipating a need for a change. The CEO and the management team after a long meeting have decided that there is a need for a change. The team was establishedRead MoreThe Four Frames Models Model1376 Words   |  6 Pagesrelevant and useful to practitioners as well as scholars?’ They focus on leadership in organisations, ensuring that a balance between spirit and purpose, and control and hierarchy is established and maintained by applying the model. Figure 1 – Visual representation of The Four Frames Model Structural Frame – Focuses on the architecture and design of the organization. Involving goals, structure, technology, roles and relationships, and the coordination of all of them. Human Resources Frame – Emphasis’sRead MoreInternal or External Change Leaders1619 Words   |  7 Pagesand their authority and credibility derive from different sources. The author addresses the special challenges of working with large consulting firms, the requirements for productive partnering between external and internal, and offer advice to managers for maximising the success of consulting projects. Summary What is Organisational Development Before analysing the issue of choosing internal or external change agents, we need to understand the reason for hiring one. Firstly we need toRead MoreInternational Organization Development Organizational Development Thinking and Practices for Global Businesses Settings2663 Words   |  11 PagesGlobalization has forced an environment of tight resources and new challenges in which dynamic companies are exploring and creating new capabilities and opportunities overseas. Large international organizations are increasingly turning to organizational development practices to solve problems of inefficiency. However, they often face challenges when operating in the international context, especially when difficulties arise when companies combining international business, organization developmentRead MoreCase: Wengart Aircraft 1205 Words   |  5 PagesPresidential Executive Order 12552 applying TQM to all federal executive agencies, the Department of Defense is encouraging all defense contractors to adopt TQM.† Total Quality Management and the OD Practitioner Larsen, in an effort to learn more about TQM, hired an OD practitioner to explain it. The practitioner made several points at a two-hour meeting with Larsen: †¢ Customer, engineering, production, and product support functions are integrated into a team. †¢ The customer is the next person in

Friday, December 27, 2019

Olaudah Equiano, A British Slave, And Frederick Douglass...

The autobiographies of Olaudah Equiano, a British slave, and Frederick Douglass and Harriet Jacobs, American slaves, highlight the transition from the institution of British slavery pre-American Revolution to the 18th and 19th century American plantation slavery. The explicit differences between the two systems suggest unique factors that either promoted or hindered each institution. In Britain, slavery was generally driven by economic factors that relied on trained labor. Growth and expansion of slavery in the United States, however, was deeply rooted in consistent oppression and exploitation of slaves through physical and psychological abuses, which in turn gave slave owners unchecked power that ensured the perpetuation of plantation slavery. The placement of slaves throughout different regions of the world shaped individual experiences, allowing for the growth of varied slave institutions. The life of Olaudah Equiano, a slave sent primarily to Britain and its colonies, in contrast with the lives of American slaves, defines this clear difference. While enslaved, Equiano was taught how to read and write, and was baptized as a Christian. These events marked the bridging of the wide gap between African slaves and their European slave owners, as slaves in Britain participated in aspects of society traditionally associated with Europeans. Equiano’s â€Å"apprehensions and alarms...among the Europeans† began to decrease, as he was continually being integrated into society and wasShow MoreRelatedThe Classic Slave Narratives: Harriet Jacobs, Frederick Douglass and Olaudah Equiano1985 Words   |  8 PagesThe book The Classic Slave Narratives is a collection of narratives that includes the historical enslavement ex periences in the lives of the former slaves Harriet Jacobs, Frederick Douglass, and Olaudah Equiano. They all find ways to advocate for themselves to protect them from some of the horrors of slavery, such as sexual abuse, verbal abuse, imprisonment, beatings, torturing, killings and the nonexistence of civil rights as Americans or rights as human beings. Also, their keen wit and intelligenceRead MoreThe Humiliating Nature of Enslavement, Sexual Savage Exploitation, and Degradation in Autobiographical Narratives of Frederick Douglass and Harriet Ann Jacobs2068 Words   |  9 Pages sexual savage exploitation, and degradation in autobiographical narratives of Frederick Douglass and Harriet Ann Jacobs In the age of Romanticism, slavery and the slave trade provoked sharp criticism and controversy and played a very significant role in shaping public opinion and causing moral opposition to injustice and tyranny. Since Columbus’s journey opened the doors of the Atlantic passage to African Slave Trade, slavery became man’s greatest inhumanity to man â€Å"converting† the victimsRead MoreThe Emergence Of The United States As An Independent Country, And African American Literature Essay1769 Words   |  8 PagesAfrican -American history predated the emergence of the United States as an independent country, and African – American literature was similarly in deep roots. Jupiter Hammon who was considered as the first published Black writer in America. In 1761, he published his first poem named â€Å"An Evening Thought: Salvation by Christ with Penitential Cries†. Through his poem, he implemented the idea of a gradual emancipation as a way to end slavery . His idea was later reprinted in some works such as â€Å"Le Mulatre†Read MoreBibliographic Essay on African American History6221 Words   |  25 PagesBibliographic Essay on African American History Introduction In the essay â€Å"On the Evolution of Scholarship in Afro- American History† the eminent historian John Hope Franklin declared â€Å"Every generation has the opportunity to write its own history, and indeed it is obliged to do so.†1 The social and political revolutions of 1960s have made fulfilling such a responsibility less daunting than ever. Invaluable references, including Darlene Clark Hine, ed. Black Women inRead MoreThe History of American Literature3501 Words   |  15 PagesThe history of American Literature starts well before this land was even called America. It has been a great evolution to come from tribal symbols and drawings to todays Stephen King and Danielle Steele. Literature has gone through many phases and was impacted by great events and ideas in American history. The earliest form of literature in what would one day be known as America were far from what modern day people would consider Literature. The Natives who inhabited this land first had unwritten

Thursday, December 19, 2019

The Six Functions Of Rhetoric - 1482 Words

It has been said that there is no clear definition of rhetoric. Throughout the years there have been many disputes over the meaning of this type of communication however, two specifics can be agreed on; rhetoric contains six distinguishing characteristics and six ultimate functions. The six distinguishing characteristics of rhetoric include that it is planned, adapted to an audience, reveals human motives, is responsive, seeks persuasion, and addresses contingent issues. The six functions of rhetoric include the theories that rhetoric test ideas, assists advocacy, distributes power, discovers facts, shapes knowledge, and builds communities. Due to its content, organization, and goal, Lincoln’s work falls into the category of rhetoric. On the other hand, because of the work’s intent, vocabulary, and emotion, Dickinson’s work is best described as a poem. Incidentally, Dickinson’s poem also contains multiple characteristics and functions of rhetoric. From the data collected and interpreted, we may categorize Lincoln’s â€Å"Second Inaugural Address† as a rhetorical speech and Dickinson’s â€Å"Success Is Counted Sweetest† as a poem containing rhetorical characteristics. Lincoln’s speech announces to announce to his people, the Union, the Civil War, was unavoidable. In his first few paragraphs, the President claims that he has no new knowledge of the war to present to the people that they do not already know. Lincoln goes on to explain how despite the Union’s progress in the war, thereShow MoreRelatedRhetorical Analysis Of Abraham Lincoln s Second Inaugural Address1234 Words   |  5 PagesCounted Sweetest Rhetoric is often denoted to as the art of persuasion. A set of linguistic traits and semantics used to evoke emotional responses from its intended audience, opening the floor for unanticipated influence by said audience. It would be an atrocity to ignore the efforts behind this simple yet powerful manipulation. This is referred to as rhetorical discourse. Essentially, there are six characteristics of rhetorical discourse, these characteristics being; rhetoric is planned, adaptedRead Moreâ€Å"The Home Of The Chinese Race Is In Asia, And A Great Future1380 Words   |  6 PagesWolcott Brooks, while meeting with the Canadian Royal Commission on Chinese immigration in 1884, Brooks advocated for cooperation between the united states and Canada in preventing Chinese immigration to not only America, but all North America. His rhetoric reflects the deeply institutionalized anti-Chinese racism in the United States. Anti-Chinese racism, throughout the mid-nineteenth century, emerged as a major political issue as the Chinese immigrant population rose in the western United States andRead MoreSimilarities And Differences Between Six Sigma, Lean, And Kaizen1373 Words   |  6 PagesThe Similarities and Differences of Six Sigma, Lean, and Kaizen Six Sigma, Lean, and Kaizen are all strategies that hold their roots in business for the positive improvement of functions for particular entities. These strategies are unique in their global applicability and specific processes and yet similar with regard to the manner in which they are structured. They can be applied to improve processes for anything from large scale manufacturing to something as simple as gardening. The purpose ofRead MoreThe Homeland Security Act Of 20021562 Words   |  7 Pageshis state of the union address, on January 29, 2002, â€Å"Our first priority must always be the security of our nation† (American Rhetoric Online Speech Bank, 2002, para. 28). In addition, Bush stated later in his speech, â€Å"America is no longer protected by vast oceans. We are protected from attack only by vigorous action abroad and increased vigilance at home† (American Rhetoric Online Speech Bank, 2002, para. 32) to which the homeland security act of 2002 was born. The Homeland Security Act of 2002Read MoreFor many people or even societies, the usage of two or more languages in a single conversation is1100 Words   |  5 Pagesinstruction at college levels. For the study, about four hundred and six teachers were selected. The study’s main purpose was to answer the following questions: How do teachers decide which CS practices are more permissible and which are less permissable? What are the reasons for which the English language teachers code-switch in bilingual classroom? And How English language teachers determine the significance of different functions of CS in the EFL classrooms? The research questionnaire used in thisRead MoreAnalysis Of The Article The Fox News Network 1327 Words   |  6 Pagesthe views of the Army, it is imperative to ask the question: is the military obligated to be politically correct? Why should West Point be held to higher standards? The Army is a professional, impartial, and bipartisan faction of government; the rhetoric they disseminate should not ostracize anyone who identifies with traditional American values. Conversely, even organizations deserve a degree of free speech. This is where it is important to draw a distinction between free and destructive speechRead MoreThe Function and Importance of Letters in Jane Austens Pride and Prejudice1272 Words   |  5 PagesThe Function and Importance of Letters in Jane Austens Pride and Prejudice Introduction In her classic novel, Pride and Prejudice, Jane Austen describes the tribulations of Elizabeth Bennett, one of five sisters, as she struggles to navigate the social mores and values of early 19th century England. During this period in history, correspondence was almost entirely through written letters but the postal system in London made deliveries a dozen times a day, meaning that it was possible to writeRead MoreWhat Does America Represent?1412 Words   |  6 Pagesonly was the practice wrong but it was also ineffective (pg. 1). America stood against such practices and shunned countries who practiced these techniques. However after the war, America’s stance on torture changed. Jervis (2015) reported that just six days after 9/11, Bush had the CIA detain terrorist suspects around the world to be interrogated with â€Å"enhanced interrogation techniques† (pg. 3). So what are these â€Å"enhanced interrogation techniques† and why are they widely debated? According to JervisRead MoreEssay Outline on Music1308 Words   |  6 PagesEssay Outline I. II. People do not choose to be influenced by music, as music is scientifically influential to the human brain. Olteteanu, Ion. The formative function of musical interactions within social identity. Geopolitics, History, and International Relations 3.1 (2011): 215+. Academic OneFile. Web. 17 Jan. 2013. We turn to music, we need it, because of its ability to move us, to induce feelings and moods, states of mind. â€Å"Bures notes that the human brain is uniquely configuredRead MorePOG Premium Oil and Gas1739 Words   |  7 Pagesthe marketing, supply and transportation of these products. The company earns revenues of around  £100 billion per annum based on its daily production of two million barrels of crude oil and eight billion cubic feet of natural gas, plus daily sales of six million barrels of refined products. Over 90 per cent of POG’s executives are Dutch nationals, of whom five per cent are women. This concentration can be explained by the company’s Dutch origins and its consequent patterns of recruitment. Recently

Wednesday, December 11, 2019

International Portfolio Diversification Benefit-Myassignmenthelp

Question: Discuss about the International Portfolio Diversification Benefits. Answer: Introduction: It is evident from the theory of portfolio that domestic invested assets portfolio are generally most favourable. If for instance household in France makes investment only in equity of French, the investor will have subordinate return to the ratio of risk in comparison to the worldwide asset investment (Gaudecker Von (2015). Since it is accurate in common, for each sort of investors, nations and assets an improved, diversification must enhance the investments performance of the investors. The integration of Capital market and diversification is associated in numerous methods. Under a completely incorporated capital market, all the trading risk factors are at the indistinguishable price. This represents that if the capital markets of Europe were entirely integrated than the cycle of business or the risk of inflation would result in identical price in all the capital markets of Europe (Yang et al., 2014). Therefore, integration of capital market represents where the law of one price is entirely applicable to each and every trading assets. Characteristics of International Stock and Bond Portfolios: Large volume of diversified stock and bond portfolio must therefore alter the boundary of the proficient portfolios upward and for every given risk, the standard return of the portfolio must increase. Hence, more integrated capital market must result in bigger segment of overseas stock and bond in the portfolio with the outcome of enhanced diversified investments (Brire et al., 2015). Formally, integrating the capital markets has additional fundamental connotation with liberated access to overseas monetary markets. Nonetheless only, a little portion of the total assets of domestic households is endowed in the marketable assets in the form of equities and bonds. There is a widely evident propensity to make investment in a big place in the domestic state. One portion of the private households is that a large portion of preference from institutional investors in making investment in equities and bonds that is subjugated in the own currency. An additional likely reason of home based occu rrence is the information asymmetry. Generally, investors possess improved information with subordinate information on cost for household assets. According to the viewpoint of personal households, the cost of supplementary business may be very high for making the overseas investment beneficial. The Evolution of Diversification: Investors diversify with the objective of mitigating the effect of fluctuations of market on the return on portfolio. Over the period, this results in the production of smooth in general experience of investment primarily assists in striking a equilibrium between expansion and safety. The concept of diversification provides suggestion that this can be attained by sustaining the mixture of investment through numerous industries, districts and class of assets (Alexeev et al., 2016). The theory adopted by the investors to attain diversification has transformed over the years this is largely due to the globalization and innovation of product. In context of the present day, being efficiently diversified has paved new connotation with innovating degree of significance is provided globally to integrate economies of scale and close association across capital markets. The main contribution to worldwide financial expansion continues to discover and progressively more such kinds of alterations are reflected in the build up of the international capital markets. It is significant that the construction of portfolio also develop to reproduce such changes (Najeeb et al., 2015). Diversification in the modern context represents having a disclosure to openings in rapidly expanding markets with investment in both small and big companies. Globalization of capital markets: Open trade between countries with increase in overseas savings and ever more international surroundings have established better associations between nations, especially in the urbanized market. Economically modernised now make it easier for the investors to gain better admission to the international capital markets but also have better association in the hazard posed across different regions. The statistics suggest that the correlation between international economies has posed new threats in attaining efficient diversification (Bodie et al., 2014). There are market that are very greatly correlated tends to act in response to the alterations in the trade cycle by approaching in the identical track with same degree. The conflicting statement is true for the capital markets that are not correlated or correlated inversely. The principles of combining the investments together that are not correlated or in reverse correlated is precisely the method that determines the concept of diversific ation. A positive correlation is witnessed at the time of international financial crisis when the international equity market fell down sharply after the breakdown of Lehman Brothers bankruptcy on September. For several investors, the financial crisis was in the form of wakeup call with simple diversification across the diversified urbanized areas that no more provided identical reimbursement of risk alleviation which it had in earlier period (Cressy et al., 2014). One of the strong reasons for market cap diversification is higher correlation, which means that this kind of method will not offer the identical degree of downside defence, which it may have in the past. This is reason why adding wider contact to numerous geographic areas has turned into highly important. The rise of emerging markets: The formation of financial activity across the world has transformed. Approximately 50% of the international manufacture arrived from the US and Europe in comparison to the about 35% at present (Meric et al., 2016). The share of production from nations that developing in the Asian regions has increased to more than double over the similar period from 10% to nearly 25% presently. Perhaps the growing markets currently make up more than 80% of international inhabitants and it is worlds rapidly growing economies. Since globalization has resulted in the collapse of the international GDP, innovating technologies have redesigned the face for opportunities of making investment. Companies that are established in the industries are accepting change and rapidly growing innovative capital investment is taking place outside of the places where investors are using for making investment (Zorn et al., 2014). For instance, even though US is leading in the world in regard to the international expenditure on research and development but the expenditure of Asian countries has been increasingly growing from the last decade to the stages from where China has presumed second place across the world at the forefront of Japan. Emerging Markets: The Fresh Economic Powerhouse: Stimulated by a physically powerful aspiration for economic growth several rising markets have gradually more opened their doors towards overseas investment. Several nations are still experiencing the growth following the development of trade relationships with the rest of the world. They are involved in the procedure of setting free the economic drive with highly motivated workforce (Guidi Ugur, 2014). Emerging countries that are involved in the economic expansion play an important in attaining international growth for investors and portfolio. The degree of worldwide GDP derived from the emerging markets has continued to grow significantly since the mid 1960. It is regarded as the trend that is anticipated to experience growth in the coming decades. In contrast to this, developed nations have continued to experience decline in the global GDP. Ever since 1987, the contribution of Americas to overall international GDP levels has dropped from over 30% to less than 27% (Driessen Laeven, 2017). Due to such kind of progress, economic enhancements in rising markets have resulted in rapid growth and stronger returns from equities. A portfolio that is efficiently diversified provides the individual investors to tap in the probable growth of these markets moving forward. Multiple layers of equity investment: Individual investors possess additional options and choices than before. Consideering the range of class of assets and geographic regions, diversification of portfolios can be improved by seeking the big and small organizations across diverse sections and with very precise features (Bouslama Ouda, 2014). Investors currently have better access to the far more strong set of openings and this increasingly plays a vital role in future regarding portfolio performance. Diversification by market capitalization: The smaller cap securities is regarded as highly volatile than the larger cap peers since low amount of correlation demonstrate an obvious advantage to include under a diversified portfolio. This is particularly because over the time bigger and smaller cap stocks have performed in a different manner. Companies that small tend to perform better in the initial stages of the economic recovery with large amount of caps resulting to mature economic cycle (Arouri et al., 2014). This was particularly the case with larger cap stocks have recently started to perform more in accordance with the smaller and medium cap names. Market analyst has covered an additional reason behind where companies that are smaller provided more exclusive openings for investment. Around more than 10,000 companies have traded on large number of major US exchanges (Tangjitprom et al., 2017). Because of this, several small companies that provide better outstanding opportunities for investment are not regularly observed. Making investments cautiously made in the smaller companies can offer the opportunity to purchase higher quality business at subordinate multiple than a person would have to purchase equities from a company that is well-known for identical superiority. Diversifying by sector: Investor can depend into one another for more significant level of diversification by making an investment in companies that function in diverse industry. This is particularly significant for shareholders in Singapore. Singapore can distinguish itself as the international leader in numerous sectors, including financials, energy and resources. Nevertheless, this kind of sectors present more than 75% of the market. In comparison to this, the US and the global markets have more even-handed mixture of sector that is incorporated in a wide variety of industries. It is noteworthy to denote that diversification is not based on building portfolio (Kocaarslan et al., 2017). It is all about maintaining it over the period of time. Because of the market movements, one of the benefits of diversification is that portfolio holders will be able to develop at a different rates and as a consequences of this, the weighting of all class of asset will go with the flow. Such kind of drift will eventually alter the portfolio composition and may perhaps result in performance experience, which is very diverse from what the investors were anticipating. Benefits of diversification: According to Yu et al., (2017), it is understood that attractions of making investing globally is depended on the effects of diversification, contributing in the expansion of international markets and irregular returns because of the segmentations of marketplace. The truth that cross border returns from the markets does not progress accurately in the similar method every times since it will result in diversification gains. The opportunities of participating in a rapidly growing economies of rising markets and as a result achieving astounding values in few years it can be regarded as the benefits of global investments. Hence, being stable about the political risks forms the most important benefits of capital markets in countries that are industrialized. Constant rebalancing forms the ingredient of well-organized method of investing that keeps portfolio on path. If left intact, a mixture of asset drift might result in exposure towards unforeseen risk of missed openings. Rebalancing also assists the investors to purchase on low price and selling at a higher price which over the time can help in reducing the volatility and would assist in improving returns by aiding investors in attaining their long term objectives (Kocaarslan et al., 2017). Developing monetary markets, innovative sources of international monetary growth and advancement in technology have all illustrated the reason why investors is required to constantly review the procedure involved in diversifying the portfolios. The method of diversification has changed considerably in the last two decades with the introduction of new styles of securities and investment styles coming into play. In addition to this, investors have the options of diversifying between the regions, sectors, class of assets, styles of equity and fixed profits of issuers. By considering all the equity products and approaches in the account diversification adds a number of difficulty to the portfolio administration procedure however diversification significantly payoff in reducing risk and mitigating the level of volatility, ultimately leading to advanced investor experience. Conclusion: The international investments help in increasing return with given risk and helps in lowering the risk within a given rate of return. This generally occurs due to the more profitable investment avenues prevailing in an enlarged universe. The empirical findings from the research provides a comparison between the investment and the foreign mixed investment revealing that a steady increase in overseas portfolio amplifies the returns from investment. Reference List: Alexeev, V., Dungey, M., Yao, W. (2016). Continuous and jump betas: implications for portfolio diversification.Econometrics,4(2), 27. Arouri, M., Nguyen, D. K., Pukthuanthong, K. (2014). Diversification benefits and strategic portfolio allocation across asset classes: The case of the US markets.Unpublished working paper, IPAG Business School. Bodie, Z., Kane, A., Marcus, A. J. (2014).Investments, 10e. McGraw-Hill Education. Bouslama, O., Ouda, O. B. (2014). International portfolio diversification benefits: The relevance of emerging markets.International Journal of Economics and Finance,6(3), 200. Brire, M., Oosterlinck, K., Szafarz, A. (2015). Virtual currency, tangible return: Portfolio diversification with bitcoin.Journal of Asset Management,16(6), 365-373. Cressy, R., Malipiero, A., Munari, F. (2014). Does VC fund diversification pay off? An empirical investigation of the effects of VC portfolio diversification on fund performance.International Entrepreneurship and Management Journal,10(1), 139-163. Driessen, J., Laeven, L. (2017). International portfolio diversification benefits: Cross-country evidence from a local perspective.Journal of Banking Finance,31(6), 1693-1712. GAUDECKER, H., VON, M. (2015). How does household portfolio diversification vary with financial literacy and financial advice?.The Journal of Finance,70(2), 489-507. Guidi, F., Ugur, M. (2014). An analysis of South-Eastern European stock markets: Evidence on cointegration and portfolio diversification benefits.Journal of International Financial Markets, Institutions and Money,30, 119-136. Kocaarslan, B., Sari, R., Soytas, U. (2017). Are There Any Diversification Benefits Among Global Finance Center Candidates in Eurasia?.Emerging Markets Finance and Trade,53(2), 357-374. Meric, G., Taga, L., Kim, J., Meric, I. (2016). Co-Movements of Latin American Equity Markets with the World's Other Equity Markets: Global Portfolio Diversification Implications.Journal of Accounting and Finance,16(4), 126. Najeeb, S. F., Bacha, O., Masih, M. (2015). Does heterogeneity in investment horizons affect portfolio diversification? Some insights using M-GARCH-DCC and wavelet correlation analysis.Emerging Markets Finance and Trade,51(1), 188-208. Tangjitprom, N., Chavalittumrong, P., Leelalai, V. (2017). Does Real Estate Fund in Thailand Provide Diversification Benefits for Stock Investment?.AU Journal of Management,14(2). Yang, Y., Narayanan, V. K., De Carolis, D. M. (2014). The relationship between portfolio diversification and firm value: The evidence from corporate venture capital activity.Strategic Management Journal,35(13), 1993-2011. Yu, J. R., Chiou, W. J. P., Yang, J. H. (2017). Diversification benefits of risk portfolio models: a case of Taiwans stock market.Review of Quantitative Finance and Accounting,48(2), 467-502. Zorn, D., Dobbin, F., Dierkes, J., Kwok, M. S. (2014). Managing investors: How financial markets reshaped the American firm

Tuesday, December 3, 2019

Vegetarian (Health, Ethics And Environmetnal Effec Essay Example For Students

Vegetarian (Health, Ethics And Environmetnal Effec Essay ts) Must We Kill To Live? Today youve arrived here with questions. After you read this maybe youll have the answers? If not go to Http://www.geocities.com/rainforest/andes/4004 Whether youre already a vegetarian or if youre only curious about vegetarians I hope you find this informative and maybe influential. Ihope to open your minds enough that youll agree that we dont have to kill to live. We will write a custom essay on Vegetarian (Health, Ethics And Environmetnal Effec specifically for you for only $16.38 $13.9/page Order now I hope to expose you to a lifestyle that doesnt promote violence or death. These are all the reasons you should need to convertyour lifestyle. Ive been a practicing vegetarian for 2 years. A vegetarian is defined as someone who avoids all animal flesh, including fish and poultry. Vegetarians can be sub categorized: Those who avoid flesh but still indulge in animal products such ascheese, milk and eggs are referred to as ovo-lacto-vegetarians. People who reject all animal products are referred to as purevegetarians or vegans. Scientific research shows that ovo-lacto-vegetarians are healthier than meat eaters and vegans arehealthier than both. Now Im going to present you with four reasons everyone should be a vegetarian. First the obvious ethical reasons, second the physiological reasons, third the health reasons and finally the most important reasons for our planet, the environmental impact of a meat based diet. First the ethical reasons to become a vegetarian. The ethical reasons were the first to occur to me when I began considering becoming a vegetarian. Why should any creature lose its life to fill my stomach? Unfortunately most people dont associate the meat on their plate as having had life at one time. In some countries people eat meat of monkeys, dogs. cats, and even other people which is disgusting to us. But its OK for us to kill cows, chickens, or fish cause they are different? At 20 weeks of age, 85 million pigs die for Americans to eat. Another 24 million die due to abuse before they reach slaughter age. Cows normally have a 25 year life span, but most only live to be 3-5 years old before dying to become hamburgers. More than 1 million calves a year are raised for veal. They spend a miserably short life of 16-18 weeks in a crate thats not big enough for them to even stand or move in. Not given any water or solid food, only deficient milk replacers, so they will stay white and tender. Since only female chickens lay eggs over 280 million male chicks are thrown into plastic bags and piled on each other to die. Something to ponder, when you eat out, whats really in that meat? Besides a dead animal? The FDA says certain percentages of unknowns are acceptable. Like cockroach parts, rat feces, and other unknowns. There are over 660,000 animals killed every hour for meat. The average American consumes 200 pounds of meat a year. Hindus believe that eating an animal ingests its fears and misery from the time of its death. Ethically animals live and breath, as we do, they feel pain and know fear. If by not eating meat I spare the torture of another living creature, how small a sacrifice is that? If the ethical reasons werent convincing read on to the physiological reasons. Physiology refers to the way were built, our anatomy. The differences between animals who were created to be predators (carnivores) and humans are distinct. Carnivores have long teeth and claws for holding and killing prey, humans have short teeth and no claws. The jaws of carnivores open in an up and down motion and shred, a humans jaw moves sideways for grinding and chewing as well as up and down. Humans are more similar to monkeys than carnivores like lions. There are many more differences that are too technical for me. Well, weve covered ethical and physiological reasons, now lets move on to health. Vegetarians enjoy excellent health consistent with dietary guidelines and meet the recommended daily allowances for nutrients. .uf5d4fab23c2c455ae7da9067f8fa914d , .uf5d4fab23c2c455ae7da9067f8fa914d .postImageUrl , .uf5d4fab23c2c455ae7da9067f8fa914d .centered-text-area { min-height: 80px; position: relative; } .uf5d4fab23c2c455ae7da9067f8fa914d , .uf5d4fab23c2c455ae7da9067f8fa914d:hover , .uf5d4fab23c2c455ae7da9067f8fa914d:visited , .uf5d4fab23c2c455ae7da9067f8fa914d:active { border:0!important; } .uf5d4fab23c2c455ae7da9067f8fa914d .clearfix:after { content: ""; display: table; clear: both; } .uf5d4fab23c2c455ae7da9067f8fa914d { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uf5d4fab23c2c455ae7da9067f8fa914d:active , .uf5d4fab23c2c455ae7da9067f8fa914d:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uf5d4fab23c2c455ae7da9067f8fa914d .centered-text-area { width: 100%; position: relative ; } .uf5d4fab23c2c455ae7da9067f8fa914d .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uf5d4fab23c2c455ae7da9067f8fa914d .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uf5d4fab23c2c455ae7da9067f8fa914d .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uf5d4fab23c2c455ae7da9067f8fa914d:hover .ctaButton { background-color: #34495E!important; } .uf5d4fab23c2c455ae7da9067f8fa914d .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uf5d4fab23c2c455ae7da9067f8fa914d .uf5d4fab23c2c455ae7da9067f8fa914d-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uf5d4fab23c2c455ae7da9067f8fa914d:after { content: ""; display: block; clear: both; } READ: Our Declining Education System Essay The PCRM also lists a host of health benefits of a vegetarian diet including, prevention of cancer, heart disease, lowering blood pressure, preventing and reversing diabetes, preventing and alleviating gallstones and kidney stones as well as aiding osteoporosis and asthma. 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