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krok68 [10]
3 years ago
13

Using a combination approach of your own words and research to define a project. What are five characteristics which help differ

entiate projects from other functions carried out in the daily operations of the organization? Why are these not the same? How are projects linked to the strategic plan? Provide an example (choose from your own experience or outside research).
Business
1 answer:
Oliga [24]3 years ago
4 0

Answer:

See the explanation.

Explanation:

Using a combination approach of your own words and research, define a project.  

A project is a distinctive and oftentimes complex undertaking that is usually attempted once. Projects serve the purpose of creating a new or different product, service, or end result. Unlike day-to-day functions, projects have varying restricts behind them. These restrictions can be comprised of budgets, a timeframe in which to complete the project, as well as both human and financial capital. Projects often differ greatly from the day-to-day operations of a business and serve varying purposes(Overgaard, 2010).  

What are five characteristics which help differentiate projects from other functions carried out in the daily operations of the organization? Why are these not the same?

There are five characteristics that are exclusive to projects wherein the function differs from that of normal business operation(de Guimarães, Severo & Vieira, 2017). First, projects involve the inclusion of people of varying specialties. Second, projects have a set goal, or a well-defined purpose/objective. Projects also have a set lifespan or timeframe. Projects have their very own project lifecycle. Last, projects have restrictions relating to cost, time, and capital. The evaluation also occurs using these final three parameters. These characteristics differ from normal operations of the business because they are generally done/attempted once, whereas day-to-day business is often a monotonous routine by comparison.  

How are projects linked to the strategic plan? Provide an example (choose from your own experience or outside research).

The final goal of a project is how it can be linked to a business’ strategic plan. In essence, projects are derived from the need to support a business’ strategic plan(Hall, 2012). For example, if a business wanted to grow, they would look into purchasing additional plots of land or hiring more employees to cope with demand. The project of purchasing the land and hiring the employees aligns with the overall strategic plan to grow and expand as a business (Tedesco, 2011).  

One example from personal experience is that of the ICD-10 implementation in US healthcare back in 2015. For two or three years, Congress delayed the implementation of ICD-10 because doctors were worried that patient care may slip as a result. For my company, since the change was mandated to become law on 1 October 2015, a project within the organization was put forth to make sure all providers were acclimated to the new diagnostic code set("Dropping the ball", 2015). This aligned with the company’s goal of making healthcare and healthcare claims that much easier for providers and billers to complete. Day-to-day operations mainly consisted of working out rejections and fixing varying software issues. While these differed, the project did not stray from the company’s main goals.

Hope this helps!

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The marginal rate of transformation of x for y represents:__________
slamgirl [31]

Answer:

D) All of the above.

Explanation:

The marginal rate of transformation is the rate at which the consumer must give up y to get an additional unit of x. it is also referred to as the the slope of the budget constraint.

It can also be expressed mathematically as: Px/Py.

The answer is (D) All of the above.

7 0
2 years ago
Which of the following is NOT true about business incubators?
Alisiya [41]

Answer:

Some business incubators are started by developing countries.

Explanation:

A business incubator is a company that provides management training or office space services towards assistance to the development of new and startup companies. According to NBIA, business incubators tend to work as a catalyst tool for economic development either at regional or national level.

Developing countries refer to countries having an industrial base that is less developed along with HDI relativity with other nations.

 

7 0
3 years ago
Fiscal Policy
cricket20 [7]

Based on the economic data given, and the fact that the government is running a deficit, the equilibrium GDP will be 336.67.

If government spending is cut to balance the budget, the new level of GDP will be 321.67.

The effect of balancing the budget will be a decrease in GDP and a slower recovery from the recesssion.

<h3>What is the equilibrium GDP?</h3>

This is given by the variable "Y" so we can find the equilibrium GDP by solving for it:
C = 50 + .7(Y – T)

Y = C + I + G - XN

C = Y - I - G + XN

Solving gives:

Y - I - G + XN =  50 + .7(Y – T)

Y - 40 - 35 + 10 = 50 + 0.7Y - 14

Y - 0.7Y = 50 + 40 + 35 - 10 - 14

0.3Y = 101

Y = 101/0.3

= 336.67

<h3>What is the new GDP if government spending is cut?</h3>

Government spending will have to be cut to a size that would make it equal to taxes so government spending becomes 20.

New GDP becomes:

= C + I + G - XN

= ( 50 + .7(Y – T)) + 40 + 20 - 10

= 271.67 + 40 + 20 - 10

= 321.67

Find out more on GDP at brainly.com/question/1384502.

8 0
2 years ago
The hedge ratio of a call option is
natima [27]

Answer:

A positive constant

Explanation:

the hedge ratio cimparez the amount of a position that is hedged to the entire position

7 0
2 years ago
A private university offers graduate assistantships to qualified students each year. In exchange for the waiver oftuition, gradu
alina1380 [7]

Answer:

A. tuition revenues of $4,000 and expenditures of $4,000.

Explanation:

If the student is not employed as a graduate assistant required to assist faculty members with research and other activities, we will have one:

a. The student will have to pay $4,000 tuition. This is a revenue to the university.

b. The private university will employ a research assistant and pay him $4,000. This an expenditure to the university.

Therefore, this transactions have to be required as highlighted in a. and b. above to track the actual revenue and expenditure implication of the waiver despite cash does not exchange hands.

7 0
3 years ago
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