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Serggg [28]
3 years ago
12

Express one particular cost issue that you have seen as a project manager or team member that affected the project either positi

vely or negatively. Clearly identify what was done to rectify the issue and describe the impact to the project.
Business
1 answer:
Liula [17]3 years ago
4 0

Answer:

one particular cost issue that I noticed as a team manger is the inability to keep our budget in line due to additional costs that kept coming up intermittently. This cost issue almost cost us the entire project.

Explanation:

At the execution phase of the project I was managing, additional costs that needed immediate attention drove us to emergency mode at a point with a huge budget overrun that pushed us to the brink of project shutdown.

To rectify the issue, I called for  a meeting with my team and the following steps were taken

  1. we extended the time for the completion of the project.
  2. Requested for the services of a professional accountant to prepare a comprehensive budget that will give cater for emergencies.
  3. We developed good processes and habits will help significantly reduce the likelihood that your project budget will turn into a catastrophe such as weekly reviews.
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A factory currently manufactures and sells 800 boats per year. Each boat costs $5,000 to produce. $4,000 of the per-boat costs a
spayn [35]

Answer:

B

Explanation:

Variable costs are incurred only when a boat is manufactured such as material and direct labor. Thus variable costs will remain unchanged since it will costs the exact same amount to manufacture another identical boat. If it costs $4,000 in material and direct labor to manufacture boat A it will cost $4,000 to manufacture boat B. Fixed costs are sunk costs that will be incurred whether they manufacture 800 or 1,000 boats per year. The rent and admin costs will remain unchanged no matter how many boats are manufactured. But the fixed cost per boat will change. The total fixed costs are $80,000 (800 boats x $1,000 per boat fixed cost). If the manufacturing rate is increased to 1,000 boats per year, the per boat fixed cost will decrease to $800. Fixed costs remain at $80,000/1,000 boats = $800.

4 0
3 years ago
How to plan for a turbulent environment surrounding the current pandemic​
kompoz [17]

Explanation:

The long-running debate between the ‘rational design’ and ‘emergent process’ schools of strategy formation has involved caricatures of firms' strategic planning processes, but little empirical evidence of whether and how companies plan. Despite the presumption that environmental turbulence renders conventional strategic planning all but impossible, the evidence from the corporate sector suggests that reports of the demise of strategic planning are greatly exaggerated. The goal of this paper is to fill this empirical gap by describing the characteristics of the strategic planning systems of multinational, multibusiness companies faced with volatile, unpredictable business environments. In-depth case studies of the planning systems of eight of the world's largest oil companies identified fundamental changes in the nature and role of strategic planning since the end of the 1970s. The findings point to a possible reconciliation of ‘design’ and ‘process’ approaches to strategy formulation. The study pointed to a process of planned emergence in which strategic planning systems provided a mechanism for coordinating decentralized strategy formulation within a structure of demanding performance targets and clear corporate guidelines. The study shows that these planning systems fostered adaptation and responsiveness, but showed limited innovation and analytical sophistication

4 0
3 years ago
Granite Company purchased a machine costing $128,000, terms 3/10, n/30. The machine was shipped FOB shipping point and freight c
Alborosie

Answer:

machine enter the accounting at <em> 138,210 dollars</em>

Explanation:

cost: 128,000 x ( 1 - 3%) = 124,610

shipping cost:                      2,800

installation cost:              <u>   10,800   </u>

total incurred cost

to leave the machine

ready for use:             <em>    138,210</em>

<em />

<em>The damge are expenses for the period as they arent a necessary cost to utilize the machine.</em>

<em>The company used the discount price over the list price as this is the atual cost incurred</em>

8 0
3 years ago
Imagine that you are serving as the general manager of a hotel. What three aspects do you think would be most important to the s
Strike441 [17]

Answer:

1. Create and give innovative experience.

2. Brand and reputation operation

3. Improvement in workers general welfare

Explanation:

As a manager in an hotel, I would Improve the facets of the hotel by

1. Create and give innovative experience. As a manager, I would ensure the hotel create and delivers top notch service considering there are competition in the hospitality industry.

2. Brand and reputation operation. When customers receives a world class experience, reputation is being created here. I would then sustain this reputation by making it a brand upon which the hotel will be identified with subsequently.

3. Improvement in workers general welfare. This is very critical to the success of the hotel. Once workers are well paid , it would spur them to work and align with the vision I have for the hotel.

8 0
3 years ago
Hurry! #2
andreyandreev [35.5K]

Answer:

lobbyist

Explanation:

i did research! ;)

3 0
3 years ago
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