Project Managment Essay Example | Topics and Well Written Essays - 2000 words

Project Managment - Essay Example I will be discussing some salient points relative thereto project management and will also discuss how these key points will contribute to the enhancement and achievement of targeted company goals. The matter will be answered in accordance to the lessons learned from the module of this course which provided us learners the opportunity to work, plan, and manage a project using standard theoretical precepts. Some project management tools and techniques will also be used to introduce a technique in resolving organizational issues and concerns with sensitivity to available budget allocation and dynamics of the organization. In this questionnaire, I am expected to also use the tools for negotiations, teambuilding and quantitative estimation that can be drawn from the lesson using the case presented as my springboard for analysis. 2.0. Introduction Project management refers to the strategic capacity of an organization to put direction and implement programs and projects in accordance to sp ecific goals and objectives set by the company with a purposive end in mind (Lock, 2007). The outcome could either be about gaining profit, about organizational strengthening, attaining performance efficiency or developing a collaborative action with potential partners, venture-interest, or with possible business associates (Dinsmore, & Brewin, 2011). 3.0. Discussion 3.1. Case study Johnsons is a major player in the UK dry cleaning industry. Management has decided to move operations to a new site. The new site will allow Johnsons to expand its operational base by 50% and bid for new public sector contracts. Currently at its site, Johnsons has a capacity to deal with 20,000 kg of laundry. However, management prefers to work at 80% of its capacity. At a recent board meeting, the HR manager has been asked to explain the reason for poor workforce planning and lack of discipline which has reduced the working capacity to 60%. The above information can be used to define various terms. 3.2. Designed Capacity This is the average allowable level of capability, fitness and power of competence in the performance of services. In the case cited, the Johnson Company has a capacity to deal with 20,000 kg of laundry but considering some variables in the organization, e.g. human resource availability, laundry machines, spaces, and resource operational availability. 3.3. Effective Capacity This refers to an organizational design and value chain analysis pertaining to effective capacity management (Capacitas, 2013, p. 1). Often this correlates to the nature of organizational structure, model or framework of operation, the available resources with services, repository of service, information and system of reporting, scope of managerial function, and the training or educational capacity of the company’s human resources (Capacitas, 2013, p. 1). From the cited case, what is clear here is that from its designed capacity, the management agreed that it can only effectively delive r and perform 80% services. From the allowable percentile of work production, the company can only perform or produce services at a rate of 16,000 kg of laundry. It is further unclear, given the many variables, if these 16,000kg constitute the daily laundry operation of the company or in a weekly status or in a month. The case given have not expressly cited the time and days that such 60,000 kg average laundry service is attained. It’s also unclear about the technology that will be used for laundry operation and neither is the case clear

IAS 18 Assignment Example | Topics and Well Written Essays - 2000 words - 1

IAS 18 - Assignment Example According to IAS 18, revenue is simply the gross inflow of financial benefits (receivables, cash, and other assets) emanating from the normal operating activities of a business (like sales of services, sales of goods, royalties, dividends and interest) (Elliott & Elliott 2013 ). Accordingly, an exchange for services or goods of a comparable value and nature is not considered as a transaction that yields revenue. Though, exchanges for dissimilar goods and services are considered as revenue generation. Question Two IAS 18 outlines the underpinning principles for the recognition criteria for Revenue in three different parts. Identify each of the three parts and discuss the recognition criteria for each part. Basing on the above statement, there is a dissimilar approach taken to the realization or recognition of revenue particularly from the services that have been provided ( Holt, Tweedie, & Richard 2013). In short, instead of realizing the revenue at one point such as the sale of goods, it should be realized gradually. According to IAS 18, in order to estimate the outcome of a transaction reliably the following conditions are met: IAS 18 indicates the need to measure revenue at the fair value of the consideration received (Greuning 2001). However, in the case where the consideration or payment is deferred, the arrangement will constitute the substance of the transaction and a financing transaction. In such situations, the amount receivable is classified into: The key challenges associated with the implementing of IAS 18 Revenue is that its principles for revenue recognition are quite broad. In addition, under IAS 18, there is clarity on how to recognize revenue. Professional bodies have introduced the principle of IFRS 15 ( Bragg 2011). With this principle, a business recognizes revenue to show the transfer of services or goods to clients. In addition, it reflects the payment to