Project management 2 Essay Example | Topics and Well Written Essays - 3750 words

Project management 2 - Essay Example The house stands on a 3000 square feet plot. Approximately 1500 square feet area will be used for building space. The house will have two storeys and an elaborate garage capable of housing two huge SUV's. It will be surrounded by a huge garden with fountains and fences. The project is named Lovely Palace and is indicated by the name LP throughout the process. Memphis construction is a huge company handling several such projects. They work on several housing projects at a time and there are specific teams to take care of each process in the project. The researcher is the team leader for the project LP. 6 teams work under him to complete the assigned tasks on time. A detailed Gantt chart is drawn assigning various tasks and sub tasks to these teams and 3 team leaders are supposed to report to the project leader at specific time intervals. Gantt chart There are several tools designed to help planning a project in a step by step manner. Many advanced tools help in scheduling the project hour wise. The minimum or maximum time necessary to complete the project can be calculated using them. The planning and scheduling process is simplified beyond belief in the modern days through such tools. Gantt chart is one such tool used to represent the progress of a project in a graphical way. It is similar to a bar chart, but gives a much detailed view of the project with exact time schedules. It can be created using Microsoft Excel or Microsoft Project. The main advantage of using Gantt chart is its capability to break the project into tasks and subtasks. This paves way for better management of the project. Colours used in the Gantt Charts In the attached Gantt chart all the tasks are represented through a black bar and the sub tasks are represented through a blue bar. The time frame for each task, sub task and which team the task is assigned is mentioned in the chart clearly. One look at the graphical Gantt chart will help us determine the progress of the project time wise an d budget wise. The time for parallel processes, the minor delays in the projects as well as the total budget can be determined easily using this Gantt chart. Memphis Construction has skilled employees working in the consulting and planning department capable of creating a multifaceted Gantt chart which is easily amendable. They create it after detailed discussion with various team leaders and present the final draft to the LP project head. Each member involved in the project has a copy of their assigned tasks and its time frame. They are requested to stick strictly to the schedule and report to their respective team leaders regarding the progress or delay in the work at the end of each day. Project development Stages Stage 1: Finalizing the plan Memphis Construction Company assigns the project to the project head in this case the researcher, once a customer approaches the company for a plan. The work starts from the day the customer agrees to work with them. The engineers and design ers in the company draw a plan based on the customer’s specification. The initial consultation for the customer is free. Once the architect team presents the plan, the customer can fix any number of sittings with them and get it modified according to their necessity. Each sitting costs around $90 per

Liquidation Assessment through Strategic Financial Statement Analysis Essay

Liquidation Assessment through Strategic Financial Statement Analysis - Essay Example The present research has identified that the year 2009 witnessed liquidation of 19,077 companies as per the figures of the insolvency service representing an increase of 23% from the year 2008. and out of 19,077, 6,335 companies have been declared insolvent. According to Adam, the figures are 13,434 as voluntary liquidations and 5,643 are compulsory liquidations totaling 19,077 as per the above report. Again in the UK, Red Flag Alert says that more than 140,000 were showing signs of financial distress in q4 2009. The figure is 6 % higher than Q3 2009 but 14 % lesser than the identical period in 2008. The corporate failures seem to unstoppable despite fiscal support by the Government, VAT reductions by 2.5% and the HRMC’s payment support for  £ 4.2 bn covering 242,000 ‘time-to-pay arrangements’. The U.S.based Circuit City, second largest retailer of electronics next to Best Buy went into liquidation of its last retained store after series of one liquidation after another in early 2009 rendering their final tally of 30,000 of employees jobless. One commentator has said that it was a well deserved as a poorly managed company. Needless to say, a recession has been responsible for this state of affairs. Recessions are considered a process of the plumbing of economics that removes the inefficient entities and paves way for reallocation of capital and labor to the most deserving entities. The faster the reallocation, the safer the investments. The three ways in which insolvency is dealt with are the liquidation, rescue, and workout. Liquidation is the process administered by the court for sale of the assets of the insolvent firm in piecemeal. A rescue is again a court intervention for rehabilitation, reorganization or restructuring of the insolvent firm with the objective of preventing its liquidation. A workout is an informal process where a court has no role and the creditors either reschedule their debts or allow settlement of debts at a disco unt.