Project Risk Management Paper 1 Essay Example | Topics and Well Written Essays - 1250 words

Project Risk Management Paper 1 - Essay Example It is important to clarify here that risks can be both positive and negative. Therefore, we can also define risk management as the act of reducing negative risks while trying to maximize positive risks. The process of risk management involves determining the outcome of the risk and using it to refine the objectives of the project, determining loose ends, and thus, improve the effectiveness and efficiency of the overall project. We can define the process project risk management into several steps, however, organizations usually combine the steps according to ease of use and utility. One of the main objectives of project risk management is to identify the risks with the highest consequences and possibility of occurrence and then develop possible action plans in case any of risk actually occurs (). Progressive elaboration, which improves the management’s ability to handle details well also encompasses risk definition as part of its process. Organizations depict different behavior s when it comes to handling risk. Firms that are aggressive and are in a sustainable leading position in their industry would take up projects that are very risky. Similarly, in such firms project managers with creative, innovative ideas are welcome in spite of the project being risky. On the other hand, risk averse organization who are mostly followers in their industry would hesitate from taking on risky project and project managers who take on risk and are aggressive in their management approaches would not be welcome here (What is a project, pg14). The initiating, planning, execution, monitoring and controlling, and closing process groups consists of sub-processes that are used throughout the project lifecycle. These are the knowledge areas (Creating the project charter, pg 44). The monitoring and controlling and execution process groups are very high on the risk probability of occurrence whereas the other process groups have low probability (What is a project, pg 29). The nine knowledge areas of PMBOK have been divided in such a way that each one involves some amount of integration of the other. Project risk management is core to any project and this is why, it begins with the development of project charter. The project charter is a formal document that authorizes the project to begin working and commit the resources. The project charter involves project statement of work, business case, contract, enterprise environmental factors, and organizational process assets. Each aspect of the project charters involves some form of risk assessment such as under the enterprise environmental factors, a project manager has to assess the risk tolerance of the stakeholders meaning the level of risk, the stakeholders of the project and the firm are willing to take for the execution of the project. (Creating the project charter, pg 68). Process of Risk Management We can also define risk as the product of expected consequences of an event or loss and the likelihood of occu rrence. Risk could be characterized into two categories: Macro-risk and Micro-risk. Macro-risk is consideration of risk for a large population of events, where as micro-risk deals with risks on an event-by-event basis. Both forms of risk managements are used depending on the situation (Why project risk Management?, pg 2). Macro-risk Management – In the insurance and finance industries, risk is calculated using statistical tools: data collection, sampling, and data analysis.

The role of the IMF in helping poor and debt-troubled countries Research Paper

The role of the IMF in helping poor and debt-troubled countries - Research Paper Example The IMF is tasked with the role of assisting nations suffice their budgets or invest in areas that positively influence the social welfare or the economy of a country. Most of the support activities that IMF undertakes are backed by global policies. An example is the IMF helps less developed nation to improve health care, education and security which is in line with the United Nations Millennium Development goals. Another reason why the IMF helps poor nation is to stabilize nations in economic and social terms. A debt ridden country has a high probability of social disorder, thus more economic failures (Ghosh, Zalduendo, Thomas, Ramakrishnan, Kim &Joshi 2008). Globalization has ensured that all nations are interlinked economically, thus, failure of an economy to meet its obligations can impact on the global economy, which might lead to a crisis. Despite the fact that the IMF is tasked to issue loans to member countries, there are several conditions that must be met as part of eligibility criteria. First, a country is supposed to design a program that is supposed to address the problem that has made it resort to the IMF for assistance (IMF Factsheet). Before the IMF considers a loan, country must identify the causes of the deficit and the strategies that are in place to mitigate the situation. In deficits situations, the IMF holds that countries should engage in activities that try to resolve the deficit since it affects other economies of the world. Second, the International Monetary Fund should be allowed to assess the programs that are under its support. This is meant to ensure that funds are channeled to the intended functions. Moreover, the process also ensures that the intended benefits are realized. The assessment programs are mostly conducted in less developed nations due to inefficiencies, misappropriation and also embezzlement of funds by few individuals. The institution employs structural benchmarks that are meant to protect IMF interests in the

The Paris Peace Conference Research Paper Essay Example for Free

The Paris Peace Conference Research Paper Essay The Paris Peace Conference is only one of many conferences throughout the world. This conference was led by not only by just a United States President, but by my blood lines. President Woodrow Wilson is my great, great, great grandfather. He had chosen to lead the delegation of the Peace Conference with Paris after World War I. Woodrow Wilson was also the first President to visit Europe in their term as president of the United States of America. This Paris Peace Conference had been known as another name, the Treaty of Versailles. This Treaty (Paris Peace Conference) was basically written to finish off, and declare the ending of World War I. This was held not just within Paris, but many countries had been involved, such as Germany, Russia, France, Great Britain, Italy, and the United States. These countries were all given the task of following the treaty to end this â€Å"war of all wars†. Although many people in having the basic knowledge of this Treaty, do not realize that this entire war ending Conference takes an entire Process. This process consists of Economists, Geographers, Ethicists, Military Experts, and of course the Ambassadors. Each person or group of people had their own set of tasks to accomplish during this Conference. The Economists were in charge of all the costs, and payments that may be due. Then the Geographers helped to determine boundaries over each country; this was to be placed in the Treaty. Next the Ethicists, to basically figure out how this war was even started in the first place; then the military experts were in charge of the power given to most people; this included the restrictions and certain regulations. Then the last groups of people are the Ambassadors, they usually hold the speeches and speak their own countries testimonies. This Paris Peace Conference was not just a sudden agreement either; there was an agreement leading up to the Peace Conference. This was called the Armistice. This was an agreement signed on November eleventh in 1918. This agreed to everyone holding a Peace conference discussing Post-war world. The Paris Peace Conference was held on the 12th of January in 1919. The ending of this Conference was dated to the 20th of January in 1920. There were countries that had their disagreements towards this Treaty, for example Great Britain wanted power over the Seas, but they were not the only ones, also they wanted control over Germany.

How Important For Companies Today To Be Ethical Management Essay

How Important For Companies Today To Be Ethical Management Essay The beginning of the 21rst century started with big scandals that raised some issues on corporate social responsibility and on ethics policies inside companies. This essay says about the how important is it companies to be seen as ethicals today? Yes because it will cause to a win-win situation for everybody concerned. If a company having and maintaining ethical standards will guarantee consumers and workers that they could belief the company. Meanwhile, Companies could be rest guaranteed that, with the belief of their stakeholders, their business will continue to develop. Companies dont have to be legally but they can do morally Public interest in business has never been higher than it has is currently. In considering the past thirty years of business ethics experiences, two conclusions may be drawn. attention in business ethics has heightened during each past forty decades. Interest in business ethics and corporate social responsibility seems to have been spurred by major headline grabbing scandals.( Sims 2003) This essay traces the basic ideas of ethics and applied ethics fuscous on company ethics theoretical view, and the important of ethical behaviours, and steps for developing an effective code of ethics, business ethics in global economy And some more further informations are contains in this essay. Definition of Ethics The theory has come to mean various things to various people, but generally in the context of organizations coming to know what it right or wrong in the workplace and doing whats right this is in observe to effects of products/services and in relationships with stakeholders such as employees, customers, suppliers, and local/national community. In times of fundamental change, values that were previously taken for granted are now strongly questioned. For example, life long employment is considered one of the best policies of organizations. However in the changed competitive situations we find that downsizing, delivering, outsourcing production systems raise questions about the fundamental premise of previously laid down good practices. Consequently, there is no clear moral compass to guide leaders through complex problems about what is right or wrong. Attention to ethics in the workplace sensitizes leaders and staff to how they should act. Perhaps most important, attention to ethics i n the workplaces helps ensure that when leaders and managers are struggling in times of crises and confusion, they retain a strong moral compass.(web 1) What is business ethics? Business ethics focuses on what is right and wrong behaviour in the business word. It has to do with how businesses apply moral and ethical principles to situations that arise in the work place. Because business decision makers must often address more complex ethical issues in the work place than they face in their personal lives, business ethics is more complicated than personal ethics. (Roger 2009) Why business ethics is necessary During the early part of the 2000s, the United kingdom public was shocked as one business ethics scandal after another became headline news. Business ethics is necessary for companies, business ethical is vital not because it is fashionable though business can ill afford to ignore anything, however silly, which seriously influences the market in which it operates, rather business ethics is necessary because ethical choices are unavoidable. The business ethics challenge is to make that predictable ethical decision making explicit so as to make it better. Far from being anti business, business ethics actually provides essential support for maximising long term owner value (MALACHOWSKI A 1997) Ethical behaviour report in UK. According To IBE research in UK Sixty percent of people dont trust business leaders to tell the truth. The public wants business to behave more fairly, ethically, and increasingly, a commitment to ethical practice is a standard for stakeholders. Having a code of ethics is a powerful tool, but only if it is rooted in the core values of the business. According to MORI research in 2009 theyfound that 80% of the public believe that large companies have a moral responsibility to societybut 61% also thought large companies dont really care Reflecting this, companies following a code of ethics were found, over five years, to have outperformed those who did not, according to  IBE research in April 2003. 90% of FTSE 100 have a code- but only 43% of FTSE 250 businesses do While 90% of FTSE 100 companies have a code of ethics or business conducts, only 43% of those in the FTSE 250 have codes. Quality varies from excellent to poor and having a code is no assurance that it will be followed. To be effective a code needs to be set in into a company.(web 2) Why should a company Be Ethical? There is already something odd about this question. It is like asking, Why are bachelors unmarried? They are unmarried by definition. If they were married, they would not be bachelors. It is the same with ethics. To say that one should do something is another way of saying it is ethical. If it is not ethical, then one should not do it. (web2) An organization has to be ethical in its behaviour because it has to exist in the competitive world. We can find a number of reasons for being ethical in behaviour. Few of them given below: most people want to be ethical in their business dealings. Values give management credibility with its employees. Only perceived moral righteousness and social concern brings employment respect. Values help better decision making. There are some reasons why business should seen as ethically To protect its own interest To protect the interest of the business community as a whole so that the public will have trust it To keep its commitment to society to act ethically To meet stakeholders expectations To prevent harm to the general public To build trust with key stakeholder groups To protect there own reputations To protect their own employees and create an environment in which workers can act in ways consistent their values Besides, if a corporation reneges in its agreements and expected others to keep theirs, What are the benefits form managing ethics? Several advantages accrue to an enterprise if it is managed ethically. They are following Attention to business ethics has substantially improved society: establishment of anti trust laws, unions, and other regulatory bodies has contributed to the development of society. There was a time when discriminations and abuse of employees were high, the fight equality and fairness in workplace ended up in establishing certain low which benefited the society Ethical practice has contributed towards high productivity and strong team work: Organization being collection of individuals, the values reflected will be different from that of the organization. Constant check and dialogue will ensure that the value of the employee matches the values of the organisation. This will in turn result in better cooperation and increased productivity. Changing situations requires ethical education: during unstable times, when confusion becomes the order of the day. One must have clear ethical guidelines to take right decisions. Ethical training will be of great help in those situations. Such training will enable managers manning corporations to anticipate situations and equip themselves face them directly. Ethical practices create strong public image: organizations with strong ethical practices will possess a strong image along with the public. This image would lead to strong and continued loyalty of employees, consumers and general public. Conscious implementation of ethics in organizations becomes the cornerstone for the success and image of the organization. It is because of this ethical perception that the employees of TESCO and the general public protested in 1977 when the minister for industries attempted to nationalized the company in India. Strong ethical practices act as an insurance: if a company have strong ethical practices of the organization are an added advantage for the future function of the business. In the long run, it would benefit if the organization is equipped to withstand the competition (Fernando 2009) Steps for a company wishing to develop its own corporate ethics programme 1) Find a champion The Chief executive officer is organized to drive the introduction of a business ethics policy, the chances of it being a useful tool are not high. 2) Get support from the Chairman and the Board Corporate values and ethics are matters of control. The board must be enthusiastic not only about having such a policy but also about receiving regular reports on its operation. 3) Find out what bothers people basically supporting a standard code or copying that of another will not suffice. It is important to find out on what topics employees require guidance. 4) Pick a well-tested model Use a agenda which addresses issues as they affect different constituents or shareholders of the company such ad shareholders, employees, customers, suppliers, and local/national community 5) Produce a company code of conduct This should be distributed in booklet form, company internet, annual report. Guidance on how the code works should also be included. 6) Try it out first The code needs piloting perhaps with a sample of employees drawn from all levels and different locations. An external party such as the Institute of Business Ethics will comment on drafts. 7) Issue the code and make it known Publish and send the code to all employees, suppliers and others. State publicly that the company has a code and carrying out programme that covers the whole company. Put it on your Web Site and send it to joint-venture and other partners. 8) Make it work Practical examples of the code in action should be introduced into all company internal (and external) training programmes as well as induction courses. Managers should sign off on the code regularly and a review mechanism should be established. A code master needs to be appointed.(web 3) Conclusion In this essay illustrates How important is it for companies today to be seen as ethical, in this competitive business world ethical behaviours are very important, because consumers education level and the ethical behaviour point of thoughts are high these days, and the media such as news papers, radios , television channels and the social networks(face book) all are highlight and focus companies un ethical behaviours. How ever now days people also like to deal with ethical companies. Consumers social and environmental view highly increased in the recent years, so companies should be seen like as ethical today.

Bush and Hitler - Parallel Lives :: Politics Political

Bush and Hitler - Parallel Lives The 70th anniversary wasn't noticed in the United States, and was barely reported in the corporate media. But the Germans remembered well that fateful day seventy years ago - February 27, 1933. They commemorated the anniversary by joining in demonstrations for peace that mobilized citizens all across the world. It started when the government, in the midst of a worldwide economic crisis, received reports of an imminent terrorist attack. A foreign ideologue had launched feeble attacks on a few famous buildings, but the media largely ignored his relatively small efforts. The intelligence services knew, however, that the odds were he would eventually succeed. (Historians are still arguing whether or not rogue elements in the intelligence service helped the terrorist; the most recent research implies they did not.) But the warnings of investigators were ignored at the highest levels, in part because the government was distracted; the man who claimed to be the nation's leader had not been elected by a majority vote and the majority of citizens claimed he had no right to the powers he coveted. He was a simpleton, some said, a cartoon character of a man who saw things in black-and-white terms and didn't have the intellect to understand the subtleties of running a nation in a complex and internationalist world. His coarse use of language - reflecting his political roots in a southernmost state - and his simplistic and often-inflammatory nationalistic rhetoric offended the aristocrats, foreign leaders, and the well-educated elite in the government and media. And, as a young man, he'd joined a secret society with an occult-sounding name and bizarre initiation rituals that involved skulls and human bones. Nonetheless, he knew the terrorist was going to strike (although he didn't know where or when), and he had already considered his response. When an aide brought him word that the nation's most prestigious building was ablaze, he verified it was the terrorist who had struck and then rushed to the scene and called a press conference. "You are now witnessing the beginning of a great epoch in history," he proclaimed, standing in front of the burned-out building, surrounded by national media. "This fire," he said, his voice trembling with emotion, "is the beginning." He used the occasion - "a sign from God," he called it - to declare an all-out war on terrorism and its ideological sponsors, a people, he said, who traced their origins to the Middle East and found motivation for their evil deeds in their religion.

A Comparative Analysis of “Cry Freedom” and “Island in the Sun” Essay

Racism and racial segregation are forms of discrimination based traditionally on unmerited economic, social and political orders. These principles transform and re-invent and continue to manifest themselves in modern societies causing severe mental scars and perpetuating deep inequality and poverty. Colonialism in the British Caribbean illustrated by the film â€Å"Island in the Sun† which is chronologically first, and Post Colonialism in Africa illustrated by â€Å"Cry Freedom† have similarities and stark differences. Both films are used to portray society’s social-political issues. From the marginalization of black people socially, politically and economically to the notable use of laws that exploit, ostracize and impede the advancement of blacks while dividing them in the process. The films are set apart by their notable differences, in â€Å"Cry Freedom†, apartheid laws which were developed after the 20th century were codified which set legal barriers of white domination and racial separation. Racial discrimination was systemized and banned marriages between blacks and whites, and sanctioned certain jobs for whites only. â€Å"Island in the Sun†, on the other hand attempts to trade unionize the workforce to help blacks to become empowered because up to that point blacks could not work in certain areas. While both films reflect different time periods they simultaneously reflect the clutch of colonial mindsets on mental realities within The Bahamas. In â€Å"Island in the Sun† we see the Caribbean in the 1950s, historically during this time there was ‘de jure’ racial segregation between the two diverse groups – blacks and whites. What black people could and could not do was very present in this film. Here we see the character David Boyhe a mixed-ra... ...uld result in a movement whose final triumph would be majority rule and the dismantling of the system of apartheid that inhibited Bahamian blacks socially, politically and economically (Martin and Storr 21). Works Cited Barlas, Robert. The Bahamas. TarryTown: marshall cavendish Benchmark, 2000. Bethel, Nicolette. "Engendering the Bahamas." College of The Bahamas Research Journal XIII (2003). â€Å"Cry Freedom†. Dir. Richard Attenborough. Perf. Denzel Washington. 1987. Martin, Nona. "I’se a Man. Political Awakening and the 1942 Riot in the Bahamas." Journal of Caribbean History, 41 (1&2) (2008): 3. McCartney, Donald M. Bahamian Culture and Factors Which Impact Upon It. Pittsburg: Dorrance Publishing Co, inc, 2004. Wolpe, Harold. "‘Capitalism and cheap labour-power in South Africa: From segregation to apartheid'." Economy and Society 1(4) (1972): 425-456.

Thomas Hardy’s poem “Hap Essay -- Thomas Hardy Hap Poetry Poem Analys

Thomas Hardy’s poem â€Å"Hap" Poetry is ultimately defined as a major literary genre. How boring that is for such a beautiful literary form. I believe that poetry is a genre devoted to art, complexity, and precision. All in which the poet does more than just writing; he or she takes that which is indescribable and finds words for it through poetry. Granted, this leaves poetry vastly open to interpretation. After all, each and every poet expresses him or herself in a different way; with different meter, rhyme, mood, and meaning. Leaving one poem practically unlike any other, like a snowflake. This is poetry, and this is also why poetry is so hard to analyze. Every person that has read and analyzed a poem has been left wondering what the author of the poem had intended by it. Often there is room for more than one interpretation, so many are often left wondering if they correctly interpreted a poem. Several arguments could be left unfinished with the phrase, â€Å"Well, how do you know? Did the author of the poem tell you? In which the answer is, with rare exceptions, no. Authors leave clues in, in between, and all throughout their poems. That’s part of the art. They don’t just tell the readers what the poem means. That would take away from it. Instead, the reader must keep in mind that everything is in a poem for a reason. The author may not come out and say what a poem is about, but he or she will leave enough information in the poem for someone dedicated enough to find. I intend to devote such a dedication to Thomas Hardy’s poem â€Å"Hap,† in order to analyze, and hopefully, understand this poem through a p rocess. Perhaps the first and most obvious step would be to read the poem. Just read it. As in: begin reading and don’t stop, fee... ...becomes a piece of literature that a reader can appreciate. These, also, are by no means the only steps a reader could take to understand a poem. There’s always more time that can be devoted to understanding a poem. There is also a multitude of research on poetry that a reader could use in order to better understand it, just as I would have been lost without a dictionary. Sometimes there is more inside knowledge that a reader would have never known unless they looked it up. Still, it depends on the reader, and the poem they are reading as to whether or not they’ll go beyond their own understanding in search of others’. Understanding poetry is a difficult task, but that does not mean it cannot be done. Depending on how much time and effort a reader is willing to devote to a poem will affect how well they will understand it, in addition to how much they will enjoy it.