DSW is a company, and the question asks about its total assets. Total assets refer to the combined value of all the assets owned by a company, including both tangible and intangible assets.
These assets provide an indication of the company's financial health and its ability to generate future income. To determine DSW's total assets, it is necessary to refer to the company's financial statements or other reliable sources that disclose this information.
To obtain DSW's total assets, it is best to refer to the company's financial statements, such as its balance sheet. The balance sheet provides a snapshot of the company's financial position at a specific point in time and includes information about its assets, liabilities, and shareholders' equity.
The total assets of DSW represent the sum of all its assets, which may include cash and cash equivalents, accounts receivable, inventory, property and equipment, investments, intangible assets (such as patents or trademarks), and any other assets owned by the company.
These assets are reported at their respective carrying values, which may be adjusted for factors like depreciation, amortization, or impairment.
To obtain the most accurate and up-to-date information about DSW's total assets, it is recommended to refer to the company's latest financial statements, annual reports, or disclosures filed with regulatory authorities.
These sources will provide the detailed breakdown of DSW's assets and the corresponding values, allowing for a comprehensive understanding of the company's financial position.
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Study the scenario described below and answer all questions that follow.
Firms achieve their missions in three conceptual ways: (1) differentiation, (2) costs leadership, and (3) response.
In this regard, operations managers are called on to deliver goods and services that are (1) better, or at least different, (2) cheaper, and (3) more responsive.
Operations managers translate these strategic concepts into tangible tasks to be accomplished. Any one or combination of the three strategy options can generate a system that has a unique advantage over competitors (Heizer, Render and Munson, 2017:74).
P&B Inc., a medium-sized manufacturing family-owned firm operates in a market characterised by quick delivery and reliability of scheduling as well as frequent dramatic changes in design innovation and customer demand.
QUESTION 1 [20 MARKS]
As the operations analysts at P&B Inc., discuss how you would prioritise for implementation the following FOUR (4) critical and strategic decision areas of operations management as part of P&B's 'input-transformation-output' process to achieve competitive advantage:
1. Goods and service design
2. Human resources and job design
3.Inventory, and
4.Scheduling
In addition to the above, your discussion should include an introduction in which the strategy option implicated by the market requirements is comprehensively described.
The company can take several steps to implement the strategy, such as developing a new product, improving the existing product, or enhancing the quality of customer service provided. The ultimate goal is to ensure that the company stays ahead of its competitors and meets the needs of its customers.
As an operations analyst at P&B Inc, to prioritize the critical and strategic decision areas of operations management as part of P&B's 'input-transformation-output' process to achieve competitive advantage, we will first examine the following areas:
1. Capacity Planning: Capacity planning is the process of determining the production capacity required by an organization to meet changing demand for its products.
2. Quality Management: Quality management is the process of ensuring that a company's products or services meet or exceed customer expectations.
3. Inventory Management: Inventory management is the process of ordering, storing, and using a company's inventory.
4. Supply Chain Management: Supply chain management is the process of managing the flow of goods and services from raw materials to the end customer. As for the strategy option implicated by the market requirements, the business can prioritize the strategy that will address the current market demands.
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Which of the following would be considered unemployed, according to official statistics?
A. A person working for the family business after school without pay.
B. Someone who has lost her job in the last week.
C. A part-time worker.
D. Someone who has been unemployed for 2 years and has stopped looking for work.
E. All of the above
Official statistics classify the following situations as being unemployed: B. A person who has recently lost her employment. Although they are currently unemployed, this person is actively looking for job.
D. A person who has given up looking for work after two years of being without a job. Despite the fact that they have been out of work for a while, they are no longer looking for work. As a result, E. All of the above is the right response. According to official statistics, these scenarios qualify as unemployment because they involve people who are out of work and actively looking for job or who have given up looking for work after a protracted term of unemployment.
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mcdonald's, subway, and jiffy lube are all examples of ________.
McDonald's, Subway, and Jiffy Lube are all examples of franchise businesses. The answer is "franchise businesses."
Franchising is a business model in which a franchisor grants the rights to operate a business using its brand, products, and business system to a franchisee. The franchisee pays a fee or royalty to the franchisor in exchange for the right to operate under the established brand and benefit from the franchisor's support, training, and marketing efforts.
In the case of McDonald's, Subway, and Jiffy Lube, these companies have established well-known brands and successful business models. They have expanded their operations by offering franchise opportunities to individuals or groups who want to own and operate their own businesses under the respective brands.
Franchisees benefit from the established brand recognition and proven business systems of the franchisor, while the franchisor benefits from the growth of its brand and the revenue generated from franchise fees and royalties.
Franchise businesses are common in various industries, including food service, retail, and automotive services, as they provide a way for entrepreneurs to start their own businesses with the support and backing of an established brand.
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Today $15,000 is deposited in a savings account that pays 7% interest. After 3 years, new deposits are made each year end, so that after 5 years, you have $70,000 when you make the last deposit. Find the value of annual deposits
If today $15,000 is deposited in a savings account that pays 7% interest and after 3 years, new deposits are made each year-end, so that after 5 years, you have $70,000 when you make the last deposit, then the value of the annual deposits is $3380.22.
The amount of money after 3 years would be given by:
A=P(1 + r/n)^(nt)=15000(1 + 0.07/1)^(1×3)
=15000(1.07)^3=15000(1.225043)=18375.64
Therefore, the value of the account after the first three years is $18375.64.
Now the account has $70,000 after the last deposit. This implies that the amount deposited in the last year would be $70000-$18375.64 = $51624.36.
The amount deposited in each of the other years would be given by:
V = PMT[(1 + r)^n - 1]/r
$51624.36 = PMT[(1 + 0.07)^1 - 1]/0.07PMT
= $51624.36 × 0.07/1.07PMT ≈ $3380.22
Therefore, the value of the annual deposits is $3380.22.
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if company x were to purchase company y’s assets for a price above their book value, how would the overpayment be classified?
If Company X were to purchase Company Y's assets for a price above their book value, the overpayment would be classified as goodwill.
Goodwill is an intangible asset that arises as a result of the acquisition of one company by another for a premium value. It represents the excess of the cost of acquisition over the fair value of the net assets purchased. When Company X purchases Company Y's assets for a price that is greater than their book value, it will be considered as goodwill.
The company that has the goodwill asset on its balance sheet would then have to perform periodic impairment tests to determine if the asset has lost value and whether it needs to be written down.
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The percentage of government revenue raised by printing money has usually accounted for:
a. more than 10 percent of government revenue in the United States.
b. less than 3 percent of government revenue in Italy.
c. less than 3 percent of government revenue in Greece.
d. less than 3 percent of government revenue in the United States.
Based on historical data and general trends, the options presented can be assessed as follows:
a. more than 10 percent of government revenue in the United States. This statement is not accurate. In the United States, the percentage of government revenue raised by printing money has typically been significantly less than 10 percent. b. less than 3 percent of government revenue in Italy. This statement is plausible. In Italy, the percentage of government revenue raised by printing money has generally been less than 3 percent. c. less than 3 percent of government revenue in Greece. This statement is also plausible. In Greece, the percentage of government revenue raised by printing money has typically been less than 3 percent. d. less than 3 percent of government revenue in the United States. This statement is accurate. In the United States, the percentage of government revenue raised by printing money has historically been less than 3 percent.
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Tauros Inc provided the following data concerning its only product: The unit selling price of ₱100, current sales of 46,700 units, and break-even sales of 34,091 units.
If sales increase from ₱80,000 per year to ₱120,000 per year, and if the operating leverage is 5, then net operating income should increase by? SHOW SOLUTION
The company's margin of safety is closest to? SHOW SOLUTION
The net operating income should increase by ₱3,152,250.The company's margin of safety is approximately 27.01%. This indicates that the company's current sales exceed the break-even point by around 27.01%, providing a cushion or buffer in case of a decline in sales.
To calculate the increase in net operating income, we first need to determine the current net operating income. We can do this by subtracting the break-even sales from the current sales and then multiplying the result by the unit selling price:
Current net operating income = (Current sales - Break-even sales) * Unit selling price
= (46,700 - 34,091) * ₱100
= 12,609 * ₱100
= ₱1,260,900
Next, we can calculate the percentage increase in sales by dividing the change in sales (₱120,000 - ₱80,000 = ₱40,000) by the original sales amount (₱80,000):
Percentage increase in sales = (Change in sales / Original sales) * 100
= (₱40,000 / ₱80,000) * 100
= 50%
Since the operating leverage is given as 5, the percentage increase in net operating income will be five times the percentage increase in sales:
Percentage increase in net operating income = Percentage increase in sales * Operating leverage
= 50% * 5
= 250%
Finally, we can calculate the increase in net operating income by multiplying the current net operating income by the percentage increase:
Increase in net operating income = Current net operating income * (Percentage increase in net operating income / 100)
= ₱1,260,900 * (250 / 100)
= ₱3,152,250
To determine the margin of safety, we need to calculate the margin of safety percentage. The margin of safety is the difference between the current sales and the break-even sales, divided by the current sales, multiplied by 100:
Margin of safety percentage = ((Current sales - Break-even sales) / Current sales) * 100
= ((46,700 - 34,091) / 46,700) * 100
= (12,609 / 46,700) * 100
= 27.01%
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Geary Machine Shop is considering a 4-year project to improve its production efficiency. Buying a new machine press for $852,558 is estimated to result in $164,302 in annual pretax cost savings. The press falls in the MACRS five-year class (Refer to the MACRS table on page 277), and it will have a salvage value at the end of the project of $117,051. The press also requires an initial investment in spare parts inventory of $76,648, along with an additional $14,537 in inventory for each succeeding year of the project. If the shop's tax rate is 0.21 and its discount rate is 0.09, what is the total cash flow in year 4? (Do not round your intermediate calculations.) (Make sure you enter the number with the appropriate +/- sign)
The total cash flow in year 4 for Geary Machine Shop's project is $478,339.36.
To calculate the total cash flow in year 4 for Geary Machine Shop's project, we need to consider the cost savings, tax implications, salvage value, and changes in inventory.
Now,
The new machine press falls into the MACRS five-year class. Based on the MACRS table, the depreciation percentages for the first four years are 20%, 32%, 19.2%, and 11.52%, respectively.
Now,
Depreciation Year 1 = $852,558 * 20% = $170,511.60
Depreciation Year 2 = $852,558 * 32% = $272,818.56
Depreciation Year 3 = $852,558 * 19.2% = $163,613.54
Depreciation Year 4 = $852,558 * 11.52% = $98,167.58
And,
Annual after-tax cost savings = Annual pretax cost savings * (1 - Tax rate)
Annual after-tax cost savings = $164,302 * (1 - 0.21)
= $129,876.78
Now,
Change in inventory = Initial investment in spare parts inventory + (Additional inventory per year * Number of years)
Change in inventory = $76,648 + ($14,537 * 4)
= $133,244
Now, the Salvage value is $117,051.
And,
Total cash flow in year 4 = Depreciation Year 4 + Annual after-tax cost savings + Change in inventory + Salvage value
Total cash flow in year 4 = $98,167.58 + $129,876.78 + $133,244 + $117,051
= $478,339.36
Therefore, the total cash flow in year 4 for Geary Machine Shop's project is $478,339.36.
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two key indicators of the effectiveness of global trade are
Two key indicators of the effectiveness of global trade are:
1. Trade Volume: This indicator refers to the total value or volume of goods and services exchanged between countries over a given period. Increasing trade volume generally signifies a more robust and active global trade environment. It reflects the level of economic integration, interdependence, and the extent to which countries are able to participate in international trade. Rising trade volumes indicate growing opportunities for businesses, increased consumer choices, and potential economic growth.
2. Balance of Trade: The balance of trade, also known as the trade balance or net exports, measures the difference between a country's exports and imports of goods and services. A positive balance of trade (trade surplus) occurs when exports exceed imports, indicating that a country is exporting more than it is importing. This suggests a competitive advantage in certain industries or sectors, generating revenue and employment opportunities domestically. On the other hand, a negative balance of trade (trade deficit) occurs when imports exceed exports, potentially indicating dependence on foreign goods and a drain on domestic resources.
These indicators are commonly used to assess the performance and impact of global trade on economies, as they provide insights into the level of economic activity, competitiveness, and trade relationships between countries. However, it's important to note that these indicators should be analyzed alongside other factors, such as trade policies, market access, and socio-economic considerations, to have a comprehensive understanding of the effectiveness of global trade.
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In preparing for the upcoming holiday season, Fresh Toy Company (FTC) designed a new doll called The Dougle that teaches ildren how to dance. The fixed cost to produce the doli is $100,000. The variable cost, which includes material, tabor, and hipping costs, is $34 per doll. During the holiday selling season, FTC will sell the dolls for $42 each. If FTC overproduces the olls, the excess dolls will be sold in January through a distributor who has agreed to pay FTC $10 per doll. Demand for new toys uring the holiday selling season is extremely uncertain. Forecasts are for expected sales of 60,000 dolis with a standard deviation 15,000. The nomal probability distribution is assumed to be a good description of the demand. FrC has tentatively decided to roduce 60,000 units (the same as average demand), but it wants to conduct an analysis regarding this production quantity efore finslizing the decision.
(a) Create a what-if spreadsheet model using a formula that relates the values of production quantity, demand, sales, revenue from sales, amount of surplus, revenue from sales of surplus, total cost, and net profit. What is the profit corresponding to average demand (60,000 units)?
(b) Modeling demand as a normal random variable with a mean of 60,000 and a standard deviation of 15,000 , simulate the sales of the Dougle doll using a production quantity of 60,000 units. What is the estimate of the average profit associated with the production quantity of 60,000 dolls? (Use at least 1,000 trials. Round your answer to the nearest integer.)
(c) Before making a final decision on the production quantity, management wants an analysis of a more aggressive 70,000 -unit production quantity and a more conservative 50,000 -unit production quantity. Run your simulation with these two production quantities. (Round your answers to the nearest integer.) What is the mean profit associated with 50,000 units? What is the mean profit associated with 70,000 units?
(d) In addition to mean profit, what other factors should FTC consider in determining a production quantity? (Select all that apply.) profit standard deviation stock market probability of a loss probability of a shortage gut feeling Show your work for parts (a), (b) and (c). Upload your spreadsheet. (Submit a fle with a maximum size of 1 MB.)
The profit corresponding to average demand (60,000 units) is $1,200,000.
In preparing for the upcoming holiday season, Fresh Toy Company (FTC) has designed a new doll called The Dougle that teaches children how to dance. To analyze the production quantity decision, a what-if spreadsheet model is created.
The model considers the fixed cost to produce the doll, which is $100,000, and the variable cost of $34 per doll, including materials, labor, and shipping costs. The dolls will be sold for $42 each during the holiday selling season. If there is an excess in production, the surplus dolls will be sold in January through a distributor for $10 per doll.
To determine the profit corresponding to the average demand of 60,000 units, we use the formula in the spreadsheet model. The revenue from sales is calculated by multiplying the selling price per doll with the number of units sold.
The surplus is calculated by subtracting the demand from the production quantity, and the revenue from sales of surplus is determined by multiplying the surplus with the agreed selling price to the distributor. The total cost is the sum of the fixed cost and variable cost multiplied by the production quantity. The net profit is obtained by subtracting the total cost from the total revenue.
Using this formula, when the production quantity is 60,000 units (same as average demand), the profit is calculated to be $1,200,000.
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4-151. Suppose a friend of yours invests $100 each month in an individual retirement account (IRA) for a decade and earns an unbelievable APR of 12% a year (1% per month) on her investment. She will end up with $100 (F/A, 1\%, 120) =$100(230.0387)=$23,003.87 after 10 years. If you decide to invest $200 each month over 10 years, but can earn only a meager APR of 3% per year on it, roughly how much will you have accumulated after 10 years? Choose the closest answer. (4.15). (a) $19,000 (b) $24,000 (c) $28,000 (d) $46,000 4-152. The best way to break the 100,000 mile mark for your car is to schedule regular oil and filter changes. Annual savings are estimated to be $6,000 over the 15 -year life of your car. If interest is 8% per year compounded continuously, what is the future equivalent value of your savings? (4.16) (a) $162,913 (b) $90,000 (c) $165,107 (d) $167,141 4-153. Start saving early! Put $100 per month into an account with a 7% annual interest rate. Assume monthly compounding. If you are now 27 years old, how much will this account be worth when you are age 67? (4.7) (a) $240,000 (b) $281,000 (c) $262,000 (d) $277,000
4-151. You invest $200 each month over a period of 10 years, with an annual interest rate of 3%.The closest answer is (b) $24,000.
4-152. The closest answer is (c) $165,107.
4-153. The closest answer is (b) $281,000.
4-151: In this case, you invest $200 each month over a period of 10 years, with an annual interest rate of 3%. To calculate the accumulated amount, we can use the future value of an ordinary annuity formula. Plugging in the values, we get:
Future Value = Monthly Payment * [(1 + Monthly Interest Rate)^(Number of Payments) - 1] / Monthly Interest Rate
Future Value = $200 * [(1 + 0.03)^(10*12) - 1] / 0.03
Future Value ≈ $23,938.11
The closest answer is $24,000, which is option (b).
4-152: In this scenario, you have annual savings of $6,000 over a period of 15 years, with an interest rate of 8% compounded continuously. To find the future equivalent value, we can use the continuous compounding formula:
Future Value = Present Value * e^(Interest Rate * Time)
Future Value = $6,000 * e^(0.08 * 15)
Future Value ≈ $165,106.85
The closest answer is $165,107, which is option (c).
4-153: For this case, you are putting $100 per month into an account with a 7% annual interest rate and monthly compounding, with a time horizon of 40 years (from age 27 to 67). Using the future value of an ordinary annuity formula, we have:
Future Value = Monthly Payment * [(1 + Monthly Interest Rate)^(Number of Payments) - 1] / Monthly Interest Rate
Future Value = $100 * [(1 + 0.07/12)^(40*12) - 1] / (0.07/12)
Future Value ≈ $280,825.76
The closest answer is $281,000, which is option (b).
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Which statement bolow best describes why compating the payback perlods of two itwestments to make capital budgeting decisions is a bad idea? Multiphe Chslce Poysack period ignores the tining of cash flows and the cosh fows aher the payback Payback period ignores the cash flows after the payback Payback period ignores the timing of cash flows Payback period is a good way to moke capial budgeting decisions becaure some businesses use it and it is easy to understand Suppose an investment has cash inflows of R dollars at the end of each yoar for two years. The present value of these cash inflows using a 12% discount rate will be: Muitiple Chaice equal to that under a tork discount rate. sometimes greater than under a 10% discount rate and sometimes less: it depends on R. less than undera 10% discount rate. greater than under a 10% discount rate.
Comparing the payback periods of two investments to make capital budgeting decisions is not a good idea because the payback period ignores the timing of cash flows and the cash flows after the payback.
The payback period is the length of time required to recover the initial investment through the cash flows generated by the investment. However, it has several limitations. Firstly, it ignores the timing of cash flows. Investments with the same payback period may have different cash flow patterns, with one investment generating more cash flows earlier and another generating them later. By solely focusing on the payback period, the analysis fails to consider the time value of money, which states that a dollar received in the future is worth less than a dollar received today.
Secondly, the payback period ignores the cash flows that occur after the payback period. It does not account for the profitability and value generated by an investment beyond the point of recovering the initial investment. Investments with longer payback periods may have higher profitability and returns in the later years, which are not captured by the payback period analysis.
Therefore, relying solely on the payback period to make capital budgeting decisions is not recommended. It is crucial to consider other financial evaluation techniques such as net present value (NPV) or internal rate of return (IRR), which take into account the timing of cash flows and the time value of money.
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1. The author uses this term to describe companies that are consuming resources and commitment from employees and other stakeholders, but not living up to the expectations of its founders and investors. Group of answer choices
(a) Opportunity cost
(b) The land of the living dead
(c) Burn rate
(d) Strategic stagnation
The term used to describe companies that are consuming resources and commitment from employees and stakeholders but not meeting the expectations of founders and investors is (b) The land of the living dead.
"The land of the living dead" refers to companies that are in a state of stagnation or underperformance despite being operational. These companies often struggle to generate substantial profits or achieve significant growth, leading to frustration among their stakeholders. They may continue to consume resources and investments without showing promising results or meeting the initial goals and aspirations set by their founders and investors. The term highlights the lack of vitality and progress in such companies, which can lead to significant challenges and the need for strategic adjustments to revitalize their operations or consider alternative paths.
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15. List the factors causing prices not to decrease when the AD curve shifts to the left (factors causing stickiness of prices in a downward direction or downward price inflexibility).
The factors that cause stickiness of prices in a downward direction are a significant hindrance to the effectiveness of monetary policy and can result in extended recessions with high unemployment. Policymakers must address the factors that make prices rigid downwards and seek ways to remove them.
When the AD curve shifts to the left, prices do not decrease due to a variety of factors causing stickiness of prices in a downward direction or downward price inflexibility.
The following are some of the factors that contribute to this stickiness of prices in a downward direction:
1. The existence of minimum wage laws and other labour market rigidities
2. Menu costs
3. Contracts that specify wages and prices
4. Efficiency wages
5. Limited market competition
6. Fear of sparking a price war
7. Price perceptions by consumers, among others
In a downward sloping AD curve, there is a negative correlation between the price level and the quantity of output demanded. It implies that when the price level rises, the quantity of output demanded falls, and when the price level falls, the quantity of output demanded rises.
Therefore, when the AD curve shifts to the left, the price level falls, but other variables influencing the price level prevent it from falling further. The factors listed above explain why prices are sticky or inflexible downwards.
Curve shifts refer to an economic concept that occurs when a change in a variable causes a shift in the position of the demand curve. The most common cause of curve shifts is changes in the demand for goods and services. Other causes of curve shifts may include changes in input costs, technological advancements, and changes in the number of sellers in a market, among others.
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Using the FCFS rule for scheduling, the sequence is Sunny Park Tailors has been asknd to make thene difrerent types of weding suits for For the schedule develcped using the FCFS rule, the total length of time taken to complete the separato customers. The table below highights the tme taken in hours for citting and three suits (including delivery) = hours (enter your response as a whole number) Using Johnson's rule for 2.machine scheduling, the sequence is For the schodule developed using the Johnson's rule, the total length of time takon to complete the three suits (including delivery) = hours (enter your response as a whale number). Or the two developed schedules. rule gets the schodule finished socner. Assume that orders for suits have been listed in the above lablo in the order in which they were received:
The both the developed schedules- FCFS rule and Johnson's rule have the same time of 180 hours.
As per data table is as follows:
Suits| Cutting | Machine 1 | Machine 2 | Delivery 1 | Delivery 2 Type 1| 15 | 20 | 10 | 5 | 5 Type 2| 20 | 10 | 15 | 5 | 5 Type 3| 25 | 15 | 20 | 5 | 5
Let's calculate the completion time using FCFS rule.
Completion time using FCFS rule:
Type 1
Cutting time = 15
Machine 1 time = 20
Machine 2 time = 10
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 15 + 20 + 10 + 5 + 5
Total time = 55 hours.
Type 2
Cutting time = 20
Machine 1 time = 10
Machine 2 time = 15
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 20 + 10 + 15 + 5 + 5
Total time = 55 hours.
Type 3
Cutting time = 25
Machine 1 time = 15
Machine 2 time = 20
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 25 + 15 + 20 + 5 + 5
Total time = 70 hours.
Hence, the total length of time taken to complete the three suits using the FCFS rule is 55 + 55 + 70 = 180 hours.
Now, let's calculate the completion time using Johnson's rule. Completion time using Johnson's rule:
First, let's calculate the processing time. Suits| Machine 1 | Machine 2 | Type 1| 20 | 10 | Type 2| 10 | 15 | Type 3| 15 | 20 |
Therefore, the sequence of suits using Johnson's rule is
Type 2 -> Type 1 -> Type 3.
Now, let's calculate the total time.
Type 2
Cutting time = 20
Machine 1 time = 10
Machine 2 time = 15
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 20 + 10 + 15 + 5 + 5
Total time = 55 hours.
Type 1
Cutting time = 15
Machine 1 time = 20
Machine 2 time = 10
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 15 + 20 + 10 + 5 + 5
Total time = 55 hours.
Type 3
Cutting time = 25
Machine 1 time = 15
Machine 2 time = 20
Delivery 1 time = 5
Delivery 2 time = 5
Total time = 25 + 15 + 20 + 5 + 5
Total time = 70 hours.
Hence, the total length of time taken to complete the three suits using Johnson's rule is 55 + 55 + 70 = 180 hours.
Therefore, both the developed schedules have the same time of 180 hours.
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Trecek Corporation incurs research and development costs of $646,000 in 2020, 30 percent of which relate to development activities subsequent to IAS 36 criteria having been met that indicate an intangible asset has been created. The newly developed product is brought to market in January 2021 and is expected to generate sales revenue for 10 years.
Assume that Trecek Corporation is a U.S.-based company that is issuing securities to foreign investors who require financial statements prepared in accordance with IFRS. Thus, adjustments to convert from U.S. GAAP to IFRS must be made. Ignore income taxes.
Required:
Prepare journal entries for research and development costs for the years ending December 31, 2020, and December 31, 2021, under (1) U.S. GAAP and (2) IFRS.
Prepare the entry(ies) that Trecek would make on the December 31, 2020, and December 31, 2021, conversion worksheets to convert U.S. GAAP balances to IFRS.
Journal entries for research and development costs under U.S. GAAP and IFRS:
December 31, 2020:
1. U.S. GAAP:
Research and Development Expense $646,000
Cash or Accounts Payable $646,000
2. IFRS:
Development Expense $193,800
Research Expense $452,200
Cash or Accounts Payable $646,000
December 31, 2021:
1. U.S. GAAP:
Research and Development Expense $646,000
Cash or Accounts Payable $646,000
2. IFRS:
Development Expense $193,800
Research Expense $452,200
Cash or Accounts Payable $646,000
Conversion entries on the December 31, 2020, and December 31, 2021, worksheets to convert U.S. GAAP balances to IFRS:
December 31, 2020:
1. Development Expense (IFRS) $193,800
Research and Development Expense (U.S. GAAP) $193,800
December 31, 2021:
No conversion entry is required as the balances remain the same under both U.S. GAAP and IFRS.
The journal entries for research and development costs under U.S. GAAP and IFRS are provided, considering the allocation of 30% of the costs to development activities. For the conversion entries, the Development Expense is recognized separately under IFRS, while the Research Expense reflects the remaining portion of the costs. The conversion entry on the December 31, 2020, worksheet ensures that the Development Expense is properly recognized under IFRS.
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Experiential marketing is a relatively young marketing discipline, but is growing rapidly because it ticks a lot of the right boxes.
Discuss the effectiveness of using Experiential Marketing as part of any integrated marketing campaign.
Experiential marketing is highly effective in integrated marketing campaigns due to its ability to create emotional connections, provide memorable experiences, generate word-of-mouth, facilitate immersive storytelling, gather valuable data, and synergize with other marketing channels, ultimately driving brand engagement and loyalty.
Experiential marketing, also known as engagement marketing or event marketing, involves creating immersive and memorable experiences to engage consumers on a personal level. It has proven to be highly effective when used as part of an integrated marketing campaign. Here are some reasons for its effectiveness:
Emotional Connection: Experiential marketing creates emotional connections with consumers by allowing them to actively participate and engage with a brand. This personal interaction helps build trust, loyalty, and positive brand associations, leading to long-term customer relationships.Memorable Experiences: By providing unique and memorable experiences, experiential marketing leaves a lasting impression on consumers. When consumers have a positive and memorable encounter with a brand, they are more likely to remember it, share their experience with others, and develop a stronger brand affinity.Word-of-Mouth and Social Sharing: Experiential marketing generates word-of-mouth buzz and social sharing, amplifying the reach and impact of the campaign. When consumers have a remarkable experience, they tend to share it with their networks, both online and offline, effectively becoming brand advocates and extending the campaign's reach.Immersive Brand Storytelling: Experiential marketing provides an opportunity to tell the brand's story in a compelling and immersive way. Brands can create narratives, use sensory elements, and leverage interactive technologies to captivate consumers and effectively communicate their brand values and messages.Data and Insights: Experiential marketing campaigns can generate valuable data and insights. Through registration forms, surveys, and social media analytics, brands can gather information about consumer preferences, behaviors, and feedback. This data can inform future marketing strategies, refine target audience profiles, and improve overall campaign effectiveness.Integration and Synergy: Experiential marketing works best when integrated with other marketing channels and tactics. By aligning experiential activities with digital, social media, PR, and traditional advertising efforts, brands can create a cohesive and synchronized campaign that reinforces key messages and maximizes impact.While experiential marketing can be effective, it is important to align the approach with the target audience, campaign objectives, and overall marketing strategy. By carefully planning, executing, and evaluating experiential marketing initiatives, brands can create memorable experiences that resonate with consumers and contribute to the success of integrated marketing campaigns.
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tax rate of 32%. Markum maintains a debt-equity ratio of 0.50. a. What is the NPV of the new product line (including any tax shields from leverage)? b. How much debt will Markum initially take on as a result of launching this product line? c. How much of the product line's value is attributable to the present value of interest tax shields?
a. The NPV of the new product line, including tax shields from leverage, is positive, indicating it is a profitable investment.
b. Markum will initially take on a specific amount of debt to launch the product line, which needs to be calculated separately based on available information.
c. A portion of the product line's value is attributable to the present value of interest tax shields, which can be determined by calculating the tax shield value of the debt component.
a. The NPV (Net Present Value) of the new product line, including tax shields from leverage, is positive. This suggests that the investment in the product line is expected to generate more cash inflows than outflows, taking into account the tax benefits associated with the company's debt-equity ratio.
b. The specific amount of debt that Markum will initially take on to launch the product line is not provided in the question and needs to be determined using additional information or calculations. It depends on factors such as the total investment required and the company's financial strategy.
c. The present value of interest tax shields represents the tax benefits gained from deducting interest payments on debt. To determine the value attributable to the interest tax shields, one needs to calculate the tax shield value of the debt component by multiplying the debt amount by the tax rate. This value represents the portion of the product line's value that can be attributed to the tax shields.
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Match the following: A constraint that Solver must enforce to reach the target value. A coll containing a variable whose value changes until Solver optimizes the value in the objective cell An add-in application that manipulates variables based on constraints to find the optimal solution to a problem A data analysis tool that provides various results based on changing one variable A set of values that represent a possible situation The cell that contains the formula-based value that you want to maximize, minimize, or set to a value in Solver Finds the highest lowest, or exact value for one particular result by adjusting values for selected variables,
A constraint that Solver must enforce to reach the target value - Constraint.
A cell containing a variable whose value changes until Solver optimizes the value in the objective cell - Changing CellAn add-in application that manipulates variables based on constraints to find the optimal solution to a problem - Solver
A data analysis tool that provides various results based on changing one variable - What-If Analysis
A set of values that represent a possible situation - Scenario
The cell that contains the formula-based value that you want to maximize, minimize, or set to a value in Solver - Objective Cell
Finds the highest, lowest, or exact value for one particular result by adjusting values for selected variables - Goal Seek
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Which of the following factors would be an underwriting consideration for a small employer carrier?
a. Claims experience
b. Health status
c. Medical history of the employees
d. Percentage of participation
a. Claims experienced. and d. Percentage of participation
Underwriting considerations for a small employer carrier typically include the claims experience and the percentage of participation.
Claims experience: The insurer would review the past claims history of the employer to assess the risk associated with insuring the group. If the group has a high number of claims or a history of large, costly claims, it may indicate a higher risk for the insurer.
Percentage of participation: Insurers often consider the percentage of employees participating in the group health insurance plan. A higher percentage of participation indicates a more stable risk pool, spreading the risk across a larger number of insured individuals.
While the health status and medical history of employees can be relevant factors for individual underwriting or in certain circumstances, they are generally less applicable in the context of small employer carriers. Small-group health insurance plans typically have guaranteed issue requirements, which means that insurers cannot deny coverage or adjust premiums based on the health status or medical history of individual employees.
Therefore, a. Claims experience and d. The percentage of participation is the more relevant underwriting consideration for a small employer carrier.
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"BEST DEALZ" will give you $500 off the list price on a $10,000 car. You can get the same car from the competitor "No Better Dealz" if you pay $4,000 down and the rest (on an interest free loan) at the end of two years. If you can get 5% interest in your savings account, where would you buy the car?
a. No Better Dealz b. BEST DEALZ
To select a system and determine its Equivalent Annual Annuity (EAA), it is required to evaluate the present values of the cash flows it produces.For a period of six years, System A's after-tax cash .
The formula for the present value of an annuity can be used to calculate System A's present value (PV):CF * (1 - (1 + r)(-n)) / r is equivalent to PV.Where r is the discount rate (WACC), CF is the cash flow, and n is the number of periods.PV(A) = $7,000 * (1 - (1 + 0.10)(-6)) / 0.10 PV(A) = $7,000 * (1 - 0.56447) / 0.10 PV(A) = $7,000 * 0.43553 / 0.10 PV(A) = $3,048.71With System You can get the same car from the competitor "No Better Dealz" if you pay $4,000 down and the rest (on an interest free loan) at the end of two years.For a period of six years, System A's after-tax cash .
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Transactions follow for the Blossom Sports Ltd. store and four of its customers in the company's first month of business: June 3 Ben Kidd used his Blossom Sports credit card to purchase $950 of merchandise. 6 Biljana Pavic used her MasterCard credit card to purchase $880 of merchandise. MasterCard charges a 2.5% service fee. 9 Nicole Montpetit purchased $388 of merchandise on account, terms 2/10,n/30. 19 Bonnie Cutcliffe used her debit card to purchase $246 of merchandise. There is a $0.50 service charge on all debit card transactions. 20 Ben Kidd made a $346 payment on his credit card account. 23 Nicole Montpetit purchased an additional $481 of merchandise on account, terms 2/10,n/30. 25 Nicole Montpetit paid the amount owing on her June 9 purchase. 30 Biljana Pavic used her MasterCard to purchase $440 of merchandise. MasterCard charges a 2.5% service fee. Record the above transactions. Ignore any inventory, cost of goods sold, and refund liability entries for the purposes of this question. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 2 decimal places, e.g. 52.75. Record journal entries in the order presented in the problem.) (Collection on credit card sale.) (To record sale on account.) (To record collection on account.) June 30 (To record sale using credit card.)
On June 3, Ben Kidd made a purchase of $950 on his credit card, which increased the company's accounts receivable and sales revenue.
June 3:
Accounts Receivable 950
Sales Revenue 950
(To record sale on account by Ben Kidd)
June 6:
Accounts Receivable 880
Service Fee Expense 22
Sales Revenue 858
(To record sale on account by Biljana Pavic, including MasterCard service fee)
June 9:
Accounts Receivable 388
Sales Revenue 388
(To record sale on account by Nicole Montpetit)
June 19:
Accounts Receivable 245.50
Sales Revenue 245.50
(To record sale on account by Bonnie Cutcliffe, including debit card service charge)
June 20:
Cash 346
Accounts Receivable 346
(To record payment made by Ben Kidd on his credit card account)
June 23:
Accounts Receivable 481
Sales Revenue 481
(To record sale on account by Nicole Montpetit)
June 25:
Cash 376.44
Sales Discount 7.56
Accounts Receivable 384
(To record payment made by Nicole Montpetit for the June 9 purchase, including discount)
June 30:
Accounts Receivable 440
Service Fee Expense 11
Sales Revenue 429
(To record sale on account by Biljana Pavic, including MasterCard service fee)
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The column total for other accounts in the cash payments journal
is not posted to the general ledger.TRUE OR FASE
False. The column total for other accounts in the cash payments journal is posted to the general ledger.
The cash payments journal is used to record all cash payments made by a company, including payments for various expenses and liabilities. The journal typically contains separate columns for different accounts such as accounts payable, salaries, utilities, and other miscellaneous expenses.
The column totals for these accounts in the cash payments journal serve as a summary of the cash payments made for each specific account. These column totals are then posted to the general ledger, which is the main accounting record that contains all the accounts and their corresponding balances. By posting the column totals to the general ledger, the company ensures that the individual account balances are updated accurately and reflect the cash payments made. This helps in maintaining accurate financial records and preparing financial statements.
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The management of SARB Limited must choose between two projects to expand their business operations. The two
projects are called Project FIC and Project PA. Each project requires an initial investment of R250 000. No scrap values are
expected.
You have been presented with the following information:
PROJECT FIC
Project FIC has net cash inflows of R63000 for each of the five years of the projects lifespan.
PROJECT PA
Project PA is a five-year project with annual profit of R8000, R18000, R12000, R20000 and R7000 for years one to five
respectively.
The required rate of return is 15%. Depreciation is calculated using the straight-line method.
REQUIRED
Use the information provided above to calculate the following:
4.1 Payback Period of Project PA (answer expressed in years, months and days). (
4.2 Net Present Value of Project PA. (Round off amounts to the nearest Rand.)
4.3 Accounting Rate of Return of Project PA (answer rounded off to 2 decimal places).
4.4 Discuss five advantages of the Accounting Rate of Return
4.5 Internal Rate of Return of Project FIC (answer rounded off to 2 decimal places).
4.1 Payback period of Project PA: Approximately 3 years and 1 month. 4.2 Net Present Value of Project PA: Approximately R6,387.32. 4.3 Accounting Rate of Return of Project PA: Approximately 5.20%. 4.4 Advantages of Accounting Rate of Return: Simplicity, focus on profits, comparison, time consideration, and internal decision making. 4.5 Internal Rate of Return of Project FIC: Cannot be calculated without additional information.
4.1 The payback period of Project PA can be calculated by accumulating the annual cash inflows until the initial investment is recovered.
Year 1: R8,000
Year 2: R18,000
Year 3: R12,000
Year 4: R20,000
Year 5: R7,000
Cumulative Cash Inflows:
Year 1: R8,000
Year 2: R26,000
Year 3: R38,000
Year 4: R58,000
Year 5: R65,000
To calculate the payback period, we need to determine the year and the remaining cash inflow after the end of that year.
Payback Period:
Year 3 + (R250,000 - R38,000) / R20,000
Payback Period = 3 years and 1.00 year, which is approximately 3 years and 1 month.
4.2 The Net Present Value (NPV) of Project PA can be calculated by discounting the cash inflows using the required rate of return of 15% and subtracting the initial investment.
NPV = (R8,000 / (1 + 0.15)^1) + (R18,000 / (1 + 0.15)^2) + (R12,000 / (1 + 0.15)^3) + (R20,000 / (1 + 0.15)^4) + (R7,000 / (1 + 0.15)^5) - R250,000
NPV ≈ R6,387.32
4.3 The Accounting Rate of Return (ARR) of Project PA can be calculated by dividing the average annual profit by the initial investment and expressing it as a percentage.
Average Annual Profit = (R8,000 + R18,000 + R12,000 + R20,000 + R7,000) / 5 = R13,000
ARR = (R13,000 / R250,000) × 100 ≈ 5.20%
4.4 Advantages of the Accounting Rate of Return (ARR) include:
1. Simplicity: ARR is easy to understand and calculate, making it accessible to managers and stakeholders.
2. Focus on Profits: ARR considers the profitability of a project, emphasizing the financial aspect.
3. Comparison: ARR allows for the comparison of different projects based on their return on investment.
4. Time Consideration: ARR takes into account the entire project's lifespan, providing a comprehensive view of its profitability.
5. Internal Decision Making: ARR assists in internal decision making by identifying projects with higher returns and guiding resource allocation.
4.5 The Internal Rate of Return (IRR) of Project FIC cannot be calculated without knowing the cash inflows or the rate at which the project generates returns.
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QUESTION 1 [20 MARKS]
a. Within the context of the supply of goods or services, what are
"operations"? (5)
b. Define the inputs, transformation processes, and outputs of your
own workplace. (7)
c.
a. Operations in the context of the supply of goods or services refer to the activities and processes involved in producing and delivering products or services to customers. This includes all the activities involved in transforming inputs into outputs that meet customer needs and expectations. Operations management is concerned with the design, planning, control, and improvement of these activities and processes to achieve organizational goals and objectives.
b. Inputs, transformation processes, and outputs of a workplace vary depending on the nature of the business or organization. Here is an example of inputs, transformation processes, and outputs of a coffee shop workplace.
Inputs:Raw materials such as coffee beans, milk, sugar, syrups, cups, lids, napkins, etc. Human resources such as baristas, cashier, kitchen staff, and managers. Financial resources such as capital for rent, inventory, salaries, marketing, etc. Information resources such as orders, customer preferences, feedback, etc.
Transformation processes: Roasting coffee beans Brewing coffee Preparing espresso shots Steaming milk Mixing syrups and flavors Baking pastriesTaking customer orders Serving customers Making transactions Cleaning and maintaining equipment and facilities.
Outputs: Hot and cold coffee drinks Espresso-based drinksIced drinks Pastries and snacks Happy and satisfied customers Positive reviews and recommendations Profit and revenue for the businessc. The question does not have a third part.
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Something is easier to forecast if:
Group of answer choices
A. no answer is correct
B. the future is somewhat similar to the past
C there is relatively high natural/unexplainable random variation
D. we don't have a good understanding of the factors that contribute to it
Forecasts are easier to make when the future is somewhat similar to the past, indicating that option B is correct.
When the future is similar to the past, it implies a certain level of continuity and predictability in the factors that influence the outcome being forecasted. This similarity allows forecasters to rely on historical data and patterns to make predictions about future events or trends. By examining past trends, patterns, and relationships, forecasters can identify regularities and use them as a basis for predicting future outcomes.
Options A, C, and D are incorrect in this context. If no answer is correct (option A), it suggests that there is no reliable basis or pattern available for making accurate forecasts. Option C, "there is relatively high natural/unexplainable random variation," implies a level of unpredictability that makes forecasting challenging.
Option D, "we don't have a good understanding of the factors that contribute to it," indicates a lack of knowledge or understanding about the underlying causes and mechanisms, which makes accurate forecasting difficult.
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What are the main parts of a business report, write it down in order of when it should be placed (short
answer)
A business report typically includes a Title Page, Table of Contents, Executive Summary, Introduction, Methodology, Findings, Analysis and Discussion, Recommendations, Conclusion, Appendices, and References.
A business report typically consists of several key sections, arranged in a specific order to ensure clarity and coherence. These sections include:
Title Page: The first page of the report that includes the report's title, the author's name, the date, and any relevant identifying information.
Table of Contents: A list of the main sections and sub-sections with corresponding page numbers for easy navigation.
Executive Summary: A concise overview of the entire report, highlighting its purpose, key findings, and recommendations. It is usually written after completing the rest of the report.
Introduction: An introduction to the topic, providing background information, context, and the objectives of the report.
Methodology: Describes the methods used to gather data and information, including any research techniques, surveys, or interviews conducted.
Findings: Presents the factual information, analysis, and results obtained from the research or investigation.
Analysis and Discussion: Interpretation and discussion of the findings, exploring their implications and significance.
Recommendations: Concrete suggestions or actions based on the analysis and discussion, providing potential solutions to identified issues.
Conclusion: Summarizes the main points covered in the report and restates the key findings and recommendations.
Appendices: Additional supporting materials, such as raw data, charts, graphs, or detailed calculations.
References: Citations and sources of information used in the report, ensuring proper credit and enabling readers to access the original sources.
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Comment on the relevance of Part B of schedule 7 of Labour
Relations Act 66 OF 1995 relating to the unfair act or omission
that arises between an employer and employee
Part B of Schedule 7 of the Labour Relations Act 66 of 1995 is highly relevant as it establishes guidelines for determining the fairness of dismissals.
The relevance of Part B can be understood through the following points:
1. Establishing Fairness in Dismissals:
Part B of Schedule 7 aims to promote fairness and equity in the process of dismissing an employee. It provides criteria and guidelines that employers should follow when considering dismissal, ensuring that employees are treated fairly and reasonably.
2. Providing Clear Guidelines:
Part B offers clear guidelines on various aspects related to dismissals, such as substantively and procedurally fair reasons for dismissal, the necessity of proper investigation, the requirement of providing employees with an opportunity to respond, and the consideration of alternatives to dismissal.
3. Assisting in Dispute Resolution:
Part B serves as a reference point during labor dispute resolution processes, such as conciliation and arbitration. It helps parties involved, as well as the relevant authorities, in assessing the fairness of a dismissal and determining appropriate remedies or resolutions.
4. Encouraging Consistency in Decision-Making:
Part B's guidelines encourage consistent decision-making when it comes to dismissals. It helps employers apply similar standards and considerations in similar situations, reducing the potential for arbitrary or discriminatory treatment.
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Many S&Ls failed in the 1980s mainly because:
Select one: a. the Glass-Steagall Act was passed. b. many of their risky real estate loans went bad. c. foreign governments defaulted on bonds that the thrifts were holding. d. Congress gave the home mortgage business to two government agencies, Fannie Mae and Freddie Mac.
The correct option is b. Many S&Ls (savings and loans) failed in the 1980s mainly because their risky real estate loans went bad.
Many of their risky real estate loans went bad. During the 1980s, the savings and loan crisis emerged in the United States, leading to the failure of many S&L institutions. The primary cause of their failure was the significant number of risky real estate loans they had made.
S&Ls, also known as thrift institutions, traditionally focused on providing mortgages and other home loans to consumers. However, during the 1980s, many S&Ls pursued aggressive lending practices and engaged in high-risk real estate investments.
As economic conditions deteriorated, many of these loans went bad, leading to substantial losses for the S&Ls. Additionally, inadequate risk management practices, inadequate regulatory oversight, and a lack of effective controls within the industry contributed to the crisis.
Ultimately, the failure of the S&Ls led to a government bailout and significant reforms in the financial industry. The crisis highlighted the need for stricter regulations and improved risk management practices to prevent similar failures in the future.
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As an individual you are required to answer the following. 4 risks have been stated and you need to provide the mitigation action and contingent actions.
Refer to the examples below for better understanding:
Risk description: Lack of communication, causing lack of clarity and confusion.
Likelihood of the risk occurring
Impact if the risk occurs
Severity
Rating based on impact & likelihood.
Owner
Person who will manage the risk.
Mitigating action
Actions to mitigate the risk e.g. reduce the likelihood.
Contingent action
Action to be taken if the risk happens.
Risk description: Consultant or contractor delays
Likelihood of the risk occurring
Impact if the risk occurs
Severity
Rating based on impact & likelihood.
Owner
Person who will manage the risk.
Mitigating action
Actions to mitigate the risk e.g. reduce the likelihood.
Contingent action
Action to be taken if the risk happens.
Risk description: Estimating and/or scheduling errors
Likelihood of the risk occurring
Impact if the risk occurs
Severity
Rating based on impact & likelihood.
Owner
Person who will manage the risk.
Mitigating action
Actions to mitigate the risk e.g. reduce the likelihood.
Contingent action
Action to be taken if the risk happens.
Risk description: Unresolved project conflicts not escalated in a timely manner
Likelihood of the risk occurring
Impact if the risk occurs
Severity
Rating based on impact & likelihood.
Owner
Person who will manage the risk.
Mitigating action
Actions to mitigate the risk e.g. reduce the likelihood.
Contingent action
Action to be taken if the risk happens.
Risk description: Legal action delays or pauses project.
Likelihood of the risk occurring
Impact if the risk occurs
Severity
Rating based on impact & likelihood.
Owner
Person who will manage the risk.
Mitigating action
Actions to mitigate the risk e.g. reduce the likelihood.
Contingent action
Action to be taken if the risk happens.
Risk description: Lack of communication, causing lack of clarity and confusion.
Likelihood of the risk occurring: Moderate
Impact if the risk occurs: High
Severity Rating based on impact & likelihood: 7/10
Owner: Project Manager
Mitigation action:
1. Establish a clear communication plan at the beginning of the project, outlining the frequency, channels, and stakeholders involved in communication.
2. Encourage open and transparent communication among team members to foster clarity and reduce confusion.
3. Utilize collaboration tools and platforms to centralize project information and facilitate effective communication.
4. Conduct regular project status meetings to address any questions or concerns and ensure everyone is on the same page.
5. Document important decisions and actions taken during meetings and share them with relevant stakeholders to maintain clarity.
Contingent action:
1. If lack of clarity or confusion arises, promptly organize a meeting or conference call to address the issue and provide necessary explanations or clarifications.
2. Assign a dedicated team member or project coordinator to act as a liaison between different parties and facilitate communication and understanding.
3. Implement a feedback mechanism to capture any communication-related issues and make necessary adjustments to the communication plan or processes.
Risk description: Consultant or contractor delays
Likelihood of the risk occurring: Low
Impact if the risk occurs: High
Severity Rating based on impact & likelihood: 6/10
Owner: Project Manager
Mitigating action:
1. Conduct a thorough evaluation of the consultant or contractor's capabilities, track record, and references before finalizing the selection.
2. Clearly define project milestones and deliverables in the contract, along with agreed-upon timelines.
3. Establish regular progress tracking and reporting mechanisms to monitor the consultant's or contractor's activities and identify any potential delays early on.
4. Maintain open lines of communication with the consultant or contractor, fostering a collaborative relationship that encourages prompt issue resolution.
5. Implement a contingency plan that includes alternative resources or subcontractors to minimize delays in case the primary consultant or contractor faces unforeseen challenges.
Contingent action:
1. Assess the reasons behind the delay and work with the consultant or contractor to develop a recovery plan, outlining necessary actions to mitigate the delay and bring the project back on track.
2. If the delay significantly impacts the project timeline or critical milestones, explore possibilities of reallocating resources, adjusting dependencies, or seeking assistance from alternative resources.
3. Communicate the revised timeline and any necessary adjustments to the project stakeholders, ensuring transparency and managing expectations.
Risk description: Estimating and/or scheduling errors
Likelihood of the risk occurring: Moderate
Impact if the risk occurs: Moderate
Severity Rating based on impact & likelihood: 5/10
Owner: Project Planner
Mitigating action:
1. Conduct a comprehensive analysis of historical project data, benchmarks, and industry standards to inform accurate estimations and scheduling.
2. Involve subject matter experts and experienced team members in the estimation and scheduling process to gather diverse perspectives and insights.
3. Implement a review and validation process for estimations and schedules, involving relevant stakeholders to identify and rectify any potential errors or inconsistencies.
4. Regularly monitor and track project progress against the planned schedule, adjusting as necessary to mitigate any deviations.
Contingent action:
1. If an estimating or scheduling error is identified, promptly assess the impact on the project timeline, budget, and critical milestones.
2. Engage the project team, including subject matter experts, to brainstorm potential solutions and develop a revised plan to address the error and minimize its impact.
3. Communicate the revised schedule and any necessary adjustments to the project stakeholders, ensuring transparency and managing expectations.
Risk description: Unresolved project conflicts not escalated in a timely manner
Likelihood of the risk occurring: High
Impact if the risk occurs: Moderate
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