OPERATIONS & FINANCIAL DECISION MANAGEMENT Essay

OPERATIONS & FINANCIAL DECISION MANAGEMENT - Essay Example 1. As per the abbreviated balance sheet dated 31.1.2006, the stock levels on 31/1/2007 was  £ 1382,592 as compared to  £ 1132,505 on 31/1/2006. Thus, there has been an increase of 22.08% over the previous year. Moreover, it is seen that the inventory components of stock in the company consists of many small items supplied by different manufacturers . Among these, items like envelope, envelope scoop, padded cover, inflator fans, basket, burners and cylinders form the main constituents of the finished product – the inflatable balloons. It is seen for these crucial stock items, there may be only one or two approved suppliers. Therefore, it needs to be ensured that delivery and quality aspects need to be strictly looked into, since the safety aspects of these air balloons cannot be compromised since it involves human safety and security. Moreover, if it is needed to change suppliers of crucial items, it become necessary to get recertified from the approval body for safety and security which may not be an easy task. Therefore, it is felt that given the fact that there are many sub assembly parts and components involved in the making of an air balloon, it is necessary to maintain a higher level of stock inventories. Lead time: The manufacture of hot air balloons involves a specialist task entailing maximum safety and standard control adherence, and nothing could be left a chance in the manufacture of hot air balloons. In the case of ordering being placed for resupply, the delivery may take time, depending upon the type of raw materials and the time required for reorders. For the supply of fabrics, the lead time may be around 8 weeks. Again, in the case of other items, the lead time would be a period ranging from 3 days to 3 months, depending upon market conditions and availability of materials reordered. Sometimes it may happen that the items may not be available in ready stocks with the vendors/suppliers, and therefore, it may

Global Project Management Research Paper Example | Topics and Well Written Essays - 500 words

Global Project Management - Research Paper Example Unfortunately, due to federal budget constraints, the project was shelved in 2006. In February 2009, as part of the American Recovery and Reinvestment Act (ARRA), the US General Services Administration (GSA) was tasked with reviewing its backlog of shovel ready infrastructure projects for well planned projects in an effort to help create jobs in the construction and real estate sectors, while simultaneously making use of energy-efficient technologies, smart building design and green energy solutions. ARRA funding also required government agencies to streamline the way they did business, cut costs while doing so, and deliver a quality product over a shorter period of time. Since the Northwest Arctic Region 10 had the modernization of EGWW on hold due to a lack of funding, they selected this design-bid-build project for funding. As the EGWW project was considered â€Å"shovel ready,† meaning many of the documents had already been created; GSA determined the project a worthy recipient of funding. The EGWW modernization project provides for an interesting look at how effectively GSA was able to deliver on those requirements using project management techniques. In receiving ARRA funding, the project was in turn agreeing to abide by ARRA funding mandates, which introduced project constraints to the scope, cost, and schedule of the project and impacted how the project would be managed and delivered. Part I of this paper will explore the impact that the ARRA funding mandates had on the scope, cost, and schedule of the project and how GSA elected to manage the project in light of these funding mandates. Part II of this paper, through a Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis, will look at four broad questions: What implications do the project management tools of the EGWW modernization project have on future GSA projects? What contributions has the project made to the body of knowledge for project