Project Management: A Comprehensive Guide from Idea to Evaluation
Project Management: From Idea to Evaluation
Economic Problems and the Need for Projects
We face various needs with limited resources. Maslow’s Hierarchy of Needs highlights these needs, starting with physiological needs like breathing and eating, then safety, belonging, esteem, and finally self-actualization.
Limited resources, including financial, material, human, and time, necessitate prioritization. Scarcity drives the allocation of resources based on this prioritization.
Projects as Solutions
Projects
Read MoreProject Management: From Needs to Feasibility and Types
Economic Problems and Project Needs
Multiple Needs:
Limited or different levels of needs exist. The Maslow pyramid categorizes basic needs:
- Physiological: Breathing, drinking water, eating, etc.
- Safety: Maintaining achieved welfare. Health and physical security. Job security, income, and resources.
- Membership: Belonging to families, friends, and groups.
- Recognition: Self-recognition, respect, and self-morality.
- Self-Actualization: Spontaneity, creativity, and personal growth.
Limited Resources:
Financial,
Read MoreCommon Risk Factors in Stock and Bond Returns: A Comprehensive Analysis
Investment Paper 2: Common Risk Factors in the Returns on Stocks and Bonds: This paper identifies five common risk factors in the returns on stocks and bonds.
There are three stock-market factors: an overall market factor and factors related to firm size and book-to-market equity. There are two bond-market factors related to maturity and default risks.
Most importantly, the five factors seem to explain average returns on stocks and bonds. They used time-series regressions to address the central asset-
Read MoreMonopoly Firms: Characteristics, Profit Maximization, and Price Discrimination
April 18: The Monopoly Firm: The Polar Opposite of the Perfectly Competitive Firm
Unlike a perfectly competitive (PC) industry with its many producers, a monopoly industry has only one producer.
Why? Barriers to entry into the industry: natural (high fixed costs), legal (government granted/permitted), or resource constraints.
Let’s look at the graph of the monopoly firm maximizing profits….
April 16
Unlike the PC firm, if a monopoly firm wishes to sell more output (i.e., increase Q), it must lowerBrand Associations and Their Impact on Business Value
1.6. Brand or Firm Associations. BV is a difficult key fact to measure in an economic way. This indicator reflects directly a ‘differentiation’ strategy built in the long term by Pull and Push actions, between direct competitors. So this is an intangible factor that affects directly on company or business consideration by the consumers. Two direct competitor companies can operate in the same business but be considered so differently by the consumer that it requires different positioning strategies
Read MoreEngineering Economics Fundamentals: Principles, Methods & Applications
Engineering Economics Fundamentals
Introduction
Engineering Economics is the science that deals with techniques of quantitative analysis useful for selecting a preferable alternative from several technically viable ones.
Four Fundamental Principles
The four fundamental principles that must be applied in all engineering economic decisions are:
- The time value of money
- Differential (incremental) cost and revenue
- Marginal cost and revenue
- The trade-off between risk and reward
Key Concepts
Ethics
Ethics: A set
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