PM&E Unit 4 Part 2 Long Answers

Project Financing By knowing the position of the threat and the impact it’ll have on the design, operation knows how stylish to intermediate if a pitfalls do. Treat the threat When the association has linked the pitfalls and ranked them is order of high to low, each threat needs to be excluded or contained a important as possible. 2 If an association gradationally formalizes its threat operation proces and develops a threat culture, it’ll come more adaptable in the face change. Que4.16. Explain ways for managing pitfalls in a design. 3. This is generally done by connecting with the experts in each departmen or field to which the threat belong, to bandy the threat and result is the crucial understanding how to exclude or contain the threat. Examiner and Review the threat There are some pitfalls that can not be fully excluded and threat operation is not commodity that has a launch and finish, or end result. It’s an ongoing process within a design that’s constantly changing The design, its terrain, and its pitfalls are constantly changing. the process should be constantly redefined. Answer 1. i 11 2 i 61 3. i ways for managing pitfalls in a design are given bele39/65 Brainstorming To begin the brainstorming process, we must assess the pitfalls that could impact the design. This starts with reviewing the design attestation, looking over major data and assignments learned from analogous systems, reading ove papers and organizational process means. Root Beget Analysis This is a fashion to help design members identify all the pitfalls that are bedded in the design itself. Conducting a root cause analysis shows the responsiveness of the platoon members in threat operation. It’s typically used once a problem arises so that the design memben can address the root cause of the issue and resolve it rather of just treating its symptoms. geek Analysis geek is an analysis to measure the strengths, sins, openings and pitfalls to a design. Fre Management & Entrepreneurship This tool can be used to identify pitfalls as well. The first step is to start with the strengths of the design. also platoon members need to list out all the sins and other spects of the design that could be bettered. There’s where the pitfalls of the design will surface. pportunities and pitfalls can also be used to identify positive caks and negative pitfalls independently. Risk Assessment Template for IT Anak assessment template is generally made for IT processes in an ganization, but it can be enforced in any design in the company This assessment gives a list of pitfalls in an orderly fashion. It’s a space where all the pitfalls can be collected in one place. This is helpful when it mes to project prosecution and tracking pitfalls that come res n 111 PV F VI 4. 1 13 The threat assessment template comes with numbers and probamlities TÉ av threat being, along with the impact it’ll have on the design. This way the design director and the platoon members are completely apprehensive of the otential detriment of any threat and the liability of it being 5 Probability and Impact Matrix L# D television 1 111 6. Risk Data Quality Assessment This system utilizes all the collected data for linked pitfalls and finds details about the pitfalls that could impact the design. 7. 1 design directors can also use the probability and impact mateix tn heis in prioritizing pitfalls grounded on the impact they will have. It helps with resource allocation for threat operation. This fashion is a combination of the procability scores and impact cores of individual pitfalls. after all the computations are over, the pitfalls are ranked grounded on how erious they’re.39/65 41 This fashion helps put the threat in environment with the pr creating plans for mollifying it. This helps design directors and platoon members understand the delicacy and quality of the threat grounded on the data collected. The data quality assessment is used to ameliorate the design director’s understanding of the pitfalls the design could face as well as collect all the information about the threat possible. By examining these parameters, design director can come up with an accurate assessment of the threat. friction and Trend Analysis It helps when design directors look for dissonances that live between the schedule of the design and cost and compare them with the factual results to see if they’re aligned or not. Step 3 Accrue overdue stipend Admit an expenditure for any stipend earned but not warhorse paid as of the end of the reporting period Step 4 Calculate deprecation Calculate deprecation and amortization expenditure for all fixed means in the account records. Step 5 Value Inventory Conduct an ending physical force count, or use an indispensable system to estimate the ending force balance. Use this information to decide the cost of goods vended, and record the quantum in the account records Step 6 Reconcile Bank Accounts Conduct bank conciliation, and produce journal entries to record all adaptations needed to match the account records to the bank statement. Step 7 Post Account Balances Post all attachment tally balances to the general tally. Step 8 Review Accounts Review the balance distance accounts, and use journal entries to acclimate account balances to match the supporting detail. Step 9 Review Financials publish a primary interpretation of the fiscal statements and review them for crimes. There will probably be several crimes, so produce journal entries to correct them, and publish the fiscal statements again. reprise until all crimes have been corrected. Step 10 Accrue Income levies Admit an income duty expenditure, grounded on the corrected income statement. Step 11 Close Accounts near all attachment checks for the period, and open them for the following reporting period Step 12 Issue fiscal Statements publish a final interpretation of the fiscal statements. Grounded on this information, write notes to accompany the statements. Eventually, prepare a cover letter that explains crucial points in the fiscal statements. also assemble this information into packets and distribute them to the standard list of donors. Que4.20. bandy the limitations of fiscal statements. Answer Limitations of fiscal statements are 1. fiscal Statements Are deduced from literal Costs. Management & Entrepreneurship Financial Statements Are Not Acclimated for Affectation. fiscal Statements Do Not Contain Impalpable Anseta. fiscal Statements Only Cover a Specific Period of Time. fiscal Statements May Not Be similar. fiscal Statements could be poisoned. fiscal Statements Do Not Cover Non- Financial Issues. fiscal Statements May Not Have Been vindicated. fiscal Statements Have No Prophetic Value trade Que4.21. What’s balance distance and what are its factors? What’s the significance of a balance distance? Halance wastes balance distance is a fiscal statement that reports a company’s means. lubilities, and shareholder equity. The balance distance is one of the three core fiscal statements that are used to estimate a business. It provides a shot of a company’s finances as of the date of publication. The balance distance adheres to an equation that equates means with the Sum of arrears and shareholder equity. Abecedarian judges use balance wastes to calculate fiscal rates. The balance distance adheres to the following account equation means arrears Shareholders’ Equity The three important factors of any balance distance are means This is a resource possessed by an reality to produce positive profitable value. arrears This provides a list of debts an reality owes to others. Capital or Equity This is the quantum invested by the shareholders significance of Balance distance It’s an important tool used by outlanders similar as investors, creditors, and other stakeholders to understand the fiscal health of an reality. It’s a tool to measure the growth of an reality. This can be done by comparing the balance distance of different times. It’s an essential document that must be submitted to the bank or investors to gain a business loan. 4 It helps stakeholders to understand the business performance and liquidity position of the reality

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