Project management is the discipline of planning, organizing, and managing resources that would cause the successful completion of specific project goals and objectives. It is sometimes conflated with program management. Regardless, a program is technically a higher level construct. Any group of related and somehow interdependent projects is key to product management.
A project is a temporary attempt. With a defined start and finish, typically reserved to a specified date, these can be by funding or deliverables, undertaken to meet unique goals and objectives, usually to bring about beneficial change or added value. The temporary nature of projects stands in contrast to business as usual or operations, which are repetitive, permanent or semi-permanent functional work to produce products or repairs. Essentially, the management of these two systems is often found to be quite different, and as such requires the development of distinct technical skills and the adoption of separate management.
The primary challenge of project management is to achieve all of the project goals and objectives while honoring the preconceived project constraints. Typical constraints are scope, time, and budget. The next and more ambitious challenge requires the optimization of the allocation and integration of inputs necessary to meet pre-defined objectives. (Nokes)
Pricing objectives grant direction to the entire pricing operation. The first step in pricing concerns acknowledgement of these objectives. Here are guidelines to follow when choosing which pricing objectives to consider:
The overall financial, marketing, and strategic objectives of the company;
The objectives of your product or brand;
Consumer price elasticity and price points; and the resources available.
Many of the more common pricing objectives focus on maximizing long-run profit or maximizing short-run profit; increasing sales or increasing sale volume / quantity; increasing monetary sales or expanding market shares; obtain a target rate of return on investment (ROI); obtain a target rate of return on sales; stabilize market or stabilize market price. An objective to stabilize price means that the marketing manager attempts to keep prices stable in the marketplace and to compete on non-price considerations. Stabilization of margin is basically a cost-plus approach in which the manager attempts to maintain the same margin regardless of changes in cost.
Depreciation involves the expense generated by an asset; the wear and tear of an asset or decrease of the set value due to usage; the cost of the asset less any salvage value over its estimated useful life; or even an expense that has been matched against the revenue generated through the use of the same asset. Typically, since it is regarded as the cost of an asset absorbed over its useful life, patterns of depreciation are spread over the economically useful life of an asset.
Without fail, depreciation is charged against the revenue created by the use of the asset. Any method of depreciation espoused will be estimated by management wen delegating an abnormalities of the business, prevailing economic condition of the assets, and existing accounting guideline and principles as implied in the organizational policies. Not all fixed assets, however, depreciate in yearly value. Property, by way of illustration, will often increase and decrease in value, then increase and decrease again, according to current local, state, or even national real-estate conditions.
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SWOT analysis is a strategic planning method used to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieve that objective. The technique is credited to Albert Humphrey, who led a convention at Stanford University in the 1960s and 1970s using data from Fortune 500 companies.
A SWOT analysis may be incorporated into the strategic planning model. A SWOT analysis should be defined by the start and finish. Attributes of the person or company that assist in achieving all objectives. However, attributes of the person or company may also be harmful to achieving any objectives. External conditions that are helpful to achieving the objectives create opportunities. External conditions which could do damage to the objectives may pose a threat and should be consciously monitored. Identification of SWOTs are essential because