Cost College Essays Samples For Students

1.0 Chapter 1 Introduction
1.1 Background and Rationale of the Research
The industry of construction is not only a key player in the national economic growth; but also a crucial sector affecting the economic and social welfare of citizenry, particularly in its primary function in providing reliable and decent shelter. It is viewed as one of the most essential sector to highly contribute to the growth of an entire economy at the provincial, national and international levels (Artto & Kujala, 2008). In the recent years, cost modelling and estimation for construction projects have attracted major attention of several research scholars. ...

Introduction

Today, large businesses are expanding with the help of the robotic technology in order to have full production in a short time. Businesses have to use different strategies to continuously grow such as introducing new products and services, modifying the existing products and so on. Also different strategies are used by businesses to get governmental contracts.
This paper is going to identify the best life cycle costing approach and the government approach of design changing. This report evaluates cost estimation methods; cost estimation relationship and engineered cost estimation. The purpose of this evaluation is to identify the most suitable ...

[Your Full Name]

Problem 1
Opportunity Cost
- Define the term “Opportunity Cost”
Opportunity cost is the value of the foregone mutually exclusive alternatives. When choice are to be made between several mutually exclusive alternatives in terms of decision making, opportunity cost is the value of alternative that is forgone due to selection of some other alternatives. Generally, opportunity cost is the value of next best alternative that can be achieved with same input. For example: George had $2 in his pocket which is enough to buy either a cup of tea or a cup of coffee. Among ...

Two distinct set of financial reports are used in managing a company, one made by Financial Accountants and the other by Managerial Accountants. These reports are aimed at the company’s external stakeholders such as investors and creditors and are prepared for each quarter and at the end of the financial year and. The format and content of these reports are laid down in laws such as the SOX (Sarbanes- Oxley) Act and in accounting regulations such as the GAAP (Generally Accepted Accounting Principles) and the IFRS (International Financial Reporting Standards). Financial reports become comparable across companies.
Managerial accounting ...

[Author]

Executive summary

In understanding cost and pricing dynamics in relation to profitability, at least four issues face the cost accountant in tracing product or service costs, the value of which will be used as an essential input in pricing decisions. These are complexity, accuracy, ease of estimation, and time. Joint cost allocation is an example of a complex cost tracing due to inevitable data gaps. Sunk costs exemplify a type of cost the accountants normally consider as marginal and, therefore, may be ignored in the cost trace. Opportunity costs also possess a unique characteristic in its “potentiality” by nature, although quantifiable based on ...

Standard costing and variance analysis

The standard cost is the predetermined cost that is carefully and definition. The estimated cost of the production of a single unit or the cost of different service performance is done (Rajasekaran & Lalitha, 2011). This is the narrow definition of the standard cost. The broad meaning of the standard cost is the estimated production cost that is involved in the projects, operation production and the administrative purposes. The standard costing uses the techniques that standardize the cost and the revenues. This is in the purpose of controlling the cost factors and the determinant through the variance analysis.
It is ...

Integrated Cost and Schedule Risk Analysis

Introduction
Over the years, the process of analyzing projects cost did not take into accounts an explicit reference or any reference to the project schedules and its risk. As organizations witnessed numerous risks in their projects implementation, a great emphasis on risk awareness and analysis was made. As a result, project managers created an integrated cost-schedule risk analysis to create the need of viewing the risk analysis as a crucial input when making key projects decisions (Hulett & Campbell, 2002).
In this paper, we explain important concepts on schedule risk and overall cost. The paper explains the importance of integration ...

Letter of memo transmittal

Re: Planning proposal
Here is my planning proposal for cost estimation in Tatweer Buildings Company. It contains a budget which I request that you help me to fund. If you have any questions on it, I’ll be ready to respond.

List of illustrations

Page 5: images for the Tatweer buildings Company
Page 9: table of schedule for the proposal
Page 11: table containing the proposal’s budget estimates
Abstract
In this planning proposal, the variables that identify with the cost estimations in the Tatweer Buildings Company are initially considered. After which, the possible issues that results from these cost estimations, how ...

Cover Letter

The purpose of this essay is to open the possibilities for alternative approach in healthcare reforms. The people in general rely on the benefits of healthcare insurance for a more affordable health maintenance option. However, the economics of healthcare pushes its cost to all-time high and pushes the financial limits of most average policyholders. Therefore, it is reasonable to introduce a different approach, which relies on health risk prevention through healthy eating.
Writing this paper brought me to a level of realization that there is hope for something that most people thought was absolute. People though that in order to make ...

Introduction

Price represents one of the primary determinants for successful revenue and profit generation for virtually any company operating in any industry. Airline companies operating within their domestic or international markets are no exception in this regard. It is ultimately the pricing strategy that each company choses to employ that will determine the competitive position of the airline carrier within its industry, as well as its ability to attract customers.
The Airline industry has experienced significant change over the last few years, particularly in the years following the September 11th terrorist attacks of targets in the United States in ...

Abstract

Market structure refers to the interaction between various buyers and sellers. Different market structures have different characteristics. The characteristics of the market structure determine the realized outcomes. There are three main market structure: perfect competition, oligopoly, and monopoly. Perfect competition has many sellers. Therefore, they do not have any market power. They cannot influence market outcomes. An oligopoly has few firms with some market power. They can influence the outcomes. Monopoly comprises of only one firm with absolute market power. Therefore, it can influence the realized outcomes. This paper highlights the characteristics of the various market structures. It then ...

Critical Study of Standard Costing and Variance Analysis

Standard costing is a method of developing cost standards of the whole or part of business activities so as to set particular cost estimates which can be later compared with the actual costs that have been used. The variations are then investigated and used to identify loop holes within the organization. The standard costs may then be changed periodically depending on current prevailing costs so as to reconcile them with actual costs. The main reason standard costing is used is to approximate the costs that will be used in a period so as to make it easier to draw a budget. The ...

Introduction

Space Age Furniture Company produces two major products, Gemini TV stand and Saturn Microwave stand. However, both of these products require a single common product, 3079. This material can only be produced on one machine and only one machinist knows how to operate it. This is one issue that results in frequent overtime for the machinist. Additionally, this material (3079) is used in both the subassemblies for Gemini TV stand and Saturn microwave stand. The major problem with the subassembly is that the minimum lot size is 1000 for both the subassemblies. Higher lot size is increasing the inventory ...

Business Plan

Executive Summary 3
1.0 Introduction 4
2.0 Operations plan 5
2.1 Location and facilities 5
2.2 Business processes 6
2.3 Distribution and outsourcing 9
3.0 Organizational plan 10
3.1 Management 11
3.2 Mission 12
3.3 Purpose 13
3.4 Vision 13
3.5 Legal structure 13
3.6 Organizational chart 14
4.0 Marketing plan 16
4.1 Price 16
4.2 Product 17
4.3 Place 19
4.4 Promotion 20
5.0 Financial plan 21
6.0 Growth plan 22
7.0 Contingency and harvest strategy 23
8.0 Timeline to launch the plan 25
9.0 References 28
10.0 Appendices 29

Executive summary

Don’t we all enjoy the experience of ...

Introduction

Knowing the market is very important for a firm as it has to base its policies and profit maximizing decisions based on the market characteristics. In a perfectly competitive market the firms follow the price determines by the industry. On the other hand a monopolist sets the price and quantity based on the profit maximizing conditions. The monopolist earns higher profit than the firm under a competitive sitation. In a monopolistic competition the firms have to innovate so that the products can be differentiated from the products of the consumer. The oligopoly form of market is characterized by the ...

Introduction

Traditional and well-known manufacturing companies often struggle to implement newer process changes and manufacturing practices in business. Economic order quantity was a popular concept in the early part of 20th century. Almost all companies then used economic order quantity purchasing policy. Most of the companies probably benefitted from implementing economic order quantity (EOQ), but some failed as it was not relevant for the product type and industry. In the later part of 20th century, many new manufacturing process techniques came into limelight. Just in Time system, Toyota Production System, Theory of Constraints, MRP and ERP systems, TPM, Lean manufacturing and ...

According to Agrawal, 2010,

Total cost = fixed cost + variable cost
Total cost = $2,500,000
Fixed cost = $800,000
Hence, Variable cost = $(2,500,000 – 800,000) = $1,700,000
But a total of 250,000 units were produced, hence variable cost per unit = $ (1,700,000/25,000) = $68
Contribution margin = (100 – 68) / 100 X 100% = 32%

Converted Variable Costing Approach

Division Income Statement
For 1st Quarter ending 31/9/2013
Production units = 25,000 units

Sales 2,500,000

Variable cost (25,000*68) 1,700,000
Contribution margin 800,000
Fixed cost (800,000)
Net profit 0
Absorption Costing Approach
...

Abstract

This work begins with a brief introduction of the Ski Pro Corporation’s ability to make or buy the bindings. Computations to determine whether the company should buy or make the bindings then follow. As a matter of fact, cost incurred when making the 10,000 skis without the avoidable cost is worked out. Also, avoidable cost of producing one pair of the bindings is computed so that a comparison of the cost of production can be established. The paper then highlights the maximum purchase price acceptable to the Ski Pro Corporation for the bindings. It ends with qualitative factors that the ...

Counter Argument: America is a diverse nation, which has built itself up through various struggles and valor. People of America need to have best of the resources as the land of dreams promises it, and government cannot let jobs to be outsourced to other nations. There should be more job opportunities American citizens inside the country at current prices rather than being outsourced to Asian countries, and then only, America can compete with China. There should be encouragement for American industry and more buyouts be introduced by the government to uplift it better performance. However, this whole function does not ...

Identify a set of metrics for each of the following categories: 1) time, 2) service quality, 3) cost. Explain what each metric involves and how it is measured. There should be 5-10 metrics for each of the three categories.

Metrics under the time category:

Order Fulfillment Cycle Time: It is the consistently achieved average cycle time that is spent to fulfill the customer orders. The cycle time is calculated from the start of the order receipt till the end, which happens when the customer accepts the order.
The time that is calculated from the time that a customer places an order to the time ...

Patient Advantage. (2009). Proposal for a pilot study to identify cost saving measures in management of muskuloskeletal conditions. Patient Advantage.

The proposal gives details the methodology, objectives and expected outcomes of a pilot project aimed at identifying the opportunities for saving cost in the management of musculoskeletal problems, with a particular focus on myofascial pain. The literature reviewed in the proposal identifies myofascial pain as a major underlying factor in many cases of chronic musculoskeletal pain and yet it is grossly under diagnosed and under treated. This justifies the need for the study using the action research modality. The proposal identifies different methods used to measure the cost of healthcare which include direct costs, indirect costs, claims cost and goes on to ...

Being different from the tradition costing techniques, ABC costing requires a rigorous fact finding mission regarding the operations of the company. The below are the main steps in ensuring a fully operational and effective ABC.
1. Identification and classification of activities that are related to the company’s products.
The area under scrutiny will be every bit of the value chain, for example production, product design. Marketing, and distribution.
A summary of all activities that sum up the production as well as selling of the produce is prepared. To ensure accuracy in the information gathered, processes like interviewing ...

1. Introduction
Marketing refers to the set of all the strategies utilized for the purpose of promoting or selling the services of any company. It always plays a key role in the success of all types of small, medium and large sizes of businesses. And, without the shadow of any doubt, the success of a marketing strategy heavily depends on how well it is planned and implemented, and how accurately it addresses the needs of the target audience for a business (Kotler & Armstrong, 2006).The current paper aims to analyze the marketing strategy of two different airline companies i.e. ...

Introduction

Report’s aim
Comprehensive analysis of a company is crucial for decision making regarding its inclusion in a portfolio. That requires forecasting a company’s performance to estimate the expected value of the stock and comparing it with the current market price so as to decide whether it is overvalued or undervalued. In that view, this analysis seeks to analyze the IMB Company with application of the Discounted Cash Flows method as well as WACC. With the values calculated, the value per share is compared with the current market price to make recommendations whether the stock is a buy, ...

Cost & Profit

1. Give a brief summary of economic costs (i.e. how are they different from accounting costs). In the short-run, why might a firm still operate even when there is a loss.

Accounting cost is the explicit monetary value of resources, which have been used in performing a particular activity. It is the historical cost, which is usually reflected in the accounting statements. Accounting costs are very useful in evaluating past performance of a company and in comparing companies within an industry. However, accounting costs are not sufficient for strategic decision-making, since they do not take into consideration the cost of the alternative solutions, which ...

1.Costing is a very important part of accounting. It involves the basic financial data which will help in price fixing as well as in profit marking. There are many aspects to costing and each one is relevant depending on the product or service provided by the owner. Relevant costing is an important aspect in costing and accounting decisions. A relevant cost is the cost which is specific to a management decision. This generates only the information which is necessary for decision making and removes the unnecessary extraneous information. Relevant cost is only specific and limited to a particular decision ...

1. Plan for the assessment of Market structure Effectiveness for Operations of the Company.
It can be easily asserted that the performance of the company as well as the market scenario changes whenever there are changes in the demand for a certain product over a period of time. It was observed that there is increasing trend in demand for microwave category. With the pressure and increase in complexity of individual lives and their living standards, the attitude and perception of people towards microwave food seems to be favorable. Such microwave food is also increasingly demanded as a result of ...

2017-01-05

Five-Force Analysis 3
Key Success Factors of the Company 4
SWOT-analysis 5
Recommendations 6
III. Conclusion 7

Introduction

This paper is devoted to the strategic analysis of the company Ryanair. It is an Irish low cost airline that is well-known in Europe. This company operates since 1985 and offers flights to around twenty seven different countries. There are no any incidents that could be associated with human victims during the whole company’s activity.
Ryanair has become a truly budget airline in the 1990s. It has abandoned the business class, expensive airports and long-distance flights. As a result, in 1995 ...

Paper Outline

The objective with this paper is being written is to provide a comprehensive discussion for IAS 16-Plant, Property and Equipment and IAS 40-Investment Property. It is considerable that many a times, be it academicians or nascent professionals, appropriate accounting for property under the provision of IAS has always been the source of confusion. Therefore, this project will detail all the major provisions under IAS 16 and IAS 40 and how each of them differs from each other.
As part of this paper, we will first individually detail both the accounting standards and will then illustrate the differences using appropriate ...

Introduction

The report is intended to conduct the critical analysis of the management decision making process to identify and explore the sources of the information and data for the decision making and what tools and techniques can be used by the management to make decisions. For this purpose, the report is going to analyze the issues in the context of the case of WM Pressings Company and OIL project.
WM Pressing Company is a company that manufactures pressed steel and parts of aluminum for the companies exist in the automotive industry. The company has faced the poor quality performance as ...

Health care cost inflation remains a big challenge to the United States healthcare sector despite numerous efforts by the government to reduce the cost of health care. Financial experts have introduced different strategies aimed at offering solutions to the problem such as introducing new models of care delivery, cost sharing, and payment system reforms but neither has proved to slow down health care cost inflation. The purpose of this paper is to discuss the issue of health care cost inflation by focusing on the history of health care cost, factors influencing the increase in health care costs, and the role ...

Environmental Economics Exam

Question One

The laws of thermodynamics

The increasing need for environmental consideration and conservation has been a subject in debates and has received equally varied interpretations from many an environmentalist. Of particular significance is the importance of the laws of thermodynamics in environmental economics, environmental policy planning, and policy design. In this era of increased environmental degradation characterized by severe human activities and implications to the environment, it becomes crucial to apply the principles of thermodynamics in studying the different interactions between natural systems and the interaction of technology in the environment. The First and Second thermodynamic laws formed the ...

1.0 Without putting the figures you cited into a spreadsheet, it is quick to appreciate the fact that the medical costs of obesity is clearly higher than the cost of implementing the research project. The net obesity cost (NOC)-to-project implementation cost (PIC) ratio of 10.2 [$1,429 / $140] is convincingly high. A patient’s annual savings from obesity cost can virtually finance this project implementation estimate.
However, it is unclear to us if the cost of implementing the proposed exercise prescription protocol (EPP) or the actual implementation of EPP by the patient, using the necessary equipment and ...

Depreciation can be described as a reduction in value of a given asset because of many factors. These factors include decay, rust, depletion technological outdating, usage, wear and tear, passage of time, inadequacy or any other such factors. Facility capital cost of money, on the other hand, is the imputed value that indicates the contractor`s cost of employing capital on investing in assets of facilities under construction that benefit the government. In other words, we can say plant capital cost is the accrued cost of investing in an asset while depreciation is the drop in value on this asset over ...

Introduction

The desire for shopping organic fruits and vegetables verses those that were produced traditionally was among other propelling factors that gave birth to ACME Marketing and Consulting by MR. Frederick Nelson a retired government employee. The firm growth and establishment was based on the shopping interests where Frederick and his wife growing pricing and marketing analysis based on the two options led to the need to explore the preceding objectives in reference to the local farmers and distributors; develop a common ground where farmers and the distributors share information, to achieve this he enacted strategies where organic farmers and producers operate ...

Abstract

This paper seeks to explore the relationship between the cost of capital and voluntary disclosures. The paper outlines the benefits of voluntary disclosure to firms, investors and the general economy and how these benefits are weighed. It describes the categories of voluntary disclosures and the factors considered in disclosure decisions. The paper will explain the term disclosure friction and there after show how this factor affects cost of capital. It also investigates the association between the risk related discount and the voluntary disclosure. The two equilibriums i.e. overinvestment equilibrium and the underinvestment equilibrium and how they are brought about ...

About the report

The report is commissioned to ascertain the financial viability of the capital project being considered by North Sea Oil. As part of this project, we will calculate the Net Present Value(NPV) and Internal Rate of Return(IRR) of the projects under two different set of cost of capital, and will comment as how the change in capital structure will affect the shareholders accordingly. The eventual purpose here is to come up with a prudent recommendation for the company as which project will be more profitable for the company and what proportion of capital structure will be more viable ...

[Writer Nаme]
[Supervisor Nаme]
[Dаte]

Overview of Sharon construction company
The Sharon Construction company was given the contract to construct a stadium with 20,000 seats in it. The construction was supposed to commence on 15th February and was expected to take one year to complete. The contract contained a clause of penalty, which stated that any delay of one week further ahead of 15th February of next year will cause a penalty of US$ 15,000 per week. Jim Brown was the president of the company. He called a meeting to plan the project management schedule ...

Computation of Variable and Fixed Cost Elements

For performing the managerial accounting analysis to compute the variable and fixed cost elements by using a high-low method, the following table is considered which reveals that the actual quantity of units produced and the total cost incurred to produce them:
Variable Cost per Unit = Change in the total cost of the two production activities

Change in the total production activity

Variable Cost per Unit = Total Cost Higher Activity - Total Cost Lower Activity

Units Produced Higher Activity - Units Produced Lower Activity

= ($14,940 - $11,200) / (10,000 - 7,100) = $3,740 / 2,900
Variable Cost per Unit = $1.289 per unit

Total Fixed Cost is calculated as follows:

Total Cost Higher Activity – (Variable cost per ...

Commercial Plane Company limited

Cost statement/ unit
‘Millions’ ‘millions’
Selling price 105
Less:
Variable cost ( 90)
Contribution 15
Break-even point refers to the point whereby the total sales or revenue of a company are equal to the company’s costs incurred on the units sold. The break-even point can be calculated in terms of the number of units that require to be sold in order to cover the sales value required as well as being represented in terms of sales or revenue value based on the currency of the country where the transaction is taking place.
Breakeven ...

Introduction

The field of finance is a broad one and it applies with different aspects in particular. It is required to apply numerous concepts that come under the ambit of financial management and accounting based stances. Among these concepts, the name of Cost of Capital is one of them
Organizations use different analytical methods to analyze the cost of capital in particular and among these methods the name of Pure Play Method (PPM) is one of them, which has its own significance and importance lies in a broad nutshell. The main theme of this assignment is to analyze the Cost of ...

MANAGEMENT ACCOUNTING QUESTIONS

Question 1
The entity charged with the design and development of the activity based costing system is the company’s a person who possess a host of leadership abilities and prior knowledge of ABC technology most probably a person from the company’s accounting department . This individual would be charged with the role of coming up with the most effective costing system that can significantly boost the company’s drive towards the achievement of its objectives. The person selected should however have the maximum to have the support of the top managers, line managers and the entire staff of the company. ...

Facets about the Products

There are a lot of software solutions for companies and firms who want to make a difference in the construction and building industry. Among those great software solutions, Build Soft and Cost X seem to be one of the top contenders and that’s why we are going to see what their strengths and weaknesses are.

First on the line is Exactal’s premiere software, Cost X. One of the greatest features you could expect from this product is that it enables its users to easily make 2-dimensional measurements without requiring CAD software products. It is also known for its compatibility ...

Introduction

The pricing strategy should be an integral part of decisions in the marketing position, and it should depend on the overall development strategy of the business and marketing plans. Therefore, companies should not set one price but a pricing structure that should reflect on the variations in geographical demand, costs, the timing of purchase, requirement of market segments, order levels, the frequency of delivery, and service of contracts.

Why different pricing strategies are appropriate in some circumstances

Pricing is an important managerial decision, and most firms do not encounter pricing decisions in major ways on daily operations (Weygandt, Kimmel and Kieso, 2009, pp.59). However, there is a need ...

Introduction

The airline industry has been in flux for many years, with many airlines operating on a loss. The cost of operating an airline company is quite high, and there have been a plethora of studies done on how best to maximize profits within the airline industry without sacrificing profits (Jiang 2013). However, despite all the studies, there has been little consensus: one airline that has become quite successful with their current business model, however, is AirAsia (Ahmad 2010).
AirAsia is a company based in Malaysia, which lauds itself as a low-cost carrier (Lim, Mohamed, and Ariffin n.d.). According to ...

Introduction

Accounting and finance are two different things and most of the people have been regarded them as similar things. Accounting is the name to record the day to day transaction of a company, while finance is the name of utilizing the funds of an organization at a place from where the likelihood of earning would be on a higher place. The concept of accounting and finance is totally different with each other but most of the people regarded both of them as single and identical one. Accounting is the name of to record the day to day transaction of a company, while finance ...

Describe and provide specific examples of direct and indirect costs. Describe the importance of using appropriate drivers for allocating indirect costs. What is the risk of using an inappropriate driver when allocating costs? What is the potential impact of various cost allocation methods on employee motivation?
There are two kinds of costs in the manufacturing which are classified on the base whether they attribute to the production or not. Direct costs refer to those costs which are directly linked to the object in production which is known as the cost object. cost object can be any project, product ...

Abstract

This paper seeks to explore the relationship between the cost of capital and voluntary disclosures. The paper outlines the benefits of voluntary disclosure to firms, investors and the general economy and how these benefits are weighed. It describes the categories of voluntary disclosures and the factors considered in disclosure decisions. The paper will explain the term disclosure friction and there after show how this factor affects cost of capital. It also investigates the association between the risk related discount and the voluntary disclosure. The two equilibriums i.e. overinvestment equilibrium and the underinvestment equilibrium and how they are brought about ...

In 2013, 37,542 people in the United States died from a drug overdose (Drugabuse.gov n.p.). While some of these were purposeful overdoses, many were not. This illustrates a problem we have had in our country for a long time, and have made little head way in improving. If anything, the issue has gotten worse as the abuse of pharmaceuticals has become a major issue. Almost any one of us could be asked, and be able to tell about a personal experience with someone suffering from drug addiction. The abuse of drugs is a prevalent issue in our society and it is important we understand ...

Executive Summary

Most businesses when starting are very successful and make very large profits in a competitive business environment. After a while, these businesses end up failing within a very short time of their existence in the market. Most of the reasons are not external factors but internal factors. The most commonly cause of failure to this business that start successfully and end up failing is poor cost management. Managers in this kind of businesses only focus on the financial reports in their decision-making and strategic plans of the business. These particular managers fail to understand that financial reports are always historical data that ...

Introduction . 3

Overview of Company. 5
Activity Based Costing 6
Standard Costing .. 9

Future Projects . 10

Summary and Conclusion 11
Reference .. 13
Introduction
It has always been the objective of the firm to encourage cost minimization as possible so as to enjoy the benefits of increased profitability which is the ultimate goal of many organizations. However, it is also prudent to note that these organizations would be required to make a choice of the most efficient costing methods to be adopted in the organizations business operations. Hence, the study shall undertake an in depth research so as to ...

Light bulbs:

The probable cost structure of light bulbs is as follow (Apte, Maglaras, and Pinedo, 2008):
Item cost:
Light bulbs are purchased in bulk quantity because it has a small packaging and do not have an expiry date so it can be stored for a longer period as well.

Carrying cost:

It has a high carrying cost because of the bulk purchasing it need space to get store or placed for a long period until it gets to sell.

Ordering cost:

It has one time ordering cost in a month because it is in bulk quantity so it is delivered by the truck for once in a ...

Introduction

The success of this project is dependent upon getting the appropriate engineering proficiency. The selection of the most competent engineers for the project is the only surety for economical, well designed and planned project that in the end is successful.

The apex of the triangle is the start of the project lifecycle. It also represents small costs. The first triangle represents engineering. It represents 1-3%. The second section of the triangle represents construction 6-19%. The last part of the triangle represents the operations and maintenance 80-94%. It is also the base, the end of the project lifecycle. It also ...

Introduction

The Queuing theory is the study of waiting lines and has many applications in the real world. Since Waiting lines are seen everywhere in day to day life and business, the theory has become an important part of operations research. Examples of waiting lines are queues at a fast food takeaway or cars waiting to be repaired or patients waiting their turn at a clinic. Analytical models of waiting lines can be used for ascertaining and evaluating the cost and effectiveness of the model used in a given situation or setting. The present paper illustrates one of the queuing ...

Inventory Costs

Introduction
Production can be described as a flow concept, which measures the volume of output per unit of time. The efficiency of production refers to the proportion of total resource content that can be transformed into a product that can be sold to the market. There are a number of ways that can be used to improve the efficiency of production techniques that are used by the firm. These strategies are either qualitative or quantitative in nature. They are the subject of discussion in this report.

Raw materials refer to the inputs used in developing the final product. They are the ...

1. The Cost of Capital
1.1 Relationship between the Cost of Capital and Hurdle Rates
The cost of capital is an expected rate of return on the investment. It helps define if the investment is worthwhile. The expected return on investment is supposed to be greater than the cost of the capital. It can also be described as the risk-adjusted return on capital. The cost of the capital consists of two parts: the cost of debt and the cost of equity. The cost of the capital is often used as a discount rate when calculating the projected cash ...

Impacts of Telemedicine

Impacts of Telemedicine
The continued research and use of technology in medicine have seen the growth of telemedicine where the use of telecommunication helps to share information on healthcare. This approach has had several impacts on the operations and patient satisfaction from the use of telemedicine. This literature review intends to demonstrate some of the specific impacts that telemedicine has had on the healthcare practice. Some of the impacts to be addressed include the cost of healthcare, the quality and access to healthcare by the patients. The analysis seeks to demonstrate how the three aspects have changed with the ...

1. Plan for the assessment of Market structure Effectiveness for Operations of the Company.
When there is a fluctuation in the demand for a certain product from one year to the other, we should understand that market and Company performance are changing. There can be observed a decent increasing trend for the products in the microwave category. The complexity of individual lives is increasing and as a result, the perception towards microwave food items is favorable. The savings in time and the wide range of choices could be taken as the main reasons for these types of goods selection. ...

Part 1

In April 1999 The National Institute for Health and Clinical Excellence (NICE) was built as a Special Health Authority to advocate and further the clinical quality and effectiveness of the resources in the NHS. NICE is an independent organization in charge for stipulating national guidance on the advocacy for good health, prevention and medication of illnesses (Chidgey, Leng, & Lacey, 2010). NICE has given a set of guides for the users of National Health Services to follow. The responsibility of NICE is to improve outcomes for people utilizing NHS and other public health services (NICE, 2013). The coverage of the organizations functions ...

Introduction

Gone are those days when supply chain played an insignificant role in any business. Most of the products were manufactured locally and sold in the local market. During that era of business, making the manufacturing process more effective, efficient and flexible was the primary goal of the business houses. From the first decade of 20th century till up to the 1980s, manufacturing process streamlining through initiatives like Kaizen, Kanban, Six Sigma, and TPM played a big role in the business (Choi, 2012). In the 1980s after the advent of globalization, the way a company produced and sold its product went through a ...