Assignment 3 – Case study 3

In this assignment, you will have to choose one project which cover either the finance management or risks management.
Before starting the assignment, read carefully the case study. You are required to consider the information given in the case study and to carry out the Activities or 留學生dissertation網respond to the questions. The assignment is limited to 500 words, there is no penalty for larger assignments.

PS: You may use Figures and tables, they are will be not counted in 500 words

Report
Prepare a report to show your responses to the above activity. The report should contain headings of: (Cover Sheet); Executive Summary; Introduction; Analysis, Comments; Conclusions. The report should not be around 500 words excluding pictures, graphs or Tables. There is no penalty for exceeding recommended word count.

Assessment
The report forms the basis of the assessment using the Learning Outcomes It is to be submitted electronically before 4.00pm on 13/03/2011.
This assignment constitutes 1/3 of 25% of the grade allocated to this module.

Timetable
Suggested Start 20/01/2011 Completion 13/03/2011.

The penalties for late submissions are as follows: “All assessments submitted late, but within 5 days of the deadline, will be given a maximum mark of 40%. Assessments submitted more than 2 weeks after the deadline will not be marked, and a mark of 0% will
be recorded.” Please be aware of the plagiarism regulations found in the Student Handbook and on the University Academic Regulations, available through the website. (http://www.uclan.ac.uk/information/services/sss/quality/regulations/files/aqa1_acaregs_app09.pdf ).

Project 1 – Earned Value Analysis

We are building a shed. The floor is budgeted at £200 while each side is budgeted at £100 and the roof is budgeted for £300. The plan is as follows: the floor will take 2 days to complete, each side will take 1 day to complete while the roof is expected to come in at 2 days. The floor gets done first, followed by each side and then the roof.

Actual work is done as follows, the floor takes 3 days to build and costs £300, and the first side takes 2 days and costs £150. Then you get on a roll. The next side 留學生dissertationcomes in according to project estimate – 1 day and costs only £50.

We are at the end of day 6, how does our project look?

Project 2 - Earned Value Analysis

You work for a company that manufactures high tech Wind Turbine equipment. You are the project manager responsible for the development of a new domestic type of turbines. The project life cycle is made up of the phases in the WBS below. Each control account plan (CAP) is planned to be completed one after the other. Today is the end of Month 5#p#分頁標題#e#

CAP Duration Budget
Requirements 1 months £ 20,000
CAD/FEM 1 month £ 20,000
Prototype 1 month £ 30,000
Manufacturing 2 months £ 60,000
Testing 1 months £ 20,000

Using the Project status chart below, calculate EV, etc, at the end of month 5

Task Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Status at end of Month 5
Requirements S-------F Complete, Spent £22,000
CAD/FEM S------F Complete, spend £ 19,500
Prototype PS-S-PF --F Complete, Spend £ 30,500
Manufacturing PS----S- -----PF 75% Complete, Spend £ 48,000
Testing Not Started

Base on your results. In this project what would you be most concerned with?
Schedule
Cost
Stakeholders Involvement
Quality

Project 3 – Going Global - Risk Analysis

Introduction
The Department of Foreign Affairs and International Trade (DFAIT) manages the Going Global Science and Technology Program (Going Global S&T program). The Treasury Board of Canada Secretariat approved the updated terms and conditions for contributions to this program on June 16, 2000. The objective of the Going http://www.400190.com/Thesis_Writing/Accounting_Assignment/Global S&T program is:
To assist Canadian researchers to identify and establish new collaborative research and development (R&D) initiatives with foreign partners.
Going Global S&T particularly seeks to support projects that establish mechanisms for exploring international R&D collaborative opportunities with major foreign partners or international programs. Emphasis is given to projects that build on Canada's S&T and foreign policy priorities, facilitate access of Canadian researchers to major international research networks, and help Canadian companies gain access to cutting edge research and technologies not available in Canada.
Developing a Risk Management Strategy
Step 1: Identifying Risks: Exercise
We are now going to examine a hypothetical scenario around one of the activities in the logic model: Process applications. After reviewing the description of the application process for Going Global you will progress through Step 1: Identifying Risks. This exercise provides you with the opportunity to sequentially apply the concept of risk management to a case study.
Description of Activity: Process Applications
Eligible beneficiaries are non-federal government researchers that require support to explore opportunities for collaborative international R&D projects. Its clients include Canadian companies, universities, other Canadian research institutes and government science-based departments and agencies. Approval of a project application follows discussions and a consensus between the two Deputy Directors and the Director of the (TBR) Science and Technology Division. A detailed Application, Review, and Approval Process Flowchart is used to assure that each application is treated in a fair and consistent manner. The assessment process specifically addresses project risk by completing background checks on foreign counterparts and analysing the situation of the country relevant to the application. Documentation of the assessment of a project and justification for approval decisions is kept on file. A Going Global S&T Records Management Guide is used to ensure that a complete file is kept by TBR for each application. The file includes: initial inquiries from potential applicants, initial recommendations, consultations, project evaluations and risk assessment, TBR memoranda providing justification and approving support, the final project report, and accounting records. #p#分頁標題#e#
The merit of each proposal is assessed against the following criteria:
proposal is supported by his/her institution;
potential effectiveness of the proposal based on the credibility of the methodology used, the people involved, and the detailed work plan proposed;
potential for establishing new and significant collaborative R&D projects with foreign counterparts;
potential to facilitate access of Canadian researchers to major international research networks;
demonstrate that the 50% of eligible expenses not covered by Going Global S&T will come from other sources (institutions involved in the project, funding organizations, partners, etc.)
demonstrate that sources of funding for subsequent stages of the project are being investigated (e.g., to cover the actual research costs);
potential to engage other Canadian participants in the project;
coherence with Canada's bilateral S&T agreements (France, Germany, Japan, Israel, and the European Union), or with Canadian research and development policies and priorities;
potential to help Canadian companies gain access to cutting edge research and technologies not available in Canada;
potential commercial benefits to Canada.
Emphasis is given to support projects that:
build on Canada's S&T and foreign policy priorities;
facilitate the access of Canadian researchers to major international research networks; and
assist Canadian companies to gain access to cutting edge research and technologies not available in Canada
Either the Director or one of the Deputy Directors documents approval for projects with the signing of an internal Project Authorization Form. This is followed by the signing of a Contribution Agreement with the applicant. These legally binding agreements detail the role of DFAIT, the amount of the contribution, project requirements, recipient obligations including reporting, payment schedules, an audit clause, and the signature of the Director or one of the Deputy Directors.
Identifying Risks: Questions
A. What might be some assumptions underlying the activity "Process Applications"? In other words, what things or conditions are being assumed in order to make this activity happen?
B. Consider the following hypothetical details with respect to the Going Global Case Study : A recent client survey found that potential applicants were experiencing considerable difficulty in obtaining funding from other sources. In addition, delays in application review and approval meant that approved applicants were unable to fully participate in the collaborative R&D project. Staffing limitations also resulted in insufficient time being allotted to the processing and monitoring of applicant files. Although Canada's profile in Science and Technology has improved significantly in recent years, some countries continue to view Canada as a poor international R&D partner.
Given these additional details, what assumptions underlying this activity might not hold true?#p#分頁標題#e#
What other approach could you choose?

Step 2: Conducting a Risk Analysis
Now that we have identified some hypothetical risks, we need to analyze which risks pose the greatest threat to the program. Remember that a risk assessment requires a good understanding of the current status of each risk in terms of what actions, if any, are currently being taken to address the risks.
In this exercise you will proceed through the components of a risk analysis from assessing the likelihood and impact of the risks through to the identification of which risks require a mitigation strategy. Return to Module 3 when you have completed this step.
Conducting a risk analysis: Questions
A. Identify an initial stage for conducting a risk analysis

B. Let's assess the likelihood and impact of the following risk: Weak international R&D profile (as identified in the first step). Consider the following information (Please note that details pertaining to the Going Global Initiative are not factual): Recently a number of measures have been taken to improve the R&D profile of Canada. In the 1990s Canada's R&D profile was weakened in part due to decreasing resources allocated to R&D. The federal government announced in 2001 that "it will pursue a global strategy for Canadian S&T, supporting more collaborative international research at the frontiers of knowledge". Statistics show that Canada's international collaboration is on the rise and that Canada's percentage of patents with foreign co-inventors has increased. Going Global promotes itself primarily through its website. Consultations with Going Global stakeholders revealed that Canada's R&D profile has improved in recent years. However, stakeholders felt that additional resources were needed to provide increased funding for collaborative R&D projects, and to promote and administer the program in order to further strengthen Canada's international R&D profile given the increasing pace of science and technology innovations in other countries. Despite concerns about Canada's profile, the number of suitable applicants has remained constant in the past few years.
Given the above situation, is there a low, medium, or high likelihood that the risk will be realized and become an actual problem?
Assess whether the impact of the risk is low, medium or high.

C. What would be the risk score in the event that you have assessed the risk as "unlikely" and the impact as "high". Click on the appropriate location in the risk matrix below.
Risk Matrix

The risk score is 6 (unlikely, high impact). The risk is deemed as a "judgmental boundary of risk" and should be further assessed to determine whether additional management efforts are required.
Risk Mitigation Strategy – Risk analysis
When a risk is assessed as "judgmental boundary", management has to decide whether it is cost-effective to take further actions to mitigate this risk. This decision will #p#分頁標題#e#http://www.400190.com/Thesis_Writing/Accounting_Assignment/also be based on the level of risk that management is willing to accept.
This exercise will develop a risk mitigation strategy for the risk: Weak international R&D profile.
A. What strategies might help to mitigate this risk?
B. What other kinds of information should be included in a risk mitigation strategy?

Monitoring Risks - Risk Analysis
Managers need to routinely monitor or review the status of risks.
A. What strategies could be used to monitor risks?

MP3703 Project Management

Assignment 3 – Case Study 3a – Feedback 1/2

Student Mark Allocated %
Learning Outcome Assessor’s Comments
Define, explain, discuss and critically appraise the Earn Value Analysis (Project 1 and 2)

Define, explain, discuss and critically appraise Risk management
(Project 3)

Overall
(Further comments overleaf.)

/100

MP3703 Project Management

Assignment 1 – Case Study 1 – Feedback 2/2

Knowledge and
Understanding Critical Analysis Application to synthesis / design
______%
Comments:

______%
Comments:

______%
Comments:

留學生dissertation網Evaluation and Conclusions Referencing / Supporting evidence Written Communication
______%
Comments:

______%
Comments:

______%
Comments: