Application And Application Of Knowledge Management

Knowledge management is the end-to-end continuous process that describes the systematic creation, acquisition, integration, distribution, application and archiving of knowledge to drive behavior and actions which support organizational objectives and mission accomplishment. Knowledge management captures both existing and newly created information and knowledge, stores it in an enterprise knowledge base through which information can be distributed, shared and accessed by the officers to support both learning when and where needed and the application of knowledge and skills to perform assigned tasks and solve problems. Officers need to be more creative and innovative to solve tomorrow s problems. Therefore, access to a dynamic knowledge base will provide closer integration between training and operations. Air force knowledge management system will be revolutionary, leveraging existing efforts and rapid technological advancements. With the development of the AFNET, The EAF has a unique opportunity to leverage new technologies to advance the knowledge management concept. This can serve as a potential platform for the delivery of services supporting future learning systems and the distribution and application of knowledge. As the culture of learning is instituted in the organization, it would be easier to master the cognitive domain. The requirement is not only to train the way we fight but to fight the way we train using the same knowledge databases, networks and technologies.Show MoreRelatedProject Management : An Application Of Knowledge2087 Words   |  9 Pagesgood or service with a defined beginning and end and also performed to meet unique goals and objectives in order to bring up desired beneficial change. Project management is therefore defined as an application of knowledge or skills or techniques to project activities in order to accomplish the established requirements. 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Sometimes in large scale projects a number of managers may cover many different operations and report to an overall project manager.Read MoreApplication Of The Knowledge Management System2383 Words   |  10 Pagesâ€Æ' Abstract The purpose of the Knowledge Management System (KMS) is to collect, interpret and share the knowledge between the stakeholders of any community or organization. The very first thing KMS is the development of the knowledge which comes from learning, innovation, creativity and importation from the outside of any environment where KMS needs to be applied. A similar activity had been done by Celemi International AB; a service provider for the change management, when they developed a monitoringRead MoreThe Application of Knowledge Management in Process Performance in an Organization 762 Words   |  4 PagesThis paper discover about application of knowledge management in process performance in organization. An experience of applying technology of appropriate results in improving operational management is important. In order to measure the success of process performance consistently, the organization have to use different features in each knowledge management presentation. They have to ch ange the practices to be more responsive so some improvements of the process are require, which focus on quality,Read MoreApplication of Knowledge in the Field of Human Resource Management2341 Words   |  9 Pagesï » ¿Application of Knowledge in HRM Field: The basic function of the field of Human Resource Management is to enhance the effectiveness and contribution of workers in the achievement of organizational goals and objectives. In every organization, there are various important departments with the most crucial one being the human resource department that deals with the organizations employees in relation to their skills, talents, knowledge, aptitude, and creative abilities. Generally, human resourcesRead MoreProject Management : Application Of Knowledge, Skills And Techniques Essay8491 Words   |  34 Pages CHAPTER TWO LITERATURE REVIEW 2.1 INTRODUCTION The first chapter introduced the research problem that raised the question of whether project management methodologies can be tailored down to Nigerian SMEs. This chapter presents the academic literature pertinent tothe research, and places it in context of the research. The significance of literature review is to show the summary of previous research works, which are related to a researcher’s present study. It also allows the researcher to compareRead MoreProject Management : Application Of Knowledge, Skills, Tools And Techniques885 Words   |  4 Pages EMEN 5030 PROJECT MANAGEMENT JOURNAL Pavani Potluri Graduate Student Interdisciplinary Telecom Program TABLE OF CONTENTS 1. INTRODUCTION 3 2. PROJECT MANAGEMENT STRATEGIC PLANNING 5 3. THE PROJECT MANAGER 7 4. PROJECT ORGANISATION AND PROJECT TEAMS 9 5. COMMUNICATION AND STAKEHOLDER MANAGEMENT 11 6. CONFLICT AND NEGOTIATION 13 REFERENCES 14 1. INTRODUCTION Project Management is not limited to a particular sector of the industryRead MoreProject Management : Application Of Knowledge, Skills, Tools, And Methods1493 Words   |  6 Pagesaccording specification. Project management is a method and a set of techniques based on the accepted principles of management used for planning, estimating, and controlling work activities to reach a desired end result on time- within budget and according to specification (Wysocki, R.K. 2007). Project management is the application of knowledge, skills, tools, and techniques to project activities in order to meet project requirements (PMI, Project Management Body of Knowledge (PMBOK Guide), 2000, p. 6)Read MoreApplication Of Knowledge Management At Ho Chi City2462 Words   |  10 Pages and Digital Media Mobile Marketing 1.0 JOB DESCRIPTION THE organisation’s business plans, business goals, policies and procedures 1.1 Job description – Knowledge Management (KM) KM department (KMD) is a small group located in the head office. Its functions are to collect, manage and develop all the data, information and knowledge of the organization which will be used to archive more proficiency and effectiveness for the future projects. The job description of KMD’s employees is describedRead MoreApplication Of Knowledge Management At Ho Chi City2128 Words   |  9 Pagesand Digital Media Mobile Marketing 1.0 JOB DESCRIPTION THE ORGANISATION’S BUSINESS PLANS, BUSINESS GOALS, POLICIES AND PROCEDURES 1.1 Job description – Knowledge Management (KM) KM department (KMD) is a small group located in the head office. Its functions are to collect, manage and develop all the data, information and knowledge of the organization which will be used to archive more proficiency and effectiveness for the future projects. The job description of KMD’s employees is described

Potential Merger Essay Example Pdf - Free Essay Example

Sample details Pages: 9 Words: 2686 Downloads: 1 Date added: 2017/06/26 Category Business Essay Type Review Level High school Did you like this example? Introduction In todays fast-paced business environment, mergers have become a common strategic initiative for organisations (Volberda et al., 2011). Mergers are projected to be based on shareholders proposition or creating value for them, however, it is argued that the decision is initiated by the management (Wolfgang, 2008). The motive may be different for firms in different situations. Don’t waste time! Our writers will create an original "Potential Merger Essay Example Pdf" essay for you Create order For some organisations it may be to survive in the industry by combining with a more established player in the industry (McCarthy and Weitzel, 2013), while for others it may be a strategy to compete better by achieving higher growth (Johnson et al., 2014). A recent merger proposition between bookmaking giants Ladbrokes and Coral became the limelight of the public attention (Kleinman, 2015), whereby the various reasons for the merger were highlighted, followed by two-sided opinions about them. On one hand, media updates depict the potential of greater market power (Farrell, 2015), higher financial benefits (Hall, 2015), faster online growth (GalaCoral, 2015), increased international presence (Schram, 2015) and strong position in the regulatory environment (Maidment, 2015); while on the other, analysts criticize the decision by pinpointing the probability of store closures and job losses (Wood, 2015), loss in share price and dividend yield (Head, 2015), unfit skills set for online g rowth (Nimmo, 2015) and uncertainty about decision confirmation (Martin, 2015b). With such mixed viewpoints, Ladbrokes Coral must take appropriate steps to ensure the success of the combined entity both in the short run and long run. Reasons for the Merger Greater Market Power The most important reason behind the merger intention between Ladbrokes and Coral seems to be their aspiration to gain the market leadership position, i.e. they want to create a new entity which would be the largest bookmaker in the UK (Farrell, 2015). The new entity would have a total of 4000 shops (Rojas, 2015) surpassing the current market leader William Hill, which has only 2400 (Aglionby, 2015). Volberda et al. (2011) identify this as the principal reason underpinning most merger cases, whereby the merging organisations strive to achieve greater market power by ensuring that they will have an opportunity to sell more goods or services than their competitors. Bridge and Craven (2015), however, provide a critical review of this strategy saying that it will be a move with an aim to achieve dominance merely in terms of higher number of shops, and further mention that with the two companies merged together, they will have lots of duplicated shops within the same vicinity, which mig ht not be very useful. Another critique about this strategy was that a single company would not be allowed by the CMA regulations to have that many shops, hence the excess shops will be allocated to smaller competitors like PaddyPower and Betfred; that again makes the purpose of this merger in vain (Kleinman, 2015). As a counter-argument to this, the management of Ladbrokes and Coral stated that even if they lose 1000 stores, they would still have 700 more stores than William Hill, hence it would be beneficial for them (Bridge and Craven, 2015). Wood (2015) argues that as the regulatory authorities enforce to close down excess shops, it would also result in many job cuts and that Ladbrokes Coral management should have considered these consequences while discussing the merger proposal. Higher Financial Benefits According to Hall (2015), the combined entity would be valued at ÂÂ £2.3bn, earning about net revenues worth ÂÂ £2.1bn and delivering cost synergies worth ÂÂ £65m per year. However, critics argue that a mere announcement of the merger has resulted in a 9% decline in Ladbrokes share price, which is alarming (FinancialTimes, 2015). Hence the situation at the time of actual merger may be worse. An analyst Greg Johnson considers this to be a smart strategic initiative as the combined entitys revenues and profitability will be higher, which would result in greater marketing budget, thus helping the bookmaking giant be equivalent to the current leader William Hill (Martin, 2015a). Head (2015), on the other hand, views this as a disadvantage mainly for Ladbrokes, because at the time of announcing the merger, it underwent a reduction in the 2015 annual dividend by 66%. With only 2.3% yield of the shares, Ladbrokes investor confidence may further drop as well. The CEO of Ladb rokes offers a counter-argument saying that although this strategy has shown some dividend and revenue losses currently, it would be useful for the business development in the next 900 years (ProQuest, 2015). The combined retail business of Ladbrokes Coral is viewed as a cash engine of the company, which is why they consider this merger as a win-win situation for both organisations (Maidment, 2015). An opportunity for business growth has been identified related to the joint procurement and reduction of central overhead costs which would enhance the companys efficiency, making it financially strong to bear the tax increases (GalaCoral, 2015). Faster Online Growth With the major growth opportunities in the industry being online gaming and digital sportsbetting, the combined entity has a higher potential to enhance its online growth (GalaCoral, 2015) by attracting sports fans and younger gamblers through its tablet and mobile applications (Maidment, 2015). It will also set the drivers to enhance customer experience and increase loyalty though effective multi-channel offers (GalaCoral, 2015). Since both the companies use similar technology platforms and have partnered with outside parties such a Playtech and Scientific Games, it will be easier for integration of the systems and would not cause any disruption to their existing customers (GalaCoral, 2015). Investment banker Jefferies, however considers Coral to be an imperfect fit to merge with Ladbrokes, as another analyst determined that the success of Corals online business is only dependent upon its casino games; hence it lacks the competence to help Ladbrokes enhance its online growth (Nimm o, 2015). Increased International Presence Another reason for the merger is the opportunity to have greater international presence (Schram, 2015). After closing this deal, the combined entity would be able to operate in Italy, Australia, Spain and Belgium, and would have the potential to expand further with lesser limitations (GalaCoral, 2015). As a result of this, international revenues would account for more than 10% stake in the companys total revenues (Kleinman, 2015). The management of Ladbrokes and Coral also believes that they are very complementary businesses, which would enable them to compete better in the UK and internationally (Schram, 2015). Although there might be potential benefits of going international, Martin (2015b) argues that the uncertainty of whether the merger will take place or not, may cast serious doubts on the strategy of Ladbrokes and it may then hinder its plans to grow in other countries later on. Strength to Operate in the Regulatory Environment Maidment (2015) believes one of the reasons behind betting firms mergers is their strategy to be strong enough as an entity to be able to bear higher British tax bills and regulations in the industry. Some analysts view this as a strategy which is not well-planned, because Ladbrokes planned to take over Coral in 1998 with the same intention of better online growth, but the imposed regulations by the government to cease the takeover proposal and notices from the trade and industry secretary about the consequences of hurting the competition, made it discard the proposal (Martin, 2015b). Hence similar hindrances may occur this time around as well if the minute details have not been given enough consideration. Recommendations for Success Digital Strategy Jim Mullens, CEO of Ladbrokes admitted in front of the public about the disappointment from poor digital strategy by Ladbrokes, which made them suffer (ProQuest, 2015). In the digital market, Gala Coral accounts for a strong share of about 8% in the UK, while Ladbrokes lags behind with only 6% (Maidment, 2015). Hence in case of the new entity, the innovative ideas and successful technology from Coral may also be used in order to devise a successful strategy for digital marketing. The Coral Group possesses the leading multi-channel technology (Playtech, 2014), which if combined with that of Ladbrokes, would increase their expertise to such an extent that they will be able to upsurge their multi-channel revenue and customers. Separate Investment Entities Since the declining share price and dividend yield may have an adverse impact on customer confidence, the combined company should still keep the shares of existing shareholders to the entities they prefer, meanwhile transitioning the best case practices in both the entities before the merger takes place. This would help in avoiding any future issues in standardization of processes as has been the case in some merger failure cases (Papathanassis, 2012). Another advantage of this strategic move would be foundation of a recreational scale and improvement in the customers experience (Schram, 2015), whereby they would feel more valued. It would also upkeep the shareholders confidence as they would have discretionary power to hold the shares desired by them based on the experiences of customers. Ensuring High Employee Morale According to media sources, the merger is planned to come into effect legally as a takeover of Coral by Ladbrokes (Farrell, 2015), however, there might be problems arising as a result of this issue at the time of implementation of plans, because research suggests that takeover cases normally prove to worsen the situation for employees in the acquired organisation (Risberg, King and Meglio, 2015). Although there is satisfactory representation from both organisations in the executives list (GalaCoral, 2015), the real cultural problems may occur down the hierarchy. Ladbrokes Coral would, therefore, need to take care that the impression of the acquired firm is not considered in its literal sense, taking example from the successful merger case of Yawata Steel and Fuji Steel to form Nippon Steel, where the employee morale was kept up throughout (Waverman, Comanor and Goto, 2005: 66). The management must, therefore, develop policies according to which the employees of neither organisation are discriminated against to create a healthy work environment. Appointment of Trustworthy and Reliable Executive Members There is a probability that the CEO of HBOS, Andy Hornby would occupy a senior position in the executive board of Ladbrokes Coral (Duncan, 2015). Hornby was accused of pushing the bank into massive failure when it was finally rescued after being taken over by Lloyds bank in 2008 (Inman, 2015). Ladbrokes Coral seems to be waiting for the legal inquiry being published about the HBOS case and that Hornby would be taken on the board if not found guilty. One of the executives in the company suggested that he could be given another chance as he is a good retailer and was probably not well-suited for the banking career (Farrell, 2015). However, critics argue that the bank failed as a result of the reckless lending practices during Hornbys leadership (Aldrick, 2012). Although not being appointed for the main executives list (Duncan, 2015), it is still not fit for Ladbrokes Coral to have Hornby on their panel as it is going to be a huge risk for the company and might hinder its way to achie ve its goals successfully. Even if Hornby was not directly responsible to create the culture of high pressure sales, he was still responsible to not cease it when it came to his notice. Therefore, having experienced personnel with clear and honest work history would be best suited for the executive positions to be filled in for the newly merged company. Conclusion The competitive betting industry poses some amazing opportunities for Ladbrokes Coral, however, the combined entity may be faced with certain threats as well. Therefore, the management must evaluate the benefits of the merger proposition against the criticisms by the analysts to take the necessary actions to ensure the smooth running of the organisation. It may capitalise on Corals remarkable technology to develop its digital marketing strategy and secure stakeholders confidence by keeping the share ownership of the two entities separate. Additionally, it can formulate discrimination-free policies to ensure high morale of the employees in both entities, both before and after the merger, and appoint trustworthy and reliable members for its executive board to lead to a successful future. References Aglionby, J. (2015). Ladbrokes and Coral Confirm Merger. The Financial Times. 24th July. [Online] https://www.ft.com/cms/s/0/6a054918-31cb-11e5-8873-775ba7c2ea3d.html#axzz3olHGUo00 Aldrick, P. (2012). Book Cites Andy Hornby for HBOS Failure. The Telegraph. 9th September. [Online] Available at: https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9531748/Book-cites-Andy-Hornby-for-HBOS-failure.html Bridge, S., and Craven, N. (2015). Merger of Top Bookmakers Ladbrokes and Coral would lead to Huge Local Duplication of Shops all Owned by Same Firm. This is Money. 28th June. [Online] Available at: https://www.thisismoney.co.uk/money/news/article-3141674/Merger-bookmakers-Ladbrokes-Coral-lead-huge-local-duplication-shops-owned-firm.html Duncan, H. (2015). Disgraced Former HBOS Bank Boss Andy Hornby to Land Top Job at Newly-Merged Gambling Giant Ladbrokes Coral. The Daily Mail. 24th July. [Online] Available at: https://www.thisismoney.co.uk/money/markets/article-31724 17/Disgraced-former-bank-boss-Andy-Hornby-handed-job-newly-merged-gambling-giant-Ladbrokes-Coral.html Farrell, S. (2015). Ladbrokes and Coral in Talks to Create UKs Biggest Bookmaker. The Guardian. 23rd June. [Online] Available at: https://www.theguardian.com/business/2015/jun/23/ladbrokes-and-coral-in-talks-to-create-biggest-bookmaker FinancialTimes (2015). Ladbrokes profits slump 44% after Shop Closures. [Online] Available at: https://www.ft.com/fastft/373691/ladbrokes-half-year-profits GalaCoral (2015). Joint Announcement Regarding Proposed Recommended Merger. [Online] Available at: https://www.galacoral.co.uk/~/media/Files/G/Gala-Coral/reports-and-presentations/quarterly-report/pr-24072015.pdf Hall, J. (2015). Ladbrokes Share Price Falls after Confirming ÂÂ £2.3bn Merger with Gala Coral. CityA.M. 24th July. [Online] Available at: https://www.cityam.com/220890/ladbrokes-confirms-23bn-merger-gala-coral Head, R. (2015). Why Playtech PLC is the Jackpot Winner fro m the Ladbrokes PLC-Gala Coral Merger. The Motley Fool. 24th July. [Online] Available at: https://www.fool.co.uk/investing/2015/07/24/why-playtech-plc-is-the-jackpot-winner-from-the-ladbrokes-plc-gala-coral-merger Inman, P. (2015). Former HBOS Boss Andy Hornby to take Charge of Public Company. The Guardian. 23rd July. [Online] Available at: https://www.theguardian.com/business/2015/jul/23/former-hbos-boss-andy-hornby-to-take-charge-of-public-company Johnson, G., Whittington, R., Scholes, K., Angwin, D., and Regner, P. (2014). Exploring Strategy: Text and Cases. Harlow: Pearson Education Limited. Kleinman, M. (2015). Ladbrokes and Coral Agree ÂÂ £2.3bn Merger. Sky News. 24th July. [Online] Available at: https://news.sky.com/story/1524609/ladbrokes-and-coral-agree-2-3bn-merger Maidment, N. (2015). Ladbrokes and Gala Coral Team up for Online Betting Push. Reuters. 24th July. [Online] Available at: https://uk.reuters.com/article/2015/07/24/us-gala-coral-m-a-ladbrokes-id UKKCN0PY0JL20150724 Martin, B. (2015a). DÃÆ'Â ©jÃÆ'Â   vu for Ladbrokes Investors as Bookie Gambles on Mega-Merger. The Telegraph. 27th June. [Online] Available at: https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/leisure/11703159/Deja-vu-for-Ladbrokes-investors-as-bookie-gambles-on-mega-merger.html Martin, B. (2015b). Ladbrokes Merger Months in the Making. The Telegraph. 23rd June. [Online] Available at: https://www.telegraph.co.uk/news/predictions/leisure/11694843/Ladbrokes-merger-months-in-the-making.html McCarthy, K.J., and Weitzel, U. (2013). Merger Motives Merger Motives and the Realization of Gains. In: McCarthy, K.J., and Dolfsma, W. (ed.). Understanding Mergers and Acquisitions in the 21st Century, pp. 109-147. London: Palgrave Macmillan. Nimmo, J. (2015). Market Report: Ladbrokes Stumbles as City Doubts Success of its Coral Deal. EveningStandard. 13th August. [Online] Available at: https://www.standard.co.uk/business/market-report-ladbrok es-stumbles-as-city-doubts-success-of-its-coral-deal-a2488616.html Papathanassis, A. (2012). Post-Merger Integration and the Management of Information and Communication Systems: An Analytical Framework and its Application in Tourism. Germany: Springer Science Business Media. Playtech (2014). Playtechs Multi-Channel Solution Revolutionises the Betting Shop Experience. [Online] Available at: https://www.playtech.com/news/latest_news_and_prs/playtech_s_multi-channel_solution_revolutionises_the_betting_shop_experience ProQuest (2015). Ladbrokes Business Review, Proposed Recommended Merger with Coral Group and Proposed Placing Call Final. Fair Disclosure Wire. [Online] Available at: https://goo.gl/Px3LXl Risberg, A., King, D.R., and Meglio, O. (2015). The Routledge Companion to Mergers and Acquisitions. New York: Routledge. Rojas, J.F. (2015). Betting Giants Ladbrokes and Coral Merge to Create UKs Biggest Bookmaker But will it Close Stores and Axe Jobs? Mirror Online. 2 4th July. [Online] Available at: https://www.mirror.co.uk/news/business/betting-giants-ladbrokes-coral-merge-6128993 Schram, B. (2015). Ladbrokes and Gala Coral Agree on ÂÂ £2.3bn Merger to Create Bookmaking Giant. International Business Times. 24th July. [Online] Available at: https://www.ibtimes.co.uk/ladbrokes-gala-coral-agree-2-3bn-merger-create-bookmaking-giant-1512379 Volberda, H.W., Morgan, R.E., Reinmoeller, P., Hitt, M.A., Ireland, R.D., and Hoskisson, R.E. (2011). Strategic Management: Competitiveness and Globalization. Hampshire: Cengage Learning EMEA. Waverman, L., Comanor, W.S., and Goto, A. (2005). Competition Policy in the Global Economy: Modalities for Cooperation. London: Routledge. Wolfgang, K. (2008). Synergies, Shareholder Value and Exchange Ratios in Value-Creating Mergers: Why Shareholders Should Doubt Managements Pre-Merger Promises. Managerial Finance, Vol. 34, No. 4, pp. 252-261. Wood, G. (2015). Coral and Ladbrokes Merger Result of Adapt -or-Die Phase of Digital Age. The Guardian. 23rd June. [Online] Available at: https://www.theguardian.com/sport/blog/2015/jun/23/coral-ladbrokes-merger-result-of-digital-age

Human Consumption Is Depleting The Earth s Natural...

Human consumption is depleting the Earth s natural resources and impairing the capacity of life-supporting ecosystems. Humans have changed ecosystems more rapidly and extensively over the past 50 years than during any other period, primarily to meet increasing demands for food, fresh water, timber, fibre and fuel. Such consumption, together with world population increasing from 2.6 billion in 1950 to 6.8 billion in 2009, are major contributors to environmental damage.(Human population growth and the demographic transition). Strengthening family-planning services is crucial to slowing population growth, now 85 million annually,(Essential Environment, Human Population,page 118) and limiting population size to 9.2 billion by 2050. Otherwise, birth rates could remain unchanged, and world population would grow to 11 billion.(Essential Environment, Human Population,page 120). Indonesia is the 4th most populated country on the planet, making up 3.49% of the earths population, behind China, India and US ( World Population). Indonesia’s population is expected to grow to 271. 1 million in 2020 and 305.6 million in 2035, and the question is can the future Indonesia sustain this demographic burden (Indonesia s population growth: A demographic bonus or Burden)? Of particular concern are addressing the issues of adolescent pregnancy as UN’s 2010 World Population Prospects estimated that 1.7 million women and girls under the age of 24 give birth annually in Indonesia and almost half a

Project Management †the Importance of the Planning Process Free Essays

An individual assignment under the topic: „Project Management – the Importance of the Planning Processâ€Å" Teacher: Maria do Sacramento Basilio Student: 2012 Beja Content Content2 Introduction4 Project Management5 The Life Cycles of Projects7 PLANNING PROCESS8 Project Plan Elements11 Project Control13 Project Termination14 Conclusion16 Literature17 Introduction Each organization‘s activity in its own way contributes to organization‘s goals. It is not always easy to assess the impact of the work or the decision to achieve these objectives in the context of a complex organization of activities. Common to assume that what unites all the organizations processes to the general population and focus their efforts on a defined term direction, is a strategy. We will write a custom essay sample on Project Management – the Importance of the Planning Process or any similar topic only for you Order Now Project work is one of the extraordinary management forms. Each project is progressing to a certain stage, which is called the project life cycle. Despite the widely different names can be said that all projects are characterized by four main phases: initiation, planning, realization, finishing. An object of the Project: the planning process. The aim: to analize the essential part of Project life cycle – planning process. My essay will consists of two parts. In the first part I am going to introduce the Project Management and Project Life Cycle, in the second part of the project I will analyse the planning process and will make a conclussion about it‘s importance. Project Management In order to understand project management, one must begin with definition of a project. A project can be considered to be any series of activities and tasks that: * Have a specific objective to be completed within certain specifications * Have defined start and end dates * Have funding limits Consume resources (money, people, equipment) Project management, on the other hand, involves project planning ant project monitoring and includes such items as: Project planning: * Definition of work requirements * Definition of quantity and quality work * Definition of resources needed Project monitoring: * Tracking progress * Comparing actual outcome to predicted outcome * Analyzing impact * Making adjustments Successful proje ct management can then be defined as having achieved the project objectives: * Within time * Within cost * At the desired performance/technology level While utilizing the assigned resources effectively and efficiently * Accepted by the customer The potential benefits from project management are: * Identification of functional responsibilities to ensure that all activities are accounted for, regardless of personal turnover * Minimizing the need for continuous reporting * Identification of time limits for scheduling * Identification of methodology for trade-off analysis * Measurement of accomplishment against plans * Early identification of problems so that corrective action may follow * Improved estimating capability for future planning Knowing when objectives cannot be met or will be exceeded Unfortunately, the benefits cannot be achieved without overcoming obstacles such as: * Project complexity * Customer’s special requirements * Organizational restructuring * Project risks * Changes in technology * Forward planning and picking Project management can mean different things to different people. Quite often, misunderstand the concept because they have ongoing projects within their company and feel that they are using project management to control these activities. In such a case, the following might be considered an appropriate definition: Project management is the art of creating the illusion that any outcome is the result of a series of predetermined, deliberate acts when, in fact, it was dumb luck. Although this might be the way that some companies are running their projects, this is not project management. Project management is designed to make better use of existing resources by getting work to flow horizontally as well as vertically within the company. This approach does not really destroy the vertical, bureaucratic flow of work but simply requires that line organizations talk to another horizontally so work will be accomplished more smoothly throughout the organization. The vertical flow of work is still the responsibility of the line managers. The horizontal flow of work is the responsibility of the project managers, and their primary effort is to communicate and coordinate activities horizontally between the line organizations. The following would be an overview definition of project management: Project management is the planning, organizing, directing, and controlling of company resources for a relatively short-term objective that has been established to complete specific goals and objectives. Furthermore, project management utilizes the systems approach to management by having functional personnel (the vertical hierarchy) assigned to a specific project (the horizontal hierarchy). The above definition requires further comment. Classical management is usually considered to have five functions or principles: * Planning Organizing * Staffing * Controlling * Directing In the above definition, the staffing function has been omitted. This was intentional because the project manager does not staff the project. Staffing is line responsibility. The project manager has the rigt to request specific resources, but the final decision of what resources will be committed rests with the line managers. Talking about the me aning by a â€Å"relatively† short-term project, not all industries have the same definition for a short-term project. In engineering, the project might be for six months or two years; in construction, three to five years; in nuclear components, ten years; and in insurance, two weeks. Long-term projects, which consume resources full-time, are usually set up as a separate division (if large enough) or simply as a line organization. The Life Cycles of Projects All organisms have a life cycle. They born, grow, wane, and die. This is true for all living things, for stars and planets, for the products we buy and sell, for our organizations, and for our projects as well. A project’s life cycle measures projects completion as a function of either time (schedule) or resources (budget). This is life cycle must be understood because the PM’s managerial focus subtly shifts at different stages of the cycle. During the early stages, the PM must make sure that the project plan really reflects the wishes of the client as well as the abilities of the project team and is designed to be consistent with the goals and objectives of the parent firm. As the project goes into the implementation stage of its life cycle, the PM’s attention turns to the job of keeping the project on budget nd schedule – or, when chance interferes with progress, to negotiating the appropriate trade-offs to correct or minimize the damage. At the end of the project, the PM turns into a â€Å"fuss-budget† to assure that the specifications of the project are truly met, handling all the details of closing out the books on the project, making sure there are n o loose ends, and that every â€Å"i† is dotted and â€Å"t† crossed. Many projects are like building a house. A house-building project starts slowly with a lot of discussion and planning. Then construction begins and progress rapid. When the house is built, but not finished inside, progress appears to slow down and it seemingly takes forever to paint everything, to finish all the trim, and to assemble and install the built-in appliances. Progress is slow-fast-slow, as shown in figure: It used to be thought that S-shaped curve of figure represented the life cycle for all projects. While this is true of many projects, there are important exceptions. This is about the project that approaches completion by a very different route that the tradidtional S-curve, as shown in this figure: To make a conclusion of the topic about product life cycle, there are two different paths (life cycles) along which projects progress from start to completion. One is S-shaped and the other is J-shaped. It is an important distinction because identifying the different life cycles helps the PM to focus attention on appropriate matters to ensure successful project completion. PLANNING PROCESS The most important responsibilities of a project manager are planning, integrating and executing plans. Almost all projects, because of their relatively short duration and often prioritized control of resources, require formal, detailed planning. The integration of a planning activities is necessary because each functional unit may develop its own planning documentation with little regard for other functional units. Planning, in general, can be best described as the function of selecting the enterprise objectives and establishing the policies, procedures, and programs necessary for achieving them. Planning in a project environment may be described as establishing a predetermined course of action within forecasted environment. The project’s requirements set the major milestones, and the line managers hope that they can meet them. If the line manager connot commint because the milestones are perceived as unrealistic, the project manager may have to develop alternatives, one of which may be to move the milestones. Upper-level management must become involved in the selection of alternatives during the planning stage. Planning is, of course, decision making, since it involves choosing among alternatives. Planning is a required management function to facilitate the comprehension of complex problems involving interacting factors. The project manager is the key to successful project planning. It is desirable that the project manager be involved from project conception through execution. Project planning must be systematic, flexible enough to handle unique activities, disciplined through reviews and controls, and capable of accepting multifunctional inputs. Successful project managers realize that project planning is an iterative process and must be performed throughout the life of the project. One of the objectives of project planning is to completely define all work required (possibly through the development of a documented project plan) so that will be readily identifiable to each project participant. This is necessity in a project environment because: * If the task is well understood prior to being performed, much of the work can be preplanned. * If the tas is not understood, the during the actual task execution more knowledge is gained that, in turn, leads to changes in resource allocations, schedules, and priorities. * The more uncertain the task, the greater the amount of information that must be processed in order to ensure effective performance. Without proper planning, programs and projects can start off â€Å"behind the eight ball† because of poorly defined requirements during the initial planning phase. Below is a list of the typical consequences of poor planning: * Project initiation * Wild enthusiasm * Disillusionment * Chaos * Search for the guilty * Punishment of the innocent * Promotion of the nonparticipants * Definition of the requirements Obviously, the definition of the requirements should have been the first step. There are four basic reasons for project planning: * To eliminate or reduce uncertainty * To improve efficiency of the operation * To obtain a better understanding of the objectives * To provide a basis for monitoring and controlling work Planning is decision making based upon futurity. It is a continuous process of making entrepreneurial decisions with an eye to the future, and methodically organizing the effort needed to carry out these decisions. Furthermore, systematic planning allows an organization of set goals. The alternative to systematic planning is decision making based on history. This generally results in reactive management leading to crisis management, conflics management, and fire fighting. Effective total program planning cannot be accomplished unless all of the necessary information becomes available ant project initation. These information requirements are: * The statement of work (SOW) The project specifications * The milestone schedule * The work breakdown structure (WBS) The statement of work (SOW) is a narrative description of the work to be accomplished. It includes the objectives of the project, a brief description of the work, the funding constraint if one exists, and the specifications and schedule. The schedule is a â€Å"gross† sc hedule and includes such things as the: * Start date * End date * Major milestones * Written reports The last major item is the work breakdown structure. The WBS is the breaking down of the statement of work into smaller elements so that better isibility and control will be obtained. Project Plan Elements The project master plan should contain nine elements: a project overview, a statement of objectives, a description of the technical and managerial approaches to the work, all contractual agreements, schedules of activities, a list of resource requirements or a project budget, personnel requirements, project evaluation methods, and preparations to meet potential problems. These are the elements that constitute the project plan and the basis for a more detailed planning of the budgets, schedules, work plan and general management of the project. Once this basic plan is fully developed and approved, it is disseminated to all interested parties. I would like to describe each element. * Overview. This is a short summary of the objectives and scope of the project. It is directed to top management and contains a statement of the goals of the project, a brief explanation of their relationship to the firm’s objectives, a description of the managerial structure that will be used for the project, and a list of the major milestones in the project schedule. * Objectives. This contains a more detailed statement of the general goals noted in the overview section. The statement should include profit and competitive aims as well as technical goals. * General approach. This section describes both the managerial and the technical approaches to the work. The technical discussion describes the relationship of the project to available technologies. For example, it might note that this project is an extension of work done by the company for an earlier project. The subsection on the managerial approach takes note of any deviation from routine procedure – for instance, the use of subcontractors for some parts of the work. * Contractual aspects. This critical section of the plan includes a complete list and description of all reporting requirements, customer-supplied resources, liaison arrangements, advisory committees, project review and cancellation procedures, proprierty requirements, any specific management agreements, as well as the technical deliverables and their specifications, delivery schedules, and a specific procedure for changing any of the above. Completeness is a necessity in this section. If in doubt about whether an item should be included or not, the wise planner will include it. * Schedules. This section outlines the various schedules and lists all milestone events. The estimated time for each task should be obtained from those who will do the work. The project master schedule is constructed from these inputs. The responsible person or department head should sign off on the final, agreed-on schedule. * Resources. There are two primary aspects to this section. The first is the budget. Both capital and expense requirements are detailed by task, which makes that a project budget. One-time costs are separated from recurring project costs. Second, cost monitoring and control procedures should be described. In addition to the usual routine elements, the monitoring and control procedures must be designed to cover special resource requirements for the project, such as special machines, test equipment, laboratory usage or construction, logistics, field facilities, and special materials. * Personnel. This section list the expected personnel requirements of the project. Special skills, types of training needed, possible recruiting problems, legal or policy restrictions on work force composition, and any other special requirements, such as security clearances, should be noted here. It is helpful to time-phase personnel needs to the project schedule. This makes clear when the various types of contributors are needed and in what numbers. These projections are an important element of the budget, so the personnel, schedule, and resources sections can be cross-checked with one another to ensure consistency. * Evaluation Methods. Every project should be evaluated against standards and by methods established at the project’s inception. This section contains a brief description of the procedure to be followed in monitoring, collecting, storing, and evaluating the history of the project. Potential Problems. Sometimes it is difficult to convince planners to make a serious attempt to anticipate potential difficulties. One or more such possible disasters such as subcontractor default, technical failure, strikes, bad weather, sudden required breakthroughs, critical sequences of tasks, tight deadlines, resource limitations, complex coordination requirements, insuffici ent authority in some areas, and new, complex, or unfamiliar tasks are certain to occur. The only uncertainties are which ones will occur and when. In fact, the timing of these disasters is not random. There are times, conditions, and events in the life of every project when progress depeneds on subcontractors, or the weather, or coordination, or resource availability, and plans to deal with unfavorable contingencies should be developed early in the project’s life cycle. Some PMs disdain this section of the plan on the grounds that crises cannot be predicted. Further, they claim to be very effective firefighters. It is quite possible that when one finds such a PM, one has discovered an arsonist. No amount of current planning can solve the current crisis, but preplanning may avert some. Project Control The two fundamental objectives of control are: 1. The regulation of results through the alteration of activities. 2. The stewardship of organizational assets. Most discussions of the control function are focused on regulation. Physical Asset Control Physical asset control requires control of the use of physical assets. It is concerned with assets maintenance, whether preventive or corrective. At issue also is the timing of maintenance or replacement as well as the quality of maintenance. Physical inventory, whether equipment or material, must also be controlled. It must be received, inspected, and possibly stored prior to use. Records of all incoming shipments must be carefully validated so that payment to suppliers must also be applied to suppliers from inside the organization. Even such details as the project library, project coffee maker, project room furniture, and all the other minor bits and pieces must be counted, maintained, and conserved. Human Resource Control Stewardship of human resources requires controlling and maintaining the growth and development of people. Projects provide particulary fertile ground for cultivating people. Because projects are unique, differing one from another in many ways, it is possible for people working on projects to gain a wide range of experience in a reasonably short time. Measurement of physical resource conservation is accomplished through the familiar audit procedures. The measurement of human resource conservation is familiar audit procedures. The measurement of human resource conservation is far more difficult. Such devices as employee appraisals, personnel performance indices, and screening methods for appointment, promotion, and retention are not particularly satisfactory devices for ensuring that the conservation function is being properly handled. The accounting profession has worked for some years on the development of human resource accounting, and while the effort has produces some interesting ideas, human resource accounting is not well accepted by the accounting profession. Financial Resource Control Though accountants have not succeeded in developing acceptable methods for human resource accounting, their work on techniques for the conservation of financial resources has most certainly resulted in excellent tools for financial control. This is the best developed for the basic areas needing control. It is difficult to separate the control mechanisms aimed at conservation of financial resources from those resources from those focused on regulating resource use. Most financial controls do both. Capital investment controls work to conserve the organization’s assets by insisting that certain conditions be met before capital can be expended, and those same conditions usually regulate the use of capital to achieve the organization goal of a high return on investments. The techniques of financial control, both conservation and regulation, are well known. They include current assets controls, and project budgets as well as capital investment controls. These controls are exercised through a series of analyses and audits conducted by the accounting function for the most part. Project Termination As it must to all things, project termination comes to every project. At times, project death is quick and clean, but more often it is a long process. The process of termination is never easy, always complicated, and, as much as we might wish to avoid it, almost always inevitable. The problem is how to accomplish one of the several levels of what is meant by project termination with a minimum of trouble and administrative dislocation. A project can be terminated in one of four ways: * by extinction * addition * integration * starvation y Extinction: * The project has successfully completed scope and the client has accepted it. * It has been superseded by the external developments like technological advancement, market crisis etc * It has failed to achieve it’s goal. * It has no longer support from the Senior Management. It is also sometimes referred to as â€Å"termination by murderâ€Å". The important point to notice is that all project activity ceases in this kind of termination. by Addition: * The project is a major success. It becomes the formal part of the parent organization. The transition or   transfer of the resources such as the project personnel, materials and equipment to the newly created unit within the parent   organization. by Integration: * The project is successfully completed. The   project product is integrated to the operations of the client. This is the most common mode and most complex operation. The resources are   released   and   disturbuted in the parent organization. by Starvation: * The project is terminated by budget decrement. * It is also known as   withdrawal of â€Å"life support†. The reason of this termination is generally to shadow the failure of non-accomplishment of the goals. This can save face of the senior management and avoid embarrassment. The Project Final Report incorporates the process knowledge gained from the Project. In addition to preservation of Project records, the Final Report embodies the experience from which we learn. It should include: Project performance comments, administrative performance comments, organizational structure comments, personnel suggestions, possibly a confidential section. Conclusion Project planning is probably the most time-consuming project management activity. Project planning continues from the initial idea through to the system delivery. Plans must be regulary updated using the new available information. There are many techniques for developing a project plan. They are fundamentally similar. All of them use a systematic analysis to identify and list the things that must be undertaken in order to achieve the project‘s abjectives, to test and validate the plan and to deliver it to user. Planning is an essential function in the success of any project. Planning does not refer simply to pulling out a calendar and recording things to do on random dates. Planning is all about actively plotting a course to meeting goals. Goals are really the start of any discussion about planning in a successful project. Literature 1. Harold Kerzner „Project Management. A Systems Approach to Planning, Scheduling, and Controllingâ€Å" sixth edition 2. Samuel J. Mantel Jr. Jack R. Meredith, Scott M. Shafer, Margaret M. Sutton „Project Management in Practiseâ€Å" second edition 3. Jack R. Meredith, Samuel J. Mantel „Project Management. A Managerial approachâ€Å" third edition 4. V. Buda, A. Chmieliauskas „Projektu valdymasâ€Å" 2006 How to cite Project Management – the Importance of the Planning Process, Essays

Recordkeeping System free essay sample

CHAPTER I THE PROBLEM This chapter of the study presents the problems ascertained from the researchers’ gathered data, the objectives, the scope, delimitations and limitations, and the significance of the study. Introduction Record keeping system is a systematic procedure by which the records of an office/organization are created, captured, maintained and disposed of. This system also ensures the record’s preservation for evidential purposes, accurate and efficient updating, timely availability, and control of access to them only by authorized personnel. A record keeping system has four components namely the records, people, processes and tools. Records are the information resources which can be presented in any format and are the ones needed to document office or organizational activities. On the other hand, people represent the authorized personnel and record contacts who oversee the records management program. Processes are the procedures on how to manage records throughout their life cycle. And tools comprise the computer or software programs, shelving and file cabinets, folders, etc. , all of which keep the records organized. There are basically two procedures on how to manage records. One is manually and the other is through the use of computers and/or software programs. In manual record keeping a pen and paper could work adequately. Inexpensive and pre-formatted record books which are available at most office supply can also do the manual record keeping. While others may imply that manual record keeping are accurate for as long as manual records can be understood or explained if questioned, many others don’t seem to be convinced for several reasons. One, processing of data is slow in manual record keeping because one has to browse over the shelves and filing cabinets all day to search for a single file. Two, retrieving of records sometimes seem impossible because there are no back-up files. So once a record is lost it ends there. These are but few of the problems encountered using the manual record keeping system, both of which contributed to the rise of computerized record keeping. Computerized record keeping works on the same principles as a manual system. The only difference is that the computer automates the process so it is faster and more accurate, thus providing the user with records that are trustworthy. According to researches, trustworthy records are reliable, authentic, complete and unaltered, and usable. But to ensure that the records are trustworthy, the system must preserve the information within the records (content), the circumstances under which the records were created or received (context), and the relationship between the parts of the record (structure). All of which can be acquired preferably when using a computerized record keeping system. Having gathered all those concepts aforementioned above about record keeping, the researchers came up with the idea of proposing a computerized record keeping system for the benefit of the NSTP office since they are currently managing students’ records manually. National Service Training Program or NSTP is a program aimed at enhancing civic consciousness and defense preparedness in the youth by developing the ethics of service and patriotism while undergoing training in any of its three program components namely Reserve Officers Training Corps (ROTC), Literacy Training Service and Civic Welfare Training Service (CWTS). NSTP office is among the twenty offices in Kolehiyo ng Lungsod ng Lipa. It is currently headed by Dr. Armando Mendoza who is also the head of the PE Department. Yet the said office offers the two program components, the ROTC and CWTS respectively. And since all the freshmen in the college are required to take up NSTP as one of their subjects, it can be assumed that the said office handles a lot of student records, hundreds or even thousands depending upon the number of enrollees every academic year. Considering the number of records that the office handles or manages, a need to abide to the different changes such as having a computerized system is highly advisable. More so, having a computerized record keeping system will help the office or its head Dr. Mendoza itself to make trustworthy records and keep track of them and to avoid lost of students records. Statement of the Problem This states the problems ascertained from the researchers’ gathered data. 1. NSTP Office which offers two program components namely ROTC and CWTS manage students’ records using a manual record keeping system. 2. As a result of utilizing a manual record keeping in the NSTP Office, timely availability of files is often unattainable. 3. Employing a manual record keeping system in the NSTP Office cuts down the life cycle of the files because there are no back up copies, so there is basically no solution once a file is accidentally lost. Objectives of the Study This asserts the objectives that correspond to the ascertained problems. 1. The researchers aspire to develop a computerized record keeping system which will automate the process so it is faster and more accurate, providing the NSTP Office records that are trustworthy. 2. Moreover, the researchers also intend to assist the NSTP Office to attain the timely availability of files via the database incorporated in their proposed automated record keeping system. 3. Furthermore, the researchers aim to lengthen the life span of the files managed by the NSTP Office via a system which enables the user to create back up copies for his files. Scope, Delimitations and Limitations of the Study This part presents the coverage, exclusions, restrictions, limits and boundaries of the study. The system proposed by the researchers will focus mainly on the record keeping system of the NSTP office. The researchers intend to mitigate the possible solutions to the problems presented herein by means of developing a system that will assist the NSTP Head in matters that involves students’ records and its maintenance, user-convenience and retrieval. They will rely only on the gathered data and from there will start on reaching their objectives. The proposed system or program comprises a database system which will facilitate in an organized and efficient compilation of students’ records. In addition, the study will also cover the merging of the record keeping system of the ROTC and CWTS Office. However, the proposed system will provide separate modules for ROTC and for CWTS. Different security pin will be assigned for the two modules so that only the ROTC head can access their office’s records and only the CWTS Head can access their office’s records and vice versa. In spite of this, the NSTP Head will have access on both modules. Accordingly, time consumed in compiling, searching and transferring of records will be trimmed down. On the contrary, the study pays no attention to the grading system utilized by the ROTC and the CWTS Office. Thus, the researchers’ proposed system are not liable for the means of evaluation of the students’ grades done inside the office other than the inputting of final grades and the maintenance of students’ records. Furthermore, the study concentrates merely on automating the record keeping system of the NSTP Office which comprises the management of students’ records of all the freshmen who are taking up NSTP as one of their subjects as well as maintaining, and securing them via the proposed system. Significance of the Study This part affirms the importance of the study. The findings of this study are hoped to be beneficial to the following: The NSTP Office. The findings of this study are a concrete appraisal of the implementation of computer programs in their record keeping system. Likewise, the findings of this study could provide them useful and possible solutions to the problems presented herein; The institution. This study can be used as a guide in measuring how well students learned from their classes more specifically on research and application of other theories learned from various related subjects; and The researchers. This study will serve as a guide and reference material that can be used for future research work. The presentation of information provided in this study can be a basis for research students who will be doing research for the first time.

Martez Foster Essays - The Great Gatsby, Film,

Martez Foster Dr. Logan ENGWR 303 9 Oct. 2017 The Meeting In the novel The Great Gatsby, you can tell there is a sense of desire by Jay Gatsby set in motion by the beauty of Daisy Buchanan. When they are both together during the whole meeting, you can tell that awkwardness, nervousness and a sign of insecurity are portrayed between the two. All three of those feelings mix ed toge ther with Gatsby and they became the result of the actions he takes throughout the novel. Daisy also had a mixture of these feelings, but she was good at hiding them. In all, the meeting at Nick's home showed how Gatsby and Daisy's real feelings reflected upon each other. Gatsby and Daisy had an uncomfortab le relationship throughout the story, which is very comparable to a high school relationship. Both, Gatsby and Daisy relied on Nick to be sort of a mediator. Nick supplied both of them with reassurance and security, but mainly he did it for Jay Gatsby. Nick had setup a meeting for Gatsby and Daisy to meet each other, after not seeing each other for a while. It was easy to tell that the meeting was going to be filled with quietness and nervousness because Gatsby wanted Nick to be there when Daisy arrived and he wanted him to organize the meeting for them. Nick did not really want to do it but Gatsby begged him over and over again to do it for him. Nick decided that he would do it for Gatsby, so they set the meeting up at Nick's home that day. As they waited for daisy to arrive, Gatsby started to feel a little hesitant so he started thinking about leaving and just calling a quits. Before he could take any actions, Daisy arrived at Nick's home without her husband. The feeling of awkwardness landed upon Gatsby because he knew that Daisy was married but he was so interested in seeing her. What makes it even worse for Gatsby is that he does not know how to handle confrontations very well, which is why he wants Nick there. When Daisy arrived at Nick's home, he introduced her to his living room where Gatsby was nowhere to be found. This is when the awkwardness started to rise between Gatsby and Daisy. Gatsby, nervous, ran around the house to the front door and knocked after he noticed Daisy was already in. He wanted to decrease the level of awkwardness and make it seem more like a natural meeting. You can tell that the meeting between Gatsby and Daisy is very similar to two high school students meeting each other for the first time. Even though there is nervousness already stirred between them, there is also that sense of awkwardness coming along. Nick notices that the awkwardness is not coming from Daisy but from Gatsby himself. Gatsby does not feel awkward because Daisy has arrived and present, he is that way because he feels uneasy to talk to her and look her in the eye. Generally speaking, when two adults tend to have a meeting with each other, a third person seems to be unnecessary for them both. This is why you can compare Gatsby and Daisy's meeting with high school students meeting each other for the first time. "I made an excuse at the first possible moment, and got to my feet." (pg. 87). This statement was proof that there was a sense of awkwardness at the meeting because of the way Gatsby dressed. Gatsby dressed very formal, basically he was dressed to impress, and because the way he dressed that showed a sign of insecurity with himself. "An hour later the front door opened nervously, and Gatsby, in a white flannel suit, silver shirt, and gold-colored tie, hurried in." (pg. 84). When Daisy saw Gatsby, it did not seem like she was nervous or antsy about meeting him. The meeting was set up by Gatsby and Nick, so from Daisy's point of view, it was sort of like a surprise date for her, and she was not expecting to see him at all. When Nick takes them to the living room to meet each

Changing Careers Avoid These 5 Biggest Mistakes

Changing Careers Avoid These 5 Biggest Mistakes You think you’re ready to change careers. You’ve got all the right stuff to make a change: you’re extremely good at what you want to do, confident in yourself and your abilities, clear about your expectations and goals, and you have the courage necessary to take the leap. Before you do, however, make sure not to make any of the following mistakes:1. Don’t wait until you’re desperateIt’s never a good idea to make a giant life-changing decision from a place of desperation or despair. If you’ve gotten to the point where you absolutely hate your job and can’t stand going to work, that is- counter-intuitively- the absolute wrong time to change careers.See if you can improve your situation and your day-to-day enjoyment of your work first. When you’ve stabilized a bit, that’s when to take a step back and decide what direction you’d most like to go in. It will save you a lot of backtracking if you quit your corporat e finance job to join the circus on a whim and need to find that middle ground. No need to go through this taxing process twice.2. Don’t forget you need to eat to liveCourage and pluck and a big fat dream are not enough to pay the rent. Before you embark on this crazy life-changing change of course, make sure to lay some solid financial groundwork to support you throughout your transition. Make sure you have enough of a safety net, and that you can make enough to maintain your lifestyle once you make it to the other side of the chasm.3. Don’t lose sight of what you wantIf you’re going to shake things up, make sure to do it right. This will help you avoid going through this process twice. Make sure you really examine- first and foremost- what you want. What values matter to you, what sorts of parameters are deal-breakers for you, what you want to accomplish with your career, etc. Then figure out the kind of actual work that will satisfy those needs. Then, and onl y then, pursue that work. Guesses are not your friend.4. Don’t forget to ask yourself the tough questionsDig deep. Revisit mistake #3. Have you really figured out your motives? Are you looking to make a drastic change for the wrong reasons? Would there be ways to accomplish everything you want and get everything you need within your current field? Even your current position? Figuring out what’s workable about where you are right now is a very useful skill, and it will save you being dissatisfied wherever you end up.5. Don’t give upBig transitions like this don’t come easily. If no one hands you a new career on a silver platter, don’t get too discouraged. Remember to persevere. If you’re not working hard enough to make this happen, it might be because it isn’t really what you want. But if it is? Just keep keeping at it.