Strategic approach for the evaluation of an improvement plan

Assignment Help Accounting Basics
Reference no: EM131002448

1.Project Control Systems is a combination of tasks aimed at adherence of a project to its objectives to ensure efficiency and timely completion of the project. The sources of information needed by PCS are primarily research into the particular type of project that is underway. For instance, a business project would require analysis of previously enumerated data and trends of the business regarding challenges and benefits. Such information can be obtained by reading intensively information in books or data on related websites. Consultancy from experts could also provide relevant information that is helpful in terms of planning on costs and time required for a project. These are people with a long-term experience on project management or regarding similar projects. Information collected this ways enables PCS to execute its planning and management duties so as to ensure the success of a project.

2. The success of an improvement plan is evaluated to determine its effectiveness in achieving a better outcome as compared to the previous outcome. The improvement plan can be assesses by drawing comparison between the outcome achieved after the improvement plan and that obtained before. A positive difference means the improvement plan is productive and a negative or very insignificant difference indicates an ineffective improvement plan. Quality measurements are also useful in measurement of the success of an improvement plan. Quality measurements entail analysis on the expected levels of accuracy, competitiveness, responsiveness and marketability of products. These aspects give an impression of the effectiveness of the improvement plan as they restrict one to focus on the set objectives and work for nothing less than the target. The combination of outcome comparisons and quality measurements form a strategic approach for the evaluation of an improvement plan. The strategies also create grounds for adjustments to be made.

Reference no: EM131002448

Questions Cloud

Problem regarding the current performance level : To be considered an elite place kicker, the success rate from this distance (D ≤ 55) needs to improve to at least 0.9. Determine the probability that this particular place kicker achieves elite status in any season, assuming that he maintains ..
What are the two special rights : Terminology varies in the way companies differentiate among share types. But many corporations designate shares as common or preferred. What are the two special rights usually given to preferred shareholders?
What would be the effective interest rate of your investment : You bought a GMC bond for $50,000 on August 1, 2003, which redeems at par value on July 31, 2009. The stated bond rate is 6% per year and the interests are compounded (paid) monthly. You have received 15 payments and you need (MUST) to sell the bond ..
How much percent of water and oxygen : How much percent of water and oxygen is there on planet earth?
Strategic approach for the evaluation of an improvement plan : The success of an improvement plan is evaluated to determine its effectiveness in achieving a better outcome as compared to the previous outcome.
Researchers in leading chemical manufacturing company : The year-end bonuses of cash, stock and stock options (in thousands of US dollars) given to senior technical researchers in a leading chemical manufacturing company, each year over a ?ve-year period from 1990-1994, has a lognormal distribution wit..
The blood is mixed with a form of chemical : When  someone  donates  blood,  the  blood  is  mixed  with  a  form  of  chemical  called  an anticoagulant. What do you think an anticoagulant is and how is it helpful to the storage of blood for future use?
Calculate the present worth of the investment : A textile firm in Argentina proposes you an investment for a period of 5 years. The initial investment is 100,000, the expenses for the first year are $10,000 (then-current) and will increase (due to usage of equipment) at rate of 10% per year.  calc..
Discuss the importance of health care information systems : Discuss the importance of health care information systems to health care professionals. Discuss four of the major health information systems and their use

Reviews

Write a Review

Accounting Basics Questions & Answers

  S company reports the following annual cost data for its

s company reports the following annual cost data for its single productnormal production level 75000 units direct

  Accrue interest revenue

At the end of Year 1, Cortex Company failed to accrue interest revenue of $3,200 that it had earned, but not received on an outstanding note receivable. Instead, it recorded the interest revenue in Year 2.

  Elaine provides more than half of the support for her son

elaine provides more than half of the support for her son james who does not live with her. james is 26 and is a

  What are the advantages of internet edi over traditional edi

What are the advantages of Internet EDI over traditional EDI?

  Determine stockholders equity of each company

Determine the stockholders equity of each company - The total assets and total liabilities of Dollar Tree Inc. and Target Corporation

  Record sales revenue

On January 1, 2007, Lex Co. sold goods to Eaton Company. Eaton signed a noninterest-bearing note requiring payment of $80,000 annually for seven years. The first payment was made on January 1, 2007. Trecord sales revenue

  Scott bestor was hired during january 2011 to manage the

scott bestor was hired during january 2011 to manage the home products division of advanced techno. as part of his

  Journalize swain enterprises entries to record

Journalize Swain Enterprises entries to record - Entries for discounting notes payable

  What are some of the uses of a budget

Rex, a budget officer, conducted a class for nonaccounting managers and program directors on the subject of budgets. Rex began the class discussion by asking, What are some of the uses of a budget?

  Newly-issued trenton shares

Newly-issued Trenton shares

  An aging of a companies accounts receivable indicates that

an aging of a companies accounts receivable indicates that 9000 are estimated to be uncollectible. if allowance for

  Assume a post audit showed that all estimates including

kohl industries is considering a new project that would require an investment of 2975000 in equipment with a useful

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd