Integrated Project Management Tools Research Paper

Integrated Project Management Tools - Research Paper Example At the project’s starting stage, the project is explicitly and clearly defined. The scope of the project and its purpose are defined, and a benchmark for the expected final product is set. The time and resources required for completion of the project are allotted. Resolving problems encountered during the project and controlling the product quality are the main activities of a project’s control stage (Bainey, 2004). This stage oversees the completion of most of the work, and it is during this stage that most of the project’s time is consumed. The project’s closure level involves officially ending the project and providing any useful tips applicable to other projects. Any outstanding work that requires completion is done in this stage. The Project Manager is responsible for managing the basic factors of a project simultaneously; these include time, scope, resources, and money (Schwalbe, 2010). These four elements work hand in hand, and for the project to be a success, these elements must be managed together. In a bed and breakfast project, the resources include equipment, funding, people, facilities, or materials. Management Tools Work Authorization System This is a method used in hand with project management. The project manager together with his designees uses the work authorization system to sanction all project work during a project management. Work authorization procedures show the person responsible for authorizing activities to be completed and how those authorizations may be achieved (Schwalbe, 2010). These procedures include documents that must be filled before initializing any work, and the possibilities of any prerequisites. In order to facilitate the efficiency of project management in bigger projects, work authorization systems detail the timeline of the project. For example, the work authorization system might show when some parts of the project should end, by whom and in which order (Bainey, 2004). For a bed and breakfa st project to be successful, work authorization is an effective tool. Project Status Report It is a regular, official report on a project progress against the plan of the project. Its purpose is to efficiently and effectively communicate the project status at regular intervals. In addition, it can be utilized in providing a documented history of a project. Objectives of a status report include communication of the project progress, simplifying the mode of collecting and distributing project information, improving passing of information within the project, and improving organizational support of the project. A good, consistent project status report prevents a project from missing completion deadlines by keeping the project on the early-start and early-finish schedule. Being alert of the start and completion dates during a project increases the chances for the project being successful. A project status reporting is a function that is performed throughout the project (Barkley, 2006). S cheduling System A scheduling system is a form of a tool used to build an integrated project management system. A good scheduling system should aid in achieving the best end results in a bed and breakfast project. The project manager should ensure that the scheduling system

Money Laundering and corruption Essay Example | Topics and Well Written Essays - 1000 words

Money Laundering and corruption - Essay Example Another important aspect of Money Laundering is that it is ipso facto illegal i.e. the acts that produce the money are always criminal in one or the other. Now in simple words when some criminal activity generates great and heavy and huge amount of profits then that particular group of people involved must think of a way to take care of the funds without gaining attention. Criminals control their large amount of funds by not telling the correct source, moving the money to a place where they won’t get any attention and some even change the format. Criminals move their money between various banks, financial instruments and they keep on changing the size and shape of their holdings by using distinct currencies and also by accumulating to and subtracting from their funds so that it becomes more difficult and extremely hard to identify. Money laundering is basically an intimidation to the better functioning of our financial system and at the same time it can also be regarded as the Achilles heel of the criminal activities.(Web: Fatfagi) It is a widely known fact that Money Laundering is prevalent and unavoidable in Europe. The EU (European Union) which is a political and an economic union has 27 countries which are located primarily in Europe. Now corruption and Money Laundering is at the highest level in Europe. To control this, the EU has come up with various policies, law and regulations but to no use.   For example there is FATF (The Financial Action Task Force) which is an intergovernmental group. It issued a list of countries recently who fail to keep a track of the financial crime. Then there is MONEYVAL which was previously known as PC-R-EV. This basically was established to perform assessment exercises (both self and mutual) of the money laundering activities in Europe. It also reviews the procedures of The Financial Action Task Force. There is a