Posts Tagged ‘Project’

Lauton U: The Hidden Costs Of Project Funding ? Part I

Saturday, February 19th, 2011

Lauton U: The Hidden Costs Of Project Funding ? Part I

Lauton U: The Hidden Costs Of Project Funding – Part I

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Home Page > Finance > Loans > Lauton U: The Hidden Costs Of Project Funding – Part I

Lauton U: The Hidden Costs Of Project Funding – Part I

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Posted: Oct 07, 2009 |Comments: 0
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In our last post, titled The Shocking And Controversial Truth About Project Funding – What You Need To Know Before You Approach Investors we discussed how you need to be prepared to bear certain costs before you receive a single dollar from investors. Now let us take a closer look at what these costs entail. We came up with a list of over 20 expenses. While this list is not by any means all inclusive, it will serve to give you a good idea of what to expect. We have divided these it into two categories:

Costs that you will incur while preparing your project package and Due diligence costs from funding sources

Of course, determining which of these applies to your project depends on its size and scope. It is also based on the type of funding you seek, whether it’s debt, equity or a mix of both. Because funding sources only accept certain reports from their own sources, you may find that some items overlap within these categories.

Today’s post deals will cover the costs you will incur when a funding source is ready to perform their due diligence on your project and all of the key individuals involved. A word of caution. You should not underestimate what information funding entities can uncover about you, your project and your associates. Failure to provide full disclosure will disqualify the disingenuous and will result in the forfeiture of all monies paid to them. It is not unusual for prospects to spend anywhere from ,000 – 0,000 in due diligence expenses so make sure your project package is absolutely flawless before you put it in the hands of a funding source. Once you start the process, there’s no going back.

Costs Associated With the Due Diligence Process

The costs and the level of due diligence will depend on how big your project is, what percentage of the project the funding source is expected to finance and the extent of your experience with similar projects. These costs can vary greatly from one source to the next.

Appraisal reports An appraisal report is a written estimate of the value of your property, based on the findings of an appraiser who is a Member of the Appraisal Institute (MAI). The appraisal fee for estimating market value of your property can be a fixed fee or a percentage of the estimated value. Typically, the larger the property the higher the cost. Specialized types of properties such as mines can incur additional costs. Legal fees Beyond the legal costs you need to bear to have all your investor package documents in order, you will be responsible for the legal expenses involved with the drawing up of contracts, the creation and maintenance of escrow accounts and those related to the closing. SWOT Report You may or may not have a SWOT report on the strengths, weaknesses, opportunities and threats of your project to include in the funding package. Regardless, funding sources usually have their experts perform their own evaluation at your expense. Other third party reports These include environmental, engineering and other specialized reports which may be required as part of the investors or lenders due diligence on your project. Exactly what these are and how much they cost depend on the type of report and the industry as well as the scale of the project. Make sure you budget for these costs if your think they might be needed for your project.

In addition to due diligence related costs, you may have to bear other basic expenses.

Application fees

Many funding sources have an application fee on all submissions. They utilize this as a way to cover their time and expenses working on your project even if they’re forced to reject it in the end. It also serves as a way to  ensure that only the most serious, well prepared and committed parties submit funding applications.

We hope that you are now better prepared to face what’s ahead.

More on costs next week…


In our next post, we will address the various costs with the preparation of a project package. These will make-up the bulk of your expenses.

Tell us about your experience


In the meanwhile, we would like to hear from you about your experiences in your quest to secure funding for your project. In addition to sharing your unique perspective with fellow readers and subscribers, you will also be helping us gain more insight

Tips On Embarking On A Metatrader Programming Project

Thursday, February 17th, 2011

Tips On Embarking On A Metatrader Programming Project

Tips On Embarking On A Metatrader Programming Project

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Home Page > Business > Management > Tips On Embarking On A Metatrader Programming Project

Tips On Embarking On A Metatrader Programming Project

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Posted: Nov 22, 2009 |Comments: 0
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Metatrader programming converts trading ideas into useable software in a Forex platform. Although most providers and programmers have their own satisfaction guarantee policies, those policies are not enough for you to neglect proper communication procedures. In some cases wherein you are not satisfied with the program, you may get your money back, but not your wasted time and effort. Here are some tips to consider when embarkng on a Metatrader software project:

Set clear goals. When describing the project, keep your statements clear and concise. Telling the provider that all you want is a profitable software would be absurd. Good programmers in Metatrader know the terms used and the ins and outs of Forex trading, but there is no guarantee that they are also skilled financial analysts.  In fact, most trading systems aren’t profitable, and it would be up to the trader himself to optimize his trading strategy and mold its parameters to suit his needs.

Give keen and accurate details. Is the project for an indicator, script, or expert advisor? Are you going to use a third party software along with the finished program? Do you need trading data on the terminal for monitoring, or visual input on the screen for you to see? Relayingincomplete information can be costly, and you can end up always going back to the provider for technical support due to various errors and issues, and may even be charged more for program modifications.

State your desired parameters. Make it clear to the provider which of the factors on the software can be modified externally, such as money management, lot size and pip size multipliers, etc. This would allow you to modify your software without even looking at complex programming code. Also specify their default values so the programmer wouldn’t set values you won’t really use in live trading.

Determine the policies of your broker. Does your broker process order by market orders only? How many digits does your account trade in? These simple factors could save the trader a lot of time, especially during optimization, backtesting, and troubleshooting. It would always be helpful if you inform your provider regarding the broker you are going to use, so that they may use it on quality control before delivering the final program to you.

If possible, show examples and charts to illustrate your idea. Providing these information could help avoid a lot of communication gaps that would result to incorrect implementation for the program. This is especially helpful in cases wherein either the trader or the programmer is not a native English speaker.

Communication with providers is important when embarking on a Metatrader programming project. Willingness to supply as much information as you can and attention to detail are necessary in order to ensure that the program would function according to your own trading strategy.

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How computer programs or the original works of programmers be protected by copyright?
What is the position of ppp as on date. further pls confirm if u can provide us with some experts who performs such programs, since we have valid investors with us

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The significance of A Project Portfolio Management to Your Business

Saturday, February 12th, 2011

The significance of A Project Portfolio Management to Your Business

The significance of A Project Portfolio Management to Your Business

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Home Page > Business > Project Management > The significance of A Project Portfolio Management to Your Business

The significance of A Project Portfolio Management to Your Business

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The standard for portfolio management offers the generally acceptable practices for programs and projects, to help them meet an organization’s strategic objectives. Portfolios are collections of active projects, programs, and other work going on at a given point of time. Managing these is important, since it helps control the components of the portfolio, assists in the identification and assessment of the individual programs and projects, and helps people involved prioritize the components in such a way to best use available resources.

As the concept of project management gains in acceptance, we need to start looking at the natural followup – portfolio management. The big issue here is making sure we do the right work the right way, because executing projects without a documented set of processes, or a handbook on how to manage project portfolios, can lead to real problems. Fortunately, it’s not that hard to avoid disaster by using a set of standards for portfolio management.

Portfolios encompass all the functions of an organization, other than strategic objectives. This includes marketing, human resources and finance, making portfolio management an important and effective way to govern corporate activities. Set standards for portfolio management provide a guide to professionally acceptable practices in managing portfolios. This kind of standard offers the same kind of guidance previously given to project management in other standard sets, and will help improve efficiency and reduce the risk, cost, and complexity of projects.

So, how can an IT organization put together a portfolio management of its own? It depends on the standard you’re using. Some fail to explain the methods of setting these portfolios up. However, a good standard will spell out good practices for managing portfolios and programs, and will help manage the risk associated with project portfolios, as well. If you want to implement the best practices in the field, using a standard of this type is definitely a good idea. There are lots of different options available, from purchasing industry portfolio management standards to developing your own, and your organization’s requirements are going to dictate what will work best for you.

Make sure all your IT efforts add value to your bottom line. Instantly be able to see what everyone is doing, and prioritize your projects correctly. Manage resource effective, and easily measure and demonstrate results. A good IT governance and portfolio management solution can help you do all these things. Take the time to find out more about portfolio management, and see what it could do to help you organization prosper. You won’t be disappointed.

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The project manager?line manager interface from POME by Gautam Koppala

Monday, November 1st, 2010

The project manager?line manager interface from POME by Gautam Koppala

The project manager–line manager interface

We have stated that the project manager must control company resources within time, cost, and performance. Most companies have six resources:

Money
Manpower
Equipment
Facilities
Materials
Information/technology

Actually, the project manager does not control any of these resources directly, except perhaps money (i.e., the project budget). Resources are controlled by the line managers, functional managers, or, as they are often called, resources managers. Project managers must, therefore, negotiate with line managers for all project resources. When we say that project managers control project resources, we really mean that they control those resources (which are temporarily loaned to them) through line managers.

It should become obvious at this point that successful project management is strongly dependent on:

A good daily working relationship between the project manager and those line managers who directly assign resources to projects
The ability of functional employees to report vertically to line managers at the same time that they report horizontally to one or more project managers

These two items become critical. In the first item, functional employees who are assigned to a project manager still take technical direction from their line managers. Second, employees who report to multiple managers will always favor the manager who controls their purse strings. Thus, most project managers appear always to be at the mercy of the line managers.

Classical management has often been defined as a process in which the manager does not necessarily perform things for himself, but accomplishes objectives through others in a group situation. This basic definition also applies to the project manager. In addition, a project manager must help himself. There is nobody else to help him.

If we take a close look at project management, we will see that the project manager actually works for the line managers, not vice versa. Many executives do not realize this. They have a tendency to put a halo around the head of the project manager and give him a bonus at project termination, when, in fact, the credit should go to the line managers, who are continually pressured to make better use of their resources. The project manager is simply the agent through whom this is accomplished. So why do some companies glorify the project management position?

To illustrate the role of the project manager, consider the time, cost, and performance constraints. Many functional managers, if left alone, would recognize only the performance constraint: “Just give me another ,000 and two more months, and I’ll give you the ideal technology.”

The project manager, as part of these communicating, coordinating, and integrating responsibilities, reminds the line managers that there are also time and cost constraints on the project. This is the starting point for better resource control.

Project managers depend on line managers. When the project manager gets in trouble, the only place he can go is to the line manager because additional resources are almost always required to alleviate the problems. When a line manager gets in trouble, he usually goes first to the project manager and requests either additional funding or some type of authorization for scope changes.

To illustrate this working relationship between the project and line managers, consider the following situation:

Project Manager (addressing the line manager): “I have a serious problem. I’m looking at a 0,000 cost overrun on my project and I need your help. I’d like you to do the same amount of work that you are currently scheduled for but in 3,000 fewer man-hours. Since your organization is burdened at /hour, this would more than compensate for the cost overrun.”

Line Manager: “Even if I could, why should I? You know that good line managers can always make work expand to meet budget. I’ll look over my manpower curves and let you know tomorrow.”

The following day …

Line Manager: “I’ve looked over my manpower curves and I have enough work to keep my people employed. I’ll give you back the 3,000 hours you need, but remember, you owe me one!”

Several months later …

Line Manager: “I’ve just seen the planning for your new project that’s supposed to start two months from now. You’ll need two people from my department. There are two employees that I’d like to use on your project. Unfortunately, these two people are available now. If I don’t pick these people up on your charge number right now, some other project might pick them up in the interim period, and they won’t be available when your project starts.”

Project Manager: “What you’re saying is that you want me to let you sandbag against one of my charge numbers, knowing that I really don’t need them.”

Line Manager: “That’s right. I’ll try to find other jobs (and charge numbers) for them to work on temporarily so that your project won’t be completely burdened. Remember, you owe me one.”

Project Manager: “O.K. I know that I owe you one, so I’ll do this for you. Does this make us even?”

Line Manager: “Not at all! But you’re going in the right direction.”

When the project management–line management relationship begins to deteriorate, the project almost always suffers. Executives must promote a good working relationship between line and project management. One of the most common ways of destroying this relationship is by asking, “Who contributes to profits—the line or project manager?” Project managers feel that they control all project profits because they control the budget. The line managers, on the other hand, argue that they must staff with appropriately budgeted-for personnel, supply the resources at the desired time, and supervise performance. Actually, both the vertical and horizontal lines contribute to profits. These types of conflicts can destroy the entire project management system.

The previous examples should indicate that project management is more behavioral than quantitative. Effective project management requires an understanding of:

Quantitative tools and techniques
Organizational structures
Organizational behavior

Most people understand the quantitative tools for planning, scheduling, and controlling work. It is imperative that project managers understand totally the operations of each line organization. In addition, project managers must understand their own job description, especially where their authority begins and ends. During an in-house seminar on engineering project management, the author asked one of the project engineers to provide a description of his job as a project engineer. During the discussion that followed, several project managers and line managers said that there was a great deal of overlap between their job descriptions and that of the project engineer.

Organizational behavior is important because the functional employees at the interface position find themselves reporting to more than one boss—a line manager and one project manager for each project they are assigned to. Executives must provide proper training so functional employees can report effectively to multiple managers.

POME Case Study

Considering the Nontechnical Social Factors in Hiring — Case Problem: ‘‘The Shining Star”

Overview

Upset about the unexpected meeting that had just occurred in his office, Tom, director of new product development, walked over to the office of Eric, a senior research engineer in the department.

‘‘You won’t believe what just happened,” he said. ‘‘Sam, the newest member of our department, just up and quit.”

‘‘Well,” replied Eric, ‘‘I’ve got to be honest. Bets were out he wouldn’t have lasted this long.”

‘‘What are you talking about?” asked Tom.

‘‘Admit it, Tom,” said Eric, ‘‘the guy was discontented from the very beginning. I didn’t get the impression he was ready to work with characters like Ernie and Max. And besides, you knew he was single, and this is a very settled area with almost no social activities for single people.”

‘‘Look, Eric, we need good people here,” Tom said defensively. ‘‘Sam was very competent and eager to come on board.”

‘‘I don’t like to say I told you so,” said Eric, ‘‘but remember we’d agreed to get department input on hiring to ‘feel out’ the different candidates because we’ve had the same type of problems in the past.”

‘‘Maybe I should have gotten some input,” admitted Tom. ‘‘I was just so enthusiastic about Sam’s technical background that I didn’t want to wait.”

‘‘By the way, what were his reasons for leaving?” asked Eric.

‘‘Well,” replied Tom, ‘‘he said that while he liked the work and the people he worked with, he felt frustrated because his family and friends lived so far away. And as a single person in this town, he had no opportunity to meet other singles.”

‘‘Did he say anything about the rural location of our plant?” asked Eric. ‘‘You know, Tom, the fellow lived in Philadelphia all his life, and I had wondered if that transition would be hard to make.”

‘‘Yes,” replied Tom, ‘‘he did mention that hardship but felt that a good social situation might have compensated for it. There was just nothing I could say, Eric. He had his mind made up. I guess I was just too shortsighted and too quick in making up my mind.”

 

Case Analysis

Sam’s grievances should not have surfaced in the form of a resignation. This situation might have been prevented in the hiring process. As the senior research engineer pointed out to his boss, participation by other staff members in the selection process might have revealed the new employee’s concerns about his social life. In addition, the director of new product development should have openly shared as much information as possible about the company, its community and lifestyle.

In a hiring situation, it is tempting to focus attention on—and overly emphasize—technical credentials, while paying too little attention to the candidate’s personal and social concerns.

Solution:

Consider the following action tools in the hiring process:

As a buyer of talent for the department, the manager must screen each candidate on a number of important factors. In addition to exhibiting the necessary technical capabilities, a job candidate must possess interests and preferences in line with the company’s geographic location, community lifestyle, and other social-related matters.
During the interviewing process, the manager should control any impulse to make quick judgments on ‘‘shining star” candidates—seemingly outstanding applicants—and be certain to fully discuss and assess all aspects of each individual.
The manager can gain valuable information by assembling a staff selection team to assist in the selection effort. Such a team can provide invaluable information and contribute many different helpful insights to create a total profile of the candidate.

Gautam Koppala,

POME Author

GAUTAM KOPPALA, With over   a decade, track record of successful leadership, excellent results through strategic skills in driving revenue and profit growth. Demonstrated ability to identify and trouble shoot critical issues impacting productivity, cost, distribution, marketing, Strategic positioning, sales and financial operations, with innate ability to build and maintain strong client relationships in operations. Expert in distilling and managing processes, enhancing internal structures, and promoting multi-skilled team competencies via nurturing mentorship and inspirational leadership. Engagements have spanned operational, strategic, technological and change management roles. Academically, I am a cum laude graduate with a Bachelor of Technology degree in Electrical and Electronics Engineering (B-Tech E.E.E.) and a post graduate in Masters in Human Resources Management (M.H.R.M.) and Masters of Foreign Trade (M.F.T.). As you will see my Post Graduation’s were been studied part-time, as well as working full-time as an Engineer. I feel that this demonstrates my ability to maintain dedication, motivation and enthusiasm for a project management over a long period of time. In addition, balancing full-time work with study has perfected my time-management and organizational skills. I believe that my college degrees and gamut certifications in combination with my extensive broad-based work experience along with my drive, resourcefulness and determination, would make me an excellent candidate for a senior management position with any company. Highlights of my background include Operations related Commercial, Supply chain, Sales with a magnificent experience in Project management, technically oriented towards Automation and Security Systems in Industrial and Building sectors. Presently, writing a book on Projects and Operations Management (comprise of 12 volumes, 6K pages), and awaited for the reputed publications. These books can be checked in Google books and other search engines too.

Con Blackett of the RiverMuse Customer Advisory Board explains the basic principles of fault and event management. Topics discussed include reactive management, proactive management, manager of managers (MoM), and new challenges for MoMs.

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Distinguishing Portfolio Management, Program Management, and Project Management

Saturday, October 23rd, 2010

Distinguishing Portfolio Management, Program Management, and Project Management

There is often a misunderstanding, and hence a mixed and overlapping use of terms, when it comes to program management. Sometimes a program is called a project. Sometimes a project is called a program. In addition, sometimes project portfolio and program are mistakenly used interchangeably. This article is intended to clarify the main differences and to distinguish the unique aspects of project portfolios, programs, and projects.

A great way to start to think about these is to think in terms of a pyramid hierarchy. At the top of the pyramid is portfolio management, which contains all of the projects and programs that are prioritized by business objectives. Below that is program management, which contains numerous projects that are interrelated, since they support a particular business objective. Programs consist of multiple projects, but projects can be independent and simply part of the portfolio. Projects differ from programs in that they are strictly tactical in nature.

Here is a more detailed look at each:

Portfolio Management
One of the key distinguishing features about Project Portfolio Management is that it is a process that is clearly characterized by business leadership alignment. Priorities are set through an appropriate value optimization process for the organization. Risk and reward are considered and balanced, and programs are selected based on their alignment with organizational strategy. Feedback is provided from program and project implementation so that portfolio adjustment can occur, if necessary. Strategic changes can also require portfolio adjustments.

Program Management
A key distinguishing feature of Program Management is business sponsorship. Almost by definition, based on decisions made at the Portfolio Management level, programs are sponsored by business needs. The Program takes on the ownership of benefits and is measured primarily based upon achievement of those benefits. Programs can also sometimes have “benefits streams”, or sets of interrelated benefits, such as increased R & D capabilities combined with increased market penetration, that cut across functions in the organization. Because programs, naturally consisting of multiple projects, span functions within an organization, they have all elements of a business system, and hence are general management oriented.

Project Management
Project Management is most concerned with delivery of capabilities, typically as defined within a program. Projects need to be strategy-driven, but do not own the strategic initiative as does a program. Rather, the project takes inputs and develops and implements a tactical plan. Monitoring along the way and final measurement of success is typically based more on the tactical considerations such as budget and schedule than upon achievement of a strategic business objective.

Now, with the basic distinctions among Project Portfolio Management, Program Management, and Project Management defined, each organization must “personalize” its implementation of these 3 processes within the organization. Some key factors and how they affect choices made about implementing each are as follows:

Industry – Industry provides insights into the stability and consistency of operations. Some industries, like pharmaceuticals, are be very driven by product lifecycles, albeit fairly long ones that include a major regulatory process. Consumer electronics companies are driven by much shorter project lifecycles and rapidly evolving technology, with little regulation. Construction firms are highly porjectized and deal with very stable technologies and products.

Organization size – Generally, greater size requires more formal organization. Without structure, the relationships between strategy, portfolio management, programs, and projects can become blurred and disjointed. The 2 points of focus here are to have well-considered organizational frameworks for each of portfolio, program, and project management, and then to pay special attention to building strong ties among them for communication, collaboration, and information flow.

Operational Breadth – A more narrowly defined operational capability, such as found in a sales-focused or production focused organization, will tend to require less formality, and information will flow more freely among portfolio, program, and project management processes. In organizations that are well-integrated horizontally, containing well-developed core competencies in R&D, marketing, production, distribution, and the like, there will be natural separations that need to be managed. This will make program management especially challenging, since it is likely to cross those boundaries.

Strategy – Like the various operational considerations, the strategy will effect organization of portfolio, program, and project management based on how complex it is. One key consideration not mentioned above is strategic alliances, which can greatly effect how tightly managed and how structured these processes need to be.

Standards for Portfolio, Program, and Project Management
Standards for Project Portfolio Management, Program Management, and Project Management do exist, and clear definitions can be found within. The worldwide Project Management Institute (PMI, www.pmi.org)) has developed and published the following standards (free for members):

The Standard for Portfolio Management
The Standard for Program Management
A Guide to the Project Management Body of Knowledge (PMBOK® Guide)Third Edition

John Reiling, PMP, has experienced portfolio, program, and project management in organizations of all sizes. John’s web site Project Management Training Online provides numerous courses on these topics for PDUs, PMP Prep, and PgMP Prep. See John’s related article on Program Management , with a nice graphic on the topic, at John’s blog, PMcrunch.com.

originally designed to be my new portfolio back in 2005/06 this flash project stalled at some point because it was to ambitious for me alone to maintain and develop. The core idea was to provide the visitor of my portfolio a mansion filled with my artworks that he could inspect as a thief. Later on the user should be able to steal and collect those artworks – bringing game and presentation mediums together. The engine was initially developed in Flash MX using Actionscript 1and a cascading movieClip with scale and rotation transformations to fake afine texture mapping on rectangular shapes. The levels were all defined manually within XML in which each face was defined and adressed with a JPG texture. This engine probably brought me into 3d engine programming since back then it was a milestone for me to overcome the complexity of programming 3d. The textures were partly painted in Photoshop and rendered in 3dsmax using Render to Texture RTT to compute the lighting on them. The pathfinding back then was also a new area for me to discover. Most resources back then on the net only referred to A° examples on a grid system even though I wanted something completely different. In the end I came up with a pathfinding mechanic that allowed me to add forced entry and exit paths within a soloution so that I could better define when to walk over an obstacle in a certain pattern when I wanted. a online version of this demo can be found on: www.burg-halle.de
Video Rating: 4 / 5

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