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Lecture

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Network analysis or models are used for project evaluation and are applied to a wide range of management problems in private or public sectors. The models are also used to schedule, organise and coordinate tasks within a project.

The models include;

  1. Project Evaluation Review Technique (PERT)
  2. Critical Path Method (CPM)

The network model was developed in 1950 by the Naval Project Office in the United State. The development was with a view to enable management know the following;

  1. Time of completion of the project
  2. Time the individual part of project is scheduled to start and finish
  3. Which part of the project must finish on time to avoid delay (Critical Path)
  4. The possibility of shifting resources to critical path of project from Non critical path
  5. Where management should concentrate its efforts at any time among other part of the project

 

 


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Managers are frequently faced with complex decisions that need to be made. These decisions often have great impact on the profitability of the organization as well as the decision maker's career. Therefore, it is essential that the decision maker be given the best information available to aid the process of decision making. Hence, ...


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Introduction

This introductory topic gives a synopsis of the theory and practice that are examined in greater detail throughout the rest of the subject. The use of HRM is concerned with all facets of how workers are engaged and controlled in organizations. The areas treated in HRM as a subject include strategic HRM, human capital management, corporate social responsibility, knowledge management, organizational development, human resource planning, staffing and selection, and capacity management, employee performance appraisal, training and development, reward management, industrial and employee relations, and health and safety.

HRM concepts, theories and practices have been drawn from the behavioural and management sciences. These underpinning theories have been built with help of a multitude of research projects. Hence, the rationale and objective of this section are to present a general introduction to the practice of HRM. It covers the definition of HRM, functions of HRM, the characteristics of HRM, the growth of HRM as an approach to managing people, the essence and importance of HRM. The topic engages in a short discussion of the theme of personnel and HRM, and in particular, examines to what extent there may be distinguishing features between them. Also discussed are: the scope of HRM, the status of HRM in the organizational setting, types of personnel that should work in HRM and their skills, changes occurring in Human resource management environments and future of HRM


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Learning Objectives:

After studying this topic, the reader should be able to know about:

  • Investment evaluation techniques
  • Capital investment techniques,
  • Other variables that affect investment appraisal techniques
  • Summary and conclusions

Revision Questions

Introduction

Investment contemplation is a long-term consideration and decision where expenditure and investment options are balanced in the expectation that investment now will generate extra returns in the future. There are similarities between short-run and long-run decision-making, for example, the option between alternative, the need to consider future costs and income and the significance of incremental alteration in costs and incomes, but there is an added obligation for investment decision, since the added worth of money invested must be measured (Lucey, 1996).

The purpose of the topic is to examine the wide range of criteria for evaluating the usefulness of investment evaluation method and describe the ways inflation and taxation affect project appraisal.

The investment evaluation methods could not give a quantitative analysis which gives a firm foundation from which a considered decision can be made, based on three major factors (Pandey, 2007) Viz:

  • The shareholder’s confidence in the prospect of the enterprise. The belief would be based on forecasts of internal and external factors including costs, revenues, inflation and interest rates, taxation and numerous other factors.
  • The alternatives available in which to invest. The various methods to appraise competing investments would be adequately covered in this study.
  • The investor's attitude to risk. Because investment decisions are often on a large-scale investigation of the investor's approach to threat and the project's uncertainty are critical factors in an investment decision.

In order to handle these decisions, (Pandey, 2007) stated that top management of firms has to make an assessment of the size of the outflows and inflows of funds, and the effects of such decision.

Although the absolute result would be made by management the analyst assesses the alternatives available, analyzes the data using the most appropriate techniques and present the results of the exercise to management in the hope that better decision is made (Lucey, 1996).

The rest of the paper is structured as follows:

  1. Investment valuation techniques
  2. Capital investment techniques,

iii         Other variables that affect investment evaluation methods

  1. Summary and conclusion.

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Introduction

An organization subsists based on the efforts of both the owners and the workers who are the leading movers of the set activities of the entity. The two parties co-exist and work together in the day-to-day business of the organization. The above situation in the place of work entails that there is distinct rapport linking the employer and the human resources. Such two parties in the organization embrace in the proper relationship, which is entirely for set function. Therefore, the relationship between the company and the staff is contractual in the environment, which is that of master-servant relations. The effect of this is that industrial relations as a term hold all features of the relationship between the entity and workers groups (trade union and the management) during the course of organizational operations.

Fundamentally, industrial relations from the foregoing cover all features of employment relations amid the employer and the employees in organizational operations. Hence, it relates to an agreement between the employer and the workers, regulation of conditions of service, collective bargaining, management of strikes, industrial democracy, and organization policies on how to relate on a mutual basis with individual staff and their trade unions on the path of organizational operations.

In this initial section of the course, the conceptual framework, the theories of, and the major parties in industrial relations such as the trade unions, the employer and the government are discussed.


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