Project management report Essay Example | Topics and Well Written Essays - 2000 words

Project management report - Essay Example 16, Rawls, 2001, p. 18; Relu & Mihaela, 2009, p. 349). This paper explores the need for project management that will help strategically put direction on how these changes sought by the government be systematically developed and implemented. Considering the magnitude of impact of the program and the project, the researcher proposed that this should not be simultaneously undertaken (e.g. construction of the super penology first before conduct of actual closure to ascertain that there is proper transfer of reformatory site for criminals or prisoners) to ensure that there is clear financial resources that will support the changes sought and to have concrete project management structure as framework for both program and project implementation (Tittle, 1974, p. 385). Introduction The penology is part of the social justice system. Guilty offenders are held put behind bars to make them accountable under criminal justice processes; it is an integrated art of redistributing justice as well as to help rectify and reform an offender’s wrongdoing through punishment (Robinson, 2005, p. 8; Miller, 1999, p. 20). ... prisons that will displace thousands of prisoners and how it will deal with human resources that will be negatively impacted with this introduced program (Bent, 1989, p. 2). This paper will discuss project management and its application and correlation to recent problem at hand that will affect the Ministry of Justice and the rest of the stakeholders of penology. Background to the project England is about to close seven of its prisons and two others will have partial closure which will loss 2,600 places and could save an estimated ?63m operational budget per year (BBC News, 2013, p. 1). Responding to questions on the implication of these closures, the Ministry of Justice however assured that super prison with 2,000 places will be built in London which is targeted as 25% bigger than Britain's current facility (BBC News, 2013, p. 1). It is reckoned that in 2009, the parliament scrapped its plan for three 2,500-place Titan prisons (BBC News, 2013, p. 1). Authorities bared that aside fro m super prison, mini-prisons house blocks at Parc in south Wales, Peterborough in Cambridgeshire, the Mount in Hertfordshire, and Thameside in London that will accommodate 1,260 (BBC News, 2013, p. 1). MoJ announcement came following government bared plan to permit the private firms and charities to supervise low-risk offenders on probation in England and Wales (BBC News, 2013, p. 1). About 1,177 prison staff will be affected of this prison closure and will be redeployed and be offered of voluntary redundancy (BBC News, 2013, p. 1). The penology centres in Chelmsford and Hull, will also affect 854 staff (BBC News, 2013, p. 1). The court is however yet to translate its strategy of â€Å"custodial estate is to ensure that we have sufficient places to meet the demand of the courts whilst

The Law of One Price - Purchasing Power Parity Assignment

The Law of One Price - Purchasing Power Parity - Assignment Example Multinational companies operating in countries such as those may be faced by risk emanating from their trade especially when there is a drawdown as well as repayment of Import/ Export Forex Loans in addition to disbursements of import/Export Bills denominated mostly in foreign currencies. Such companies will also be faced with risk emanating from Inward/Outward Remittances which are also denominated in currencies from other countries. There is also risk coming from overseas dividends that are arising from repatriating profit from overseas back home as well as operating expenses of overseas such as paying employees working in overseas. Lastly, foreign exchange risk may emanate from assets held in overseas countries such as excess cash balances of subsidiaries operating in overseas together with overseas liabilities that may result from the borrowing of foreign currency (Sharan, 2012). These fluctuations in foreign exchange rates may trigger changes in the value of the cash flows, liabilities and assets, particularly when they are denominated in foreign currencies. This means, therefore, such fluctuations may adversely affect a company’s outgoing import disbursements and incoming export funds. This is why management of foreign exchange risk is very important since it can help in minimising the risk or maximising the firm’s profit (Berg, 2010). A managed floating exchange rate is crucial for not only economic restructuring but also optimization of allocation of resources. This is because an exchange rate symbolizes price relations that exist between non-tradable and tradable goods and services. A regime of managed floating exchange rate improves the effectiveness of resource allocation, direct resources to the economic sectors that are mainly fuelled by domestic demand, for instance, the services sector, promotion of industrial upgrading, transformation of the economic pattern development, reduction of trade imbalances together with over-reliance on exports, all these stimulate economic demand to have an influential role in economic development and hence leads to promotion of balanced and sustained economic growth.