Archive for July, 2011
Shed Project Planning – Important Aspects
Posted by in Project Planning on July 9, 2011
Having a shed in your backyard is a great idea and can offer many great benefits. An outdoor shed can be used for storage, an alternate office, a kid’s playhouse, a rec room, guest house or whatever else you could come up with. Although building an outdoor shed can be very easy, it’s important to a have a good shed plan and properly plan your shed project. There are a number of different aspects to look into before any construction should begin.
The first thing you would need to look into would be to check at your local courthouse to see if any permits are needed. These are usually fairly easy to get and wont cost very much either.
The area of land where you would like to have your shed must be surveyed to ensure there are no underground pipes or gas lines. You can check this by simply looking at the property plans and verifying. Building above any lines or piping could possibly cause serious damage and problems. A busted pipe could flood your entire yard and warp your shed for example.
Choosing a shed plan that is very well designed and had thought and time put into it will make your shed ten times better and stronger. You can find shed plans online and many of theme come in packs with building guides and such. These shed building guides are extremely helpful for anyone who is looking to build a shed and its a good idea to take a peak at least and see what you think.
The foundation is also a key part to the success of your shed. It serves as the base for the entire project and provides support and stability. Without a foundation a structure such as a shed or any other structure would be unstable and unbalanced. This would eventually cause many problems down the road. Preventing this with a foundation is very easy. There are a number of different choices for shed foundations. Some examples are, deck tier foundation, cement or cinder block foundation, the common cement slab foundation, or even a simple gravel foundation. The foundation that provides the best stability and is the least expensive to build is the stone or cinder block foundation. All that is needed is 9 blocks and your base beams. Read the rest of this entry »
Project Management: An Introduction
Posted by in Project Management Triangle on July 9, 2011
A Project is a unique undertaking to reach a strategic objective it has a defined begging and end. Resources like staff and funding are allocated specifically for the length of the project. Once completed it should then become integrated into the normal day to day activities of the business. In order to reach a strategic objective A program need to be designed whereby there will be a portfolio of related projects. All individual projects will have their own individual timescales and budgets all being part of the overall project targets.
The program is part of the organisation’s Mission and is part of what the organization does now and in the future. It tends to be ongoing, receives ongoing funds and it has people to attend to it in ongoing basis. Executives are responsible for program Management they mainly aim to manage the inter-relationships between various projects, where appropriate including the management of shared resources, conflict resolution, high level reporting and many other issues. Keeping in mind that the key to program Management is co-ordination and ensuring that those involved in individual projects understand the overall aim of the organisation. Moreover, every project has constraints. The primary constraints are the tradeoff between time, cost and quality. These are often referred to as the “Project Triangle”.
There are four phases for any project (Identified by Gido and Clements)
Phase 1: Identification of a need where there will be an understanding of a feasibility study to decide whether to go ahead with the project considering all alternative solutions.
Phase 2: Development of a proposed solution The most appropriate solution to satisfy the need should then be chosen.
Phase 3: Implementation setting standards for everything that needs to be delivered. Actual performance can then be measured against standard.
Phase 4: Completion Evaluation through selected review and audit of project performance. Continuous Improvement through feedback also known as Total Quality Management (TQM).
A Successful project would have many attributes. It would mostly require the consideration of stakeholders to take ownership of the project and indentifying the role of key stakeholders. Setting of objectives and Identification of the required resources and any limitations or constraints within resources. A time-scale agreed for completion where quality requirements are identified and measured. A financial plan, risk assessment and scenario planning. A project Manager with leadership and communication skills with a Project team. On the other hand, uncertainty is the only factor that is impossible to evaluate because it is impossible to assign probability to an uncertain event. Although a Management Control system is a powerful technique in Project Management it may only reduce the affects of Uncertainty. Therefore, I would recommend Contingency Planning which involves considering alternative actions should uncertain events occur, although it may never be used it is useful to have in place. Read the rest of this entry »
From the Perspective of an Angel Investor
Posted by in Investor Funding on July 9, 2011
One of the ideal ways to begin a search for startup funding offered by angel investors is to view the process as if you are one. Investors have plenty of money they are willing to invest in new businesses, but they will first want some assurances that risk is as low as possible given that new companies have an inherently higher risk to begin with. If you imagine yourself as the investor, then the risk becomes much easier to assess in advance while searching for business funding. The first step is to insure you provide answers in the business plan to what would be logical and normal questions about risk.
Any business plan that is prepared for the purpose of finding business funding can use this approach. It doesn’t matter if you are looking for equity partners, angel investors or venture capital. Read your business plan with a critical eye and ask yourself if you would be inclined to approve funding if it was your own money at risk. If you follow a typical business plan format, you have covered the obvious issues like marketing and profit projections, but have you really thought through the plan in the same way a funder would?
It’s difficult to be objective when you have a great idea for a new business, and you believe that it will take the market by storm. Yet it’s important to remember that no one will fund your business until the business concept and plan have been thoroughly scrutinized. Considering your request for funding from the viewpoint of the angel investor can help you keep a sharp edge on the proposal so that it remains focused and on target.
Ask the Question: Am I the Only Investor?
Pretend you are an angel investor who has been asked for money for an untried business. The first questions that will be asked include the following.
· Are there other types of funding that would be more suitable for the business?
· Are business loans an option?
· Has the entrepreneur been searching for funding for a long period of time?
· Have other investors shown an interest in the business?
· Could the risk be minimized by bringing in multiple angel investors?
· Can the entrepreneur prove he or she is qualified to operate this business and able to provide a well developed business plan? Read the rest of this entry »