Quantitative Risk Assessment Essay Example for Free

Quantitative Risk Assessment Essay For the project of redesigning packing for the Canadian market, quantitative risk assessment plays an important role. Quantitative risk assessment is, â€Å"A process for assigning a numeric value to the probability of loss based on known risks and available, objective data†¦ used to determine potential direct and indirect costs to the company based on values assigned to company assets and their exposure to risk† (InvestorWords.com, 2014). For this particular project, quantitative risk assessment will be useful in determining not only which are areas of potential risk, but also to what degree these risks may affect the overall integrity of the project. Revised Project Background The project of the redesign of packaging for the Canadian market currently consists of four different product lines including Dial, Tone, Right Guard, and Dry Idea, and consists of over 50 variants spanning the four lines. Each new packaging design is independent of every other thus there exists no interdependency from design to the next. Each design observes a similar path consisting of initial review of changes, alterations, and additions by management, marketing, and the design team, initial layout of established changes by the design team followed by a first round review of changes by marketing, legal, management and compliance. If additional changes are required, a second round of design and review is implemented up to two additional rounds as needed. Upon successful acknowledgement of new designs, the artwork is then sent to our preproduction team for development to printer-ready artwork. Once completed, the artwork is sent to a third party production house for mockups to be created to be sent to the parent  company in Germany for final approval. If any designs are rejected (and they never are), commentary from Germany is implemented into further redesign and the process is restarted. Upon approval from Germany, artwork is submitted to the printer. Printer will then submit print-ready, color-calibrated proofs for final approval. Proofs are reviewed by management for final approval before actual printing. Once printed, packaging is sent to a fulfillment house to have labels applied to containers and filled with product or have wraps applied to soap bars. Upon completion of fulfillment, finished product is shipped to various holding facilities in Canada for final disposition. As previously stated, project will span eight months from inception to final delivery. Risk Identification Framework Management Delays: As the majority of the work for this project involves objective changes and adjustments to existing packaging, the first phase, initial review by management, involves nominal risk. Management will evaluate and select which products will receive updated treatment for inclusion into the Canadian market. Once the products are selected, management has no further involvement outside of potential cancellations of various packaging designs or their requested involvement during a particular phase of completion. Design Delays: As this project includes approximately 50 variants of packaging including labels and wraps, production must be coordinated to allow for enough time for completion of initial layouts and any necessary revisions, while taking into consideration the design needs and time constrains on the design team from other departments and for other projects running concurrently. While the project has a timeline of eight months, final design layouts must be approved and ready for preproduction within the first four months of the project. The in-house design team will complete the bulk of the design phase of the project, though external design agencies may be utilized if time constraints are threatened. It should be noted that the use of external design agencies would incur additional costs. Also, the design process will require an initial review before being released to the review team for official review, to ensure all parameters have been incorporated. Review Delays: This area constitutes the bulk of all potential delays. While each packaging component is independent of one  another, the review process for each component must be completed sequentially among the review team. There are five departments that will review each design layout and either approve or denote changes. Some of these potential changes are subject to additional changes or cancellations by other departments, meaning the first team may indicate several changes that the third team can then override if the indicated changes are deemed unnecessary. Also, the number of rounds of review may add potential delays to the overall project. Another potential area of delay exists with the timely completion of review by the required departments. Certain key staff may be unavailable to review a packaging design during a given time period. To circumvent potential risks, each member of the review staff will have two alternative staff members capable of reviewing each package design. Should no staff members be available to review, the particular review component is submitted to the manager of the appropriate department for their review. This becomes a last-resort scenario in that traditionally, managers indicate changes that exist outside the scope of the project. Review delays present unique difficulties in that not every team member provides feedback as to their daily availability. Pre-Production and Printing Delays: The preproduction team will transition the artwork from its final design to printer-ready artwork. There is typically no risk for delay in this area. The printer will then produce a final round of art proofs calibrated to their individual presses. One round of revisions is already assumed and build into this process. Additional revisions are not typical though can present a nominal risk. Corporate Delays: While exceeding unusual, corporate can play a small role in delaying a project by canceling one or more packaging designs, adding addition package designs above and beyond what management has previously approved, or by simply delaying the provision of final approval on all finished designed submitted. While these scenarios are unlikely, they do represent the extreme limit of delay-related risk in that they can affect the project for an indeterminate amount of time. Qualified and Quantified Risk Matrix Review Delays Reduce Risk Consistent communication with key reviewers. Engage alternate reviews if primary reviews are unavailable. Enlist managers is alternate reviewers are unavailable. Greater than two days review time by each responsible team member. Project Manager Pre-Production and Printing Delays Reduce Risk Constant communication with pre-production team and printer will reduce or eliminate risks. Buffers in timing are already built into production times. Delays indicated by pre-production team or printer. References Cooper, D. F., Grey, S., Raymond, G., Walker, P. (2005). Project risk management guidelines: Managing risk in large projects and complex procurements. West Sussex, England: John Wiley Sons. InvestorWords.com. (2014). quantitative risk assessment. Retrieved October 1, 2014, from http://www.investorwords.com/19179/quantitative_risk_assessment.html Loch, C. H., DeMeyer, A., Pich, M. T. (2006). Managing the unknown: A new approach to managing high uncertainty and risk in projects. Hoboken, NJ: John Wiley Sons.

Free Essays - A Raisin in the Sun :: Raisin Sun essays

â€Å"A Raisin in the Sun† is set at in an area where racism was still occurring.   Blacks were no longer separated but they were still facing many racial problems. The black Younger family faced these problems throughout the play.   The entire family was affected in their own way.   The family has big dreams and hope to make more of their poor lives.   Walter, the main character, is forced to deal with most of the issues himself.   Ruth, his wife, and Travis, his ten-year-old son, really don’t have say in matters that he sets his mind to.   Beneatha, his sister tries to get her word in but is often ignored.   Lena (Mama) is Walter’s mother and is very concerned about her family.   She tries to keep things held together despite all of the happenings.   Mama’s husband had just recently died so times seemed to be even harder.   They all live in a small apartment when living space is very confined (Hansberry 1731).   They all have dreams in which they are trying to obtain, but other members of the family seem to hold back each other from obtaining them (Decker).      Walter has a steady, but low paying job and wishes that he could do more for his family.   The money he makes hardly provides enough for his family to survive.   He is constantly thinking about get rich quick schemes to insure a better life.   He doesn’t want to be a poor back man all of his life and wishes that he could fit in with rich whites.   He doesn’t realize that people won’t give him the same opportunities, as they would if he were white (Decker).   Walter feels that he needs to provide more for his family and starts to ask around on how to make some money.   He gets the idea of opening up a liquor store and has his heart set on it.   Because he wants to please everybody he loses his better judgment and acts without thinking of the long-term effects.   He is ready for a change and feels the store will bring his family a better life (Hyzak).   â€Å"Mama, a job? I open and close car doors all day long.   I drive a man around in his Limousine and say, Yes, sir; no, sir; very good sir; shall I take the drive, sir?   Mama, that ain’t no kind of job ... that ain’t nothing at all† ( Hansberry 1755).

Brief History of BMW Essay

BMW began making its mark on history almost 90 years ago. Aircraft engines were the first thing to be produced followed by bikes and then cars – these vehicles also have been setting milestones in the area of motorsport from the very start. We can establish BMW roots back well over 100 years, to December 3, 1896. That date marked the formation of Wartburg works in Eisenach, the BMW manufacturing center for all cars made from 1928 to 1940. From that site and Wartburg’s numerous alliance before being sold to BMW in 1928 stretched activites as diverse as saucepan manufactured, powered mountain bikes, and the brake company. The car-construction tale of the Eisenach arm is the subject of a sub-sequent chapter. ( Airborne Excellence- page 5) However, basics of the heartland Munich-based company arrived in 1916 when the two airplane-engine manufacturing workshop Gustav Rau GmbH and Rapp Motorenwerken GmbH) were subject to takeovers and closures that resulted in the March 7, 1916 registration of Bayerische Flugzeugwerke AG (BFW). Its purpose as stated in the Munich Register of Companies â€Å"the manufacture and commercial distribution of airplanes and any related machinery, equipment and other objects, and further, in the pursuit of this purpose, the founding of other enterprises in any legally permissible form, or participation therein, and also the running of companies of any sort†. When Franz-Joseph Popp took over Karl Rapp as the new managing director on 5 October of 1917, he register the company as the Bayerische Motoren Werke GmbH. At the same time Poppo registered the company’s trademark, which still remains today- the stylized whirl of a rotating propeller surmounted by the letters BMW. (Achievements in White and Blue BMW in Retrospect- page 8) In 1917, BMW’s first aircraft engine was produced, the 6 cylinder Type IIIa. In 1919 using an aircraft powered by its successor, the Type IV, Franz Zeno Diemer set an altitude record of 9,760 metres. After WW1 BMW turned all kinds of activities, including shoe-making, to survive, But Popp and Friz were engineers, first and foremost, and there was no doubt that BMW would return to aero engine manufacture. (Motorcycle Marvels- Chapter2). In 1923 they enter the motorcycle production as a result. The motorcycle, the R 32 produced 8. 5 horsepower at 3300rpm from its flat-twin engine. The 2-cylinder 494cc motorcycle could reach a top speed of 59mph. 090 of them were manufactured during its three year life span. It was 1928 that made history in terms of the BMW car. BMW buys the Eisenach automobile plant, where the Austin Seven was successfully produced under the name â€Å"Dixi 3/15 PS†. Later it rebadged them to DA2. Which further went on to become a BMW – going on sale in 1929 as the BMW 3/15 PS DA 2 with a range of different body shells. A small car with a lot of appeal, its popularity helped the company to survive the lean years of the Depression. By 1932 BMW’s first â€Å"real† car (AM 4) went into production, this model was the successor of the Dixi and the first production car to be built totally in house by BMW. The model had a 50 mph top speed, 4 cylinder engine with suspension valves and double driving camshafts. In 1936 a sporting legend was born when the BMW 328 went on to win at the nuburging, which was basically the fastest standard-production 2-liter sports car. It went on to win over 120 other race between 1936 and 1940. BMW became a priority target during World War 2 and reaped a terrible reward for its famous aero engine and military prowess. The BMW factory at Munich was totally devastated after the War. The first post war model, the V8 equipped 501 luxury sedan produced in 1951 was a poor production choice for a country that was also devastated by the war. Demand was low and the 501 did not even com e close to meeting BMW’s expectations. So in a tightrope act between two extremes, to prevent the company bleeding to death at the top end of the automobile market, BMW’s policy was to introduce mini cars at the other end of the market. The BMW Isetta finally won the hearts of the public. Just 2. 29 m long, the company obtains the licence to build the motocoupe from ISO in Italy. Powered by a 12 or 13 hp BMW motorcycle engine. Over 160,000 people bought an Isetta in the Fifties, making it the best-selling BMW of the decade and a symbol for the boom years after the war.

The Minneapolis Domestic Violence Experiment - 1198 Words

Introduction Looking at what we know about the prevention of domestic violence and studies that have led to more affective practices in eliminating and preventing domestic violence with repeat offenders. The Minneapolis Domestic Violence Experiment, was just that an experiment by police to determine the effects of arrest versus separation of individuals involved in a domestic dispute. The Minneapolis Domestic Violence Experiment also led to experiments in other cities including Omaha Nebraska, Miami Florida, Charlotte North Carolina, Colorado Springs Colorado, and Milwaukee Wisconsin, and were directed by Sherman. These five SARP experiments followed the Minneapolis experiment model closely enough to allow valid comparisons. The MDVE has†¦show more content†¦(American Bar, n.d.) The MDVE is most noteworthy because (1) It was the first controlled field experiment in which police officers’ responses to a problem were decided by random assignment rather than officer discretion. (2) It was a major contributor to a nationwide response to the enactment of making arrest the preferred method in domestic cases. (3) The findings were conclusive to enacting â€Å"common sense† on the issue, also the National Institute of Justice funded its only major initiative to confirm the research on the Spousal Abuse Replication Project (SARP). (What When How, n.d.) There was a time when people started to take note of family violence going on in the United States, and was no longer looked at with a blind eye. The MDVE began at an opportunistic time because of the strong push for domestic violence to be seen as a problem, and for victims to be heard. The MDVE led to probable cause arrest for domestic dispute to be possible. Time specific widows were created for police to make an arrest in domestic disputes, in Arkansas you have four hours after the incident without physical evidence to make an arrest, beyond that an officer can issue a citation, an officer has 12 hours to make an arrest in the event there is physical evident that aShow MoreRelatedThe Minneapolis Domestic Violence Experiment1395 Words   |  6 PagesThe Minneapolis Domestic Violence Experiment is also known as (MDVE), was an experiment that evaluated the effectiveness of the police when they responded to domestic violence calls in Minneapolis. This experiment was conducted during early 80’s for over a year by Dr. Lawrence W. 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