The Market Revolution

The antebellum era held many beneficial innovations for the United States. The Market Revolution led to improvements in both travel and technology that guided America to become a more productive nation. More opportunities became available to all Americans which led to growth and prosperity of the people. The Market Revolution was beneficial to America in every way possible. When the term â€Å"Market Revolution† is heard, the first thing many people associate it with is Eli Whitney’s Cotton Gin. Whitney’s invention was the first major innovation, revolutionizing both northern manufacturing and southern agriculture.Since the job was previously done by hand, the cotton gin produced a higher supply of cotton at a faster rate. Cotton grew from 750,000 bales per year in 1830 to 2. 5 million bales per year in 1850. America became a major supplier of cotton for the British and provided two-thirds of the world’s cotton supply. The cotton gin was among the most ben eficial innovations in the antebellum era. Whitney also invented interchangeable parts in 1797 that provided easier compatibility of different parts of muskets. Many manufacturers soon began using his invention for their own benefits.Because of the large success of his innovations, Eli Whitney was a very important figure of the Market Revolution. Richard Fulton’s invention of the steamboat revolutionized water travel in the early 1800’s. Steamboats were able to travel up and downstream requiring little or no effort from those onboard. Mariners could leave port any time because they did not have to rely on winds to get them to their destination. Shipping was much cheaper and easier for the Southerners because they did not have to ship products around Florida and up the Eastern seaboard because steamboats had the power to travel up the Mississippi.Buffalo robes, cotton, rice, and other products could be shipped via the Mississippi River. From John James Audubon’s Missouri River Journals, he explained how â€Å"They had ten thousand buffalo robes on the four boats;† (282). The Market Revolution made water travel easier, which greatly enhanced trade and the economy, therefore benefiting all of America. The Erie Canal was the first of many canals in the North that made water travel much easier for Americans. The part of the canal being built in the town of Lockport was said to be â€Å"seven miles in length, and partly through solid rock, at an average depth of twenty feet. (279). Thought the canal was not very wide and deep, it made trade easier between western farmers and eastern manufacturers. The canal was very beneficial to the northern residents of America because the North was a more modernized and urban place than the South, relying heavily on trade with the west. The South had no needs for the canal due to their farming capabilities. Southerners relied on Atlantic shipping to receive goods and transport cotton to the North. By 1840, one million barrels of flour were being shipped via the Erie Canal.The Erie Canal was a great innovation that showed progress of development in the nation. Water travel was not the only way of travel revolutionized during the Market Revolution. Land travel was greatly improved by the first railroad being built in the late 1820’s. It was a quicker, cheaper, and much easier way of transporting goods. Railroads could get you from one place to another in a very short amount of time, therefore being â€Å"very pleasant to people in a hurry. † (280). In the 1840’s, there was the same length of railroads as there was canals, therefore railroad travel was becoming very popular in America.In 1860, eleven different widths of railroad tracks were being used, limiting the use of various trains on various tracks. The problem was later fixed giving trains more places to travel. Railroads gave the people of America an accessible way to find success. In Lowell, a small to wn outside of Boston Massachusetts, a factory was built in 1823 called â€Å"Lowell Mills. † The factory produced over one-hundred times more yards of cloth from 1815 to 1840. The social system regulated by the manufacturers was of interest to many people living in the area due to their system of wages.Lowell Mills employed mostly young women and paid them a decent salary. Though they were paid more than the average women, it was still less than most men. Women’s educational and work experience combined made them more obedient than their superiors wished, thus resulting in many women protesting the decrease in wages. Josephine L. Baker explains â€Å"the money we earn comes promptly; more so than in any other situation;† (293). The Lowell System greatly enhanced the employee to company relationship, resulting in a greater range of opportunities for women as well as increasing Americas’ cotton supply.In 1838, a man named John Deere invented the steel plow in Grand Detour, Illinois. Many farmers in the Great Plains used the device to their benefit because it quickly broke tough soil. Rich soil in the Middle West caused the wood plows to break, therefore Deere knew steel would be a good alternative. Farmers were able to provide more crops for their consumers and family. By 1855, Deere’s factory sold more than 10,000 plows. John Deere’s innovation led to a great array of farming equipment, which greatly benefited all Americans during the antebellum era.Bigger cities and the improvements in transportation attracted many immigrants to America. They saw an opportunity to make money without having to invest in any land. Many American families turned to immigrants for cheap labor during the Market Revolution as well. Neither the German or Irish were treated as equals with Americans, but the German were generally more accepted in America than the Irish. John Francis Maguire explains that Irish immigrants â€Å"were generally po or, and after defraying their first expenses on landing had little left to enable them to push their way into the country. (297). Though the immigrants were not treated fairly, they were all in search of the American dream. Many immigrants found success in America and helped revolutionize the industries during the Market Revolution. The Market Revolution made everything easier for Americans as well as gave many immigrants and women success. America showed progress in becoming a more powerful and independent nation during this period. All of America benefited from the different innovations such as the cotton gin, telegraph, and new methods of travel. It was clear that America was on the path of success. The Market Revolution The Market Revolution and the Changes in Women’s Work (Nancy F. Cott) †¢The essay starts off with a quote by Martha Moore Ballard: â€Å"A woman’s work is never done. † -60 years old -Housekeeper and domestic manufacturer for a working farm -Baked and brewed -Pickled and preserved -Spun and sewed -Made soap and dipped candles -Trusted healer and midwife (delivered more than a 1,000 babies) -Very typical in the 18th century on the frontier for women to be familiar with various skills. -This helped in building social relationships with the neighbors and also making money. Example: have more skills, build more contacts, make more money †¢The New England economy changed from agricultural and house-hold production base to commercial to industrial. –This change occurred between 1780 and 1835 due to the following reasons: -Extension of the size of the market -Increases in agricultural efficiency -Reduction in transportation costs -Specialization of econ omic function -Division of labor -Concentration of industry -It used to be that subsistence farming and household production for the family was the norm. -Also, some members of the family specialized in different crafts: blacksmith, tailors, and weavers. During all this, merchant capitalism was introduced. -taking risks -supplying capital -searching for markets -attempting to maximize profits by producing standardized goods at the least cost -The aim of this concept was to reach a wider market –Also, I think that that this was not just a way to organize production, but also a way to organize trade. In the beginning it was that workers brought their own raw materials and made the finished product and sold it, but now the worker had to work with a network of people to make the finished product. Market-oriented production helped in the development of manufacturing and the factory system. -Now that people wanted to cater to a wider market, the shops became larger and more special ized. -A place for production vs. A place for selling †¢Within this, there was a â€Å"putting-out† or â€Å"given-out† system. -The merchant would â€Å"put-out the raw materials to be worked up and collected them when they were finished and ready to be sold. -Ex. With cotton, the merchant would buy the raw materials and take it to the rural areas or countryside and get it woven there. This way they avoided guilds and unions.Also, avoided the regulations and set standards of trade. -Most of this work was done by women at home. -This shows the importance of specialization and division of labor that was critical in this era. -Ex. Farmers focused on subsistence farming and now commercial farming. †¢With the manufacturing and factory system, women started working. -During the late 18th century, both married and unmarried women did their primary work in the households. -Ex. Sally Ripley, a tradesman’s daughter in Massachusetts, and in her diary she wrote that father had to go out of city, he put her in charge of the store. The Market Revolution The antebellum era held many beneficial innovations for the United States. The Market Revolution led to improvements in both travel and technology that guided America to become a more productive nation. More opportunities became available to all Americans which led to growth and prosperity of the people. The Market Revolution was beneficial to America in every way possible. When the term â€Å"Market Revolution† is heard, the first thing many people associate it with is Eli Whitney’s Cotton Gin. Whitney’s invention was the first major innovation, revolutionizing both northern manufacturing and southern agriculture.Since the job was previously done by hand, the cotton gin produced a higher supply of cotton at a faster rate. Cotton grew from 750,000 bales per year in 1830 to 2. 5 million bales per year in 1850. America became a major supplier of cotton for the British and provided two-thirds of the world’s cotton supply. The cotton gin was among the most ben eficial innovations in the antebellum era. Whitney also invented interchangeable parts in 1797 that provided easier compatibility of different parts of muskets. Many manufacturers soon began using his invention for their own benefits.Because of the large success of his innovations, Eli Whitney was a very important figure of the Market Revolution. Richard Fulton’s invention of the steamboat revolutionized water travel in the early 1800’s. Steamboats were able to travel up and downstream requiring little or no effort from those onboard. Mariners could leave port any time because they did not have to rely on winds to get them to their destination. Shipping was much cheaper and easier for the Southerners because they did not have to ship products around Florida and up the Eastern seaboard because steamboats had the power to travel up the Mississippi.Buffalo robes, cotton, rice, and other products could be shipped via the Mississippi River. From John James Audubon’s Missouri River Journals, he explained how â€Å"They had ten thousand buffalo robes on the four boats;† (282). The Market Revolution made water travel easier, which greatly enhanced trade and the economy, therefore benefiting all of America. The Erie Canal was the first of many canals in the North that made water travel much easier for Americans. The part of the canal being built in the town of Lockport was said to be â€Å"seven miles in length, and partly through solid rock, at an average depth of twenty feet. (279). Thought the canal was not very wide and deep, it made trade easier between western farmers and eastern manufacturers. The canal was very beneficial to the northern residents of America because the North was a more modernized and urban place than the South, relying heavily on trade with the west. The South had no needs for the canal due to their farming capabilities. Southerners relied on Atlantic shipping to receive goods and transport cotton to the North. By 1840, one million barrels of flour were being shipped via the Erie Canal.The Erie Canal was a great innovation that showed progress of development in the nation. Water travel was not the only way of travel revolutionized during the Market Revolution. Land travel was greatly improved by the first railroad being built in the late 1820’s. It was a quicker, cheaper, and much easier way of transporting goods. Railroads could get you from one place to another in a very short amount of time, therefore being â€Å"very pleasant to people in a hurry. † (280). In the 1840’s, there was the same length of railroads as there was canals, therefore railroad travel was becoming very popular in America.In 1860, eleven different widths of railroad tracks were being used, limiting the use of various trains on various tracks. The problem was later fixed giving trains more places to travel. Railroads gave the people of America an accessible way to find success. In Lowell, a small to wn outside of Boston Massachusetts, a factory was built in 1823 called â€Å"Lowell Mills. † The factory produced over one-hundred times more yards of cloth from 1815 to 1840. The social system regulated by the manufacturers was of interest to many people living in the area due to their system of wages.Lowell Mills employed mostly young women and paid them a decent salary. Though they were paid more than the average women, it was still less than most men. Women’s educational and work experience combined made them more obedient than their superiors wished, thus resulting in many women protesting the decrease in wages. Josephine L. Baker explains â€Å"the money we earn comes promptly; more so than in any other situation;† (293). The Lowell System greatly enhanced the employee to company relationship, resulting in a greater range of opportunities for women as well as increasing Americas’ cotton supply.In 1838, a man named John Deere invented the steel plow in Grand Detour, Illinois. Many farmers in the Great Plains used the device to their benefit because it quickly broke tough soil. Rich soil in the Middle West caused the wood plows to break, therefore Deere knew steel would be a good alternative. Farmers were able to provide more crops for their consumers and family. By 1855, Deere’s factory sold more than 10,000 plows. John Deere’s innovation led to a great array of farming equipment, which greatly benefited all Americans during the antebellum era.Bigger cities and the improvements in transportation attracted many immigrants to America. They saw an opportunity to make money without having to invest in any land. Many American families turned to immigrants for cheap labor during the Market Revolution as well. Neither the German or Irish were treated as equals with Americans, but the German were generally more accepted in America than the Irish. John Francis Maguire explains that Irish immigrants â€Å"were generally po or, and after defraying their first expenses on landing had little left to enable them to push their way into the country. (297). Though the immigrants were not treated fairly, they were all in search of the American dream. Many immigrants found success in America and helped revolutionize the industries during the Market Revolution. The Market Revolution made everything easier for Americans as well as gave many immigrants and women success. America showed progress in becoming a more powerful and independent nation during this period. All of America benefited from the different innovations such as the cotton gin, telegraph, and new methods of travel. It was clear that America was on the path of success.

Opera Critique Rigoletto

The Metropolitan Opera House at Lincoln Center is home for the world’s most creative and talented artists working in opera. Upon entering the building, the vicinity at Lincoln Center is unique and elegant. Approaching the Metropolitan Opera, a stylish and well-structured water fountain full of water is gushing while the off-white marble floor allures the visitor to the building. Entering the building, the glamorous and sophisticated snowflake-like chandeliers and winding staircase gives the visitor a welcoming feel. Before sitting, the visitor will notice the red carpets and the particular set-up of the theater. As the seats are elevated upward, there are sound cushions to promote a higher quality sound on the side balconies. What felt very informative were the captions in front of the seats, that also were available in other languages, to understand the singers. Guiseppe Verdi’s Rigoletto was written between 1850 and 1851. When the stage is first viewed, it is evident the time frame Verdi had written in. Rigoletto, played by George Gagnidze, is a hunch-baked jester that acts out the part very well. Costumes in the play were very detail- oriented and focused primarily on the way individuals dressed in the 19th century. The stage settings were altered according to Act, which represented very hard work and skill. During Act II, Gilda played by Christine Schafer, and Rigoletto join together in a duet that explains the courtship and Gilda’s abduction. The costumes, although could not be seen up close, were elegant for the time period. Rigoletto is dressed during this Act in a white, somewhat formal shirt beneath his regular vest – which was a dark brown, along with white tights underneath knee length shorts. As opposed to how individuals dressed today, it seemed outlandish but well- designed. The opera singers and orchestra had the most contribution to the performance. The pitch and vocals of the performers proved to be rich with character insight. Rigoletto contains a wealth of musical empowerment and melody. As the conductors of the orchestra are observed, it is apparent the time and practice placed into the performance were well spent. Compared to modern music, the orchestra conducted music that was pleasing to the ear that gave a new cultural view of other genres of music. Overall, the performance of Rigoletto at the Metropolitan Opera House at the Lincoln Center was an enriching experience. After only viewed one other play, The Christmas Music Spectacular at Rockefeller Center, it certainly offered a cultural background for the Italian culture. The theater itself was definitely an exquisite and elegant building that often is not found in the local area. The performance was an excellent portrayal of the 18th century as far as costumes and stage set-up while the musical aspect depicted the inspired drama set in Rigoletto. This experience has given an eye-opener to a different genre of music while setting an appreciation for other cultures.

Is There a Need for Constraining or Even Prohibiting the Sale and Use Essay

Is There a Need for Constraining or Even Prohibiting the Sale and Use of Alcohol - Essay Example Hence, those in favor propose that there should be monitored restrictions or absolute prohibition on alcohol consumption whereas the opponents who are in majority recommend that individuals should be guaranteed liberty to consume as much as they prefer. Alcohol consumption is a major factor that contributes to the increasing crime rate. In many countries its involvement can be up to 60 percent to 70 percent. It is one of the common reasons that lead to chaos in the public for example fights on the streets. It adds up figures to the list of sexual assaults, domestic violence, brutal crimes, murders, child abuse etc. Therefore in short, alcohol consumption is one of the leading factors that build up ground for crimes and violent behavior and a fall in its consumption will definitely lead to controlling these wrong deeds. Contrary to this, the opponents claim that sex and violence are two things toward which humans are inclined by nature and alcohol plays no part in bringing the urge fo r it. Alcohol can aid the process but is not a cause for them. The causes for them are biological. Hence whether it is made illegal, violence will continue. The drug laws in the country should be uniform. Addictive drugs like cannabis are made illegal because they affect the human mind, although they result in nearly no violence and crime. So drugs like alcohol should definitely be forbidden because of their immense crime rate. On the other hand those who oppose this stance claim that even cannabis should be legalized because the mainstream knows how to use these drugs securely and maturely. It is an addictive and destructive drug that when taken in large quantities, it completely shatters human lives. People end up with broken marriages, losing jobs, disturbed families, becoming shelter less only because of extreme alcoholism. Sadly its percentage is very high in our country. However, as opposed to this others believe that drinking has been a part of many cultures since hundreds of years. It is a social phenomenon and banning this act is entirely impractical. It is very much correct that if alcohol is banned the government will face huge losses in the tax revenues. However this is not a serious issue. It is because the government is already spending so much on treatment of addicts, illnesses related with alcohol and also on the police department for addressing alcohol related crimes and issues. If alcohol is banned, these spending will also cut down and the losses in tax revenue will be settled. Opponents however believe that alcohol has multibillion dollar industry globally and being a part of it brings huge revenues for the government through taxation and duties. Banning it would bring a massive set back to the governments earnings. Moreover if it is banned, black markets, traffickers, ill legal drug users will continue to flourish and this way the government would lose all its revenues. No doubt that drinking is very common in our country in all age groups and the government earns huge revenues through the industry, it still is a harmful substance for the humans in numerous aspects. It destroys the brain cells and drinkers have 10 percent smaller hippocampi- the part of the brain that deals with memory and learning, as compared to non drinkers. Severe drinking can lead to alcohol poisoning which can cause respiratory

Marketing Mix Assignment Example | Topics and Well Written Essays - 1750 words

Marketing Mix - Assignment Example The Le Bistrot Pierre restaurant chain provides a wide array of dishes to be presented to its customers. It is found that the restaurant provides a wide range of dishes on appetizers ranging from vegetable to non-vegetable dishes. For instance, the vegetable dishes consist of items like tomato preparations, onion soups and mushroom dishes. In the non-vegetarian section the restaurant in the appetizer front presents its customers with items like snail dipped in garlic butter. (Pierre’s Bistro, 2010) The restaurant is widely known not only for its flavored dishes but also for its economical price ranges. It is observed that the restaurant provides two to three courses of lunch at highly affordable rates. The rates charged for the lunch sessions at the restaurant vary between ten to twelve pounds only making it highly attractive from the customer’s side. The customers can even order for a glass of wine before commencing on the lunch at a humble rate of fifteen pounds. (Le Bistrot Pierre, n.d.; Le Bistrot Pierre: Restaurant Views, n.d.; Le Bistrot, 2010). In regards to its distribution parameters the restaurant chain Le Bistrot Pierre has opened up its eight unit in Harrogate, a township in Yorkshire. It is also planning to open up with its ninth arm sometime later this year. The restaurant chain Le Bistrot Pierre claims that its newly opened arm would help attract huge footfalls for the presence of a bar cum dining space. It also states that it is promoting a space for the balcony purpose also in the restaurant. The restaurant chain has other operating units spread along different key areas of United Kingdom. They include areas like Nottingham, Leicester, Derby, Leamington Spa, Stratford-upon-Avon and Sheffield. (Chomka, 2010) The restaurant outlet of Le Bistrot Pierre situated at Leamington Spa is in the center of many shopping outlets and

Schomburg Research Center Visit Essay Example | Topics and Well Written Essays - 250 words

Schomburg Research Center Visit - Essay Example frican American, Catherine Latimer, was later hired and cooperated with schools and social organizations to integrate reading into the lives of the library attendees. They held the first African American exhibition in 1921, making the library a focal point to the growing Harlem Renaissance. In 1923, a librarian, Rose, reported that requests for books on Negros were increasing, as well as the demand for professional, colored librarians (Casper 39). In 1824, Rose organized a meeting and discussed reserving rare books and soliciting donations to enhance their African American collection. Among the attendees was Arturo Schomburg. Arturo Schomburg was a writer and historian from Puerto Rico. Over the years, he had built a collection of art, literature, slave narratives and an assortment of materials on African history. In 1925, the library opened a division specializing in Negro history, literature and prints. In 1926, Schomburg sold them his collection on condition that it remains in Harlem. Schomburg became the curator of his collection in 1932, a position he held until his death (Casper 40). A new Schomburg Center was founded at 515 Malcolm X Boulevard in 1980, and in 1981, the building that originally held the Schomburg Collection became a designated New York City Landmark. The resources available at the Center include the Art and Artifacts section, the Research and Reference section, the Photographs and Prints section, the Jean Blackwell Hutson General section, the Moving Image and Recorded Sound section and the Rare Books section (Dodson et al 74). Apart from conducting research on books, the Center also includes wine tasting activities, black and jazz periodicals, musical recordings and art objects (Dodson et al

Hrm case study Essay Example | Topics and Well Written Essays - 1750 words

Hrm case study - Essay Example Conclusion 9 1.1 Purpose of Report The purpose of this report is to critically analyze the business operations of ‘High Street Heaven’ which is a high street retail store chain that has proved to be quite successful. Owing to the global economic scenario however, the retailer has been experiencing difficulties and facing problems in meeting its strategic goals. 1.2 Introduction The first part of the paper will discuss the problems being faced by High Street Heaven in meeting its strategic objectives, this discussion will be followed by recognizing the areas of strength for the retailer as well its opportunities. In conclusion, the report will put forward applicable plans of action and recommendations that are backed by extensive research and literature to suggest what the business can do in order to address its organizational issues. These recommendations and suggestions will specifically be in the context of how the Human Resources division of the business can contribut e in tackling the challenges being faced by the organization. 1.3 Strategic Objectives of the Business Before the problems and challenges being faced by High Street Heaven are identified it is important to establish the strategic objectives of the business, according to Bartol and Martin (2005) objectives and goals that are said to be strategic are extensive aims that are developed by the top management. Shrivastava (1987) suggests that the importance of these objectives is such that they include fundamental aspects related to the survival of even the most prolific businesses; therefore, the setting of strategic objectives is not only limited to small and medium enterprises but each and every organization, regardless of its size and scale of operations. From a market standing High Street Heaven seeks to focus on growth and expansion by stepping into the markets of 8 major cities in the United Kingdom by 2017. In analyzing the problems and challenges that the achievement of this stra tegic objective faces, it is imperative that the organizational and environmental factors of the retailer that are posing probable challenges should be analyzed. 2. Discussion of findings from SWOT and PESTLE analysis – Problems and Challenges A SWOT helps managers to understand the threats and weaknesses of a business along with its strengths and opportunities (Bartol and Martin, 2006). Anthony (2008) adds that another important tool in the overall assessment of the general environment is that of the PESTLE analysis, which focuses on political, economic, social, technological, legal and environmental factors that have a significant impact not only on the operations of a business but in the achievement of its strategic objectives. As this part of the report focuses mainly on the challenges being faced by the High Street Heaven, the threats and weaknesses of the organization would be assessed first along with an understanding of the shape of its general environment. 2.1 Proble m/Challenge A – The Global Economic Downturn From an external perspective, the business faces the global economic downturn which poses a grave threat to the prosperity of the retailer and its plans for expansion. Sloman (2005) reports that an economy in recession sees minimal growth or no growth and in turbulent scenarios the prevailing economic situation can even cause the overall output to diminish. This certainly is an alarming situation for the high street retailer owing to its primary

How Government Actions Improves Market Outcomes Assignment

How Government Actions Improves Market Outcomes - Assignment Example Such measures included quantitative easing characterized by debt-for-bond swap plan with an objective of keeping domestic markets afloat, among others. Notably though was an increase in margin financing of stock purchases that fuelled an extraordinary increase in equity prices. Following stabilization of equity prices, the government embarked on contractionary measures aimed at ceasing government direct intervention so that the market may adjust to internal market forces, and eventually sustain itself. As pointed out by Frankel, while it appears that the apparent market failure resulted from misguided government intervention in the market, the cause may as well be the unpremeditated plans and subsequently implementation by the China Securities Regulatory Commission to limit the amount that brokerages could put into stock trading. The resulting increase in margin requirements gave rise to a state where economic instruments grew weaker, resulting in the resent crush of the Chinese stock market. The measures undertaken by the Chinese government, even though they seem to have been catastrophic rather than beneficial, were in no way intended to compromise or to further cripple the economy. Measures such as quantitative easing have been proven quite pragmatic in resuscitating downward spiraling economies around the world. However, currency devaluation superficially appears to provide relief to currencies whenever implemented, boosting their respective performance internationally.

The implications of erecting additional Transmissions Lines in New Assignment

The implications of erecting additional Transmissions Lines in New Zealand by Transporter - Assignment Example The act took effect from the year 2011. The NZ government has authority to review the electricity pricing every five years. The government authorized Transpower to carry out the business to improve on the efficiency of power supply in NZ. Revenue collection by Transpower has control by the government for it not to exceed Maximum Allowance Revenue (MAR) (Sankaran, 2006). Transpower Company, however, negotiates with the NZ government for it to finance its operations including expansion of the national grid. The electricity company used its outstanding capital proposal as one of strategies to seek for the government approval to its revenue collection plan. The national grid of New Zealand This refers to the NZ main transmission line for electricity. The grid, owned by Transpower New Zealand Limited covers 11,803 kilometers carrying high voltage lines. The distribution of electricity takes place through 178 substations built by Transpower at different strategic locations all over the cou ntry. The main source of electricity in NZ is hydroelectric. The generating stations lie along large lakes and rivers in the southern region of NZ. The sitting of the stations depends on water availability and the head of water. Reaction turbines and impulse turbines perform well in power generation using water head (Sankaran, 2006). In NZ, most of power demand is in the Northern Island. This means that power transmission over a long distance is crucial hence the necessity of the grid. The grid, therefore, runs across Cook Strait, through the two Islands. Setting out a grid over such a long distance is a costly investment and; therefore, NZ commercial commission has to work in collaboration with the company. After negotiations, between NZ and Transpower, planning of grid expansion and upgrading of the necessary infrastructure took place. The project is to cost $5 billion over the duration of 10 years (Iyer, 2010). Typical power supply system Large generating station Step up transfor mer- Super grid Step down transformer-Grid substation Step down transformer- Grid transmission line (grid switching substation) Primary distribution- for heavy industries Step down transformer- high voltage sub station Step down transformer- for local distribution A map showing National Electricity transmission grid in NZ Source: Best, 2012 History The first hydroelectric power station in NZ was in Bullendale, which lie in Otago. The main purpose of the plant was to provide power at the phoenix-mining centre located about two miles away from the station. This was back in the year 1885. A transmission line linking the generation point and the mining site was necessary making the first ever power grid in the country. The development of other discoveries requiring electricity led to construction of more transmission lines with the first principal grid constructed between 1913 and 1914. The supply voltage in the first transmission lines was 3.3 kv but, as the transmission distance incre ased, transmission voltage increased (Sankaran, 2006). New Zealand has divided electricity business in various stages and assigned each stage to different companies. The stages include, authorized generators, distributors which include the electricity lines companies, retailers who sell the power to consumers, and transmission companies in this case the Transpower. Transpower, therefore, deal with high voltages

Cross Cultural Psychology in the 21st Century Essay

Cross Cultural Psychology in the 21st Century - Essay Example Cultural similarities and differences have to be studied on priority for understanding human behaviour. Travelling is an integral part of cross-cultural psychological research. Unlimited friendship with people from diverse backgrounds and theoretical and practical life experiences that should enable the researcher to think critically, rationally and logically are compulsory for the said research. It is imperative to think less about cultural differences and more about assimilating the cross-cultural psychology into mainstream psychology. Research should focus on adjusting the ideologies and theories to the mainstream psychology, Matsumoto's saying that bilinguals automatically work from two cultural frames depending on the language they speak at any given moment. Knowing more languages enables them to get into multiple personalities and intercultural sensitivity. Most westerners are monolingual and are unaccustomed to cross cultural comparisons. Future developments in research should focus on cultural comparisons. Culture is too magnificent to be captured by one dimension alone and should be understood in its many splendours, also with reference to power and status that affect the culture. Integration of cross-cultural theories into mainstream psychology should be the target. Two research regions should be the intercultural and interpersonal communications and their importance. Culture and the so

Non-Marital Breakups Coursework Example | Topics and Well Written Essays - 1750 words

Non-Marital Breakups - Coursework Example The person’s oral or written narratives explaining their experiences or actions describing characters and events and inferring the meaning and motives in the course of retelling and reviewing the love stories.   Social creatures are faced with two risks, rejection and betrayal when pursuing intimacy. Rejection can occur when the hope-for relationship never develops, cut short, or fails when the other expresses dissatisfaction. Betrayal is insidious, a threat that emerges only if intimacy succeeds-for a time. The other, having the advantage of special information, having gained our trust, turns around and turns on us, revealing our vulnerabilities, badmouthing us, teasing us. Why then do we will hand that very risky unknown our phone number? Why do we have to take heartbreaker one more time?   This involves a mental search for explanations, driven to some extents, â€Å"If only† and regrets. For the leaver and the leave, the end of a relationship is traumatic and triggers a self-protective review of reasons and signs which could prevent future losses.   There are two types of loneliness, emotional loneliness, and social loneliness. The emotional loneliness refers to the isolation, focused on missing one’s intimate partner and losing the unique comforts of that relationship. Social loneliness is disorientation and excommunication one feels when one has lost one’s place and marital status.   After a breakup, the visibility and social activity of one’s ex-exaggerate the individual’s plight. If you have been left, the presence of your ex in your social network suggests that you are easily rejectable. If you are the one who left, your ex may offer testimony to all who would listen to your guilt and betrayal.   

Unemployment Discrimination Essay Example for Free

Unemployment Discrimination Essay The downturn in the economy has resulted in a high percentage of long-term unemployed people. To combat the issue, legislatures are attempting to make it illegal nationwide for employers to post job openings that bar unemployed applicants, and by making unemployment a protected classification. As these proposed laws will impact businesses and how they operate, it is crucial for businesses, human resource professionals, and labor and employment counsel to understand the changing laws and the implications on employers with operations in each affected state. Once a better understanding of the anti-unemployment discrimination issue is gained, employers will be better prepared to comply with the existing and potential laws so as to avoid penalties. Findings will show that there are better ways to deal with the issue as opposed to making unemployed discrimination a protected classification. Research into the issue was derived from the National Conference of State Legislatures, law journals, legal updates, news articles, and statutes. By using these resources, it was discovered that proposed anti-unemployment discrimination laws are failing, that unemployment becomes an issue during times of economic crisis, and that existing federal and state laws already protect people from discrimination with respect to employment-related decisions. Findings from research indicate that there is no one method that can help improve the unemployment rate. Instead of making it illegal for employers to make hiring decisions while considering a person’s unemployment status, the government should work in conjunction with employers by offering incentives and training programs to help reduce the unemployment figures. Shouldn’t employers be able to consider an applicant’s unemployment status without being fearful of accusations of unemployment discrimination? Unfortunately, employers in certain states today can be penalized for refusing to hire job applicants if the hiring decision is based on an applicant’s unemployment status or if a job vacancy advertisement includes language that bars unemployed persons from applying. Within the past two years, New Jersey, Oregon, and Washington, D. C. have enacted legislation that makes it illegal for employers to discriminate against job applicants based upon their unemployment status. Most recently, the State of New York has made unemployment status a protected trait. New York’s law will come into effect on June 11, 2013 (Morea, 2013). The economy and difficulty obtaining gainful employment can be frustrating for a lot of people today, but despite the issue, employers should always be able to select the strongest candidate for a job opening without having to fear allegations of unemployment discrimination. In essence, an employer should be afforded the right to select a candidate with relevant, recent employment history over a candidate that has been out of the workplace for a considerable amount of time, especially where an applicant has an inadequate explanation for gaps in employment. Despite New York’s stringent, pending statute that will authorize an individual to bring a private action for occurrences of joblessness discrimination, similar proposed laws are failing federally and state-wide (NCLS 2013). The failed legislative bills, along with the new anti-unemployment discrimination laws, are discussed at length below. The compelling reason behind the failure of proposed anti-unemployment discrimination laws is that there is strong sentiment that such laws, if passed, may expose companies to lawsuits, which in turn will likely cause employers to become even more selective in inviting candidates for interviews so as to avoid unemployment discrimination suits (Pear, 2011). An employer should always be able to consider a candidate’s length of unemployment as part of its big picture hiring strategy. It just makes business sense. For example, say that Company 2Y, LLP has a job opening in a demographic area where the unemployment figures are staggering. In response to its job posting, thousands of applications are received; however, only one candidate is needed to fill the position. In order to streamline the hiring process, Company 2Y, LLP is going to weed out any applications or resumes where an applicant does not possess recent, relevant experience. In this manner, Company 2Y, LLP is able to cull the staggering numbers of resumes down to those resumes of candidates that are currently employed in the same line of work. By doing this, Company 2Y, LLP will be able to limit the amount of people it invites for an interview, and will be assured it is getting a top-notch employee that is up to par with the latest technological advances and business practices in the given field. In all states aside from Oregon, New Jersey, New York and Washington, D. C. , this hiring scenario would be a legitimate practice so long as the company does not have any protocols in place that set out to disqualify applicants based on a protected characteristic such as race, disability or those candidates that are over age 40. As it stands, people already have laws protecting them from discriminatory practices with respect to employment, so why is there a need to make unemployment a protected characteristic, especially considering that it is a state of being and not a permanent trait such as one’s color, gender, race, national origin, age, or disability. As stated, there are already sufficient laws and administrative agencies such as the Equal Employment Opportunity Commission and local state agencies such as the Department of Fair Employment and Housing and the Department of Labor that are charged with combatting discriminatory animus in employment.

Compensation Strategy In Translation

Compensation Strategy In Translation Seems its a big deal to make up the loss of idiomatic expressions in translating idioms from one language to another one. How can translators come up with this problem? Considering an English novel as the source document and its Persian translations as the target text, we mean to answer this question. Extracting idioms and non-idioms from the first chapter of J. D. Salingers The Catcher in the Rye, is the first step to start. Then we made a comparison of gathered information with their Persian translations by Najafi and Karimi for the next stage. Following compensation strategy by adding target language idioms somewhere in the translated texts by the Persian translators, is an open door to manage the idiomatic loss in their translations. This indicates that, if in any case its not possible to translate a source language idiom as an idiom in target language, the translator can compensate the loss of the idiom by adding a target language idiom to places where there initially was a non-idiom. Key words: English Idiom, Persian Translation, Translation Strategies, Compensation Strategy, Source Text (ST), Target Text (TT), Source Language (SL), Target Language (TL). Introduction: Translation is generally explained as a process in which the translator transfers the meaning of a SL text into TL under the circumstances of preserving the content and accuracy of original text, as far as it is possible. Where there is no equivalent for a SL idiom in the TL, the translator gets throughout compensation strategy to fill this incurred gap. The more skilled the translator is, the better will be the translation. If you are enthusiastic to this issue as we are, this is the paper you can refer to and take your answer. Theoretical Background: Translation Bell (ibid.: 6) argues that a total equivalence between a source language text and its translation is something that can never be fully achieved. According to Bassnett-McGuire (1980: 2), the aim of translation is that the meaning of the target language text is similar to that of the source language text, and that the structures of the SL will be preserved as closely as possible, but not so closely that the TL structures will be seriously distorted. In other words, the source language structure must not be imitated to such an extent that the target language text becomes ungrammatical or sounds otherwise unnatural or clumsy. Idiom: Idioms are the major and natural part of all languages as well as a prominent part of our everyday discourse. Idioms are such a normal part of our language use that we hardly even notice how vastly we use them in our everyday speech and writing. English is a language full of idioms, so, learners of English should be aware of their nature, types, and use. Using many idioms in English language is one of the aspects that makes it somehow difficult to learn for a Persian learner. They can be used in formal style and in slang. Idiom is defined as a group of words which have different meaning when used together from the one they would have if you took the meaning of each word individually (Collins Cobuild dictionary, 1990 edition). Indeed, the meaning of idiom can only be inferred through its meaning and function in context, as shown in the examples below (from Fernando, 1996). bread and butter, as in `It was a simple bread and butter issue (see further below); bless you, which is usually used in the context of cordial expressions; go to hell, which indicates that there is a conflict among interlocutors in an interpersonal contact; In sum, which indicates relations among portions and components of a text. Idioms are a set of phrases have different meaning from its individual parts of the phrases. Sometimes it is hard to recognize the meaning of a phrase just by knowing the meaning of the words including in it e.g. paint the town red is a phrase which has a meaning other than the meaning of its words separately, it means having a good time! Moon (1998, p.4) claims that idiom denotes a general term for many kinds of multià ¢Ã¢â€š ¬Ã‚ word expressions whether semantically opaque or not. Some traditional theories of idiomaticity assumed that idioms are frozen, semantic units that are essentially non-compositional (Hambin Gibbs, 1999, p.26). However, there have been a number of semantic classification systems proposed since 1980 for rating the composition of idioms which basically give differing names to the same concepts (Grant Bauer, 2004). Fernando (as cited in Liu, 2003) developed a scale by which to categorize idiomatic expressions and habitual collocation into 3 categories: pure (nonliteral), semi literal, and literal (p.673). 1. Pure Idioms. Fernando defines pure idiom as a type of conventionalized, nonà ¢Ã¢â€š ¬Ã‚ literal multiword expression (Fernando, 1996, p.36). Pure idioms are always non literal, however they may be either invariable or may have little variation. In addition, idioms are said to be opaque (Fernando, 1996, p.32). For example, Let the cat out of the bag (to reveal a secret or a surprise by accident). 2. Semià ¢Ã¢â€š ¬Ã‚ idioms. Semià ¢Ã¢â€š ¬Ã‚ idioms may have one or more literal constituents and one with nonà ¢Ã¢â€š ¬Ã‚ literal sub sense. Therefore, this type of idioms is considered partially opaque (Fernando, 1996, p.60). For example, middle of nowhere (a very isolated place). 3. Literal idioms. This subà ¢Ã¢â€š ¬Ã‚ group of idioms has limited variance. They are less complicated than two other groups. Moreover, literal idioms are considered to be clear as they can be interpreted on the basis of their components. For example Coming out (to exit; to leave the inside of a place). Translating Idioms: working with English, the translator may easily recognize if an idiom violates `truth conditions, as in `it is raining cats and dogs, `storm in a teacup, jump down someones throat, etc. It may be hard to recognize, if the idiom is not of this nature, and translators may just think of it as an ordinary expression, with the consequence of either losing its tone or losing its meaning. There are two sources which may cause misinterpretation: The first possible source is that there are idioms which can mislead readers/users; they do not sound idiomatic at all, but at a closer look, careful readers would find the hidden idioms. An example given by Salinger in The Catcher in the Rye is `got the axe in the following text: The manager warned me, but I didnt notice, so I got the axe. On the first look, readers may interpret it in terms of a person who took an axe and wanted to do something with it like cut a tree but at a closer look, a careful reader may find out that means to lose the job. The second source of misinterpretation occurs when the words in an idiom have equivalents in the target language (i.e. in Persian) but with totally different meaning. Another good example given by Salinger is the idiom: for the birds. Winter weather is for the birds. At first it may be understood that this sentence means winter weather is good for the birds but it makes no sense because the meaning is really different and it means worthless; undesirable. Strategies used translating idioms Idioms are culture bound and this is another challenge for the translator to transfer the exact meaning and content of SL idiom into TL idiom perfectly. For the sake of solving these difficulties the translator may apply a strategy. Using the appropriate method in this process, the translators can get over the difficulties easily and it is valuable and useful for their works. Mona Baker, in her book In Other Words (1992), defines the following strategies for translating idiomatic expressions: 1) using an idiom with the same meaning and form, 2) using an idiom with the similar meaning but different form, 3) by paraphrase, 4) by omission. (1) Translating an idiom with the same meaning and form: The first translation strategy by Mona Baker is translating TL idiom similar in its form and meaning to the SL idiom. For example: Tooth and nail ((Ø ¨ÃƒËœ Ú† Ãƒâ„¢Ã¢â‚¬  ÃƒÅ¡Ã‚ ¯ Ùˆ Ø ¯Ãƒâ„¢Ã¢â‚¬  ÃƒËœÃ‚ ¯ÃƒËœÃƒâ„¢Ã¢â‚¬   (2) Translating an idiom with the similar meaning but different form: Another strategy suggested by Mona Baker is translating a SL idiom into TL idiom the same meaning but different form. In this case, the translator does not preserve the lexical items and translate as a semantic equivalent. For example: Acid tongue in her head. (Ø ²ÃƒËœÃ‚ ¨ÃƒËœÃƒâ„¢Ã¢â‚¬   Ù† Ãƒâ€ºÃ…’Ø ´ÃƒËœÃ‚ ¯ÃƒËœÃƒËœÃ‚ ±Ãƒâ€ºÃ…’ Ø ¯ÃƒËœÃƒËœÃ‚ ´ÃƒËœÃ‚ ªÃƒâ„¢Ã¢â‚¬  ) (3) Translation by paraphrase: The most common strategy in translation of idioms is paraphrase. Translators often cannot translate a SL idioms as a TL idiom, therefore they use the paraphrase strategy by using a word or a group of words in TL exactly related to the meaning of that idiom in SL which may be a non-idiom. Newmark (1988, p.109) says that while using this strategy not only components of sense will be missing or added, but the emotive or pragmatic impact will be reduced or lost. Still, paraphrase is usually descriptive and explanatory; sometimes it preserves the style of the original idiom as well. For example: On tenterhooks. ((Ù†¦ÃƒËœÃ‚ «Ãƒâ„¢Ã¢â‚¬Å¾ ØÙÅ  Ãƒâ„¢Ã¢â‚¬  ÃƒÅ¡Ã‚ ©Ãƒâ„¢Ã¢â‚¬ ¡ Ø ±Ãƒâ„¢Ã‹â€ Ãƒâ€ºÃ…’ Ø ªÃƒËœÃƒâ„¢Ã‹â€ Ãƒâ„¢Ã¢â‚¬ ¡ Ø ¢ÃƒËœÃ‚ ªÃƒËœÃ‚ ´ Ø ¨ÃƒËœÃƒËœÃ‚ ´Ãƒâ„¢Ã¢â‚¬ ¦ (4) Translation by omission: According to Baker (1992, p.77) omission is allowed only in some cases: first, when there is no close equivalent in the target language; secondly, when it is difficult to paraphrase; finally, an idiom may be omitted for stylistic reasons. This strategy is not used very frequently. In fact, it is not approved by many scholars and some of them do not include it among other translation strategies (Veisbergs, 1989). However, sometimes its impossible to translate a SL idiom into TL, so the translator may use another strategy called compensation. In this strategy the translator omit an idiom and may put another idiom elsewhere in the TL text by preserving the effect of SL idiom. Compensation Strategy: Compensation is a strategy most definitely worth considering, while it can be used as one possible strategy for dealing with idioms and quite an effective one for compensating the loss caused by translating. Therefore, in order to preserve the idiomaticity of the original text and to avoid the mentioned loss, many translators resort to compensation in translating idioms as their final but workable strategy. That is when an idiom is not possible to be translated into TT, a translators last effort is to compensate an idiom by omitting that and putting an idiom in another place, by preserving the usage effect of idiom in the ST. Nida and Taber (1969) mention that, whereas one inevitably loses many idioms in the process of translation one also stands to gain a number of idioms (p. 106). Baker (1992) indicates that in compensation, a translator may leave out a feature such as idiomaticity where it arise in the ST and introduce it somewhere else in the TT (p. 78). In support of this idea, Newmark (1991) suggests that all puns, alliterations, rhyme, slang, metaphor and pregnant words can be compensated in translation. Though he further adds that, compensation is the procedure which in the last resort ensures that translation is possible (pp.143à ¢Ã¢â€š ¬Ã‚ 144). Theoretical framework We agree with Lorenzo, M. et al., in that the first step a translator must take is to clearly define his objective before producing a translation which is as true as possible to the original text. One of the aspects of Hans Vermeers concept of skopos (1989:227) is the establishment of a clearly defined objective or purpose for translation; Any form of translation, including translation itself, may be understood as an action, as the name implies. Any action has an aim, a purpose. The word skopos is a technical word for the aim or purpose of translation. Nidas Dynamic Equivalence In the process of translating idioms, the translator may face many difficulties which is not a simple task to overcome. The major problem is the lack of equivalence in the process of translation. It would be desirable if a translator could find a TL idiom which is the same as that in structure and content of SL idiom. Anyway every language, both source and target, has its own idioms and it may be hard to find the precise source equivalent in the target language. The definition of dynamic equivalence is initially given by Eugene A. Nida in his book Toward a Science of the Translation (Nida, E.A., 1964:161). Nida is an American translator, scholar, teacher, leader, influencer, conceptualizer, innovator, and influential theoretician. Nida argued that there are two different types of equivalence, formal equivalence and dynamic equivalence. Formal equivalence deals with the message, in both form and content whereas dynamic equivalence translation is based on the principle of equivalent effect. The translator is not concerned with the source language message, but rather with the dynamic relationship. Dynamic equivalence connects the target language and culture in order to make messages comprehensible to target language receptors. For instance, if we translate a phrase like two hemorrhages apiece literally into Persian, it will produce a nonsensical meaning for the Persian receptor. Idiomatic expressions may not seem understandable when translated from one language to another. In such cases the equivalence counterpart Ø ®Ãƒâ„¢Ã‹â€ Ãƒâ„¢Ã¢â‚¬  ÃƒËœÃ‚ ±Ãƒâ„¢Ã‹â€ ÃƒËœÃ‚ ´ Ø ¯Ãƒâ„¢Ã‹â€  قؠ¨ÃƒËœÃ‚ ¶Ãƒâ„¢Ã¢â‚¬ ¡ can be used to make it understandable to the receptor. In this view the translator has brought an equivalent which the original author most likely meant. Method: Corpus: The study is based on a contrastive comparison between the two Persian translations of The Catcher in the Rye by Muhammad Najafi and Ahmad Karimi. In this study we tried to achieve which of these translators has followed the compensation strategy in his own translation, and whether they have been successful in this process or not. Gathering the data: Collecting the data, of course, is as important as other stages (like conclusion) and even more important. Because the more accurate the gathered data is so, the more favorable the result will be. Focusing on the process in this study, we long to explain the steps in data collecting, respectively. At the earliest step, we extracted English idioms and non-idioms from the first chapter of the novel, then found their Persian equivalents from two Persian translations by Najafi and Karimi of the same novel. We aimed to know whether English idioms are translated into Persian idioms or not and whether English non-idioms are translated into Persian idioms or not. Then we read the aforementioned translated chapter by two translators several times to clarify if they may be idioms. We looked up English idioms in Idioms Oxford Dictionary, although we had difficulty in recognizing the exact idiom at first. On the other hand, as we are Persian students, it was not hard to find Persian idioms as difficult as English idioms, anyway. But on non-idioms, we considered the most English phrases or sentences which translated as idioms in TL. Maybe you ask why we chose this novel. As you know, of course, this novel is rich in idioms and it makes the work for researcher to access the idealistic results easier. Then we counted the idioms and non-idioms in both original text and its Persian translations by two translators. Table 1. Total Number of Idiomatic and Non-Idiomatic Translations of the Salingers Idioms J.D. Salingers Idioms Total Translation Najafi Karimi 44 Idiomatic 22 18 Non- Idiomatic 22 26 In this table, we calculated the total numbers of English idioms (N=44) which is translated by translators, either idiomatic or non-idiomatic. As you can see, here, Najafi translated more English idioms (N=44) into Persian idioms (N=22) than Karimi. We guess, this table will confirm our claim that Najafi has translated much more skilful than Karimi, because he got use of compensation strategy by adding more Persian idioms than Karimi. Anyway, our purpose is not to compare persons and is just to determine if there is any use of compensation strategy in each of these translations. Table 2. Total Number of Idiomatic and Non-Idiomatic Translations of the Salingers Non-idioms J.D. Salingers Non-Idioms Total Translation Najafi Karimi 42 Idiomatic 42 26 Non-Idiomatic 0 16 This table also illustrated that Najafi translated 42 English non-idioms out of 42 as idiomatic. On the other hand, Karimi translated 26 English non-idioms out of 42 as idiomatic. This table shows how Najafi and Karimi have functioned in translating non-idioms into idioms. By total non-idioms, we mean those which translated as idioms by Najafi and it will be our criteria for counting Karimis idioms and non-idioms. Table 3. Total Number of Different Data Extracted from Both Translations and the Original Text Data J.D. Salinger Najafi Karimi Idiom 44 64 44 Non-idiom 42 22 42 Total 86 86 86 This table confirms that Najafi has translated the novel more idiomatic (N=64) than Karimi (N=44). Classifying the Data: After extracting and counting the total idioms in both original text and its translations, it revealed that translators had applied 3 different translation strategies for idioms. These strategies were: Translating English Idioms into Persian Idioms Translating English Idioms into Persian Non-idioms Translating English Non-idioms into Persian Idioms Analyzing the Data: In this stage, we analyzed the whole collected data and calculated frequency and the percentage proportion of each strategy in the same translations. The results are shown in the tables below; Table 4. Frequency and Percentage of Idioms Translation Strategies Applied by Najafi Strategy Frequency Percentage Translation of idiom with idiom 22 50 Translation of idiom with non-idiom 22 50 Total 44 100 Table 5. Frequency and Percentage of Idioms Translation Strategies Applied by Karimi Strategy Frequency Percentage Translation of idiom with idiom 18 40.90 Translation of idiom with non-idiom 26 59.10 Total 44 100 Table 6. Frequency and Percentage of Non-Idioms Translation Strategies Applied by Najafi Strategy Frequency Percentage Translation of non-idiom with idiom 42 100 Translation of non-idiom with non-idiom 0 0 Total 42 100 Table 7. Frequency and Percentage of Non-Idioms Translation Strategies Applied by Karimi Strategy Frequency Percentage Translation of non-idiom with idiom 26 61.90 Translation of non-idiom with non-idiom 16 38.10 Total 42 100 Table 8. Percentage of each Applied Strategies in both Translations Strategy Najafi Karimi Translation of non-idiom with idiom 100 61.90 Translation of non-idiom with non-idiom 0 38.10 Total 100 100 Results: The results show that both translators, Najafi and Karimi, have applied three strategies in translating idioms: translating English idioms with Persian idioms, translating English idioms with Persian non-idioms, translating English non-idioms with Persian idioms, and translating English non-idioms with Persian non-idioms. One of the translators, Najafi, used more frequently the first and the third (translating English idioms and non-idioms as Persian idioms) strategy in his translation, on the other hand, the latter translator, Karimi, used the second and the last (translating English idioms and non-idioms as Persian non-idioms) strategy more often. Discussion and Conclusion: As mentioned before, its hard to translate a SL idiom into TL idiom regarding the accurateness and the faithfulness of SL into TL. In this stud, out of 44 extracted idioms from J.D. Salingers novel, 22 (50%) of the expressions have not been translated as idioms by Najafi. In the same case, Karimi has translated 18 (40.90%) of the idioms with Persian idioms and the remaining 26(59.10%) idioms have been translated non-idiomatically. This imbalance between the total number of idioms and their non-idiomatic translations causes a loss of idiomaticity in the Persian translated texts. Some of these idiomatic losses have been compensated for elsewhere in the text, since the translators have replaced some English language non-idioms with Persian idioms. By this strategy, Najafi has added 42 idioms and Karimi has added 26 idioms to their translations. We recognized that theres not the exact contrast in numbers of idioms in two languages(SL,TL), but its very common in translation. The translators were somehow successful here in compensating idiom gaps in the TL. Furthermore, they compensated those non-idiom expressions in the original context to function better on their translations. Compensation strategy is considered here as the best to translate idioms, non-idioms and figure of speech as well.

Organisational Risk Management in Project Management

Organisational Risk Management in Project Management CHAPTER 2 2.1 Preview This chapter provides the reader about the theory and rationale behind the use of Organisational Risk Analysis (ORA) on project management and its methodologies available in the market. It will also cover the work of different authors to afford better understanding of the subjected area i.e. Project management, Risk analysis and Organisational risk analysis. The source of information of this literature review is mainly from books, journals and white papers. 2.2 Introduction Through this literature review one can know what others understanding about this study i.e. nothing but historical perspectives. First part of the literature focuses on project management and risk analysis and risk analysis types, second part of this literature focuses on Organisational Risk Analysis (ORA) and Role of ORA in Project management. It mainly concentrates on Project management, risk analysis and organisational risk analysis. 2.3 Introduction to Project Management: PMBOK (Project Management Body of Knowledge as defined by the Project Management Institute — PMI):Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. (PMI 2004) According to James P. Lewis â€Å"The Project management is facilitating the planning, scheduling and controlling of all activities that must be done to achieve project objectives† (James P. Lewis: 2007) PRINCE 2 project management methodology: The planning, monitoring and control of all aspects of the project and the motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality and performance. A project is usually one time activity with a well defined set of desired and results. It can be divided into subtasks that must be accomplished in order to achieve the project goals. In this day and age also it is assumed that project management can be enhanced by scientific methods. There is a very strong reason why these beliefs are created, it all accounts to the fact that todays modern world has given professionals numerous amount of opportunities to execute their projects successfully. Such are the kind of investment options that are given to project investors. They are briefed with all the minute details so that they feel that their investment is secure. They also make sure that the estimated time of completion and the end can be calculated at the beginning of the project itself. The decisions that are taken on a technical basis or which are taken looking at the low opportunity costs that it presents are reversible in nature. The demand for resources can also be calculated once the initial parameters such as the duration and time frame of the project are estimated. Due to the advancement in technology even the most terrible consequences can be predicted. à ¢â‚¬Å"The failure of the project was due to the lack of skills rather than an inappropriate feasibility, suitability or acceptability of the solution. This is a normal–science view of project management.† (Charette and Robert, 1996) The projection of ideas and activities into new accomplishments are one of the common characteristics of all projects. There are many different definitions of what constitutes project management such as â€Å"An unique set of co-ordinated activities, with definite starting and finishing points, undertaken by an individual or a team to meet specific objectives within a definite period of time, cost and performance parameters† (Office of Government Commerce). (Web4, 2009) J. Pinto and Prescott (1990) stated, â€Å"Researchers in project management need to first and most importantly offer a comprehensive, inclusive, and clear definition of project success before attempting to undertake studies of the project implementation process†. (J.Pinto and Prescott, 1990) The modern project management started in 1950s, before this period projects were executed in an unplanned manner and the methods and tools used for execution were not professional in nature. The importance of project management is a very important topic because all organisations i.e. either be they are small or large organisations, those are involved in implementing new accomplishments. These accomplishments may be diverse, such as, the improvement of an innovative product, introducing a new range of products in a manufacturing base, a promotional advertisement or a major construction project. In the 1980s the focus was more on the quality of work. Globalisation played a huge role in the 1990s as we were trying to improve our economy, the 2000s saw projects with decreased time frames. A new field known as project management was developing from all new areas of application which included construction, engineering, telecommunications, and defence. This emerging field has now become an important part of our economy as it has produced a string of fabulous results. Hence it is now being applied by the corporate world as well as the government. Duncan Haughey (2008) explained some main definitions of what project management is: â€Å"Project management is not a continuous process. It has a definite beginning and end.† â€Å"Project management uses various tools to measure accomplishments and track project tasks. These include Work Breakdown Structures, Gantt charts and PERT charts.† â€Å"Projects frequently need resources on an ad-hoc basis as opposed to organisations that have only dedicated full-time positions.† â€Å"Project management reduces risk and increases the chance of success.† â€Å"Successful project management is delivering your projects on time, to brief and within budget.† (Duncan Haughy, 2008) 2.3.1 Methodology of Project Management: According to Bradley (2002) Project management methodology means â€Å"Project Management Methodology focuses on the project and can be in any industry and any type of projects ranging from construction to aerospace industries and from projects of Financial to IT in nature, it encompasses all projects† The above diagram shows the main components of one of the main project management methodology. Some of the elements like project start-up and project closure occur only once. The remaining elements like planning, managing and controlling, form an interactive cycle that may repeat many times before the completion of the project. In other words we can also say project management is the discipline of planning, organising and managing resources to bring about the successful completion of specific projects goals and objectives. Each and every project is different in nature. Any project would involve a certain amount of risk and hence require perfect planning and execution if they have to succeed. The main aim of project management is to predict any complications or problems in the project well before hand so that when the project plan is made all these factors can also be taken into consideration and hence the chances of the project being completed successfully would be much higher. Almost every project we do in todays business world involve a risk of some kind: change in customer needs, unrealistic time scales, inappropriate staff, poor project specifications , failure to manage user expectations could delay the project. Projects need to be performed and delivered under certain constraints. Traditionally these constraints have been listed as scope, time and quality. This is also called as ‘project management triangle. One side of the triangle cannot be changed without affecting others. The time constraint refers to the amount of time available to complete a project, scope refers to what must be done to produce the projects end result and cost refers to the budgeted amount available for the project. Increasing Scope ( Increasing Time + Increasing Cost Decreasing Time ( Increasing Cost + Reducing Scope Tight Budget ( Increase Time + Reducing Scope. If we modify any of the factors, the other two has to be changed, if not the risk may appear high. But formal risk analysis and risk management can help you to assess these risks and decide what action to take to minimize disruptions to your project plans. According to J. Davidson Frame (2007) the basic outline of project management is described below Project managers bear ultimate responsibility for making things happen. Traditionally, they have carried out this role as mere implementers. To do their jobs they needed to have basic administrative and technical competencies. Today they play a far broader role. In addition to the traditional skills, they need to have business skills, customer relations skills, and political skills. Psychologically, they must be results-oriented self-starters with a high tolerance for ambiguity, because little is clear-cut in todays tumultuous business environment. Shortcomings in any of these areas can lead to project failure. – (J. Davidson Frame, 2007) Project management is discipline that applies to any project; every company has their own way of doing their projects. The project management is not very easy it is totally a leadership position and with technical talent it cannot be done. Project manager without enough experience cannot hold for a long-time on the same project if the assumption of the company goes wrong in selecting the project manager it will be in risk. (Sanjay Murthi, Preventive Risk Management for Software Projects) 2.4 Risk Analysis: The word ‘RISK derives from the early Italian risicare, which means ‘TO DARE. (Websters Dictionary: 1989) One of the most important activities in project management is to identify and manage the uncertainties and problems during the project tenure. When dealing with research and development projects it must be made note of that the number of events present are very high which could alter the course of the project The amount of risk involved in the project would mainly depend on the size of the project. The contractors of the project are the people who deal with the risks of the project, their main duties would involve to identify risks. Then they study them and find as solution so that could remove or minimize them. Apart form this they should also have a clear understanding of the different types of risk involved and ways as to how they can be managed and projects can be completed in a risk free manner. (The Owners Role in Project Risk Management National Research Council (U.S.A). Committee for Oversight and Assessment of U.S. the national academic press, Washington DC). A report that shows assets, vulnerabilities, likelihood of damage, estimates of the costs of recovery, summaries of possible defensive measures and their costs and estimated probable savings from better protection. A risk analysis is the process of assessing the level of risk involved, this is also known as a threat and risk assessment. A threat is a harmful act such as the deployment of a virus or illegal network penetration. A risk is the expectation that a threat may succeed and the potential damage that can occur. (Web1, 2009) Risk analysis allows you to examine the risks that your organization faces. It is the process of systematically identifying and assessing the potential risks and uncertainties that occur when trying to achieve a certain goal (like reaching a target income or finishing a project), and then finding a feasible strategy for most efficiently controlling those risks. ‘The systematic process to understand the nature of and to deduce the level of risk. It provides the basis for risk evaluation and decisions about risk treatment. (AS/NZS 4360:2004 (p. 4). According to Michael R. Greenberg †Risk Analysis ranked among the top 10 journals in the ISI Journal Citation Reports under the social sciences, mathematical methods category is designed to meet the need for organization, integration, and communication and provide a focal point for new developments in the field.† (Michael R. Greenberg: 2008) Evidence from the literature suggests that project managers perform risk analysis because somebody else, e.g. their client, the parent company or the Government, has demanded it (Boothroyd, 1996; Smith, 1998). The analysis of risk is being increasingly viewed as a field in itself, and the demand for a more orderly and formal treatment of risk is great. This international journal is committed to publishing critical empirical research, conference proceedings, and commentaries dealing with risk issues. In other terms we can say the measure of risk can be determined as a product of threat, vulnerability and asset value in an organisation. Risk = Asset * Threat * Vulnerability. Risk analysis may play an important role in cost- benefit studies, which compare the costs of a particular action or project against its potential benefits. It is a systematic study of uncertainties and risks we encounter in business, engineering and many other areas. Risk analysts seek to identify the risks faced by an organization or a business unit, understand how and when they arise, and estimate the impact of adverse outcomes. Techniques used in risk analysis include sensitivity analysis, probability analysis, simulation and modeling. Risk analysis may be used to develop an organizational risk profile, and also may be the first stage in risk management program. Risk analysis may be undertaken to varying degrees of detail depending upon the risk, the purpose of the analysis, and the information, data and resources available. In todays world where competition has become global, it is very important that firms control the different kinds of risk that they are dealing with as it has become an essential part in achieving corporate success. The people who are involved such as customers, investors and others asking companies for complete transparency on their investments. Thus risk analysis is necessary to protect an organisations competitive position. Most industries are particularly plagued by risks, but it has been slow in realising the potential benefits of sound and systematic risk management (Al-Bahar and Crandall, 1990; Ward et. al. 1991; Thomson and Perry, 1992; Flanagan and Norman, 1993; Raftery, 1994; Fellows, 1996; Edward and Bowen, 1998).While coming for the software industries risk analysis and management are a sequential progression that help in guiding a software team in understanding and managing risks. A risk is a potential problem, it might happen, it might not. But regardless of the outcome it is really good idea to identify it, assess its probability of occurrence, estimate the impact and establish a contingency plan should the problem actually occurs. According to Bernstein â€Å"the mystery of risk is a critical step in the development of modern society. One can discuss the validity of his conclusion, but there should be no doubt that risk and uncertainty are important concepts to address for supporting decision-making in many situations†. This Risk Analysis may be qualitative, semi-qualitative or quantitative or a combination of these three, depending on the circumstances. The criticality of risk analysis doesnt wholly depend on identifying the risk factors. It also depends on categorizing them according to their threat level. So let us see how the whole concept of risk analysis starts. There are two types of risk analysis. Both these methods are very important in the assessment of risk and can be executed in any order. It is very important to understand the difference between these two risks as there is a very thin line separating them. Those are: Quantitative Risk Analysis Qualitative Risk Analysis (Identification of types of risk analysis) 2.5. Quantitative Risk Analysis: Quantitative Risk Analysis has become an important component of project management. Quantitative risk analysis attempts to assign independently objective monetary values to the components of the risk assessment and to the assessment of the potential loss. According to Guide to the Project Management Body of Knowledge (PMBOK  ® Guide, Third edition 2004, Project Management Institute) â€Å"Quantitative Risk Analysis is performed on risks that have been prioritized by the Qualitative Risk Analysis process as potentially and substantially impacting project ‘s completing demands. The Quantitative Risk Analysis process analyzes the effect of those risk events and assigns a numerical rating to those risks.† (PMBOK Guide, 2004) This method gives the project manager a foresight as to how the project would progress if risks associated with it would occur. Hence due to this method the project mangers are able to counter these risks and also account to better execution of projects. A quantitative risk analysis offers the following distinct advantages: much more neutrality is involved in this assessment offers much more advantages to management when compared to assessment techniques More powerful selling tool to management It is very flexible in nature and can be moulded to different situations. It can be adjusted according to the needs of specific industries. Its appeal is very universal in nature and hence does not give rise to much disagreements The base facts of the analysis are very convincing ones. In order to implement quantitative risk analysis, the total estimated value that would account to the losses that would occur due to time delay, theft or loss of data is to be calculated. Then a probability analysis is done so that the chances of the risk occurring can be calculated. After all this is done in the final step the annual loss expectancy is calculated. (Miller). A quantitative risk analysis analyses the results that certain controversial units would have on outcomes that we are most concerned about such as loss, profit and investment returns. Quantitative risk gives different perspectives on different people: To the security consultant: To attract newly started businesses by adapting quantitative analysis to access projects that were out of reach in the past. If the projects met up to the predicted return on investment then it could serve as a better tool for marketing. To the companys upper management: Less vulnerable to company politics time required for assessing proposal validity is very less Inter- relates final results to financial aims and goals. Quantitative risk analysis assists managers in analyzing whether the projects can be completed in a particular time frame and within the required estimated budget. It also helps in finding out the key parameters that would determine the success or failure of the project. It also helps in finding out whether the project is worth investing in for investors. But all these data should have some historical backing otherwise they would be rendered meaningless. These data should be updated from time to time during the due course of the project taking the actual input parameters into consideration. This in other terms is also known as â€Å"Garbage In – Garbage Out. Even though all this is done project management is subject to certain biases. The most basic solution is to collect data from qualitative project management software. This kind of integration has already been implemented and has been successful in the past as well. Quantitative risk analysis tools initiate Monte Carlo process to find out how risks would have an impact on project schedules. The most well known methods for simulating risks and other problems is Event Chain Methodology. In this methodology all the projects tat are present are effected by certain external parameters which could in turn change the face of the project. These events should be analysed with the help of the qualitative risk management software. This is an important aspect as these measures could give rise to event chains that can alter the course of the project. By finding out these event chains the risks involved can be reduced. Quantitative risk analysis is more related to implementing safety measures when compared to qualitative risk analysis is. This risk analysis when implemented by companies tries to protect the firm from every defined risk. It also helps in determining which counter method can be used for minimizing the risks involved with projects. In this method the risk assessments are generally represented in graphs and probability charts which generates a clear understanding among firms and hence is also favoured by management teams. 2.6 Qualitative Risk Analysis: Qualitative risk analysis forms as primary source of data for further evaluations. It acts as an initial screening for all activities associated with the project to identify the possible risks that may or may not require further analysis (Quantitative). Sometimes managers tend to overlook simple risks which may cause substantial damage while looking for more complex ones which might not be that important. Also studying the project document and technologies used might help identifying certain generic risks. For example, a project which uses widely used or known components poses minimal threats when compared to using first to use or more advanced technology. Qualitative analysis helps prioritizing such risks according to the level they affect the final project objectives. This helps the managers with the decision making on how best they can plan the project in a safe way. While doing qualitative risk analysis, managers generally tend to include their personal and previous experiences in dealing with similar kind of projects or tasks. They asses the importance of risk factors according to their experience. In this process we first identify what are the main sources from where risk can originate. This is done by conducting interviews and getting feedback fro questioners. Then an assessment is done to increase the level of understanding of each risk and the extent to which they could affect the project. For this qualitative risk analysis process there is no probability database required and it is widely used analysis by the organisations. 2.7 Techniques used for Qualitative Analysis: The most common methods of obtaining necessary data for screening risks are: To know the stakeholders and shareholders interests regarding the current project. Collecting critical information from stakeholders and clients to analyze the final objectives in a realistic way. Understanding the organizational structure and policies to carry out the task efficiently. Using effective benchmarking techniques from projects handled previously. Understanding the key objectives and criticality of each task associated with the project to categorize risks according to their importance. However, after collecting the information and assigning the risk factors to different grids or categories, the managers need to decide on the need to go for further investigation and to implement effective risk management plans. In order to do this, every manager should ask themselves a few questions such as: What are the critical phases in the project and where the potential risks are going wrong during that phase? The effect of that risk in carrying out the tasks related to the respective phases and how its delaying the overall project. Weather the potential risks can be eliminated by simple methods or changes in the project plan or they are far too complex to minimize without using further analysis and sophisticated techniques. When a manager could answer these questions, he would be in a position to effectively plan and implement risk aversion plans by using appropriate tools or techniques. The Qualitative risk analysis gives the manager a true power of information to make his decision. Generally the qualitative risk analysis will be succeeded by quantitative risk analysis which gives more insight on numbers such as project period, completion dates and budget. 3. Organisational Risk Analysis: The combination of a threat and the resulting impact to the organisation defines the risk to the organisation. It is an important task that we asses all the intricate issues that the organisation is facing. Only after this assessment we can know the overall risk that the firm is facing and the appropriate counter methods that can be implemented in minimizing these risks. When a risk assessment is carried out we take an over all perspective on behalf of the organisation. We first find out every major business processes that take place in the organisation and then we focus on the situations from where risks would arise. We then provide detailed list to management of the different types of risk involved so that management can counter with them.. The National Audit Office Report Managing Risks to Improve Public Services ( NAO 2004) identified five key aspects of organisational risk analysis and made recommendations for improving organisational risk analysis practice in central government. Sufficient time, resource and top level commitment needs to be devoted to handling risks in an organisation. Responsibility and accountability for risks need to be clear, backed up by scrutiny and robust challenge to provide assurance. In an Organisation, departments need to base their judgements about risks on reliable, timely and up to date information. Risk analysis needs to be applied throughout departments delivery networks. Departments need to continue to develop their understanding of the common risks they share and work together to manage them. An Organisational Risk Analysis is a tool for governance and getting its †¦ Students Paper: Direct Quote: †¦ getting its right is important. Selecting the correct method for performing the analysis is †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ getting it right is important. Selecting the correct method for performing the assessment is †¦ †¦ analysis is a critical first step. Successful audit staff or risk analysis team creates evaluation criteria that will be used to evaluate the risks to the organisation. The analysis team reviews each risk and assigns it an impact value. Successful audit staff uses some basic approaches to determine which technique will provide the most value for the organisation. Organisational Risk Analysis is a very important factor while handling projects for all organisations in todays business world. In any project that is undertaken risk is present. It depends on the nature of the project. Some projects are riskier when compared to others; this is due to the kind of risk, the technology present and the environment in which they are encountered. Project management has been designed to coordinate and be in charge of complicated and different business processes in different field such as IT and industrial sectors. (Web2, 2009) This above diagram shows how an organisation relates with other departments like software, technology and environment etc. Handling with any of them causes uncertainties or risks. To overcome those risks associated in projects, ORA (Organisational Risk Analysis) helps. Risk is uncertainty of outcome, and good risk analysis allows an organisation to: Have increased confidence in achieving its desired outcomes Effectively constrain threats to acceptable levels Take informed decisions about exploiting opportunities. When ever we will get a change this risk occurs for those organisations. It is important to understand effect of change and the results of change as these are important in devising an appropriate strategy. Those are Developmental: â€Å"It is a change which enhances or corrects existing aspects of an organisation, often focusing on the progress of a skill or process. â€Å" Transitional: It is episodic, planned and fundamental. Most of the organisational change literature is based on this type of change only. Transformational: It is radical in nature; it requires a change in assumptions made by the organisation and by its people. Using these types of changes and its characteristics can be placed beside two scales: radical- incremental and core- peripheral (Pennington 2003). The diagram above shows us how difficult it is introduce a particular decision into the market and the number of changes that may result in introducing this decision. If major changes are made to the central business then it would initiate a lot of disturbance. The processes that are associated with the core business can be changed as they can be adjusted in the due course of time; this is mostly for firms who are involved with continuous improvement. Successful audit staff or risk analysis team generally use any of the three basic approaches. The database approach The algorithm approach The matrix approach Understanding the strengths and weakness of each method is essential for determining which technique will provide the most value for the organisation. 3.1 The Database Approach: For assessing any kind of organisational risk, compiling a risk database is a popular method. Here each work group is interviewed and the main products and processes are identified where the risks associated with each process are displayed. These are then stocked in a database from where similar reports can be accessed for reference so that the risk faced by the work unit can be analysed. This database approach is chosen by so many accounting firms and it is favoured by them, which may tag it as â€Å"risk profiling †¦ Students Paper: Direct Quote: †¦ the analysis is a critical first step. Successful audit staff or risk †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ the assessment is a critical first step. Successful audit staffs generally use †¦ †¦ or risk analysis team creates evaluation criteria that will be used to evaluate the risks to the organisation. The analysis team reviews each risk and assigns it an impact value. Successful audit staff uses some basic approaches to †¦ Students Paper: Direct Quote: †¦ approaches to determine which technique will provide the most value for the organisation. Organisational †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ is essential for determining which technique will provide the most value for the organization. THE †¦ †¦ organisation. Organisational Risk Analysis is a very important factor while handling projects for all organisations in todays business world. In any project that is undertaken risk is present. It depends on the nature of the project. Some projects are riskier when compared to others; this is due to the kind of risk, the technology present and the environment in which they are encountered. Project management has been designed to coordinate and be in charge of complicated and different business processes in different field such as IT and industrial sectors. (Web2, 2009) This above diagram shows how an organisation relates with other departments like software, technology and environment etc. Handling with any of them causes uncertainties or risks. To overcome those risks associated in projects, ORA (Organisational Risk Analysis) helps. Risk is uncertainty of outcome, and good risk analysis allows an organisation to: Have increased confidence in achieving its desired outcomes Effectively constrain threats to acceptable levels Take informed decisions about exploiting opportunities. When ever we will get a change this risk occurs for those organisations. It is important to understand effect of change and the results of change as these are important in devising an appropriate strategy. Those are Developmental: â€Å"It is a change which enhances or corrects existing aspects of an organisation, often focusing on the progress of a skill or process. â€Å" Transitional Organisational Risk Management in Project Management Organisational Risk Management in Project Management CHAPTER 2 2.1 Preview This chapter provides the reader about the theory and rationale behind the use of Organisational Risk Analysis (ORA) on project management and its methodologies available in the market. It will also cover the work of different authors to afford better understanding of the subjected area i.e. Project management, Risk analysis and Organisational risk analysis. The source of information of this literature review is mainly from books, journals and white papers. 2.2 Introduction Through this literature review one can know what others understanding about this study i.e. nothing but historical perspectives. First part of the literature focuses on project management and risk analysis and risk analysis types, second part of this literature focuses on Organisational Risk Analysis (ORA) and Role of ORA in Project management. It mainly concentrates on Project management, risk analysis and organisational risk analysis. 2.3 Introduction to Project Management: PMBOK (Project Management Body of Knowledge as defined by the Project Management Institute — PMI):Project management is the application of knowledge, skills, tools and techniques to project activities to meet project requirements. (PMI 2004) According to James P. Lewis â€Å"The Project management is facilitating the planning, scheduling and controlling of all activities that must be done to achieve project objectives† (James P. Lewis: 2007) PRINCE 2 project management methodology: The planning, monitoring and control of all aspects of the project and the motivation of all those involved in it to achieve the project objectives on time and to the specified cost, quality and performance. A project is usually one time activity with a well defined set of desired and results. It can be divided into subtasks that must be accomplished in order to achieve the project goals. In this day and age also it is assumed that project management can be enhanced by scientific methods. There is a very strong reason why these beliefs are created, it all accounts to the fact that todays modern world has given professionals numerous amount of opportunities to execute their projects successfully. Such are the kind of investment options that are given to project investors. They are briefed with all the minute details so that they feel that their investment is secure. They also make sure that the estimated time of completion and the end can be calculated at the beginning of the project itself. The decisions that are taken on a technical basis or which are taken looking at the low opportunity costs that it presents are reversible in nature. The demand for resources can also be calculated once the initial parameters such as the duration and time frame of the project are estimated. Due to the advancement in technology even the most terrible consequences can be predicted. à ¢â‚¬Å"The failure of the project was due to the lack of skills rather than an inappropriate feasibility, suitability or acceptability of the solution. This is a normal–science view of project management.† (Charette and Robert, 1996) The projection of ideas and activities into new accomplishments are one of the common characteristics of all projects. There are many different definitions of what constitutes project management such as â€Å"An unique set of co-ordinated activities, with definite starting and finishing points, undertaken by an individual or a team to meet specific objectives within a definite period of time, cost and performance parameters† (Office of Government Commerce). (Web4, 2009) J. Pinto and Prescott (1990) stated, â€Å"Researchers in project management need to first and most importantly offer a comprehensive, inclusive, and clear definition of project success before attempting to undertake studies of the project implementation process†. (J.Pinto and Prescott, 1990) The modern project management started in 1950s, before this period projects were executed in an unplanned manner and the methods and tools used for execution were not professional in nature. The importance of project management is a very important topic because all organisations i.e. either be they are small or large organisations, those are involved in implementing new accomplishments. These accomplishments may be diverse, such as, the improvement of an innovative product, introducing a new range of products in a manufacturing base, a promotional advertisement or a major construction project. In the 1980s the focus was more on the quality of work. Globalisation played a huge role in the 1990s as we were trying to improve our economy, the 2000s saw projects with decreased time frames. A new field known as project management was developing from all new areas of application which included construction, engineering, telecommunications, and defence. This emerging field has now become an important part of our economy as it has produced a string of fabulous results. Hence it is now being applied by the corporate world as well as the government. Duncan Haughey (2008) explained some main definitions of what project management is: â€Å"Project management is not a continuous process. It has a definite beginning and end.† â€Å"Project management uses various tools to measure accomplishments and track project tasks. These include Work Breakdown Structures, Gantt charts and PERT charts.† â€Å"Projects frequently need resources on an ad-hoc basis as opposed to organisations that have only dedicated full-time positions.† â€Å"Project management reduces risk and increases the chance of success.† â€Å"Successful project management is delivering your projects on time, to brief and within budget.† (Duncan Haughy, 2008) 2.3.1 Methodology of Project Management: According to Bradley (2002) Project management methodology means â€Å"Project Management Methodology focuses on the project and can be in any industry and any type of projects ranging from construction to aerospace industries and from projects of Financial to IT in nature, it encompasses all projects† The above diagram shows the main components of one of the main project management methodology. Some of the elements like project start-up and project closure occur only once. The remaining elements like planning, managing and controlling, form an interactive cycle that may repeat many times before the completion of the project. In other words we can also say project management is the discipline of planning, organising and managing resources to bring about the successful completion of specific projects goals and objectives. Each and every project is different in nature. Any project would involve a certain amount of risk and hence require perfect planning and execution if they have to succeed. The main aim of project management is to predict any complications or problems in the project well before hand so that when the project plan is made all these factors can also be taken into consideration and hence the chances of the project being completed successfully would be much higher. Almost every project we do in todays business world involve a risk of some kind: change in customer needs, unrealistic time scales, inappropriate staff, poor project specifications , failure to manage user expectations could delay the project. Projects need to be performed and delivered under certain constraints. Traditionally these constraints have been listed as scope, time and quality. This is also called as ‘project management triangle. One side of the triangle cannot be changed without affecting others. The time constraint refers to the amount of time available to complete a project, scope refers to what must be done to produce the projects end result and cost refers to the budgeted amount available for the project. Increasing Scope ( Increasing Time + Increasing Cost Decreasing Time ( Increasing Cost + Reducing Scope Tight Budget ( Increase Time + Reducing Scope. If we modify any of the factors, the other two has to be changed, if not the risk may appear high. But formal risk analysis and risk management can help you to assess these risks and decide what action to take to minimize disruptions to your project plans. According to J. Davidson Frame (2007) the basic outline of project management is described below Project managers bear ultimate responsibility for making things happen. Traditionally, they have carried out this role as mere implementers. To do their jobs they needed to have basic administrative and technical competencies. Today they play a far broader role. In addition to the traditional skills, they need to have business skills, customer relations skills, and political skills. Psychologically, they must be results-oriented self-starters with a high tolerance for ambiguity, because little is clear-cut in todays tumultuous business environment. Shortcomings in any of these areas can lead to project failure. – (J. Davidson Frame, 2007) Project management is discipline that applies to any project; every company has their own way of doing their projects. The project management is not very easy it is totally a leadership position and with technical talent it cannot be done. Project manager without enough experience cannot hold for a long-time on the same project if the assumption of the company goes wrong in selecting the project manager it will be in risk. (Sanjay Murthi, Preventive Risk Management for Software Projects) 2.4 Risk Analysis: The word ‘RISK derives from the early Italian risicare, which means ‘TO DARE. (Websters Dictionary: 1989) One of the most important activities in project management is to identify and manage the uncertainties and problems during the project tenure. When dealing with research and development projects it must be made note of that the number of events present are very high which could alter the course of the project The amount of risk involved in the project would mainly depend on the size of the project. The contractors of the project are the people who deal with the risks of the project, their main duties would involve to identify risks. Then they study them and find as solution so that could remove or minimize them. Apart form this they should also have a clear understanding of the different types of risk involved and ways as to how they can be managed and projects can be completed in a risk free manner. (The Owners Role in Project Risk Management National Research Council (U.S.A). Committee for Oversight and Assessment of U.S. the national academic press, Washington DC). A report that shows assets, vulnerabilities, likelihood of damage, estimates of the costs of recovery, summaries of possible defensive measures and their costs and estimated probable savings from better protection. A risk analysis is the process of assessing the level of risk involved, this is also known as a threat and risk assessment. A threat is a harmful act such as the deployment of a virus or illegal network penetration. A risk is the expectation that a threat may succeed and the potential damage that can occur. (Web1, 2009) Risk analysis allows you to examine the risks that your organization faces. It is the process of systematically identifying and assessing the potential risks and uncertainties that occur when trying to achieve a certain goal (like reaching a target income or finishing a project), and then finding a feasible strategy for most efficiently controlling those risks. ‘The systematic process to understand the nature of and to deduce the level of risk. It provides the basis for risk evaluation and decisions about risk treatment. (AS/NZS 4360:2004 (p. 4). According to Michael R. Greenberg †Risk Analysis ranked among the top 10 journals in the ISI Journal Citation Reports under the social sciences, mathematical methods category is designed to meet the need for organization, integration, and communication and provide a focal point for new developments in the field.† (Michael R. Greenberg: 2008) Evidence from the literature suggests that project managers perform risk analysis because somebody else, e.g. their client, the parent company or the Government, has demanded it (Boothroyd, 1996; Smith, 1998). The analysis of risk is being increasingly viewed as a field in itself, and the demand for a more orderly and formal treatment of risk is great. This international journal is committed to publishing critical empirical research, conference proceedings, and commentaries dealing with risk issues. In other terms we can say the measure of risk can be determined as a product of threat, vulnerability and asset value in an organisation. Risk = Asset * Threat * Vulnerability. Risk analysis may play an important role in cost- benefit studies, which compare the costs of a particular action or project against its potential benefits. It is a systematic study of uncertainties and risks we encounter in business, engineering and many other areas. Risk analysts seek to identify the risks faced by an organization or a business unit, understand how and when they arise, and estimate the impact of adverse outcomes. Techniques used in risk analysis include sensitivity analysis, probability analysis, simulation and modeling. Risk analysis may be used to develop an organizational risk profile, and also may be the first stage in risk management program. Risk analysis may be undertaken to varying degrees of detail depending upon the risk, the purpose of the analysis, and the information, data and resources available. In todays world where competition has become global, it is very important that firms control the different kinds of risk that they are dealing with as it has become an essential part in achieving corporate success. The people who are involved such as customers, investors and others asking companies for complete transparency on their investments. Thus risk analysis is necessary to protect an organisations competitive position. Most industries are particularly plagued by risks, but it has been slow in realising the potential benefits of sound and systematic risk management (Al-Bahar and Crandall, 1990; Ward et. al. 1991; Thomson and Perry, 1992; Flanagan and Norman, 1993; Raftery, 1994; Fellows, 1996; Edward and Bowen, 1998).While coming for the software industries risk analysis and management are a sequential progression that help in guiding a software team in understanding and managing risks. A risk is a potential problem, it might happen, it might not. But regardless of the outcome it is really good idea to identify it, assess its probability of occurrence, estimate the impact and establish a contingency plan should the problem actually occurs. According to Bernstein â€Å"the mystery of risk is a critical step in the development of modern society. One can discuss the validity of his conclusion, but there should be no doubt that risk and uncertainty are important concepts to address for supporting decision-making in many situations†. This Risk Analysis may be qualitative, semi-qualitative or quantitative or a combination of these three, depending on the circumstances. The criticality of risk analysis doesnt wholly depend on identifying the risk factors. It also depends on categorizing them according to their threat level. So let us see how the whole concept of risk analysis starts. There are two types of risk analysis. Both these methods are very important in the assessment of risk and can be executed in any order. It is very important to understand the difference between these two risks as there is a very thin line separating them. Those are: Quantitative Risk Analysis Qualitative Risk Analysis (Identification of types of risk analysis) 2.5. Quantitative Risk Analysis: Quantitative Risk Analysis has become an important component of project management. Quantitative risk analysis attempts to assign independently objective monetary values to the components of the risk assessment and to the assessment of the potential loss. According to Guide to the Project Management Body of Knowledge (PMBOK  ® Guide, Third edition 2004, Project Management Institute) â€Å"Quantitative Risk Analysis is performed on risks that have been prioritized by the Qualitative Risk Analysis process as potentially and substantially impacting project ‘s completing demands. The Quantitative Risk Analysis process analyzes the effect of those risk events and assigns a numerical rating to those risks.† (PMBOK Guide, 2004) This method gives the project manager a foresight as to how the project would progress if risks associated with it would occur. Hence due to this method the project mangers are able to counter these risks and also account to better execution of projects. A quantitative risk analysis offers the following distinct advantages: much more neutrality is involved in this assessment offers much more advantages to management when compared to assessment techniques More powerful selling tool to management It is very flexible in nature and can be moulded to different situations. It can be adjusted according to the needs of specific industries. Its appeal is very universal in nature and hence does not give rise to much disagreements The base facts of the analysis are very convincing ones. In order to implement quantitative risk analysis, the total estimated value that would account to the losses that would occur due to time delay, theft or loss of data is to be calculated. Then a probability analysis is done so that the chances of the risk occurring can be calculated. After all this is done in the final step the annual loss expectancy is calculated. (Miller). A quantitative risk analysis analyses the results that certain controversial units would have on outcomes that we are most concerned about such as loss, profit and investment returns. Quantitative risk gives different perspectives on different people: To the security consultant: To attract newly started businesses by adapting quantitative analysis to access projects that were out of reach in the past. If the projects met up to the predicted return on investment then it could serve as a better tool for marketing. To the companys upper management: Less vulnerable to company politics time required for assessing proposal validity is very less Inter- relates final results to financial aims and goals. Quantitative risk analysis assists managers in analyzing whether the projects can be completed in a particular time frame and within the required estimated budget. It also helps in finding out the key parameters that would determine the success or failure of the project. It also helps in finding out whether the project is worth investing in for investors. But all these data should have some historical backing otherwise they would be rendered meaningless. These data should be updated from time to time during the due course of the project taking the actual input parameters into consideration. This in other terms is also known as â€Å"Garbage In – Garbage Out. Even though all this is done project management is subject to certain biases. The most basic solution is to collect data from qualitative project management software. This kind of integration has already been implemented and has been successful in the past as well. Quantitative risk analysis tools initiate Monte Carlo process to find out how risks would have an impact on project schedules. The most well known methods for simulating risks and other problems is Event Chain Methodology. In this methodology all the projects tat are present are effected by certain external parameters which could in turn change the face of the project. These events should be analysed with the help of the qualitative risk management software. This is an important aspect as these measures could give rise to event chains that can alter the course of the project. By finding out these event chains the risks involved can be reduced. Quantitative risk analysis is more related to implementing safety measures when compared to qualitative risk analysis is. This risk analysis when implemented by companies tries to protect the firm from every defined risk. It also helps in determining which counter method can be used for minimizing the risks involved with projects. In this method the risk assessments are generally represented in graphs and probability charts which generates a clear understanding among firms and hence is also favoured by management teams. 2.6 Qualitative Risk Analysis: Qualitative risk analysis forms as primary source of data for further evaluations. It acts as an initial screening for all activities associated with the project to identify the possible risks that may or may not require further analysis (Quantitative). Sometimes managers tend to overlook simple risks which may cause substantial damage while looking for more complex ones which might not be that important. Also studying the project document and technologies used might help identifying certain generic risks. For example, a project which uses widely used or known components poses minimal threats when compared to using first to use or more advanced technology. Qualitative analysis helps prioritizing such risks according to the level they affect the final project objectives. This helps the managers with the decision making on how best they can plan the project in a safe way. While doing qualitative risk analysis, managers generally tend to include their personal and previous experiences in dealing with similar kind of projects or tasks. They asses the importance of risk factors according to their experience. In this process we first identify what are the main sources from where risk can originate. This is done by conducting interviews and getting feedback fro questioners. Then an assessment is done to increase the level of understanding of each risk and the extent to which they could affect the project. For this qualitative risk analysis process there is no probability database required and it is widely used analysis by the organisations. 2.7 Techniques used for Qualitative Analysis: The most common methods of obtaining necessary data for screening risks are: To know the stakeholders and shareholders interests regarding the current project. Collecting critical information from stakeholders and clients to analyze the final objectives in a realistic way. Understanding the organizational structure and policies to carry out the task efficiently. Using effective benchmarking techniques from projects handled previously. Understanding the key objectives and criticality of each task associated with the project to categorize risks according to their importance. However, after collecting the information and assigning the risk factors to different grids or categories, the managers need to decide on the need to go for further investigation and to implement effective risk management plans. In order to do this, every manager should ask themselves a few questions such as: What are the critical phases in the project and where the potential risks are going wrong during that phase? The effect of that risk in carrying out the tasks related to the respective phases and how its delaying the overall project. Weather the potential risks can be eliminated by simple methods or changes in the project plan or they are far too complex to minimize without using further analysis and sophisticated techniques. When a manager could answer these questions, he would be in a position to effectively plan and implement risk aversion plans by using appropriate tools or techniques. The Qualitative risk analysis gives the manager a true power of information to make his decision. Generally the qualitative risk analysis will be succeeded by quantitative risk analysis which gives more insight on numbers such as project period, completion dates and budget. 3. Organisational Risk Analysis: The combination of a threat and the resulting impact to the organisation defines the risk to the organisation. It is an important task that we asses all the intricate issues that the organisation is facing. Only after this assessment we can know the overall risk that the firm is facing and the appropriate counter methods that can be implemented in minimizing these risks. When a risk assessment is carried out we take an over all perspective on behalf of the organisation. We first find out every major business processes that take place in the organisation and then we focus on the situations from where risks would arise. We then provide detailed list to management of the different types of risk involved so that management can counter with them.. The National Audit Office Report Managing Risks to Improve Public Services ( NAO 2004) identified five key aspects of organisational risk analysis and made recommendations for improving organisational risk analysis practice in central government. Sufficient time, resource and top level commitment needs to be devoted to handling risks in an organisation. Responsibility and accountability for risks need to be clear, backed up by scrutiny and robust challenge to provide assurance. In an Organisation, departments need to base their judgements about risks on reliable, timely and up to date information. Risk analysis needs to be applied throughout departments delivery networks. Departments need to continue to develop their understanding of the common risks they share and work together to manage them. An Organisational Risk Analysis is a tool for governance and getting its †¦ Students Paper: Direct Quote: †¦ getting its right is important. Selecting the correct method for performing the analysis is †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ getting it right is important. Selecting the correct method for performing the assessment is †¦ †¦ analysis is a critical first step. Successful audit staff or risk analysis team creates evaluation criteria that will be used to evaluate the risks to the organisation. The analysis team reviews each risk and assigns it an impact value. Successful audit staff uses some basic approaches to determine which technique will provide the most value for the organisation. Organisational Risk Analysis is a very important factor while handling projects for all organisations in todays business world. In any project that is undertaken risk is present. It depends on the nature of the project. Some projects are riskier when compared to others; this is due to the kind of risk, the technology present and the environment in which they are encountered. Project management has been designed to coordinate and be in charge of complicated and different business processes in different field such as IT and industrial sectors. (Web2, 2009) This above diagram shows how an organisation relates with other departments like software, technology and environment etc. Handling with any of them causes uncertainties or risks. To overcome those risks associated in projects, ORA (Organisational Risk Analysis) helps. Risk is uncertainty of outcome, and good risk analysis allows an organisation to: Have increased confidence in achieving its desired outcomes Effectively constrain threats to acceptable levels Take informed decisions about exploiting opportunities. When ever we will get a change this risk occurs for those organisations. It is important to understand effect of change and the results of change as these are important in devising an appropriate strategy. Those are Developmental: â€Å"It is a change which enhances or corrects existing aspects of an organisation, often focusing on the progress of a skill or process. â€Å" Transitional: It is episodic, planned and fundamental. Most of the organisational change literature is based on this type of change only. Transformational: It is radical in nature; it requires a change in assumptions made by the organisation and by its people. Using these types of changes and its characteristics can be placed beside two scales: radical- incremental and core- peripheral (Pennington 2003). The diagram above shows us how difficult it is introduce a particular decision into the market and the number of changes that may result in introducing this decision. If major changes are made to the central business then it would initiate a lot of disturbance. The processes that are associated with the core business can be changed as they can be adjusted in the due course of time; this is mostly for firms who are involved with continuous improvement. Successful audit staff or risk analysis team generally use any of the three basic approaches. The database approach The algorithm approach The matrix approach Understanding the strengths and weakness of each method is essential for determining which technique will provide the most value for the organisation. 3.1 The Database Approach: For assessing any kind of organisational risk, compiling a risk database is a popular method. Here each work group is interviewed and the main products and processes are identified where the risks associated with each process are displayed. These are then stocked in a database from where similar reports can be accessed for reference so that the risk faced by the work unit can be analysed. This database approach is chosen by so many accounting firms and it is favoured by them, which may tag it as â€Å"risk profiling †¦ Students Paper: Direct Quote: †¦ the analysis is a critical first step. Successful audit staff or risk †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ the assessment is a critical first step. Successful audit staffs generally use †¦ †¦ or risk analysis team creates evaluation criteria that will be used to evaluate the risks to the organisation. The analysis team reviews each risk and assigns it an impact value. Successful audit staff uses some basic approaches to †¦ Students Paper: Direct Quote: †¦ approaches to determine which technique will provide the most value for the organisation. Organisational †¦ http://www.thefreelibrary.com/Assessing+Organizational+Risk.-a063326228 †¦ is essential for determining which technique will provide the most value for the organization. THE †¦ †¦ organisation. Organisational Risk Analysis is a very important factor while handling projects for all organisations in todays business world. In any project that is undertaken risk is present. It depends on the nature of the project. Some projects are riskier when compared to others; this is due to the kind of risk, the technology present and the environment in which they are encountered. Project management has been designed to coordinate and be in charge of complicated and different business processes in different field such as IT and industrial sectors. (Web2, 2009) This above diagram shows how an organisation relates with other departments like software, technology and environment etc. Handling with any of them causes uncertainties or risks. To overcome those risks associated in projects, ORA (Organisational Risk Analysis) helps. Risk is uncertainty of outcome, and good risk analysis allows an organisation to: Have increased confidence in achieving its desired outcomes Effectively constrain threats to acceptable levels Take informed decisions about exploiting opportunities. When ever we will get a change this risk occurs for those organisations. It is important to understand effect of change and the results of change as these are important in devising an appropriate strategy. Those are Developmental: â€Å"It is a change which enhances or corrects existing aspects of an organisation, often focusing on the progress of a skill or process. â€Å" Transitional