Definition of Complex Projects-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Complex Projects in Engineering encountering complication while managing a project. Answer: Introduction Project process planning and control in most situations sees engineering encountering complication while managing a project. Any seasoned engineer will know that every project carries with it an 80% chance of encountering a complexity. The complexity is likely to slow a project and require the engineers to develop innovative approaches, solutions, and tools to resolve the problem (Pollack and Remington 2012). For a seasoned engineer, this is what makes the engineering profession thrilling, since you are always encountering hurdles and developing solutions to resolve them delivers true satifaction. Definition of Complex Projects A Complex project is any process, procedure or project which encounters a complication or hurdle making is difficult to execute and complete. The nature, size or type of project does not limit it from being a complex project and complex projects can be found right from ones home to multimillion civil and mechanical engineering projects (Thamhain, 2013). The secret behind these projects is being able to anticipate and resolve the problems without encountering serious delays or even halting the entire project. To understand the versatility of a complex projects two examples shall be discussed below which a better understanding will related to the definitions of complex projects. Household Complex Project Terrace Leaks Many top floor apartments will begin experiencing water seepage and leaks as the building grows older. This is directly related to the roof slab developing cracks over time which allows water to seep into the apartment. Sadly many apartment owners will face major complications related to stopping this water seepage and this will have a direct negative effect on the property value. The situation is even worse if the water seepage finds its way in to the electrical wiring pipes can cause shot circuits within the terrace (Vokey, 2012). Removal of the terrace is not an option and laying additional layers of concrete is not effective resulting in a complex and unresolvable problem for the home owner. Complex Industrial Projects Oil and gas have become a basic energy source most people depend on globally. To reduce and lower transportation costs oil companies lay under-water pipelines to transport the oil and gas. Earthquakes and other natural forces will sometimes damage the pipeline resulting in a serious problem. These are classified as being among the most complex industrial projects due to the nature and location of the pipelines which need maintaince (Wang, Cao, Luan and Zhang 2008). Engineers are forced to work under water using specializes tools and will face serious limitations which hamper the projects. Mapping Project Complexity Complex project surround us in our daily lives making it important to be prepared for such incidents and retain an open and cool mind towards resolving the complication. Only by remaining open minded towards the projects complications can any individual or engineer be able to devise solutions to the problem. Once a problem has been encountered the first step linked to finding a solution is mapping the problem and its complexity. This allows the engineer to understand the extent of the problem thus allowing them to consider approaches to resolve the problem. Mapping the complexity is critical towards understanding the problem and tracing it back to its origin or cause (Gransberg, Shane, Strong and Puerto 2012). This is important as is helps resolve the problem from its source thus preventing such a problem from developing again in future. For an engineer simply replacing a broken part is not the solution but understanding why the part was compromised in the first place allows the engi neer to first resolve the trigger than replacing the broken part which ensures smooth and undisturbed operations. Always look beyond the broken part to understand what causes the part to break in the first place. In some situations, this could be directed identifiable and in other situation requires additional intuition but this is the train a project engineer must have to tackle complex projects and achieve success. Complex Project Tool Development Every project will require certain tools to be used on the project making it important for the engineer to know all available tools so and how they are used so as to utilize them on a project. Tools used on projects are not necessarily limited to hardware used on the project but also include computers, software, robots and another specialized tool (Brinkkemper 1996) An engineer should be able to understand the problem and request for or design a tool to be used on the complex project. Analysis of the Problem The first steel linked to complex project tool development is being able to understand the problem and its causes. This requires the engineer to analysis and studies the problem closely and devises an approach linked to resolving it. Tool Design and Development The Tool development process involved the designing of a new tool or redesigning of existing tools to fix the problem. This could involve using conventional tools, computers as well as robots to handle a scenario (Selby, Treffinger, Isaksen, and Lauer, 2004) There is no limitation related to complex project tool development but in most situations, this tool will be a prototype which would continue being used on the project. Tool Redesign and Refinement Over time the tool will also continue to be redesigned and modified to improve its performance and ability to resolve even more complex problem scenario which may be encounter on the project. Most projects are long terms thus the tools used for each project will continue being utilized throughout the duration of the project. Staff and Engineer Tool Use Training Projects which have long term duration will also require the senior engineer to train staff on how to use the tools developed specifically for the project. This frees the engineer to focus on other areas of the project which may require his attention and would allow the staff and personnel to utilize the tool to resolve the complex problems they encounter on the project. Project problems are only classified as complex when they are new, recurring because not identified and no permanent solution identified (Corbridge, Rugg, Major, Shadbolt and Burton 1994). Once solutions and tools have been designed and developed to resolve the complex problem the issues are classified as just a problem since a solution to resolve it has been identified. Conclusion Process Planning, Control, and effective management require for every engineer to analysis a problem without focusing on its complexity so as to develop an effective solution to the problem. Every project is expected to experience some major complication which would require for tools to be developed to resolve the complex problem. Having the knowledge and experience to utilize computers, software and existing hardware to develop tools to resolve the complex problem are what certifies engineers as a qualified, experienced and capable professional capable of handling even complex projects. References Corbridge, C., Rugg, G., Major, N.P., Shadbolt, N.R. and Burton, A.M., 1994. Laddering: technique and tool use in knowledge acquisition. Knowledge Acquisition, 6(3), pp.315-341. Pollack, J. and Remington, K., 2012. Tools for complex projects. Gower Publishing, Ltd.. Selby, E.C., Treffinger, D.J., Isaksen, S.G. and Lauer, K.J., 2004. Defining and Assessing Problem?Solving Style: Design and Development of a New Tool. The Journal of Creative Behavior, 38(4), pp.221-243. Thamhain, H., 2013. Managing risks in complex projects. Project Management Journal, 44(2), pp.20-35. Vokey, D.E., Detec Systems Llc, 2012. Method and apparatus to detect and locate roof leaks. U.S. Patent 8,319,508. Wang, Z., Cao, Q., Luan, N. and Zhang, L., 2008, April. Development of new pipeline maintenance system for repairing early-built offshore oil pipelines. In Industrial Technology, 2008. ICIT 2008. IEEE International Conference on (pp. 1-6). IEEE

The Color Purple, Alice Walker Essay Example For Students

The Color Purple, Alice Walker Essay Best known for her Pulitzer Prize-winning novel The Color Purple, Alice Walker portrays black women struggling for sexual as well as racial equality and emerging as strong, creative individuals. Walker was born on February 9, 1944, in Eatonton, Georgia, the eighth child of Willie Lee and Minnie Grant Walker. When Walker was eight, her right eye was injured by one of her brothers, resulting in permanent damage to her eye and facial disfigurement that isolated her as a child. This is where her feminine point of view first emerged in a household where girls were forced to do the domestic chores unaided by the brothers. We will write a custom essay on The Color Purple, Alice Walker specifically for you for only $16.38 $13.9/page Order now Throughout her writing career, Alice Walker has been involved in the black movement and displays strong feelings towards the respect black women get. In 1961, Walker entered Spelman College, where she joined the Civil Rights Movement. Two years after graduating in 1965, she married Melvyn Leventhal, a Jewish civil rights lawyer; afterward, they worked together in Mississippi, registering blacks to vote. In the summer of 1968, she went to Mississippi to be in the heart of the civil-rights movement, helping people who had been thrown off farms or taken off welfare roles for registering to vote. In New York, she worked as an editor at Ms. Magazine, and her husband worked for the NAACP Legal Defense Fund. In 1970, Walker published her first novel, The Third Life of Grange Copeland, about the ravages of racism on a black sharecropping family. In Meridian, 1976, her second novel, she explored a woman s successful efforts to find her place in the Civil Rights Movement. She read much of Flannery O Conner’s work and greatly admired her. For one thing, O Conner practiced economy. According to Herbert Mitgang of the New York Times, She also knew that the question of race was really just the first question on a long list (1983). Much of Walker s writings are very personal. For example, one of her first books once was written during a time in which she was pregnant and suicidal and it described how she had an abortion and dealt with all of its after effects. Unlike many other authors, she is not afraid to write about very personal experiences she has had. Since the beginning of her writing career, she has written sixteen books, including five novels, several collections of essays, short stories, children s books, and poems. Charles Truehearth of The Washington Post writes, She has discussed such topics as spousal abuse, fear of death, female sexuality, and incest (1991). Walker is very much of a feminist, which is demonstrated by the previous quote. According to David Bradley of The New York Times, She coined the term womanist which she used to describe the Black women s issues that are at the heart of so much of her work (1984). One of the major themes that she had incorporated within several of her writings was the difference between black and white authors, along with the Women s Movement. She contemplated the fact that black women had been suppressed for so long that they would never know what kind of great artists they may have lost during all the times while there was slavery. This is what the short story In Search of Our Mother s Gardens discusses. The title has a special meaning because Walker is referring to her own mother. In this work, she discusses all the talents of older black women writers such as Phyllis Wheatley and Zora Neal Hurston. What she is referring to in the title is her own mother s talent in art and gardening. .ua7d89b6931c63acafd586439892c11c6 , .ua7d89b6931c63acafd586439892c11c6 .postImageUrl , .ua7d89b6931c63acafd586439892c11c6 .centered-text-area { min-height: 80px; position: relative; } .ua7d89b6931c63acafd586439892c11c6 , .ua7d89b6931c63acafd586439892c11c6:hover , .ua7d89b6931c63acafd586439892c11c6:visited , .ua7d89b6931c63acafd586439892c11c6:active { border:0!important; } .ua7d89b6931c63acafd586439892c11c6 .clearfix:after { content: ""; display: table; clear: both; } .ua7d89b6931c63acafd586439892c11c6 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ua7d89b6931c63acafd586439892c11c6:active , .ua7d89b6931c63acafd586439892c11c6:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ua7d89b6931c63acafd586439892c11c6 .centered-text-area { width: 100%; position: relative ; } .ua7d89b6931c63acafd586439892c11c6 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ua7d89b6931c63acafd586439892c11c6 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ua7d89b6931c63acafd586439892c11c6 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ua7d89b6931c63acafd586439892c11c6:hover .ctaButton { background-color: #34495E!important; } .ua7d89b6931c63acafd586439892c11c6 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ua7d89b6931c63acafd586439892c11c6 .ua7d89b6931c63acafd586439892c11c6-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ua7d89b6931c63acafd586439892c11c6:after { content: ""; display: block; clear: both; } READ: The Chrysanthemums EssayShe talks about how well known her mother was for her gardening skills that even strangers would stop and admire her handiwork. She points out the fact that it was so beautiful that her childhood, which was filled with poverty and sadness, was made a little more bearable because of it. When she thinks back on it, all she remembers is the beautiful neighborhood, and has a talent for bringing beauty to the forefront. The fact is though she was never given the opportunity to explore it like she may have been had she been a white woman in America. Walker expresses her view on women in the following way: Exquisite butterflies trapped in an evil honey, toiling away their lives in an era, a century, that did not acknowledge them, except as the mule of the world. They dreamed dreams that no one knew not even countryside crooning lullabies to ghosts, and drawing the mother of Christ in charcoal on courthouse walls (In Search of Mothers Gardens, Walker). This representation of the women during this time in the eighteenth and nineteenth century is so personal and so emotional to her that she devoted much of the rest of her life to writing about it and defending women s rights. She was involved in the Black Nationalist movement in the 1960 s. This was a political and social movement in the 1960 s and early 1970 s. Maria Lauret writes in her book, Alice Walker, The Black Movement, with which she still identified, was split on questions of anti-Semitism, integration, class, region, religion, and increasingly, sex (1999). It sought to acquire economic success among members of the African American community and an eventual creation of an African American Nation. This was directly opposed to the assimilation of the blacks onto an American nation, which was predominately white. The black nationalists also sought to maintain and promote separate identity as people of an African ancestry. According to Brittanica On-Line, Many of the slogans they still use are of pride among African Americans (Black Nationalism). Currently she is supportive of the black advancement in a white society; however, her feminist views are cross-cultural. This caused a lot of conflict within the black community when her third book The Color Purple was released. It was a great success which won a Pulitzer Prize in 1983, and it made Walker a financially secure woman. It has been translated into 22 languages and has sold over four million copies. The novel covers the period between the World Wars, telling the story of two sisters, one a missionary in Africa, the other a child-wife living in the South. They sustain each other, and themselves, through a series of letters. However, many critics have objected to its representation of black men. The main problem is its representation of the husband, who was extremely violent and abusive, which some think seemed to represent the whole of the Black American manhood. Astrid Roemer, a journal writer believes that Many of the critics think that it hurt the black movement more than it helped because of how she depicted the black man (Journal of African-American and African Arts and Letters, p. 294). This interpreted his character as a composite of black men in general, but she was even more disappointed about the public s response to The Color Purple in that people said, this doesn t happen. What was really upsetting was the lack of empathy for the woman in Walker s story. However, womanism, in Alice Walker s definition, is not just different from feminism; it is better. She believes that part of her tradition as a black woman is that they are universalists. Black children, yellow, red, or brown children, that is the black woman s normal, day-to-day relationship. In her family alone, they are about four different colors. According to the book Alice Walker by Winchell, Gates Jr. , and Appiah, When a black woman looks at the world, it is so different. When she looks at the people in Iran they look like kinfolk. When she looks at the people in Cuba, they look like her uncles and nieces (1993). .u074be6a31c42a25bb6cebf81e893d22c , .u074be6a31c42a25bb6cebf81e893d22c .postImageUrl , .u074be6a31c42a25bb6cebf81e893d22c .centered-text-area { min-height: 80px; position: relative; } .u074be6a31c42a25bb6cebf81e893d22c , .u074be6a31c42a25bb6cebf81e893d22c:hover , .u074be6a31c42a25bb6cebf81e893d22c:visited , .u074be6a31c42a25bb6cebf81e893d22c:active { border:0!important; } .u074be6a31c42a25bb6cebf81e893d22c .clearfix:after { content: ""; display: table; clear: both; } .u074be6a31c42a25bb6cebf81e893d22c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u074be6a31c42a25bb6cebf81e893d22c:active , .u074be6a31c42a25bb6cebf81e893d22c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u074be6a31c42a25bb6cebf81e893d22c .centered-text-area { width: 100%; position: relative ; } .u074be6a31c42a25bb6cebf81e893d22c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u074be6a31c42a25bb6cebf81e893d22c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u074be6a31c42a25bb6cebf81e893d22c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u074be6a31c42a25bb6cebf81e893d22c:hover .ctaButton { background-color: #34495E!important; } .u074be6a31c42a25bb6cebf81e893d22c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u074be6a31c42a25bb6cebf81e893d22c .u074be6a31c42a25bb6cebf81e893d22c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u074be6a31c42a25bb6cebf81e893d22c:after { content: ""; display: block; clear: both; } READ: Can She Escape? The Yellow Wallpaper EssayOverall, Walker has been a very influential author throughout the black community, and her audiences are very much interracial. Although many of the criticisms are controversial over her view of black men, through this research it is concluded that the depiction cannot be narrowed down to black men. She was merely describing the kind of man who had the potential and who was abusive. Not suprisingly, most of the controversy streams from the fact that there aren t other black male characters portrayed to counteract the depiction of the abuser. This perceived imbalance however doesn t mean that she is focusing all her anger towards black males, she is merely trying to illustrate topics that people know are true yet perhaps unwilling to admit it. Another good argument is that it seems as though critics are trying to force her to choose between her support for the black community and her support for the feminist movement, and she won t do that for them. She is equally supportive of both, and that is a very admirable quality. Alice Walker was a very personal author who was not afraid to show or hide anything in the struggle against racism and support for black women.

How the Internet Has Changed The Traditional Home Buyer †Business Paper

How the Internet Has Changed The Traditional Home Buyer – Business Paper Free Online Research Papers How the Internet Has Changed The Traditional Home Buyer Business Paper In today’s day and age it is becoming much more accepted to explore and complete nearly every aspect of the real estate process online. From researching, to touring the house, to figuring out how much and what type of mortgage is best, the consumer can undergo nearly all of the steps to purchasing a house without ever leaving their computer. Many commonly performed tasks such as driving to various neighborhoods, scouring the phone book for realtors, and going to various lending institutions for assistance with a loan are not nearly as stressful and time consuming. All of this has opened the door for a new type of â€Å"ambitious consumer† when it comes to buying real estate online. The internet has vastly transformed the average home-buyer. There are many characteristics that online real estate buyers have in common. A study was released by the California Association of Realtors titled â€Å"Internet versus Traditional Buyer Study† that gave interesting insight into who exactly is the â€Å"average internet real estate consumer?†. A few highlights of the study concluded that the online consumer was more self-motivated, wealthier, younger, and more likely to be married (housebloggers, 2005). Some of the key comparisons are as follows: The average age of Internet buyers was 39 compared to 46 for traditional buyers. 9 out of 10 internet buyers were married compared to 8 out of 10 non-internet. 85% of internet buyers had a 4-year degree, 11% completed post-graduate work, whereas only 78% of non-internet buyers had a bachelors, 4% had completed any post-graduate work. Internet buyers had an average income of $185,088.00 and non-internet buyers had an average of $151, 190.00. Internet buyers spend three times as much (5.8 weeks) time considering buying a home before contacting a realtor than non-internet buyers (2.1 weeks). Internet buyers took only two weeks to select a house instead of the seven weeks the traditional buyer took. Due to the use of virtual tours, internet buyers only looked at an average of 6.2 homes with a realtor compared to the 14.5 homes a traditional buyer looks at. This study shows the obvious changes that are taking place in the real estate world. Buyers are getting younger, smarter, and much more ambitious. They are spending more time researching on their own, and needing less assistance from a realtor. What is it exactly that attracts these younger, smarter, educated buyers to the internet instead of dealing directly with a real estate expert? It’s simple, there is literally an encyclopedia of information on how to handle every step of the process all over the internet. Every major realtor’s web site has sections that you can learn all about the real estate buying process without even talking to a representative (century 21). You can investigate neighborhoods, find information on exactly how much a mortgage would cost you, and even get in touch with a representative when you are ready to make that final leap. Site’s such as Century 21’s homepage has a complete First-time Homebuyer’s Guide that you can read to inform yourself on some of the less-known or confusing factors that go into purchasing real estate. Other web site’s such as the home loan learning center provide a step by step checklist to walk you through the rigors of determin ing the right type of loan for you (MBA, 2004). Not only does can you use the internet to educate yourself on the ins-and-outs of buying real estate, but it is also a valuable tool to direct you to the places you need to go when you’re ready. You can get in touch with a realtor, mortgage counselor, loan officer or a host of other individuals that can help answer any questions you still may have. This can save a lot of time searching through the phone book trying to distinguish what services each realtor can provide, or who really knows what it is you are looking for. When it comes to buying a house, there’s one word that causes more confusion, frustration, fear and anguish. That word is â€Å"mortgage†. For almost every individual out there, a mortgage is an essential part of the home-buying process. However, it may be one of the most confusing parts as well. With all the different types of mortgages, how does one know what is right for them? In the pre-internet days, a person would have to sit down with a mortgage consultant or loan officer or whoever, and be educated on how the whole loan process works. With the advent of internet real estate a whole new breed of sites have been born. Not only can you find tons of information about mortgages on any real estate company’s web site, but there are many sites dedicated solely to helping consumers understand mortgages and how they work. Fixed Rate Mortgage The most common mortgage in use today is what’s known as a fixed rate mortgage. A fixed rate mortgage is defined as a mortgage in which the interest rate and payments remain the same for the life of the loan (MBA 2004). The fixed rate mortgage is one of the oldest lending tools and still one of the most widely used. A fixed rate mortgage is comprised of the principal and the interest. When you set up your repayment schedule you will have a set amount that you must pay every month until the balance is paid off. Your monthly payment will be paying off only part of the amount you borrowed and part of the interest, or what you are being charged to borrow the original loan amount. This predetermined monthly payment is locked in or â€Å"fixed† for the entire life of the loan, regardless of changing interest rates, or how much you are willing to pay every month. The most common fixed rate mortgage issued is the 30-year mortgage (MBA 2004). You can, however, set up a m ultitude of fixed rate mortgages such as a 15 or 20 year fixed rate mortgage. The main reason that the 30 year fixed rate mortgage is the most common is because it offers the lowest monthly payments. This allows for a higher likelihood of being approved and is geared toward borrowers that will be remaining in the house for a long time and would also like to keep their housing expenses consistent (MBA 2004). Another fixed rate mortgage that can be obtained is a 15-year fixed rate mortgage. This is almost exactly like a 30-year mortgage except that you will have significantly less interest to pay. The drawback of the 15 year mortgage is that it does require a higher credit rating and a much larger monthly payment (MBA 2004). One more uncommon fixed-rate mortgage is the Bi-weekly mortgage. This type of loan is great if you have the budgeting skills to make a half-payment on your monthly loan amount every paycheck. By making a bi-monthly payment every two weeks, you are actually making the equivalent of 13 full monthly payments (MBA 2004). This loan is also typically a 30 year term, but allows you to have it paid off long before the 30 years are up. The example below illustrates the potential savings one can have by using a bi-weekly payment as opposed to a typical monthly payment. Example: You have a mortgage with a monthly payment of $997.00 Total interest paid over the 30 year life of the loan: $209,263.00 Half payments of $498.00 ($997.00/2) every two weeks would result in 26 equal payments per month. This extra month allows you to pay off the 30-year loan in 22-23 years. Total interest paid over the 22-23 year life of the loan: $155,938.00. Total savings over the traditional loan: $53,325.00! Adjustable Rate Mortgage A far less common and more complicated lending tool is an adjustable rate mortgage. An adjustable rate mortgage is defined as a mortgage loan or deed of trust, which allows the lender to adjust the interest rate in accordance with a specified index periodically, and as agreed to at the inception of the loan. Also called variable rate mortgages (VRM) (MBA 2004). ARM’s can be a bit more confusing because they require an understanding of a few more terms that dictate exactly how and how much the monthly payments of the mortgage can change. Some of the key terms to understand before getting into an ARM are as follows: The adjustment period: The length of time which dictates interest rate adjustments on an adjustable rate mortgage. A six-month ARM would have an adjustment every six months. The index: A published interest rate, such as the prime rate, LIBOR, T-Bill rate, or the 11th District COFI. Lenders use indexes to establish interest rates charged on mortgages or to compare investment returns. On ARMs, a predetermined margin is added to the index to compute the interest rate adjustment. The margin: In an adjustable rate mortgage, the spread between the index and the mortgage interest rate. Index rate + Margin = Your ARM Annual Percentage Rate (APR): A term defined in section 106 of the federal Truth in Lending Act (15 USC 1606), which expresses on an annualized basis the charges imposed on the borrower to obtain a loan (defined in the Act as finance charges), including interest, discount and other costs. Interest Rate Cap: A limit on interest rate increases and/or decreases during each interest rate adjustment (adjustment period cap) or over the term (life cap) of the mortgage. *Definitions come from the home loan learning center web site ARM’s come with many different adjustment periods, margin rates and caps. It is important to consider each of these variables when selecting the right type of ARM for you. Hybrid and convertible ARM A hybrid and convertible mortgage is a mortgage that interchanges between a fixed-rate and adjustable-rate mortgage. One convertible is a mortgage that starts with a fixed rate for a period of time (2,5,10 yrs) and then converts to an annual adjustable-rate mortgage for its remaining life. Conversely there is the convertible mortgage that begin as an adjustable rate mortgage and can be converted into a fixed rate after an agreed payment period. You typically have to pay a fee when you convert the mortgage and most of the time the fixed rate you pay is slightly higher than the going rate for fixed loans (MBA 2004). To sum it all up, here is a list of the most common mortgages used today. Below the type of mortgage is some pro’s and con’s for each. Fixed-rate mortgages 30-Year Fixed Pros: Lower monthly payment Most affordable More cash/savings because payment is lower; easier to bear if the homeowner has repairs to make or comes upon hard times; extra cash allows homeowner to make other investments since cash isn’t tied up in the mortgage Cons: Longer term Pay more interest Costs more than shorter term mortgages over the life of the loan 15-year fixed Pros: Shorter term, own your home in half the time (allows you to own your home before your children start college or before you reach retirement) Often the total interest paid over the life of the loan is lower, less than half the total interest of a 30 yr Cons: Bigger monthly payment Qualification may be difficult because the income requirement is higher Bi-weekly Pros: Loan is paid off much more quickly Interest savings is significant Often automatically deducted from your checking account Cons: Must be able to budget and make the half-mortgage payment every two weeks Adjustable Rate (ARM) Pros: When interest rates go down, payment goes down Initial interest rate can be as much as 2 to 3 percent lower than a comparable fixed rate mortgage Homeownership is more affordable Qualifying is easier Lower initial interest rate compared to fixed-rate mortgages, which can make homeownership more affordable and make qualifying for a mortgage easier. And if interest rates decline, your mortgage payments decline as well. Cons: When interest rates go up, payments go up The potential for higher monthly payments if interest rates increase Requires more budgeting discipline Convertible Mortgages Hybrid and convertible ARMs Pros: Advantages of an ARM with the ability to convert to a fixed-rate mortgage If you don’t convert, it’s a regular ARM Cons: If interest rates are at a higher level, when its time to convert, you may not want to go with it *Info from home loan learning center Research Papers on How the Internet Has Changed The Traditional Home Buyer - Business PaperAnalysis of Ebay Expanding into AsiaPETSTEL analysis of IndiaThe Relationship Between Delinquency and Drug UseThe Project Managment Office SystemHarry Potter and the Deathly Hallows EssayIncorporating Risk and Uncertainty Factor in CapitalOpen Architechture a white paperRiordan Manufacturing Production PlanStandardized TestingResearch Process Part One

A philosphical essay on Utilitarianism.

A philosphical essay on Utilitarianism. Utilitarianism is a way of looking at ethics, it focuses on trying to ensure the maximum happiness in many different ways. There are many different forms of utilitarianism, the four I will discuss are act, rule, naive and preference utilitarianism.Rule utilitarianism tries to give the greatest overall benefit to society, the best rule/law of conduct is found and everyone is found an a rule utilitarian will follow it. However, this can cause problems if you use this rule in a place where it is not generally followed as problems will be caused if you differ from the general population. Another difficulty is that all the best rules would be very complicated and this would make them hard to follow and many people would not bother to follow them at all.Examples of rule utilitarianism: A man needs a lot of money to get a lifesaving operation on his heart, he doesn't have the money and contemplates robbing a bank for it.From http://hypernews.ngdc.noaa.govBecause he follows rule utilitariani sm he decides to let himself die because robbing a bank is against the rules that he believe are for the benefit of society. Another example: A man from the USA comes to Australia to live, one of the rules he believes is for the greater benefit of society s driving on the right side of the road. He is forced to go against his rule utilitarianism because of the fear of a car crash.Preference utilitarianism tries to satisfy peoples' preferences. The best action is the one which satisfies the highest amount of peoples' preferences. These preferences must only count for preferences about oneself or people might have preferences that cancel out other peoples preferences (for example: A person wishing to be rich and a person wishing for everyone to be poor),

CONSUMER LAW Essay Example | Topics and Well Written Essays - 1000 words

CONSUMER LAW - Essay Example Despite the defence offered by the respondent the court of appeal found in favour of the claimant on the basis of strict liability, even though the court accepted that the respondent had not been negligent. (a) the product could not be regarded as defective as there had been no previous instances of this type and therefore they had no reason to believe that there was any need to change the design to prevent such a thing from happening the state of scientific and technical knowledge at the relevant time was not such that a producer of products of the same description as the product in question might be expected to have discovered the defect if it had existed in his products while they were under his control In the first hearing the court held Mothercare liable for the injuries and also rejected any claim for contributory negligence on the part of the claimant. It was not made clear at the first hearing whether the ruling had been based on negligence or strict liability or both which led to Mothercare lodging an appeal. At the appeal hearing the court clarified the position, stating that the ruling was based on the defectiveness of the product and not the negligence of the producer. The appeal court rejected the defence offered under s4(1)(e) of the CPA 1987 in relation to the development risk defence. In reaching their decision the court found that Mothercare had not breached their duty of care to the claimant and that no prudent producer could have anticipated the risk. Liability therefore hinged on determining whether the product could be deemed to be defective. (1) Subject to the following provisions of this section, there is a defect in a product for the purposes of this Part if the safety of the product is not such as persons generally are entitled to expect; and for those purposes "safety", in relation to a product, shall include safety with respect to products comprised in that product and safety in

Customer relationship management and Enterprise resource planning Essay

Customer relationship management and Enterprise resource planning - Essay Example CRM assists in managing accounts, prospects, and territories (Pakroo, 2012, p. 213). It identifies what type of communications and outreach were conducted to the individual contracts. In addition, it enables the sales team to determine the best prospects. CRM provides pertinent information that assists the sales team into transforming such prospects into paying customers. In addition, it allows the sales team to follow-up contracts to make sure that customers are satisfied. The sales department can also improve its operations when it utilized user-friendly call center to manage customer’s inquiries and complaints (Pakroo, 2012, p. 213). A marketing department can improve its operations through employing CRM to determine trends and evaluate the popularity of the services and products of the company. It assists the marketing team to develop appropriate marketing messages and campaigns (Pakroo, 2012, p. 213). CRM can only improve the marketing productivity of a company when it manages to enhance marketing effectiveness and increase marketing efficiency. It can increase marketing efficiency through collaborative and cooperative processes that help reduce transaction cost and the overall cost for the company. Thus, it is important to build partnering relations with valued customers and promote proactive customer business development (Sheth, 2001, p. 6). Enterprise resource planning (ERP) employs a common software infrastructure and single database that presents up-to-date and broader scope of information. It enables the management to come up with good decisions, which are beneficial to the entire supply chain. ERP is fairly robust in presenting real time information (Wisner, Tan, & Leong, 2008). It communicates information pertaining to operational changes with minimal delay to supply chain members. In addition, ERP systems are created to fully take advantage of Internet technology; thus, it allows users

Epistemology Essay Essay Example for Free

Epistemology Essay Essay Descartes uses epistemology and metaphysics to frame his famous cogito argument. But in order to understand how that works, first, we must discuss the differences between an epistemological and a metaphysical question. Epistemology is a facet of philosophy interested in knowledge. And an epistemological question is a question concerned with something relating to knowledge, apprehension of knowledge, knowledge-world correspondence, or the origins of knowledge. What is knowledge? Is knowledge even possible? If so, how do we get it? Does knowledge correspond to reality? How do people acquire knowledge?Is it from the world or from our experiences in the world or do we have it before we experience the world? Metaphysics is a division of philosophy interested in figuring out exactly what being is. Basically any kind of question about what is, natural or supernatural, including science and religion, is a metaphysical question. Some of their perennial questions are what is the difference between particulars and individuals? Is there a reality out there? What is reality? Is there a god? What is god? Is free will a possibility? Is change possible? What is identity? How much control do agents have control over their actions? And though these two philosophies overlap in some places, they have three major differences. First, epistemology is almost always focused on being a living thing, because even if one investigates whether or not knowledge corresponds to the world, an agent is still necessary to see uncover the knowledge there. Second, metaphysics is very often focused on the differences between things, and while you could ask the question Is there such a thing as knowledge? in both an epistemological and a metaphysical context, your answers could be very similar, but will likely be different. Theyd differ because epistemologically, asking the question will usually break down into questions about the justification for beliefs and knowledge; whereas a metaphysical question will focus on locating the conditions to declare knowledge existent. Third, epistemology with very little exception is focused on human beings; metaphysics in its very nature is about everything including human beings. But, metaphysics and epistemology have a lot of similarities. One particular way both epistemology and metaphysics can be approached is mind/pure thoughts and body/material being. And this is how Descartes approaches it in his cogito argument. While looking for the ultimate grounds of knowledge, Rene Descartes came into despair because nothing seemed grounded and it was as if the Empiricists had won. But then a brilliant revelation finally dawned on him: no matter what, in order to have any experiencein order to behe must think. He says that even if its the case an evil deceiver made up the universe just to trick us, and everything weve ever known is an illusion, we must exist as thinking things in order to be deceived (otherwise we wouldnt be able to be deceivedthings that cant think, e.g. rocks, cant be decieved). In fact, if I didnt think I couldnt do anything or have any experienceI wouldnt exist! Descartes method uses a very interesting train of logic. First, he takes a metaphysical stance: nothing is real. Next, he looks for things he can trust as real. This step uses epistemology (systematically verifying the contents of his knowledge) to ground a metaphysical question (what is real? What am I?). (So, its not a big surprise he ended up finding an epistemologically grounded first truth.) Finally, he uses a thought experiment, the evil deceiver, to uncover his first truth: I must think in order to exist. Once he formulates the cogito, he uses it to argue the metaphysical point that mind is separate from the body. After all, thoughts arent tangible, temporal, or destructible, whereas a body and things in the world are in space, exist in time, and can be destroyed. So, because of this, he makes a sharp metaphysical distinction between the mind and body, leaving philosophic room for religious beliefs like the afterlife and answering some questions about the mind. So, for Descartes, what I am is a thing that thinks because epistemologically, there cant be thinking without an agent to think. (And by thinking, Descartes really means understands, grasps things, has beliefs or knowledge.) Because of this, he thinks that I am separate from my body, which is a metaphysical claim. So, his idea of mind-body dualism needs both metaphysical and epistemological claims in order to function.