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2.5 Project meetings schedule

You need to decide early on what meetings are essential to the monitoring process. All your stakeholders will expect to receive reports at regular intervals, whether formally or informally. So you need to ask yourself:

  • Who needs to be informed?

  • About what?

    How often?

  • By what means?

Effective communication involves giving information, collecting information and listening to people. To ensure the
Author(s): The Open University

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1.2 Defining team responsibilities

Depending on the size of a project, responsibility for each key stage may need to be allocated to a member of the project team. Clear allocation of roles and responsibilities for tasks and key stages ensures that each piece of work is ‘owned’ by a particular person, and that overall responsibility for the work is spread appropriately between members of the team. Establishing clear lines of accountability for each team member is important to give them:


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4.1 The boundary of the operations system

The simple transformation model in Figure 1 provides a powerful tool for looking at operations in many different contexts. It helps us to analyse and design operations in many types of organisation at many levels.

This model can be developed by identifying the boundaries of the operations system through which an organisation's goods or services are provided to its customers or clients. Author(s): The Open University

3.4 Transformation processes

A transformation process is any activity or group of activities that takes one or more inputs, transforms and adds value to them, and provides outputs for customers or clients. Where the inputs are raw materials, it is relatively easy to identify the transformation involved, as when milk is transformed into cheese and butter. Where the inputs are information or people, the nature of the transformation may be less obvious. For example, a hospital transforms ill patients (the input) into health
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2.2.1 A first diagram

For example, think about the inputs to the running of a commuter rail operation and the outputs from it. The diagram might look like the one in Figure 10.

Learning outcomes

By the end of this unit you should be able to:

  • make an informed judgement about whether or to what extent a financial market satisfies the conditions of an efficient market;

  • identify the main factors that could detract from that efficiency.


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3.4 Variability of income

This applies to investments where the return is defined in generic terms but the actual amount of the return may fluctuate in an unpredictable manner. As we have seen, the most obvious example is the company share, but there are others, such as debt instruments (such as many bank deposits) where there is a contractual right to interest but the interest rate fluctuates according to some formula – or even simply at the whim of the bank! An important example of this type of security is the Flo
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Learning outcomes

After studying this unit you should be able to:

  • explain the concept of risk in an investment context;

  • comment critically on the impact of the principal risk factors in a given investment context.


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7.6 Who should estimate?

The person managing the project is not necessarily the best one to prepare the estimates, although they should be closely involved, both as a source of information and because they need a clear understanding of what the estimates mean and what the estimators assume about outputs, inputs and the transformation process. If there are others who have more experience or more knowledge about some of the areas of work, these people may be the best ones to make estimates for the project or parts of i
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3.6 Encyclopedias

Encyclopedias can be useful reference texts to use to start your research. There are some available online, such as:

Wikipedia A freely available collaborative encyclopedia.

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Introduction

This unit looks at human healthcare concentrating on the life sciences sector. You will see the historical development of the pharmaceutical industry and examine the relevant management strategies used.

This material is from our archive and is an adapted extract from Strategic management in life sciences and healthcare (BS811) which is no longer taught by The Open University. If you want to study formally with us, you may wish to explore other courses we offer in this Author(s): The Open University

Acknowledgements

Except for third party materials and otherwise stated (see terms and conditions), this content is made available under a Creative Commons Attribution-NonCommercial-ShareAlike 2.0 Licence

Grateful acknowledgement is made to the following sources for permission to reproduce material in this unit:


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2.6 Conclusion

In this section we have looked at the different ways in which expectations about corporate governance have grown. We have briefly reviewed the role of corporate scandals as a generator of regulatory responses, and in particular the significant problems that surfaced in 2002–3. We have also noted that research shows that evidence of a positive correlation between good investment returns and good corporate governance policies is not conclusive.

We have looked at the growth of shareholde
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7.2.1 Labelling behaviour

Signalling that you are about to suggest a solution to a problem or to ask an important question is one way of drawing attention to this and puts pressure on the person or persons at whom your signal is directed to respond.


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1 Why people management matters to the successful delivery of projects

The importance of budget, time and quality to the success of projects means that they are often managed as technical systems rather than behavioural systems. Yet mismanagement of the ‘people’ aspects of projects is as likely to contribute to their failure as neglect of the ‘hard’ dimensions of project management. This is because the successful implementation of any kind of project requires the effective deployment of human as well as material resources. Indeed, without people, no proj
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1.4.2 Unification and the EU

With the development of the EU an arena for collective action has appeared. But, as we shall see in SubSection 1.4.3, it is rather limited and it cannot be compared to the public sphere of the member states. Although collective actors have reacted to the emergence of new European-based institutions, due to internal constraints not all are in t
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6.1 The complexities of a multifaceted Europe

If the ‘Europe of the Regions’ model is also ruled out – at least in its stronger versions which suggest that nation states are being replaced – the interesting question remains: how will significantly enhanced regionalisms relate to other ‘possible Europes’? These include the traditional ‘nation state’ and ‘Federal Europe’ models, both of which also reflect some continuing elements of reality, but in addition a ‘Europe’ of cities, of cultures, of national and ethnic m
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7.4 Identity in question

Why is identity important and how are identities formed? This unit looks at the many different ways in which identity can be categorised. By examining the requirements of the state, how a child views gender, and the importance of race or place of birth, you will start to understand how each individual can have more than one identity. This unit focuses upon the individual's perception of self in relation to others; the relationships between multi-ethnicity, cultural diversity and identity; and
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5.5 Science in the Scottish Enlightenment

This unit is concerned with science in Scotland, one of the most dynamic centres of Enlightenment thinking. Writers speak of the mid-eighteenth century as Scotland's ‘Golden Age’. In order to get a flavour of this age, it is necessary to take a very broad view of what we mean by ‘science’. Staying within the boundaries recognised by modern science faculties misses most of what is distinctive about eighteenth-century Scotland. The interconnections and cross-fertilisation between discip
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3.8 Sustainable Scotland

This broad-based unit will introduce you to a number of different aspects of sustainability that impact on Scotland and the wider world. It wil appeal to anyone with an interest in a sustainable future in the context of contemporary Scottish society.

To access this material click on the unit link below. It leads to a separate OpenLearn unit and will open in a new window.