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5th class lecture (project charter (planning of project activities (impact…

- - - - economic impact
        
        examines the effect of an event on the economy in a specified area,
      - financial impact
        
        a methodology by which you can convert a differential in a margin or a ratio to a monetary value.
        
        A cost or profit loss that happens due to disaster that is beyond control.
      - social impact
        
        effect an organization's actions have on the well being of the community.
    - - an attempt to explain why an organization needs to implement a particular solution to a problem
    - - your moral judgment what you think is the best solution for a particular problem
- - - - This is off-the-rack research used to help the trier of fact reach a conclusion on a point of law.
    - - improves the morality and efficiency of worker
      - enable the workers to enjoy a richer and fuller life by providing them basic facilities and amenities of life which they themselves can not provide
- - - - analysis of budgeting
        
        price=utility
        
        price>utility
        
        price>utility
      - cut extra costing if needed
      - profit consideration
      - choose high optimization technique i.e price<utility
      - produce estimate
      - achieve a baseline budget for each idea
      - estimate cost of each segment
      - convert cost into percentage
      - add cost of all segments
    - - cost of a certain product or service into its various components
    - - This includes items such as software, equipment and raw materials