Newtown Square, Pennsylvania, Project Management Institute, 2004, p. 16. Business operations employees should not disclose information unless authorized and decisions should not be made unless it is permitted. Describe the use of technology in operations. Apply project-management tools to monitor and communicate project progress. It is one of the functions of marketing. Inventory is the amount of a certain supply available for manufacturing a product and should be maintained to determine long-term goals. Instructions should be read meticulously before equipment is operated. Production is the concept of designing, developing and manufacturing a product. The project risk management process reflects the dynamic nature of projectwork, capturing and managing emerging risks and reflecting new knowledge. Describe health and safety regulations in business. Project management is the concept of leaders and employees handling a task including the design, development, marketing, and sales of a product. 4 Project Management Institute. All policies and procedures should be meticulously read and clearly understood by all employees. Explain employee's role in expense control. Discuss the role of ethics in operations. Project management is a responsible process. Resources for projects include capital, time, and labor. Data can be secured through encryption software. Emergency situations should be reported to 911 and company management, and the employee should act with common sense at their discretion. Technology can be used in business operations to consult research reports in order to help make a decision on how to utilize an asset. READ MORE on www.stakeholdermap.com Explain the nature of project management. Report noncompliance with business health and safety regulations. Every employee has the power to be more productive and decrease the expenses for the company (more labor in less time for the same amount of money). Project progress should be tracked by project managers (PMs) and communicated to higher-level managers to develop marketing strategies. These assets can be tangible or intangible. All security policies and procedures should be understood and followed meticulously to prevent damage to employees or property. Company information and assets should be kept confidential and protected from theft by cybercriminals. Bureau of Reclamation, 2004, p. 2. Explain the nature of overhead/operating costs. Comply with policies and procedures for use of property and equipment. Identify resources needed for a project. If necessary, employees should ask the manager for assistance. When a customer buys goods, services, or the initial public offering (IPO) of stock, the bid process can be used to offer the product to the one with the best price. If health and safety standards are being violated, they should be reported to management to prevent damage to employees or property. Project management is a specialized, multidisciplinary, and cross functional discipline combining management, business administration, strategy, specialized subject areas, and other fields toward the achievement of project … READ MORE on www.apm.org.uk Project Management Plan – The 12 Core Components Although one can declare bankruptcy, this has devastating consequences on the individual and the business. Operations is the business activity of harvesting value from assets owned by a business. A Guide to the Project Management Body of Knowledge: PMBOK® Guide, 3rd Edition. Orders and reorders are sales contracts, or agreements between two entities agreeing for the financial transaction and tangible or intangible exchange of a good or service. 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