Notes, summaries, assignments, exams, and problems

Core Principles of Project Management

Project Management is a temporary, organized effort to create a unique product, service, or process. It has become important due to VUCA environments (Volatility, Uncertainty, Complexity, Ambiguity), more projects running in parallel, higher failure rates, and the need to link projects with strategy and value creation (EPM – Enterprise Project Management). Project managers often do not have formal authority, work cross-functionally, and accept change and even project termination as viable options.

The CVP Waterfall Model: Five Stages of Project Delivery

The CVP (Concept, Validate, Plan) Waterfall Model defines five sequential stages:

1. Appraise – Should we do the project? Focuses on idea generation, feasibility

Management Accounting Objectives and Advantages

Management accounting plays a pivotal role in aiding internal decision-making by providing timely and relevant financial information to managers, unlike financial accounting which focuses on external reporting. Its primary objectives include assisting in planning, controlling operations, maximizing profits, and minimizing losses through detailed cost analysis, budgeting, forecasting, and performance evaluation. Key advantages lie in its ability to enhance efficiency by identifying inefficiencies, supporting strategic decisions such as pricing and resource allocation, promoting transparency, and enabling better control over costs, ultimately contributing to organizational goals and competitive advantage.... Continue reading "Strategic Management Accounting and Costing Techniques" »

Management Accounting vs. Cost Accounting

Management Accounting and Cost Accounting are closely related fields, yet they differ significantly in their purpose, scope, and approach. Cost Accounting primarily focuses on the recording, classification, and analysis of costs associated with production or services. Its main objective is to determine the cost of products, control costs, and assist in pricing decisions. It is mainly concerned with past and present data related to materials, labour, and overheads.

Management Accounting, on the other hand, is broader and forward-looking. It uses financial as well as non-financial information to support managerial decision-making. It includes cost data from Cost Accounting but also combines it with financial... Continue reading "Management Accounting: Key Concepts, Budgeting, and Cost Control" »

Academic Vocabulary List

Adulterate

— make impure

Augment

— increase

Dour

— gloomy

Fortitude

— courage

Gape

— stare open-mouthed

Guise

— appearance

Insidious

— harmful but subtle

Opulent

— very wealthy

Reiterate

— repeat

Tentative

— unsure

Unkempt

— messy

Verbatim

— word-for-word

Amicable

— friendly

Averse

— strongly opposed

Belligerent

— aggressive

Benevolent

— kind

Duplicity

— deceit

Extol

— praise highly

Feasible

— possible

Impervious

— not affected

Impetus

— driving force

Jeopardy

— danger

Nostalgia

— longing for the past

Scrutinize

— examine closely

Adversary

— enemy

Alienate

— isolate

Coerce

— force

Craven

— cowardly

Culinary

— related to cooking

Demise

— death

Harass

— bother repeatedly

Muse

— think deeply

Perpetuate

— make continue

Precedent

—

Essay Writing Structure

1. Introduction

It is often said that [topic paraphrased]. This essay will discuss [point 1] and [point 2], as well as consider [your own idea], in order to decide which is the most important factor.

2. Point 1

One important aspect is [point 1]. This is because [explanation]. As a result, [consequence].

3. Point 2

Another key point is [point 2]. For instance, [example]. Therefore, [result].

4. Your Idea

In addition, [your new idea] can also play a significant role. This is mainly due to the fact that [reason].

5. Conclusion

To sum up, although all the points mentioned have an impact, I strongly believe that [choose the most important] is the most relevant factor.

Article Writing Structure

1. Introduction

Have you ever wondered [hook]

Conformity and Social Influence (≈200 words)

Conformity refers to a change in an individual’s behavior, belief, or attitude due to real or imagined pressure from a group. People conform to be accepted by others or because they believe the group is correct. Solomon Asch’s line-judgment experiment demonstrated that individuals often conform to group opinions even when the group is clearly wrong.

There are two main types of conformity:

• Normative conformity — when individuals conform to gain social approval or avoid rejection.
• Informational conformity — when individuals accept group opinions as a source of correct information, especially in ambiguous situations.

Factors influencing conformity include group size, unanimity, group cohesion,... Continue reading "Applied Social Psychology: Conformity, Norms & Interventions" »

Nature of the Information Used

Research Approaches

• Qualitative Studies: Focus on internal aspects (attitudes, "why?"). Uses small samples and methods like focus groups.
• Quantitative Studies: Focus on numerical analysis ("how much?", "where?"). Uses statistical precision and larger samples.
• Mixed Studies: A combination of both approaches.

Research by Role

• Descriptive Research: Provides broad information; often the starting point.
• Exploratory Research: Identifies problems or opportunities and tests hypotheses.
• Explanatory Research: Detects cause-and-effect relationships between variables.
• Predictive Research: Quantitative estimation of magnitudes over time (e.g., demand, prices).
• Control Research: Analyzes the results of decisions already made.

Qualitative