Cost Scenario Essay Example | Topics and Well Written Essays - 1000 words

Cost Scenario - Essay ExampleA feasibility study has to be conducted so that the oversight foot take a decision as to deport or reject an order. Consultants Judy Capko and Rebecca Anwar suggested in an article for American Medical News. It leave provide the objective lens information to evaluate existing services and strengths. An understanding of the competition and marketplace indicators that affect the business is possible. This is the best way to grasp the impact of future decisions which can be considered. The feasibility study impart help to accurately anticipate what will and will not work in varied situations. The company will be able to determine what resources are essential to complete variedThere are different alternatives which a company can choose from in order to solve its trouble of whether or not to accept an order for a production which requires displacing another product from production. One alternative choice would be to hire someone who could take care of all the issues the company has. The company can hire someone who will discern whether the company will accept an order for a product which requires displacing another product from production. Another alternative action is to form a team that will find simple further efficient ways that can help in solving the companys problem. The team will develop an analysis that will choose between the ordered product and the products that might be displaced. The third alternative action for the company is to lessen its product offerings to give way to the new order. By lessening the product offering of the company, it will put up lesser financial problems and lesser concerns but it can give the company lesser clients (Dallas Business Journal, June 23, 2000). Risk analysis Quantitative happen analysis is a very useful instrument for considering find, but it can only conduct risks that have been identified. There is always some confusion between the notion of identification and assessment. In many cases, managers and decision makers 3presume that if quantitative risk analysis has been carried out then most possible risks have been addressed. They thus avoid engaging in a critical evaluation of the procedure. A good example of the lack of alertness of human factors within the risk assessment procedure caught up an organization that dealt with nuclear processing and subsequent storage of nuclear waste. The project concerned the objective and development of an appropriate depository for the waste, which had a potential for high risk to society over a substantial timescale. Within the initial phase of the project development at the design and conceptual phase, quantitative risk analysis focused on the failure rate of technological issues. No provision was made for conducting risk assessment on the project team or any other people involved in the process, except in terms of technology. The risk for hiring someone to solve the problem is too much use of time. One person wil l have difficulty in providing solutions to a unique problem. The risk for forming a team will be the differing views of each member of the team that might lead to inconsistent analysis of the problem.