W4_ASY_Laundry Project

Problem Statement

This time I continue to discuss further using topic from my previous posting on week 3 now I want to talk about laundry service further in this posting. Evaluating a single project using tools as discussed in in Engineering Economy Engineering Book, chapter 5, page 178-211. Introducing concept of Minimum Attractive Rate of Return (MARR) and Inernal Rate of Return (IRR) to see whether the business investment project should go or not.

W4_AEP_Adopting EEAP or EDP for Problem-solving Meetings

Problem identification

It was said that the essence of management is in how we run meetings. Meetings should be time-limited and have an agenda. Meetings must be kept short, effective and efficient. There are four reasons for having a meeting: to give information; to get information; to solve a problem; and to make a decision. Solving problems may require a lot of time and should be put in special-attention meetings. The meeting minutes records of what occurs and is said at the meeting. Since the minutes are the legal or official record of the proceedings and actions, it is crucial they are accurate. There is not one universal format applied how to document the minutes. We need to put all important information and the thinking process built in the discussion, not one less, in clear and understandable minutes. A structured and systematic procedure is required to manage the problem-solving sessions and develop its minutes.