Definition of Project Management

In order to understand the definition of Project Management we need to understand what Project is. Project is a temporary endeavor undertaken to produce a unique product or service within a specified time.

Project Management move around three parameters - Time(Scheduling), Cost and Quality(Performance). Project must be completed in agreed time, it should be completed in estimated cost and the project shall meet the Quality settled.

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Market Segmentation a difficult job for Marketer.

In market segmentation we divide the whole market into small segments or parts. It is done because of ease for both seller and buyer. Market segmentation is made by seller who will sell his products to target customers. Segments will help him to access them easily and efficiently. For example, we (organization, say ‘PakMobiles’) make five segments of Pakistan, Punjab, Sindh, KPK, Balochistan and Islamabad. Suppose we want to sell our product that is a vedio camera mobile set (Rs.65,900). Now we want to sell our product in five segments separately then we will have to further divide five segments into smaller segments that are markets like in Islamabad we may make further segments for example; Jinnah Super Market, Abpara Market, Melody and I-9 Market. Here you will find that Jinnah-Super is expensive than abpara and Melody and I-9 Market is cheaper than all. Here we shall supply our product to majorly to Jinnah-Super or abpara, Melody instead of I-9 Market because we know that our prod

What is Investment?

Investment is basically the committment of funds in assets with the hope that it will generate income or appreciate in the future with anticipated risk. There are three words in the definition includes; funds, assets and income. 1. Funds mean the money someone is going to invest. 2. Assets mean any tangible property (Land, Building etc) or intangible (patent, copyright) or financial assets like shares and debentures of the company. 3. Income is the difference between Revenue (Cash inflow) and Expense (Cash outflow). The building of a factory used to produce goods and the investment one makes by running college or university are both examples of investments in the economic sense. In the financial sense investments include the purchase of bonds, stocks or real estate property.

Cost and Management Accountant last hope for Pakistan Industries.

There are various Professional institutions in Pakistan like; Institute of Cost and Management Accountant of Pakistan (ICMAP), Institute of Corporate Sectaries of Pakistan (ICSP), Pakistan Institute of Public Finance Accountants (PIPFA) and Institute of Chartered Accountant of Pakistan (ICAP). ICSP members works as Company secretaries for large organizations where they deal in company affairs PIPFA and ICAP members works in finance and Accounts at middle levels and majority Chartered Accountants are also employed in companies as Auditors where they just audit companies accounts instead of value addition in business. Pakistan with weak industry, under deep crisis need survival. Most of the industries working in Pakistan are generating very low profit the reasons may be that these having high production cost or higher Cost of sale, or having unskilled labours or lack of Professionals like; Cost Management Accountants or Industries do not have sufficient capital to invest for expansion

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