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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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.

Internal Control in Business --- (Definition)

Every Business have objectives and goals, to achieve these goals organisation must be so designed to have proper internal control on it functions and activities. The question is what is Internal Control ? Auditing Guideline "Internal Control" issued by Institute of Chartered Accountants of England and Wales defines internal control as: "The whole system of controls, financial or otherwise, established by the management in order to carry on the business of the enterprise in an orderly and efficient manner, ensure adherence to management policies, safeguard the assets and secure the completeness and accuracy of the records. The individual components of an internal control system are known as "Internal Controls" or "Controls" ". PIA-Internal Contol System Explanation:- It is the control of whole system, whether it is related to financial record or other areas like technical or legal etc. The rules and procedures of control are set by high...

Definitions of Business

I collected the 5- Best definitions of Business in order to clearly teach business as well as non-business students and other readers for conceptually understand the basic meaning of business. An organization or economic system where goods and services are exchanged for one another or for money A business , also known as an enterprise or a firm , is an organization involved in the trade of goods , services , or both to consumers Business is an economic activity , which is related with continuous and regular production and distribution of goods and services for satisfying human wants. Business refers to a form of activity conducted with an objective of earning profits for the benefit of those on whose behalf the activity is conducted. A commercial activity engaged in as a means of livelihood or profit , o...

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