Physics of Basketball Essay - 1867 Words

James Naismith, born 11/6/1861, in Almonte, Ontario, Canada invented the greatest game of all time. Basketball was invented December 1891 at a YMCA gymnasium in Springfield, Massachusetts. The game was invented to be an indoor game for students to play during the cold winter months since there were no previous indoor game that could involve a whole class. Basketball started out with only 13 rules that were made by Naismith in 1891 and the rules have continued to grow and change up to present day. The change that had the biggest impact on how basketball is played was the introduction of the three-point line. The three-point line started out as an experiment in college basketball in 1980 and was later adopted as a concrete part of the†¦show more content†¦Each team gets their own half to score A minimum of 10 players, five on each team is required for a game. A men’s basketball circumference is 29.5-30 and weighs usually 20-22 ounces while a women’s basketball circumference is 28.5-29 and usually weighs 18-20 ounces. Only one ball is used in play. Games are played in four quarters in the NBA and high school and 2 halves in the college level. A quarter in the NBA has a 12 minute clock with game time lasting a minimum time of 48 minutes, a half in college is 20 minutes, allowing a minimum of 40 minutes playing time, and a quarter in high school goes for 8 minutes with minimum game of 32 minutes. Each player can play as long as they do not foul out. A NBA player has to sit down once reaching his 6th foul, and a college and high school player gets 5 fouls before having to sit down. A foul is when the defensive player has too much contact on the offensive player, or when the offensive player has a player control foul and knocks a stationary defender down. Points are counted by how many shots each team can make. When a player is fouled on a shot, or the team has bonus fouls from too many fouls from the other team, that player gets a free shot. This shot is shot on the free throw line and is worth one point. Two points are added when a shot is made within the three point line. The shot can be a dunk, lay-up, or jump shot. Finally,Show MoreRelatedPhysics of Basketball640 Words   |  3 PagesPhysics takes part in our everyday lives without us even recognizing it. In simple every day functions like when we walk, how our vehicles function properly, and even how we play sports. We go on each day with no recognition of physics until it is pointed out to us. The concept of physics is the study of fundamental structures and interactions in the physical universe. We learn physics to get a better understanding of the universe and the objects in it (Ostdiek). Now, that I have given you a briefRead More The Physics of Basketball Essay1466 Words à ‚  |  6 PagesThe Physics of Basketball The NBA playoffs are making the headlines all over. Every news channel, sports channel, and newspaper has a story about the big games. Everyone is making bets as to who will be the big champions. Will it be the defending champions, Los Angeles Lakers, or will it possibly be one of the underdogs. This is the most intensive time of year for basketball fans as they watch the teams battle out the game. Up and down the court, the turnovers, rebounds, fast breaks, andRead More The Physics of Basketball Essay1350 Words   |  6 PagesThe Physics of Basketball The more and more I look around I begin to see how physics are integrated into practically everything that we do. These things would surely go unnoticed without making a conscious effort to notice them. For example simple things like riding a bike, or driving a car, or playing catch with a son or daughter. Just as these activities are loaded with elements of physics, sports are also, especially basketball. Physics play a part in every aspect of the game, from dribblingRead More The Physics of Basketball Essay1950 Words   |  8 PagesThe Physics of Basketball There are many aspects to the game of basketball and physics can be applied to all of them. Although to be good at basketball it is not necessary to play it from a physics point of view. Basketball players become good by developing muscle memory for the actions that must be performed in the game of basketball from years of practice. Nevertheless knowing some of the physics in the game of basketball can help a good player be a better player. In this paper I will coverRead More The Physics of Basketball Essay1832 Words   |  8 PagesThe Physics of Basketball Introduction Any child can pick up a basketball, bounce it a few times, and throw it at the hoop without realizing the complex physics he is involving himself in. However, a greater understanding of the sport can be gained by applying the principles of physics to these actions. Through this paper I will be examining the physics of dribbling and shooting. For the equations, I will use a standard men’s basketball with a mass of 25 oz. (0.7 kg) and a diameter of 9.39†Read MoreChapter 4 : Displacement Of The Basketball1182 Words   |  5 PagesChapter 4: Displacement of the basketball Part 1: Fundamentals As there are many different aspects of physics found in the sport of basketball, I am going to summarise and talk about the fundamental physics that always take place on a basketball when moving, I will be defining the aspect of physics from prior knowledge and also, evaluating and explaining the main aspects of physics found in basketball and how they are applicable. The main elements of physics found in basketball that I will be analysingRead MoreThe Force to Dribble a Basketball833 Words   |  4 PagesIf you think about it, it’s almost impossible to measure the force that it takes to dribble a basketball, unless you have the right tools. Let’s just think about the basic physics that you should know. In order to dribble a basketball you need to apply enough force for the ball to go from your hand to the floor and back up to your hand. When the ball is in your hand it is holding potential energy. Potential energy is the energy that is about to be transferred into kinetic energy, which is when theRead More Personal History Essay1193 Words   |  5 Pages I am satisfied with what I have become; a student specializing in Physics with special interests in experimental Condensed Matter Physics. I grew up in a very small town. A town not fully developed; there were very few resources and not many quality schools to acquire a solid education. I had to pass an entrance exam to get into a good school for 8th grade at a time when most students in my town would drop out of school after 7th grade in order to search for work and support their families. Read MoreBasketball Vs. Basketball822 Words   |  4 PagesThese were the exact words of basketball hall of famer Michael Jordan, a person who can be debated as the greatest basketball player ever. This quote means more than just how to be successful in basketball; it means that making mistakes is part of the journey to a prosperous life, but not taking chances strays from the path to success. In today’s world, people have to be competitive to succeed in anything. The formula for both a â€Å"good† life and successful basketball career requires many similar thingsRead MoreReflection Essay902 Words   |  4 Pagesfiber of my mind and body are like a magnet captivated by the enlightening content embedded in the pages. It is a powerful feeling that piques my curiosity to its fullest. And it has continued to grow ever since I sat down on the first day of my AP Physics 1 class– September 2, 2015 – in room 3-202. I still vividly remember the inquisitive young boy I was in that class, each day always eager and excited to open the door and enter this sacred place that promoted intellectual freedom and truth: a rigorous

The Human Brain And Its Effects On Development And...

human brain is capable of so many things, being able to detect when our bodies are out of balance to making us crave foods for certain nutrients our body needs. The human brain is so powerful, that it is capable of destroy it’s own neurons through a process starting out as dementia and progressing into Alzheimer’s disease, or (AD). Studies are suggesting new theories about the oral cavity having an etiologic factor, as well as influences on development and progression of AD. Various research shows dietary habits may place a person more at risk for developing this neurological disease. Patients with AD are more susceptible to certain oral infections due to medications, possible diet habits, and lack daily oral hygiene. Being educated on new articles as further knowledge with this disease evolves, a trip to the dentist office may be more important than your regular tooth cleaning. There are different variations of AD, a rapid onset and late onset, both having the same end ing result of the destruction of neurons in the brain. AD appears as inflammation in the brain that can affect memory, speech and motor skills. Unfortunately, the only way of diagnosing AD is through post-modem evaluation. Dementia and AD are tracked by certain memory tests scores and then ranked to determine the disease scale; however, this does not act as a diagnosing factor. From an anatomy standpoint, a blood brain barrier surrounds and protects our brain, which in some theories, is very close to theShow MoreRelatedThe Incidence Of Alzheimer s Disease Essay1380 Words   |  6 Pagesconsistent with brain atrophy and neural cell death. 1The inflammatory response of the brain, that is commonly found in AD, is linked to several factors. 1Amyloid-B, inflammatory cytokines, and sphingolipids are some of the known factors associated with AD. 1Uncontrolled inflammation, from ongoing or chronic complement activation is theorized to impact Alzheimer’s disease, among other disea ses. 2 Recent GWAS shows strong evidence that complement receptor CR1 is linked to the development of AD, althoughRead MoreAlzheimer s Disease And Its Effects1701 Words   |  7 PagesAlzheimer’s disease is predicted to affect 115 million people worldwide by the year 2050 (Aggarwal, Neelum). This debilitating disease was mostly in the dark to scientists until 2011 when they were finally able to develop a way to observe and study the development of the stages of Alzheimer’s. A lot is still largely unknown about the disease and current studies aim to categorize, provide infrastructure, provide early detection as well as research possible treatments for the disease (Aggarwal, Neelum). AsRead MoreEssay on Alzheimers Disease1266 Words   |  6 Pageschances of becoming an Alzheimer’s Disease, or AD, patient increases. It is estimated that approximately 3 percent of Americans between the ages of 65 and 74 have the illness, and more than half of all people over age 85 have the ailment. nbsp;nbsp;nbsp;nbsp;nbsp;AD is a form of dementia, a disease, that according to the Alzheimers Disease Education amp; Referral Center is defined as: â€Å"†¦a group of symptoms that are caused by changes in brain function. Dementia symptoms may include askingRead MoreAlzheimer s Disease ( Ad )1172 Words   |  5 PagesAlzheimer’s disease (AD) is a disorder that is characterized by degeneration of the hippocampal and cortical neurons of the brain – causing memory impairment and a decline in cognitive abilities. The current study by Ghoneim et al.1 focuses on the role of three proteins in the pathogenesis of Alzheimer’s. Brain derived neurotrophic factor (BDNF) signaling is important for development and maintenance of normal neuronal circuits in the brain. Glial fibrillary acidic protein (GFAP) is expressed by astrocytesRead MoreOf Prpc In Influence The Cleavage Of APP1276 Words   |  6 Pagesstudy examined the effect of the removal of in PrPC transgenic mice expressing human wild type APP. They found that the deletion of PrPC had no effect on ÃŽ ±- and ÃŽ ²-secretase proteolysis of APP (Whitehouse, 20 16). However, in the brains of PrPC null mice there was an increase in the amount of AÃŽ ². This supported idea that PrPC has a role in regulation the production of AÃŽ ² from APP in vivo (Whitehouse, 2016). With the observation that PrPC was decreased in the brains of sporadic AD individuals and theRead MoreThe Effects Of Resveratrol And Its Effect On The Risk Of Neurodegeneration, And Alzheimer s Disease1138 Words   |  5 PagesAlzheimer s disease (AD) in particular. AD is the primary cause of progressive dementia. Resveratrol has demonstrated neuroprotective effects in several in vitro and in vivo models of AD. Apart from its potent antioxidant and anti-inflammatory roles, evidence suggests that resveratrol also facilitates non-amyloidogenic breakdown of the amyloid precursor protein (APP), and promotes removal of neurotoxic amyloid beta (AÃŽ ²) peptides, a critical step in preventing and slowing down AD pathology. ResveratrolRead MoreAlzheimers Disease Case Study1277 Words   |  6 PagesA fundamental aspect of understanding the Alzheimer’s disease (AD) is to establish the crosstalk between amyloid beta (Aï  ¢) interactions with neuronal cell membrane. Here, we report a novel structural and mechanistic strategy to unravel the Aï  ¢1-40 interaction with model cell-membranes using polymethacrylate-copolymer (PMA) encased nanodiscs and macrodiscs. The PMA nanodiscs remodel both Aï  ¢1-40 monomers and fibers to toxic and non-toxic protomers. The target nanodiscs isolated the Aï  ¢1-40 intermediatesRead MoreA Research Into Decision Making For Alzheimer s Disease Essay1454 Words   |  6 Pagesrefers to the ability to obtain information and apply skills and consists of different functions, memory, reasoning, logic; these are all controlled by different areas of the brain. Alzheimer’s Disease inhibits short term memory first, before it continually moves throughout the brain, eventually affecting part of the brain that controls involuntar y functions. With this in mind someone with MCI would not be able to make clear judgments and recall memory stored in long term memory. The deteriorationRead MoreEssay about Alzheimers Disease1082 Words   |  5 Pageshappens when a person starts to behave ab-normally? How is his/her brain filling the blanks in a different manner? To discuss this subject we would discuss the most common form of dementia among old people, the Alzheimers disease. Dementia is a brain disorder, a loss of intellectual function (thinking, remembering, reasoning), which substantially affects a persons ability to carry out daily activities. Alzheimers disease (AD), a form of progressive, irreversible dementia with no known causeRead MoreEssay On Premorbid Music Training1644 Words   |  7 Pagesstill to be discovered. Psychologists have turned to experimenting with numerous forms of therapy. The effects that music therapy has demonstrated on dementia sufferers thus far seem promising; however can beginning musical training earlier in your life have beneficial effects in later life as a dementia sufferer? By examining current research I aim to compile evidence that shows the beneficial effects of prior musical training on individuals with dementia, both before and during symptom incipience,

Business Stock Market Business Interest Flow

Question: Describe about the Business Stock Market for Business Interest Flow. Answer: Introduction The research topic is to examine "what is the impact of the high interest rates on the Australian stock market". In order to effectively resolve the research issue, in-depth understanding will be developed by exploring the existing literature. The available literature will be explored by considering the following topics, which are based on the identified research questions: Assessment of the impact of interest rates on the stock market. Relationship among the interest rate, cash flow, and value of stocks. Challenges that are faced by Australian companies due to volatile interest rates. Additionally, the below are the hypothesis that would be considered throughout the completion of this study. Hypothesis 1: Interest rates negatively affects the stock market by impacting on returns and stock prices. Hypothesis 2: There is a negative relationship exists among interest rates, return on the stock, and cash flow. Hypothesis 3: Volatile interest rate creates several challenges for the companies. Impact of Interest Rate of the Stock Market The term interest rate is defined by Jha (2011), as a cost and expenditure incurred by an enterprise for borrowing fund. It is an important element of borrowing costs. Borrowing costs include different charges, and interest on borrowing money and bank overdrafts as an adjustment of interest cost in accounting. The borrowing cost or interest rate are fluctuated and depends on the demand of money in the market and on Federal Reserve monetary policy. If the demand of loan and money increased then it will prompt banks to increase the charges on borrowing money that will raise the borrowing cost of money. Here, the loan or borrowed money assumed as a product and the interest rate known as its price, where the price of a product depends on the demand of that product. It is also depicted by Reifner and Schroder (2012), that the interest on long term debts and short term debts are included in borrowing cost as incurred cost by an individual and an organisation. If, an organisation is incurri ng additional costs such as commission, brokerage, charges of stamp duties, and any other related costs for the arrangement or collection of required capital, then this part of cost will be calculated as a fraction of borrowing cost. Interest rate is the important element of borrowing cost. Therefore, if the interest rate increases then borrowing cost will also increase. Interest rate directly affects stock market because the stock price depends on the companys profitability and performance. In contrast to this, Rooij et al (2011) said that company pays its borrowing cost from its profitability which affects its returns. Therefore, if the interest rate increases then it will directly affect the companys profitability as a result of high borrowing cost. In other words, when interest increases then the company needs to pay more for borrowed money, which will lead to low profitability. In this situation, the stock price of the company may also drop. On the other hand, if interest rate declines then the borrowing money for companies will be cheaper in result of low borrowing cost. The lower borrowing cost can influence the stock price of the company as a rise in stock price. In addition, Osborne (2014) notified that there is a significant relation between interest rate and stock market which is not simple to illustrate. The interest rate works as strength for the stock market as well as weakness. Usually, a person seeks to safety and good return. At the time, when interest rates go down then people are unwilling to put their money in banks and more likely they are willing to invest in other obsession like gold or stock market for better return. The lower interest rates makes cheaper to borrowing money. Due to this reason, the investors pay less for borrowing money that increased profits. Therefore, the lower interest rate influences stock market and works as a strength to increase the performance of stock market and nations currency. On the other hand, if the interest rate increases then it reflects theory of economics as cash become more expensive and the prices of stocks may go down. The higher interest may reduce the flow of cash in market and increas e the borrowing costs for companies. As a result of this, the profitability of the company as well as performance will decrease. Moreover, the decreased performance will determine that the higher interest rate is a weakness for stock market. At the same time, it is evaluated from the study by Nissim and Penman (2003) that the changes in the interest rates are related with the stock returns negatively. They also argued that the negative impact is mainly associated with the changes in the discount rate as an impact of the interest rate consequently affecting stock market. Furthermore, the authors also contended that although the interest rate changes are related to subsequent earnings in a positive manner, however the changes in the earnings are not adequate to compensate the changes in the required return. It is the reason that the net impact of interest rates changes on the stock market is negative Concurrently, Madura (2008) also supports the views of the above authors by stating that the risk-free interest rate is one of the most important economic forces driving prices of the stock market. The author also contended that the relationship between stock prices and interest rates is not constant over time, however when the interest rates increased significantly, there can be seen a decline in the most of the biggest stock markets. Additionally, the author also illustrated that in the late 1990s, the rise in the stock market was partly assigned to the low rates of interest during that period. It shows that the rising interest rates have a negative impact on the stock market or vice versa. Thus, on the basis of above authors' views, it can be discussed that interest rates negatively impact on the stock prices due to reduction in the total earnings and firm's profitability position. At the same time, the study by Liu, Di Iorio and De Silva (2014) also suggests that the short term and long term investment rate can create the significant impact on the stock market in Australia. It is because it affects the growth of cash flows and earnings as well as required return on the investment. Thus, it is clear that interests rates have an impact on the Australian stock market as well as stock markets in other countries. Moreover, on the basis of above discussion, it is analyzed that the hypothesis-1 is true as the interest rates negatively impacts on the stock market. It is because it is evaluated that the interest rates have an effect on the behavior of investors and consumers as well as stock market. It can be discussed that the price of a share fluctuated as a result of expectations of people about the company. For instance, if the company is going back in cutting its growth and generating less profits with high debt expenses due to higher interest rates then the future cash flow of the company will drop. This will lead to lower stock price of the company and lower returns on investments. It can also be analyzed that if most of the companies are facing a declining phase in their share prices then the index of stock market will go downward. At the same time, if an investor gets financial expansion at cheaper interest rate with high returns on investments it will lead to higher stock prices and upw ard market index. Thus, it can be concluded that the interest rate has a great impact on the stock market by impacting on return of investment and stock prices. Evaluation of the Relationship exists among Interest Rates, Return On The Stock, And Cash Flow In the views of Reilly and Brown (2011) there is not a direct and uniform relationship exists among interest rates, cash flows and the stock prices. They argued the reason behind this is that along with the changes in the interest rates, the likely cash flows from stocks can change and it is difficult to determine that whether the changes in the cash flows will offset or increase the interest rates' changes. The authors explained three potential scenario by considering an increase in the inflation rate in order to determine the relationship among all these variable. The Positive Scenario: As discussed by Reilly and Brown (2011), due to rising inflation, interest rate increases and concurrently business earnings experienced growth as to cover the increased cost, companies are able to increase prices. In this situation, prices of the stock are likely to be fairly stable as the negative effect of rising required rate of return can be offset completely or partially by the increase in the dividends and earnings resulting in the increase in the stock value. Mildly Negative Case: In this scenario, due to inflation, required return and interest rates increase but at the prior rate, it is expected that cash flows continue to grow with the assumption of small increases in the price as compared to increase in the interest rates and the inflation (Reilly and Brown, 2011). This would cause to the decrease in the stock price due to increase in the required return, and constant growth rate of dividend. Negative Scenario: As a result of inflation, the required return and interest rates increase, while the cash flows' growth decreases because during the inflation period, the production cost increases, but many companies are not able to enhance prices at all resulting in major decrease in profit margins. Further, stock prices will decrease significantly because required return will increase and growth will decrease (Reilly and Brown, 2011). It is clear from the above discussion that the changes in the rate of interest affects cash flow position, required return, and earnings that further affects stock market. It also indicates that relationship between stock price and interest rates is not direct. Moreover, the authors also argued that the impact of changes in the interest rate on stock prices depends on what caused the interest rate changes and this event's impact on the alternative common stocks' expected cash flows (Reilly and Brown, 2011). Overall, it can be stated that between interest rates and return on stocks, generally there has been a negative relationship exists. Additionally, it can also be stated that although negative relationship can be true in the context of overall market, however, there can be some industries, which may have positive earnings and cash flow against the changes in the interest rates (Reilly and Brown, 2012). Concurrently, to define the relationship among all these variables, Tas (2008) stated that a negative relationship can be expected between stock prices and interest rates as per the theory of arbitrage. It is because the present value of firms' future cash flows decreases due to higher real interest rates that further causes reduction in the stock prices. The study by Oxelheim and Wihlborg (2008) supports the views of Tas (2008) by stating that there are three reasons due to which changes in the economic value and cash flows occur. In this, the first reason is that changes in the interest rate affect the cost of capital of firms and therefore, impact on the discount rate applied to future cash flows and current interest costs. Secondly, many companies' products' demand depends on the interest rates because the cost of credit impacts on the demand. Lastly, there are also other macroeconomic variables such as inflation, exchange rate, etc, that also tend to be correlated with the inter est rates. Thus, it can be stated that all the three terms are related with each-other. In contrast, Madura (2008) argued that there are three kinds of factors including economic, firm-specific, and market oriented that affect the stock price. In this, the economic factors include economic growth, interest rates, and exchange rate that affect stock prices due to impact on the cash flows of the firms. Thus, it shows that all the three terms such as interest rate, stock prices and cash flows are related to each-other and changes in the one variable significantly impacts on the other variables. Overall, based on the above authors' views, it can be analyzed that the second hypothesis "there is a negative relationship exists among interest rates, return on the stock, and cash flow" is true. It is because it is assessed that continuous increase in the interest rates negatively affects future cash flows that further cause a decrease in the stock prices due to the decrease in the investors' trust. Additionally, based on the above discussion, it can also be concluded that interest rate is an important variable that affects both companies and consumers ability to take credit from the market. Moreover, it can also be discussed that interest rates have the potential to affect firms' cash flow as well as stock prices. Challenges faced by Australian Companies due to Volatile Interest Rates: The volatility of interest rates creates several challenges for the companies around the world. At the same time, it is also a key indicator for the stock market and performance of the company. In the words of Homer and Sylla (2011), the word volatility may be defined as a measure of variability over a particular time of period. The volatility in interest rate can be measured in different ways like how much the rate of interest moves down or up on an average basis, measure through standard deviation, and variance. But essentially, measure through: how the interest rate tends to down and up on an average basis over a specific time period is widely used to calculate the interest rate. Mclnerney and Zastawniak (2015) depicted that due to volatile interest rates in the economy, it is difficult to make financial planning for business entities. It is because due to continuous changes in the interest rates, companies faces many financial issues related to borrowing capital or maintain a sus tained capital structure that further affect on the business profitability. The main reason is that it becomes hard to plan and predict profits if the rate of interest on borrowed capital is variable. In Australia, volatility in interest rates is used through many business cycles and boom which resulted in rapid inflation in the economy. Thus, in relation to the third hypothesis, it is analyzed that the companies face many challenges due to volatility interest rates. It is because interest rates directly affect the financial position and financial stability of the company. The challenges such as pricing products, maintain growth rate, manage borrowing costs and cost of capital are generally faced by the companies in the situation of volatile interest rates. According to Malley (2014), in the situation of volatility, it becomes difficult to maintain growth of the company and return on investment. For the reason, the companies face different borrowing costs and operating costs which affect the profitability of the company. Additionally, due to unnecessary volatility of interest rates the companies face challenge about planning to adopt a more vigilant approach for their hiring policies in a significant way. It makes difficult to take decisions related to financial investments. Furthermore, a volatile interest rate incr eases the volatility in economy and in a volatile economy a business faces many risks related to its operational activities. The business firm faces risk of long term uncertainties that make strategic planning complicated. The stable and low interest rates are helpful for the companies to increase their leverage. But, in the situation of volatility, many corporate left susceptible and faced a challenge to manag their financial risks. Moreover, Chadha and Holly (2011), depicted that if the interest rate increases it will make companies less price competitive in the global market. It is because due to the increase in the interest rates, companies cannot make an appropriate pricing strategy because it affects the companys profitability and balance sheet. It may be illustrated as diminished export orders, fewer jobs, and lower profits of the company. For example, the decline in export orders creates the challenge of managing business certainty in the competitive market. Thus, it can be concluded that the volatile interest rate is not good for companies because it affects the cost of capital and the financial stability of companies and leads to an unstable capital structure. It can also be stated that many challenges are faced by companies due to the interest rate changes resulting on impacting their profitability position and long-term survivability. Health Care Companies Performance in last 3 years Year Health Care Companies Sales (US$ millions) Share Prices 30th June ($) Dividend per share 2015 Ansell $1645 $24.09 8.4% 2014 $1590 $19.83 12.1% 2013 $1373 $17.63 10.2% 2015 Cochlear Limited 941.9 80.15 190 2014 820.9 61.70 254 2013 715.0 61.71 252 2015 (CSL Limited Australian $) 5733 86.47 1.39 2014 5459 66.55 1.15 2013 5335 61.58 0.95 (Annual Report, 2015) Conclusion After examining the literature on impact of the interest rates on the stock market, it can be concluded that both terms are associated with each-other. It can be concluded that the changes in the interest rates negatively impacts on the stock market. It is because the interest rate changes affect the required rate of return, future cash flows, and firm's profitability and earning position consequently affecting the stock market. For example, it can be stated that the increase in the interest rate reduces the cash flows' growth, and increase the required return causing a decline in the stock market. In addition, it can also be concluded that the changes in the interest rates create several challenges such as unstable capital structure, difficult to pricing the product, and preserve the growth rate. Thus, it becomes essential to maintain stable interest rate in an economy to ensure the success of the companies as well as the stock market. Additionally, it can also be concluded that all the hypothesis are proved. It is because it is found in relation to the first hypothesis that the interest rates changes affect negatively the stock market by impacting on the prices of the stock as well as returns. Similarly, second hypothesis can also be proven as it is found that a negative relationship exists among the variables namely cash flow, interest rates, and the stock market. Lastly, the third hypothesis can also be proven as it is found that companies face various challenges due to the changes in the interest rate. References Annual Report (2015) Available at: https://www.ansell.com/-/media/Files/Ansell/Documents/Ansell-SAR-2015_web.ashx?la=en-US [Accessed: 10th October, 2016]. Annual Report (2015) Available at: https://www.cochlear.com/wps/wcm/connect/2a3956c0-f09d-4ce7-a8c9-8b0ddccf1999/en_corporate_annualreport2015_financial_1.54mb.pdf?MOD=AJPERESCONVERT_TO=urlCACHEID=2a3956c0-f09d-4ce7-a8c9-8b0ddccf1999 [Accessed: 10th October, 2016]. Annual Report (2015) Available at: https://www.csl.com.au/docs/99/1023/CSL_AR_2015_sec,1.pdf [Accessed: 10th October, 2016]. Chadha, J. and Holly, S. (2011) Interest Rates, Prices and Liquidity: Lessons from the Financial Crisis. Melbourne: Cambridge University Press. Homer, S. and Sylla, R. (2011) A History of Interest Rates. Sydney: John Wiley Sons. Jha, S. (2011) Interest Rate Markets: A Practical Approach to Fixed Income. Australia: John Wiley Sons. Madura, J. (2008) Financial Institutions and Markets. USA: Cengage Learning EMEA. Malley, C. (2014) Bonds without Borders: A History of the Eurobond Market. Sydney: John Wiley Sons. McInerney, D. and Zastawniak, T. (2015) Stochastic Interest Rates. Melbourne: Cambridge University Press. Nissim, D. and Peman, S. H. (2003) The Association between Changes in Interest Rates, Earnings, and Equity Values. Contemporary Accounting Research, 20(4), pp. 775804. Osborne, M. (2014) Multiple Interest Rate Analysis: Theory and Applications. Sydney: Springer. Oxelheim, L. and Wihlborg, C. (2008) Corporate Decision-Making with Macroeconomic Uncertainty: Performance and Risk Management. Oxford University Press. Reifner, U. and Schroder, M. (2012) Usury Laws: A Legal and Economic Evaluation of Interest Rate Restrictions in the European Union. Australia: Books on Demand. Reilly, F. K. and Brown, K. C. (2011) Investment Analysis and Portfolio Management. USA: Cengage Learning. Tas (2008) Essays on Exchange Rate Risk, Asset Returns and Trade Flows in East Asian Emerging Market Economies. USA: ProQuest. Van Rooij, M., Lusardi, A., and Alessie, R. (2011) Financial literacy and stock market participation,Journal of Financial Economics,101(2), pp. 449-472.

Project Management Project Life Cycle

Introduction Projects are temporary endeavours. They are constrained by time, scope, and monetary resources. Projects must fulfil specific goals and objectives as explained in various phases that constitute the project life cycle. A project life cycle begins with scope definition followed by planning, execution, and finally delivering (Cadle Yeates 2001). An important aspect of project management, which cuts across all these phases, is project evaluation. For instance, in the execution phase, the evaluation involves the attempt to establish whether various objectives and goals of the different stages of project execution process are realised (Zekic Samarzija 2012, p.101). The goal of this paper is to discuss the process of project management in a project whose scope was defined as ‘designing and construction of 150-gigalitres expandable to 200-gigalitres desalination plant in Victoria.Advertising We will write a custom report sample on Project Management: Project Life Cy cle specifically for you for only $16.05 $11/page Learn More Although the discussion of the project is limited to four stages that characterise the life cycle of a project (defining, planning, execution, and delivering), the stages are also part of the nine project management knowledge areas defined by PMBOK. Thus, the knowledge areas are found necessary in the discussions of this paper. PMBOK is ‘a collection of processes and knowledge areas that are generally accepted as the best practices within the project management discipline’ (Haughey 2012, Para. 1). These knowledge areas include scope management, cost management, time management, risk management, integration management, procurement management, and communication management. Definition Phase The definition phase involves the establishment of goals, specifications, tasks, and responsibilities in a given project. The goal of the Victorian Desalination Project was to enhance the augmentation of water supplies within Geelong and Melbourne areas and their surroundings. Thus, the project was to be implemented in a manner that would make sure that this goal was precisely achieved within time and resources constraint. From the paradigms of PMBOK, the definition phase encompasses the scope management. Scope management houses components such as ‘scope initiation, scope planning, scope verification, scope definition, and scope change and control’ (Tolbert 2008, p.57). The announcement of the intention to construct an Australian largest desalination plant on 19 July 2007 marked the scope initiation phase for the Victorian Desalination Project. The specification for the project was stated as planning and erection of a desalination project with a volume of 150-billion litres and flexible to 200 billion litres (Kjorstad 2010, p.7). Another specification required the plant to have seven channel-linking areas for water supply to Melbourne and other regions in South Gipps land (Government Initiatives 2012, Para. 6). Additionally, the plant had to have underground power supply, which spans a distance of 87 km. These specifications defined the scope-planning component of management as one of essential areas of PMBOK. These specifications ensured that the planning phase would include the execution of activities, thus guaranteeing the achievement of the stipulated specifications. This implies that defining the specifications of the Victorian Desalination Project facilitated the development of procedures for allocating time and monetary resources to the project. The definition phase of a project also involves subdivision of all major deliverables of the project into small manageable deliverables or tasks. In case of Victorian Desalination Project, a list of these tasks is available from Government Initiatives (2012). For successful delivery of the desalination plant objectives, its construction involved tasks such as the elevation of 225 hectares of land to form a coastal park, with water surrounding it, mainly for public utilisation. Construction of ‘long tunnels for intake and outlet to protect the coast and beach –200-billion litre capacity coupled with 84-kilometre two-way water transfer pipeline–200-billion litre capacity’ (Government Initiatives 2012, Para.5) were also other major tasks that constituted the Victorian Desalination Project. Before defining responsibilities, scope verification is an important aspect of scope management. It refers to the process of formalising the reception of the plan’s range (Tolbert 2008, p.57). With regard to the desalination plant, scope verification was realised through conducting assessments followed by appropriate consultations on the likely impacts of the desalination plant. The assessment studies for the desalination plant determined whether the project was feasible. Upon declaration of the project as feasible, it became possible to define and allocate responsibilities.Advertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Defining responsibilities involves establishing various roles and functions of the various parties that are involved in project execution, control, and monitoring. In the case of the Victorian Desalination Project, the responsibility of the project manager was defined as leading together with management of various project teams. The project manager also engaged in responsibilities such as recruitment of staff and consultants, co-ordination of the groups that were taking part in the project work, maintaining project plans, monitoring the performance of the project, and provision of status reports among other tasks. A project manager achieves these responsibilities through the help of managers in different project work units (Turner MÃ ¼ller 2005, p.222; Pinto Trailer 2005, p.49) The government of Australia was the major proj ect sponsor. Its responsibilities were defined as availing resources for execution of the project, approval of budgets, leading the project board, and setting strategies for resolving issues beyond the mandates of the project board or project manager. The government also played the role of championing for the project and/or making major decisions regarding the manner of project execution. The definition of responsibilities also involves setting suppliers and project team members’ responsibilities. The suppliers have noble mandates for ensuring that ‘mandatory supplier requirements are met, managing the production and approval of the supplier side budget, making effective use of supplier resources within the approved budget, tracking performance of consultants, and taking the appropriate actions’ (Pinheiro 2010, p.9). In addition to playing these responsibilities in the Victorian Desalination Project, the definition of suppliers’ responsibilities also inclu ded managing suppliers’ staff members who were taking part in the project, ensuring quality of the materials delivered, and engaging in constant communication with the project managers to ensure smooth and consistent supply of materials to avoid delays. Project team members are involved directly in the implementation of a project. They ‘provide functional expertise in an administrative process; work with users to ensure the project meets business needs and document and analyse current and future processes’ (Zekic Samarzija 2012, p.105). For the Victorian Desalination Project, members were also required to facilitate mapping together with the identification of information needs, conducting user training, providing a definition for necessities in interfacing, and reporting practices. Planning Phase The planning phase of a project incorporates aspects such as budgeting, resource planning, risk analysis and mitigation, scheduling, and staffing. From the context of P MBOK, cost management engulfs all vital tasks that are paramount in facilitating the completion of projects within budgetary constraints (Haughey, 2012). Before the desalination project commenced, costs budgeting was done. It entailed assigning the general cost approximations to individual job performance (Tolbert 2008, p.58). The project was estimated to cost the government approximately 3.1 billion dollars. Desalination plant was budgeted to take 47 percent of the total cost of the project. Marine structures were budgeted to take 18 percent while power supply was to take 7 percent. The transfer pipeline budget was 28 percent of the total capital cost (Mitchell et al. 2008, p.15). However, resulting from the financial crisis in 2009, additional costs were encountered, thus prompting borrowing of extra funds. Resources that had to be planned for included materials for construction, human resource (staffing), and equipment. Upon conducting resource planning, the tender was awarded to AquaSure. The company proved that it had the required human resource capacity, technology, and equipment for executing the project. Millar and Schneiders (2011) support this claim by reckoning that AquaSure had ‘high energy efficiency membranes, producing high quality desalinated water matching Melbourne’s world-class water, with a solution that provided certainty to the delivery of water by the end of 2011’ (Para.3). The proposal by the company revealed that it was ready to offer highly dependable services. The Victorian Desalination Project’s evaluation of bids was conducted by the end of 2009. In the same time, awarding of the contract was done. In the case of sequencing of the project’s activities that Murch (2001) and Nicholas (2001) refer as scheduling, various parts of the desalination plant such as marine structures, power supply, and transfer pipeline were allocated different times for starting and completion. The operation of the project was scheduled for December 2011. This date was set following the scheduling of completion of the project between September 2010 and June 2011. However, the operation date of the project was never realised.Advertising We will write a custom report sample on Project Management: Project Life Cycle specifically for you for only $16.05 $11/page Learn More Projects encounter different types of risks, which may result in their failure. Consequently, the planning phase for projects requires development of strategies for risks management (PMI 2000). Risk planning entails identification and setting of strategies for responding to probable risks in a project (Alexander Sheedy 2005; Kallman 2011). The main objective is to exploit the likelihood and cost of constructive proceedings besides reducing the chances and impacts of unfavourable actions on project goals (Mitchell 2008). In case of the desalination project, the government, the states and the contracted comp any agreed to assume various risks. In the planning phase, the various risks that were likely to affect the project were identified. They included site risks, scope risks, designing, constructing, and commissioning risks, operational risks, industrial relations, law alteration risks, asset risks, and finance and sponsor risks among others. The state was to assume site risks, risks of key approval, natives’ claims, and land acquisition risks. AquaSure assumed environmental contamination and site conditions risks. Scope risks were planned to be taken up by the state. AquaSure planned to assume equally the threat of postponement of conclusion time together with the amplified building expenses accruing from other risks such as court rulings that prohibited the advancement of the scheme and law alterations. Lastly, AquaSure planned to take care of the risks of design and construction of various power supply and water systems. Execution Phase The procurement department initiated th e execution process by acquiring services and materials. The process of procurement required good management of the acquired material resources to ensure they were of the right quantity and quality. In the effort to ensure that the venture advanced as designed, the project administrator was required to prepare project development status statement. The government submitted and reviewed the reports. It was in charge of ensuring that the project delivered its deliverables on behalf of the public. Status reports were essential in ensuring the project delivered its set objectives as predetermined in the idea conception and planning stage. In the execution of the project, change was inevitable. Bad weather and the impacts of economic crunch experienced in 2009 together with technical difficulties in the construction process made it necessary to make changes of the completion date of the project by extending it by one year. As part of change management, following the economic crunch on 200 9, there were a myriad of change controls especially in matters of the project financing. These changes included procurement of various alternatives for funding to cater for the increased costs of resources for the project. These changes were incorporated to ensure that the quality of the final project remained as planned and specified in the project scope definition phase. Monitoring and control of the Victorian Desalination Project was vital in ensuring the project remained on track never to slip from the path. Monitoring and control of the gathered data provided the means of forecasting the capacity of the project to comply precisely with the performance thresholds upon its completion as anticipated and developed in the planning phase. Forecasting also ensured that the project deliverables profiled the quality standards established for desalination plants. Through the project forecasts, the extents and thresholds to which the desalination project risks were mitigated so that they do not influence future performance of the project were determined. Delivering Phase Upon completion of a project, the project manager garners and releases the necessary documents detailing resources that have been consumed. These documents are then transferred to the project sponsors (Dessler 2004). In the case of the Victorian Desalination Project, managers sought administrative and legal acceptance of the project after having evidenced that the project delivered the objectives and goals that led to its creation. When the project is accepted, the project manager releases the various staff members off their duties and responsibilities since the project does not exist anymore. Releasing staff people sets in the stage in which the project owner’s or sponsor’s staff that will be in charge of operating the project are trained on the project operations (Dessler 2004). For this project, AquaSure was the designer and the project executor. The company would also maintain and run the project operations for the next 27.7 years after are completion in December 2012. This implied that the organisation was to supply and train the human resource required in running the Victorian Desalination Project.Advertising Looking for report on project management? Let's see if we can help you! Get your first paper with 15% OFF Learn More Before declaring that the Victorian Desalination Project was completed successfully, information on the extent to which all stakeholders were satisfied by the project, considering their claims, which translated into conflicts of interest in the planning phase, were provided. Such concerns also formed the basis of documentation of various lessons learnt from the project in a bid to ensure that other similar projects do not incur similar challenges in the future. Since the perceptions of the stakeholders on the project were satisfying and consistent with the performance and design requirements of the project, the project manager declared the Victorian Desalination Project complete, hence closing in December 2012. References Alexander, C. Sheedy, E. 2005, The Professional Risk Managers’ Handbook: A Comprehensive Guide to Current Theory and Best Practices, PRMIA Publications, New Jersey, NJ. Cadle, J. Yeates, D. 2001, Project Management for Information Systems, Pearson Educatio n, Malaysia. Dessler, G. 2004, ‘Project Management Principles and Practices’, Journal of Project Management, vol. 3 no. 2, pp. 345-357. Government Initiatives 2012, Desalination project, https://www.water.vic.gov.au/water-grid-and-markets/desalination. Haughey, D. 2012, The Project Management Body of Knowledge (PMBOK), https://www.projectsmart.co.uk/pmbok.php. Kallman, J. 2011, ‘Risk Management Process’, Journal of Risk Management, vol. 2 no. 3, pp. 121-125. Kjorstad, J. 2010, ‘Featured Global Projects,’ Infrastructure Journal, vol. 1 no. 2, pp. 1-80. Millar, R. Schneiders, B. 2011, The Price of a Drink, https://www.theage.com.au/national/victoria/the-price-of-a-drink-20111211-1opia.html. Mitchell, K., Wimbush, N., Harty, C., Lampe, G. Sharpley, G. 2008, Environment Effects Statement: Victorian Desalination Project Report of the Inquiry to the minister for planning, Australian Institute of Publication, Australia. Murch, R. 2001, Project Manag ement Best Practices for IT Professionals, Prentice Hall, USA. Nicholas, J. 2001, Project Management for Business and Technology 2nd edition, Prentice Hall, USA. Pinheiro, A. 2010, ‘How Do Managers Control Technology Intensive Work?’, Journal of Technology Management and Innovation, vol. 5 no. 2, pp. 1-12. Pinto, J. Trailer, J. 2005, Leadership Skills for Project Managers, Project Management Institute Inc., New York, NY. PMI 2000, A Guide to the Project Management Body of Knowledge, Project Management Institute Inc., White Plains. Tolbert, L. 2008, ‘Nine Knowledge Areas’, Journal of Community Academy, vol. 2 no. 2, pp. 56-59. Turner, J. MÃ ¼ller, R. 2005, ‘The Project Manager’s Leadership Style as a Success Factor on Projects: A Literature Review’, Project Management Journal, vol. 7 no. 3, pp. 219-234. Zekic, Z. Samarzija, L. 2012, ‘Project Management of Dynamic Optimisation of Business Performance’, International Busine ss Research, vol. 5 no.12, pp. 99-111. This report on Project Management: Project Life Cycle was written and submitted by user Damari Herman to help you with your own studies. 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