Andrew wished to buy a minibus for his domestic use of transporting equipments and friends. Last month, he visited Vehicles Trading Ltd (a company specialising in selling used vehicles) and viewed a silver minibus with a sale brochure and notice in the window reading: “2017 Supreme Escort Minibus. Special offer : HK$205,000; 30,000 miles; 12 litre engine and good little runner." Andrew discussed the minibus with the salesman who informed Andrew that the vehicle was in very good condition however it has a defective clutch (but it will drive with no problems for at least three months). The company would fix the clutch before purchase or Andrew could take the minibus in its present condition and could have a HK$5,000 discount if he wished to have the clutch fixed himself. Andrew thought that he can get the clutch fixed for a cheaper price and then purchased the minibus minus the HK$5,000 discount (net price HK$200,000). In his first week of ownership of the van, the clutch failed and Andrew has to tow the minibus to his local garage where he is informed of the following facts: The minibus is in fact stolen and does not belong to Vehicles Trading Ltd. Andrew checked the previous minibus travelling documents show that the minibus has travelled over 70,000 miles. The car has a 9 litre engine. The clutch will cost HK$8,000 to fix. Advise Andrew as to his rights under the Sale of Goods Ordinance with reference with the seller's implied statutory duties and Andrew's remedies against the seller.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
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