Ann and Ben are getting divorced and want todetermine how to divide their joint property: retirementaccount, home, summer cottage, investments, and miscellaneous assets. To begin, Ann and Ben are told to allocate100 total points to the assets. Their allocation is as shownin Table 69.Assuming that all assets are divisible (that is, a fractionof each asset may be given to each person), how should theassets be allocated? Two criteria should govern the asset allocation:Criteria 1 Each person should end up with the same number of points. This prevents Ann from envying Ben and Benfrom envying Ann.Criteria 2 The total number of points received by Ann andBen should be maximized.If assets could not be split between people, what problemarises? TAB LE 69PointsItem Ann’s Ben’sRetirement account 50 40Home 20 30Summer cottage 15 10Investments 10 10Miscellaneous 5 10
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.
Ann and Ben are getting divorced and want to
determine how to divide their joint property: retirement
account, home, summer cottage, investments, and miscellaneous assets. To begin, Ann and Ben are told to allocate
100 total points to the assets. Their allocation is as shown
in Table 69.
Assuming that all assets are divisible (that is, a fraction
of each asset may be given to each person), how should the
assets be allocated? Two criteria should govern the asset allocation:
Criteria 1 Each person should end up with the same number of points. This prevents Ann from envying Ben and Ben
from envying Ann.
Criteria 2 The total number of points received by Ann and
Ben should be maximized.
If assets could not be split between people, what problem
arises?
TAB LE 69
Points
Item Ann’s Ben’s
Retirement account 50 40
Home 20 30
Summer cottage 15 10
Investments 10 10
Miscellaneous 5 10
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