Businesses and organizations Essay Example for Free

Organizations and associations Essay â€Å"Businesses and associations utilize different sorts of data frameworks to help the numerous procedures expected to do their business capacities. Every one of these data frameworks has a specific reason or center, and each has its very own existence. This â€Å"life of its own† idea is known as the frameworks improvement life cycle or SDLC, and it incorporates the whole procedure of arranging, building, sending, utilizing, refreshing, and keeping up a data framework. The advancement of another data framework includes a few unique, yet related exercises. These exercises, or stages, for the most part incorporate arranging, examination, structure, usage, and upkeep/support. As it were, SDLC is an applied model that aides venture the board in data framework development.†(Wikibooks) The existence cycle begins with fundamental examination which all the accessible data required for the framework components and portion of the necessities to the product are accumulated. Next is the investigation of the prerequisites. This includes the expert understanding the elements of the product which is required for the framework based off the accumulated data. At that point is the framework structure in which the expert plans and concludes the most appropriate plan for the framework. The troublesome advance of framework coding or improvement comes next which is the place the examiner interprets the plan and projects into code for the PC. After the past strides next are the trying stage where the framework is trying to check whether it functions as expected or not. At that point is execution where the framework is given to the client and input is come back to safeguard the program functions as proposed. Lastly framework support is the last advance, here the expert guarantees the framework stays working inside the correct limits and capacities fittingly and fixes any issues. I think this identifies with database improvement in various manners. One is the means by which it begins, gathering data and finding the goal of the framework. Next you should design out how to set up the database, by deciding the essential data. At that point comes the minor subtleties. You set up your database fill in some test data protect it works appropriately and make required changes. At last you execute your database plan where in it works appropriately you just keep up and fix any mistakes. 2. Look into â€Å"Requirement Analysis† on the web. What sorts of theme heading do you find? I discovered features like â€Å"Business Requirement Analysis†, â€Å"Software Requirement Analysis† and â€Å"Five normal blunders in necessities examination (and how to dodge them)† References Wikibooks Systems Analysis and Design/Introduction-Open book for an open world http://en.wikibooks.org/wiki/Systems_Analysis_and_Design/Introduction

Eyewitness Testimony Essay

The criminal equity frameworks in Australia and all through the world depend on proof to indict people associated with a wrongdoing. Beforehand, criminal specialists depended upon observer represents their examinations however mental research shows that onlooker declaration isn't generally exact and ought not be utilized in the criminal equity framework as a sole bit of proof (Sangero and Halpert, 2007). Various research papers and articles have forewarned the utilization of observer declaration because of numerous cases exclusively basing their decision from this proof. Considering DNA proof, many indicted for a criminal offense have been excused of their sentences. The utilization of ID tests found in various papers explains why witness declaration can be incorrect and untrustworthy. Investigations made during the time testing onlooker accounts dig into factors partner occasion qualities, observer attributes and target attributes and how they add to the recovery of data from an obs erver. These variables explain with regards to why witness declaration ought not be utilized exclusively as proof in the criminal equity framework but instead another constituent in distinguishing the individual of enthusiasm for a criminal examination. In 1992 a non revenue driven association was framed to help those indicted and condemned to a wrongdoing they didn't submit. The Innocence Project was framed by Barry C. Scheck and Peter J. Neufeld in association with Cardozo school of law at Yeshiva University to help absolve those saw as blameworthy by means of DNA testing (Benjamin N. Cardozo School of Law at Yeshiva University, 1997). As indicated by The Innocence Project, 75% of onlooker declaration which were utilized to convict associated lawbreakers in the United States with America was incorrect considering DNA testing. In one such case in New Zealand, a man named David Dougherty was seen as blameworthy of assault and kidnapping of a young lady who argued against him in the official courtroom just like the man that assaulted her (Cleave and Gower, 2012). Mr Dougherty was vindicated of the 1992 assault in 1997 because of the way that specialists at long last reasoned that there was deficient DNA proof to demonstrate past a doubtâ that he was the culprit (Fairfax NZ News, 2009). In spite of the fact that DNA proof excused Mr Dougherty of the wrongdoing, many accepted he was the culprit because of the onlooker declaration, and master assessments were obfuscated because of the exposure of this case. It was distinctly until an abroad master affirmed for Mr Dougherty that he was absolved (Fairfax NZ News, 2009). This case shows the blunders made by the person in question/onlooker and how certain she was of the suspect and The Innocence Project has demonstrated that observer declaration is regularly mixed up. It has been generally recorded during the time that mixed up recognizable pieces of proof were associated with most of cases analyzed by mental specialists (Penrod, 2005). Research has recommended that during a police examination, onlookers would now and again be liable to see more than one line-up to help distinguish a suspect (Palmer, Brewer, and Weber, 2010). Early research has refered to that more viewings of potential suspects ought to hypothetically improve the precision of the onlooker picking the guilty party (Penrod, 2005). Latest research has discovered that different line-ups can impede resulting recognizable proof exactness in this manner reasoning that the more line-ups an observer experiences, the more space for blunder in picking the subject being referred to (Palmer, Brewer, and Weber, 2010). This examination concentrated on post-ID criticism and isolated their investigation into two fundamental regions: affirming input and disconfirming input to see whether these would influence how the onlooker will continue with resulting line-ups. As per Palmer, Brewer and Weber, Just observers who got criticism after an underlying right dismissal performed at a level tantamount with a solitary lineup control gathering, proposing that an underlying recognizable proof test can hinder, yet not upgrade, execution on a subsequent test including a similar guilty party (Palmer, Brewer, and Weber, 2010). It is recommended inside this examination that criminal examinations abstain from utilizing various line-ups to guarantee that progressively honest people of intrigue are not indicted because of incorrect observer exactness. In Addition to this exploration it has likewise been discovered that observer blunders increment when people of intrigue are picked out of a photograph show as opposed to a real lineup (Lindsay and Wells, Improving Eyewitness Identifications From Lineups: Simultaneous Versus Sequential Lineup Presentation, 1985). These blunders are accepted to have something to do with the individual administrating the lineups or photograph exhibits (Wells, Rydell, and Seelau, 1993) in this way controlling the eyewitness’ decisions in distinguishing a suspect inside a lineup and resulting lineups (Phillips, McAuliff, Kovera, and Cutler, 1999) as recently found. This mistake is settled effectively by selecting somebody to oversee lineups or photograph exhibits that don't have a clue who the suspect might be (Wells and Bradfeild, 1998). Besides, examine has discovered that the more drawn out the time interim between the occasion and observer account, the presumable it is that the onlooker record will be wrong (Loftus, Miller, and Burns, 1978). Another factor identifying with occasion attributes is that of separation. Numerous investigations have demonstrated that separation between the observer and the objective (suspect) will affect memory and facial acknowledgment (Lindsay, Semmler, Weber, Brewer, and Lindsay, 2008). In one such analysis, it was inferred that observer acknowledgment disintegrated as the separation among them and the objective expanded (Wagenaar and van der Schrier, 1996). In many observer declaration, it is dependent upon the onlooker to review the separation among them and the objective. Already, the courts depended upon the 15 meter rule: the ideal review separation for an observer (Wagenaar and van der Schrier, 1996). Lindsay et al. (2008) recommended to the courts that instead of depending on the 15 meter rule, when all is said in done, distinguishing pieces of proof will diminish with an expansion in separation consequently it is dependent upon the courts to choose whether the onlooker accounts are valid or not. Observer attributes likewise factor in to the conversation of how solid onlooker declaration is in the criminal equity framework. As per an examination concentrate by Wells and Olsen (2003), sexual orientation has next to no to do with how well females perform to guys as far as onlooker distinguishing proof, albeit the two sexes vary by they way they see the occasion/scene. The age of an observer majorly affects onlooker recognizable proof as kids and the older were found to perform inadequately according to youthful grown-ups when examinations were directed (Wells and Olson, 2003). Another figure incorporated the observer attributes is that of race. It has been completely explored and i nferred that individuals are better at recognizing facial highlights of their own race than those of different races (Meissner and Brigham, 2001). This information is valuable for those areasâ in which are socially the equivalent however for multicultural areas, to be specific Australia; it would have little centrality the declaration couldn't be checked except if there was other implicating proof against the suspect. One silencer of facial acknowledgment is that of a weapon. A weapon is accepted to decrease the capacity of an observer to accurately distinguish a suspect because of the consideration been drawn from the culprits face towards the weapon/object (Steblay, 1992). In the official courtroom, this part of whether the observer gave a lot of consideration to facial highlights to have the option to accurately recognize a suspect turns out to be to some degree an issue. Onlooker declaration is â€Å"self-report† and can't be checked or cross referenced with different realities as it is absolutely mental and dependent on how well the observer accepts they have held adequate facial acknowledgment (Wells and Quinlivan , 2009). The certainty and sureness of an observer has been every now and again allowable in the criminal courts and the criminal equity framework has recently depended upon the onlooker surveying his/her own mental abilities. This has been altogether investigates as being conviction refrain precision (Wells and Quinlivan, 2009). In most of the exploration directed testing this, it has been discovered that the observer conviction has a moderate relationship with precision (Penrod, 2005) in this manner the criminal equity framework can't demonstrate whether the onlooker declaration is mixed up or right. At last there is the factor of target attributes. As recently expressed, facial acknowledgment is increasingly exact when of a similar race. Another factor however is that of uniqueness and whether the objective (suspect) has an unmistakable face. It has been investigate that extremely alluring or exceptionally ugly targets are simpler to perceive than normal looking faces (Wells and Olson, 2003). Changes in facial qualities additionally assume a job in whether an onlooker can review what they saw. Changes in the face that are of normal event, for example, haircut, and masks can significantly influence recog nition(Wells and Olson, 2003). As far as whether these kinds of observer accounts are to be utilized in the criminal equity framework is basic as a suspect ought not be sentenced exclusively on onlooker declaration however be utilized as an asset with other proof which may implicate the individual of intrigue (Sangero and Halpert, 2007). Mental research shows that observer declaration isn't generally precise; in this manner it ought not be utilized in the criminal justiceâ system exclusively as a bit of proof. To have the option to convict and sentence a suspect, in light of a legitimate concern for the courts other proof must validate such cases of blame. Factors, for example, occasion attributes, onlooker qualities and target qualities clarified in this paper show that observer te

Understanding Profitability Index Method

Understanding Profitability Index Method The profitability index is a ratio of an investment’s benefits to the cost involved in making the investment.It is an index used to measure the present value of future cash flow compared to the initial investment.This measurement is more of a prediction of the profitability of investing in a given project. It helps you or the company using it to decide whether to invest in a project or not.This index can be used by individual investors to make investment decisions.However, it is mostly used by companies which are about to venture into projects and they need to know their viability. It is also used to compare two or more different projects so as to decide which one to invest in.The use of the profitability index is in line with the need to maximize investments while lowering costs.As you make an investment, your goal is to gain significant returns which will offset the initial investment you put in.This is basically how you make profits from your investments.Other terms for the prof itability index are the Profit Investment Ration (PIR) and the Value Investment Ratio (VIR).When considering several investment-grade projects, the profitability index serves to rank the projects in order of best return on initial investment.This makes it easy for you to choose which one to go for.The higher the profitability index, the better the returns to be realized.PROFITABILITY INDEX FORMULASThe profitability index is calculated using several variables which depict different aspects of the investment.There are two different formulas used.Let’s look at them separately.Formula 1This is the more simple and direct formula. It uses the present value of future cash flow and the initial investment required.PI = Present value of future cash flow / Initial investment requiredThe present value of future cash flow seeks to understand how valuable the returns to be received are. This is based on the reasoning that $1 held today cannot be of the same value as $1 next year.This reasoning is true because the value of money never remains constant. This is not because the value can itself change but because its purchasing power can, and does, change.One of the biggest determining factors of the purchasing power of money is the ever-changing force of demand and supply. If the supply of a commodity is low, then the product becomes expensive.The amount of money you previously needed to buy the product is then no longer enough. Source: Hands on bankingAnother factor which indirectly affects the demand and supply while directly affecting the value of money is inflation.High inflation makes life expensive, thus the value of money goes down.These factors are what lead investors and companies looking for an investment to calculate potential returns.They need to know how much value the future returns will have if they were held today.Example calculationThe management of company A is thinking of building a new factory to supplement its current factory’s operations.They are projecting an increase in demand for their products. In order to be able to handle the new orders, they are considering this move.Since they don’t want to invest in a project which won’t provide good returns, they give their finance team some work. They are to calculate the profitability index of the new investment.The expected cash flow is $250,000 and the initial investment is $200,000. below is the calculation of the profitability inde x.PI = Preset value of future cash flow / Initial investment requiredPI = 250,000 / 200,000 = 1.25With a PI of 1.25, the project is worth undertaking. Any index greater than 1 is a sign of good returns.Formula 2The second formula requires more calculations to be done. It is shown below.Profitability Index Formula = 1 + (Net Present Value / Initial Investment Required)To use this formula, you will need to find the Net present value. The Net present value is arrived at by using the below formula.Net present value = Present value of future cash flow â€" Initial investment requiredExample calculationTo show how both these formulas give the same results, we will use the example from the first formula.With the initial investment being $200,000 and the present value of future cash flow being $250,000, here is what the calculation would be like.First, calculate the Net present value.Net present value = Present value of future cash flow â€" Initial investment requiredNet present value = 250, 000 â€" 200,000 = 50,000Now calculate the PI.PI = 1 + (Net Present Value / Initial Investment Required)PI = 1 + (50,000 / 200,000) = 1.25In other instances, you may have a list of the specific expected cash flows for every year the new project is to run. In that case, the same formulas stand, only that you will have a longer process to follow.This process adds another factor called discounted value. This is essentially the present value of the future amount.This is from the earlier-mentioned idea that the current value of money is not equal to its value later in time, e.g. 1 year later.Generally, money to be received later in time is considered to have a lower present value than money held in the present.Discounting therefore reduces the amount of money by a specific percentage.Let’s look at an example.Company X is considering an investment. In its calculations, the expected cash flow for the first 3 years are $70,000, $65,000 and $82,000. The initial investment is $120,000. To ca lculate the PI, we will first need to get the total present value of those projected earnings.Since the present value has to be a discounted amount of the figures, here is what to do assuming a discount rate of 10%.Present value = Estimated cash flow value / (1 + Discount rate) ^ nWhere n is the number of year in which the given cash flow amount is received.We will calculate the discounted values then add them up to get the total present value.Year 1: 70,000 / (1 + 0.1) ^1 = 63,636.36Year 2: 65,000 / (1 + 0.1) ^2 = 53,719.01Year 3: 82,000 / (1 + 0,1) ^3 = 61,607.81Total: 178,963.18With this as the present value of cash flow, we then calculate the Profitability index.Keep in mind that the Net present value is attained by subtracting the initial investment requirement from the present value of future cash flow, which is what we have as the total discounted amount (178,963.18).PI = 1 + (Net Present Value / Initial Investment Required)PI = 1 + ((178,963.18 â€" 120,000) / 120,000)PI = 1. 49We can verify this using the first formula.PI = Preset value of future cash flow / Initial investment requiredPI = 178,963.18 / 120,000PI = 1.49INTERPRETING THE PROFITABILITY INDEX VALUEBeing a means of telling which project is worth investing in, the profitability index gives a number which you need to interpret.Just as the ratio of the calculation is important, so is the interpretation of the same.There are three different values or value ranges you can get from any of the formulas you choose.More than 1 â€" a PI value of more than 1 means that the project is a good investment. It is a sign that you will get more than you put in for the investment. Any time you calculate PI and get a value of more than 1, then consider the project viable.Equal to 1 â€" when you get a PI value which is equal to 1, it means that the investment will give the very amount you put in. This is not a good project to invest in. When things are neutral, consider the chances of loss being higher than those of gains. Stay away from such investments.Less than 1 â€" any investment whose PI is less than 1 is a risky one. A value of less than 1 means that the returns are less than the initial investment. The project is a guaranteed loss-making investment. Run away.ADVANTAGES OF THE PROFITABILITY INDEXThe purpose of any formula devised to check investments for profitability is to provide guidance and assurance.Here are some good reasons as to why you should use the profitability index.Shows a project’s worthThe very nature of the profitability index will give you a good idea of the worth of the project you are looking to invest in.Being a ratio of the project benefits to investment cost, it cannot get clearer than this.This borrows from the concept of cost-benefit analysis.With this concept, anything you do has to be evaluated to find out whether the benefits outweigh the costs involved. Although the cost-benefit analysis is applicable in all areas of life, there is no situation better s uited for it than the investment world.Using the profitability index, you are able to see the kind of return you may get from an investment. The calculation process itself will give you helpful information and will force you to make some detailed considerations.For example, to get the estimated yearly cash flow from the project, you will have to do some math. This is different from other investment appraisals which consider the market rate and other external factors.Also, the calculation results have a clear way of showing whether a particular investment is worth your money.Accounts for risk involvedThe profitability index takes into account the ever-present risk factor which other formulas may not. Although the formulas have no variable called risk, the risk is factored in using the discounted valuation.When an expected cash flow is discounted by a certain percentage, this is the risk factor being taken care of.Those amounts get reduced depending on the riskiness of the investment. Thus a project which seems more risky will have the discount rate being higher than for the project which is less risky.The higher the discount rate, the more the expected cash flow is reduced. This gives an accurate picture of the true amount which can be practically realized as a return.This also helps in correctly comparing different projects so as to minimize the risk of making the wrong choice.Can help know how investment will affect the company’s value?Every move made by a company has an impact on the company’s overall value. If a company is expanding and the market indicates that this is a good move, the company’s value increases. If a company is involved in research and development and it announces a major breakthrough, its value will go up.On the other hand, if a company experiences a reduction in profits, its value goes down. If this happens for two consecutive years, stock prices get affected and investors may sell their shares.Something similar happens with new pro jects undertaken by companies. If it is a good move and it’s bound to increase their profits, the company’s total value goes up.In this case, the profitability index can help a company avoid getting into a situation which will affect its value. Since the index clearly points to the profitability of a project, it enables the decision-makers sustain their company’s economic status.Takes the time value of money into considerationThis is another big advantage of using the profitability index. Investors know that the value of money is not always the same over time.However, not many stock valuation and investment-analyzing techniques factor this in their calculations.Because of that, most individuals and companies only look at the expected rate of return.From this they cultivate the amount of money they will receive after the investment period is over.This happens even for long-term investments.The obvious danger in this is that the money will be received but its value will very lik ely be low. The money may not be able to do much.This means that the returns will actually be less than what they were expected to be.   The profitability index takes this into account and reduces the expected returns accordingly. This is done through the discount rate.This rate checks the risk factor of the investment.But at the same time, it looks into the approximate value of the money to be received in view of the time invested.As such, whereas other profitability formulas will tell you how much you can make, this one will tell you the same but give you a more accurate picture in terms of return value.Makes it easy to pick an investment projectWhen faced with multiple choices for an investment, this index will not only tell you which ones are worth considering but it also ranks them for you.Calculating the profitability index of various projects will give you their viability in straight figures.Just looking at these figures will help you decide which one to go for. You will lite rally know which is number 1, 2, 3 etc.Moreover, since you have access to the figures involved in terms of the expected yearly cash flows, you can decide which one is giving you the best returns.For example, you may be looking at projects A and B. Project A has a PI of 1.5 and over the span of 3 years, has expected cash flows of $115,000, $107,000 and $113,000. Project B on the other hand has a PI of 1.4 with expected cash flows of $235,000 in year one, $256,000 in year two and $248,000 in the third year.You will have to consider other factors playing out in your company’s decision-making process.With that, you might decide to choose project B which gives you more cash flow.The project might however be requiring a higher initial investment.DISADVANTAGES OF THE PROFITABILITY INDEXWith the above advantages, some disadvantages also exist.These are the limitations you will experience out of using the profitability index to assess investment projects.Some of these are discussed below.E stimated future cash flow cannot be guaranteedThe profitability index does a good job in analyzing the expected returns.Despite that, it cannot give a guarantee that those amounts it comes up with are what you will receive.Those figures remain to be estimates, albeit accurate estimates.It will thus be upon the company, or you who is working for it, to understand that the given figures could still change.The issue of estimated figures is common knowledge to investors although they still need to keep it in mind as they make their choices.Different projects can have the same PIPI is a great indicator of a projects profitability. But what happens when you have two or more projects with the same PI? Which one do you pick?This can happen when the calculations of the variables used in the formula match. For example, consider these two examples.Project A has an initial investment of $200,000 and the present value of future cash flow is $250,000. Project B has an initial investment of $400,0 00 with the present value of future cash flow being $500,000. Both these projects will have a PI of 1.25.Which one do you go for?This shows a shortcoming on this index’s side. If it cannot totally differentiate between options, then it might increase the difficulty of making a choice.In such a case, other considerations will have to be made.Cannot compare projects of different durationsIf you want to compare the profitability of projects which have different life spans, the profitability index would not be ideal.When projects run for a long time, their cash flow will provide some extra returns compared to those which run for a short time. Yet you might be able to only choose one project.This will pose a challenge and the PI of both projects may not be the best ratio to rely on.CONCLUSIONThe profitability index gives you an opportunity to determine the profitability of an investment. It helps you further by ranking the various projects you are considering, thus making it easier to choose one.As with other formulas though, it is necessary to remember that these formulas are just but guides.The real returns may vary.