Sample Company’s Challenge Essay Example for Free

Sample Company’s Challenge Essay Sample Company has offices in Sacramento, New York, Chicago, Atlanta, Dallas and is currently working on a IPv4 infrastructure which poses a problem with future business operations. By the end of 2011, there will be no more IPv4 addresses. New customers and Internet traffic will be using the next-generation protocol: IPv6. The accelerating growth of the Internet presents powerful opportunities to transform the way we work, live, play, and learn. † (The Internet is in Transition, 2011). Do you want to be on the cutting edge of Internet possibilities or still working on the old IPv4 platform? ABC, Inc. s Solution: To successfully convert your company from an IPv4 to IPv6 platform. This business proposal will explain the advantages of a TCP/IP IPv6 infrastructure and how it will help to improve business operations. Now is the time to plan for this critical transition! Below, I will explain the numerous advantages of IPv6 over IPv4. In analyzing your company’s size and sales figures, I have noticed that there are 3,586 companies in the USA within your same industry and you operate smaller than average in annual business sales, number of employees, and revenue per employee but rank average for the amount of years in business. So you ask, why bother transitioning to IPv6 when we are a much smaller business than the average business in this industry? Do we really need to? The answer is yes and the reasons why are explained below. IPv6 Provides More Addresses: Most industries rely on the Internet and have seen significant gains in production and operations from this technology. Suppliers, customers, vendors, etc. use the Internet for orders, supply tracking, etc. The internet now plays a crucial role in most companies operations. While IPv4 has worked well for us for many years, the problem now lies in space exhaustion. It is estimated that IPv4 can only address 4 billion IP addresses. IPv4 is the protocol that provides these IP addresses which are like phone numbers or a home address that describes the physical location of the node or computer so that they may communicate with the Internet. The advantage of IPv6 is that it will use 128 bit addresses instead of the 32 bit addresses that IPv4 currently uses which caps us at the roughly 4 billion maximum addresses available. This means, there will virtually be enough addresses on IPv6 to address almost every device the particular network is utilizing. Therefore, when IPv6 increases the size and range of devices connected to the Internet, the benefit of the network effect will increase as well. â€Å"To provide equal opportunities worldwide, the Internet architecture must cope with rapid growth in consumer interest and usage. The forecast for growth leads to a new perspective on the demand for IP address space. Even without taking into consideration expected address allocation inefficiencies, IPv4’s 32-bit address space is inadequate to support a plethora of connected devices owned by one-third of Earth’s population. (Grossetete, Popoviciu, Wettling, 2008). IPv6 Security Advantages: Another advantage of IPv6 over IPv4 is security. IPv4 offers an optional IP security where IPv6 has it already built in. â€Å"IPv6 ensures that there are end-to-end security mechanisms that will provide authentication and encryption abilities to all applications and thereby eliminates the need for applications themselves to have integrated support for such abilities. The added benefit of using the same security mechanisms for all applications is that setting up and administering security policies becomes a lot simpler. IPv6 allows for complete end-to-end security thereby allowing for a new set of personalized services to be deployed such as mobile e-commerce services that rely on secure transactions. TCP/IP networks that are utilizing IPv4 are dealing with a host of issues encompassing security† (Das, K. 2011). In today’s Internet world, IPv4 platform security issues exist like connection hijacking, IP spoofing, and packet sniffing. There are not always solutions to these problems and if attempted solutions exist, they are usually at the Application level which creates a problem because they re not always operational between different applications or networks. While IPv6 is not a solution to all possible attacks and situations, it does address many lower level attacks which accounts for the majority of attacks on the average network. IPv6 and WANs: Your company has offices all over the nation which means you are utilizing a WAN or wide area network. IPv6 will work even better with WAN’s because â€Å"The expansion of the Internet is also tied to the rapid development and market penetration of enabling technologies such as high-speed broadband and wireless access. Many enterprises have shifted from point-to-point, ATM, and Frame Relay infrastructures to IP-based local- and wide-area networks (LAN and WAN) for basic business operations. Traditional voice carriers are migrating their voice network to IP-based transport to reduce or eliminate future capital expenditure (CAPEX) and operational expenditure (OPEX) related to redundant parallel network infrastructures. These IP-based technologies modify an application’s landscape by changing the use of the Internet from a client/server model to a more distributed model or peer-to-peer model. Very rapid and successful adoption of distributed applications such as Voice over Internet (VoIP), instant messaging, content sharing, and Internet gaming leads people with â€Å"always-on† and â€Å"always best† access to the Internet to be content producers as well as consumers. An expanded IP address space is necessary to support this paradigm change in the way the Internet is used† (Grossetete, Popoviciu, Wettling, 2008). IPV6 and VPN’s: Another advantage of IPv6 over IPv4 is the benefits it offers associated with VPN’s or virtual private networks. If you plan to implement a VPN or are currently running one, IPv6 will present new advantages. For example, in IPv6 it will be easier to implement a VPN because of the headers. IPv4 does not allow for multiple headers which creates a problem of compatibility within the firewalls of different vendors. IPv6 allows for multiple headers and eliminates this problem. Simply stated, this leads to faster routing. IPv6 and Networking: IPv6 creates a new platform that the Internet can operate on makes for the atmosphere of growth. One of the biggest advantages is the change from peer to peer networking to end to end networking. Peer to peer networking examples are VOiP, online video gaming, online video-conferencing etc. End to end networking allows for a group of computers to talk to each other without the need for process through a server first. That is a huge advantage! IPv6 and Better Node Configurations: Next, IPv6 trumps IPv4 because of node configurations. Every piece of equipment attached to a network must be configured properly and now it will be easier than ever with IPv6. This is because IPv6 offers automatic configuration versus the stateful configuration needed for IPv4. What does this mean you ask? It means that, â€Å"In stateless auto configuration, a host can automatically configure its own IPv6 address and does not need any assistance from a stateful address server. Entire IPv6 prefixes rather than just an address are delivered to a device. This particular feature enables routers to easily auto configure their interfaces and can be used very effectively in broadband access networks to dynamically provide customer gateways† (www. IPv6. com, 2011). IPv6 and the ease of administration: Another great advantage of IPv6 over IPv4 is the ease of administration. In IPV4, any new addressing must be done manually whenever there is a change to the network. With IPv6, you can now have numbering done automatically which makes for easier transitions in network changes of any sort. As you can see, the advantages of IPv6 over IPv4 are numerous. While there is much skepticism on how the transition with be costly and burdensome, it has actually been implemented already in various parts of the world. The earlier you start, the better off you will be should there be any kinds to iron out. This has to be a thoroughly planned event and takes time to changeover. IPv6 creates a new world of internet functionality and growth. Your business can flourish with the advantages of IPv6. As with any new technology, the price is typically higher in the beginning but the long run, you save money because your company is more efficient thus more profitable! â€Å"The improvement in network reliability would build the confidence of both enterprise and individual users in the integrity of network transactions. That would certainly yield high returns. † (IPv6: Its time, 2003).

Adolescent Sexuality and Risk Factors Essay Example for Free

Adolescent Sexuality and Risk Factors Essay Adolescence is that period between childhood and adulthood, when the adolescent is discovering his or her own identity and dealing with the transition. It is also a time of becoming more aware of sexuality and establishing patterns for future relationships. Those identifying as nonheterosexual i.e. Lesbian, Gay, Bisexual or Transgender (LGBT), face even more challenges than their heterosexual counterparts. One challenge is their health. Russell and Consolacion (2003) conducted a study on the topic of romance and emotional health of adolescents. The authors concluded that youth who had same-sex attractions and who were not in relationships showed increased measures of anxiety and depression. They also had more suicidal ideation than heterosexual youth. The dangers of smoking are well researched and documented. Easton, Jackson, Mowery, Comeau and Sell (2008) in their study concluded that same-sex and bisexual youth are at greater risk for tobacco use. The Center for Disease Control (CDC) notes that increased stress level, mental health and other physical health problems are common among LGBT youth (CDC, 2011). Ray (2006) in a study of homelessness among LGBT youth notes that they face a number of problems in additional to being homeless. They are at increased risk of mental health issues, high risk sexual behaviour to support themselves, substance abuse and victimisation. Education is important and LGBT adolescents face challenges in this area. Many of them are likely to be runaways so their education suffers as they are absent from school for long periods. Himmelstein Brà ¼ckner (2011) noted that these young people were also at risk for being more severely punished at school and in the justice system. They are also victims of violence and discrimination at school, often being bullied, teased and harassed (â€Å"LGBT bullying† n.d.). Counsellors working with adolescents who are LBGT must be sensitive to the feelings of uncertainty, rejection and fear that these young people are experiencing.

Project Management Challenges In Construction Of Emirates Stadium Construction Essay

Project Management Challenges In Construction Of Emirates Stadium Construction Essay The PMI defines project management as the art of directing and coordinating human and material resources through the life of a project by using modern management techniques to achieve pre-determined goals of scope, cost, time, quality and participant satisfaction (Smith 2002) Through the project management process, business needs and requirements are transformed into deliverables or outputs the project will provide to meet; this transformation process is made up application of constraints such as time, cost, quality, motivation and application of project management tools and technique.(APM 2002) According to Dinsmore, and Cabanis-Brewin (2006), project management processes are grouped into the following areas: they are initiating, planning, executing, monitoring and controlling and closing. A good project manager must be skilled in applying this knowledge and be able to integrate these activities as the project moves through its life cycle. The aim of this report is to critically evaluate the project management challenges and the management approaches in the construction of Emirate Stadium described in the groups presentation. Some of the challenges identified in group discussions includes; time constraints, planning approval, design and site constraints, procurement path, organizational/stakeholders management..This report compares some of the identified challenges with the established best practice in project management. The second part of the report is develop guideline for the 2012 Olympic Stadium which will include an overview of the difference between managing a single, simple project and a project that is part of a large complex programme of work, also to outline the project management challenges of the 2012 Olympic Stadium. 2.0 The Emirates Stadium 2.1 Background of the Emirate Stadium complex The need to generate additional revenue from the football event and also to provide a state- of the- art facilities for the fans is identified as the requirement for a new football stadium to replace the existing one .by Arsenal Football Club The Emirate Stadium is located in Holloway in London Borough of Islington town. The stadium is located in a high density residential area therefore restricting feasibility of increase capacity. Over 2000 new homes were built in Islington as part of the project. Two of the key points in the club brief to design team were for the pitch to be as good as Highbury, and to create an exhilarating stadium atmosphere through the design. Over 2,500 legal documents were signed in order to give the project full clearance. The overall project put at about 390million pounds. . It was opened in July 2006, with seated capacity of 60,432 making it the fifth largest football stadium in the UK (Source www.arsenal .com/emirates stadium.) Fig 2.1 emirates stadium under construction Source www.arsenal .com/emirates stadium.) Main Project management challenges identified by different groups Based on the group presentations some of the main project management challenges identified include: Time constraints, Planning and consent approval, Design and site constraints, Procurement path, Organizational/stakeholders management Document control Some of the management approaches considered by the group include; Involving contractor in early stage of the process Design and Build contract Site investigation Collaborating planning and possible overlap during construction to meet deadline Several procurement path Involvement of the stakeholders Redesigning to suit the shape of the site Understanding of the scope of the project. Evaluation of project management challenges and approach in the group work 2.4.1. Involving contractor in early stage of the process. This can help in integrating the contractors idea and expertise in the planning and design process, although, Austin, Baldwin and Wasket (2000) identified that it might result in uneven design workload while they wait for consultant and other contractors to develop their own design, this result in the client paying for retainer while the project is yet to start, thereby increasing the cost of the project. Therefore it might be beneficial to delay the introduction of contractor early 2.4.2 Time constraints It can be seen that in the case of Emirate stadium, delivering the project on time is very crucial; to enable the club to meet up with football season, Harrison and Lock (2004) stated that delivery a project on time is an extremely important objective to client as well as avoiding the risk of being skimped in respect of quality and reliability of being close to the budget but most time all the objective of the project cannot be met. 2.4.3 Planning and consent approval. Two sets of people are involved in planning; they the client and the contractor .Obtaining the consent approval and satisfying planning requirement as well as defining the project goals, ensure availability of funds and selecting the design is the primary responsibility of the owner, this is one aspect that group presentations did not consider. On the side of the contractor, proper planning and scheduling contributed to their delivering the project on time. 2.4.4 Contract /procurement strategy The contract strategy used in the construction of Emirate Stadium is identified as Design and Build. The type of contract is assumed to be the best when time constraint is considered, Rowlison and McDermontt (1999) reported that Design and Build approach involving overlapping of design and construction phases leads to economics and fast project, though the client has to limit the variation to minimum , finds evaluation difficult and also have to make early decisions. However, Aritua, Bower and Turner (2006) reported that Design and Build procurement options has been criticized for being cost rather than design quality driven. Chan and Yu-Ann 2005 identified design liability as the most important practical problem encounters in design and build system. 2.5 Best practice in project management The best practices in project management are those practices that are generally agreed that their application in the project has shown to enhance the chances of success over a wide range of projects. (PMBOK, 2004) Atkinson (1999) queried, if successful project management means doing something right, that result in a project which was implemented on time, within cost and to a quality parameters requested, but which is not used by the customers, not liked by the sponsors and does not seem to provide either improved effectiveness or efficiency for the organization Kerzner (2006) affirmed that best practices in project management are those actions or activities undertaken by the company or individual that led to a sustained competitive advantage, it can be learned from both failure and success. Defining project objective at the outset and establishing relative importance of these objectives is crucial (Smith 2002). The Primary objectives of the project are usually measured in terms of time cost and quality, whilst it may be possible to meet one or two of the objectives, meeting all three of them is almost impossible. (Smith, 2002). However, the general knowledge, skills and processes described in general agreement documents of project management should not always be apply uniformly to all projects, the project manager and the team is responsible for determining the appropriate process and tailored it down to suit the specific project, because every project is unique on its own. (PMBOK, 2004) 3.0 The 2012 Olympic Stadium complex Fig .3.0 Olympic Stadium complex under construction 3.1 The background of the 2010 London Olympic Stadium. The 2010 London Olympic Stadium is located at the south of Olympic park Stratford, East London. The EDAW consortium working with Arup and Atkins was appointed by Olympic delivery Authority (ODA) to develop the master plan and the design of the Olympic Park, while the design of the Olympic venue or the Athletes Village was tendered separately. In 2007, The Olympic Delivery Authority Signed a Memorandum of Understanding (MoU) with the consortium known as Team Stadium to design and build the Olympic Stadium. The consortium is made up the designer, Hoks sport. Main contractor Sir Robert McAlphine, structural engineer Burro Happold, service engineer and landscape designer. The project was estimated at 498miliion pound. The stadium consists of a lower tier of 25000 permanent. Seats set into the landscape with an upper tier of 55000 temporary seats. The sunken bowl built into the ground will contain the field of play and lower permanent seating. However, facilities for athletes within the Stadium include changing rooms, medical support facilities and an 80m warm-up track. Spectator services, refreshments and merchandise outlets will be located outside the venue on a podium that will surround the Stadium, rather than being located within the Stadium itself. Constructions began three months ahead of schedule and it is expected to be completed by 2011. In addition, construction works in other parts of the Olympic village is still on-going, while some are close to completion, others are yet to start. This is based on the planned milestone schedule set out by the Olympic Delivery Authority., According to the chairman of the Olympic Delivery Authority, some completion date has been moved further, this is to avoid the venue been completed and standing idle in the years before Olympic, as this call for additional cost of maintenance. (Culled from official site of 2012 Olympic). 3.2. The outline of the Olympic Stadium People will be able to see with their own eyes a stadium which is designed to be different: an innovative and sustainable design which uses temporary elements to meet a complex brief, a stadium built for both Games and legacy.(Olympic Delivery Authority Chairman John Armitt). The design of London 2012 Olympic Stadium is much more than dazzling or out of this world Architectural structure that is norm of modern day Olympic stadium. The emphasis in the design has been on minimizing the quantity of material, whilst still producing the required performance, ensuring the sustainability of the stadium after the games give rise for incorporation of some temporary structures. However, design and construction of such large and complex project need effective and efficient management to deliver the agreed scope of the project. The management approach in multi-projects is generally different from single project. Flexibility management process with explicitly define rules and procedure can be a source of success with large complex project. (Dietrich and Lehtonen 2005). Baccarni (1996) defined project complexity as project that consists of varied interrelated parts and be operationalised in terms of differentiation and interdependency .On the hand Coffman believed that complex project comprises of subset of project that are composed of so many different facets that no individual or small team possesses all of the knowledge, experience, or skills required to design and implement them. Considering 2012 Olympic Stadium as a part of Olympic park which consists of interrelated and multidisciplinary projects that demand exceptional level of management and system approach which will be described to be inappropriate for a single project Looking at the technical and organizational complexity of the Olympic park, it is clear that it requires involvement of lots of multi-disciplinary contractors, sub contractors, supply chain, trade, different technology and specialties. Williams (1999) sees technical complexity as a three-fold concept: the variety of task as the degree of interdependencies within these tasks, and the instability of the assumptions upon which the Tasks are based. Complex project requires proper structuring and scheduling in terms of Work Break down Structure and further down into related bid package for the qualified construction firms .to bid .For effective organizational management, the services of a planner, scheduler, contract administrator, legal advis er, procurement engineer, accountant will be require in a complex project unlike a single project where all the task will be handle by the project management.. Moreover, managing a large, multi-projects environment or complex projects is refers by some author as programme management, Fern(1991), stated that the common theme of programme management can be identified as the co-ordination of projects to gain benefits that it would not be possible to obtain were the projects managed independently. He also defined programme management as the coordinated support, planning, prioritization and monitoring of projects to meet changing business needs. Pellegrinelli(1997) pointed out that programme management is not same as multi-project management, that the nature and practice of program management are much more than resource management though management of scares resources or the establishment of appropriate information system is identified as core elements of programme management. Fern (1991), proposed single objective programme model as one of the generic models to describe how organizations define and practice programme management. According to Fe rn (1991), programme with single objective are often called macro-project or simple project which consists of large numbers of project which run concurrently, often employ large numbers of contractors and can benefit from programme management techniques. Furthermore, the differences between managing a simple project and a project that is part of a large complex programme, can be identify in the description of project and program by Pellegrinelli(1997) and Fern (1991), which states that project is a group of related task(activities) which together satisfy one or more objectives, while programme is a frame work for grouping existing projects (or defining new projects) and for focusing all the activities required to achieve a set of major benefits. Some of features of managing a simple single project include project manager been responsible for directing and coordinating human and material resources throughout the life of a project by using modern management techniques to achieve predetermined objectives, while a large complex programme involves having a programme manager facilitates the interaction of other managers and team manager responsible for work package. In addition, a single simple project have a set objective and self dependent for delivery, which entails, ensuring that trade-offs between scope, quality, time and cost are satisfactory and acceptable(Wideman,1990), while multi-project is interrelated and interdependent with other project in the programme. Significant increase in the number and independence of element between disparate project within a programme raise structural complexity to a level higher than that of single projects (Blismas et al 2004) A single project has a linear life cycle and fixed duration in which performance of the project is measured; while in multi-project duration depends on the delivery of the entire project in the programme Single project involves one main contractor with few sub contractors while multi-project involves large number of contractor, sub contractors and supply chain. Other features of a single project includes managing risk and uncertainties in line with the project scope and objectives, abbreviated planning process and Single client management In addition, scheduling and resources allocated is more complex than that of a single project the need and priority of a particular project is considered, detailed communication, organization and strategic management, multi-stakeholders management, development of software for project planning/scheduling and system control. 3.3. GUIDELINES FOR 2012 OLYMPIC STADIUM The purpose of these guidelines is to help in organizing, planning and control 2012 Olympic Stadium to achieve the project objectives. The guideline covers the life cycle of the project from initiation, planning, execution, monitoring and controlling and closure of the project. 3.3.1 Initiation This is the beginning of the planning phase, the need is identified, resources, preliminary drawing and block diagram is produce, analysis including budget estimation, project charter including cost, task, and deliverable schedule, scope is defined and impact assessment initiated, conceptual design created followed by detailed design and planning 3.3.2 Project planning This include developing management Plan, scope planning and definition, creating a Work Breakdown Structure (WBS), activity definition and sequencing, Resource estimating and allocation, Estimating budget and cost control, activity duration estimating, schedule development, human resource and communication planning, risk management planning, contracting, purchases plan (PMBOK, 2004) Management Plan: is necessary for the development of preliminary project scope statement, project management processes, environmental factors and organizational process assets. (PMBOK, 2004) Scope planning and definition is essential for creating project scope management plan that documents how the project scope will be defined, verified and controlled and also the creation and definition of WBS. Secondly development of detailed scope statement as basis for future project decisions. (PMBOK, 2004) Work Breakdown Structure (WBS): Developing WBS with a corresponding project organizations and functional responsibility chart (Wideman,1990) Establishing the programme work breakdown structure and breaking it into work package for contract purposes. (Wideman,1990) Activity definition and sequencing is crucial in identifying specific activities that needs to be performed to achieve project deliverable and also identifying and documenting dependencies among schedule activities. It contains the activity list and attributes, milestone list, requested change and approved change requests project schedule network diagram. (PMBOK, 2004) Resource estimating and allocation is important in estimating the type and quantities of resources required by each work package Estimating budget and cost control: Each work package is treated essentially as a separate and autonomous effort requiring resources and input from variety of source (Clough et al, 2000).At the earliest possible time, an acceptable program budget breakdown must be established, which properly reflects the best estimate of the work required to achieve the overall project objectives. This will form the basis for regular cost monitoring and reporting (Wideman, 1990) Contracting, purchases plan: Laws and regulations will require public bidding procedure in the government owned project. Advertisements of the project are required to ensure that all contractors who might have interest are offered equal opportunity to bid. A number of work packages may be assembled into a contract package for procurement purposes(Wideman,1990) Type of contract strategy and procurement route to be use and allocation of risk of project is identified Human resource and communication planning: this is necessary in identifying and documenting roles and responsibilities and reporting relationships, secondly. Information and communication needs of the projects stakeholders are determined. (PMBOK, 2004) Risk management: The purpose of risk management process is to make effective project management decisions about what happens on the project in future. This consist of risk source identification, risk impact assessment and analysis and managerial response to risk in the context of the project (Smith, Merna, Jobling, 2006) 3.3.3 Execution stage This involves coordinating people and resources, integrating and performing other project activities. Some of the activities of this stage include Directing and managing project execution, performing quality assurance, acquiring and developing project team, information distribution. Selection of consultant, supply chain contractors and sub contractors. (PMBOK, 2004) Directing and managing project execution. This process is necessary for directing the various technical and organizational interfaces that exist in the project to execute the work defined in the project management plan. Some of the activities here consist of approving corrective and preventive actions, approving change request and defect repair, validating defect repair, administrative closure procedure. (PMBOK, 2004) Acquiring and developing project team: this is essential for obtaining human resources needed to deliver the project and also for improving the competencies and interaction of team members to enhance project performance. (PMBOK, 2004) Information distribution: design and foster intensive, open and timely communication within the project stakeholders. Employ multiple channels and mediums, in particular modern information technology and extensive face-to face interactions. Prepare systems that prescribe for most processes simple and brief procedures for flexibility of details. Restrict optimization to the essential. Selection of consultant, supply chain contractors and sub contractors. This process is essential for reviewing bids and proposal, selecting from among the potential contractors and negotiating a written contract, it also entail risk allocation between the client and the contractor. (PMBOK, 2004) 3.3.4 Monitoring and controlling This process is crucial for collecting, measuring and dissemination performance information, and assessing measurements and trends to effect process improvement Integration and ongoing progress is monitored against agreed milestones, results reported in accordance with mechanisms identified in the communication plan.Secondly monitoring changes and recommending preventive action in anticipation of possible problem is an important element of monitoring and controlling (PMBOK, 2004) 3.3.5 Health and safety and environment Maintenance of health and safety on the site is vital for a successful project delivery. Mandatory personal protective equipment for all the workers on site is necessary Also all the site machine and equipment should be working properly. Workers should be properly trained to use the equipments. 3.3.6 Project closure: this involves closing of project and contract closure. It is necessary for finalizing all activities, completing and settling each contract, including the resolution of any open items and closing each contract applicable to the project. (PMBOK, 2004 3.4 Outline of Project Management Challenges 2012 Olympic Stadium Some of the project management challenges: Design constraints: This involves getting an aesthetics design which depicts legacy of modern day and world class Olympics, as well as being iconic, environmentally friendly and sustainable in terms of future use and maintenance. Time constraints; Meeting deadline for the project for the Olympics events is very crucial and one is of the major indicator of measuring success or failure of the project. Site constraints The soil/site ground is poor from engineering and environmental viewpoint. Owing to past use of the site which resulted in uneven settlement that can only support very light construction. Site is located between two branches of River Lea an old embankment containing sewage artery. The above constraints call for redesigning to suit the site location and environment. Complexity of the project The multi-project nature of the project involves managing large numbers of subcontractors and supply chain. The construction of the stadium is just one component in the Olympic park, Resource allocation and scheduling Efficient allocation of resources in multi-project environment is a major challenge facing the programme manager, as this can lead to success or failure of the projects. Global recession and price inflation The world economic crisis of 2009 is a major challenge for the project, as this will cause price inflation for goods and services required for the project. The initial project estimate will no longer be feasible. Stakeholders management The project has different level of stakeholder. They include the financier, the host community, the supporters, the critics, the press and the general public. Project Co-ordination and document control.. The complexity of the project comprises large number of document which might have minor and major changes from the initial design that need to be communicated to people involve with the project. Logistics Challenges Transportation of huge numbers of workers and materials to the site using the existing means of transportation, amid the busy city of London. Health and Safety Maintaining safety in the site is a major challenge in construction site with large number of workers and ensuring that all contractors adhere to the health and safety rule in the site. 3.5 Conclusion ` The facts remains that projects are distinctive and unique in their own way. Project life-cycle as well as their requirements is different from each other. What worked for one organization in a particular project might not work for another; it all depends on the organizational culture and values, project environment, interpersonal skill, etc. The general guideline as contained in the Project Management Body of knowledge is only to serve as a guide that needs to be tailored down to suit a particular project. Also it can be seen that project management is more of a practical discipline than theoretical, this can be deduce from the uniqueness of every projects, because change is inherent in any project. There must be a change from the laid down planned and schedule strategy, change therefore cannot be eliminated, most especially in construction because of the project uncertainty, it is expected that plan must change. The ability of the project manager to apply the principles of risk management and improve effective change management will determine result of the project.

Effective Delegation Essay -- Business Delegate Definition Essays

Effective Delegation Introduction   Ã‚  Ã‚  Ã‚  Ã‚  This paper will attempt to show what skills are necessary for effective delegation, and how the managers of the author's organization uses delegation in his or her management responsibilities. The paper will also attempt to show how delegation could be used more effectively within the four functions of management in that same organization. Through delegation managers combine task responsibilities and the authority needed to carry out tasks in the organization. The author will also discuss some advantages of delegation as well as the issue of poor delegation. Delegation   Ã‚  Ã‚  Ã‚  Ã‚  What is delegation? According to Bateman, delegation â€Å"is the assignment of authority and responsibility to a subordinate at a lower level.† (Bateman et al, 2004). By delegating to others this frees up the manager to devote more energy to higher-level activities. These activities can be controlling and leading. â€Å"Delegation is perhaps the most fundamental feature of management, because it entails getting work done through others.† (Bateman et al, 2004). Delegation In A County Jail   Ã‚  Ã‚  Ã‚  Ã‚  In a county jail setting there are several types of managers. These are the jail administrator, the assistant administrator, the county commissioners, the sheriff and his deputies as well as the officers from the local police departments. The management in a county jail setting uses delegation in several ways. One such way occurs when an officer or deputy brings in an inmate for a crime he or she have committed. The officer then delegates the responsibility of getting that inmate to court to the jailer, depending on the seriousness of the crime. Another way is for management to give the jailers authority to discipline an inmate for wrong doing. The author also delegated by having her sub-ordinates pass out canteen, commissary, and razors. Canteen and commissary are personal hygiene and snack items that the inmates purchased. The author was delegated to by her manager in the sense she was put in charge of planning monthly meetings and training sessions. Delegation And The Functions of Management   Ã‚  Ã‚  Ã‚  Ã‚  In the author's organization there is not much planning or organizing that takes place. The only planning that is done is for the monthly meetings and for all training sessions. Training has to be scheduled at different times in order for all employees to... ...n get the job done properly. The third sign of poor delegation is the team is confused, conflicting, or tense. This occurs when the task is not clearly defined. The fourth and final sign is the manager gets questions about delegated tasks too often. This is another clear indication that the task at hand was not explained clearly. (Blair, 1996) Conclusion   Ã‚  Ã‚  Ã‚  Ã‚  In conclusion, â€Å"delegation underpins a style of management which allows your staff to use and develop their skills and knowledge to the full potential.† (Blair, 1996). The main objective of delegation is to get the job done by someone else. However, if the job does not get done properly then the manager is held accountable. In a county jail setting, delegation needs to be strictly monitored to ensure the proper running of the facility as well as the safety of the jailers and inmates. If a person wants to be a good leader, that person needs to be able to delegate effectively. References Bateman, T., & Snell, S. (2004). Management: the new competitive landscape. 6th ed. New York: McGraw-Hill/Irwin. Blair, G. (1996). Retrieved Apr. 12, 2005, from www.see.ed.ac.uk/~gerard/MENG/ME96/Documents/Aspects/ delegate.htm

Dietary Guidelines For North Americans And Suggestions For Food Choice :: essays research papers fc

Dietary Guidelines for North Americans and Suggestions for Food Choices In today's society nearly everyone follows some kind of dietary guidelines. Whether it is in the goal of losing weight, gaining weight or just simply to maintain it, people are jumping onto the dietary band-wagon. A diet is basically to take food according to rule, a mode of living in reference to nourishment. There are various types of diets that one can follow; a high or low calorie diet, low fat diets, diets modified in protein, minerals, water, and carbohydrates, and so the list goes on. Many business enterprises base their entire corporations into the field of weight loss. Many of these diet programs are merely fads that lure desperate people in with their guarantees to lose so many pounds or inches in an " x " amount of time. There are also many pills that one can take, but they are not always safe and can be very damaging in the long run. It is not all people that are on weight loss programs though. Many athletes are on strict programs to gain weight. However this kind of desired weight is not measured in fat but in muscle mass. Many muscle and fitness magazines will feature advertisements and articles for such gains in body mass. Advertisements for diets can sometimes be very dangerous though. Pretty well all the people used in these particular ads are slim and beautiful and it can therefor be very misinterpreting to someone who is overweight. The pressure of being fit can lead to very damaging disorders such as anorexia and bulimia. These two very serious conditions affect a very large amount of women and men in North America these days and can be quite lethal if not cured. So it is important to be careful not to do any physical or psychological harm to one self when trying to lose weight. When embarking into any kind of diet it is extremely important that one gets the sufficient amount of nutrients from their food and/or supplements. A proper diet must consist of more than simply a glass of water and a piece of fruit per meal. One must have a certain daily intake of specific vitamins and minerals to stay in good health. If one were to follow the RDA's (recommended daily allowance) guidelines, one has to be sure that the food that is consumed contains the proper amount of nutrients that is so suggested. A lot of the foods that we consume today do not contain the amount of vitamins and minerals that the U.

Truth and Order in Ionescos Bald Soprano Essay -- Bald Soprano Essays

Truth and Order in Ionesco's Bald Soprano      Ã‚  Ã‚   Any sense of order, of sense itself, is shattered and constantly questioned by Eugene Ionesco in his play "The Bald Soprano". A serious challenge is made against an absolute notion of truth. Characters throughout the play, however, continue to struggle to maintain and share a unified and orderly existence. Empiricism is espoused by several characters. They submit that life experience is all that is necessary to establish unshakable order and thus, truth. Mrs. Smith states, "Truth is never found in books, only in life" (29). While this empirical debate underscores the need for an unmediated knowledge of truth, Ionesco simultaneously undermines empiricism as a viable method of attaining it. On a basic level, order diminishes, deteriorates, and virtually disintegrates as the play proceeds.      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Empiricism is essentially deductive in nature; a logical premise is established from direct sensory experience. This method calls into question even the most commonplace assumptions. Nothing is accepted as given without sufficient proof. In this manner ordinary events like tying one's shoe or reading the newspaper in the subway are made to seem extraordinary. Each otherwise mundane experience contains a new vitality. Mr. Martin exclaims, "One sees things even more extraordinary every day, when one walks around" (22). The characters seem to lack a certain sense of familiarity (or boredom, perhaps) with such mundane events. Each experience, regardless of size or scope, force the characters to constantly remain in the process of reevaluating and refining the most basic assumptions upon which their lives are based. Mrs. Smith's incessant externalized inner monologue at the open... ...le isolated statements cease to be intelligible. Ionesco's language late in the play is a language of non sequitirs and nonsense. Far from articulating a unified notion of truth, language unleashes the capacity to express a cacophony of voices and viewpoints. Unequivocal statements of any sort become virtually impossible because the power to negate them is embedded in the fabric of language itself. Ironically, as the play reaches its seemingly chaotic crescendo, Ionesco himself seems to submit to some vaguely cyclical notion of order. The dialogue of the players disintegrates and then reintegrates into a single sentence, thus allowing the play to begin again with new faces, but undoubtedly the same dramatic dà ©nouement.    Works Cited Ionesco, Eugene. "The Bald Soprano." Four Plays by Eugene Ionesco. Trans. Donald M. Allen. New York: Grove Weidenfeld, 1958.

The Mist Countries

THE THE MIST COUNTRIES – Mexico, Indonesia, South Korea & Turkey: Are MIST countries becoming the new BRICs? : For many investors, Mexico, Indonesia, South Korea and Turkey have taken over from the BRICS becoming the four biggest emerging markets, and growing faster than their major rivals. BRIC inventor Jim O’Neil from Goldman Sachs proposed the new term MIST term for Mexico, Indonesia, South Korea and Turkey, which are the four biggest markets in the Goldman Sachs N-11 Equity Fund. The MIST economies more than doubled during the last decade, according to Bloomberg, and continue surging despite global economy concerns.Mexico’s IPC Index has climbed 11% this year, comparing with a 2. 8% growth of Brazil’s Bovespa. Meanwhile Turkey’s ISE National 100 gained 28 percent, compared to 13% gain of BSE India Sensitive Index and 2. 6% gain in Russia’s MICEX. Though the MIST nations outperformed the BRIC in pace of growth, its economic output still ca n’t approach the BRIC. Total GDP for the MIST nations was $3. 9 trillion last year, compared to $13. 5 trillion of BRIC economies and $7. 3 trillion for China alone. Comment: If you go to the Wikipedia page about BRIC you will read that Mexico and South Korea tried to become part of BRIC.It was used the name BRIMC†¦. But it failed because the BRIC were Core-Hubs in their areas (Eurasia, South America, Far East, South East Asia) while the MIST are a second dependent layer around the Hub. In fact, and to be precise there are three World Hubs-Cores: USA, GERMANY (Eurozone) and CHINA. Turkey depends on Europe, Mexico depends on the US, South Korea depends on China†¦. So, if those hubs are hit, the MIST will be hit MUCH MORE, as we remember from the Bhat crisis. Russia could be an Eurasian and Energy Hub-Core†¦. even if still not fully developed, so it is still a layer of the E. U. Hub. Mexico Economy – overview:Mexico has a free market economy in the trillio n dollar class. It contains a mixture of modern and outmoded industry and agriculture, increasingly dominated by the private sector. Recent administrations have expanded competition in seaports, railroads, telecommunications, electricity generation, natural gas distribution, and airports. Per capita income is roughly one-third that of the US; income distribution remains highly unequal. Since the implementation of the North American Free Trade Agreement (NAFTA) in 1994, Mexico's share of US imports has increased from 7% to 12%, and its share of Canadian imports has doubled to 5%.Mexico has free trade agreements with over 50 countries including Guatemala, Honduras, El Salvador, the European Free Trade Area, and Japan – putting more than 90% of trade under free trade agreements. In 2007, during its first year in office, the Felipe CALDERON administration was able to garner support from the opposition to successfully pass pension and fiscal reforms. The administration passed an e nergy reform measure in 2008 and another fiscal reform in 2009. Mexico†s GDP plunged 6. 2% in 2009 as world demand for exports dropped, asset prices tumbled, and remittances and investment declined. GDP posted positive growth of 5. % in 2010 and 3. 8% in 2011, with exports – particularly to the United States – leading the way. The administration continues to face many economic challenges, including improving the public education system, upgrading infrastructure, modernizing labor laws, and fostering private investment in the energy sector. CALDERON has stated that his top economic priorities remain reducing poverty and creating jobs. GDP (purchasing power parity) $1. 657 trillion (2011 est. ) $1. 596 trillion (2010 est. ) $1. 514 trillion (2009 est. ) note:  data are in 2011 US dollars GDP (official exchange rate) $1. 185 trillion (2011 est. ) GDP – real growth rate . 8% (2011 est. ) 5. 4% (2010 est. ) -6. 2% (2009 est. ) GDP – per capita (PPP) $1 5,100 (2011 est. ) $14,400 (2010) $13,600 (2009) note:  data are in 2011 US dollars GDP – composition by sector agriculture:  3. 8% industry:  34. 2% services:  62% (2011 est. ) Population below poverty line 18. 2% note:  based on food-based definition of poverty; asset based poverty amounted to more than 47% (2008) Labor force 49. 17 million (2011 est. ) Labor force – by occupation agriculture:  13. 7% industry:  23. 4% services:  62. 9% (2005) Unemployment rate 5. 2% (2011 est. ) 5. 4% (2010 est. ) note:  underemployment may be as high as 25%Unemployment, youth ages 15-24 total:  10% male:  9. 7% female:  10. 6% (2009) Household income or consumption by percentage share lowest 10%:  1. 5% highest 10%:  41. 4% (2008) Distribution of family income – Gini index 51. 7 (2008) 53. 1 (1998) Public debt 37. 5% of GDP (2011 est. ) 36. 9% of GDP (2010 est. ) Inflation rate (consumer prices) 3. 5% (2011 est. ) 4. 2% (2010 est. ) Central bank d iscount rate NA% (31 December 2010 est. ) 4. 5% (31 December 2009 est. ) Commercial bank prime lending rate 5% (31 December 2011 est. ) 5. 287% (31 December 2010 est. ) Stock of domestic credit $407. 4 billion (31 December 2011 est. $374. 2 billion (31 December 2010 est. ) Market value of publicly traded shares $454. 3 billion (31 December 2010) $340. 6 billion (31 December 2009) $232. 6 billion (31 December 2008) Agriculture – products corn, wheat, soybeans, rice, beans, cotton, coffee, fruit, tomatoes; beef, poultry, dairy products; wood products Industries food and beverages, tobacco, chemicals, iron and steel, petroleum, mining, textiles, clothing, motor vehicles, consumer durables, tourism Industrial production growth rate 3. 9% (2011 est. ) Current Account Balance -$11. 27 billion (2011 est. ) -$5. 724 billion (2010 est. ) Exports $336. billion (2011 est. ) $298. 5 billion (2010 est. ) Exports – commodities manufactured goods, oil and oil products, silver, fruits , vegetables, coffee, cotton Exports – partners US 73. 5%, Canada 7. 5% (2009 est. ) Imports $341. 9 billion (2011 est. ) $301. 5 billion (2010 est. ) Imports – commodities metalworking machines, steel mill products, agricultural machinery, electrical equipment, car parts for assembly, repair parts for motor vehicles, aircraft, and aircraft parts Imports – partners US 60. 6%, China 6. 6%, South Korea 5. 2% (2009 est. ) Reserves of foreign exchange and gold $142 billion (31 December 2011 est. ) 114 billion (31 December 2010 est. ) Debt – external $204 billion (31 December 2011 est. ) $195. 6 billion (31 December 2010 est. ) Stock of direct foreign investment – at home $321. 5 billion (31 December 2011 est. ) $326. 1 billion (31 December 2010 est. ) Stock of direct foreign investment – abroad $84. 92 billion (31 December 2011 est. ) $78. 38 billion (31 December 2010 est. ) Exchange rates Mexican pesos (MXN) per US dollar – 12. 39 (2011 est. ) 12. 636 (2010 est. ) 13. 514 (2009) 11. 016 (2008) 10. 8 (2007) Fiscal year calendar year Indonesia Economy – overview: Indonesia, a vast polyglot nation, grew an estimated 6. % and 6. 4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a small current ccount surplus, a fiscal deficit below 2%, and historically low rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011. Indonesia still struggles with pov erty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2012 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of rising oil prices.GDP (purchasing power parity) $1. 121 trillion (2011 est. ) $1. 054 trillion (2010 est. ) $993 billion (2009 est. ) note:  data are in 2011 US dollars GDP (official exchange rate) $834. 3 billion (2011 est. ) GDP – real growth rate 6. 4% (2011 est. ) 6. 1% (2010 est. ) 4. 6% (2009 est. ) GDP – per capita (PPP) $4,700 (2011 est. ) $4,400 (2010 est. ) $4,300 (2009 est. ) note:  data are in 2011 US dollars GDP – composition by sector agriculture:  14. 7% industry:  47. 2% services:  38. 1% (2011 est. ) Population below poverty line 13. 33% (2010) Labor force 117. 4 million (2 011 est. )Labor force – by occupation agriculture:  38. 3% industry:  12. 8% services:  48. 9% (2010 est. ) Unemployment rate 6. 6% (2011 est. ) 7. 9% (2010 est. ) Unemployment, youth ages 15-24 total:  22. 2% male:  21. 6% female:  23% (2009) Household income or consumption by percentage share lowest 10%:  3. 3% highest 10%:  29. 9% (2009) Distribution of family income – Gini index 36. 8 (2009) 39. 4 (2005) Public debt 24. 5% of GDP (2011 est. ) 25. 7% of GDP (2010 est. ) Inflation rate (consumer prices) 5. 7% (2011 est. ) 5. 1% (2010 est. ) Central bank discount rate 6. 37% (31 December 2010) 6. 46% (31 December 2009) ote:  this figure represents the 3-month SBI rate; the Bank of Indonesia has not employed the one-month SBI since September 2010 Commercial bank prime lending rate 12. 2% (31 December 2011 est. ) 13. 252% (31 December 2010 est. ) note:  these figures represent the average annualized rate on working capital loans Stock of domestic cre dit $305. 2 billion (31 December 2011 est. ) $254. 1 billion (31 December 2010 est. ) Market value of publicly traded shares $360. 4 billion (31 December 2010) $178. 2 billion (31 December 2009) $98. 76 billion (31 December 2008) Agriculture – products ice, cassava (manioc), peanuts, rubber, cocoa, coffee, palm oil, copra; poultry, beef, pork, eggs Industries petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism Industrial production growth rate 4. 1% (2011 est. ) Current Account Balance $5. 704 billion (2011 est. ) $5. 654 billion (2010 est. ) Exports $208. 9 billion (2011 est. ) $158. 1 billion (2010 est. ) Exports – commodities oil and gas, electrical appliances, plywood, textiles, rubber Exports – partners Japan 16. 3%, China 10%, US 9. 1%, Singapore 8. 7%, South Korea 8%, India 6. %, Malaysia 5. 9% (2009) Imports $172. 1 billion (2011 est. ) $127. 4 billion (2010 est. ) Imports – commodities machinery and equipment, chemicals, fuels, foodstuffs Imports – partners China 15. 1%, Singapore 14. 9%, Japan 12. 5%, US 6. 9%, Malaysia 6. 4%, South Korea 5. 7%, Thailand 5. 5% (2009) Reserves of foreign exchange and gold $136. 2 billion (31 December 2011 est. ) $96. 21 billion (31 December 2010 est. ) Debt – external $158. 8 billion (31 December 2011 est. ) $196. 1 billion (31 December 2010 est. ) Stock of direct foreign investment – at home $105. 7 billion (31 December 2011 est. ) $86. 5 billion (31 December 2010 est. ) Stock of direct foreign investment – abroad $41. 89 billion (31 December 2011 est. ) $32. 85 billion (31 December 2010 est. ) Exchange rates Indonesian rupiah (IDR) per US dollar – 8,696. 1 (2011 est. ) 9,090. 43 (2010 est. ) 10,389. 9 (2009) 9,698. 9 (2008) 9,143 (2007) Fiscal year calendar year South Korea Economy – overview South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia.In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea†s development model including high debt/equity ratios and massive short-term foreign borrowing.GDP plunged by 6. 9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annual ly between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0. 3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3. 6% in 2011. In 2011, theUS-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy†s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports – which comprise half of GDP. GDP (purchasing power parity) $1. 549 trillion (2011 est. ) $1. 495 trillion (2010 est. ) $1. 409 trillion (2009 est. ) note:  data are in 2011 US dollars GDP (official exchange rate) $1. 164 trillion (2011 est. ) GDP – real growth rate 3. 6% (2011 est. ) 6. 2% (2010 est. ) 0. 3% (2009 est. ) GDP – per capita (PPP) 31,700 (2011 est. ) $30,600 (2010 est. ) $28,90 0 (2009 est. ) note:  data are in 2011 US dollars GDP – composition by sector agriculture:  2. 6% industry:  39. 2% services:  58. 2% (2008 est. ) Population below poverty line 15% (2006 est. ) Labor force 25. 1 million (2011 est. ) Labor force – by occupation agriculture:  6. 4% industry:  24. 2% services:  69. 4% (2011 est. ) Unemployment rate 3. 4% (2011 est. ) 3. 7% (2010 est. ) Unemployment, youth ages 15-24 total:  9. 8% male:  11. 9% female:  8. 5% (2009) Household income or consumption by percentage share lowest 10%:  2. 7% highest 10%:  24. 2% (2007)Distribution of family income – Gini index 31 (2010) 35. 8 (2000) Public debt 33. 3% of GDP (2011 est. ) 35. 1% of GDP (2010 est. ) Inflation rate (consumer prices) 4% (2011 est. ) 3% (2010 est. ) Central bank discount rate 1. 5% (31 December 2011) 1. 25% (31 December 2009) Commercial bank prime lending rate 5. 9% (31 December 2011 est. ) 5. 508% (31 December 2010 est. ) Stock of dome stic credit $1. 356 trillion (31 December 2011 est. ) $1. 275 trillion (31 December 2010 est. ) Market value of publicly traded shares $996. 7 billion (31 December 2011) $1. 093 trillion (31 December 2010) $836. billion (31 December 2009) Agriculture – products rice, root crops, barley, vegetables, fruit; cattle, pigs, chickens, milk, eggs; fish Industries electronics, telecommunications, automobile production, chemicals, shipbuilding, steel Industrial production growth rate 3. 8% (2011 est. ) Current Account Balance $29. 79 billion (2011 est. ) $28. 21 billion (2010 est. ) Exports $556. 5 billion (2011 est. ) $466. 4 billion (2010 est. ) Exports – commodities semiconductors, wireless telecommunications equipment, motor vehicles, computers, steel, ships, petrochemicals Exports – partners China 24. %, US 10. 1%, Japan 7. 1% (2009 est. ) Imports $524. 4 billion (2011 est. ) $425. 2 billion (2010 est. ) Imports – commodities machinery, electronics and electr onic equipment, oil, steel, transport equipment, organic chemicals, plastics Imports – partners China 16. 5%, Japan 13%, US 8. 5%, Saudi Arabia 7. 1%, Australia 5% (2009 est. ) Reserves of foreign exchange and gold $306. 4 billion (31 December 2011 est. ) $291. 6 billion (31 December 2010 est. ) Debt – external $397. 3 billion (31 December 2011 est. ) $359. 4 billion (31 December 2010 est. ) Stock of direct foreign investment – at home 130. 3 billion (31 December 2011 est. ) $127 billion (31 December 2010 est. ) Stock of direct foreign investment – abroad $190. 4 billion (31 December 2011) $164. 8 billion (31 December 2009) Exchange rate South Korean won (KRW) per US dollar – 1,107. 3 (2011 est. ) 1,156. 06 (2010 est. ) 1,276. 93 (2009) 1,101. 7 (2008) 929. 2 (2007) Fiscal year calendar year Turkey Economy – overview Turkey's largely free-market economy is increasingly driven by its industry and service sectors, although its traditional agri culture sector still accounts for about 25% of employment.An aggressive privatization program has reduced state involvement in basic industry, banking, transport, and communication, and an emerging cadre of middle-class entrepreneurs is adding dynamism to the economy and expanding production beyond the traditional textiles and clothing sectors. The automotive, construction, and electronics industries, are rising in importance and have surpassed textiles within Turkey's export mix. Oil began to flow through the Baku-Tbilisi-Ceyhan pipeline in May 2006, marking a major milestone that will bring up to 1 million barrels per day from the Caspian to market.Several gas pipelines projects also are moving forward to help transport Central Asian gas to Europe through Turkey, which over the long term will help address Turkey's dependence on imported oil and gas to meet 97% of its energy needs. After Turkey experienced a severe financial crisis in 2001, Ankara adopted financial and fiscal refor ms as part of an IMF program. The reforms strengthened the country's economic fundamentals and ushered in an era of strong growth – averaging more than 6% annually until 2008.Global economic conditions and tighter fiscal policy caused GDP to contract in 2009, but Turkey's well-regulated financial markets and banking system helped the country weather the global financial crisis and GDP rebounded strongly to 8. 2% in 2010, as exports returned to normal levels following the recession. Turkey's public sector debt to GDP ratio has fallen to roughly 40%. Continued strong growth has pushed inflation to the 8% level, however, and worsened an already high current account deficit. Turkey remains dependent on often volatile, short-term investment to finance its large trade deficit.The stock value of FDI stood at $99 billion at year-end 2011. Inflows have slowed considerably in light of continuing economic turmoil in Europe, the source of much of Turkey's FDI. Further economic and judici al reforms and prospective EU membership are expected to boost Turkey's attractiveness to foreign investors. However, Turkey's relatively high current account deficit, uncertainty related to monetary policy-making, and political turmoil within Turkey's neighborhood leave the economy vulnerable to destabilizing shifts in investor confidence.GDP (purchasing power parity) $1. 026 trillion (2011 est. ) $981. 2 billion (2010 est. ) $906. 9 billion (2009 est. ) note:  data are in 2011 US dollars GDP (official exchange rate) $763. 1 billion (2011 est. ) GDP – real growth rate 4. 6% (2011 est. ) 8. 2% (2010 est. ) -4. 7% (2009 est. ) GDP – per capita (PPP) $14,600 (2011 est. ) $13,800 (2010 est. ) $12,900 (2009 est. ) note:  data are in 2011 US dollars GDP – composition by sector agriculture:  9. 3% industry:  28. 1% services:  62. 6% (2011 est. ) Population below poverty line 16. 9% (2010) Labor force 27. 3 million note:  about 1. 2 million Turks work abroa d (2011 est. ) Labor force – by occupation agriculture:  25. 5% industry:  26. 2% services:  48. 4% (2010) Unemployment rate 9. 8% (2011 est. ) 12% (2010 est. ) note:  underemployment amounted to 4% in 2008 Unemployment, youth ages 15-24 total:  25. 3% male:  25. 4% female:  25. 1% (2009) Household income or consumption by percentage share lowest 10%:  2. 1% highest 10%:  30. 3% (2008) Distribution of family income – Gini index 40. 2 (2010) 43. 6 (2003) Public debt 42. 4% of GDP (2011 est. ) 43% of GDP (2010 est. ) ote:  data cover central government debt, and excludes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data exclude debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment. Debt inst ruments for the social funds are sold at public auctions. Inflation rate (consumer prices) 7. 8% (2011 est. ) 8. 6% (2010 est. ) Central bank discount rate 5. 25% (31 December 2011) 15% (22 December 2009)Commercial bank prime lending rate 16% (31 December 2011 est. ) 19% (31 December 2010 est. ) Stock of domestic credit $573. 8 billion (31 December 2011 est. ) $496 billion (31 December 2010 est. ) Market value of publicly traded shares $306. 7 billion (31 December 2010) $225. 7 billion (31 December 2009) $117. 9 billion (31 December 2008) Agriculture – products tobacco, cotton, grain, olives, sugar beets, hazelnuts, pulses, citrus; livestock Industries textiles, food processing, autos, electronics, mining (coal, chromate, copper, boron), steel, petroleum, construction, lumber, paper Industrial production growth rate 9. 2% (2011 est. Current Account Balance -$71. 94 billion (2011 est. ) -$47. 74 billion (2010 est. ) Exports $133 billion (2011 est. ) $120. 9 billion (2010 est. ) Exports – commodities apparel, foodstuffs, textiles, metal manufactures, transport equipment Exports – partners Germany 10. 1%, UK 6. 4%, Italy 5. 7%, France 5. 3%, Iraq 5. 3%, Russia 4. 1% (2009 est. ) Imports $212. 2 billion (2011 est. ) $177. 3 billion (2010 est. ) Imports – commodities machinery, chemicals, semi-finished goods, fuels, transport equipment Imports – partners Russia 11. 6%, Germany 9. 5%, China 9. 3%, US 6. 6%, Italy 5. 5%, France 4. 4%, Iran 4. 1% (2009 est. )Reserves of foreign exchange and gold $96. 05 billion (31 December 2011 est. ) $86. 08 billion (31 December 2010 est. ) Debt – external $313. 6 billion (31 December 2011 est. ) $290. 7 billion (31 December 2010 est. ) Stock of direct foreign investment – at home $98. 98 billion (31 December 2011 est. ) $86. 98 billion (31 December 2010 est. ) Stock of direct foreign investment – abroad $18. 63 billion (31 December 2011 est. ) $16. 88 billion (31 December 2010 est. ) Exchange rates Turkish liras (TRY) per US dollar – 1. 668 (2011 est. ) 1. 5028 (2010 est. ) 1. 55 (2009) 1. 3179 (2008) 1. 319 (2007) Fiscal year calendar year