Rich Dad Poor Dad (Book Review) - 1485 Words

Rich Dad Poor Dad by Robert T Kiyosaki * The book Rich dad poor dad is the 1# New York Times the Wall Street Journal seller. * The tag line of the book â€Å"what the rich teach their kids about money- that the poor and middle class do not!† says it all, what the entire book is about. * The book Rich Dad poor Dad tells us about the difference between what a rich dad teaches to his child compared to what a poor dad teaches. * It tells about a story in which the narrator has two fathers one was the original father who is referred as the poor dad and the other is his friend mike’s father who is referred to as the rich†¦show more content†¦* It is by this knowledge that the rich are able to generate their assets. * The author goes on to say that an individual earns money pays taxes and lives life with the money that is left whereas the corporation earns money spends the earned money n pay taxes on the money that is left. * Thus it can be concluded that this short chapter talks about the advantages o f forming a corporation Chapter 6: The Rich Invent Money: * In this chapter the author goes into the details of all his experiences over the years to show that how easily any person can invent money once you are financially literate. * The author feels that every person has some or the other talent with which he is born the problem is that he does not use this talent because of self-doubt and fear. * The author says that some people have the money and the ability,but they don’t take risk due to the fear of rejection. * The author’s idea is that people should create luck; they should not wait for it. He relates the same thing to money according to him money should also be created. * He also describes the importance of education in this chapter and he thinks that a trained mind is a rich mind. * According to the writer an intelligent individual builds his own knowledge base and therefore has more power over those who don’t. Chapter 7: Work to Learn, Don’t work for money: * In thisShow MoreRelatedBook Review Of Rich Dad Poor Dad1316 Words   |  6 PagesRich Dad Poor Dad Book Review The book is the account of a man (the storyteller and writer) who has two fathers: the first was his organic father – the poor father - and the other was the father of his youth closest companion, Mike – the rich father. The two fathers instructed the creator how to make progress however with extremely divergent methodologies. It ended up noticeably obvious to the creator which fathers approach appeared well and good. 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Project Management Methodologies to Adjourn Project Status

Question: Discuss the applicability of these solutions to IT projects, Discuss how the role of the project manager would change and Discuss the pros and cons to each of these strategies. Answer: Introduction Modification and updating of the status of the project are considered to be a time-consuming and complicated task. The project managers follow different procedures and methodologies for submitting the progress of the project. The three common methodologies used are sequential methodologies, agile methodologies and change management methodologies. Project Management Methodologies to Adjourn Project Status Description of the Solutions Sequential Methodologies: Killen, et al., (2012) defined the sequential methodologies as one of the traditional and most commonly used methodologies for managing and developing a project. Sequential methodologies are commonly distinguished by the preplanned tasks and outline of the delivered project. A particular task in the project is dependent on the previous task occurred in the project. Waterfall models, Critical Path Method, Critical Chain Project Management, are the examples of the sequential methodologies (Bloch, Blumberg, Laartz, 2012). Agile Methodologies: Turk, France, and Rumpe, (2014) cited the Agile Methodologies are characterized by the interactive work and including the customers feedback during the development phase. The agile methodologies allow the project team to collaborate and respond to any changes during the project (McHugh, Conboy, Lang, 2012). Extreme Programming, Kanban, Adaptive Project Framework and Scrum are one of the commonly used agile procedures. Change Management Methodologies: Meng, (2012) stated that Change management procedures that are used for approaching changes within the team, organization or individuals. These methodologies help in effectively allocate operations, budgets, resources, and business processes. Muller, and Jugdev, (2012) showed Extreme Project Management and Event Chain Methodology as the example of change management procedures. Applicability of these solutions to IT project In terms of managing and developing the managing an IT project, Agile, and Sequential Methodologies are utilized effectively. Killen, et al., (2012) showed that the application of the following procedures allows the project manager in an identification of the goals, requirements, and procedures at the beginning of the project. The Sequential Model in the IT project helps in adapting the teams workflow and processes to be done in a sequential manner. Bloch, Blumberg, and Laartz, (2012) cited that the applicability of the Agile Methodology allows the project manager to incorporate regular feedback from the client during the implementation process. Developing an IT project requires the efficient allocation and management of the technological as well as the human resources in the project. Turk, France, and Rumpe, (2014) demonstrated that the effective allocation of the skilled individuals in an enterprise-wide IT project significantly impacts the work satisfaction, productivity, and effe ctiveness of the management. This can be achieved by the utilization of the Change Management Methodologies. Role of the project manager The application of different project methodologies results in the change in the roles and duties of the project manager. Sequential Methodologies: In the sequential methodologies, the role of the project manager is limited to the management of the human resources and completing the project within given time. Agile Methodologies: The utilization of the agile methodologies helps in motivating the project managers. Furthermore, the agile process helps the project managers to identify the risks and mitigate the problems during the development of the project. Change Management Methodologies: Meng, (2012) stated that the roles and responsibility of the project manager depend on the changes occurred due to internal and external stimulus in the project. Changing the culture and human resources in the project increases the difficulty of the manger's role in a project. Pros and cons of the these strategies Sequential Methodologies- Pros: The sequential methodologies are easy to forward and characterized by a continuous record of the processes. The client has an overall idea of the output of the project from the begging. Cons: No new changes or requirement can be implemented during the project. In a case of faulty requirement, the success of the project cannot be recovered (Bloch, Blumberg, Laartz, 2012). Agile Methodologie- Pros: Agile Methodologies allows new changes and features to add to the project during the development phase. Agile methodologies allow testing and problem mitigation after completion of each phase. Cons: The budget and time management are entirely dependent on the efficient and effectiveness of the project manager (McHugh, Conboy, Lang, 2012). With the inclusion of the different features, the final result may be entirely different from the initial project. Change Management Methodologies- Pros: Provides full control over the change and management of the resources within the organization. The change management provides the concept of change in the manager roles, project team, and even the stakeholders. Cons: Change management methodologies have resistance to changes. The unknown and misunderstood resistance in the work and organizational environment can harm the project to extend great (Meng, 2012). Conclusion The utilization of the different project methodologies helps in efficient time management of the project risks and resources with ease and effectiveness. Furthermore, the different methodologies deal with the specialized areas for efficiently conducting projects. References Bloch, M., Blumberg, S., Laartz, J. (2012). Delivering large-scale IT projects on time, on a budget, and on value.Harvard Business Review. Killen, C. P., Jugdev, K., Drouin, N., Petit, Y. (2012). Advancing project and portfolio management research: Applying strategic management theories.International Journal of Project Management,30(5), 525-538. McHugh, O., Conboy, K., Lang, M. (2012). Agile practices: The impact on trust in software project teams.Ieee Software,29(3), 71-76. Meng, X. (2012). The effect of relationship management on project performance in construction.International journal of project management, 30(2), 188-198. Muller, R., Jugdev, K. (2012). Critical success factors in projects: Pinto, Slevin, and Prescott-The elucidation of project success.International Journal of Managing Projects in Business,5(4), 757-775. Turk, D., France, R., Rumpe, B. (2014). Limitations of agile software process.arXiv preprint arXiv:1409.6600.