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Although sometimes it seems that projects take on a life of their own, the simple fact is that projects don’t manage themselves. It takes the energy and commitment of a number of people to take a project from the initial idea through inception. As more companies embrace the concept of self-directed work-teams that work on specific projects, project management, will become a more vital element of the workplace. The following checklist will help you create a successful project management office:

- Formulate and outline the project
- Break up the project into manageable tasks
- Keep the project on target and complete it on time

Getting Started
The best way to guarantee a project’s success is to start with a strong foundation. Among the questions you should ask when putting together a project kick start:

- Is this something we have done before? If so, what did we learn from the last project?
- Do we have the time and resources to do this project effectively?
- How many people will we need? What sort of expertise should they have?
- Will we need to use outside sources?
- Does top management support the project?
- How long will the project take?
- Once you’ve put together a workable project plan, you need to put an action plan together so:
- Decide how many people will be assigned to the project. Assign people on the basis of their experience and expertise.

Make sure you have a commitment from upper management regarding adequate resources (funding, staff, time, etc.). Make sure, too, that you know exactly what upper management expects in the way of a given project. Communicate your interpretation of their instructions to your supervisors, and make sure you clear up any questions or confusion before the project begins.

Set up a communication network to ensure that everyone is talking with one another; don’t allow people to work in a vacuum.

Create a schedule with specific dates by which different elements of the project will be completed. Build-in a few days to allow for unforeseen problems.

Assign someone the task of keeping records of ongoing progress during the project. This information should be shared with everyone who is working on the project.

If no one from your division has ever worked on this sort of project, consult with people from other departments, or even from other companies (when possible) to get an idea about what to expect.

The Course of the Project
Once the project is under way, there’s a strong tendency to put it on automatic pilot. This makes it harder to fend off potential difficulties, and it cuts off any creative ideas that could enhance the project. Here are some ways to keep things moving effectively through the project’s duration:

Hold regular meetings. These don’t have to be formal three-hour progress sessions - but they should give project members the opportunity to share ideas, voice concerns and ask questions of one another. Some of these meetings should include brainstorming sessions, which promote free flow of creative ideas.

Keep written records of meetings. These make people take the sessions more seriously, and they give anyone who’s unable to attend a point of reference from which to work.

Have individual workers provide you with progress reports. These should not be one-sided conversations. Share your ideas, and offer to address the individuals’ concerns and answer questions as well.

Make sure deadlines are being met. Make it clear that anyone who anticipates missing a deadline should let you know ASAP; this way, you can adjust schedules, or provide people with additional support staff or other resources.

Keep track of what is being spent on the project. Individuals should provide you with information on how much they spend. Let them know how much money they have to work with so they don’t go over budget.

If you’re working with outside contractors or people from other departments, make sure you keep them posted on the progress of the project. You should invite them to at least some of the meetings and brainstorming sessions, and be sure to solicit their opinions.

Solicit the opinions of people in the company who aren’t involved with the project. Sometimes a fresh perspective can provide the best ideas.

Keep upper management apprised of the progress you’re making. This way, you can be alerted to any potential red flags (no manager likes surprises).

The Difference Between Success and Failure
A key factor in the success of the team is its leader. The qualities of a successful project leader include:

- Conscientiousness
- Technical and organizational knowledge
- Honestly/trustworthiness
- Consistency/predictability
- Resourcefulness

When the Project Is Completed

As the project draws to a close, it’s important to remember that a completed project is not a project that is over. Here are some guidelines for dealing with the project’s completion:

Just before the project is complete, meet with the project team as a whole (and one-on-one) to make sure all the loose ends are tied before the project is submitted. Make sure everyone is given credit for contributions.

Remember you don’t have to have a glitzy presentation with video and fancy hand-outs - but your presentation should be professional. Make sure you provide neat, complete copies of your work to upper management, and make certain your presentation is well-planned and professional. A typed copy sent to the supervisor in an interoffice envelope is not enough.

Be sure to give proper recognition to team members when you present the completed project to upper management. It’s important to recognize workers in front of their peers, but they deserve recognition “upstairs” as well.

After the project is over and handed in, gather everyone who worked on it and conduct a postmortem: What were the best aspects of the project? The worst? What mistakes were made, and how can you learn from them? Did you budget, enough time and resources? Too much? Not enough? Do you need more of less outside help for the next project? Who has demonstrated expertise that had previously been ignored? How can the entire process be streamlined? Include your outside contractors and consultants in the postmortem and be sure to get their insights.

Canadian Management Centre has earned the reputation as a trusted partner in worldwide professional development and management education.
http://www.cmctraining.org/projectmanagement.asp

Limited Liability Company

Limited Liability Companies are a relatively new form of business entity. The first ones where created in 1979 in Wyoming. They became popular and soon all states had LLCs available. Because they are such a new entity, the rules for operating them vary from state to state and even between the state and federal laws. Over the past five years, the laws regarding LLCs have been in a constant state of change.

A Limited Liability Company has liability protection. If some one sues your company they can only go after the assets of the LLC, not your personal. (This of course is contingent upon you keeping up with all the requirements of an LLC). The current laws requires all partners to be taxed the same as a sole proprietor. This is a flow through entity which means that all the income and Social Security taxes are paid on the members personal tax returns. The IRS currently requires a minimum of two members of the LLC even though some states only require one member.

The LLC is good for three major things. Firstly, it good for companies whose members have a different percentage of profit ownership and liability. For example, two people form a LLC. One has the idea and puts in a lot of time and the other just invests the start up funds. They may want to have equal ownership but the one who invested the money may want a higher percentage of the profits until the funds are repaid. An LLC will give you this flexibility.

Secondly, LLCs are good for one time projects were multiple people come together. When setup properly you can avoid security issues and distribute profits according to how you want.

Thirdly, a LLC is a good place to hold investment property. A LLC is good for this purpose because there is no Social Security tax on capital gains and rental income. So you still get the personal asset protection without worrying about paying Social Security tax. Also, property can be moved in and out of a LLC without causing a taxable event.

In addition, if someone sues you personally they can go after your ownership in the LLC. If they win and are able to gain control of your ownership, if setup properly, the LLC has the flexibility to distribute profits and control however it wants. So, you can give all profit rights and control rights to the other partner and the person who took control of your ownership still has no power to receive moneys or control the activities of the LLC.

Ownership in a LLC can be willed, sold or assigned to another incase of the death of a member.

C Corporation

A Corporation is an entity that is separate from the owners, or stock holders. Because it is an individual, if the corporation gets sued, only the assets in the corporation can be attached. This means that the personal assets of the stockholders are protected. A C-Corporation has the greatest liability protection. Also because a corporation is a separate entity, it pays it’s own income taxes. The corporation is required to pay the officers a salary and it must pay anyone that performs a service for the corporation as an employee or contract labor. But the stockholders can receive distributions of money in the form of dividends. The dividends are a portion of the profits of a corporation distributed according to the amount of stock each stockholder owns. The stockholder’s personal income tax is only affected by the W-2 received from the corporation and the amount of dividend income received.

Depending on the state you incorporate in, a corporation generally requires a minimum of three individuals as officers and directors to operate the corporation. It is also required to hold yearly meetings.

Sub Chapter S Corporation

A Sub Chapter S Corporation is different from a C Corporation because the IRS codes that apply to it are under the Sub Chapter S section. A S-Corporation is also a separate entity from it’s stockholders. However, like the Limited liability Company, it is also a flow through entity. This combination offers some interesting advantages. The S Corp offers liability protection for it’s stock holders. As long as the rules are followed, in the case of a lawsuit, only the assets in the corporation would be at risk.

The S Corp is also required to pay a minimal salary to the officers, and pay anyone who performs a service for the corporation. However, because it is a flow through company, the profit or loss from the company flows through to the stockholder’s personal tax return. The advantage of this is, that if the company shows a loss at the end of the year, it will count against any other income the stockholder may have. For example, if one spouse has a job and gets paid with a W2 form, and the other spouse has losses from a S Corp, then the losses will lower the overall income and the couple will pay less taxes. If the corporation shows a profit, that profit will be reported on the tax return in a way that the stockholder will be able to avoid much Social Security tax. That is a savings of at least 15% in taxes over the sole proprietor.

In most states only one person is required to be the director, officer and registered agent for a S Corp. That means that if you want to be the only one to run and operate your company, you can. The stock in the S Corp also can be willed or assigned to others incase of death.

If you hold investment property in an S Corp and you want to move that property out, you are causing a taxable event. You must sell the property for full market value, thus causing you to pay undo capital gains taxes. If you put the investment property in a LLC you can avoid this problem.

If you get sued personally you can get sued for ownership in your S-Corp. If the person suing you won and got control of the ownership they would be able to effect the activities of the S-Corp and would be required to receive funds according to the ownership. To avoid losing possible funds, contact an attorney as soon as you find out someone is trying to sue you. A law suit is like a time line and there is much structuring and liquidating you can do before it is time to settle or go to court. Your attorney can help you do this so when it comes time to settle you can say the magic words, “you can sue me but I don’t own anything.”

This information does not constitute as legal advice. Please contact an attorney for specifications of entities in your state and for further questions and concerns.

Christopher Anderson is part owner of Lone Peak Business Solutions, Inc. He wants to share his success as a business owner with others who desire to own their own business. He also believes that the economy is stronger with more business owners, and as a result, he is focused on helping business owners succeed.

For years Wal-Mart led the retail market with below average shoplifting rates. Recently though, shoplifting rates at the largest retailer are on the rise.

Industry wide, shoplifting rates have been in decline as retailers have implemented more security systems such as closed circuit TV and other anti-theft devices that are encoded into products. Even so, over the last few years, apparently, shoplifting is on the rise at Wal-Mart. So much so, that Wal-Mart has actually disclosed publicly that it is seeing an increase in shrinkage. No, not the kind George from Seinfeld experienced after swimming in cold water. Shrinkage is the industry term for inventory losses. Securities regulations require companies to alert shareholders to significant corporate developments that could affect the value of their holdings. Has inventory shrinkage become that bad at Wal-Mart?

Why then when the industry has a whole has seen decreases in shrinkage while Wal-Mart has seen an increase? There are four primary reasons that have been publicly debated at the reasons.

Many believe employee theft is on the rise. Several months back, Wal-Mart announced that they were changing the way employees were scheduled to accommodate peak shopping times. The concept also uses more part-time employees. While this sounds good for shoppers, it was not that good for employees. Rather than working a normal 8 hour shift, an employee may work only 4 hours to cover peak times on one day and/or maybe more hours on a Saturday to cover the busy weekend.

The end result that is being speculated is that employees are getting the shaft and are more prone to feel entitled to a free item or two when they leave the store for the day. If you were a full-time person who depending on what little pay you received and now it has been cut, you might feel entitled to pick up a few items. I am in no way condoning this, I am merely pointing out what may be happening.

The second reason is that has employees have become more discontent, they are more apt to NOT pursue other shoplifters. The general thought is that since the company does not care enough to treat me well, the heck with trying to stop that person who is stealing that item. Seriously, ask yourself, how many times have you seen someone walking out the door and the shoplifting detection system has gone off? I do not know about you, but I see it all the time. People just keep on walking and no one from Wal-Mart seems to care or check to see if a theft has just occurred.

The third reason is likely due to Wal-Mart cutting back on security. It has been widely reported that Wal-Mart has cut back on security when it went to the revised scheduling systems. With less people watching the front or back of the store, apparently, it must be easier to steal from Wal-Mart. The latest estimates put the Wal-Mart Inventory shrinkage at $3 billion a year. Yes, that is $3 billion with a B. When compared to the billions in sales Wal-Mart makes, the percentage is small, and again, is below industry norms. Still, $3 billion is a HUGE number. The question to ask, is it cheaper to hire staff to prevent shoplifting or is it cheaper to allow a certain percentage to occur as long as it remains at an acceptable level. That would be quite a study to undertake.

The final reason I believe shoplifting is on the rise is a decision Wal-Mart made to NOT prosecute smaller shoplifting claims. You may have seen the signs that say “we prosecute all shoplifters”. This has often been used as a deterrent to say that no matter how small, we will prosecute all shoplifting offenses. Well, I guess that is no longer the case.

Around June of 2006, several media sources reported that Wal-mart had implemented a new shoplifting policy which in effect said that they would no longer prosecute anyone caught taking merchandise under $25. Previously, the policy was to prosecute anybody who took at $3 in goods. No doubt Wal-Mart would have liked to keep this new policy quite, but much like anything the big behemoth retailer does, sooner or later, it gets leaked.

While this policy sounds like they are giving up, Wal-Mart reasons that they spend too much time catching the small-time crook who took a small item while the professional is walking out the store with many more hundreds of dollars of merchandise. While this thought process may have been true, no doubt the policy to relax the policy, as well as the reduction in security has had a negative effect on the bottom line.

It was also rumored that some police departments were over burdened with calls from Wal-Mart to arrest the small-time shoplifter. I sincerely hope that this was not the case.

Whatever the reasons behind the increase inventory shrinkage, it has become large enough that Wal-mart had to make a public disclosure.

Keith Scott loves to write about many different topics. Got a beef about Wal-Mart? Join his forum and tell us at Wal-Mart. He also writes about work place humor for fun.

There are many different choices to make when it comes to selecting the best type of web hosting for your particular needs. Shared hosting is by far the most popular type and is ideal for most websites. However, many websites, such as those with very high traffic or form whom security of sensitive information is of utmost concern, managed web-hosting just might be a better choice.

Shared Web Hosting
For smaller websites, purchasing a server or paying to leasing a dedicated server would be an unnecessary and very significant expense. This is an inexpensive and effective solution for most smaller websites. This type of hosting is referred to as a shared web host simply because multiple websites share space on a single server.

Web host servers are large and powerful, and have sufficient room and bandwidth capacity to host multiple websites with ease. When you select a shared hosting option, you purchase a package from a web hosting company that includes a certain amount of space and bandwidth on the company’s server. This option allows website owners to enjoy the power of a powerful server without having to pay for more than is actually needed.

The number of other websites with which your site shares a web host depends on the size and bandwidth needs of each website along with the capacity of the server. As long as your shared hosting agreement includes a sufficient amount of space and bandwidth for your needs, you don’t have to worry about running out of room in a shared environment.

If your website grows faster than you expect, and you do find that it is outgrowing your current hosting agreement, you can always negotiate with your hosting company to add additional space and bandwidth capacity to your current agreement. Another option is to step up to a higher level of hosting, which could mean getting a dedicated server with managed hosting.

Managed Web Hosting
Websites that deal with highly sensitive confidential information, as well as those who receive a great deal of traffic are more suited for a dedicated web hosting environment than for shared. With dedicated web hosting, your website does not share a server with other websites. One server is dedicated specifically to your website.

Most companies who need the capacity of a dedicated web host decide to go with a managed web hosting solution. This is because the actual management and administration of a dedicated host can be very time consuming. If a website owner selects an unmanaged hosting option, he or she becomes responsible for every aspect of maintaining the web hosting server. Managing a web host is very time consuming, and involves everything from day to day maintenance to security issues.

Those who operate large websites are typically busy with other activities, and it is worth setting up their web hosting agreement so that the hosting company handles most of the task associated with managing the dedicated host. Another option for managed web hosting is simply to contract with an outside organization to handle the duties associated with managing the web host server.

Making a Decision
If your website is large enough to need a dedicated web hosting, it is certainly in your best interest to go with managed hosting instead of unmanaged hosting unless you employ a server maintenance expert who has the time to handle the large task of maintaining your web server.

However, before making the decision to invest in managed hosting, it is in your best interest to see if shared web hosting will meet your needs. Shared web hosting is significantly less than dedicated hosting options. Remember that shared web hosting is sufficient for most websites, so don’t take on the expense of managed hosting if it is unnecessary.

Fusepoint.com provides solutions for business continuity services, managed security and disaster recovery, managed hosting capabilities.
http://www.fusepoint.com/francais/

If you have your own firm and you’re fed up and tired of Uncle Sam reaping too much of your hard earned profits, you might consider moving to St. Thomas or other parts of the United States Virgin Islands (USVI). Here you can build your own business, or grow your existing one, and keep most of what had been your tax payments for yourself and your firm.

The objectives and general purpose of the organization is to boost the growth of industry and business in the U.S. Virgin Islands and to aid in its development, expansion and conception. A side authorization, one that is a answer of the EDC’s success in its mission is the growth of job opportunities for occupant of USVI.The main mission of the USVI EDC is written in its Title 29 bylaws. The Economic Development Commission has offices not only in St. Croix and St. Thomas but also in Washington DC and New York City.

The bare truth seems to be that U.S. companies, and somebodies who want to become entrepreneurs have just not learned about this wonderful business development and start up program.One might wonder why U.S. businesses aren’t flocking to the Virgin Islands for this benefit and why the Economic Development Commission hasn’t been infested by applications.

Companies have to characterize for the help of the EDC but those who do receive a number of profits, the best of which is a reduction of 90 percent in the income tax they must pay to the U.S. federal government.

The territorial and U.S. federal governments put their bureaucratic heads together to come up with a series of business tax motivators that would force growth and investment in the USVI. As a result the USVI must heavily rely on services and exporting to yield employment and income for its residents.If this seems like a rather outrageous offering, and perhaps one with a catch consider this: the economy of the Virgin Islands is insular and small. Its own natural resources are scarce. The major focus on this growth was expected to be on activities related to trade and export.

As of the last documented report, close to 100 firms that employed close to 6000 islanders were realizing federal tax benefits from their EDC participation. The industries were varied, and included guest houses and hotels,manufacturing and gathering, tourist attractions, service industry businesses,transportation services, and manufacturing. Of the latter, the categories including the production of aluminum, refinery of oil, watch manufacture, pharmaceuticals, rum and liquor, high tech electronic parts and assembly and construction materials.

Garland Choate (GR) is a retired Airline Captain who now publishes articles from the USVI. Find many great articles about Caribbean Living and great luxury homes in paradise at http://www.StThomasLuxuryHomes.com

For those of you who really desire the straight legal weedy, here are the details. This isn’t the entire Internal Revenue Service document, 2006 bulletin number 38, but it’s enough to clarify what the USVI Economic Development Council (EDC) program is all about.If you’ve heard about the great savings in the United States Virgin Islands for your business, what you’ve heard is probably true. If you qualify, you can save 100 percent on some taxes such as excise taxes, and 90 percent on the business income tax you would normally pay to Uncle Sam if you were stuck year after year away from this gorgeous island paradise.

Whenever necessity to a business executives, sympathising of the EDC application process, the entire IRS bulletin can be downloaded from the government Web site.

An acknowledge states how businesses must prove that the business income is derived from the USVI territory, in order to realize the corporate benefits and save the income taxes allowed in the EDC program.This IRS EDC bulletin, to help Virgin Islands businesses save taxes, was issued on September 18, 2006. Notice 76 of this bulletin is found on page 459. It gives clear examples that show how to fill out the application for the EDC program, and confirms the details of the program and the regulations to which you must adhere to qualify.

Procedure 37, on page 499 of the IRS document states how the business taxpayer, in qualifying for the USVI EDC program, can prove its income qualified for time period and location.

Employee plans for the corporate USVI Economic Development Council corporate benefit programs are spelled out in part 9280 of the IRS bulletin, on page 450. Here is spelled out the section 411 final regulations for the qualification and compliance with the anti-cutback rules.Here you will also find the criteria that determine reasonable fees for the costs that could be associated with creating the studies, research and /or compilations as needed.

Announcement 2006-67, found on page 509 of the IRS bulletin explains any corrections to any temporary EDC IRS regulations, if they are related to a firm’s application to save taxes and other corporate benefits through foreign tax credit limitations and the payment of dividends.

The administrative regulations of the IRS EDC program for United States Virgin Island firms are detailed in the bulletin’s page 460, its Review of Procedures 2006-34. Here you will find specifications for the corporate filing of Form 1042-S. This is known as the Foreign Person’s Income Subject to Withholding form for U.S. Source Income. It can be submitted either magnetically or electronically. This new regulation supersedes Publication 1187 on the same subject. In this administrative material you will find the EDC guidelines set forth by the IRS for other agencies of the government or residents so that they can request that special statistical research and studies or compilations be completed necessary for a firm’s EDC application.

Garland Choate (GR) is a retired Airline Captain who now publishes articles from the USVI. Find many great articles about Caribbean Living and great luxury homes in paradise at http://www.StThomasLuxuryHomes.com

There are a growing number of companies who are now paying more keen attention in creating and maintaining a strong corporate brand. They are decidedly taking a leaf out of the experts books, from big conglomerates that have valiantly stayed at the top position through the year amid the stiff competition ensued by other key players in the industry. In the marketing world, the newest ingredient for success is by developing a brand platform, which is said to be the ultimate springboard for every branding decision.

The companys brand platform is basically the very essence of what the product brands stand for. It is a strategically an innovative approach to corporate branding based on a set of statements that will encompass the identity of your company, what it is all about, its products and services, and its mission and goals. Although there are varying approaches to formulating a branding platform depending on the type of business, it vitally has these common elements:

Mission

The primary effective approach to corporate branding is to be able to come up with a set of driving philosophy of your business. It should be succinct and clear in expressing the companys purpose, the products features and benefits, your target market and the advantages that would back you up in view of the tough competition. Make sure that your mission statement will be brief but written in a very compelling way.

Identity Attributes

These are the list of the core attributes of your brand, the key words or phrases that you want your clients to associate with your company, products or services you offer. These features should stand out from the rest of the competitors and should resonate the specific preferences of your target market. A great example of this is the word safety, which most consumers would readily associate with FedEx. The company basically owns the word.

Value Proposition

Another efficient approach to corporate branding is by coming up with a set of your companys competitive advantages over and above other adversaries in the industry. The value proposition will mainly inform your consumers of the main benefits if they choose you product brand from the rest of other competing brands.

Brand Story

It is important to be able to record the humble history of the organization, and chronicle the grueling way on how you were able to survive in the industry through the years. This unconventional approach to corporate branding will help you build a powerful reputation, backed up with valuable years of experience. Everybody loves a good story, and your companys public relations will certainly benefit by sharing your own unique success story.

You have spent a great deal of your resources time, energy and money to develop your business offerings and ensure quality and customer satisfaction. There is growth in your business and to further this growth, your brand needs to be strong and sound. You need a unified branding strategy that will include all your business operations, communications and dealings. This is where corporate banding consulting firms can help.

For more corporate business information or to view a selection of corporate articles and information and strategic business planning articles and information visit Articles.net.au - Your source for free Articles, Information and Website Content.