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MGT604 - Management of Financial Institutions - Lecture Handout 22

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Mutual funds

What are mutual funds?

An investment vehicle which is comprised of a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, money market securities, and similar assets. Mutual funds are operated by money mangers, who invest the fund's capital and attempt to produce capital gains and income for the fund's investors. A mutual
fund's portfolio is structured and maintained to match the investment objectives stated in its prospectus.

In business encyclopedia

Mutual funds belong to a group of financial intermediaries known as investment companies, which are in the business of collecting funds from investors and pooling them for the purpose of building a portfolio of securities according to stated objectives. They are also known as open-end investment companies. Other members of the group are closed-end
investment companies (also known as closed-end funds) and unit investment trusts. In the United States, investment companies are regulated by the Securities and Exchange Commission under the Investment Company Act of 1940.

Mutual funds are generally organized as corporations or trusts, and, as such, they have a board of directors or trustees elected by the shareholders. Almost all aspects of their operations are externally managed. They engage a management company to manage the investment for a fee, generally based on a percentage of the fund's average net assets during
the year. The management company may be an affiliated organization or an independent contractor. They sell their shares to investors either directly or through other firms such as broker-dealers, financial planners, employees of insurance companies, and banks. Even the day-to-day administration of a fund is carried out by an outsider, which may be the
management company or an unaffiliated third party.

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MGT613 - Production / Operations Management - Lecture Handout 44

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Learning Objectives

After learning about the network diagrams, the project life cycle and the responsibilities of project manager. We will now learn the important concept of time estimates (which is based on computing algorithms of Early Start, Early Finish, Late Start and Late Finish) and variances which are used to control the project activities. We will consider important aspects like the forward and backward path time estimates, Project Crashing, Time Cost Trade Offs, Project Management Software, Risk Management and develop a project management based Operations Strategy.

Time Estimates

There are two common types of time estimates namely

  1. Deterministic: Time estimates that are fairly certain
  2. Probabilistic: Estimates of times that allow for variation

Example: Hospital

We take the same hospital example and now place the time dimension to it .

time dimension

The activities from locating the facility to making the hospital fully are represented in the form of a network diagram. The student should try to write down the activities along with the activity description then try to draw the network diagram using both the activity on node and activity on arrow as practice.

Read more: MGT613 - Production / Operations Management - Lecture Handout 44