Payment Card Systems Were Breached - 1026 Words

On September 8th, 2014, Home Depot released a statement indicating that its payment card systems were breached. An investigation had started on September 2nd but they were still trying to discover the actual scope and impact of the breach. Home Depot was one of the many victims to a retail data breach in 2014. The unfortunate thing is the way the attacker’s infiltrated the POS networks and how the attackers were able to steal the payment card data, were the same methods used in the Target data breach. By ignoring the warnings created from the breach at Target, Home Depot allowed the attackers to use similar methods that could have been easily defended. Through the use of a third-party vendor’s logon credentials, the attackers were able to gain access. Then they exploited a zero-day vulnerability in Windows, which allowed them to pivot from the vendor-specific environment to the Home Depot corporate environment. Since both networks were linked, this was very easy. Once they were in the Home Depot network, they were able install memory scraping malware on over 7,500 self-checkout POS terminals. They just put out an update to all the POS machines. Just like any IT shop would do. This malware was able to grab 56 million credit and debit cards. The malware was also able to capture 53 million email addresses. The stolen payment cards were used to put up for sale and bought by carders. The stolen email addresses were helpful in putting together large phishing campaigns. AlthoughShow MoreRelatedCredit Card Fraud, An Integral Part Of The World s Economy1259 Words   |  6 Pagesand Debit cards have become an integral part of the world’s economy. Due to this extensive usage of cards, we have become a â€Å"cashless society†. We make use of credit cards to make online payments, to buy items at retailers and grocery stores; almost anywhere we go and purchase, we extensively make use of credit cards. This over dependency and usage of credit cards has given rise to new form of crime called the Credit Card fraud. Credit card fraud is the use of one person’s credit card informationRead MoreComputer Hacking Is The Scale Of The Problem Essay972 Words   |  4 Pagesaccess to their systems. The Department of homeland Security and Secret service recently, estimated that more than 1,000 businesses in the United States had been infected with malware programmed to siphon payment card details from cash registers. It is believed that many of these companies had no idea they were breached and sharing the information of thousands of customer’s credit card information. A main reason for concern with cybercrime is the scale of the problem. If it were a series of on-offRead MoreSecurity Violations And Security Breaches1190 Words   |  5 Pagesbusinesses from getting hacked. Network security is to help protected information, to create the possibilities that various information is not being breached or hacked by other users. The network security is to be concerned about employee information, visitors and customer information, as well as vouchers and data. The consequences of security being breached can be significant in many ways. In the event of a potential breach of security, some state laws require businesses to follow up with informationRead MoreSecurity Violations And Security Breaches1718 Words   |  7 Pagesbusinesses from getting hacked. Network security is to help protected information, to create the possibilities that various information is not being breached or hacked by other users. The network security is to be concerned about employee information, visitors and customer information, as well as vouchers and data. The consequences of security being breached can be significant in many ways. In the event of a potential breach of security, some state laws require businesses to follow up with informationRead MoreMichaels Store Inc.1038 Words   |  5 PagesMichael’s store Inc. had a Security breach, which took place between May 8, 2013 and January 27, 2 014. About 2.6 million cards or about 7 percent of payment cards used at its stores during the period were affected. Alarmingly, its subsidiary Aaron brothers also had been breached between June 26, 2013 and February 27, 2014. It was reported that Aaron brothers had 400,000 cards impacted. The duration of the treacherous attack in total was 8 months (Schwartz, 2014). In this report, security breach ofRead MoreTjx Security Breach Essay1119 Words   |  5 PagesCanada. In January 2007, it was discovered that hackers stole as many as 200 million customer records due to a failed security system by TJX which resulted in a $4.8 billion dollars’ worth of damages (Swann, 2007). It is said that the breach occurred because they did not have any security measures in place to protect consumer’s data such as their debit cards, credit cards, checking account information, and driver’s license numbers. Reports identified three major areas of vulnerability: inadequateRead MoreS ecurity Breach Of Banking Industry And Retail Business1621 Words   |  7 Pagesand Retail Business Financial technologies play a significant role in modern banking system. Most of us are familiar with internet banking and mobile banking. These technologies allow us to access our accounts, transfer funds, pay for our purchases, and even apply for a loan without leaving a house or an office. In addition, most of us prefer to pay for our purchases with a quick swipe of a credit or a debit card. No doubt, it is more convenient than caring and counting cash every time we go to aRead MoreElectronic Payment : A Long Time Since We Adopted Electronic Payments1269 Words   |  6 Pageselectronic payments. Currently the most common form of an electronic payment is the use of EMV (Europay, MasterCard, VISA) cards with a magnetic stripe. These include credit cards, debit cards, prepaid cards, and now smart cards. In these processes the card or card number is swiped or entered into the merchant’s computer through a terminal. The terminal transmits data to the acquirer (a bank, for ex ample), and then the acquirer transmits data through a card association to the card issuer who makesRead MoreCustomer Privacy Of The Hospitality Service Industry Essay1400 Words   |  6 Pagesan easy target for data security infiltration. Hotel payment card data are stored longer with the practice of booking rooms in advance. Moreover, credit card data are stored during the duration of the stay and even longer to cover payments of restaurant bills and other services. Multiple hotel chains like Hyatt, Sheraton, Trump, Hilton and Mandarin Orinetal have admitted to having their POS or point-of-sale systems hacked in 2015. POS systems are both the physical technology and software used inRead MoreFinancial And Business Implications Of Target Corporation Essay1562 Words   |  7 Pageswas affected by the security breach it was the largest breach that ever happened. This document will explore how many people were affected, what is the effect on Financial and Business implications from t he data breach, Lawsuits against the target company, How did the company handle the crisis like when did the company discovered the breach and when did the customers were notified. Introduction About target: Target store was first opened on May 1st 1962 Minneapolis of Roseville, it mainly focused

Media Bias In The Media - 1474 Words

Throughout America’s infantile years, the media solely consisted of the printing press, but as a result of industrialization, commercialization, and professionalization, it now extends into the world of technology, reaching far more Americans than ever before. Media can be defined as collective outlets for mass communication. In today’s society, massive amounts of media are consumed in a plethora of forms: newspapers, magazines, television, Internet, and social media. The 2007 U.S. Census Bureau s Statistical Abstract of the United States reports that adults and teens spend nearly five months out the year watching television, surfing the Internet, reading daily newspapers and listening to music (cited in ABC News, 2006). In correspondence†¦show more content†¦On the contrary, my mother, a liberal, denounces Fox News, relying on CNN, ABC, and MSNBC for her news. Their opposing political beliefs reinforce the dichotomy within media with conservatives on the right and liberals on the left, both remaining loyal to their respective news outlets. This is far more common than my interviewee’s anecdotal story; it extends across the entire nation. The Pew Research Center fortifies this claim by analyzing the relationship between political beliefs and preferred media sources. In doing so, they discovered that Fox News serves as the primary news outlet for 47 percent of conservatives, while CNN, NPR, and MSNBC are preferred by liberals (Mitchell, Gottfried, Kiley, Matsa, 2014). By narrowing in on a specific ideology, news networks earn the trust of their audience and retain their attention. The Pew Research study corresponds with the results from my interviews, showing that 88 percent of conservatives trust Fox News, like my father, and 52 percent of liberals trust MSNBC, like my mother (Mitchell et al., 2014). The growing trust within partisan outlets simultaneously corresponds with the major spike in viewership these businesses experienced . According to The Wall Street Journal, Fox News came in first in prime time television rating in 2016 with an average audience of 3.1 million, which was a 72 percent increase from the previous yearShow MoreRelatedMedia Bias And The Media980 Words   |  4 PagesChurchill The â€Å"roots† of bias in the media date back to the nineteenth century, and criticism about bias partly reflects a controversial idea about what exactly is the media’s role and purpose. Newspapers and television alike are suppose to exist to relay objective, factual information gathered and communicated by journalists and reporters. By definition according to wikipedia, media bias is bias or perceived bias of journalists and news producers within the mass media in the selection of eventsRead MoreMedia Bias And The Media1042 Words   |  5 Pagesor the method for reporting them is termed as Media Bias. It is some of the time said that media tailor the news and as opposed to introducing the truths it shows different purposes of perspectives and sentiments. Media inclination is pervasive or broad and it defies the guidelines of news-casting. Media Bias is seen in just about all the nations on the planet and the bearing and level of its effect differs. Some of the time the impediments of media may likewise be translated as inclination. SuchRead MoreMedia Bias And The Media1365 Words   |  6 PagesMedia Bias In today’s society, remaining connected and knowledgeable of current events and the newest trends is vital to staying ahead in business, education, and social standing. This information is supplied to everyone through the internet, newspapers, television, and radio. One can tune into stations such as CNN, NBC, Fox News, Al-Jazeera, and many others (â€Å"SQs of Media Outlets†). In order to meet the needs of viewers, readers, and listeners, the ideal media system would contain accurate, quickRead MoreMedia Bias And The Media1531 Words   |  7 PagesPeople who perceive media bias will factor in the news source when they attempt to formulate opinions of ideological bias in the news content. This idea is called the hostile media phenomenon or hostile media effect. In a groundbreaking study in 1985, researchers, Vallone, Ross, and Lepper, postulated that when there is a controversial issue, a partisan is more likely to perceive bias against their viewpoint, even if the inf ormation is coming from an objective news source. The causes effects of theRead MoreMedia Bias And The Media1353 Words   |  6 PagesMedia has been playing a significant role in our daily lives by developing our personalities, enriching our knowledge and providing us with different sorts of information. It has a tremendous power in framing cultural guidelines and shaping political dissertation. If the information provided to the U.S. citizens is distorted, then they cannot make informed decisions on the matters of public policy. Thus, it becomes vital to the American democracy that the news media and its institutions remain unbiasedRead MoreMedia Bias And The Media1402 Words   |  6 PagesMedia has become an integral part of the lives of both Americans and people all around the world. It has its influences on different aspects of a person’s aspect on life. Many political analysts have looked at the influence of media on elections, especially as the media has become more p rominent in the world. With technology becoming more and more a n integral part of the daily life of a person, this subject will become that much more relevant. We live in a time where almost every person in the developingRead MoreThe Bias Of The Media1317 Words   |  6 Pages There is no getting away from the fact that the media is biased it is just which side of the aisle that they are biased to that I believe is the main question that needs to be answered. The progressive liberal side screams bias whiles the conservative army also scream bias so is there really bias in the media. I will take a look at the mass media most specifically cable news and syndicated talk shows to prove the point that bias in the media is more a myth that the leaders of each side preachesRead MoreThe Bias Of Media Bias1820 Words   |  8 PagesI. Introduction While there have been several studies on how people perceive media bias, few have been conducted to determine how to combat incorrect identification of media bias. To combat this lack of knowledge, we created an experiment to determine if gaining knowledge about media bias through two different treatments enables people to identify, rather than perceive, media bias. The first treatment is a list of tenants that the liberal and conservative ideologies maintain on specific issues.Read MoreMedia Bias2516 Words   |  11 Pagesthat plagues us everyday without us even realizing it is media bias. We see it in the news. We see it on our favorite sitcoms. We read it everyday in the paper. Yet, we really dont recognize it when we hear it or see it. Media bias is evident in every aspect of the media, yet the problem is that we dont even recognize it when it is right in front of our faces. Are the impressions that we form about individuals a product of the media? Do we form certain opinions about particular types of peopleRead More Media Power and Media Bias Essay995 Words   |  4 Pages The powerful media barons have always altered broadcasts to achieve their personal or corporate agenda. What purpose does the media serve now? Measuring Bias on Television by Barrie Gunter has elaborated on the idea that news was originally set up to act as a nati onal tool to stir thoughts. But is it? No! Is the media even enlightening the public now? After careful speculation of mass media and the communication world, I am under the impression that broadcasts have been used to entertain, frighten

Interpret Trends free essay sample

From this I can conclude that those who live in the Brisbane city area earn a lot more than those in the Sunshine city area. The difference in average wage is $41056. 19. This is a lot of difference between the two cities. As well as looking at the average earnings, you can also see the average; customers are willing to spend in these different areas. Those who live in Brisbane city are willing to pay an average of $15125. 53 compared to an average of $5099. 39. This is huge difference of $10026. 14. I can conclude from these results that those living in the Brisbane City area are much more likely to spend more in store. This will help me when pricing my products as it will allow me to adjust the prices to ensure that I am targeting consumers within the affordable price range for them. This will hopefully increase my overall sales. Market Share | The Yard| BBQ’s R us| Outdoorz| BBQfun| 009 of 2000 BBQs sold in Brisbane| -| 500| 500| 1000| 2010 of 250 BBQ’s in Brisbane| -| 75| 75| 100| From the pie charts above, you can see that in 2009 and 2010, BBQfun was the leading outdoor retailer in terms of number of BBQs sold. In 2009, BBQfun sold 50% of the BBQs sold however this dropped in 2010 to 40%. This indicates that there is a problem with the amount of BBQs being sold and that BBQfun has lost some of its market share. This is probably due to a need in product development in terms of the BBQs however the fact that customers are leaving the store as well indicates that drastic improvements need to be made. Sales Performance | 2007| 2008| 2009| 2010| Total Sales $| 5,000,000| 8,000,000| 10,000,000| 11,000,000| From the results above, you can see that since 2007, the sales performance of the company has continuously increased. Starting at $5,000,000 in 2007, the first 2 years saw a 100% increase. This has significantly dropped from 2009-2010 however, with only an additional $1,000,000 being made. Linking in with the market share results, this indicates that there is probably a huge room for product development as well as the company needing to improve overall as well! Qualitative analysis Currently, BBQfun have 3 main competitors: The Yard, BBQ’s R us and Outdoorz. The Yard is a great competitor as they sale high end quality, Australian products however their stores are not located in Brisbane which makes them less of a local threat. The other stores however have either cheap or no imported good and are gaining strength in the Brisbane market. I have created a questionnaire to ask my customers to find out what makes them return to our store and continue to purchase our products opposed to our competitors. Which store do you prefer purchasing products from? BBQfun BBQs R us Outdoorz 2. What makes you continue to visit our store opposed to the competitors? 3. What do you prefer about the other stores in comparison to ours? 4. What do you think of our customer service and in which ways can we improve? 5. What do you think about the quality of our products? 6. What are the favorite products that we offer? 7. How do you feel about the location of our store? Easy accessible Satisfactory Hard to access 8. Does having a guarantee longer than our competitors, influence you to come back to us? I asked these questions to 100 of staff in store on a Saturday. The sample I used was an opportunity sample as I used the first 100 people I could talk to. The feedback that I received from the interviews was the following: * Our biggest competitors were reasonably even in terms amount of people prefer purchasing products from them. 60% of people did say that they prefer purchasing from our store however this could be a biased view as they were in our store at the time. The biggest strength of other companies seemed to be that Outdoorz offered an excellent customer service. Apparently they offer free home delivery, help packing products and always have enough, friendly staff employed to help with all enquires. This is something where we can look to improve. * Our customer service is perceived as great however the main improvements I gathered were that we need to have more staff during busy periods. This is something to definitely take action on so that we can offer a higher quality service to all customers. * The quality of our products was perceived as very high. 0% of our customers were extremely happy with our products. Also, one of the main reasons consumers continually buy from us instead is due to the 3 year guarantee that we offer opposed to other stores. This is something we are very happy with and will continue to monitor and provide. * The favorite products that we mentioned were the Outdoor Furniture collection. 50% were happy with the quality and price and broad range of products that we offer. * I also found that the location of our store is a big key to our success and gives us an edge over our competitors. Due to us having a big customer car park and being easily accessible, we have an edge over our competitors which we will continuously monitor to ensure this stays the same. Overall, from this feedback, we are doing fantastically well however if we improve on other areas such as customer service, I’m sure that our market share will increase as well as our sales and profit! Opportunities and Threats Opportunities * A growing market in a high growth area with a significant percentage of the target market still not aware of BBQfun’s offer. * Increasing sales opportunities outside of our target area – greater Brisbane Threats Competition from local independents that can reduce prices as owner operates lower than our staff-run stores. * Competition from national chains moving into the Brisbane market. * A slump in the economy reducing customer’s disposable income spent on outdoor lifestyles. Assessment Task 2: Analyse qualitative data – report BBQfun†™s marketing strategy is looking at utilizing an advertising budget of $250,000 for the year. They are looking to target local letter box drops, radio and magazines. BBQfun will use direct mail and local advertising, with coupon inserts in the BrisNews magazine likely to be the most successful of the campaigns. There will be no discrimination or unethical practices. Occupational Health and Safety Act This ensures that the customers and employees are always looked after and provided a safe environment to work or shop in. Kelly Marie Vidler S10268 Interpret market trends and developments Assessment Task 1: Draft Report Kelly Marie Vidler S10268 Interpret market trends and developments Assessment Task 2: Analyse qualitative data- report Kelly Marie Vidler S10268 Interpret market trends and developments Assessment Task 3: Market analysis report and presentation

The East West link Project

Introduction The intention of the Victorian State Government to undertake the East West Link Project is a good move that will improve the state of infrastructure in the City of Melbourne.Advertising We will write a custom report sample on The East West link Project specifically for you for only $16.05 $11/page Learn More The construction of 18 kilometer-road network across Melbourne to link the already existing Western Ring Road to the Eastern Freeway is a very ambitious project. Given that this project is estimated to cost about 8 billion US dollars, it is clear that the project will be very involving and therefore, needs a lot of dedication from the government and all the stakeholders. According to Kloppenborg (2009), it is always important to understand the magnitude of a project before developing its prototype. When developing a prototype, the management should have a deep understanding of the intended goals and objectives that the project seeks to a ccomplish. In this case, the project management must have an understanding of what the Victorian State Government expects from the project. This government intends to spend about 8 billion dollars in this project. It must get what its investment is worth. The project management team has a major task of ensuring that this project yields the needed result. This must start from the planning stage of this project. Heldman (2011) says that a successful project is always seen at the planning stage. Planning of the project involves forecasting what the project team members will be doing, the expected timeline for every activity in the project, the associated costs at every stage, and any other costs and tasks that will be carried out within the project. The planning stage also involves defining the roles of every project member. Project Initiation Tonnquist (2009, p. 118) observes that the first stage in project management process is the initiation stage. At this stage, the financiers and those who own the project identifies the need to undertake the project.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In this project, the Victorian State Government has identified the need to develop a road that would join Western Ring Road to Eastern Freeway as a way of decongesting the City of Melbourne. Having identified the need to be met by project, then the project team members can move to the planning stage. Project Planning Project Objectives According to Meredith (2012), it is not possible for a project to be successful when project members and the stakeholders do not understand the exact objectives of the project. Defining specific project objectives is always important before the onset of the project. In most of the cases, the financier is always responsible for the development of these objectives. This is because the financier knows what should be achieved upon completion of the project. In this project, the Victorian State Government knows why this project is important and what it should achieve when it is finally completed. Developing project objectives is not only meant for the financiers or owners of the project. Every stakeholder has a role to play in this in order to ensure that the objectives developed are smart in nature. The objectives should be specific and implementable within a given timeline. The following are some of the specific objectives that this project should achieve when it is finally completed. This road should be able to link Western Ring Road to Eastern Freeway upon its completion. The infrastructure should be long lasting and able to meet the traffic needs within Melbourne City. The infrastructure should be developed based on the set standards of roads in Australia. The development of this infrastructure should cost this government an amount, which is within the initially set budget. The project should be completed on or befor e the set timeline in order to meet the expectations of the taxpayers. The above are some of the objectives that the project members must work with focus of achieving them. Given that this project will commence in late 2014, it is important for all the stakeholders to ensure that they do everything within their powers to make the project start in the right manner, and that all the needed project deliverables are availed. It is through this that this team will be assured that the project will run smoothly until the day of its completion. The Victorian State Government has a duty to play in ensuring that it avails all the resources that is needed for this project. The project managers also have a role of stipulating the path this project will take, and explaining to the financier all that which is needed to make this project a reality. Justification of the project Meredith and Mantel (2012, p. 71) observes that projects are always costly ventures in terms of the resources needed, and the time that is invested in it. The East West Link Project will cost about 8 billion US dollars. The project will also need about six years to be completed. These are massive resources that this project will consume for it to be completed successfully.Advertising We will write a custom report sample on The East West link Project specifically for you for only $16.05 $11/page Learn More The taxpayers will have to meet the costs of this project. It is therefore, important to state clearly to them the importance of the project. They should be made to understand why the project is worth the cost. Making all the stakeholders understand the importance of the project helps in justifying the need to implement the project. In the East West Link Project, the intention is to link Western Ring Road and Eastern Freeway, which already exist. The need to link them emanated from the fact that motorists are forced to spend a lot of time on the road using the existing r outes, thereby creating congestions in the city. The project seeks to ease traffic congestion within the City of Melbourne by creating a new route that will enable motorists to take shorter routes. Upon its completion, the project will ensure that traffic snarl-ups that are always experienced within Melbourne City are eliminated. This will improve efficiency of doing business in this city. It will attract more investors who will consider the city attractive due to improved infrastructure. It will also help in eliminating millions of dollars that is lost every year because of the slow movement of traffic, especially during the peak hours. The residents of Melbourne will have a pleasant experience of moving on roads that are free from traffic jam. The link will be cost effective for road users not only because of the eliminated traffic jam, but also because of the reduced distance motorists will have to cover. Therefore, this viable project can help this city in a great way when it is finally completed in 2019. Project scope When undertaking any given project, hopes are always high from various stakeholders as each individual speculates on what the project shall achieve when it is finally completed. According to Bruce and Langdon (2000, p. 56), it is always important to regulate these expectations by defining what the project scope is, in order to make everyone understand the real intention of the project. Harmonizing the expectations of all the stakeholders is important in ensuring that the outcome of the project is convincing to every individual. It helps in eliminating some unrealistic hopes that some stakeholders may have, and making them know what to expect of the project. It is always the intention of project members to satisfy the needs of all the stakeholders when a project is completed.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Defining the scope of the project makes them understand what to expect from the project, hence increasing chances of the project satisfying the stakeholders upon its completion. This will form part of the success of the project when it is finally brought into completion. In this project, the scope is limited to constructing a road linking Western Ring Rad and Eastern Freeway. This road will be a dual carriageway that will be able to support all types of vehicles. The road will have six lanes. This road is expected to eliminate the need for motorists who are on Western Ring Road to travel to the city center before going to the Eastern Freeway. Those on Eastern Freeway will also not need to travel to the city center before getting on the Western Ring Road. The road under this project will link the two routes directly. This will ease congestion in the city, as it will reduce the number of vehicles travelling to the city center. This project will save time for the road users because it would take a shorter time to use this new road than to go through the city center. It will reduce the cost of fuel for road users because of the shorter distance to cover. The project is limited to developing a standard quality road linking the two highways. Project Execution The Project Management Team The first step in project execution is to identify project team members. In every project, it is important to understand the project members who will participate in various activities within the project. As Nagarajan (2005, p. 27) says, sensitive projects such as those involving infrastructure needs people with necessary skills to undertake various duties. In the development of this infrastructure, there will be a need for civil engineers, designers, among others professionals. There will also be a need to have a lawyer who will constantly ensure that the interests of all the stakeholders in the project are protected. There should be a clear hierarchy among all the project members de fining the role of each project member and their ranks. The following diagram shows the hierarchy of the project members. The above diagram shows the capacities held by different individuals within this project. The project manager heads the project. It is important to note that the Financier of the project, who is the Victorian State Government, occupies a special position within the project. The government falls in a special rank within the project, which allows it to supervise the activities within the project, but neither directing nor being directed by any officer within the project. This means that the financier, who owns this project, will have an opportunity to monitor directly the operations of the project without the feeling that it is interfering with the normal operations of the project. Under the project manager are specialists who are responsible for various tasks within the project. The project team managers will be in charge of specific groups tasked with various du ties in the project. The project members, especially the junior officers will be undertaking various operational tasks within the project. Project team manager will head each group within the project. This team manager must be an individual with the technical knowledge in the area he or she will be heading. This means that most of them will be engineers. Each team will be reporting to the project manager who will then brief the top officials of the Victorian State Government. It is important to note that The Victorian State Government will have its own officials in the project who will carry out various investigative activities within the project and report directly to the top officials of the Victorian State Government. The reports given by the government agents in the project will be compared closely with the report given by the project manager to determine if they agree. It is important to note that the government agents will be working independently to investigate progress of th e project. The quality assurance team will be answerable to two offices about the progress of the project and the quality achieved at each stage. The first office it will be answerable to is the project manager’s office. This must be done twice in every week. The quality assurance team is also answerable to the agents of the Victorian State Government whenever they request for any information. The project manager will be responsible for ensuring that the project members work in line with the overall objective of the project, and in unity. This will help in ensuring that all the intended objectives are achieved successfully and within the desired timeline. Project Costs and Timeline It is important to state project costs and the timeline within which it should be brought to completion. Specifying project costs helps in weighing the benefits against its costs. This way, the client in the project can determine whether another cheaper option can be taken. To the team responsible for implementing the project, it is important to define costs in order to ensure that every item within the project is catered for to avoid disruption. According to Kerzner (2013, p. 45), there are cases where a project fails because there was no precise determination of the costs of the project. In such cases, implementers may come to realize that the amount of money they had set for the project is not enough. It would force them to ask for more funding otherwise the project may be grounded. In order to avoid such failures, defining a comprehensive cost of the project is important in ensuring that the project experiences no financial challenges once it gets underway. In this project, it is expected that the total cost of the project will be about 8 billion US dollars. Project timeline helps in defining project success. Haynes (2002, p. 45) notes that stating the timeline helps in the assessment of the project. The project assessment team will always use the set timeline to determin e if the project is running within the schedule. Every stage in the project must have a clear date on which it should be completed. Any causes of delay that are justifiable should be communicated to the relevant authorities as soon as possible so that they can make a decision on how to handle the issue in time. In this project, it is estimated that it would take about six years for this project to be completed. It will start in late 2014 and completed in 2019 or 2020. The timeline for this project is further stated in the Gantt chart attached. The Gantt chart explains all the activities involved in this project and the estimated time it will take to complete the entire project. Activities to be undertaken in the Project It is at the implementation phase of a project that a lot of attention and concentration is needed. This project is expected to begin officially in 2014. This means that the duration between now and its commencement date will involve a series of planning, and other a pproval activities that will be carried out by various stakeholders. This will need to start by development of a prototype (Field and Keller 1998, p. 89). The prototype will need to be tested to determine its effectiveness and the ability to meet the required standards. The engineers involved in the project will do this. The lawyer will help them by giving advice on relevant laws and government requirements in every stage of planning and project implementation. The lawyer will tell the engineers of the consequences that the project may face when they take a given path. Monitoring and Controlling Process In order to ensure that the needed quality in this project is achieved, a team will monitor the project closely. When a given prototype has been developed, the project manager and the engineers who were responsible for developing the prototype will explain the model to the owners of the project (top officials of the Victorian State Government). These officials will need to approve th e prototype before it can be given green light for full implementation. When these officials reject the prototype, the engineers and all the responsible project members will be forced to go back to the drawing board and develop a new prototype that is acceptable to the project owners. When the prototype is accepted, then the project members will go to the next step of implementing the approved model. When monitoring the progress of the project, the quality assurance team, and Victorian State Government officials will use the prototype that was approved to determine if the project is in line with its objectives as outlined in its plan. Closure This project can be brought to a closure under three circumstances. The first circumstance under which the project can be brought to a closure is upon its completion, which is scheduled in 2020. The project can also be brought to a closure when either of the parties breaches the contract. The third reason for the closure can be when either of t he parties feels frustrated with the project. Conclusion The East West Link Project is very ambitious, and upon its completion, it will help improve the infrastructure within the City of Melbourne. However, the project will cost the Victorian State Government a lot of money to complete. The government will need to spend about eight billion US dollars to bring the project to completion. The project will take about six years, starting from 2014 until 2019 or 2020. For this project to be successful, all the project members must understand the requirements of the project at every stage. All the project members must actively participate in this project. List of References Bruce, A Langdon, K 2000, Project management, Dorling Kindersley, New York. Field, M Keller, L 1998, Project management, International Thomson Business Press, London. Haynes, M 2002, Project management: Practical tools for success, Crisp Learning, Menlo Park. Heldman, K 2011, Project management jumpstart, Wiley, Hobok en. Kerzner, H 2013, Project management: A systems approach to planning, scheduling, and controlling, John Wiley Sons, Hoboken. Kloppenborg, T 2009, Contemporary Project Management, South-Western, New York. Meredith, J 2012, Project management: A managerial approach, Wiley, Hoboken. Meredith, J Mantel, S 2012, Project management, Wiley, Hoboken. Nagarajan, K 2005, Project management, New Age International, New Delhi. Tonnquist, B 2009,Project management: A complete guide, Academica, Aarhus. This report on The East West link Project was written and submitted by user Punisher to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.