Bid clerk, construction management and related information.
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Cost of capital comes from either cost of debt or cost of equity.
It is important to know your cost of capital so that you can compare it to the rate of return of your business or project. The rate of return of your business or project should be equal to or higher than your cost of capital; so that your business or project can break-even or earn a profit.
If the capital used for your business comes from borrowing from the bank at, say, 5% interest rate, then your cost of capital is 5%. If the capital used for your business comes from the personal investment of your friend Harry who expects a 10% return on equity, then your cost of capital is 10%. Simple!
The problem is this: What if… the capital of your business comes from a combination of both borrowing from the bank and the personal investment of your friend Harry? What will be your cost of capital now? Will it be 5% (same as the bank’s interest rate) or will it be 10% (same as Harry’s expected return)?
I’m sure you can already see that logically, your cost of capital would be something in between 5% and 10%!
So, what number exactly? Obviously, you cannot simply guess it. You need a formula which will give you the exact percentage in between 5% and 10%. This is where the Weighted Average Cost of Capital Equation or WACC Formula comes in. It simply and easily gives you the exact % of your cost of capital after taking into consideration a) the cost of debt, b) the cost of equity, c) the proportion (or “weight”) of your capital which is from debt, d) the proportion (or “weight”) of your capital which is from equity, and e) the corporate tax rate in your country.
When the WACC formula plugs these things all together, it will give you the percentage number in between 5% and 10% that you’re looking for… and you’ll know your “exact” cost of capital based on the different proportions or “weights” of how much of your capital comes from either debt or equity. Simplified, the formula looks like this:
WACC = (Debt Proportion)(Cost of Debt %)(1 – tax rate %) + (Equity Proportion)(Cost of Equity %)
People who find it difficult to use formulas from mere written representations may easily see how they are applied step-by-step “in action” on various online tutoring video websites and sites like YouTube. However, for business owners and general managers, knowing the step-by-step calculation may not be necessary because of today’s multitude of free online calculators on the internet as well as calculator functions on modern scientific calculators or even smartphone apps; which allow users to automatically and instantly find results with the push of a button.
Duration : 0:9:50
http://www.projectmanagementdocumentation.com is great resource on earth for Project Managers to meet with project or to deal with project toward success.
Numerous projects never even get past the detailed planning phase and the main reason for this is because they have not been defined and scoped properly and as a result there is no buy-in into the project or sponsorship is lacking.
Following the following six steps to initiate your projects quickly and efficiently, should ensure that they get the correct buy-in and sponsorship from senior management, which will ensure their survival.
Step 1: Create a detailed business case.
This must be done in conjunction with the business owner and must be detailed enough for everyone to exactly know what the business requirement is. This document will become the foundation of the project and must be approved by the project sponsor.
Step 2: Do a Feasibility Study.
Undertake a feasibility study based on the business case to determine the different solutions for the business requirement. Based on the business case and feasibility study a preferred solution must then be determined.
Step 3: Create the Project Charter.
The Project Charter is a very important document as this will combine information from the business case and feasibility study to describe the new project and its vision, objectives, scope, deliverables, project team and a high level project and implementation plan. The same goes for the Project Charter as for the Business Case in that it must be approved and signed by the project sponsor, as this will be one of the official documents for your project.
Step 4: Define your Project Team.
Now that the project charter has been defined, you can now define the team based on this information. Here the Board or Steering Committee must be assembled and a Project Manager must be assigned. It is then the responsibility of the Project Manager to recruit the rest of the Project Team. Depending on the size of the project, the Project Manager can also only recruit Team Leaders, who then in turn will recruit the members of these sub teams. Ensure that there is a defined and documented project job description for every member of the team, so that everyone understands exactly what their individual roles would be.
Step 5: Setting Up a Project Office.
Once you know who will be on the project team, the next step is to create a physical environment from where the project will be managed for the duration of the project. This must provide all the premises, tools, material and equipment for every team member and it is best to create a detailed checklist to ensure that nothing is missed when setting up the project office.
Step 6: Review the Initiation Phase.
Once you have gone through the creation of your business case, done a feasibility study, created the project charter, established the team and have set up the project office, it is necessary to review this phase in order to ensure nothing was missed and that you get approval from all stakeholders that the initiation phase is complete and you are now ready to move on to the next phase of your project namely the Planning phase.
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Charles Feeney, a billionaire, recently gave 600 million dollars to Cornell University. Ana Kasparian and Cenk Uygur discuss Charles’ donation and lifestyle.
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Hessert construction companies – What our customers say
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