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programs and budgeting

1 What are three factors that are essential to consider in prioritizing programs or projects .Three important factors to consider prioritizing programs are Mission Factor Process Factor Implementation factor 2 Identify projects that have failed to obtain budgeting funding within the last 6 mo . and what are the reasons for the lack of approval . What information or activities could be suggested to get funding for the identified project ?German Bayerische Motoren Werke (BMW ) an automotiver industry producing passenger cars and luxury cars . They had different projects for introducing their cars globally in Asia , UK , and Australia . However , the financial input of the project was quite expensive . Managing global financial risks is the major task when company starts operating business in international market . Though the company took several steps but their project to introduce their cars globally was not approved to get enough budget to carry on with the project Reasons of failure :BMW took various valid decisions to manage its financial risks . It first opted to open its new plant in a location where its operating cost will be low while more chances to generate profits . It opted to open new plants in America , Mexico . Where it hoped that its production costs will be reduced and it courld coverup its loses in Germany . However , the operating cost came out to be very high and business ran in failure . It thought to diversify its production by expanding its business to other countries which reduced its financial burden on one country . It also sufferred loss from exchange rate variation in different countries . It would decrease its production where exchange rates decline and decrease exports where exchange rates rise .BMW also opted to work jointly with others to bring a change . Because opening and investing a new plant at various locations to globalize business incurs additional costs for building , workforce and machinery .But in joint venture cost is reduced to less than half when two or more companies work in collaboration . In that case , they seek joint venture with already established business and ultimately setup cost will be reduced while both will share profits .BMW also acquired mergers and acquisitions . It acquired already established business of British automaker Rover in 1 .2 billion deal .However , its production cost was too high and resultantly its share in market of British car company declined .Its another step was product source and input mix . For supplies of automotive parts , BMW purchased parts from North America . BMW started buying automotive parts and supplies from S .C . factory which was offering it supplies at reasonable rates . These supplies were then imported to Germany where supplies production cost was much higher . The parts that it purchased were defective and some did not work at all .BMW also worked on to improve its production and bring new pricing strategies to make their cars more competitive . BMW started offering various models of the car and with varying facilities . They have reduced the time period of production but doubled the models . It…

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