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You are the project manager for a new multi-million dollar building renovation for your organization. The company needs to maximize the space that they have and the best approach is to do a staggered build out in order to better maximize the space in the existing building. You feel that the best approach was to negotiate with multiple contractors on a fixed price contract. Different contractors discussed other contracts with you, particularly ones to address the current market fluxuations in the raw materials market. You ignore those other companies and settle on an agreement with a local company, who is willing to accept your terms for a fixed price contract. You find out that a few weeks into a four month project that raw materials have increased by 250%. The contractor meets with you to discuss a price increase for the project. You have already committed a fixed price to the company and there is no contingency in the budget. The contractor advises that he will go bankrupt if he is forced to finish the project at this price and so the contractor sends you notification that they are stopping work on the project. Word of the work stoppage flies through your company and your boss calls you to his office for an update. You explain what has happened but he feels that you are responsible for allowing this to get to this point. You are told by your boss to work something out with the contractor and to go into the negotiation with a good plan on how to mitigate the costs. Upon reflection of this situation, consider the below questions and how might this situation been different with a different contract approach.
If the advertising company wants a 90% confidence interval estimate with a margin of error of ±$2,500, what sample size is needed if the population standard deviation is known to be $27,500?
An engineer at the Metal works is considering the introduction of a new line of products. In order to produce the new line, the company needs either a major or minor renovation of the current platn
Discuss the building blocks of competitive advantage and the role a manager should play in achieving this advantage.
Why are mission and vision relevant to the management of internal organizational social networks? What performance standards might reinforce a firm's mission and vision?
Some Americans feel strongly that our private enterprise, entrepreneurial model of medicine serves us best in this country and that we should limit government involvement wherever possible
Prices apply inclusively to all units bought. What is the optimum purchase order size that should be placed, and what is the total cost?
The last event, although forecasted to have 1,000 participants, resulted in the attendance of only 950 participants. Illustrate what are the utilization and efficiency of the conference facility.
The Ace Manufacturing Company produces two lines of its product, the super and the regular. Resource requirements for production are given in the table
Calculate the minimum replenishment time to build 2500 Model A fountains given the following beginning inventories?
What programs does GMC Company have for the less advantage and children? What grade would you give this program and why?
The Northside and Southside facilities of Zeron Industries supply three firms (Zrox, Hewes, Rockrite) with customized shelving for its offices.
What are the economic and social consequences of prohibiting the replacement of economic strikers?
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