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Project Management Risk Assessment
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.
Discuss the following questions.•Do you feel that the contract type selected was incorrect?•What kind of abuses did you identify?•What kind of positive or negative incentive could have improved this situation?
Calculate the operating leverage for the electric scooter project assuming unit sales are 100,000 (see Section 10 - 2).
Is cost often a function of the market requirements and can high quality is achieved at any cost point? Why or why not?
Create a table that shows the different elements that are found in an internal proposal and an external proposal for this training.
Consider an office environment with which you are familiar. Over the past decade, what changes in the way the office operates (including communication, document preparation, and scheduling meetings)
Show the pros and cons of the checklist versus the weighted factor method of selecting projects - Important information about checklist versus the weighted factor method
Evaluate how thedifferent project interfaces (i.e., with rest of the organisation and with the outside world) are different when managing a virtual project team compared to managing a 'collocated' project team.
What are PM triple constraints assume you have just completed a project and met all project goals except cost
Critical analysis of a Project Management Plan
Verify the prospective partners capabilities and assess its strenths and weaknesses. adopt a code of conduct that will clarify the resonsibilities of each parner and the ethical behavior that will be expected for each partner
Provide your ideas on how the following information should or should not be shared by technical and non-technical staff: project plans, implementation plans, training plans support strategies.
What do you do? Was Joe's comment symptomatic of a larger problem within his group and was he simply exhausted from a tight deadline? Is my team's enthusiasm part of the problem? Or is this one of those squeaky wheel problems?
What is meant by project control? What are some tools and mechanisms that we can utilize to ensure projects are in control?
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