Individual Exercise

Select a recent major project you were extensively involved in, such as the selection of a college, the preparation of a resumé, an auto repair, home remodeling, planning a family trip with three small children, or landscaping. Review the tasks and the time it took to complete them. Construct a rate-of-progress chart

9. How might project management be used when doing a major schoolwork assignment?

10. Did the change in management style required by the Space Shuttle Program bring about any ethical dilemmas?

These were the data that she herself had used during her initial investigation. The project objective was to reduce lost sales to 0.5 percent within five years.

Question: Discuss Ms. Miller's approach to the problem and list the pros and cons.

Maladroit Machine Tool Company

The plant manager of the Maladroit Machine Tool Company must replace several of his milling machines that have become obsolete. He is about to take delivery of six machines at a total cost of $4 million. These machines must be installed and fully tested in time to be used on a new production line scheduled to begin operation in six months. Because this project is important, the plant manager would like to devote as much time as possible to the job, but he is currently handling several other projects. He thinks he has three basic choices: (I) He can handle the project informally out of his office; (2) he can assign the project to a member of his staff; or (3) the company that manufactures the machines is willing to handle the installation project for a fee close to what the installation would cost Maladroit.

Questions: Which of the three choices do you recommend, and why? If the project was one small machine at a total cost of $4,000, would your answer be different? Discuss the relative importance of the capital investment required versus the role of the investment in machinery.

and a distribution-of-effort chart similar to those in Figures 1-2 and 1-3. Also recall the initial estimates of either cost or performance and time to completion, and the variability of these estimates, to construct a chart similar to Figure 1-4. Plot the final actual values on the chart and describe the reason for the variance.

22 CHAPTER 1 / PROJECTS IN CONTEMPORARY ORGANIZATIONS

How accurate are these charts, in general? Do they picture adequately the concepts they are meant to describe? Archibald |2] portrays the target cost and time (Fig. 1-4) as an ellipse, rather than a band, that continually shrinks as the project nears completion. Is this a better portrayal? How would performance variability then be handled?

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Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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