Ask Operation Management Expert

Assume that you are the project manager for the construction of 10 conference facilities in your organization’s building in Florida. A statement of work has been given to you, and contracts have already been awarded. The project will require you to do the following for one of the conference facilities:

Install new electrical outlets and light fixtures: ABC Electrical Company (fixed price contract $20,500, week 1). Install multimedia capability: Sound Masters, Inc. (fixed price contract $40,000, week 1 and $23,300, week 4). Finish walls and apply custom paint color—Ocean Blue #4495: K&G Painters (cost reimbursable contract $24,990, week 2). Install carpeting (color # 9984) and window shades (color # 5574): Best Flooring and Windows (fixed price contract $46,340, half in week 2 and half in week 3). Install new furniture to match wall color (#4495), including 20 custom-made tables and 80 extra plush ergonomic chairs with wheels: Custom Furniture Experts, LLC (cost reimbursable contract $87,300, one quarter in week 1 and balance in week 4). Artwork showing the best features of your organization’s products. This artwork and framing has not been purchased yet. Complete inspection and acceptance within one month.

After you finished building your baseline budget for the conference facility project, you need to plan how you want to manage your budget. That includes writing a cost management plan, which provides the report formats, variance reporting thresholds, and other pertinent information to your project team. This plan will help you maintain a firm control of the project costs and provide valuable communication to your team regarding your plans to manage costs. In conjunction with the cost management plan, you need a plan to manage changes to the project. Think about how you will control changes in terms of cost, schedule, scope, and quality as various changes come up throughout the lifecycle of your project. Changes can come in any form: management redirection, resolving problems, or changing the scope of the project. Consider the following additional information for your project: Your vendor contracts require weekly and monthly reporting of actual costs. Your management would like you to measure your project performance using earned value management. You will need to report your financial status to your boss each week. (hint: cost management plan item) You know from past experience that Custom Furniture Experts will have to redo part of their work. Since their contract is cost reimbursable, you are at risk of being charged for this additional labor. (hint: cost management plan item) History tells you that your management may make changes to the statement of work after you have begun the project. You want to make sure that you control all changes to the statement of work for all of the vendors. (hint: configuration control item) Create a cost management and a change or configuration management plan for your project.

Answer the following questions after you have completed developing the two project plans:

1. How did you account for the project risks in the cost management plan?

2. Did you include a requirement for EVM for your contractors? Why or why not?

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M91701187

Have any Question?


Related Questions in Operation Management

Conflictdefine functional versus dysfunctional conflict in

Conflict Define functional versus dysfunctional conflict in a work group and explain how you can increase functional conflict and decrease dysfunctional conflict. Develop a response that includes examples and evidence to ...

For this assignment you will need to find 2 articles in

For this assignment, you will need to find 2 articles in business that can help describe what are IT strategic initiative being undertaken by an organization are like. Choose a different organization for each of the arti ...

Coping with problems joe is a little nervous he has just

Coping With Problems Joe is a little nervous. He has just been transferred from another plant to take over a production line. Production is down and there is a serious problem with absenteeism. To make matters worse, the ...

Over 30 years ago michael porter identified a holistic

Over 30 years ago Michael Porter identified a holistic approach to understanding how competitive forces shape strategy. He posited that the only way to truly insulate an organization from underlying economic volatility i ...

You are the contracting officer for an air-to-ground

You are the contracting officer for an air-to-ground missile development program. A contract for pre-production models of the missile was awarded by your predecessor and the contractor is behind schedule. In a program me ...

The ikea case provides an excellent opportunity to apply

The IKEA case provides an excellent opportunity to apply strategic management concepts to a large privately-held company that is expanding into India. IKEA is a Netherlands-based Swedish company with a presence in 44 cou ...

Can you answer for me the following questions about social

Can you answer for me the following questions about social loafing and the three main causes of free-riding. 1. Give a description of the phenomenon of social loafing. 2. Give a description of the phenomenon of free-ridi ...

1 analyzing the bridgestonefirestone and ford motor company

1. Analyzing the Bridgestone/Firestone and Ford motor company, is it sufficient to use the ISO/QS 9000 standards as the main basis of vendor/product selection? 2. What position to these cars company ( 1. Volkswagen, 2. F ...

Research the effect of primary and secondary seat belt laws

Research the effect of primary and secondary seat belt laws on the occurrence of motor-vehicle injuries and fatalities. Explain how epidemiologic studies influenced the development of current seat belt laws. Describe how ...

Please provide a brief paragrap of the key takaways from

Please provide a brief paragrap of the key takaways from each of the following topics: Designing Clear Visuals in business reports Designing Successful Documents and Websites Writing Winning Proposals

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As