Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Operation Management Expert

You’re the project manager for the latest multi-million dollar building renovation for your organization. The company requires maximizing the space which they’ve and the best approach is to do a staggered build out so as to better maximize the space in the existing building. You experience that the best approach was to negotiate with numerous contractors on a fixed price contract. Dissimilar contractors discussed other contracts with you, particularly ones to address the current market fluxuations in raw materials market. You ignore those other companies and settle on the agreement with the local company, who is willing to admit your terms for a fixed price contract. You find that a few weeks in a four month project which raw materials have raised by 250%. The contractor meets with you to discuss the price increase for the project. You’ve already committed the fixed price to the company and there is no contingency in budget. The contractor advises that he will go bankrupt if he is forced to finish project at this price and so the contractor sends you notification that they’re stopping work on the project. Word of the work stoppage flies through your company and your boss calls you to his office for the update. You describe what has happened but he feels which you’re responsible for allowing this to get to this point. You’re told by your boss to work something out with the contractor and to go in the negotiation with the good plan on how to mitigate the costs. On reflection of this condition, consider the below problems and how might this condition been dissimilar with a dissimilar contract approach.

Operation Management, Management Studies

  • Category:- Operation Management
  • Reference No.:- M913882

Have any Question? 


Related Questions in Operation Management

Operations managementdevelop a systematic framework for

Operations Management Develop a systematic framework for analyzing the behavior of complex supply chain networks and supply chain drivers. warehouse manager thought a recent presentation on operations management was extr ...

1 discuss three different ways that information is encoded

1) Discuss three different ways that information is encoded in memory. Which of these three do you feel is the most relevant for safety training? Explain your choice. Your response must be at least 200 words. APA Format ...

What is global mindset how do you train global mindset what

What is global mindset? How do you train global mindset? (What language you use..etc) Please answer these questions.

2014 december 31 eddy earned net income of 80000 eddy paid

2014 December 31, Eddy earned net income of $800,00. Eddy paid $5000 to Gordon. Gordon has 10% of Eddy's common shares. What amount should be reported on Gordon's 2014 income statement for the dividends received from Edd ...

Happy valley land and snow company provides the following

Happy Valley Land and Snow Company provides the following ABC costing information: Activities                             Total Costs         Activity-cost drivers Labor hours                          $320,000           ...

Select an organization with which you are familiar and

Select an organization with which you are familiar and describe the type of compensation strategy it uses. Guided Response: Be sure your response is between 200-300 words and includes at least two scholarly references, o ...

Why is it important for organizations to think in terms of

Why is it important for organizations to think in terms of designing a mix of programs rather than choosing one overall compensation program? Give examples.

1 congratulations your company has purchased the rights to

1) Congratulations, your company has purchased the rights to manufacture a new product called Quilchers. As an experienced Operations Manager you quickly recognized that this product could be successfully assembled using ...

Discussionread case study 24the widgets lsquor us case

DISCUSSION Read Case Study 2.4 The Widgets ‘R Us case study is a case with a problem of how the company is set up and how the company will handle operations with its projected growth. Answer the following questions: • Yo ...

Please answer all of these questions based on the assigned

Please answer all of these questions based on the assigned readings and or your personal knowledge. 1- What is your small business or entrepreneurial idea? Why do you believe that this is a functional idea for a new busi ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen