Maximum Megahertz Project

Order Description

Read the Case, “Maximum Megahertz Project”, on page 536 in the text. Give Olaf a plan of action for the future that attacks the problem. Be specific and provide examples that relate to Wireless Telecom Company. Please submit your answers in a Microsoft Word document.

Olaf, the CEO of Wireless Telecom Company, has quite the situation on his hands. The Maximum Megahertz Project has fallen behind schedule and the project team is now asking for more money, as well as a six-month extension for the project. He is faced with the decision to invest more money into the struggling project or terminate the project and save face. If not handled properly he could lose talented employees and also have yet another unfinished project on his hands. Now, this is not the first time Olaf has encountered this situation. Within the past five years there were three other projects that failed to see completion. The high costs of these unfinished projects and the lack of results are unnecessary and avoidable. In order to address these reoccurring issues, the company needs to develop a plan of action for the future that will allow them to better stay within their budget and allotted time constraints.

Before the plan is mapped out, we need to examine several issues that Olaf has identified:

 

• We need to develop a process that will monitor the project and alert us earlier on when a project begins to lag behind significantly.
• In the future, how will we terminate the project prematurely without discouraging or embarrassing the project manager and team involved?
• We need to be able to manage the costs of projects and keep them within our budget.
• We need to more effectively manage the use of our resources.
• We must stay within our allotted timeframe and meet project schedule deadlines (Gray 530).

 

Now that Olaf has identified the major issues with the company needs to focus on he can begin to develop a strategic plan to help ensure future project success. In order to implement this strategy he must establish the structure of the project monitoring information system. The first thing he will need to do will be to perform some research and collect data regarding the issues from previous projects, especially the one in question. The textbook has provided us with some useful examples of data seeking questions that apply to this case:

Please highlight your use of relevant chapter concepts in bold or italic type.

Reference.
Larson, E. W., & Gray, C. F. (2011). Project management: The managerial process.