| The Woodworking Company Essay
The Woodworking Company is a medium size furniture-manufacturing outlet. The Woodworking project was initiated in 1954. As the case reflects, the company has gained reputation for its quality designs. The company made much progress and now focuses on supplying | products based on |er orders.
As the years moved, the outlet continued to prosper. The group’s carpenters are a composition of a loyal workforce that has contributed greatly towards the attainment of its success. The snapping up of John Carpenter is testament of the level of attraction that the company has on upcoming qualified personnel. The company has registered consistent mark-ups. In addition, the Woody has diversified its business as it also deals in subcontracting. In brief, up to this time, the company has established a good reputation in the business of construction and the supply of millwork.
The total costs of the project were estimated at around seventeen million dollars. However, the renovation costs were not included in this figure. The company committed seventeen million to the project. The sum was absolute and the completion time was set at eighteen months from the start up period. In order to generate ownership among employees, the company proposed the name of the project to be Woody 2000.
The planning of the project aimed at meeting timelines (Anbari, 2003). The person in charge was intent on utilizing his administrative abilities to achieve this end. Moneysworth chose Expert Industrial Developers (EID) to work on the project based on experience. In the views off the person in charge, the choice was made based on costs. The company developed monthly cash flow charts to ensure easy follow up of projects. One million was also set aside for contingencies. In addition, all actual costs were recorded. Upon the insistence of Moneysworth EID submitted a quotation whose price was fixed. The quotation was 20 million US dollars. Apart from usurping the set costs, the group could also require two more months to complete the project.
The planners of the project allowed for uncertainties. On further negotiations, it was agreed that the project be undertaken although EID could be reimbursed. Woody’s plans should include costs, milestones, deadlines, measures/ controls, approaches, etc. having such aspects in a plan is critical since they show details regarding what the company wants to achieve at a certain cost as well as by a given time. The approach to contracting entails cost cutting measures. Although the company gives priority to quality, the focus appears to rest on cost controls. Woody’s plans for managing the project are relatively convincing. On the one hand, the act of keeping records is commendable (Dale, van der Wieke and van Iwaarden, 2007). However, although it is sound to fix a price several questions emerge. For instance, when running a project, it is necessary to allow a room for changes or flexibility. What I would have done is to draw a project plan after consulting with various firms, which are offering all the services that the company requires. However, I would do this after establishing all the requirements of the company and the appropriate timelines. Since project implementation phases present different challenges, I will closely monitor progress and introduce changes based on how the process pans out.
Ideally, each project plan should explain how a project factors changes that occur. In my assessment, the Woody company plan does not reflect how project changes would be addressed. However, based on the outcome of the first stalemate, re-negotiation appears to be the strategy that the company is using. Similarly, issues bordering on quality are crucial in any project implementation process. The failure by Leadbetter to invoke specifications may be premised on the notion that when entering a contract, quality is an implied term that contracting parties presume to exist. The importance of quality to a project cannot be overemphasized. Any time a company setup a project, the primary goal is to enhance productivity. Thus, quality is a primary attribute that project planners rank highly.
The project concept of Woody was based on an agreement that an additional capacity to produce was necessary. Specifically, the company would require an additional twenty-five percent expansion on the existing floor cover. At the same time, installing dust free paint and air conditioning facilities to complete the new compressor was deemed necessary. Furthermore, a semi-conductor production train was to be set up. This required both a semi-conductor production train. The renovation of the executive vice president and the president’s offices was also long overdue.
In brief, the milestones include
dust free paint
air conditioning facilities
a semi-conductor production train
a semi-conductor production train
renovation of the executive vice president and the president’s offices
In brief, the milestones include
A baseline is necessary before commencing any meaningful project. A baseline shows the state of affairs in terms of progress or decline. Thus, it allows stakeholders to understand what needs to be corrected. Thus, project planners find baselines a necessary tool that they use to evaluate whether they have achieved or failed in their pursuit of goals. A float on the critical path should be managed based on the expectations of the company. This may help the company in achieving its goals although the planners must be realistic. Cost estimation is equally critical in any project. Below is a guess estimation of the milestones that the company is pursuing.
dust free paint – 1 million
air conditioning facilities 2 million
a semi-conductor production train 4 million
a semi-conductor production train – 5 million
renovation of the executive vice president and the president’s offices – 6 million
Ideally, the estimation is supposed to be broken down into subtitles showing how each item is to be sourced and at what price. Life cycle costing is an option that presents all estimations from commencement to project completion. Presenting the cost estimation using the approach is preferable since stakeholders are able to assess the potential costs of projects. Thus, life cost estimation is a factor in the project.
Keeping the cash flow secret is an option that is used in order to conceal information from unintended parties. Since this is a big project, I would not have kept the information secret. In the proposed project, the option of subcontracting is open. Alternatively, the partnering option could be available. Subcontracting would have been used since such could help in mitigating the cost question. The contract should be organized in accordance with the rules and regulations that guide contracting and tendering. Similarly, administration should follow laid down procedures in addition to the initial agreement. The initial project requirements could not have been delivered given that the company did not allocate enough funds for the exercise. For instance, funds were not allocated for office renovation.
Friginti and Comminos (2002) observe that the principle of best practice reveals that pursuing success requires using the best approach. Thus, employing techniques or methods that lead to greater outcomes forms the benchmark in project management. However, best practices evolve to become better. Bettering best practices requires improvements to the existing approaches.
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