Unit III Project
MBA 6961, Project Mgt
July 24, 2015
Professor Robert Goldwasser
Columbia Southern University
Part 1 – Case Study 3.1 “Keflavik Paper Company”
Q1. Screening techniques are an important asset to any organization. They generate useful information for project choices in a timely and useful fashion at an acceptable cost. Also, screening techniques can serve as a valuable tool in helping an organization make optimal choices among numerous alternatives (Pinto, 2010, p 74). In the case of Keflavif, the exclusive method was causing projects to fail due to schedule overuns, the use of unlearned technology and lack of experienced technicians, poor estimates of product cost and unclear priority of beneficial projects. Any process can lead to negative outputs weather the method chosen is excessive or exclusive. Excessive methods can become damaging to a company of all the resources are tied in too oveer anaylzing and any projects are completed. There needs to be a finite plan established through policy that are profitablt but as Klefavik, consulting firm explained, profitable and managable through all areanas. An exclusive method as shown can be damaging because all aspects of the project have to be considered for optimization. The assignments can be to broad, responsibilities are unclear, no set authority and no mechanism for proper feedback. In order for companies to avoid profit lost they need to implement the proper selection methods, focus on the finite span and have resources available for short run projects as well as long running projects.
Q2. Project potfolio management is the process that companies use for managing their projects. It entails the decision making, priortizing, reviews, realignment and repriortizing the firm’s projects (Pinto, 2010, p 92). Some keys to success include a flexible structure and freedom of communication. Klefavik could initiatie some team building exercises and role...