Initiating the Project

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Question 1 Reflect on the assigned readings for the week (chapter 13,14,15). Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding.

Also, provide a graduate-level response to each of the following questions:

  • Your company is hoping to outsource some of its work constructing a new development of condominiums. What would you use as selection criteria to narrow down your list of potential sellers?
  • Give specific examples of risks on a project that are within the team’s control, partially within the team’s control, and outside the team’s control. Tell how you would deal with each.
  • Give two examples of why a project might be terminated early for cause and two examples of why a project might be terminated early for convenience.
  • The sponsor of a large multi-phased project you are managing suddenly decides to terminate the project early. How do you respond? How and when do you notify your team members?

Question 2

For the Business Case project provided, identify the different types of contracts that are available for supply chain management. For each of the six (6) contract types below provide a description of each contract type (based on the weekly readings and material from the textbook) and then identify where each of the contracts could be utilized within your project. These need to be specific examples and explain why the specific contract type would be ideal for these supplies (goods or services).

Fixed-Price Contracts

Firm-Fixed-Price (FFP) Contract:

Fixed-Price-Incentive-Fee (FPIF) Contract:

Fixed-Price-Economic-Price-Adjustment (FP-EPA) Contract:

Cost-Reimbursable Contracts

Cost-Plus-Fixed Fee (CPFF) Contract:

Cost-Plus-Award-Fee (CPAF) Contract:

Cost-Plus-Incentive Fee (CPIF) Contract:

Provide a detailed analysis of the current progress of cost and schedule for an on-going project (format below) including the Variances, Indexes and Estimates for the project to provide a comprehensive report on the project. The comprehensive report should explain how the results are calculated, what the results mean, and what specific action steps should or need be taken to bring the project back within scope. Definitions must cite Kloppenborg textbook.

Planned Value (PV)

Earned Value (EV)

Actual Cost (AC)

Budget at Completion (BAC)

Schedule Variance (SV)

Cost Variance (CV)

Schedule Performance Index (SPI)

Cost Performance Index (CPI)

Estimate to Completed (ETC Method 1)

Estimate to Complete (ETC Method 2)

Estimate at Completion (EAC)

To-complete Performance Index (TCPI)

Comprehensive Situational Analysis:

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