Essay on Case Study: 'A Systematic Approach to Project Termination’

Lockheed Martin Corporation relies heavily on defense contracts from the U.S. Government. In fact, 84 percent of the company's net sales were made through being a prime contractor or subcontractor for the U.S. Government. These sales come from both the Department of Defense (DoD) and non-DoD agencies. The next largest area of revenue is from foreign governments that make up 15 percent of net sales. The remaining net sales come from commercial or other customer sales. A slow economy could cause decline or reprioritization of funding for the U.S. defense budget. This is also true for

According to the Project Management Institute (2013), plan procurement management is the process of documenting project procurement decisions, specifying the approach, and identifying potential sellers. This step helps the organization determine whether or not they should acquire outside support. If done correctly this step should help the organization know exactly what they need to acquire, how to acquire the appropriate services or products and finally how much it will cost the organization. For example, in the above case study Providian Trust has determine that they would benefit from an outside vendor, they have also decided to go with the Access Plus software to help them achieve their goals. Additionally, they have determined the price and timeframe; the project was to last for 20 months and cost $18

Choosing the most suitable procurement method for the specified construction project is a long term hard decision; it is a

The major purpose of the Project Closure Report is to inform the stakeholders as to why the project is closing; is it complete or not; has the budget been expended; did it fail or was it terminated for other reasons? The closure report can efficiently cover the information that is pertinent to the Project Sponsor and the Project Manager without being long and drawn out with excessive details.

The paper is divided into three sections, the first of which will establish a timeline of events. This project background will serve as a case study for the analysis in the following section that will be structured such that each of the previously mentioned facets will be independently analyzed and contrasted with project management principles. Finally the paper will conclude with a summary of the analysis and recommendations based on

This paper includes a description of the procurement planning process. The most valuable output of the plan procurement process will be identified. Furthermore, the various contract types will be explained. A source criterion that would be applicable to any project will be described and three criteria that would apply to most projects will be identified. An analysis of the ethical

The mission of Project Completed Abandonment is to give a forgotten community access to recovery tools that can help them reach their full potential. This organization, core mission to combat the disease of alcoholism and drug addiction by proving around the clock services.

The realistic comparison that connects to monopolistic and oligopolistic structure of defense contractors resulting in reason for shutdown for cost efficient purposes rather than competition (Hayden et al., 2010). This cost efficient purpose then turns to intergroup relations between Congress, the President and the leading large-scale power-bloc defense contractors while during government shutdown continued to run while other DOD agencies suffered from furlough (Brass, 2014; Hayden et al., 2010; McPhail, 1991; Sy (2013). In perspective, the top five defense contractors awarded DOD contracts for year 2007 were Lockheed Martin Corporation - $27B, Boeing Company - $22B, Northrop Grumman - $14B, General Dynamics - $14B, and Raytheon - $11B respectfully (Hayden et al., 2010). Based on McPhail (1991), individual-group discontinuity is explicit contrast between intergroup relations, where Brass (2014) and Sy (2013) debated on intergroup relations distinction between government shutdown and debt limit impasse. According to Brass (2014), government shutdown is the lack of group performance, intergroup relations, and communication

The most valuable output of the Plan Procurement Process is the Procurement Management Plan. As is the case with almost every aspect of the project management process, it is essential and imperative that the project management team implement an effective and concise plan when it comes to the various components of procurement throughout the project’s life cycle. Specifically speaking, the procurement management plan refers to the plan that has been put into place that is meant to dictate and describe the entirety of the procurement process and how it is means to relate to and with the developing procurement documentation, and how contract closure will relate to all. The procurement management plan should be implemented and developed as early in the project life cycle as possible to assure that the procurement process is consistent throughout, however, in some cases the plan may be altered once the project begins, particularly if budgetary reasons dictate.

2. Every year the Department of Defense (DoD) sets up a budget for the military. The budget can be lower than what the military needs to be able to do their mission. The Fiscal Year (FY) 2016 budget of the DoD was made to maintain a mission ready force focused on institutional reforms that control costs and support a highly trained workforce while taking care of service members and their families.1 The DoD seeks to progress toward achieving full spectrum combat readiness.2 However, the sharp defense cuts are harming the ability of our Armed Forces to execute their assigned missions.3 The strategy

On Monday, 24 February 2014, Secretary of Defense Chuck Hagel announced massive cuts to the size of the armed services, slashing the army to its pre-World War II size. (breithbart.com) Hagel’s plan called for a 25% reduction in manpower by 2019. Historically, these cuts equate to a perceived failure of will power of the American government by its global enemies. Such cuts are sure to decrease the readiness posture of fighting units across the military. First order effects from cuts to funding equate to poorly maintained equipment, reduced personnel readiness, as well as fewer opportunities for professional military educational type schools. Second order effects include gaps in the NCO and officer corps due to lack of funds to send

Project management provides reasonable scientific solutions in order to overcome difficulties and achieve success. Each project has a variety of objectives have to achieve, these objectives are vary and can be for organization objectives or for social objectives. However, the project objectives could face some obstacles could be lead to limited success. The attempt to discover the factors of project success and project failure was not easy task for both scholars and expertise. These definitions can provide a close understanding and explanation for these terms. Many project management literatures have variety definitions of project success. (Adinyira, 2012) pointed out that Pinto and Slevin (1988) defined the success as delivering projects on proper time, cost and quality. Others like westerveld, elizabith have different ideas regarding the success that are related to the judge of stakeholders and organizational management. However, nowadays success become more complex issue to determine, it is not only meeting the costs and time it is belonging to the typology and sector of the project

Performance reviews are intended to encourage changes in behavior, encourage career development, and support continuous organizational learning. These reviews focus on social and technical contributions the individual contributed to the project team. For example, the 360-degree feedback process has been used successfully to improve the ability of people to work on teams. As long as performance reviews are not directly related to pay and promotion decisions, such reviews are more readily accepted and even perceived as positive for the individual and organization.Since pay reviews can result in negative or positive outcomes for a career, they are perceived as very serious by most individuals. Pay reviews should be more carefully structured and based on clear standards and criteria known to the person being evaluated. Every attempt should be made to avoid confrontation. 4. Advocates of retrospective methodology claim there are distinguishing characteristics that increase its value over past lessons learned methods. What are they? How does each characteristic enhance project closure and review? * Uses an independent facilitator. The facilitator is held responsible for identifying and implementing lessons learned. Independence encourages gaining more information from stakeholders. * Includes a minimum of three in-process learning gates during the life project cycle. These gates catch problems and success

Procurement intends to explore supply market opportunities and to implement resourcing strategies that deliver the best possible supply outcome to the organization, its stakeholders and clients (Kidd, 2005). Therefore, construction procurement exists to purchase a construction project as requirement of firms or organizational entities to achieve its goals. However, the choice to use external resources is the part of firms’ decision-making

This type of procurement strategy is a ‘fast track’ strategy. Client pays a sum of money to hire a management contractor to manage the whole construction project. Therefore, some early work can be carried out before the design is complete. The contract for the construction projects are between the management contractor and sub contractor. The final cost for the project can not be identified until the final work has been awarded.