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Case on Corwin Corporation

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Case 1: Corwin Corporation

Table of Contents

Summary of Findings…………………………………………………………… 3
Background Information……………………………………………………….. 3
Problem Statement……………………………………………………………… 5
Analysis of Alternatives………………………………………………………… 5
Detailed Recommendations……………………………………………………. 6
Implementation and Evaluation……………………………………………….. 7
References……………………………………………………………………….. 9

Case 1: Corwin Corporation
Summary of findings
This case is about a reputed rubber component manufacturing company that has a conservative and risk-averse culture. But they accepted a project from their client, Peters Company without making a deep research as they don’t want to lose their relationship. This project was more than what the …show more content…

The first best alternative would be to stick to their organization’s policy. Joni Seeber in her article about project selection criteria mentioned “Quitting and quitting fast is often the best project selection practice” (Seeber, 2011). Corwin should have had the senior management involved in the decision making process as a part of their organization’s policy which might have led to dejecting Peters’ proposal. The second best alternative is to concentrate on the details of the project. Corwin should have not accepted a fixed-price contract as they were unfamiliar with that practice. In a fixed-price contract the risk factors are higher for vendors when they don’t have a precise project blueprint. A company generally accepts a fixed price contract only when it is absolutely certain of its outcomes, no relative risks are involved and the clauses of the contract are explicitly presented, thus having no room for surprises later. The third alternative is to have had an experienced and skillful person to be nominated as the project manager. If this was done, detailed research would have been made on the products used for the product with complete specifications. It would have not given the

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