Inferences And Implications. The Inferences, Implications

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Inferences and Implications. The inferences, implications and conclusions drawn from these secondary source key findings and the linkages between secondary source key findings and management concepts and theories were: • Cost Benefit Analysis. For an option to be a viable solution its benefits needed to convincingly outweigh its cost, best established by a cost benefit analysis. • Decision Matrix. A persuasive evaluation of plausible options is best undertaken by applying a paired comparisons table to prioritise selection attributes, followed by a decision matrix whereby viable options are each evaluated against weighted selection attributes to thus quantify the decision-making process and produce a documented record of how the decision…show more content…
If the result is a major change to the work, then a new baseline may be agreed against which future performance is then tracked. • Over Expenditure. Should over-expenditure threaten during the implementation of the project the following measures may help restore the situation: • Renegotiate budget, work scope and specifications. • Sell off excess inventory for cash injection. • Eliminate rework, wastage, theft, spoilage and scope creep. • Optimise schedule/budget since an ambitious schedule is usually expensive. • Shun perfection and extra checks, and settle for “good enough”. • Ensure all charges are accurate, legitimate and properly authorised. • Schedule Slippage. Should unacceptable schedule slippage occur during project implementation, the following measures may help keep the project on track: • Renegotiate finish date, work scope, and/or performance standards. • Apply the “minimum float” rule whereby we first accelerate critical tasks. • Redeploy resources to focus effort on critical and near-critical tasks. • Undertake more work concurrently (fast-tracking). • Work overtime and/or contract out work. • Risk Management. Risk Management must be a continuous activity throughout our project in order to prevent risks becoming issues. Thus, “risks” will be a topic at every meeting during project implementation. •
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