Inferences And Implications. The Inferences, Implications

1181 WordsFeb 10, 20175 Pages
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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