Project Management Practices : Corwin Corporation Failed

1379 WordsDec 22, 20146 Pages
Project management practices are establish to ensure the smooth running of the project. In our case study we will identify the individual practices that Corwin Corporation failed to adopt during its project with Peters Company and eventually led to project failure. 1. Project/Task Identification: In order for a project to be fully accomplished, the first most important priority is to identify and understand the task involving the entire project. The task identification involves setting out clearly the objectives and goal targets of the project with both client and contractors coming into a vivid conclusion. This will help identify the respective responsibilities of both parties even before the commencement of the entire project. In…show more content…
3. Finance/Cost Estimation Finance a project is very crucial in the life cycle of the project. Good cost estimation or budgeting is the first call of importance after successful project task identification. Budgeting involves having information on customer’s cost and properly allocating how individual expenditure will fit into that cost. It’s is very important not to under or over budget the project as it can risk the continuity of the project. Where and when to get sponsors to finance the project and the type of contract deals is also important at this stage. Cost control measures are essential for organisation to effectively work within their estimation. In Corwin project; the ideal of purchasing the entire project material during the testing phase was bad forecasting and resulted in the poor management of financial resources. 4. Resources Resources for a project comprises of establishing good human skills, proper material acquisition and finance sponsors. Successful project management, in spite of organization structure is as good as the individuals who manage the project. If a project falls in the hands of a poor manager/s like in the Corwin project case, then it’s a major problem of concern. Although Dan West was a great worker in the corporation, he displayed very poor managerial

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