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Woody 2000: Construction, Startup, and Control - Essay Example

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The Custom Woodworking Company, a small to medium sized firm engaged in custom furniture and cabinet making, is headquartered at Industrial Estates, Someplace, BC (Max’s Project Management Wisdom, n.d). …
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Woody 2000: Construction, Startup, and Control
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"Woody 2000: Construction, Startup, and Control"

Download file to see previous pages The company commenced its operations in 1954 and currently deals in furniture sub-contract works, supplying and installing counter-tops, cabinets, and other fixtures. This paper will critically analyze the ‘Project Woody 2000’, which was one of the remarkable steps of Woody in its business expansion strategies. Project Analysis From the case context, it is clear that Woody adopted a reimbursable contract for addressing the ‘Woody Project 2000’ (Max’s Project Management Wisdom, n.d). However, the contractor could not deliver original Woody 2000 project requirements. Although Woody’s management agreed to pay a total sum of $17 million, Expert Industrial Developers (EID) found this sum insufficient for completing the project successfully, and hence EID agreed to undertake the contract on a reimbursable basis. There were other contracting alternatives open to the organization, including lump sum, guaranteed maximum price, and unit cost contracts. Among these, lump sum contract was not suitable for Woody since the company was not ready to pay $20 million, which had been the cost estimated by the EID for the successful completion of the project. Here, the unit cost contract also could not be used, since it was not possible to calculate the total value of the contract on the basis of multiplication of identical units of work done by a fixed unit cost. Therefore, I strongly believe that the guaranteed maximum price contracting option would be best for the company to work on the project. The guaranteed maximum price contract can be considered as a combination of lump sum and cost plus fee contract. Under this contract, “the owner is protected by the guarantee of a maximum price and yet receives the benefit of any realized savings” (Jackson, 2010, p.113). While practicing this contracting option, it would be advisable for Woody to share any cost savings with the EID in order to foster the contractor to work as efficiently as possible. The diagram given below indicates the Woody’s current project organization chart. The chart clearly indicates that the project was performed on the responsibility of Woody’s VP financing and administration head, Spencer Moneysworth. However, he alone could not handle such a huge project, and hence he sought the assistance of Ian Leadbetter, an engineer skilled in programming semi-automatic manufacturing machinery. Evidently, Leadbetter should not have been left to run the project, because he had insufficient project management experience. If he possessed proper training, Leadbetter could develop better project management skills and thereby complete the project within stipulated time and cost frame. The project should have been properly communicated to production people, as they knew more about the actual needs of the concern. If Woody’s management had involved production people in the project, it would have been completed successfully. The project development manager should collect periodical information from production workers once the project is executed. A good baseline plan would have aided Woody to make up time. A good baseline plan would particularly set time frames for completing each chapter of the project and there would not be any delay in finishing different project phases (SCVF Project Management, 2012). Furthermore, a potential baseline plan would effectively distribute the project work among project team members, and hence each individual would get a clear view about his duties and responsibilities. The following responsibility chart would suggest some potential strategies for ensuring effective control over the project. According to this chart, the organization should not allow Leadbetter to run the project. Leadbetter must be ...Download file to see next pagesRead More
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