Franklin Electronics Case Study
The vice president (VP) fails to analyze the overrun properly. The predictable overrun should be (81+55+73+70)/ (74+52+68+60)*2.66-2.66=$272,283, which is 10.24% of the overall budget, as well as the schedule. Essentially the project is now 15.05% behind the schedule, which means roughly 2.7 month delay in total if the problem lasts. And he failed to take the project phases effect into consideration because these are very important for project managers. By thinking in each term of stages, we can make sure that the deliverables made at the finish of each phase meet their purpose, and that project team members or sub-teams are properly organized for the next stage or phase. We can recognize …show more content…
What should the project manager from Franklin say in his defense? It is obvious of the president’s reaction to give a warning to Franklin electronics to show an improvement from their 2 months of work or else they would look up for another way who could handle their projects better. As we can see clearly that there is certain amount of loss in every work package A, B, C and D. And his estimate of getting 500% of loss if they continue this for 1 year can be true. In this case, project manager of Franklin electronics has to look up in detail where he has went wrong and in this defense he could ask time to correct his mistake.
He should say that they have lack of involvement or experience on first earned value reports and going onward we will submit as per the agreement and we will improve on schedule variance slippage. He should say that he will also improve cost variance slippage which is increasing more than double. He should say that he will improve the time and cost of the project for the next coming months which can recover their loss. The project manager should say that there must be the problem with the accounting department or with the consulting department. There may be something like which they made the mistake in the status report which is provided to the Franklin Electronics. He should also say that there may be the mistake of the team members during the time of