A small technology consulting company, specializing in developing manufacturing software for the home construction industry, secured a large contract a year ago to develop a software for designing and manufacturing roof truss. The development contract was for two years, and the maintenance contract was for five years. As part of the contract, the client included a 0.8 percent penalty per month for each additional month beyond the development contract end date of the software development project. Project progress reports indicate that the software development project is about 60 percent complete, seems to be encountering various problems, and it is behind schedule. The consequence of this is that the company could potentially lose money if the 0.8 percent performance penalty is invoked. The managing partner, in charge of the project, was able to trace some of the problems to poor quality control, not enough experienced software engineers, and unnecessary testing of incomplete software codes. Although you are not the project manager for this project, but because of your experience, the managing partner in charge of the project has directed you to develop a better system of project control for the software development project. Discuss how you plan to complete this task.
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
A small technology consulting company, specializing in developing manufacturing software for the home construction industry, secured a large contract a year ago to develop a software for designing and manufacturing roof truss. The development contract was for two years, and the maintenance contract was for five years. As part of the contract, the client included a 0.8 percent penalty per month for each additional month beyond the development contract end date of the software development project. Project progress reports indicate that the software development project is about 60 percent complete, seems to be encountering various problems, and it is behind
Although you are not the project manager for this project, but because of your experience, the managing partner in charge of the project has directed you to develop a better system of project control for the software development project. Discuss how you plan to complete this task.
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