Estimating a Common Problem That Research Paper

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d.)

Cashman kept his cash flow chart a secret. Why, and what would you have done?

The reason that Cashman gave for keeping his information locked away was: because all of the expenses were accounted for on a real time basis. This meant that any kind of figures that Cashman has available are only accessible to him. In this case, the fact that he continued to keep these number secret, could help highlight how a lack of communication was apparent. As no one wanted to discuss various ways to keep costs as close to Woody's estimate as possible. This would help to establish a culture of secrecy and divisiveness. Over the course of time, this would have a negative effect upon the company, by allowing various challenges to be ignored. Once this took place, it meant that the low cost estimates would no longer be realistic. At which point, a number of different cost over runs would become increasingly common. Instead, the various facts and figures for the project should have been readily available to everyone. This includes Leadbetter and Faster who decided it was time to go on vacation during the project design stage. Where, the information they possessed would cause a delay of two weeks. In this situation, the communication issues should have been addressed immediately. The reason why is because the lack of communication and secrecy, would create confusion about the project / areas of responsibility. This would contribute directly to the cost overruns. If this kind of behavior does not stop, then individuals who continue to engage in activates that contribute to cost overruns should be fired (such as Ledbetter and Faster going on vacation for two weeks).

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The fact that their personal lives caused a delay shows, that they have no interest in the project or staying within the budgetary guidelines. As a result, any individual who engages in such actions in the future should face the possibility of dismissal. ("Project Management Case Study," n.d.)

Clearly, the biggest issues that contributed to the problems for Woody's company were: a lack of communication and secrecy. These two elements would help to create a divisive atmosphere inside the business. As no one felt a sense of urgency or responsibility for what is occurring. To rectify the situation, the company should inform everyone that hording any kind of project information is not acceptable and will not be tolerated in the future. As it causes cost overruns and slows the completion of the new addition to the plant. If these individuals continue to engage in the same kind of behavior they should be subject to: dismissal or removal from the project (as they are contributing to the problem). This will create a change in the atmosphere of the work environment. At which point, everyone will begin to take a different focus on maintaining the budgetary guidelines and working together. This will reduce the possible delays and will keep the cost of the project in line with the various budgetary projections......

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