Project management can be defined as "a carefully planned and organized effort to accomplish a specific (and usually) one-time effort," (Free Management Library) It is important the project is completed in time as otherwise there will be additional costs incurred…
Therefore the project manager is always confronted with the situation of finding a better tradeoff between the reduction of the project duration and the additional cost involved in the reduction of duration and the decision to reduce depends on his ability to withstand the pressure for the early completion of the project.
While the fact remains that the duration of the project is fixed at the conceptual stage of the project, it does not take into account the detailed scheduling of all the activities involved in the project. This practice of fixing the duration without detailed scheduling often leads to higher cost of completion of the project than estimated. In addition to the higher costs there is always the potential danger of the quality of the project getting deteriorated due to the rushing of various activities. This problem is often encountered in construction projects where there will be disputes on the delay in the completion as well as the low quality of construction.
Another area where the crashing of the project duration is important is the development of new product that needs to be brought to the market before the competitor does to take the first mover advantages. It may be noted that in these cases the market determines the duration of the project for the development and introduction of the product. For instance the chance that the firms using moderate to high technology may lose up to 30 percent of the market share with a delay of six months is a factor that drives such firms to crash their new product development project to be completed within or before the stipulated period. Under those circumstances the firms do not mind the additional costs being incurred in the completion of the project than budgeted as otherwise there is the likelihood they may loose a sizeable market share. With this background this paper presents a report on ways and means for the reduction of the duration of the Whitbread Sail Boat Project which involves the design and construction of a sail boat for the Sail Boat team of the company 'Whitbread' and the training of the crew so that the sail boat constructed could take part in the World Sail Boat Race.
Bjorn Ericksen Project Strategy Analysis
The project relates to the design and construction of a sail boat and training of crew to
enable them to take part in the Whitbread Sail Board Race. The boat race is being conducted every year with countries entering their sail boats in the nine-month Round the World Whitbread Sailboat Race. During the recent races about 14 countries from different parts of the world have entered their sailboats in the race. The sailboard entries for the consecutive years represent the addition of latest technologies and improved human skills over the last year to prove the excellence of technical and human skills in the construction of the sail boat as well as the training of the people involved.
Bjorn Ericksen being recognised as the best designer of racing sailboats has taken over as the project in-charge for the designing, building, testing, and training of the crew for the next year's entry of a sail boat representing his country. Bjorn Ericksen assumes the role of the team loader has picked up a chief design engineer and a master helmsman to assist him in getting the sailboard ready for the ...
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