PROJ 592

The estimated project completion date is TUE 11/13/13 with duration of 127 days. After leveling and re-allocating work along the project line, the project got delayed for 3 days so that the completion day moved up to FRI 11/21/13 (total duration of 130 days). (MS Project 2007)

Congratulations! You have just completed the project charter, scope statement, and WBS. Now that you know what needs to be done, as the Project Manager, you are now ready to begin planning your project.

The project manager is under budget but behind schedule. He/She should spend some of their savings getting more resources to put them back on schedule.

In this Business Report for Luna Park, the reader would become aware of the strengths and weaknesses of the amusement park, as well as opportunities for the feature and threats to the company.

We used PV (planned Value), AC (actual cost), and EV (earned value) to calculate SPI (schedule performance index), SV (schedule variance), CPI (cost performance index), and CV (cost variance). Among these indicators, SPI and SV show whether a project is behind schedule or not, and CPI and CV indicate whether a project is under budget. Therefore, the statuses of the schedule and cost of technical infrastructure, software customization, and combined projects can be easily and clearly checked, respectively.

‘’Cost performance on project s often poor, what are the possible causes of this and how can it be improved?’’

Over the years, Exquisite Entertainment has become an illustrious company all over the United States thanks to its 19 seasonal and year-round amusement parks, also known as Worlds of Play. Over the most recent periods, though, the company has faced different issues that have obstructed its profitability: increase in operating costs, stationary number of customers and thus stationary revenues, and decrease of profits. The annual management meeting that we recently had, pointed out the difficult situation that our company is living. Alex Harrington, a business strategy consultant from Ernst & Young LLP, gave us consultations on how we could face this set of problems.

As the last factor, poor third-party contractors could be the reason of the delay in the schedule. Due to low bid amount, many project faces poor selection of contractors and their staff with no technical capabilities to handle the projects which causes most likely cost overruns, poor quality and unacceptable final results, besides the schedule delays. To solve this problem, the project team should identify qualified contractors and make sure that all the staff in the site is competent and meets the requirements of the

The very first park, Disneyland, had start out over 60 years ago as an Apple Orchard, but when Walt look at it, he visioned a theme park where a family of all ages can come and enjoy time with each other and have fun. Construction for Disneyland had begun in July 21st of 1954, which was a meager 12 months before the park was scheduled to open. From that day forward, Walt’s life would never be the same again. Disneyland had then opened publicly on JUly 17th, 1957 Walt didn’t know if Disneyland would be a huge success so he didn’t used his infamous character, Mickey Mouse, as expected. But what are the odds, Disneyland had gotten more success than what Walt had ever expected. Disneyland was so successful, in fact, he wanted to expand the territory to Central Florida, where Walt Disney World would soon come to be.

In field of project management, there are a plethora of mechanisms under perpetual reevaluation. One specific segmentation of project management under such scrutiny pertains to cost duration, which is the time and monetary costs of completing individual tasks within the project’s critical path (IBM Knowledge Center, 2016). The process of monitoring and evaluating the time and financial impacts of each task is referred to as cost duration analysis (IBM Knowledge Center, 2016). A chief concern of cost duration analysis is identifying tasks within the project’s critical path which can reduce project duration (PMI, 2013). A common approach to reducing a project’s duration is task “crashing” (PMI, p.181). According to The Project Management Institute (2013) crashing refers to the process of methodical determining the financial value of increasing a critical path task’s resources in order to decrease project duration (p.181).

After Eisner invested tens of millions of dollars to update and expand attractions and park facilities, Disney recovered its investment with attendance-building strategies. By creating a range of complementary services and entertainment at the park, customers stayed longer and spent more money. A plan was also put in place to develop Disney’s unused acreage and further maximize the profitability of these assets. One result of the above measures was that attendance at Tokyo Disneyland increased by 50% from 10.2m in 1983 to 15.8m in 1991.

Cost variance is calculated by subtracting budgeted cost for work performed from actual cost for work performed and schedule variance is calculated by subtracting budgeted cost for work scheduled from budgeted cost for work performed. The vice president’s analysis that the project’s costs are overrun is correct and it appears they are also behind schedule. I would agree with the vice president’s analysis that improvements need to be done to keep the cost and schedule under control.

I believe that Wild Water’s should get some form of a loan or credit in order to re-invent their amusement park. They should do some research on what other up-and-coming amusement parks are doing. They should find a way to incorporate the things people look forward to in amusement parks and what they have seen loyal customers gravitate towards the most. In getting a business consultant instead of meetings with employees they can gain perspective from a professional outside source. I believe that they should make their park bigger if at all possible. This will allow them to keep the integrity of the old amusement park with additives that new residents appreciate as well. They will have to add a better restaurant and things for a person with a higher quality of taste. I believe that the business consultant will help them through the stages of decision making to come up with some solid solutions.

Project B was to migrate the source control software from SC to LN throughout the IT department.

Schedule delays are always a possibility regardless of the size, scope or complexity of the project . The two most common reasons for schedule delays are level of efforts of the resources and uncertainties associated with the project. However, the manner in which the delays are handled is what makes a project a success or a failure. In this particular case study, Sarah was able to competently anticipate the possible risks with this project. But there was a lack of proper planning to handle these risks. Few questions come to mind while looking at this case study.