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You are the project manager for a new multi-million dollar building renovation for your organization. The company needs to maximize the space that they have and the best approach is to do a staggered build out in order to better maximize the space in the existing building. You feel that the best approach was to negotiate with multiple contractors on a fixed price contract. Different contractors discussed other contracts with you, particularly ones to address the current market fluxuations in the raw materials market. You ignore those other companies and settle on an agreement with a local company, who is willing to accept your terms for a fixed price contract. You find out that a few weeks into a four month project that raw materials have increased by 250%. The contractor meets with you to discuss a price increase for the project. You have already committed a fixed price to the company and there is no contingency in the budget. The contractor advises that he will go bankrupt if he is forced to finish the project at this price and so the contractor sends you notification that they are stopping work on the project. Word of the work stoppage flies through your company and your boss calls you to his office for an update. You explain what has happened but he feels that you are responsible for allowing this to get to this point. You are told by your boss to work something out with the contractor and to go into the negotiation with a good plan on how to mitigate the costs. Upon reflection of this situation, consider the below questions and how might this situation been different with a different contract approach
The Bryant Museum is open 360 days per year. On average, they sell 3 hounds tooth hats per day. Each hat sells for $16. The museum%u2019s holding cost is $1 / hat / month. Each ord
Suppose you are the manager of an accounts receivable unit in a large company. You are switching to a new system of billing and record-keeping and need to train your three supervis
Ask question #Minimum 100 wo.evolution of manufacturing to operation managmentrds accepted#
Discounts Wholesale Club has two service desks, one at each entrance of the store. Customers arrive at each service desk at an average of one every six minutes. The service time at
David Upton is president of Upton Manufacturing, a producer of Go-Kart tires. Upton makes 1,000 tires per day with the following resources: Labor: 400 hours per day @ $12.50 per ho
I want help on writing a problem statement for my project...
what are the wastes and how to overcome them in an organisation?
1. Compensation systems vary from company to company, but tend to be similar in design and overall cost within a specific industry. Why would you think this is so? 2. Why is a well
Explain the objectives of work study for any management. The objectives of work study for any management are:- a) Enhanced working processes and standard procedures. b) L
Base on the case study: Weldon Hand Tools; Design a layout for the assembly operation (to include the fly press work) including the tasks to be performed at each part of the system
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