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Sharp Printing, AG Read through the Sharp Printing, AG case found in chapter 5 of the textbook.

Sharp Printing, AG Read through the Sharp Printing, AG case found in chapter 5 of the textbook.

Sharp Printing, AGRead through the Sharp Printing, AG case found in chapter 5 of the textbook. This case refers to Lauren, an experienced employee who is assigned as the project manager to the project at hand. According to the WBS, the estimate on this project was increasingly over budget. In preparation for a meeting with stakeholders, Lauren brainstormed suggestions to resolve some of the estimates originally compiled.Decide what you would do if you were the project manager on this project. Identify which suggestions offered were supportive to the end result of the project.Answer the corresponding questions provided at the end of the case (500-750 words). Use references from the reading materials to support your response.APA format is not required, but solid academic writing is expected.CASESharp Printing, AGThree years ago the Sharp Printing (SP) strategic management group set a goal ofhaving a color laser printer available for the consumer and small business marketfor less than $200. A few months later the senior management met off-site todiscuss the new product. The results of this meeting were a set of general technicalspecifications along with major deliverables, a product launch date, and a costestimate based on prior experience.Shortly afterward, a meeting was arranged for middle management explainingthe project goals, major responsibilities, the project start date, and importance ofmeeting the product launch date within the cost estimate. Members of all departmentsinvolved attended the meeting. Excitement was high. Although everyonesaw the risks as high, the promised rewards for the company and the personnelwere emblazoned in their minds. A few participants questioned the legitimacy ofthe project duration and cost estimates. A couple of R&D people were worriedabout the technology required to produce the high-quality product for less than$200. But given the excitement of the moment, everyone agreed the project wasworth doing and doable. The color laser printer project was to have the highestproject priority in the company.Lauren was selected to be the project manager. She had 15 years of experience inprinter design and manufacture, which included successful management of severalprojects related to printers for commercial markets. Since she was one of thoseuncomfortable with the project cost and time estimates, she felt getting goodbottom-up time and cost estimates for the deliverables was her first concern. Shequickly had a meeting with the significant stakeholders to create a WBS identifyingthe work packages and organizational unit responsible for implementing the workpackages. Lauren stressed she wanted time and cost estimates from those who woulddo the work or were the most knowledgeable, if possible. Getting estimates frommore than one source was encouraged. Estimates were due in two weeks.The compiled estimates were placed in the WBS/OBS. The corresponding costestimate seemed to be in error. The cost estimate was $1,250,000 over the seniormanagement estimate; this represents about a 20 percent overrun! The timeestimate from the developed project network was only four months over the topmanagement time estimate. Another meeting was scheduled with the significant stakeholders to check the estimates and to brainstorm for alternative solutions;the cost and time estimates appeared to be reasonable. Some of the suggestionsfor the brainstorming session are listed below. Change scope. Outsource technology design. Use the priority matrix (found in Chapter 4) to get top management to clarifytheir priorities. Partner with another organization or build a research consortium to sharecosts and to share the newly developed technology and production methods. Cancel the project. Commission a break-even study for the laser printer.Very little in the way of concrete savings was identified, although there wasconsensus that time could be compressed to the market launch date, but atadditional costs.Lauren met with the marketing (Connor), production (Kim), and design (Gage)managers who yielded some ideas for cutting costs, but nothing significant enoughto have a large impact. Gage remarked, ‘I wouldn’t want to be the one to deliverthe message to top management that their cost estimate is $1,250,000 off! Goodluck, Lauren.’1. At this point, what would you do if you were the project manager?2. Was top management acting correctly in developing an estimate?3. What estimating techniques should be used for a mission critical project suchas this?

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