MGMT 404 Week 1 DQ 1 (Updated)

MGMT 404 Week 1 DQ 1 (Updated)

Read Case Study 3.1

The Keflavik Paper Company is a case with a problem in determining a project management process for new product development.

Answer the following questions:

• What does this case demonstrate about the effect of poor project screening methods on a firm’s ability to manage projects effectively?
• How would project portfolio management help to improve the situation at Keflavik?
• If you think about it, all business problems are case studies. To effectively evaluate the situation, you must approach the problem in a methodological manner. A proven technique to do this is to do the following:
  1. list the facts;
  2. identify the issues;
  3. based on the facts of the case and your knowledge, analyze the issues of the case;
  4. prepare recommended solutions and their possible outcomes;
  5. implement the optimal solution (not always the one with the best outcome, because the cost or other things could be impractical); and
  6. monitor the implementation and outcomes.

So when you read and prepare to respond to this case, please follow the above guidelines. I don’t necessarily expect you to perform Steps 4–6, but I do expect your response to be based on the facts and your knowledge. Remember—your first impressions may not be correct!