MGMT 404 Week 1 DQ 1 (Updated)

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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.

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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!

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