Project Cost Management
ASSIGNMENT 1 Case Study &Questions on the Big Dig project (2 page paper)
Overview
This assignment is worth 50 points toward your final grade. For this assignment, you must view some videos and read a case study on the Big Dig a huge infrastructure project that is infamous for going over budget and missing target dates. Your two – page paper is due at the end of Week Five.
Requirements
Read the attached article from “Ask” magazine
View the Boston’s Big Dig Megastructure videos (1, 2, and 3)
o NG Boston’s Big Dig 1 Megastructures
https://www.youtube.com/watch?v=0f95n9otA0g
o NG Boston’s Big Dig 2 Megastructures
https://www.youtube.com/watch?v=RDe8HdSE2Io
o NG Boston’s Big Dig 3 Megastructures
https://www.youtube.com/watch?v=IfydRsjBaHo
Then, answer the questions below.
1. In Week One, we defined Project Success as completing within budget, completing on time, delivering required functionality, and satisfying customer requirements. Based on this, would you say that the overall Big Dig project was as failure or a success? Why?
2. As you watch the videos, you get a pretty clear picture of this truly massive project. What are FOUR key lessons learned that you take away from this case study? Explain.
3. What happened to the project in 2006? What serious challenges did the project face? How were these challenges overcome?
ASSIGNMENT 2 – READING MATERIAL (1 page paper)
Write a one-page paper sharing your thoughts, reactions, observations and general questions regarding this week’s lecture here. I encourage you to post your reactions and engage your peers in conversation in these weekly discussion forums. Participation in these forums will contribute to your overall participation points.
ASSIGNMENT 3 – When is too much too much? (1 page paper)
One of the most difficult decisions for any leader is to decide when to cut losses and abandon an effort. An effective project framework should include a decision point at the end of each phase allowing the project sponsor the opportunity to decide whether or not to continue the project. This is especially important when a project faces significant cost overruns.
Write a one-page paper sharing your thoughts on how a project sponsor should arrive at a decision to abandon a project that is facing serious cost overruns. When is too much too much? At what point does one decide to just give up and stop a project? Must some projects continue NO MATTER WHAT the cost?
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