Case studies are an important learning strategy in business classes as they provide an opportunity for you to critically analyze events that have taken place in real-life businesses. This develops your critical thinking and research skills as you research the competition and industry in which your business resides with an end goal of formulating a recommendation for the challenges faced by the company.
Read the “Franklin Electronics” case study on pages 545–546 of your textbook. As you complete the analysis, address the topics below.
- Explain the earned value measurement system and whether you believe that Franklin Electronics truly understands it.
- Analyze the cost projections completed by Franklin Electronics. Reconstruct the cost projections toward the compilation of a realistic project budget. Include a theoretical discussion around the steps involved in the budget that you built.
- Create a project management schedule that would be more effective than the one proposed in the case. Use scheduling techniques learned in this class to date. Include an assessment of why you selected this scheduling technique instead of others.
- Evaluate sources of project risk, and develop strategies that would decrease the impact of these risks.
In formatting your case analysis, do not use the question-and-answer format; instead, use an essay format with subheadings. Your APA-formatted case study should be a minimum of two full pages in length (not counting the title and reference pages). You are required to use a minimum of three academic sources that are no more than 5 years old (one may be your textbook). All sources used, including the textbook, must be referenced; paraphrased material must have accompanying in-text citations. A minimum of three in-text citations are required.
Understandably, cost control is important to all companies, no matter their size. Share a company or experience you have been involved with that involved cost control measures. Look at it holistically as well as from a short-term perspective. Respond to several of your fellow students’ experiences.