Communication There Are a Number of Factors

Communication

There are a number of factors Nick needs to consider for the project to be a success. First, he needs to understand what the project is, and what the expectations for the project are. These need to be specific, so that they can be actionable and so that Nick can be evaluated properly. Nick will need to understand the industry and project management process well in order to translate the desired specs into a set of actions and resource allocations that will deliver positive results. Internal resources, external environmental conditions, time frames, specs, budgets -- there are an almost untold number of individual factors that need to be taken into consideration.

The planning meeting here is in incomprehensible debacle. There is no focus and no specificity. Now, this is done in media res so we'll assume that everybody knows each other and their roles, and that the project has been introduced a little bit. First, nobody is really in charge in this meeting. Elizabeth says "this is my company" but nothing else, so an empty and vaguely threatening statement. That's not leadership. There's no clear explanation of what the project is, what the objectives are, the time frame, the budget or anything else we might need. The roles are not clear to the outside observer, which tells me that at the very least Warren has not done a good job of driving conversation. He should be saying things that make roles clear, like "

Nick, work with Gail about the budget for the project and Maria ensure that you make a programmer and a designer free for a 4-6-week period to work on this." That type of specificity establishes clear goals for each person so that they understand their responsibilities. Instead we get vagaries like "I want a full implementation of online gaming."

Another issue is making sure that everybody understands their roles. The exchange between Nick and Warren a tire fire. "You got it?" "I got it." "I hear you." "All right." "All right." I imagine this conversation occurring with everybody staring at their phones doing something else. Nobody is genuinely engaged in this conversation. At no point do I feel confident that Warren and Nick are even remotely on the same page. And then after some random non-sequiturs we have the exchange between Debbie and Nick which adds an element of Debbie giving Nick grief unduly for not already having an implementation plan. Taken out of context, this exchange mixes a lack of clarity with obnoxiousness. Clearly nothing positive is going to come out of the exchange. Warren allows things to go off the rails here. And at no point is there any support from Elizabeth. So we have a lack of leadership, and the entire discussion needs to be re-done, with specificity and focus.

c. Good point. There's no question here, but that is a good point that everybody should bring sufficient and pertinent information to the meeting, including past performance indicators.

2. a. There are no figures provided on the costs. The meeting notes do not even explain what the project is. We justify their implementation through a cost-benefit analysis of which there are many types. A net present value calculation based on gathering the best information possible and making reasonable assumptions is probably the best approach here, as there are likely to be multiple competing projects and any mutual exclusivity will require a proper capital budgeting analysis to determine the best project for the company.

b. We conduct a cost/benefit analysis to ensure that the project is going to add value to the company. Managers act as agents for the owners with the objective of maximizing wealth. This type of analysis, as noted, is useful because there might be multiple mutually exclusive projects. Thus, the company needs to know which projects add the most value for the firm. Indeed, even where there is only one project, the firm will need to ensure that the project is going to generate a positive return on invested capital in order to justify pursuing the project (Pavey, 2014).