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Discussion (Analysis of Case study)
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AbstractExecutive Summary (5)
The Altex corporation is a company which is dealing with US army to forge highly developed weapon system. In this case, the Altex company have managed to win a contract from the US army. (include R&D) They were very optimistic about the project, and the management of Altex company was thinking that they would manage to manufacture the new technology and are prepared to do planning for managing risk in the project. The process of analyzing the risk of a project, which requires input from the final user of the project. (REF) The customer has the right to expect a strategy for management of risk by the manufacturer and has the right to force the manufacturer to develop a risk management plan. The Altec corporation should involve the project manager right from the starting of whole process, which was lacking in the said case, and should make sure that they develop a proper risk management plan to make sure that the project related costs are kept under control and the project is completed under time, even under adverse condition.
The Altex corporation was a company, which was supplying war related material to the USA
Army during WWII. It was the period, when the US army was facing a number of problem (wanted to be superior) and they were awarding the military contracts to a number of contractors, who were even down to the 4TH of 5TH number in the list of suitable contractors. Due to this fact, a number of companies like Altex corporation were making use of situation, and earning contracts without any effort and proper plans, and many of those companies even did not possess the capability to fulfil the requirements of the contract and they were planning to comply only at a level of 60-7-% of total e=requirements. Altex corporation had devised any risk management for anything, which might go wring in any stage of the project. The assessment of risk is a necessity for any sort of businesses. If a company does not appreciate the risks associated with a project or anything, then the company is putting themselves and their customers in a great danger. The companies have to look at all the activities that may have the potential to create any harmful or dangerous situation. The risk management plan is a part of the legal requirements in a number of projects these days. The aim of a risk management plan is to minimize the associated risks as much as possible.
ANLAYSIS OF THE CASE STUDY
Identify the ethical issues that arise in this case study. (5)
Identify the potential consequences to the stakeholders of accepting this aggressive bid and risks involved in this project. (6)
Identify the potential breaches of the Project Management Institute (PMI) ethical standards by the Project team. Examine the PMI code of ethics and identify requirements that are relevant to this case study. (8)
Identify the potential consequences of implementing the project without a risk management plan. (5)
Based on the case study, at which point of the project life cycle should the risk management plan be prepared
The project manager is attempting to resolve the ethical dilemma that they have. Having completed your ethical analysis, how do you recommend they should proceed?