Essay: Project Management , Cost And Value Management

Sample Essay

This paper would analyze certain vital elements of these paper-including elements such as project uncertainty, risk management quality management, forecasting, budgeting, appraisal of the model, value analysis amongst some. Besides reviewing the project itself, this paper would also seek present a cross comparisons of the above elements between the Boeing case and a similar case study.

The project revolved around the production and the delivery of Boeing’s first ever 747 plane craft. The initial production itself required much speculation and hesitation on the behalf of the management as in order to meet the current demand certain significant changes has to be implanted-regarding the conversion of the model into a two person cockpit. Whether this was viable decision had to be considered amongst a number of factors and hence, there was a lot that had to be taken into account.

In order to launch this plane, it required upfront payment of $1.5 to $2 billion which in itself was a huge investment. A huge capital deployment and hence, making this one of the most risky industries to exist. Projects of this size could make use of large number of the company’s finances making things pretty difficult for Boeing if it did not go as planned.

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