A Study Of The Silver Fiddle Construction

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The Elite Eagles team cooperated on Assignment 5.3a to prepare a study of the Silver Fiddle Construction (SFC) case as shown on page 233-234 of the textbook (Larson and Gray, 2014). Starting from the project scope statement (created by the president of SFC), the team identified five potential risks and one opportunity as outcomes of the Czopek project. These results derive from team discussions of the case study, summarized below. Our analysis begins with (1) a review of the president’s project scope, followed by (2) our assessment of the possible risks and responses, (3) the corresponding scenarios of risk we identified, and, finally, (4) our view of the president’s best response to each of the risks.
Project Scope Review
Our team reviewed each section of the project scope as prepared by SFC’s president. The project requires building a high-quality, custom home for the Czopek family below a cost of $500,000. The president assured the Czopeks that the construction will take only five months from ground-breaking. However, to save money, the family will agree to a delay in the project.
Since SFC focuses on the custom home market in Grand Junction, Colorado, the Czopeks could specify certain features for their dream home. The requested features that the team thought the president should consider in terms of potential risk include the following deliverables:
• 2,500 sq. feet home with 3 bedrooms and 2.5 bathrooms;
• Garage to include space for 2 cars and a 28-ft Winnebago;
• High-efficiency gas furnace with a programmable thermostat;
• Builder installed range, oven, microwave, and dishwasher in the kitchen.

SFC’s standard requirements mandate adherence to the building codes applicable within the local seismic zone. Other standa...

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... this Czopek project can be completed on time and within the allocated budget. SFC already has a comprehensive scope statement in place for this project but must now focus on actions which will ensure long-term project success. Actions such as resource smoothing, risk analysis, contingency planning, phase gating, time phased budgeting, and identifying value-added tools to use in order to measure project success should be completed before beginning the project. In addition, though not discussed herein, the PMBOK Guide recommends regular risk reassessment and control of the change request process (2013). Finally, SFC should determine a meaningful means of identifying, collecting and cataloging lessons learned for future projects. This will help them develop and enhance their project management maturity through the use of relevant data for use in future projects.

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