Case Study 3.1 Keflavik Paper Company

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Keflavik Paper is an organization that has lately been facing serious problems with the results of its projects. Specifically, the company’s project development record has been spotty: While some projects have been delivered on time, others have been late. Budgets are routinely overrun, and product performance has been inconsistent, with the results of some projects yielding good returns and others losing money. They have hired a consultant to investigate some of the principal causes that are underlying these problems, and he believes that the primary problem is not how project are run but how they are selected in the first place. Specifically, there is little attention paid to the need to consider strategic fit and portfolio management in selecting new projects. This case is intended to get students thinking of alternative screening measures that could potentially be used when deciding whether or not to invest in a new project.

Questions

Keflavik Paper presents a good example of the dangers of excessive reliance on one screening technique (in this case, discounted cash flow). How might
Assume that you are responsible for maintaining Keflavik’s project portfolio. Name some key criteria that should be used in evaluating all new projects before they are added to the current portfolio.
What does this case demonstrate about the effect of poor project screening methods on a firm’s ability to manage its projects effectively?
Case Study 4.1—In Search of Effective Project Managers

This case involves Pureswing Golf, and illustrates the problems when organizations attempt to locate competent project managers without any systematic plan for identifying and training good potential candidates. They are discovering that the “voluntary approach,” whereby new project managers are solicited seemingly at random from around the company, simply does not work. Many of these individuals likely do not have the skills or a reasonable understanding of what it takes to manage projects effectively.

Questions

Imagine you are a human resources professional at Pureswing who has been assigned to develop a program for recruiting new project managers. Design a job description for the position.
What qualities and personal characteristics support a higher likelihood of success as a project manager?
What qualities and personal characteristics would make it difficult to be a successful project manager?

Sample Solution

In spite of the possible motivation and challenges, Rome did see benefits from expansion. The most obvious benefit was the accumulation of large amounts of territory, increasing the reach of Roman power, taxation, and cultural influence. Expansion also lead to infrastructural innovation such as the implementation of a new sewer system and an aqueduct that allowed for the actual city itself to expand and for the quality of life to improve for all classes. By the time of the second century Rome was accumulating massive wealth through taxation and resources from the territories they acquired. This lead to the creation of a new bourgeoisie upper middle class called the equestrians; wealth and property were now no longer exclusively reserved for only the aristocracy and nobility. This new class, as well as the honor and fame associated with successful soldiers in war allowed for mobility between classes that was not commonly seen before. This mobility also allowed for equestrians to become publicans, a political position in which they are responsible for managing a province within the Roman Empire. Class mobility is significant because it creates a better standard of life for citizens of Rome and gave rise to many prominent political figures such as Cato the Elder who were able to rise from a lower class. This mobility was often due to military success, creating a larger and lengthier reward to being apart of the military. As discussed previously, the army held many severe consequences for those who failed or betrayed them, but equally grand rewards for those who are successful. Polybius writes, “For the rest of their lives, the men who were saved revere their rescuers like fathers and feel obliged to serve them in every way, as a son would a father. These incentives inspire not only those present in the ranks but also those back home to strive to outdo each other on the battlefield.” (Polybius 377) This passage indicates the social reward such as fame and glory, as well as the tangible rewards such as weaponry and wealth that awaited soldiers that were successful. Men like Cato the Elder were able to use this fame and success from the military to become politic

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