September 2023 Business & Finance Assignment
Tarek Abdalah was an experienced project manager of small machine shop. He had always had complete authority when working with clients on specifications of the project team on the schedule. His boss, however, did not feel comfortable letting Tarek determine project budgets. The boss always did that himself.
A client approached Tarek about designing a piece or surgical equipment. Tarek was excited about this project because his usual job was to design and make part of the factory equipment. He was excited about the new job and he knew what the surgical tool was intended to do and had figured out what had to be done to design and manufacture it. He had even estimated the labour hour requirement. He wanted to do all the planning discussions with the client, including discussion on the budget.
What do you think Tarek should show to his boss, so that the boss would feel more comfortable letting him determine and monitor the project’s budget? What should Tarek say to persuade his boss?
Question 2 (15 marks)
The Chief Operating Officer of Beirut Airline, Karim Ajam was put in charge after the CEO unexpectedly resigned. Karim was named acting CEO and told by the airline’s board of directors that he would be considered for the position permanently if the next few months went smoothly. Karim was very nervous because he knew that the company was on the verge of financial troubles. He was not expecting to make profits that had been projected for the next few months. He knew the ticket selling was down due to recent unrest in the political situation in the city and nationally.
The resigned CEO had hired the consulting group to help identify the cost saving for the airline. The firm hired was unfamiliar to Karim, and there were rumours around the company that the lead consultant was a friend of the now resigned CEO.
THE Consulting group had been interviewing staff at the company for the last two weeks in order to prepare a proposal for work re-design to cut costs. Karim met with the consultants and they presented him with their proposal. The proposal outlined the cost of the consultants and the projected savings the company could expect after the consultant’s work was finished. Karim was now sure precisely how the savings were determined and what would be the redesign project specific deliverables.
What should Karim do next? What information he should ask the consultant for before accepting their proposal? What project planning tools would you suggest Karim ask the consultant to use to outline the project more specifically and address his concerns?