Get a Free E-Book! ($50 Value)
HIRE A WRITER!
Paper Types
Disciplines
Get a Free E-Book! ($50 Value)

Davis’2005 Article “the Petroleum Engineering Economics Evaluation Software Imperative”, Case Study Example

Pages: 1

Words: 408

Case Study

Based on the analysis of the case study written by Davis, “2005”, there were three concerns regarding the project management triangle: scope, cost and schedule.  First, the scope of the project in the case study mentioned above initially seemed like an excellent idea.  For instance, the owner and the Board were agreeing on the third model presented at their board meeting which used a three dimensional software reservoir package that predicts the flow of oil and gas at the wellhead, as well as forecasts revenues and profits.  This model seemed key for the success and streamlining of their business; however, as soon as the meeting was over, concerns began to arise, such as the necessary staff, time and cost of it would take to ensure a quality final project.  The entire scope of the project was therefore a concern.  The second concern deals with cost.  The large software project would cost a great deal of money and considering the company is small, this is a risk the company is taking by investing money into a new software program.  In addition, there is the need to hire new staff since the current staff is not capable or educated for the particular field in regard to engineering software.  Furthermore, in hiring the staff, the company is taking a hit with the deal made with the engineer programmer they hired.  They agreed to share the rights of the new system with the engineer programmer consultant, which prevents the company from being able to sell the new software elsewhere. The third concern deals with the schedule of the project. Since the software is huge project, the risk of it not being completed in time also risks the competitive position of the company in the oil and gas industry.

There are risks associated with this project. In fact, it is possible to say that the project may become “troubled” in that the project is exceeding the acceptable levels of time, cost and scope. (ESI, 2006)  In order for the company to ensure their project will succeed, the project planning for the new software system should be critically evaluated in order to balance the project management triangle.

References

Davis, CK. (2005).  An Experimental Case Study in IT Project Management Planning: The

Petroleum Engineering Economics Evaluation Software Imperative.  Journal of Cases on Information Technology. Jan-March. 7(1):1-21.

ESI.  (2006).  Saving Troubled Projects. Five Steps to Rapid Recovery.  ESI International.  An

ESI International White Paper.  Retrieved on January 9, 2012 from: http://www.efcog.org/wg/pm/docs/PMWG_Wkshp_20071707/Saving%20Troubled%20Projects.pdf

Time is precious

Time is precious

don’t waste it!

Get instant essay
writing help!
Get instant essay writing help!
Plagiarism-free guarantee

Plagiarism-free
guarantee

Privacy guarantee

Privacy
guarantee

Secure checkout

Secure
checkout

Money back guarantee

Money back
guarantee

Related Case Study Samples & Examples

The Challenges of a New Ethical Space, Case Study Example

Abstract Social workers play a significant role in ensuring that the psychological needs of clients are met which improves the livelihood of the whole society [...]

Pages: 1

Words: 2523

Case Study

Chocolate Industry in Central Europe, Case Study Example

This case study will review the Central European chocolate industry.  The attention of the report was directed towards one of the Central European chocolate manufacturing [...]

Pages: 1

Words: 1355

Case Study

Augat Electronics, Case Study Example

Executive Summary The challenges facing the Canadian cable market are similar to growing pains. Canada has a problem with the manner the environmental humidity influences [...]

Pages: 1

Words: 1112

Case Study

The Rhino Sales Case, Case Study Example

The Rhino Sales Case: A Focus on Ethical Business Management Introduction The desire to save wildlife is considered as a worldwide goal that is pursued [...]

Pages: 1

Words: 972

Case Study

Sexual Disorders: Perspectives on Diagnosis and Treatment, Case Study Example

The interviewed patient’s name is changed for the sake of anonymity, and further on, the interviewee will be addressed as Julia.  Julia is 29 years [...]

Pages: 1

Words: 1700

Case Study

International Business Law and Its Environment, Case Study Example

The Ethical Dilemma The basic ethical dilemma found in the case of the unidentified firm (supposedly an import firm that buys goods from foreign markets) [...]

Pages: 1

Words: 1008

Case Study

The Challenges of a New Ethical Space, Case Study Example

Abstract Social workers play a significant role in ensuring that the psychological needs of clients are met which improves the livelihood of the whole society [...]

Pages: 1

Words: 2523

Case Study

Chocolate Industry in Central Europe, Case Study Example

This case study will review the Central European chocolate industry.  The attention of the report was directed towards one of the Central European chocolate manufacturing [...]

Pages: 1

Words: 1355

Case Study

Augat Electronics, Case Study Example

Executive Summary The challenges facing the Canadian cable market are similar to growing pains. Canada has a problem with the manner the environmental humidity influences [...]

Pages: 1

Words: 1112

Case Study

The Rhino Sales Case, Case Study Example

The Rhino Sales Case: A Focus on Ethical Business Management Introduction The desire to save wildlife is considered as a worldwide goal that is pursued [...]

Pages: 1

Words: 972

Case Study

Sexual Disorders: Perspectives on Diagnosis and Treatment, Case Study Example

The interviewed patient’s name is changed for the sake of anonymity, and further on, the interviewee will be addressed as Julia.  Julia is 29 years [...]

Pages: 1

Words: 1700

Case Study

International Business Law and Its Environment, Case Study Example

The Ethical Dilemma The basic ethical dilemma found in the case of the unidentified firm (supposedly an import firm that buys goods from foreign markets) [...]

Pages: 1

Words: 1008

Case Study

Get a Free E-Book ($50 in value)

Get a Free E-Book

How To Write The Best Essay Ever!

How To Write The Best Essay Ever!