Question

what were the major mistakes made by corwin

Answer 1

                                    Corwin corporation is an internationally known reputed manufacturer of low-cost and high-quality rubber products. With a product-marketing strategy, they belong to a group of non-project driven company. It has a conservative and risk averse management style with a stringent management policy. The Peters company is a major problematic customer for the Corwin corporation and the various mistakes that have been done by the firm are given as follows

· The primary mistake was made with regard to the project selection process wherein there was a deviation from the standard risk-averse strategy of the firm and the specifications were incomplete with a short bid preparation time.

· The engagement had a fixed-price contract and absence of key decision makers

· The five-year profit sharing allowed affected the company’s decision-making potential in a negative manner.

· Although fixed-price contract was made, the Peters corporation was not confident of the requirements and strategy for meeting the requirements which led to a failure of strategy.

· With incomplete specifications, Corwin had to suffer from negative effects on the cost analysis.

· There were also failures in leadership management with the appointment of incompetent project manager for the firm.

                                    Based on the above discussion and analysis, it is evident that most of the factors that caused the termination in the project were caused by variations from the management principles of the firm and the internal inefficiencies of the project management.