Read Case Study 3.1
The Keflavik Paper Company is a case with a problem in determining a project management process for new product development.
Answer the following questions:
• What does this case demonstrate about the effect of poor project screening methods on a firm’s ability to manage projects effectively?
• How would project portfolio management help to improve the situation at Keflavik?
• If you think about it, all business problems are case studies. To effectively evaluate the situation, you must approach the problem in a methodological manner. A proven technique to do this is to do the following:
1. list the facts;
2. identify the issues;
3. based on the facts of the case and your knowledge, analyze the issues of the case;
4. prepare recommended solutions and their possible outcomes;
5. implement the optimal solution (not always the one with the best outcome, because the cost or other things could be impractical); and
6. monitor the implementation and outcomes.
