2:51 AM PROJECT MANAGEMENT CASE STUDIES Chance of a Lifetime BACKGROUND Sometime

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2:51 AM PROJECT MANAGEMENT CASE STUDIES Chance of a Lifetime BACKGROUND Sometimes in life opportunities come up for project managers, and they must evaluate the risks and the rewards. This case involves an experienced project manager with a well-secured position in a large company who was given the opportunity to join a start-up company. Unfortunately, although some of the critical decisions were his hands, they had a serious effect on his future and career SIGNS OF A POOR ECONOMY Jason was a high school science teacher who liked to dabble in the small laboratory in the basement of his home. For two years, Jason had been experimenting with the design of long-lasting batteries that could be used in battery-powered cars. Jason was successful in designing Loc 4187 of 18372 24%

Explanation / Answer

Solution:

1. Jason's thought of starting up a business is correct and he planned very well for the initial investment. Also he planned intelligently to re-pay his debt amount and the ownership terms also, he clearly implemented. But the main drawback of his business idea is that he did not plan much about the marketing area. He has not a clear idea of how he is going to sell his product and what are the ways to get new contracts or customers who get his products. Without planning this, he directly started his business. Without having a good number of customers, it is waste to manufacture any products. Jason didn't understand this basic concept. That's why his attempt to startup a new business failed. So instead of selling his entire company to a third party, he could think about partnership with that person to survive himself and to achieve his dream too.

2. Career risk is not advisable for those project managers who are in initial level of career and for those who are well securely placed in an organization. Those who are in the development phase can take this risk to grow-up in their career. Some project mangers take this kind risk while taking a new project which can lead to risk their career growth.

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