By Frederick L. Harrison, Dennis Lock
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Extra info for Advanced Project Management: A Structured Approach
Eds) (1995), Gower Handbook ofpurchasing Management, 2nd edn, Aldershot: Gower. T. (2000). Don't Park Your Brain Outside, Newtown Square, PA: Project Management Institute. M. (1988),Juran on Planning for Quality, New York: Free Press. R. Purchasing and Supply Management, Maidenhead: McGraw-Hill. Lock, D. (2003),ProjectManagement, 8th edn, Aldershot: Gower. Oakland, J. (1993), Total Quality Management, 2nd edn, Oxford: Butterworth-Heinemann. Stevens, M. ) (2002), Project Management Pathways, High Wycombe: The Association for Project Management.
Consider, for instance, a company compelled to spend £500000 on building improvements ordered by the local authority for reasons of health and safety or fire regulations. Although that project must be carried out for no direct financial return, failure to authorize the work could result in successful legal action to close the company down. So, a project feasibility study is a mix of careful investigation and definition, consideration of different strategic options, risk appraisal and, usually, an appraisal of the financial outcome.
An example is a manufacturer of special purchase heavy machine tools, built specifically for the customer to use in high-volume machining of a particular component. If the component is, for instance, an automobile engine cylinder block, the machine will carry out all milling, drilling, boring, reaming, tapping and probing operations to convert the raw casting into an accurately machined component. Concurrent engineering in this case would mean that the machine tool designers work with the customer's engineers to arrive at a solution in which the machine design and component design are developed together, to achieve best machining reliability and accuracy for minimum component cost.
Advanced Project Management: A Structured Approach by Frederick L. Harrison, Dennis Lock