Business Finance Homework Help

I am an who works closely with program analysts and project managers in my current job, so I am working on several big federal cost share projects. One of the projects that has a lot of tasks is the beach nourishments has a lot of tasks and dredging depths. The projects are projected to last for 50 years due to the erosion of the beach from being walked on and natural disasters from storms. We have several engineers that are working on these projects as well as funding from the states. With the different systems, we need input from engineers, contracting, division, local government, and program managers. Each project has three different phases which include feasibility, pre-design, and construction.

The breakdown for each project is for them to stay in compliance according to the cost share ratio for the federal government and the stakeholder. The ratios range from 50/50, 65/35, and 75/25. My task is to maintain the cost share and inform the project managers when this cost share has more than 3 percent difference ratio. We can not have more than 3 percent variance throughout the project from start to finish per the regulation. A 90-day review helps me stay on track of the 100 plus cost shares that I maintain.

Similar to project management, in procurement we had this a process called Decision Analysis review (DAR). And this process was utilized when there was a need for the company to invest in Information Technology. For instance, converting from perpetual licenses to a subscription models because the current solution became obsolete or too costly to maintenance. The structure of the team was made up of different functional departments. Members from Procurement, Software Engineering, Legal, Information Security, and Project Management would bring their expertise and skills to collaborate when choosing a product or service that best fits the needs company. The project manager would track the DAR review activities by using the Gantt concept and had interdependent activities with dynamic coordination. Since the ultimate outcome of the project was to make a purchase, procurements role was to be apart of each task to gather the right information needed to execute the contract. For example, using the appropiate language for contract terms. I don’t believe critical paths were used since it was recommended to start DAR projects one year prior to purchase date, this would give each functional role slack time while they conduct their day to day activities. If it was tracked, I would assume it would be used in “real time” when there was a potential risk of project delay.