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Financial Management Improvement Proposal

In: Business and Management

Submitted By trbrown1023
Words 3691
Pages 15
SITUATIONAL SUMMARY 1
FINANCIAL MONITORING ISSUES AND OBJECTIVES 2
INEXPERIENCED PROJECT MANAGERS 2
WORK BREAKDOWN STRUCTURE DECOMPOSITION 4
LEVEL OF EFFORT ESTIMATES 6
INDIRECT COSTS 8
EARLY PROJECT MONITORING 9
WHY NOT EARNED VALUE MANAGEMENT 10
CONCLUSION 12
REFERENCES 13

Company Information
Type of Company
Enterprise Communications is a department within Consolidated Services Inc., a federal government agency that provides a variety of communication services. Their mission is to facilitate the timely and cost effective delivery of high quality information and ensuring that this information is readily available to citizens via the internet and social media. They are also responsible for researching, testing and implementation of improved electronic communication across the department and other federal agencies. It is comprised of various federal agencies across the United States and abroad that depend on their services to function.
Company Strategic Goals
 Ensure a 90% accuracy rate as it relates to up-to-date information
 Reduce information redundancy among federal agencies
 Research and implement new avenues of communication
 Provide timely and cost-effective ways to meet previously stated objectives
Situational Summary
The three targets of any project are scope, time, and cost. Currently many projects are over budget and behind schedule causing frustration among the employees, contractors, and stakeholders. Other agencies and outside organizations offer some of these same services, therefore; it is imperative that these issues are corrected in order to stay competitive. Project cost estimates and scheduling are not accurate or being monitored on a regular basis. The current lack of monitoring has caused much wasted time and money. If this continues the revenues that support the Working Capital Fund budget will be...

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