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Rpd Problem Solution Paper

In: Business and Management

Submitted By ringram23
Words 6503
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Problem Solution: Remington Peckinpaw Davis Inc.

As a reputable name on Wall Street, Remington Peckinpaw Davis (RPD) has maintained its position in the trading industry for over 35 years. With the emergence of technology as a necessity in the daily lives of most, the trading market was introduced to the online environment. In an attempt to keep up with this growing trend of e-trading the President of RPD created a plan designed to open RPD up to the world of e trading. During its brief time in the online market the company has faced much scrutiny. Due to lack of resources and adequate project planning the eRPD project is turning into a huge failure. “A project is a complex, nonroutine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. Like most organizational effort, the major goal of a project is to satisfy a customer’s need,” (Gray & Larson, 2006, p. 4).
This paper will identify the issues and opportunities faced by RPD as well as provide instructions for successful project execution. It will dictate the impact that proper project planning, budgeting, risk evaluation, resource management, and the utilization of the proper project management tools will have on the success of the eRPD project. Restructuring the focus of the project committee and the management team to realign its activities with the long term objectives of RPD will be of great benefit to the parties involved. By identifying and executing the major characteristics of a project RPD will be able to create a precise vision of what a project consists of. Some of the characteristics of a project that will be identified throughout this paper are the abilities to “establish an objective, define a life span with a beginning and an end, the involvement of several departments and professionals, completing new tasks, and implementing

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