Premium Essay

Trophy Project

In: Business and Management

Submitted By cyprianoly
Words 29767
Pages 120
Publicly-available solutions for

AN INTRODUCTION TO
GAME THEORY

Publicly-available solutions for

AN INTRODUCTION TO
GAME THEORY

M ARTIN J. O SBORNE
University of Toronto

Copyright © 2012 by Martin J. Osborne
All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of Martin J. Osborne.
This manual was typeset by the author, who is greatly indebted to Donald Knuth
A
(TEX), Leslie Lamport (L TEX), Diego Puga (mathpazo), Christian Schenk
(MiKTEX), Ed Sznyter (ppctr), Timothy van Zandt (PSTricks), and others, for generously making superlative software freely available. The main font is 10pt
Palatino.

Version 6: 2012-4-7

Contents

Preface
1

xi

Introduction 1
Exercise 5.3 (Altruistic preferences) 1
Exercise 6.1 (Alternative representations of preferences)

1

2

Nash Equilibrium 3
Exercise 16.1 (Working on a joint project) 3
Exercise 17.1 (Games equivalent to the Prisoner’s Dilemma) 3
Exercise 20.1 (Games without conflict) 3
Exercise 31.1 (Extension of the Stag Hunt) 4
Exercise 34.1 (Guessing two-thirds of the average) 4
Exercise 34.3 (Choosing a route) 5
Exercise 37.1 (Finding Nash equilibria using best response functions) 6
Exercise 38.1 (Constructing best response functions) 6
Exercise 38.2 (Dividing money) 7
Exercise 41.1 (Strict and nonstrict Nash equilibria) 7
Exercise 47.1 (Strict equilibria and dominated actions) 8
Exercise 47.2 (Nash equilibrium and weakly dominated actions) 8
Exercise 50.1 (Other Nash equilibria of the game modeling collective decision-making) 8
Exercise 51.2 (Symmetric strategic games) 9
Exercise 52.2 (Equilibrium for pairwise interactions in a single population) 9

3

Nash Equilibrium:

Similar Documents

Premium Essay

The Trophy Project

...Project Control Management Assignment Abstract Introduction Section 1: The Trophy Project: Project Controls 1.1 Project Planning and Estimating 1.2 Requirements Definition 1.3 Risk & Issue Management 1.4 Reporting (Cost & Status) 1.5 Integrated Planning Section 2: The Importance of Integrated Planning as a Project Control 2.1 Integrated Planning 2.2 Integrated Planning in BAE Systems Section 3: The Consideration of Human Factors at WCE 3.1 The WCE Strategic Change Programme 3.2 Why Change Programmes Fail Conclusion Abstract Wynn Computer Equipment – a reasonably successful and good business to work for (benefits & salary wise), had been suffering with issues in productivity. These issues were mainly derived from a combination of poor communication, bad planning, a confusing organisation structure and a lack of direction & team morale/ teamwork. The company received a contract for the ‘Trophy Project’ – which was project managed by a previously junior member of staff – Reichart. The project was extremely problematic and was delivered very late and at great cost, mostly due to the poorly executed project control mechanisms within the business (during planning and project implementation). The business could have greatly benefitted from using a more integrated approach to project planning and control- something which BAE Systems finds of great importance to their project management activities. Introduction...

Words: 4881 - Pages: 20

Premium Essay

Trophy Project

...The Trophy Project  |   | Save Paper | Category: Case Study Analysis | Word(s): 3104 | Page(s): 13 | View(s): 1572 | Rank: 0 |   | [pic] TABLE OF CONTENTS    1. EXECUTIVE SUMMARY    2. INTRODUCTION    3. QUESTION 1    4. QUESTION 2    5. QUESTION 3    6. QUESTION 4    7. CONCLUSION    8. BIBLIOGRAPHY    1. EXECUTIVE SUMMARY | The lack of support from top leadership on The Trophy project compounded Reinhart’s problems and made managing the project a complete nightmare. This was also mainly due to the fact that there was no business case formulated for this project. The baseline plan might have been formulated but it did not cover all aspects of the project plan. For instance there was no clear project objective outlined so the team members only realised that they had a role to play months after the project had started. Had the project been divided into work packages commonly called Work Breakdown Structure, and responsibilities handed to the right parties the project would have kicked of on a positive note. By creating a network diagram which shows what goes where and the interdependencies of activities it would have made it easier for everyone to see the objective of the project. There was a need to review the project immediately after it was realise it was falling behind and measures put in place to remedy this. Reinhart conducted his own investigation and realised that the line managers where charging him direct labour time which...

Words: 3154 - Pages: 13

Premium Essay

The Trophy Project

...CRANEFIELD COLLEGE OF PROJECT AND PROGRAMME MANAGEMENT MODULE M2 GROUP ASSIGNMENT CASE: The Trophy Project DATE: 13 March 2013 We hereby declare that this assignment is entirely our own work, and that it has not previously been submitted to any other Higher Education Institution. We also declare that all published and unpublished sources have been fully acknowledged and properly referenced. This includes figures, tables and exhibits. Where modified by us, this has also been indicated. Name | Signature | ID Number | Dorothy van Heerden | | 7003230015080 | Delareze Joubert | | 7911030059084 | George Klopper | | 6510115056089 | Morne Grobler | | 8006265241082 | Salome Cilliers | | 8502170130089 | Tammy Pieterse | | 7811030086089 | Thabi Qaqane | | 7812220436084 | Andre Henn | | 7807285013083 | * Index Index 2 1 Executive Summary 3 2 Introduction 4 3 Problem Identification 5 3.1 SWOT Analysis of the Trophy Project 5 3.2 Problem Analysis 6 3.2.1 STRUCTURAL 6 3.2.2 Behavioural 7 3.2.3 Organisational 13 4 Recommendation 15 4.1 Organisational Effectiveness 15 4.2 The Balanced Score Card Approach 15 5 Conclusion 18 6 Bibliography 19 Executive Summary This document, by means of a thorough analysis of the case study, reveals that the Trophy Project is in a state of disorder. It identifies problematic behavioural structural and organisational issues within the company and discuses leadership problems that the company experiences throughout...

Words: 4449 - Pages: 18

Premium Essay

Trophy Project

...MODULE 2 PROJECT MANAGEMENT: PROGRAMME MANAGING ORGANISATIONAL PERFORMANCE AND INNOVATIVE IMPROVEMENT CASE STUDY: “TROPHY PROJECT” GROUP ASSIGNMENT 05 JUNE 2012 We the undersigned hereby declare that this assignment is our own work. It has not been previously submitted for any other examination. Nocawa Johnson________________________________ Nolusindiso Mitani_________________________________ Welhemina Mnguni_________________________________ Content 1. Executive Summary………………………………………………………….....2 2. Body (Problems and Causes)……………………………………………….....3 2.1 Poor Planning…........................................................................................3 2.2 Programme behind schedule….................................................................4 2.3 Fruitless expenditure……………………………………………………...….4 2.4 Lack of Leadership………………………………………………………..….5 2.5 Lack of Communication……………………………………………….….….6 2.6 Lack of teamwork (no cohesion)……………………………………….……6 2.7 No goals and no objectives…………………………………………………..7 2.8 Conflict and Resistance………………………………………………………8 2.9 No Programme Management Office…………………………..………….….8 2.10 No required skills..........................................................................9 2.11 Lack of Technology……………………………………………….…9 2.12 Lack of Authority……………………………………………………10 3. About leadership in the top and functional management levels of the Organisation…………………………………………………………………...

Words: 4473 - Pages: 18

Premium Essay

Trophy Project

...Table of Contents 1. Executive Summary 3 2. Major problems Experienced in the Trophy Project 4 2.1. Synopsis of the Trophy project case study problems 4 3. List of Problems 4 3.1. Operational 4 3.2. Behavioural 5 3.3. Structural 5 4. Leadership at Top Management and functional management levels of the Organisation 7 4.1. Initiation Structures 8 4.2. Dysfunctional roles of Functional Manager 8 4.3. Lack of Senior Management Support 8 4.4. Reactionary Management style 10 4.5. Implementation strategy 10 4.6. Lack of Customer Relationship Management (CRM) 11 4.7. Internal Processes perspectives 11 4.8. Lack of Innovation and Learning (Learning and Growth) Perspective 11 5. Reichart’s Leadership and Managerial Abilities 12 5.1. Planning 12 5.2. Organizing 12 5.3. Staffing 12 5.4. Leading 13 5.5. Controlling 13 5.6. Major Skills lacking in Reichart’s leadership 14 6. Recommendations 14 6.1. Implementing a Strategic Transformation and Change Management Programme 15 6.1.1. Strategic transformation planning 15 6.1.2. Creating a Climate for Change 17 6.1.3. Continuous Organisational Improvement 17 6.1.4. Risk Management 18 6.1.5. Control 18 6.1.6. Stage–Gate Model 18 6.1.7. Balanced Scorecard 19 7. Conclusion 19 8. References 20 9. Annexure 22 9.1. Planning, Control, organising, & leading 22 9.2. BS – PM Learning Organisation Value Chain Schematic 23 9.3. Kotter’s 8-Step Process for Leading Change 23 9.4. Strategic transformation process 24 9.5...

Words: 4860 - Pages: 20

Premium Essay

The Trophy Project

...There is no blame 11 3.2 A Shift of Mind 11 4 Recommendations Regarding Transformation and Change to Ensure Effective and Efficient Functioning of the Organisation 12 4.1 Managing Organisational Change 13 4.2 Apply Leadership 14 4.3 Design Effective Organisational Structure 16 4.4 Managing Resistance to Change 17 Bibliography 20 Executive Summary While analysing the case study of the Trophy Project the findings will show the major problems identified and to determine the root cause of the problems. The findings will show how the lack of leadership has resulted in poor or no organisational strategy. Through analysing the lack of behavioural, structural and operational strategy we see the effect it has on the overall organisation and its inadequacies’. It will show the importance of these strategies together with effective leadership and how executing the strategic goals in an integrative manner can lead transformational change, continuous improvement and the building of a learning organisation. The group identified the major problems within the Trophy case as the absence of effective leadership, the dearth in communication, the lack of organisational strategy with the lack of a behavioural strategy have the most negative impact on the organisations growth and success. The organisation needs some radical changes in order to survive within the rapidly changing customer driven economy. The recommended changes will ensure that style of leadership will assist...

Words: 5219 - Pages: 21

Premium Essay

Trophy Project

...The Trophy Project was a lengthy project that seem was obviously very important to the company. Reichart, who was a prior assistant project manager, was given the reigns and selected as the project manager (PM) for the Trophy Project. From the very beginning, the project faced challenges that are common to many projects. As a PM, Reichart had many roles and responsibilities throughout the duration of the project. Reichart needed to direct and control the project. As the PM he needed to use interpersonal and communication skills with both functional managers and his project team to accomplish every task in the project. Unfortunately Reichart and the team ended up falling behind schedule, over spent the budget, and didn’t accomplish the project in accordance with the customer’s desires. The following is a list of problems that Reichart and his team encountered with some potential ways that he and the project team might have been able to fix them. 1. Competition over team leadership: From the very beginning of the project, Reichart was faced with the issue of functional managers not using the funds allocated to them for the project to complete actual work for the project. Functional managers were using line workers to accomplish different tasks that weren’t associated with the project while still billing the project for the hours. When Reichart made different people aware that this was happening he was told to not meddle in affairs of the functional managers. It was his...

Words: 1382 - Pages: 6

Premium Essay

Trophy Project

... Key issues in managing people in projects including teamwork and communication Richard had his first experience as a project manager that give us a sense that shortcomings were inevitable. It was not entirely Richards fault, I would blame it to the whole organization for not recognizing their responsibility and contribution towards the project and instead going along with their pet projects. The lack of consensus among centralization structure over the project was caused due to lack of communication. Stakeholders including client should have often asked for progressive report and any lousy performance at the interval should have got an immediate remedial reaction to maintain the project on right pace. Today, in almost every organization, people work in teams or groups. That means managers should be skilled in managing individuals, and managing groups as well. The goal of a manager is to build a good performing team where people do their work, do it well, and respect and support one another. To do this, you must work to promote teamwork, understanding and collaboration among the people you manage on an on daily basis. The rules of working together as a team should underpin how the team is operated. Managing people is not always just acting as overseer, it is to make sure that they get their work done satisfactorily and conveniently, which was missing in trophy project. It also means involving people throughout the team in a creative role, to ensure that together you are...

Words: 1422 - Pages: 6

Premium Essay

The Trophy Project

...Case Overview The ill-fated Trophy Project was in trouble right from the start. Reichart, who had been an assistant project manager, was involved with the project from its conception. When the project was accepted, Reichart was assigned as the project manager. From day one, the schedules slipped and expenditures were excessive.Reichart found out that functional managers were charging direct labor time for “pet projects” to the Trophy Project resources. When he complained about it, he was told not to meddle in functional managers’ resource allocation and expenditures. After approximately six months, he was requested to present a progress report to the corporate and division staff. Reichart took this time to bare his soul. The report substantiated that the project was forecasted to be one year behind schedule and estimated cost at a 20% overrun. The project staff supplied by line managers was inadequate to stayed at the required pace let alone make up lost time. This was his first opportunity to present project problems to people in position to correct the situation. As the result of his frank and candid evaluation, nonbeliever and line managers realized that they had a role to play in the completion of the project. Most of the problems were out in the open and could be corrected by providing adequate staffing and resources. Corporate staff ordered remedial action and staff support to provide a chance to bail out his program. Reichart’s report yielded unexpected results...

Words: 5525 - Pages: 23

Premium Essay

Trophy Project

...Virtual Teams - Plus and Minus: Synopsis: While the business grows more and more global, the virtual communication turns out to be the most effective mode of communication among team members. For a business that is very vast and spread throughout the world, the conventional face-to-face communication is obviously difficult. Team members communicating face-to-face or over computer-media, both have advantages and disadvantages: Face-to-face communication: Advantages: * Visual cues and social presence in face-to-face dialogue also stimulates members to more easily develop interest about one another's background and expertise. * These cues also build trust. Disadvantages: * The price pays a major role for business that is spread across multiple locations. * Minority expression is lower in face-to-face mode. Virtual communication: Advantages: * The teams from multiple locations can merge with lesser cost of travel, by making use of advanced technology. * It allows communication across time zones. * Since the technology plays a major part here, the available information is better shared, and explained concretely. Disadvantages: * Technology has the potential to 'de-stabilize' the relationship between the organization and its employees. Although virtual communication cannot offer advantages of face-to-face communication...

Words: 4769 - Pages: 20

Premium Essay

The Trophy Project

...Como Tool and Die was s second-tier component supplier to the auto industry. Their largest customer was Ford Motor Company. Como had a reputation for delivering a quality product. During the 1980s and the early 1990s, Como’s business grew because of its commitment to quality. Emphasis was on manufacturing operations, and few attempts were made to use project management. Line managers who, more often than not, were overburdened with work controlled all work. The culture at Como underwent a rude awakening in 1996, In the summer of 1996, Ford Motor Company established four product development objectives for both tier one an tier two suppliers: • Lead Time: 25-35 % reduction • Internal resources: 30-40% reduction • Prototypes: 30-35% reduction (cost and time) • Continuous process improvement and cost reductions The objective were aimed at consolidation of the supply base with larger commitments to tier one suppliers, who would now have greater responsibility n vehicle development, launch, process improvement, and cost reduction. Ford had established a time frame of 24 months for achievement of the objectives. The ultimate goal for Ford would be the creation of one global, decentralize vehicle development system that would benefit from the efficiency and technical capabilities of the original equipment manufacturers (OEMs) and the subsupplier infrastructure. STRATEGIC REDIRECTION: 1996 Como realized that it could no longer compete on quality alone. The marketplace had changed...

Words: 973 - Pages: 4

Premium Essay

Trophy Project Case Study

...Procurement in Project Management CPM 620- D1 Homework #4 Trophy Project Case Study November 11, 2011 There are three problem areas within this company that really stands out and have contributed to the trophy project’s failures. The conflicting organizational structure, the lack of senior management support, and the project manager all contributed to the failure of the trophy project. Organizational structure problem: The company appears to be operating as a matrix organizational structure with a project manager assigned to this specific project. However, there is a lack of support amongst the project manager, the functional manager, and senior management. Due to the lack of project-oriented emphasis on the trophy project it appears that the company is operating more as a traditional organizational structure. “In the traditional structure, the power spectrum is realized through the hierarchy, whereas in the project structure, power comes from credibility, expertise, or being a sound decision-maker” (Kerzner, 2006, pg. 198). The company should focus on using a pure matrix organizational structure and give the project manager the support and required resources needed to successfully complete the project. Management problems: It was apparent that there was no support from the functional and senior management on this project. There was also a lack of support by the project office and the line managers. The line managers finally realized that they had a role in the project several...

Words: 831 - Pages: 4

Premium Essay

The Trophy Project Case Study

...Executive Summary The Trophy Project was fundamentally mismanaged from the start. The management functions of planning, organizing, staffing, controlling and directing personnel and resources were poorly executed by both senior and project level management. Customer expectations were not well defined and scope creep was allowed to take place without proper administration. There did not appear to be a corporate champion for this project who could mentor and resolve conflicts that were beyond the authority of the project manager. Plus, the project manager appeared to be inexperienced and was not very adept at negotiating with upper level and functional management to obtain the proper resources necessary to achieve the project objectives. 1. Did the project appear to be planned correctly? No, the project did not appear to be planned correctly. The project scope, resource requirements, schedule and the budget were not well defined. The project did not describe how the project team would be structured or where authority lines were drawn for tasks priorities and structure units. There didn’t appear to be a clear objective outlined for the project and resources were not efficiently utilized or properly managed. There was a lack of leadership support from senior management. When senior management did get involved, they were threatening instead of constructive and failed to seek a true understanding of the underlying problems that plagued the project. Lastly, the customer...

Words: 687 - Pages: 3

Premium Essay

The Trophy Project Case Study

...International Journal of Project Management 26 (2008) 591–600 www.elsevier.com/locate/ijproman Managing public–private megaprojects: Paradoxes, complexity, and project design Alfons van Marrewijk a,* , Stewart R. Clegg b,1 , Tyrone S. Pitsis b,2 , Marcel Veenswijk a,3 a b Department of Culture, Organization and Management, Faculty of Social Science, Vrije Universiteit, De Boelelaan 1081, 1081 HV Amsterdam, The Netherlands ICAN Research Center, Faculty of Business, University of Technology, Sydney, PO Box 123, Broadway NSW 2007, Sydney, Australia Received 1 March 2007; received in revised form 25 July 2007; accepted 20 September 2007 Abstract Recent studies show that despite their growing popularity, megaprojects – large-scale, complex projects delivered through various partnerships between public and private organisations – often fail to meet costs estimations, time schedules and project outcomes and are motivated by vested interests which operate against the public interest. This paper presents a more benign and theoreticallygrounded view on what goes wrong by comparing the project designs, daily practices, project cultures and management approaches of two recent megaprojects in The Netherlands and Australia, showing how these projects made sense of uncertainty, ambiguity and risk. We conclude that project design and project cultures play a role in determining how managers and partners cooperate to achieve project objectives to a greater...

Words: 8394 - Pages: 34

Premium Essay

The Trophy Project

...page 257 You can make out the offer but because this contract is a Freedom of Contract by making whatever contract they want because it is not binding until you meet all criteria that apply. This is a communication of Acceptance because it was mailed. The acceptance part is meeting the exams and that is only for the Academy leading to employment. This is a bilateral contract which means agreement in which one promise is given for another Chapter 13: Question 11 on pages 279-280 No he did not have a legal contract with the bank president because one was not drawn at the time. This mean anyone could back out at anytime. The contract does not become official until the agreement is signed. Once signed everything goes into effect and the project is off ground and started. This is called Intent to make a Binding agreement meaning Parties must have the intent to enter into an agreement that is binding. Chapter 14: Question 15 on page 302 He had the same resources to get his information. The antique buyer was wrong because he knew the value of the items but the person with the items was wrong as well because he did not do his homework on the items. This was an Oral Contract which is hard to prove in court because there is not nothing binding him physically to the agreement such agreement on paper with signature. The antique buyer was wrong and has got the best of the person he can only hope the courts make him give it back. This is also fraud Chapter 15: Question 13 on pages 318-319 ...

Words: 652 - Pages: 3