Problem Solution Remington Peckinpaw Davis

Essay by rlundayUniversity, Master's September 2010

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Running head: PROBLEM SOLUTION: Remington Peckinpaw Davis Inc.

Problem Solution: Remington Peckinpaw Davis Inc.

University of Phoenix


Problem Solution: Remington Peckinpaw Davis Inc.

Remington Peckinpaw Davis (RPD) is a trading firm, founded by Sam Remington more than 35 years ago. The organization is facing increased competition due to internet investments, to remain competitive, RPD developed a strategic implementation plan to develop and introduce the company's entry into online trading called eRPD, (Scenario, 2010). Due to the complexity and large number of requests for additions to the system, this plan was time-phased because many problems existed with the plan. The dilemma is what to do to solve the problems. "Phase estimating is used when an unusual amount of uncertainty surrounds a project and it is impractical to estimate times and costs for the entire project, (Gray & Larson, 2005, p. 135).

To have a timely and reliable cost control, a time-phased budget is required, without it, it is near impossible to have any control. One project management tool to manage the project more effectively is a business case, which can be used to implement a strategic plan to communicate recommendations and align the stakeholders with the Balanced Scorecard, a "model that measures the long-run results of major program activities in four areas; customer, internal, innovation and learning, and financial," (Gray & Larson, 2005, p. 557). eRPD's technological issues must be immediately addressed or the brokerage firm could face severe financial loss.

Describe the Situation

Issue and Opportunity Identification

Remington Peckinpaw Davis Inc. (RPD) strives to be the leader in online trading by establishing successful project management and implementation practices to meet the needs of the stakeholders and deliver projects on time and within budget using the new eRPD online trading.