Josh and Mike met as roommates during freshman year at Macalester College in St. Paul, Minnesota. Despite a rocky start they became best friends. They are planning a two-week adventure together to celebrate their graduation in June. Josh has never been to Europe and wants to visit France or Spain. Mike spent a semester abroad in Aarhus, Denmark, and traveled extensively in northern Europe. Even though Mike has never been to France or Spain, he wants to go to someplace more exotic, like South Africa or Vietnam. For the past week they have been arguing over where they should go. Josh argues that it will cost too much to fly to South Africa or Vietnam, while Mike counters that it will be much cheaper to travel in Vietnam or South Africa once they are there. They agree that they can spend no more than $3,500 each on the trip and could be gone for only two weeks.

One evening when they were arguing with each other over beers with friends, Sara said, "Why don't you use what you learned in your project management class to decide what to do?" Josh and Mike looked at each other and agreed that made perfect sense.

Assume you are either Mike or Josh; how would you go about making a decision using project management methodology?

Looking first at only cost, what decision would you make?

After cost, what other factors should be considered before making a decision?

This scenario from Bowersox covers General Motors' success in the development of the Volt Electric Vehicle.

Using this example, please identify, describe, and discuss a scenario from your personal or professional life where Fast Tracking has been - or could have been successful.

27 https://my.post.edu/CMCPortal/s x Bb Unit 3 - PMG300_30_Project Man x Bookshelf Ambassadored: Project X * Homework Help - Q&A from Onl X + V X > C A ambassadored.vitalsource.com/reader/books/9781260736205/epubcfi/6/38[%3Bund.vst.idref%3Dchapter06]!/4/2/32/10/12/16/6/4/3:209[s%200%2Cf%20s] Q AA ... concurrent engineering. In a nutshell, concurrent engineering entails the active involvement of all the relevant specialty areas throughout the design and development process. E The traditional, chainlike sequence of finish-to-start relationships is replaced by a series of start-to-start lag relationships as soon as meaningful work can be initiated for the next phase. Figure 6.16 summarizes the dramatic gains in time to market achieved by this approach. FIGURE 6.16 New Product Development Process Traditional Sequential Approach Product Systems Engineering Procurement Manufacturing Quality planning engineering design & & production assurance Release development Concurrent Engineering Approach Quality assurance Release Manufacturing & production Procurement Engineering design & development Systems engineering Product planning - Time Within the world of project management this approach is also called fast tracking. General Motors used this approach to design the very first American hybrid car, the Chevy Type here to search O 10:20 AM 3/22/2022