You are currently the project manager at a consulting company specializing in developing financial software models. Your company has been awarded a fixed fee contract to develop a sophisticated portfolio risk analysis software application for a multi-billion dollar hedge fund. During project execution, one of your team members delivers one of the completed risk analysis module to your client. The model uses the capital asset pricing model and Monte Carlo simulations to determine the best risk-adjusted returns for the portfolio. Unfortunately, the buyer refuses the deliverable, stating that the model did not meet he technical requirements as specified in the contract you have reviewed the specs, and agree with the buyer’s assessment. Which of the following is the best action to take?
Issue a change order
A. Complete the original work on fixed fee basis and then negotiate
B. a cost reimbursable basis to complete the additional work.
Alter the management plan.
C. Review the work breakdown structure and WBS dictionary with
D. the appropriate team members
Use a stop work order until the discrepancy can be resolved
E.
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