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Summary:

  • The project's execution is estimated to be approximately five (5) months behind schedule.
  • The project’s financial impact will not be seen until the 3rd quarter 2008, 9 months behind original schedule. Anticipated cost savings likely not to be fully realized due to scope changes that affect the performance of updated software packages.
  • Customer retention issues that could affect overall revenue have not been resolved and may be significant if agreement is not reached with three key customers, two of whom have clear contract termination clauses that could be invoked.