...the project Palomino for future investments. We arrived at this conclusion based on the risks involved, feasibility study, break even analysis and return on the investment studies. It has been stated as a requirement that the project has to be finished and it should start generating revenue within the next 12 months. Below you will find a detail description of the different phases of a project and then an analysis on all three projects, followed by our recommendation. Phases of a project From the start to finish a project can be divided into five different phases (http://www.projectinsight.net/project-management-basics/basic-project-management-phases). Project conception and initiation The purpose of this phase is to define the project accomplishments. This is a critical phase as it is essential for those who will deliver the product/service, for those who will use the product/service, and for those who have a stake in the project to reach agreement on its initiation (http://pmstats.dis.arkansas.gov/Meth/05-Initiation%20phase.pdf). During this phase, the idea of the project is analyzed to see how beneficial it is to the business. Project definition and planning This phase defines the project scope and its activities. It outlines the tasks that have to be performed to complete the project. During this phase, a team should prioritize the project, calculate a budget and schedule, and determine what resources are needed (http://www.projectinsight.net/project-management-basics/basic-project-management-phases)...
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...Project Management Email OPS/571 March 21, 2016 Project Management Email To: Wendell Deirelein/Vice President of Operation Management From: Team Operation Intel Date: March 21, 2016 Re: Piper Industries Corporation Mr. Deirelein as per your request Team Operation Intel has proposed the following recommendation in regards to the three projects and have provided the information that you have requested along with the completion date and cost for each project. The recommendation is listed below: Project Juniper: Schedule Risk: Low Cost: $325000 Durations to completion: 6 months ROI: $250,000 yearly for 2 years total = $ 500,000 Project life: 2-3 years Pros: * Product can be executed. * Risk is manageable * Forecasting risk is low. * Product breakeven is around 1.3 years. Breakeven cost = Cost/ROI= 325000/250000= 1.3 years. * Meets client requirement of product launch in next 12 months. Cons: Company’s future at risk as product life is only 2-3 years. Recommendation: Sustainability is not ensured so not recommended. Project Stargazer: Schedule Risk: Very High Cost: $ 1025000 Durations to completion: More than 1year ROI: ROI of $300,000 first year; $550,000 the second year; and $750,000 the third year. ROI total = $ 1600 000 Project life: 7 years Pros: * Product is futuristic Cons: * Risk is high * Forecasting has high variance. * Product breakeven is around 2.23 year’s years. ROI for first 2 years = 850000 and another...
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...Project Management Email-Piper Industries OPS 571 Dear Mr. Gritsch, I would like to thank Piper Industries for allowing our team to analyze your projects. Our team has carefully reviewed all three projects for a best fit to your business needs. Included you will find our analysis and recommendations of the Project Proposal that most benefits your company. Based on the review of the three projects, it appears that the Juniper project which is an enhancement of a current widget being offered will not be profitable option. It requires a cost of $350,000 to bring the product to market with a ROI of 76.9% of the initial cost at its 3 year life span. With advancements in technology ending the life of this product, it is recommended not to pursue this project. The Palomino project may appear to be more attractive with enhancements using existing technology. Upon reviewing the figures, $655,000 start-up costs to bring to market and a predicted $90,000 return each year for 7 years and factoring a ±5% margin, this project takes a different spin that presents a risk of loss to the organization. With a potential -5% (-$31,500) ROI, it becomes obvious that this project is not worth the risk. The ideal project that our team recommends is the Stargazer project. With an initial research and development cost of $450,000, it will only require an additional $125,000 to bring this product to market. Factoring a product life forecast of 7 years, your organization...
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...| Project Risk, Communication and DocumentationCourse Project: Week 5 | PM 586: Project Management SystemsInstructor: Rich EllimanShari HollowayFebruary 16, 2012 | | | | | ------------------------------------------------- Huntsville, Alabama ------------------------------------------------- Production Plant Communication Plan Risk Management – Step #1 Risk Matrix Identification | Assessment | Response Plan | Risk | Consequence | Probability | Impact | Trigger | Resp. | Response | Cost | May not have enough in the budget | High | | | | Make sure that the Financial administrtor stay on top of the allocated budget and try to communicate how to cut cost as much as possible. | Weather Permitting | Weather could put a hold on building the foundation and or areas of the building | Moderate | | | | Assure that the PM’s along with the Team Members are monitoring the weather within a 24 hr advance period. | Physical Events beyond Control | Contractors... Get injured Sick or They are not able to obtain building permit or license. | Moderate | | | | Train Personnel on safety and mishaps, talk to the PM’s and TM’s about the importance of | Manufacturing of Equip /purchasing of equipment | Equipment does not arrive on time or not the correct equipment. | High | | | | Reorder the correct equipment and estimate the turn around time of getting the equipment so the delay won’t be weeks.Talk with Safety Inspectors daily...
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...Martial Arts Academy School Management System Project Title: Maas Ms Project Charter Business Case THE MARTIAL ARTS ACADEMY SCHOOL MANAGEMENT SYSTEM THE MARTIAL ARTS ACADEMY SCHOOL MANAGEMENT SYSTEM PROJECT TITLE: MAAS MS PROJECT CHARTER BUSINESS CASE VERSION 1 MARCH 2014 TABLE OF CONTENTS Project Description 3 Measurable Organization Value: MOV3 Deliverable Structure Chart Use-Case Diagram Scope Change Procedure Comparison of Alternatives 3 Skills, Knowledge & Roles5 Roles and Responsibilities6 Meeting Schedule7 Team Communication8 Team Rules and Expectations8 Signatures10 Project Description: MAAS MS The Martial Arts Academy has hired Bella Tech Solutions to design a system to help automate their business operations, improve student retention, and increase revenue. The academy has found that their paper-based process for school enrollment, class entry, and skill progression to become more difficult to manage. For example, instructors have found it difficult to keep track of the classes that students have actually registered for and attended. Also, they have observed an opportunity to maintain an accurate account of the student skill level and progression. Bella Tech Solutions has been tasked with the job of creating a system to automate all of their paper based processes that will directly increase the Martial Arts Academy monthly revenue. The name of the project is MAAS MS, which stands for “Martial Arts Academy School Management System” (pronounced Mac Miss);...
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...Information Project Title: | Cleary Bridge 2 | Brief Project Description: | | Prepared By: | | Date: | | Version: | | B. Project Objective: Explain the specific objectives of the project. For example: What value does this project add to the organization? How does this project align with the strategic priorities of the organization? What results are expected? What are the deliverables? What benefits will be realized? What problems will be resolved? | C. Assumptions List and describe the assumptions made in the decision to charter this project. Please note that all assumptions must be validated to ensure that the project stays on schedule and on budget. | D. Project Scope Describe the scope of the project. The project scope establishes the boundaries of the project. It identifies the limits of the project and defines the deliverables. | List any requirements that are specifically excluded from the scope. | E. Project Milestones List the major milestones and deliverables of the project. . Milestones | Deliverables | Date | | | | | | | | | | | | | | | | | | | | | | F. Impact Statement List the impact this project may have on existing systems or units. . Potential Impact | Systems / Units Impacted | | | | | | | | | | | | | | | G. Roles and Responsibilities Describe the roles and responsibilities of project team members...
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...Baltimore, MD 21251 Project Charter “NZEMA SOLAR POWER PLANT” The Ghana Team Project SUBMITTED BY: MONSURAT BUCKNOR SEAN BOONE MORGANE’ COLE JUANITA SINGLETARY JONES DONISHA WHITE September 19, 2015 Project Charter The Ghana Project This Charter formally authorizes the Morgan State University Ghana Team to develop and implement a solar energy plant to be completed for the summer 2018 Ghana Development National Priority plan. This is a firm fixed price contract for $800 million dollars to be completed in two years. The government of Ghana has a strict mandate that all supplies and labor shall come from and within Ghana or from other West African countries and Ghana governance should be the prevailing rules of engagement. This project charter is being submitted to the Project Sponsor for approval. The project charter includes the following: Scope Statement; Identification of Project Manager; Assumptions; Constraints; and a Stakeholder Register. All resources will be assigned by the Project Sponsor, Dr. Steve Onu the Project Sponsor. I. Scope Statement The purpose of the Ghana Solar Energy Plant project is to construct a strategic regional $800 million Solar Energy Plant project in Ghana for the ECOWAS to be completed in two years utilizing Ghanaian resources under the strict governance of Ghana’s prevailing rules of engagement. II. Identification of Project Manager The Project Manager, Sean Boone,...
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...11/17/07 The Project Management Life Cycle By Jason Westland (A book review by R. Max Wideman) Introduction Editor's Note: We liked so much of this book that we asked for the author's permission to quote extensively from the whole of Jason Westland's Chapter 1. This is because it succinctly describes what follows in detail in the remainder of the book. However, in pursuing our regular book review structure, we placed his text under corresponding headings. Since the quotations are so extensive, we have not followed our normal practice of indenting quoted paragraphs. However, the references are identified in the footnotes. As Jason says: "Welcome to The Project Management Life Cycle. This book describes the Methodl23® Project Management Methodology (MPMM)1 and provides a practical approach to managing projects. Every phase, activity and task in the project life cycle is described here in detail to help you manage staff, customers and suppliers efficiently. By reading this book, you will gain the knowledge and confidence required to properly initiate a project, create detailed project plans, build high quality deliverables, monitor and control delivery and close projects effectively. "Not only will you learn how to successfully complete projects from end to end, but you will also be armed with a suite of tools and templates to allow you to create project deliverables quickly and easily. More than 150 charts, tables and diagrams are included in this book to help explain the steps...
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...1: Define Project and Develop Plan Project Brief Project Title MAX LIONEL REALTY – TEST IMPLEMENTATION Project purpose Business Objectives for the project are: - Define the needed functions of clients, tenants and potential tenants of MLR’s commitments - Implement a test MLR obligations and commitment to best-of breed client services - Make recommendations and develop a project plan for a legal and ethical obligations - Report to all stakeholders in an annual meeting Background and strategic context In order to build customer goodwill and satisfy the legal and ethical obligations, MLR has decided to implement a program to: - inform agents of legal and ethical obligations and any standards or codes of conduct followed by the organization - promote high standards in professional conduct - inform clients, tenants and potential tenants of MLR’s commitments - achieve employee and clients buy-in for initiative Priority This project is prioritized to agents, clients and tenants Related projects This project is related to other projects including Construction project, house-keeping project Project client/owner The project clients are agents highly trained and competent in selling and managing real estate, clients who are not sure of MLR obligations and tenants who sometimes feel discriminated against on basis of lifestyle, cultural background and so on. Project sponsor This project is directly sponsored by MLR Project manager Lead...
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...Project Management – Simple Answers to Simple Questions Originally I wrote this for one of my clients in 1991. The idea was to develop a brochure to promote project management in one of the client's departments. Today, project management is well established in the organization, but the answers to the questions are just as valid. R. Max Wideman 01 What is a project? A. The term project seems to be a buzzword that means a lot of different things to different people. Anything, for example, from a secretary's "project" to clean out an old filing cabinet to an engineer's "project" to create a multi-million dollar facility. Even these extremes have one thing in common: the application of work or effort to create a new situation or product, where "product" is used in its broadest sense. So a project can be any undertaking with a definite starting point and one or more defined objectives the completion of which spell out the end of the project. It should be added that for one reason or another most projects are restricted by limits imposed on resources (effort, equipment and materials) time and money. 02 Why do I need project management? A. Another way of asking this question is "What if I don't bother with project management?" The fact is, all projects demand some degree of attention to make them happen. Even the secretary needs to deliberately plan to set aside some time to clean out that filing cabinet, otherwise the job will never get done! Believe it or not exactly the same holds...
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...Natalie Waller, Ralph Talerico, Jelina Perez, Patrick Wayand Professor Meier ENC 3246.702F15 25 September 2015 Annotated Bibliography "All-in-one Project Management Software." Celoxis. N.p., n.d. Web. 24 Sept. 2015. This management software is designed for flexible project portfolio management, time and expense tracking, budgeting and work collaboration. This software is being used by large companies and corporations like HBO and LG for their collaborative work management solutions. It is a cloud based project management software that offers up-time and huge data backup with multi-OS and multi-database platform. Campen, Alan D. "Hurricane Katrina Represents A Failure to Communicate." Signal. N.p., Dec. 2005. Web. 23 Sept. 2015. The author...
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...OMGT 4783 – Project Management for Operations Managers Session II 2009 Instructor: Dr. Lou Adler Office: Bella Vista, AR Telephone: 479-855-2233 Office Hours: Upon Request Email: ladler@uark.edu Required Textbooks & Equipment 1. Project Management: A Managerial Approach, 7th edition, Jack Meredith & Samuel Mantel, John Wiley and Sons, 2009. 2. Project Management Case Studies, 3rd edition, Harold Kerzner, John Wiley and Sons, 2009. 3. Access to a personal computer (PC) for assignments in MS ProjectPro, which must be loaded into the machine. Grading |Homework |Weekly Assignments |100 pts |10% |Grading | |Exams |Mid-Term |200 pts |20% | A ≥ 90% | | |Final |300 pts |30% | B 80-89% | |Course Projects |Individual Project |150 pts |15% | C 70-79% | | |Team Project |150 pts |15% | D 65-69% | |Class Participation | |100 pts |10% | F ≤ 64% | |Total | |1000 pts |100% | ...
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...on Software tools available for project management to help managers to use quantitative analysis Project Management: A project is temporary in that it has a defined beginning and end in time, and therefore defined scope and resources. And a project is unique in that it is not a routine operation, but a specific set of operations designed to accomplish a singular goal. So a project team often includes people who don’t usually work together – sometimes from different organizations and across multiple geographies. The development of software for an improved business process, the construction of a building or bridge, the relief effort after a natural disaster, the expansion of sales into a new geographic market — all are projects. And all must be expertly managed to deliver the on-time, on-budget results, learning and integration that organizations need. Project management, then, is the application of knowledge, skills and techniques to execute projects effectively and efficiently. It’s a strategic competency for organizations, enabling them to tie project results to business goals — and thus, better compete in their markets. Microsoft Project has a qualitative risk analysis methodology capability But what about quantitative cost and schedule risk analysis? Quantitative risk analysis gives the project manager the ability to see how a project schedule will be affected if project risks become issues. As a result of this insight, project managers is implement risk responses...
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...customer in getting his/her needs satisfied. The HR department tasked with this project has form a project team to carry out the training. The project charter has been written and the project plan document is now being prepared. Discuss the background of the project including the business need for which the project is addressing. The HR department has been tasked with improving the customer relations skills of the employees. Top Management is mandating the HR department to have the employees properly trained in customer relations on a day to day basis. The employees must be ready and able to resolve problems customers encounter and also be able to attend to the needs of the customer in a professional and competent manner. HR has established a team to accomplish this project. The main purpose of this project is to improve customer relations within the organization. Improvement in customer relations will enable to company to retain and therefore obtain repeat business from first time customers and to better service current customers which in turn will give the company a better reputation and make it more attractive to potential customers. This will certainly improve the profitability of the company. Identify three primary stakeholders in the project. The primary stakeholder is the Top Management. Top Management is the primary stakeholder because it sets the direction for the company. Top Management decides the culture, values, mission and vision of the business. It has decided...
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...Communications Management Plan Template This Project Communications Management Template is free for you to copy and use on your project and within your organization. We hope that you find this template useful and welcome your comments. Public distribution of this document is only permitted from the Project Management Docs official website at: www.ProjectManagementDocs.com Communications Management Plan Company Name Street Address City, State Zip Code Date Table of Contents Introduction 2 Communications Management Approach 2 Communications Management Constraints 3 Stakeholder Communication Requirements 3 Roles 4 Project Team Directory 6 Communication Methods and Technologies 6 Communications Matrix 8 Communication Flowchart 9 Guidelines for Meetings 9 Communication Standards 10 Communication Escalation Process 11 Glossary of Communication Terminology 12 Introduction The purpose of the Communications Management Plan is to define the communication requirements for the project and how information will be distributed. The Communications Management Plan defines the following: • What information will be communicated—to include the level of detail and format • How the information will be communicated—in meetings, email, telephone, web portal, etc. • When information will be distributed—the frequency of project communications both formal and informal • Who is responsible for communicating project information ...
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