...Generic Benchmarking Worksheet.…..….….…………………………………………. 3 Individual Contributions…………………….………………….………………………… ? References..………………………….……………………………………………………. ? The Foundation Schools Generic Benchmarking Worksheet Task A: Problem/Opportunity Statement | Instructions for Task A: In the Response row, write out the problem/opportunity statements for the scenario for each of the team members. | Response to Task A: Tiesha: Foundation Schools are serving over 1,000 students and wanting to increase enrollment by 5% per year. The board has great ideas of adopting a new strategy that uses business development as the model to increase funding sources and revenues. Using the three year strategic program plan the board will include a number of new projects, visions, and plan. The board can continue with the new visions, projects, and plans for the schools by keep raising money, new ideas of raising money and keeping the directors educated with the innovations need to be the leaders in this field. Christopher: Foundation Schools is a non-profit schooling system created to benefit those students throughout the world that require special needs. Having become a leader in the area of special needs over the years, the growth of Foundation Schools continues to rise. With its reputation across the nation as one of the leading schools for special needs students, Foundation Schools is presented with both problem and opportunity. The problem comes in the form of funding, as the schools...
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...Strategic Program Management Worksheet |A: Concept |B: Application of Concept in Scenario |C: Citation of Concept in Reading | |Project Life Cycle |During the annual meeting to evaluate the first year of the three-year |A project life cycle goes through four stages: | | |strategic plan the board members discuss many individual projects, such as |defining, planning, executing, and delivering | | |funding, increase revenue, costs, and the student-to-teacher ratio. |(Gray & Larson, 2006, p. 6). | | |Throughout the discussion it appears that the members have not set up an | | | |effective project cycle. If the project team took the appropriate steps of | | | |defining the project objectives, planning the budgets, researching and | | | |building ideas and finally delivering the results from all other stages. Jeff| | | |was not prepared to present the status of the funding project. If he had | ...
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...Executives on Project Management Hope Williams BUS 375 – Project Management Professor Christopher Lodge August 11, 2014 Selling Executives on Project Management Selling Project Management to Executives has been a struggle for employees for several years. Executives would rather list to someone from outside the company then to listen to the employees that currently work for the company. Traditionally, senior executives look for information to make sound business decisions as well as to position themselves favorably in terms of personal and professional growth. (Thomas, 2002) Executives usually focus on the values. They usually search for way to measure and increase the return on their investments and reduce expenditures. Large-scale consultants valued project management for its contribution in increasing revenue through sales and establishing their presence on accounts. Small-scale consultants also were interested in revenue and tended to sell project management benefits tactically relative to their individual skills, expertise, and the perceived needs of executives. (Thomas, 2002) Project management as a value to executives was more efficient and effective in business capacities. Consultants are not part of the company and do not know how the company operates so they can give a better overview if project management would work best for the company. Project managers and senior executives do not realize the strategic value of project management beyond its role...
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...Running head: STRATEGIC PROGRAM MANAGEMENT WORKSHEET Strategic Program Management Worksheet University of Phoenix MMPBL/510 August 28, 2010 Strategic Program Management Worksheet |Concept |Application of Concept in the Scenario |Reference to Concept in Reading | |Project Considerations |The question is how much autonomy the project needs in order to be successfully |“Many firms that are heavily | | |completed. John Thomas, Chairperson, Board of Directors, gave attention to the |involved in project management | | |status of individual projects and the major impact affecting revenues, costs and |have created a flexible | | |operating metrics, such as student-to-teacher ratio. |management system that organizes | | | |projects according to project | | | |requirements” (Gray & Larson, | | | |2006, pg. 54). | |Project Management |Both Nancy Anderson, Executive Director and Jeff White, Business Development |“One functional area plays a | |Structure:...
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...Executive Leadership From: Portfolio Management Team Date: February 8th 2016 Subject: Portfolio Management Process Our organization has crossed boundaries and together we have achieved many goals. Although as we all know we are in the business of expanding on opportunity. Today, we are fazed with the challenges of taking advantage of those opportunities due to a lack of control system to ensure the company pursues opportunities that align with our strategic business goals. The primary goal of portfolio management is to prioritize projects, allocate resources to projects, and identifying which projects to initiate, reprioritize, or terminate. A key focus is ensuring that the overall collection of projects creates the greatest possible value by supporting the objectives of the enterprise. In conjunction to the implementation of an analytic hierarchy process; the implementation of AHP and the use of weighted criteria provide the ability to not only weight benefits but also project risk. Fist, we establish a project selection criterion; * Contributes to expansion goal * Expansion of current services provided to current customers (new product lines) * Increase Revenue * Increase Customer Satisfaction * Reduce cost of operations * Reduce overhead and warehousing cost. Upon receipt of a proposed project all proposals will be measured against the project selection criteria by making the determination if the proposed project meets or exceed the requirements above...
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...Quality Management includes the process in which determines the quality policies, objectives, and responsibilities performed so that the project will satisfy the needs for which it was undertaken. Implementation of the policies and procedures within the project’s context will ensure that the project and product requirements are met and validated (PMI, pg 227). It is also the ability to plan and control quality and performs quality assurance. If you include these processes in your Project Quality Management process, your will improve the quality of your current and future projects. The first process of Project Quality Management understands the scope and deliverables of the project. In order to give high quality to your customer or stakeholders, you must know their expectation of the service or product. The basic approach of quality management is compatible with ISO International Organization for Standardization quality standards. Every project should deliver quality to which a set of inherent characteristics fulfill requirements with a grade as a design intent assigned to deliverables having the same functional use but different technical characteristics. The project team will need to apply appropriate levels of accuracy and precision for use in the quality management plan. Applying ISO compatibility to quality management, you will need to take the approaches below: • Customer satisfaction –Customers expectations are met (PMI, pg 229). • Prevention over inspection...
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...executives were not willing to listen to their sales and marketing employees, but eventually, they did listen to a consultant. First, their culture didn’t include project management, second the executives were unfamiliar with project management strategies and outcomes, but lastly they were familiar with how things were done there way and simply were resistant to change. After viewing the consultant’s presentation they were still hesitant about obtaining a PM. Thus, “Historically project management resided only in the project-driven sectors of the market, but in the Non-project-driven sectors of the marketplace, corporate survival was based upon products and services, rather than upon a continuous stream of projects. Profitability was identified through marketing and sales, with very few projects having an identifiable P&L. As a result, project management in these firms was never viewed as a profession.” (Kerzner, 2012 pg. 59) Three Strategies by the PM Consultant The three strategies that the PM consultant felt necessary to use to help the executives at Levon Corporation understand the benefits and advantages to having a project manager are listed below: • “Cost Benefit analysis” (Heldman, 2011 pg. 13) • “Profitability will increase and help reduce power struggles” (Kerzner, 2012 pg. 51) • “Project management makes the organization more efficient and...
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...to gain approval from higher management to gain the ability for modification program in the sales department. This report will also cover some important information regarding the requested change and why the change is requested. The four dimensions of change management and their relevance to the change in the sales department and project management. The final topic is the expected return on investment in reference to the requested change. Change The type of change that Kudler would benefit from is a modification program within the sales department. The program will provide information to higher management regarding any changes and allow for easy control over changes while ensuring everyone involved in the change sees the same picture. Huge changes such as a modification program have to be approved and reviewed by higher management so beginning there would benefit Kudler the best. Kudler Fine Foods is currently struggling with selling specific items and the interest in the wine appreciation classes and a modification needs to be made to bring light to those products and additional services. A change done properly could help the classes rise to the top in demand as well as the products in those classes. Higher management is looking for opportunities to increase sales in the wine appreciation classes as well as other departments of Kudler. The modification program would offer suggestions to work towards meeting sales goals and increasing revenue. The first offer would be to...
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...L50/79905/2015 PROJECT PLANNING AND DESIGN CASE STUDY ASSIGNMENT DATE: 31/07/2015 a. Where will the greatest resistance for excellence in project management come from? For excellence in project management to be achieved at Macon, inter-departmental coordination is needed. Macon's Line authority used by management also contributes to its failures in project management. The greatest resistance will be from the departments. The strong departmental autonomy at the company will greatly hinder project management excellence. Departmental strong autonomy is backed up with the managers’ line command that gives them the right to make decisions and to give order concerning the production. The problem of superiority is as a result of the strong autonomy. Most of the problems the company is facing is as a result of departmental autonomy that also causes internal competition where Line managers were frequently competing with one another rather than focusing on the best interest of Macon. Each would hope the oilier would be the cause for project delays instead of working together to avoid project delay's altogether. Once dates slipped, fingers were pointed and the problem would worsen over time. Members of the production team have a very poor working relationship with their fellows from the two technical departments and as a result project delay and failure. The organization would require rigorous change management to successfully bring excellence in project management. Greatest resistance...
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...Smith Date: August 21, 2011 Re: Part I Team Paper- Portfolio Management Process for Network Development New Project: 4G LTE Technology Telecommunications play an important role in the world economy and the worldwide telecommunication industry's revenue was estimated to be $3.85 trillion in 2008. The service revenue of the global telecommunications industry was estimated to be $1.7 trillion in 2008, and is expected to touch $2.7 trillion by 2013. Among those an important player in this global industry is Verizon Wireless being the second largest provider of mobile phones service in United States. Headquartered in Basking Ridge, N.J., Verizon Wireless is a joint venture of Verizon Communications (NYSE: VZ) and Vodafone (NYSE and LSE: VOD). Verizon Wireless must to maintain its competitive advantage in this dynamic global environment and if possible to increase its market share against active competitors. Therefore it is a must to focus on new projects and technology which gives a sense of success. In this memo we would like to recommend that a new project be considered for inclusion into Network Development portfolio to address the increasing market demand for new technology and quality of products and services provided by Verizon Wireless. We do realize it may require that another project be delayed to allow for this new product to take advantage of the market opportunity by the end of 2011. Portfolio Management Process (including selection criteria) Verizon Wireless is...
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...components of project portfolio management and impact on project managers. Introduction Organizations with mature portfolio management practices have higher rates of resilience to overcome business challenges (Rise above the competition with portfolio management, no date). Project portfolio management (PPM) is a centralized management of practices, processes, methodologies and measuring techniques used for strategic pipeline flow, project prioritization, change management, resource management, portfolio evaluation and risk management. The objective is to ensure that the strategic business objectives such as revenue growth, cost reduction, regulatory mandate, business continuity, among others, are achieved. Key Components of project portfolio management Strategic pipeline flow. This component includes the processes of screening of project proposals and funneling them through the portfolio. Proposals which are developed from the agreed business strategies are screened and selected to go to the next phase of business case development. The business case is then examined and validated by all the relevant stakeholders and possibly external consultants. A decision is followed to include the project in the portfolio with a predetermined resource and timeframe in line with the strategic plan. The projects in the portfolio are monitored and assessed periodically whether they may continue, differ or stop based on their reported performance by the project team. Project managers have...
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...Overview of Project Cost Management According to an accounting textbook, cost is defined as a resource sacrificed or foregone to achieve a specific objective. It is something given up in exchange. It is necessary for project managers to understand project cost management since project costs money and consumes resources. There are reasons for project cost overrun and these are as follows: * Not emphasizing the importance of realistic project cost estimates from the outset. IT project cost estimates are low to start with or based on unclear project requirements. * Many IT professionals think that preparing cost estimates is a job for accountants when in fact, it is a very demanding and important skill that project managers need to acquire. * Many IT projects involve new technology or business processes that involve untested products and inherent risks. Project cost management involves the processes required to ensure that the project is completed within an approved budget. These processes are as follows: * Estimate costs * Determine budget * Control costs As project managers, understanding the basic principles of cost management is a must in order for them to be effective in managing project costs. Important concepts include profits and profit margins, life cycle costing, cash flow analysis, internal rate of return, tangible and intangible costs and benefits, direct costs, sunk costs and learning curve theory. Profits are revenues minus expenses...
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...PROJECT PROPOSAL FPT GROUP Date 18/1/2013 INSTRUCTOR * MSc. Tung Tran Minh * Thang Nguyen Minh SUPERMAN TEAM * Trinh Nguyen Thi Kieu * Truc Nguyen Thi Duong * Thuong Pham Thi Dieu * Trang Nguyen Thi Thanh * Thanh Nguyen Quang Contents 1. PROJECT CHARTER 6 1.1. Team ’s Information : 6 1.2. FPT Group information 6 1.2.1. General information 6 1.2.2. Mission 6 1.2.3. Vision 6 1.2.4. FPT distribution 7 1.2.5. Client organization chart 9 Figure 3. FPT Organization chart 9 1.2.6. Leadership 10 1.2.7. Subsidiaries and Associates 10 2. PROJECT PLAN 11 2.1. Project Schedule 11 2.2. PERT chart 13 2.2.1. Preparation 13 2.2.2. Implementation 13 2.2.2.1. Project charter 2.2.2.2 Project Plan 14 2.2.2.2. The values 14 2.2.3. Conclusion 15 2.3. Critical path 15 2.4. Roles of members 16 2.5. Communication plan 16 3. THE VALUE 17 3.1. Stakeholders in Business 17 3.1.1. Employees 17 a. Compensation system 17 b. Training 17 c. Policy for disabled employees 18 3.1.2. Customer 19 a. Education 19 b. FPT Telecom have regular promotions for customers on holidays 19 3.2. Economic value 20 Figure 6. EPS within 5 years 22 3.3. Asset Value 22 3.3.1. Tangible assets 22 3.3.2. Intangible assets 23 3.4. Organization value 24 3.4.1. For efficiency 24 3.4.2. Customer centric 26 3.4.2.1. Quality of products 26 3.4.2.2. Communication 26 3...
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...PROJECT PLANNING AND MANAGEMENT (Project Planning / Project Formulation / Project Implementation / Preparation of Project Proposal) Compiled by S.Rengasamy, Madurai Institute of Social Sciences One Of the most important administrative developments in the developed as well as in developing countries has been the initiation and growth of a large number of new programs projects in every field like Since the 1950s the development agenda has been agriculture, irrigation, industry, community characterized by projects and programs aimed at improving the quality of life of beneficiary communities, development and social welfare etc.. The principle be it in physical or qualitative terms. Despite significant aims and objectives of all these programs have been inputs of human and financial resources, many fell short to bring about overall changes in the existing socio- of expectations. Projects failed to meet the priority economic structure in the country providing thereby needs of communities; stated outputs were not achieved dignified way of life to a citizen as a unit and socio- or, if achieved, not sustained; target groups did not benefit in the manner intended; project costs escalated economic up liftment of the society. So most of the administrators are directly concerned with the program / project administration than other activities. The capability of administrative system to formulate and implement, relevant and in able programs effectively constitutes a crucial element in...
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...Creating the Project Budget Introduction Consider the statement: Projects do not happen in a vacuum. This certainly is a truism. However, in our previous book, The Essentials of Strategic Project Management, we pointed out that many companies consider projects and project management as if they exist in a vacuum. 1 Companies often tell us: “We need project management training.” The attitude conveyed by that statement shows that projects and project management are considered to exist in a vacuum. Any company can improve the manner in which projects are executed to become more efficient. However, no matter how efficient a project team may be, if the project being executed is not in alignment with the company’s financial goals and strategy, there is a limit to how the company will profit from the project. A project’s budget must be based on the company’s strategy and financial goals. These goals are reflected by the company’s budget, which may be represented by a number of different documents, including pro forma or projected revenue and expense, cash flow, and balance sheets. The project budget that is based on the company’s financial planning has a much greater chance of contributing to the company’s success. In this chapter, we will first look at the process of creating a company’s operating budget. Later we will move on to project budgets and how they relate to the company’s operating budget. To create the company’s operating budget, we must bring together and synthesize...
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