Business Project Management | Time Inc. Study

Running head: PM
Business Project Management
Name of Student
Name of University
Author Note

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Table of Contents
Introduction/Background.....................................................................................................2
1. Project Charter.................................................................................................................2
1.1. Scope Statement........................................................................................................2
1.2. Out of Scope.............................................................................................................2
1.3. Goal...........................................................................................................................3
1.4. Objectives.................................................................................................................3
1.5. Work Breakdown Structure (WBS)..............................................................................4
2. Stakeholder Register........................................................................................................6
3. Stakeholder Management Strategy..................................................................................7
4. Assumptions and Constraints..........................................................................................8
4.1. Assumptions Considered..........................................................................................8
4.2. Project Constraints....................................................................................................8
Conclusion...........................................................................................................................8
Bibliography......................................................................................................................10

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Initial Project Plan
Introduction/Background
Time Inc. is a global firm that has software hubs in fifteen countries. The committee
members of the firm has embarked on a key decision of implementing time sheet in all of its
software hubs. This project is undertaken to monitor the process in which time is consumed in all
the existing centers of the organization, as the system will help in capturing metrics which
include resource optimization, cost of quality and excellence in project management. An initial
project plan is developed that details the project charter, goals, objectives and the tasks to be
completed. The assumptions and the constraints of the project are further discussed in the
following sections.
1. Project Charter
A project charter is a formal document that outlines the scope and the objectives of the
project (Marchewka 2016. This document is essential for developing a realistic project plan. The
charter developed for the undertaken project of Time Inc. discusses the works to be implemented
in this project so that an effective project plan can be developed. The charter further identifies
the main stakeholders to develop an effective stakeholder management strategy.
1.1. Scope Statement
The undertaken project’s scope is to research about several time sheet system and appoint
a vendor for installation of time sheet system in all the software hubs of Time Inc. Along with
that training the staffs and the users is another in scope requirement of the project.
1.2. Out of Scope

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The out of scope requirement of the undertaken time sheet system project are indicated as
follows-
 The project aims in installation of suitable time sheet systems and will not
incorporate any new requirements in the project plan after the start of the project.
1.3. Goal
The objective of the undertaken time sheet system project is to perform all the related
tasks linked with implementation of the said system. To fulfill this undertaken goal of the
project, it is necessary to choose a trusted vendor who would deliver quality product within the
set budget.
1.4. Objectives
The objectives of the undertaken Time Sheet System Implementation project are
indicated as follows-
 To hire consultant who would help in detecting an appropriate Time Sheet System
 To complete the recruitment of project team
 To trail and shortlist suitable time sheet system
 To gain agreement of the major stakeholders of the undertaken project
 To device the shortlisted time sheet system and examine its return on investment
(ROI)
 To train the staffs and the users about the new system
The above points indicate the main objectives of the undertaken project. Fulfillment of all
the above mentioned objectives will indicate successful completion of the project.