Problem based Project Management Plan Assignment
Added on 2020-10-05
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PROBLEM BASED PROJECTMANAGEMENT PLAN
Table of ContentsEXECUTIVE SUMMARY.............................................................................................................1BACKGROUND.............................................................................................................................1a. Needs for improvement......................................................................................................1b. Approaches, technologies relevant to the project...............................................................1EVALUATION OF ALTERNATIVES..........................................................................................2a. Alternative solutions...........................................................................................................2b. Criteria, ranking, rating used to develop project selection matrix.....................................2c. Analysis of outcome...........................................................................................................5PROJECT CONCEPT.....................................................................................................................5a. Description of project.........................................................................................................5b. Project objectives................................................................................................................5c. Project requirements and deliverables................................................................................5d. Key performance indicator.................................................................................................6PROJECT FEASIBILITY...............................................................................................................6a. Feasibility and sustainability of project..............................................................................6b. Approval requires...............................................................................................................7c. Project assumptions............................................................................................................7d. Known constraints..............................................................................................................7e. Possible improvements.......................................................................................................78. Project Stakeholders Management:..............................................................................................89. Project schedule management .....................................................................................................9A) Mile stone for the project .................................................................................................9B Gantt Chart..........................................................................................................................9C) Work breakdown structure..............................................................................................11Defining the way schedule will be managed during the project..........................................1110. Project cost management ........................................................................................................12A)Budget..............................................................................................................................12C).Managing the costs during project ................................................................................1311. Project quality management ....................................................................................................1312. Project Risk management........................................................................................................14
A) Completing a risk register for the project including development issues and operational14B ) Risk management matrix................................................................................................16C. Information related to Risk management ........................................................................1713. Project procurement ................................................................................................................17A) Types of contracts required.............................................................................................17B) Make or Buy analysis......................................................................................................18C) Procurement management...............................................................................................19CONCLUSION..............................................................................................................................19REFERENCES..............................................................................................................................20
EXECUTIVE SUMMARYWRU is specialized in designing and manufacturing quality widgets. But die toincreasing demand and high competition it is unable to sustain in the market for longer duration.WRU wants to gain competitive advantage by enhancing is production capabilities. Studydiscusses the project, its requirements and deliverables. Furthermore, it explains weight scoringmodel as alternative solution in order to meet the success. Project feasibility study is beingcarrying out in this project. In addition, report describes stakeholder management, costmanagement with respect to WRU project. BACKGROUNDa. Needs for improvementWidget's R Us Widgets' R Us (WRU) is the leading firm that produces quality widgets.This industry is performing well and it has stable market situations. WRU has four majordepartment in the firm: accounting, sales, production and engineering. The designs that use bythe firm in manufacturing of widgets are effective and support the entity in providing low priceproducts to the consumers (Kerzner and Kerzner, 2017). Over a period of time demand has beenincreased and competition has been enhanced. In such condition WRU is facing trouble becauseaverage life cycle of the manufacturing the widgets is 12-15 months. One of the major issue face by the firm that it is unable to meet the demand. Becausemanufacturing time of product development in 12-15 month and in such longer duration it getsfail to meet the high demand. Another problem in the workplace is it is unable to compete withthe dynamic market demand. Due to high competition WRU has to make changes in itsmanufacturing process. Though, entity has made many innovations but still demand has not beenmatched. Another issue in the workplace is poor internal communication. Poor monitoring isanother major problem in the business unit (Fleming and Koppelman, 2016). Due to poorcontrolling and monitoring department heads blame other departments for the problem. They donot take initiative to control over the issues. b. Approaches, technologies relevant to the projectThe main agenda of WRU is to sustain in the market for longer duration and gaincompetitive advantage. But due to several issues it might get failed to meet with its objectives.As it is identified that internal communication is the major problem in the firm. Thiscommunication approach is highly relevant to the project. Quality of final product is high1
depended upon the internal communication between various departments. If productiondepartment do not coordinate well with the engineering department then they will fail to identifythe basic feature of design (Walker, 2015). That is why they fail to manufacture the widgets inless time. If they coordinate well with each others then it may help in minimizing errors andreducing the production timing. This would be beneficial for the WRU in manufacturing thewidgets within 8 months and it will be able to meet with the demand. Furthermore, poormonitoring is also relevant to the project of WRU. If department heads take responsibilities andmonitor the progress of each innovative idea properly then it would be beneficial for thecompany in reducing errors and getting positive results. By this way it will be able to meet withthe insatiable demand (Meredith and et.al, 2016). As market is stable thus, if proper monitoringand controlling has been implemented then entity will be able to implement innovative ideas ineffective manner. This will support in minimizing consequences and producing high qualitywidgets. This is the way through which WRU can gain competitive advantage in the market. EVALUATION OF ALTERNATIVESa. Alternative solutionsIn order to meet with the objective it is essential for the WRU that to take support ofalternative methods so that issues can be resolved ad entity can gain competitive advantage.Weight scoring method would be considered as best approach that can help in minimizing issuesand improving condition of business unit (Binder, 2016). Cited firm first has to decide criteriathat needs to be consider on first priority. Project manager has to give weight to each criteria sothat importance of the factors can be realised in the project. Once weight score is being assignedthen they have to calculate the weight score. WRU has to first identify the requirements and hasto evaluate the criteria properly. This evaluation needs to be done fairly and in acceptablemanner. After deciding the criteria manager has to customize field by using appropriate software.Once it has been customized then scoring needs to be done and then calculate the total scoring.This will help the manager in identifying the factor that need to be consider first in order to meetwith the objective (Conforto and et.al, 2016). b. Criteria, ranking, rating used to develop project selection matrix2
ProjectTitleStrategic connection to suppliersto met the section goalsCustomers indicate need forimprovementData demonstrate that a gap existsSmall scale-itwill show results in 2-3 months"Lowhanging fruit"-it will produce a quickwin and gain buy-inMajoreffective factor-desperately needs improvementStrongsupport from involve project teammembersStrong support from department headsNPHII focus* Do not rank. If applicable, review focus areas listed below. Does project meet criteria (Yes or No)?TotalScoreTo gaincompetitive advantages52444444Y31To reduce manufacturing time33434443Y28To enhance communication 32343233Y233
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