Project management: Time Inc

Running head: PROJECT MANAGEMENT
Project management: Time Inc
Name of the Student
Name of the University
Author’s Note

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Table of Contents
1. Overview about the project..........................................................................................................2
2. Gantt chart...................................................................................................................................2
3. Network diagram.........................................................................................................................4
4. Identification of six milestones using SMART criteria...............................................................6
5. Resources table............................................................................................................................7
6. Project budget..............................................................................................................................8
7. RACI table.................................................................................................................................14
8. Project risks...............................................................................................................................16
9. Probability and impact matrix...................................................................................................23
Bibliography..................................................................................................................................24

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1. Overview about the project
The organization “Time Inc” is an international organization that aims to implement
Time Sheets in 15 different software centres. The committee of the organization is mainly
interest in understanding how time is used by the team members of the project in various centres.
The main interest of the entire committee is to capture different types of metrics including cost of
quality, resource utilization, PM excellence and many more. The organization is mainly
considering the purchase of the Time sheet system which generally works with the Enterprise
PM system software which helps in giving visibility to different projects in different centres of
the organization. It is assumed that the project manager generally acts as liaison between both the
internal as well as externa; project stakeholders and it is expected that the work of Time sheet
implementation will be finished within 8 months of time span by using budget of around
$2,500,000.
2. Gantt chart
Gantt chart is one of the useful graphical tools that helps in reflecting the activities that
are performed against time. One of the major advantages of using Gantt chart is that one can be
able to visualize everything at a single place. Communication is generally considered integral
part for the project which generally helps in improving the relationship with the project team
members. In addition to this, it helps in avoiding resource overload and further assists in
measuring the project progress and as a result the team members can be able to update the
completed percent of each of the project activities (Ong, Wang and Zainon 2016). This particular
information is considered quite important for determining whether the entire project headed in
the correct direction or not. Furthermore, the issue that is associated with the overlapping of the

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activities as well as task dependencies can be avoided. Additionally, the project managers can be
able to practice proper time management by utilizing the Gantt chart. In order to implement the
time-sheet, 8 months’ time is needed which is showcased with the help of below Gantt chart.
Figure 1: Gantt chart

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(Source: Created by Author)
3. Network diagram
The network diagram of the project generally helps in reflecting activities which are
mainly interrelated with one another from the starting of the project. In addition to this, it helps
in reflecting the workflow of the project activities and generally assists in determining different
types of opportunities in order to compress the project schedule effectively (Costantino, Di
Gravio and Nonino 2015). One needs to shorten the duration of the activities of the project when
the project is behind schedule for finishing the project on time then with the help of the network
diagram, the schedule can be compressed (Nisar and Suzuki 2015). It generally helps in
reflecting the activities of the project as well as the total path from the start till the beginning of
the project till the end and therefore it is considered as one of the good instruments that helps in
reflecting the progress of the project.
The network diagram that is provided in the form of critical path method generally helps
in reflecting that the entire project will get executed within 8 months that is 160 days. In addition
to this the diagram showcases ES, EF, LS, LF and slack for each of the project activity. The
network which is shown helps in properly estimating the time and generally helps in making
proper decisions by giving proper opportunities for successful optimization.
Figure 2: Network diagram

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(Source: Created by Author)
4. Identification of six milestones using SMART criteria
The six different milestones which are needed in the project are generally reflected below
with the help of SMART criteria.
 Specific: As the committee of the organization is interested to understand how time is
mainly used in different centres therefore, they want to implement Time sheet system
which will further helpful in providing visibility into the projects across different
software centres.
 Measurable: As the implemented time sheet system helps in keeping track on the time of
the project therefore the time that is needed for a specific project by each of the centre
can be identified easily.
 Attainable: The organization wants to capture various types of metrics including
resource optimization, cost of quality as well as PM excellence which is attainable.
 Realistic: The project will be completed within budget and time that is very much
feasibility as well as realistic.
 Time bound: The time sheet for the time Inc. organization will get completed within 8
months of time.