Project Selection Method and Initial Documents: UberNewDriver App
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This essay discusses the project selection method and initial documents for the UberNewDriver App, including the impact of project management knowledge areas, best practices, and PMI code of ethics.
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Running head: PROJECT SELECTION METHOD Project Selection Method and Initial Documents: UberNewDriver App Name of the student: Name of the university:
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1PROJECT MANAGEMENT Introduction Nowadays technology has become one of the most challenging but effective approach used for economic business success ad competitive advantages as well. With E-commerce success M-commerce has also become a platform that leads any company to move towards success lines. For this specific essay the project that has been nominated is Uber’s NewDriver App. It is assumed that if all the functional and operational components are considered for this project then the Uber drivers would definitely meet the business success (Kerzner & Kerzner, 2017). The operational challenge for the Uber drivers are actually occurring because of the enhancing frequency of login, frequently increasing users and numbers of keywords. In order to accomplish any project within estimated timeline and budget the PMBOK knowledge areas that the project managers and the project team members require to monitor are communicationplan,qualitymanagement,riskmanagement,scope,budgetandtime management plan (Kaiser, El Arbi & Ahlemann, 2015). If each of these knowledge management areas is properly followed then the Uber app will mitigate the potential risk factors. This essay demonstrates the impact of project management knowledge area in business success, the relevance impact of best project management practices and PMI code of ethics while developing the app. PMBOK knowledge area and process details Impact of best practice in project management practices and PMI’s code of ethics Based on the project objectives, aim and goals the project manager and project team members are required to develop the project scope statement. This developed project scope
2PROJECT MANAGEMENT statement must be shared successfully among the project team members to let them all aware about the project requirements. In order to reduce the workload from the project team members the large complex project should be divided into smaller activities. Based on skill sets and knowledge individuals should be assigned to each of the project activities. It becomes the responsibility of the project team members to accomplish the activities within the assigned timeline and budget (Brioso, 2015). According to the PMI code of ethics the behavioral approaches that have to be possessed by the project team members are professionalism and honesty,eachoftheprojectteammembersarerequirestobecompletelyfocusedand professional towards their assigned job roles. The PMI knowledge areas those are to be analyzed while developing Uber NewDriver Mobile app are advanced communication strategies, procurement planning, scope management, risk management, budget management and time management plan. It is the role of the project manager to ensure that all the associates are using open communication approach while interacting to each other and even with the project manager (Karaman & Kurt, 2015). The chances of risk occurrence will reduce if each of these components and factors are professionally followed by the project team members and managers. Comparison and contrast among different project selection methods: Different types of project selection method are there used for successful implementation of any project ad some of the project selection methods are elaborated in the below section: Constrained optimization method:Generally, in order to accomplish large project this specific project selection is used by the project managers. For measuring and calculating project performance some formulae are used in this method.The different testing methods applied to
3PROJECT MANAGEMENT measure the performance of any project are non linear programming, linear programming, integer programming and multiple objectives programming. Economic model:This method is not differs a lot from the cost benefit ratio. This method calculates the difference between the total capital that has been invested and the revenue that has been obtained from the project (Joslin & Müller, 2015). The amount of commercial benefit can be calculated with the help of this method.Whether the UberNewDriver app is performing successfully or not can be measured with the help of this specific formula. Payback period:The payback period is referred to as one of the most essential method needstobeusedbytheprojectmanagerstocalculatetheprojectsuccessandproject performance. This method calculates the total time that will be required to regain the amount that has been invested for the design and development of the project of new mobile application for the Uber Drivers. This method mainly calculates the amount of Return on Investment (ROI). Cost benefit analysis: The name cost benefit analysis itself defines that it is the ratio between invested cost and time that helps to obtain commercial benefit (Tian, Sun Ye & Yang, 2016). This is one of the simple methods and with the help of this calculation the project manager would be able to measure the return value assuming from the project success. Scoring model:This model is used by the companies to compare status of its different ongoing projects at a time. The stakeholders associated to any project are mostly prefers this particular model. Discounted cash flow: In order to calculate the yearly profit that can be generated from any project the discounted cash flow model is used by the project managers. The NPV for any
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4PROJECT MANAGEMENT project can be measured with the help of this formula with an input of discount rate, time, cash flow and initial investment. Among these above mentioned project selection methods the UberNewDriver App developers are needed to choose the payback period (Badewi, 2016). The payback period will let the company measure the actual time that might be required to return the net cost invested by the project sponsors to develop the project. Project management process Different project management processes are there and them the Driver app developers are needed to choose the most suitable method for commercial success. Project charter: The project charter is the basic draft submitted by the project team members and approved by their project manager (Badewi, 2016). The project charter holds the scope statement, aim, goal, objectives, timeline, milestone, budget and expected outcome from the project. Project responsibilities:For successful completion of the project the project manager and the project team members are required to assign individual roles and responsibilities. After measuring the skill set and knowledge of the project team members the responsibilities are to be assigned for the project activities. Project review: Project review is referred to as one of the most essential part of project control and monitoring phase (McNeil, Frey & Embrechts, 2015). Whether the project is progressing towards the expected direction or not is measured with the help of timely project
5PROJECT MANAGEMENT review. The best suited reporting format can be used for the project is review of the project status report. Risk management tools and techniques If all the project components are not properly managed and utilized accurately then it may possible that major risks are arising in the project design and development phase. The tools and techniques used for managing the potential project risks are as follows: Risk register: Developing a risk register at the project initiation phase is referred to as the best suited action for managing risk. The risk register defines the potential risks, its impact and possibilities of occurrence. Based on the impact and probability the scores for each risks are also assigned on a scoring scale of 1 and 25. Root cause analysis: Root cause analysis is the other risk management method that is widely used by the project managers while conducting any project. This technique helps to point out the reasons for which a risk might occur in the business activities (Cagliano, Grimaldi & Rafele, 2015). At the project initiation phase this types of analysis method are needed to be used to identify possible roots for risks. Variance and trend analysis:The variance and trend analysis identifies the variance between the schedule and cost baseline to evaluate the actual cost (Joslin & Müller, 2015). If this value increases then the chances of risk occurrence also increases which means that these two factors are directly proportional to each other.
6PROJECT MANAGEMENT Risk audit: After occurrence of a risk this specific tool is applied by the project managers to measure the impact of this risk.Based on the complexity and negative impact each of the identified risks are prioritized.
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7PROJECT MANAGEMENT Use of risk register is the best suited option for the Uber drivers to manage the project management oriented risks completely. Conclusion The above discussion concludes that, with the increasing time the numbers of users for Uber are increasing. The current report says that currently the numbers of available users for the Uber are around 3 Million. If the project management practices are professionally managed with PMI code of ethics then the project will definitely meet the expectation of the clients. The project selection method that has to be chosen by the project manager while conducting the app development project is payback period. It will help the project manager to identify the net time within which the company would be able to get back all the net investment. The project management process is also needed to be followed by the project managers. In addition to this, in order to manage the risks the mist suitable technique and tool needs to be adopted by the project executive is risk register.
8PROJECT MANAGEMENT References Badewi, A. (2016). The impact of project management (PM) and benefits management (BM) practicesonprojectsuccess:Towardsdevelopingaprojectbenefitsgovernance framework.International Journal of Project Management,34(4), 761-778. Binder, J. (2016).Global project management: communication, collaboration and management across borders. Routledge. Brioso, X. (2015). Integrating ISO 21500 guidance on project management, lean construction and PMBOK.Procedia Engineering,123, 76-84. Cagliano,A.C.,Grimaldi,S.,&Rafele,C.(2015).Choosingprojectriskmanagement techniques. A theoretical framework.Journal of Risk Research,18(2), 232-248. Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity.International Journal of Project Management,33(2), 291-298. Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts.International Journal of Project Management,33(6), 1377-1392. Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts.International Journal of Project Management,33(6), 1377-1392.
9PROJECT MANAGEMENT Kaiser, M. G., El Arbi, F., & Ahlemann, F. (2015). Successful project portfolio management beyondprojectselectiontechniques:Understandingtheroleofstructural alignment.International Journal of Project Management,33(1), 126-139. Karaman, E., & Kurt, M. (2015). Comparison of project management methodologies: prince 2 versusPMBOKforitprojects.Int.JournalofAppliedSciencesandEngineering Research,4(4). Kerzner, H. & Kerzner, H.R., (2017).Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute. Kerzner, H., (2017).Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons. McNeil, A. J., Frey, R., & Embrechts, P. (2015).Quantitative Risk Management: Concepts, Techniques and Tools-revised edition. Princeton university press. Tian, Y., Sun, M., Ye, Z., & Yang, W. (2016). Expanded models of the project portfolio selectionproblemwithlossindivisibility.JournaloftheOperationalResearch Society,67(8), 1097-1107.