BABS Project Management Project 2: Megabyte Software Report

This report provides a comprehensive analysis of project management principles applied to Megabyte Software, Inc., covering key areas such as outsourcing, work breakdown structure (WBS), stakeholder analysis, milestone reporting, and lessons learned. The evaluation includes the advantages and disadvantages of outsourcing, a detailed WBS outlining project tasks and subtasks across five phases (Initiation, Planning, Execution, Monitoring & Controlling, and Closing), and a stakeholder analysis identifying key stakeholders and their management strategies. The report also features a milestone report tracking project progress and an assessment of functionality trade-offs compared to hiring additional staff. Finally, it presents a lessons-learned report summarizing key insights from the project, incorporating input from various stakeholders to enhance future project management practices. Desklib provides students with access to similar solved assignments and project reports.

BABS
Project Management
Project 2

Contents
INTRODUCTION...........................................................................................................................1
PART 1............................................................................................................................................1
1. Evaluating advantages and disadvantages of outsourcing of project.......................................1
PART 2............................................................................................................................................2
2. Create a Work Breakdown Structure (WBS) with all the major tasks you have identified. In
doing so, you are required to identify subtasks at least up to level 3 under each project phase.
You are free to add any relevant additional tasks. You can use the five phases of project
management, Initiation, Planning, Execution, Monitor and Controlling and Closing in creating
Work Breakdown Structure.........................................................................................................2
3. Provide a stakeholder analysis by identifying at least 5 stakeholders. Stakeholder register
and management strategy must be created to achieve this..........................................................2
TASK 3............................................................................................................................................4
4. Prepare a milestone report for the project based on information or functionalities you have
identified. Additional milestones can be added, if needed, to make the report more meaningful
......................................................................................................................................................4
TASK 4............................................................................................................................................5
5. Critically evaluate what functionality and/or tasks can be compromised compared to hiring
additional staff with extra funding in the current project............................................................5
TASK 5 ...........................................................................................................................................6
6. Prepare a lessons-learned report for the entire project. Include input from all stakeholders in
summarizing the lessons learnt....................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
Project management refers to the application of methods, processes, knowledge, skills
and experience in order to achieve specific objectives of project according to its acceptance
criteria within agreed constant (Bjorvatn and Wald, 2018). For this report, selected company is
Megabyte Software, Inc., which is located in Irvine, CA, United States. The following report is
described in 5 Parts which includes Initiation, Planning, Execution, controlling and closing.
PART 1
1. Evaluating advantages and disadvantages of outsourcing of project
Outsourcing refers to a business practice in which third party is be hired by the company
in order to control and perform their certain tasks and operations in effective manner. In context
of Megabyte Software, Inc., outsourcing helps them in order to perform their certain tasks in
effective manner. Its advantages and disadvantages are described below:
Advantages of outsourcing-
Cost factors- It helps companies to decrease their cost of the product as well as earn
maximum profit in effective manner. In respect of Megabyte Software, Inc., they can reduce
their product cost by using outsourcing in order to complete their task in effective manner as well
as earn maximum profit in effective manner.
Finding the right skill set- Companies can improve their product quality in effective
manner by using outsourcing effectively (Delisle, 2019). Outsourcing helps companies in order
to find the right skills employees in effective manner. In regards of Megabyte Software, Inc., it
allows them to leverage those high skill sets which are needed to hire for full time.
Disadvantages of outsourcing-
Communication- It creates problems for the company due to improper communication
within organisation. Managers are not communicated with the outsource employees effectively
so, it makes issues for the completion of project in effective manner. In case of Megabyte
Software, Inc., its can affects their overall work due improper communication between the
outsourcing employees.
Security risks- The misuse of personal data is type of security risk that effects many
companies and individual all over the world. While outsourcing a project companies faces high
amount of security risk. In aspect of Megabyte Software, Inc., it makes their personal
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information to be get misused or can passed to unauthorised persons which makes complication
in order to complete task in effective manner.
PART 2
2. Create a Work Breakdown Structure (WBS) with all the major tasks you have identified. In
doing so, you are required to identify subtasks at least up to level 3 under each project
phase. You are free to add any relevant additional tasks. You can use the five phases of
project management, Initiation, Planning, Execution, Monitor and Controlling and Closing
in creating Work Breakdown Structure.
Work Breakdown structure refers to the project management tools that helps companies
by providing step-by-step methods in order to complete the large projects in effective manner
(Galli, 2018). In case of Megabyte Software, Inc., its different task are classified in 5 different
phases in order to construct its Work Breakdown Structure are described below:
3. Provide a stakeholder analysis by identifying at least 5 stakeholders. Stakeholder register and
management strategy must be created to achieve this
Stakeholder analysis refers to the systematic process of collecting and analysing
qualitative information in order to determine those persons whose interests are important for
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developing and implementing any policy. In accordance with Megabyte Software, Inc., its
important stakeholders are described below:
Shareholders- It describes those person who has its own stock in the Megabyte
Software, Inc. as well as decision making authority (Hair and Sarstedt, 2021). They have strong
interest in company because their money or investment relies on company's success in effective
manner.
Customers- They are largest stakeholders for the Megabyte Software, Inc. because they
directly impacted through the quality and availability of the company's products and services in
effective manner.
Government- Federal and state government also plays a role of stakeholders for the
Megabyte Software, Inc. They collect different types of taxes from the profit of the company
such as sales tax, payroll tax and income tax.
Employees- They are considered stakeholders for the Megabyte Software, Inc. because
they are rely on business in order to have job security, earn salary, take various advantages and
perform their work in safe environment in effective manner (Mavi and Standing, 2018).
Bank- They are also considered important stakeholders for the Megabyte Software, Inc.
if they take loan from particular bank in order to operate their business in effective manner.
Stakeholder analysis of Megabyte Software, Inc.
Power High Shareholders Government
Low Customers,
Employees,
Bank
High Low
Interest
Creation of Stakeholder register and management strategy to achieve this-
Stakeholders Power Interest Management
strategy
Shareholders High High It plays an important
role in the company in
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order to make decision
that helps company to
operate their business
in effective manner.
Employees Lower High They helps companies
to complete their task
as well as helps them
to earn maximum
profit.
Government High Lower They make companies
to follows their rules
and regulation in order
to run their business.
Customers Lower High It makes companies to
produce effective
products and service
that fulfil their
demands and wants
effectively.
Bank Lower Lower They help company to
run their business
smoothly by taking
loan from the bank.
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TASK 3
4. Prepare a milestone report for the project based on information or functionalities you have
identified. Additional milestones can be added, if needed, to make the report more
meaningful
Milestone report refers to the document that progress the specific requirements of the
project of each milestones in effective manner (Pan and Zhang, 2021). In context with Megabyte
Software, Inc., its milestones report are described below:
Reference number- It describes that each milestones report has unique reference
numbers that makes easier future references in effective manner.
Milestones- It describes the description of those task which is needed to complete that
are affected by the accident cause within an organisation.
Deliverables- It describes the list in which due dates of each milestones should be
mentioned along the side of each milestones.
Expected date- It describes tentative date in which milestones can be achieved in
effective manner.
Tolerance- It describes number of days or weeks in which milestones can be delayed
without causing any damage to the overall project.
Trends- It describes the things that progress in achieving the milestones in effective
manner.
Actual date- It describes those date in which a milestone can achieved.
Variance- It describes the difference between actual date and expected date in order to
achieve milestones.
Milestones status- It describes the current status of each milestones.
Deliverables status- It describes the deliverables status of each milestones.
TASK 4
5. Critically evaluate what functionality and/or tasks can be compromised compared to hiring
additional staff with extra funding in the current project
In order to complete project of Megabyte Software, Inc. in effective manner their team
want to comprise in certain function or tasks. It makes the management of the company to
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analyse the work related to Mark to other team members because he was not able to complete its
task due to accident (Picciotto, 2020). The function that need to be performed by its management
to manage its task as well as save extra fund are described below:
Manage task in between other employees- The task which is need to be performed by
the those team member of Megabyte Software, Inc. who is in bed rest are need to divide in other
employees. It helps management to complete its task in effective manner as well as save extra
fund that is needed in order to hire additional staff for it.
Motivate other team members- In order to make other team members to perform task of
its other team member, it is important for the management of Megabyte Software, Inc. to
motivate other team members in effective manner. By the help of motivation, they perform that
task effectively as well as helps in completing the project in efficient manner.
TASK 5
6. Prepare a lessons-learned report for the entire project. Include input from all stakeholders in
summarizing the lessons learnt
From the above report, it is learned that outsourcing helps companies to operate their
certain task and function with the help of other person or outsiders in effective manner. It is
analyse that project of Megabyte Software, Inc. is only completed effectively if its shareholders
provide proper fund in the company (Bjorvatn and Wald, 2018). Its employees are too important
in completion of project that provides their all efforts in order to complete the task in effective
manner. Bank also helps in completion project by providing loan to the company so, they
perform their task related to project in smooth manner. The service provided to its customers is
effective that makes company to achieve effective profit in order to complete the project in
effective manner. By its earned profit, they pay certain taxes to the government as well as follow
their all guidelines in order to complete its project in effective manner.
CONCLUSION
From the above mentioned report, it is concluded that project management helps
companies to operate its projects effectively in order to achieve their task in effective manner.
Cost factors and finding the right skills set are the advantages of outsourcing. Communication
and security risk are disadvantages of outsourcing. Customers, employees, government,
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shareholders and bank are most important stakeholders of the company. Milestones reports helps
companies to plan, communicate and implement their each tasks that helps them to complete a
project in effective manner.
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REFERENCES
Books and Journals:
Bjorvatn, T. and Wald, A., 2018. Project complexity and team-level absorptive capacity as
drivers of project management performance. International Journal of Project
Management, 36(6), pp.876-888.
Delisle, J., 2019. Uncovering temporal underpinnings of project management
standards. International journal of project management, 37(8), pp.968-978.
Galli, B.J., 2018. Application of system engineering to project management: How to view their
relationship. International Journal of System Dynamics Applications (IJSDA), 7(4),
pp.76-97.
Hair, J.F. and Sarstedt, M., 2021. Explanation Plus Prediction—The Logical Focus of Project
Management Research. Project Management Journal, p.8756972821999945.
Mavi, R.K. and Standing, C., 2018. Critical success factors of sustainable project management in
construction: A fuzzy DEMATEL-ANP approach. Journal of cleaner production, 194,
pp.751-765.
Pan, Y. and Zhang, L., 2021. A BIM-data mining integrated digital twin framework for advanced
project management. Automation in Construction, 124, p.103564.
Picciotto, R., 2020. Towards a ‘New Project Management’movement? An international
development perspective. International Journal of Project Management, 38(8), pp.474-
485.
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