Project Plan Report: Time Inc. - ISY2004, Initial Project Plan Details

This report presents an initial project plan for Time Inc., a global firm implementing a time sheet system across its software hubs. The plan includes a project charter outlining the scope, objectives, and goals, such as selecting a vendor and training staff. It features a detailed scope statement, identifying in-scope and out-of-scope requirements. The Work Breakdown Structure (WBS) illustrates project phases and tasks. A stakeholder register identifies key stakeholders and their influence. A stakeholder management strategy emphasizes communication. The plan considers assumptions like budget approval and employee support, along with constraints like budget limits and a project timeline of eight months. The project aims to optimize resource management and improve project management metrics. The report concludes with a bibliography of relevant project management resources.

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.

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1.5. Work Breakdown Structure (WBS)
The WBS of a Time Sheet System Implementation project is specified in the figure
followed-

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Figure 1: Demonstrating the WBS of the Time sheet Implementation Work

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The above table identifies the tasks that are needed to be implemented for the time sheet
implementation project. Since this is an initial project plan, there are chances that the project
might face certain changes. The predecessor column identifies the dependencies between the
project tasks that are to be implemented. The following figure illustrates the WBS of the
undertaken project-
Figure 2: Demonstrating the WBS of the Time sheet Implementation Project
The WBS illustrates the different phases of the time sheet employment process and the
tasks that are to be completed in each of the phases.
2. Stakeholder Register
Stakeholder register is a document that provides an idea of the individuals that are
affected the outcome of the project (Eskerod and Jepsen 2016). A stakeholder register is mainly
developed at the beginning of the project so that the engaging the identified stakeholders with the
time sheet system project can be easily identified. The following table provides an idea of the

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stakeholders linked with the time sheet system project and further outlines the power and interest
of the stakeholders in the project.
Stakeholders Power/Influence (On a scale
of 1 – 5)
Interest in the Project (On a
scale of 1 – 5)
Steering Committee 5 4
Anurag Mehta 4 4
Project Manager 4 3
CIO John Clinton 4 4
Managing Director 4 3
Software Vendor 2 3
Table 1: Showing the Stakeholder Register
The above table identifies the key stakeholder of the project undertaken by Time Inc. The
involvement of all the above mentioned stakeholders are quite high in the project. The risk
register indicates the interest and the power of the stakeholder in the project.
3. Stakeholder Management Strategy
Proper engagement of the stakeholders with the project is compulsory to confirm that the
expectations of the stakeholders from an undertaken project are met. In the previous section, the
key stakeholders linked with the project are identified. It is necessary to formulate an accurate
stakeholder management strategy to ascertain that the interests and the expectations of the
stakeholders are fulfilled.

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The foremost strategy is to ascertain proper communication among each of the
stakeholders of the project. For that, it is critical to develop a communication plan that is needed
to be followed by each of the stakeholders to discuss the project progress, issues faced or any
project concerns (Sanghera 2019). This will ensure the needed transparency in communication
project and will further improve the collaboration of the project’s investors and participants with
the undertaken project of Time Inc.
4. Assumptions and Constraints
4.1. Assumptions Considered
There are certain expectations that are considered in development of this initial project
plan. The assumptions are as follows-
1. The permission of the project is already granted and the budget of the project is
approved
2. The project will gain a complete support from the staffs and employees of all the
software hubs of Time Inc.
4.2. Project Constraints
The initial project plan that is developed, has taken into consideration, certain key
constraints, which are indicated as follows-
1. The set project’s budget cannot exceed $2,500,000
2. The entire project is needed to be accomplished in an allocated time of eight months
Conclusion

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The initial project plan that is developed outlines the key objectives and the goals of the
project undertaken by Time Inc. A project charter is prepared that provides an idea of the key
tasks to be completed and the stakeholders linked with the project.

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Bibliography
Ahmed, A., 2016. Software project management: a process-driven approach. Auerbach
Publications.
Eskerod, P. and Jepsen, A.L., 2016. Project stakeholder management. Routledge.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley &
Sons.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Leach, L.P., 2014. Critical chain project management. Artech House.
Marchewka, J.T., 2016. Information technology project management: Providing measurable
organizational value. John Wiley & Sons.
Meredith, J.R., Mantel Jr, S.J. and Shafer, S.M., 2017. Project management: a managerial
approach. John Wiley & Sons.
Sanghera, P., 2019. Monitoring Stakeholder Engagement and Communication. In PMP® in
Depth (pp. 519-533). Apress, Berkeley, CA.