Information Systems Project Management Report: Time Inc. Project Plan

This report details a project plan for Time Inc. to implement a time sheet system across 15 software centers. The report includes a Gantt chart for activity visualization, a network diagram for workflow analysis, and six milestones defined using the SMART criteria. It provides a resources table, project budget, and a RACI table to define roles and responsibilities. The report also identifies five potential project risks, along with a probability and impact matrix, and mitigation strategies. The project is expected to be completed within 8 months with a budget of $2,500,000, focusing on metrics like cost of quality and resource utilization. The report also includes a WBS, stakeholder register, stakeholder management strategy, and financial plan.

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

1
PROJECT MANAGEMENT
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

2
PROJECT MANAGEMENT
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

3
PROJECT MANAGEMENT
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

4
PROJECT MANAGEMENT
(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

5
PROJECT MANAGEMENT
(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.

6
PROJECT MANAGEMENT
5. Resources table
The table that is provided below mainly showcases on the resources that are used in the
project including information about the type of resources as well as standard rate.
Resource
Name
Type
Material
Label
Initials Group
Max.
Units
Std. Rate
Accrue
At
Base
Calendar
Project
manager
Work P 100% $ 55.00/hr Prorated Standard
Project
planner
Work P 100% $ 50.00/hr Prorated Standard
Financial
manager
Work F 100% $ 45.00/hr Prorated Standard
HR manager Work H 100% $ 45.00/hr Prorated Standard
Risk analysis
team
Work R 100% $ 40.00/hr Prorated Standard
PM staffs Work P 100% $ 40.00/hr Prorated Standard
Workers Work W 100% $ 40.00/hr Prorated Standard
IT manager Work I 100% $ 50.00/hr Prorated Standard
Tester Work T 100% $ 45.00/hr Prorated Standard
Contractor Work C 100% $ 40.00/hr Prorated Standard
Hardware Material H
$
800,000.00
Prorated

7
PROJECT MANAGEMENT
Software Material S
$
824,200.00
Prorated
Other
materials
Material O
$
800,000.00
Prorated
6. Project budget
The project budget table which is provided below helps in showcasing that the time sheet
will be successfully implemented within 8 months of time by utilizing budget of around $2,
500,000.
WBS Task Name Duration Start Finish Resource Names Cost
0
Implementation
of Time sheet
system in Time
Inc.
8 mons
Mon 20-
01-20
Fri 28-08-
20
$ 2,500,000.00
1
Project
initiation phase
1 mon
Mon 20-
01-20
Fri 14-02-
20
$ 8,000.00
1.1
Business case
development
6 days
Mon 20-
01-20
Mon 27-
01-20
Project manager $ 2,640.00
1.2
Feasibility
study
4 days
Tue 28-
01-20
Fri 31-01-
20
Financial manager $ 1,440.00
1.3
Project charter
establishment
6 days
Mon 03-
02-20
Mon 10-
02-20
Project planner $ 2,400.00
1.4 Determining 3 days Tue 11- Thu 13-02- HR manager $ 1,080.00

8
PROJECT MANAGEMENT
stakeholders for
the project
02-20 20
1.5
Getting
approval for the
project charter
1 day
Fri 14-
02-20
Fri 14-02-
20
Project manager $ 440.00
1.6
Milestone 1:
Completion of
initiation phase
0 mons
Fri 14-
02-20
Fri 14-02-
20
$ 0.00
2 Planning phase 2 mons
Mon 17-
02-20
Fri 10-04-
20
$ 15,240.00
2.1
Project plan
development
10 days
Mon 17-
02-20
Fri 28-02-
20
Project planner $ 4,000.00
2.2
Resource
optimization
6 days
Mon 02-
03-20
Mon 09-
03-20
HR manager $ 2,160.00
2.3
Resource plan
development
5 days
Tue 10-
03-20
Mon 16-
03-20
HR manager $ 1,800.00
2.4 Financial plan 7 days
Tue 17-
03-20
Wed 25-03-
20
Financial manager $ 2,520.00
2.5
Quality plan
development
4 days
Thu 26-
03-20
Tue 31-03-
20
HR manager $ 1,440.00

9
PROJECT MANAGEMENT
2.6
Development
of risk
management plan
5 days
Wed 01-
04-20
Tue 07-04-
20
Risk analysis team $ 1,600.00
2.7 Communication
plan development
3 days
Wed 08-
04-20
Fri 10-04-
20
Project manager $ 1,320.00
2.8
Getting
approval for
project and
financial plan
1 day
Wed 08-
04-20
Wed 08-04-
20
Project planner $ 400.00
2.9
Milestone 2:
Completion of
planning phase
0 days
Wed 08-
04-20
Wed 08-04-
20
$ 0.00
3
Execution
phase
4.95
mons
Thu 09-
04-20
Tue 25-08-
20
$ 2,473,360.00
3.1
Hiring
consultant to
determine time
sheet system
9 days
Thu 09-
04-20
Tue 21-04-
20
HR manager $ 3,240.00
3.2
Recruiting
staffs
11 days
Wed 22-
04-20
Wed 06-05-
20
HR manager $ 3,960.00
3.3 Embedding 10 days Thu 07- Wed 20-05- PM staffs $ 3,200.00

10
PROJECT MANAGEMENT
PM excellence 05-20 20
3.4
Working with
the PM champions
5 days
Thu 21-
05-20
Wed 27-05-
20
Workers $ 1,600.00
3.5
Short listing
time sheet system
7 days
Thu 28-
05-20
Fri 05-06-
20
Workers $ 2,240.00
3.6
Gaining
agreement with the
stakeholders
8 days
Mon 08-
06-20
Wed 17-06-
20
Contractor $ 2,560.00
3.7
Negotiating
with the vendor
7 days
Thu 18-
06-20
Fri 26-06-
20
Contractor $ 2,240.00
3.8
Getting
assistance from the
purchasing
department
6 days
Mon 29-
06-20
Mon 06-
07-20
HR manager $ 2,160.00
3.9
Implementation of
the time sheet
system
20 days
Tue 07-
07-20
Mon 03-
08-20
IT manager, Workers,
Hardware [1],Other
materials[1],Software[1]
$ 2,438,600.00
3.10 Milestone 3:
Completion of
implementation
phase of the
0 days Mon 03-
08-20
Mon 03-
08-20
$ 0.00

11
PROJECT MANAGEMENT
project
3.11
Measuring
ROI
5 days
Tue 04-
08-20
Mon 10-
08-20
Financial manager $ 1,800.00
3.12
Providing
training to the
users
10 days
Tue 04-
08-20
Mon 17-
08-20
Project manager $ 4,400.00
3.13
Milestone 5:
Completion of
training
0 mons
Mon 03-
08-20
Mon 03-
08-20
$ 0.00
3.14
Maintenance
of the software
centres
5 days
Tue 11-
08-20
Mon 17-
08-20
Tester, Workers $ 3,400.00
3.15
Transitioning
the system
4 days
Tue 18-
08-20
Fri 21-08-
20
IT manager $ 1,600.00
3.16
Determining
further project
3 days
Tue 18-
08-20
Thu 20-08-
20
Project planner $ 1,200.00
3.17
Testing the
system
2 days
Mon 24-
08-20
Tue 25-08-
20
Tester $ 720.00
3.18
Getting
approval for the
performance
1 day
Fri 21-
08-20
Fri 21-08-
20
Project manager $ 440.00
3.19 Milestone 4:
Completion of
0 days Tue 25- Tue 25-08- $ 0.00