PRM701 Project Management Principles: Australian Tree Corp Project

This report outlines a project management plan for Australian Tree Corp (ATC), focusing on genetically modifying trees to enhance market value. The project involves establishing a Research and Development laboratory to conduct genetic modification experiments. Key objectives include achieving growth in the market with enhanced profitability, developing at least three genetically modified trees within two years, and achieving breakthroughs in genetic modification research within 3-4 months after project completion. The project's deliverables encompass a fully functional R&D lab. The report details project milestones, requirements, limits, and a work breakdown schedule (WBS). It also addresses risk management, including funding and ethical considerations, and provides a comprehensive project budget. A communication management plan is included, outlining internal and external communication strategies and specific plans for information dissemination. The report concludes with recommendations for successful project implementation.

Running Head: PROJECT MANAGEMENT PRINCIPLES
Australian Tree Corp: Project for Business Benefits
Name of the Student
Name of the University

1PROJECT MANAGEMENT PRINCIPLES
Table of Contents
1. Project Background.....................................................................................................................2
1.1 Background of the Project and Business Overview..............................................................2
1.2 Goal of the Proposed Project.................................................................................................2
1.3 SMART Objectives of the Project.........................................................................................2
1.4 Project Deliverable................................................................................................................3
1.5 Strategic Alignment of Project..............................................................................................3
2. Project Schedule..........................................................................................................................3
2.1 Milestones..............................................................................................................................3
2.2 Project Requirements.............................................................................................................4
2.3 Limits and Exclusions............................................................................................................4
2.4 Work Breakdown Schedule...................................................................................................4
3. Risk Management........................................................................................................................7
4. Project Budget.............................................................................................................................7
5. Communication Management Plan............................................................................................11
5.1 Communications Strategy....................................................................................................11
5.1.1 Internal Information Management................................................................................11
5.1.2 Internal Stakeholders....................................................................................................11
5.1.3 External Stakeholders...................................................................................................11
5.2 Communication Plan...........................................................................................................12

2PROJECT MANAGEMENT PRINCIPLES
5.2.1 Internal Information Management Plan........................................................................12
5.2.2 External Communications Plan....................................................................................13
6. Recommendations......................................................................................................................13
Bibliography..................................................................................................................................14

3PROJECT MANAGEMENT PRINCIPLES
1. Project Background
1.1 Background of the Project and Business Overview
The primary background of this project is the timber market in which Australian Tree
Corp (ATC) is operating. The company grows and sells trees in some allocated properties and
although the business is profitable, there are several avoidable and unavoidable issues that are
constantly having negative impact on the organisation’s business. Most of these issues are arising
from the industry the company is operating in and it requires new strategic direction for further
growth and increased profitability.
Among several proposed strategic directions, the one chosen for this project is genetic
modification of the trees. In order to achieve this goal, the company needs to set up a Research
and Development laboratory where the genetic modification experiments will be performed.
1.2 Goal of the Proposed Project
The end goal of the project is to grow genetically modified trees that are more valuable in
the market than the normal trees.
1.3 SMART Objectives of the Project
The SMART objectives of the project are as follows.
Specific – Growth in the market with enhanced profitability
Measurable – Growth of at least 3 genetically modified trees in the next two years
Achievable – Breakthrough in genetic modification research

4PROJECT MANAGEMENT PRINCIPLES
Realistic – Development of a genetic modification in every 3 months of research
Time – Achieve breakthrough in research in 3-4 months after project completion
1.4 Project Deliverable
The deliverable of the project is a Research and Development Laboratory where the
genetic modification research will be conducted.
1.5 Strategic Alignment of Project
2. Project Schedule
2.1 Milestones
The milestones of the project are as follows.
 Milestone 1: Approval for Proceeding with the Project
 Milestone 2: Project Ready for Execution
 Milestone 3: R & D Lab Ready
 Milestone 4: R & D Staffing Complete
 Milestone 5: Research Planning Complete
 Milestone 6: Staff and Operations Management Plan Complete
 Milestone 7: Clients Informed
 Milestone 8: Stakeholder Sign Off

5PROJECT MANAGEMENT PRINCIPLES
2.2 Project Requirements
The project requires the company to procure a property where the research lab can be set
up. Furthermore, suitable genetic modification equipments needs to be set up at the lab for aiding
the research.
2.3 Limits and Exclusions
The scope of the project is limited and will allow research for only 1 genetic modification
for 1 species at a time.
Genetic modification of alternative trees that are not grown by the company is excluded
from the project.
2.4 Work Breakdown Schedule
WBS Task Name Duration Start Finish Predecessors
0 Genetic Reconfiguration for the Wood Trees 211 days Mon 7/1/19 Mon 4/20/20
1 Preliminary Planning and Discussion 42 days Mon 7/1/19 Tue 8/27/19
1.1 Develop a List of Issues faced by the
Company 3 days Mon 7/1/19 Wed 7/3/19
1.2 Conduct Basic Study of Tree Genetics and its
Impact in the Current Market 15 days Thu 7/4/19 Wed 7/24/19 2
1.3 Develop Proposal Regarding Plant Genetics
Study and Reconfiguration 5 days Thu 7/25/19 Wed 7/31/19 3
1.4 Call Management Members for Meeting 2 days Thu 8/1/19 Fri 8/2/19 4
1.5 Discuss the Study Findings 2 days Mon 8/5/19 Tue 8/6/19 5
1.6 Discuss the Benefits of Genetic Modification
of the Trees 2 days Wed 8/7/19 Thu 8/8/19 6
1.7 Discuss the Feasibility of Such a Project 2 days Fri 8/9/19 Mon 8/12/19 7
1.8 Discuss the Investment Required for the
Project 2 days Tue 8/13/19 Wed 8/14/19 8
1.9 Discuss the Demands of the Genetically
Modified Trees in the Market 2 days Thu 8/15/19 Fri 8/16/19 9

6PROJECT MANAGEMENT PRINCIPLES
1.10 Reach Agreement regarding the Project 2 days Mon 8/19/19 Tue 8/20/19 10
1.11 Documentation of the Meeting Results 5 days Wed 8/21/19 Tue 8/27/19 11
1.12 Milestone 1: Approval for Proceeding with
the Project 0 days Tue 8/27/19 Tue 8/27/19 12
2 Project Plan Development 25 days Wed 8/28/19 Tue 10/1/19
2.1 Develop Initial Project Charter 4 days Wed 8/28/19 Mon 9/2/19 13
2.2 Develop Stakeholder Management Plan 2 days Tue 9/3/19 Wed 9/4/19 15
2.3 Develop Project Objectives and Identify the
Final Goals 2 days Thu 9/5/19 Fri 9/6/19 16
2.4 Identify Time Required for Setting Up the
Project 2 days Mon 9/9/19 Tue 9/10/19 17
2.5 Finalise the Project Budget 2 days Wed 9/11/19 Thu 9/12/19 18
2.6 Define Quality Standards Applicable for the
Project 3 days Fri 9/13/19 Tue 9/17/19 19
2.7 Develop Risk Management Plan for the
Project 3 days Wed 9/18/19 Fri 9/20/19 20
2.8 Develop Project Communication Plan 2 days Mon 9/23/19 Tue 9/24/19 21
2.9 Recruit Research and Development Manager
on Permanent Basis 5 days Wed 9/25/19 Tue 10/1/19 22
2.10 Milestone 2: Project Ready for Execution 0 days Tue 10/1/19 Tue 10/1/19 23
3 Setting Up of Research and Development
Lab 64 days Wed 10/2/19 Mon 12/30/19
3.1 Survey Nearby Area for Property 4 days Wed 10/2/19 Mon 10/7/19 24
3.2 Selection of Property for Setting Up the Lab 5 days Tue 10/8/19 Mon 10/14/19 26
3.3 Purchase the Property 15 days Tue 10/15/19 Mon 11/4/19 27
3.4 Set up R & D Lab 20 days Tue 11/5/19 Mon 12/2/19 28
3.5 Installation of Research Equipments 20 days Tue 12/3/19 Mon 12/30/19 29
3.6 Milestone 3: R & D Lab Ready 0 days Mon 12/30/19 Mon 12/30/19 30
4 R & D Staffing Plan 29 days Tue 12/31/19 Fri 2/7/20
4.1 Develop Plan for Staffing the R & D Lab 4 days Tue 12/31/19 Fri 1/3/20 31
4.2 Send Recruitment Information for Young
Researchers 2 days Mon 1/6/20 Tue 1/7/20 33
4.3 Hire Research Staff through Interview and 8 days Wed 1/8/20 Fri 1/17/20 34

7PROJECT MANAGEMENT PRINCIPLES
Test Processes
4.4 Training of the Staff 15 days Mon 1/20/20 Fri 2/7/20 35
4.5 Milestone 4: R & D Staffing Complete 0 days Fri 2/7/20 Fri 2/7/20 36
5 Genetic Modification Workshop 20 days Mon 2/10/20 Fri 3/6/20
5.1 Identify the Trees to be Genetically Modified 5 days Mon 2/10/20 Fri 2/14/20 37
5.2 Identify Genetic Modifications that will
increase the values of the trees 5 days Mon 2/17/20 Fri 2/21/20 39
5.3 Analyse Market for Desired Genetic
Modifications 10 days Mon 2/24/20 Fri 3/6/20 40
5.4 Milestone 5: Research Planning Complete 0 days Fri 3/6/20 Fri 3/6/20 41
6 Staff Mangement and Operations Planning 9 days Mon 3/9/20 Thu 3/19/20
6.1 Allocate Duties to Staff in the New
Department 3 days Mon 3/9/20 Wed 3/11/20 42
6.2 Set Fixed Working Hours 2 days Thu 3/12/20 Fri 3/13/20 44
6.3 Set Research Targets and Deadlines 2 days Mon 3/16/20 Tue 3/17/20 45
6.4 Develop Funding Plan for the Research 2 days Wed 3/18/20 Thu 3/19/20 46
6.5 Milestone 6: Staff and Operations
Management Plan Complete 0 days Thu 3/19/20 Thu 3/19/20 47
7 Information for the Clients 7 days Fri 3/20/20 Mon 3/30/20
7.1 Develop Overall Presentation of the Proposed
Project 2 days Fri 3/20/20 Mon 3/23/20 48
7.2 Presentation of the Project to the Clients 2 days Tue 3/24/20 Wed 3/25/20 50
7.3 Inform the Clients about the Genetic
Modifications of the Plants 3 days Thu 3/26/20 Mon 3/30/20 51
7.4 Milestone 7: Clients Informed 0 days Mon 3/30/20 Mon 3/30/20 52
8 Review and Sign Off 15 days Tue 3/31/20 Mon 4/20/20
8.1 Submit Project Documentation 10 days Tue 3/31/20 Mon 4/13/20 53
8.2 Review and Finalise Payment 3 days Tue 4/14/20 Thu 4/16/20 55
8.3 Go Ahead for the R & D Department 2 days Fri 4/17/20 Mon 4/20/20 56
8.4 Milestone 8: Stakeholder Sign Off 0 days Mon 4/20/20 Mon 4/20/20 57

8PROJECT MANAGEMENT PRINCIPLES
3. Risk Management
Some of the risks associated with the project are discussed in the following table with
management plan.
Risk Name Occurrence
Probability
Probable Impact Management Plan
Lack of funding for
research
High Very High Procure reliable
sponsor, preferably the
government for funding
Ethical issues related to
genetics
Very High Very High Sign declaration form
and follow all ethical
guidelines regarding
genetic modification
research
Poor quality research Medium High Train the research staff
to rectify research
mistakes and move in
the right direction
4. Project Budget
Resource Name Type Max. Units Std. Rate
Head of Project Work 100% $185.00/hr
General Manager Work 100% $180.00/hr
Research Head Work 100% $170.00/hr
Project Supervisor Work 100% $150.00/hr

9PROJECT MANAGEMENT PRINCIPLES
Customer Relations Manager Work 100% $145.00/hr
R & D Lab Costs Material $500,000.00
Material Costs Material $50,000.00
Investment for Staffing Material $500,000.00
Other Costs Material $35,000.00
Task Name Duration Resource Names Cost
Genetic Reconfiguration for the Wood Trees 211 days $861,760.00
Preliminary Planning and Discussion 42 days $62,160.00
Develop a List of Issues faced by the Company 3 days Head of Project $4,440.00
Conduct Basic Study of Tree Genetics and its
Impact in the Current Market 15 days Head of Project $22,200.00
Develop Proposal Regarding Plant Genetics
Study and Reconfiguration 5 days Head of Project $7,400.00
Call Management Members for Meeting 2 days Head of Project $2,960.00
Discuss the Study Findings 2 days Head of Project $2,960.00
Discuss the Benefits of Genetic Modification
of the Trees 2 days Head of Project $2,960.00
Discuss the Feasibility of Such a Project 2 days Head of Project $2,960.00
Discuss the Investment Required for the
Project 2 days Head of Project $2,960.00
Discuss the Demands of the Genetically
Modified Trees in the Market 2 days Head of Project $2,960.00
Reach Agreement regarding the Project 2 days Head of Project $2,960.00
Documentation of the Meeting Results 5 days Head of Project $7,400.00
Milestone 1: Approval for Proceeding with the
Project 0 days $0.00
Project Plan Development 25 days $31,400.00
Develop Initial Project Charter 4 days Project Supervisor $4,800.00

10PROJECT MANAGEMENT PRINCIPLES
Develop Stakeholder Management Plan 2 days Project Supervisor $2,400.00
Develop Project Objectives and Identify the
Final Goals 2 days Project Supervisor $2,400.00
Identify Time Required for Setting Up the
Project 2 days Project Supervisor $2,400.00
Finalise the Project Budget 2 days Project Supervisor $2,400.00
Define Quality Standards Applicable for the
Project 3 days Project Supervisor $3,600.00
Develop Risk Management Plan for the Project 3 days Project Supervisor $3,600.00
Develop Project Communication Plan 2 days Project Supervisor $2,400.00
Recruit Research and Development Manager
on Permanent Basis 5 days Head of Project $7,400.00
Milestone 2: Project Ready for Execution 0 days $0.00
Setting Up of Research and Development Lab 64 days $661,800.00
Survey Nearby Area for Property 4 days Project Supervisor $4,800.00
Selection of Property for Setting Up the Lab 5 days Project Supervisor $6,000.00
Purchase the Property 15 days Project Supervisor $18,000.00
Set up R & D Lab 20 days
Project Supervisor,
Material Costs[1], Other
Costs[1], R & D Lab
Costs[1]
$609,000.00
Installation of Research Equipments 20 days Project Supervisor $24,000.00
Milestone 3: R & D Lab Ready 0 days $0.00
R & D Staffing Plan 29 days $39,440.00
Develop Plan for Staffing the R & D Lab 4 days Research Head $5,440.00
Send Recruitment Information for Young
Researchers 2 days Research Head $2,720.00
Hire Research Staff through Interview and
Test Processes 8 days Research Head $10,880.00
Training of the Staff 15 days Research Head $20,400.00
Milestone 4: R & D Staffing Complete 0 days $0.00
Genetic Modification Workshop 20 days $27,200.00

11PROJECT MANAGEMENT PRINCIPLES
Identify the Trees to be Genetically Modified 5 days Research Head $6,800.00
Identify Genetic Modifications that will
increase the values of the trees 5 days Research Head $6,800.00
Analyse Market for Desired Genetic
Modifications 10 days Research Head $13,600.00
Milestone 5: Research Planning Complete 0 days $0.00
Staff Management and Operations Planning 9 days $12,240.00
Allocate Duties to Staff in the New
Department 3 days Research Head $4,080.00
Set Fixed Working Hours 2 days Research Head $2,720.00
Set Research Targets and Deadlines 2 days Research Head $2,720.00
Develop Funding Plan for the Research 2 days Research Head $2,720.00
Milestone 6: Staff and Operations
Management Plan Complete 0 days $0.00
Information for the Clients 7 days $8,120.00
Develop Overall Presentation of the Proposed
Project 2 days Customer Relations
Manager $2,320.00
Presentation of the Project to the Clients 2 days Customer Relations
Manager $2,320.00
Inform the Clients about the Genetic
Modifications of the Plants 3 days Customer Relations
Manager $3,480.00
Milestone 7: Clients Informed 0 days $0.00
Review and Sign Off 15 days $19,400.00
Submit Project Documentation 10 days Project Supervisor $12,000.00
Review and Finalise Payment 3 days Head of Project $4,440.00
Go Ahead for the R & D Department 2 days Head of Project $2,960.00
Milestone 8: Stakeholder Sign Off 0 days $0.00