Project Management: Virtucon/Globex Project Charter Development

This project management assignment presents a comprehensive analysis of the Virtucon/Globex project, focusing on the development of a project charter. The document begins with an overview of the project, which aims to leverage modern technology to maximize crop yields through a GPS-based application. Part 1 focuses on the Measurable Organizational Value (MOV), identifying the project's impact across financial, customer, operational, social, and strategic areas. It also defines project values as 'Better' and 'Cheaper', and outlines stakeholder expectations with corresponding target metrics. The scope, resources, work breakdown structure (WBS), deliverables, milestones, resource assignments, and budget are detailed in Parts 2 and 3. Part 4 covers project assumptions and a risk identification framework, including a risk ownership strategy. Parts 5 and 6 discuss team philosophy, verification and validation activities, and a project closure checklist, along with an evaluation of the project's MOV. The assignment concludes with a bibliography and an annotated bibliography of relevant sources.

Running head: PROJECT MANAGEMENT
Project Management
Name of Student
Name of University
Author Note

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Table of Contents
Description/Overview..........................................................................................................3
Part 1: MOV........................................................................................................................3
1.1. Area of Impact..........................................................................................................3
1.2. Identified Project Value............................................................................................4
1.3. Stakeholders’ Expectations and Target Metric.........................................................5
1.4. Set Timeline for MOV..............................................................................................5
1.5. Summary of the MOV..............................................................................................6
Part 2................................................................................................................................7
2.1. Scope.........................................................................................................................7
2.2. Resources..................................................................................................................7
Part 3....................................................................................................................................8
3.1. Work Breakdown Structure for MBFSA..................................................................8
3.2. Deliverable and Milestone......................................................................................10
3.3. Resource Assignment.............................................................................................12
3.4. Project Budget........................................................................................................16
Part 4..................................................................................................................................18
4.1. Project Assumptions...............................................................................................18
4.2. Risk Identification Framework...............................................................................18
4.3. Risk Ownership Strategy........................................................................................19

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Part 5..................................................................................................................................21
5.1. Team’s Philosophy.................................................................................................21
5.2. Verification Activities............................................................................................21
5.3. Validation Activities...............................................................................................21
Part 6: Closure and Evaluation..........................................................................................21
6.1. Project Closure Checklist.......................................................................................21
6.2. Evaluation of Project MOV....................................................................................22
Bibliography......................................................................................................................23
Appendix............................................................................................................................24
Annotated Bibliography.................................................................................................24

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Description/Overview
The MBFSA project aims in making use of modern technology to maximize the yield of
the crop growers. In this project, an application will be developed that will make use of a GPS
system to predict the crops that will provide a maximum yield in that season of the year. The
project will be executed by Virtucon and is owned by Globex.
Part 1: MOV
The measurable organization value is generally used for defining the value and the goal
of an undertaken project.
1.1. Area of Impact
Area of Impact Rank Effect
Financial 1 MBFSA application is developed
and deployed in a very low cost
and has a negligible operational
cost. Therefore, the project has a
large financial value and hence it
is ranked 1.
Customer 2 The application is being
developed for the customers. The
project will have a large impact
on the farmers and the
wholesalers as the project is
being developed to predict the
crops that will provide a

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maximum yield.
Operational 3 This project involves
development of system that will
provide the farmers and the
wholesalers with the accurate
data needed to improve the crop
yield of a particular region.
Therefore, it can be said that the
particular project has a large
operational benefit as well.
Social 4 The project has a considerable
social benefit as well because it
is being deployed for the farmers.
Strategy 5 The strategy of making use of
GPS system is to develop an
application that can control the
losses linked with incorrect yield
is quite good and this has certain
operational benefits as well.
1.2. Identified Project Value
The two identified project values linked with this particular case is Better and cheaper.
The application that will be deployed proposes a better strategy that can improve the crop yield
and it is being implemented in a cheapest way possible.

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1.3. Stakeholders’ Expectations and Target Metric
Stakeholders Expectations Target Metric
Virtucon Virtucon is expected to provide a
satisfactory prototype and good
working software in a low cost
Delivery of a working software
in 6 months
Globex Globex is expected to provide a
full support to Virtucon in
deploying the application
Providing the detailed
requirements within 1 month of
project start
Government This stakeholder is expected to
provide needed help to Globex
and Virtucon
To provide the necessary data
within 2 months
Farmers This stakeholder is expected to
provide full support to the project
deployment team
To provide their views on the
prototype delivered in 1 week.
1.4. Set Timeline for MOV

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Figure 1: Timeframe for Achieving MOV
1.5. Summary of the MOV
MOV Summary
Description/Overview This section provides a detailed description of the
project that is being executed.
Impact Area The impact of the project on five different areas is
discussed
Types of Values The value of Better and Cheaper will be realized
with this project
Stakeholders’ target metrics The expectations and the target of the main
stakeholders are discussed
Timeframe for MOV The project should take no longer than 6 months to

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complete
Part 2
2.1. Scope
The project scope can be defined as a part of planning a project and documenting its
deliverables and the goals.
In-scope
 The project execution is as much less cost as possible
 Delivering a well-designed prototype in next 2 months
Out-scope
 Maintenance of the application
 The benefit realization of this particular project is out-of scope
2.2. Resources

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Figure 2: Representing the Resources
Part 3
3.1. Work Breakdown Structure for MBFSA

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Figure 3: Illustrating the WBS

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3.2. Deliverable and Milestone

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Figure 4: Illustrating the deliverables and Milestone
3.3. Resource Assignment

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Figure 5: Illustrating the Resource Assignment

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Figure 6: Illustrating the Resource Overview
3.4. Project Budget

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Figure 7: Illustrating the Cost

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Figure 8: Illustrating the task cost overview
Part 4
4.1. Project Assumptions
 Compete availability of the end users are confirmed during the testing phase
 Funding for the project will be easily secured
4.2. Risk Identification Framework
The framework for identifying the risks linked with the Virtucon-Globex project are
discussed in the table below-
Risks Category Identification Framework

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Financial The project tracking indicates that the project has
gone over-budget
Schedule The progress report indicates that the project is
running behind the Schedule
Resource Resource unavailability and resource shortage is
observed in the project.
Operational The end product that is delivered to the client
shows unacceptable operational speed
Technical The end product that is delivered to the client
shows some technical glitches
4.3. Risk Ownership Strategy
Risk Number Description Severity Probability Risk Owner
R1: Financial The project could
not be deployed in
a low cost.
High Medium Virtucon
R2: Schedule The MBFSA
application could
not be deployed
within 6 months
Medium Medium Project Manager
R3: Resource Acute resource
shortage is
observed during
Medium High Resource Manager

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project execution
R4: Operational A significant
amount of
operational issues
are faced in
execution of this
project
High High Virtucon
R5: Technical A number of
technical issues are
faced in relation to
the operations and
usability of the
application that is
being deployed
High Medium Virtucon

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Figure 9: Illustrating the Risk Register
Part 5
5.1. Team’s Philosophy
The team’s philosophy is to ensure regular communication with the team members and
the stakeholders to communicate the most critical activities linked with the deployment of the
MBFSA application.
5.2. Verification Activities
 Team Virtucon and Globex will check if the product that is developed meets the
expectations of the customers
 Team Virtucon and Globex will check if the implementation approach specified
by Globex is met while deploying the application
5.3. Validation Activities
 In user acceptance testing, team Virtucon checks whether the project has been
successful in fulfilling the needs of the clients
Part 6: Closure and Evaluation
The closure phase of the project deals with delivering the final product to the client along
with appropriate documentation. Evaluation on the other hand is important to assess whether the
set target is archived (refer to appendix).
6.1. Project Closure Checklist

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Checklist Items Whether Considered (yes/No)
Verifying whether all the deliverables are met Yes
Documenting the activities Yes
Completion of the payments Yes
Releasing the Resources Yes
Client Sign Off Yes
6.2. Evaluation of Project MOV
Evaluation of the project MOV is linked with checking if a functional MBFSA
application could be deployed within 6 months of project start. The project should be able to
meet all the specifications of the MBFSA app set by Globex.

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Bibliography
Binder, J. (2016). Global project management: communication, collaboration and management
across borders. Routledge.
Chronéer, D., & Backlund, F. (2015). A holistic view on learning in project‐based
organizations. Project Management Journal, 46(3), 61-74.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Larson, E. W., & Gray, C. F. (2017). Project management: The managerial process. McGraw-
Hill Education.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Serra, C. E. M., & Kunc, M. (2015). Benefits realisation management and its influence on
project success and on the execution of business strategies. International Journal of
Project Management, 33(1), 53-66.
Xu, Y., & Yeh, C. H. (2014). A performance-based approach to project assignment and
performance evaluation. International Journal of Project Management, 32(2), 218-228.
Zulch, B. (2014). Leadership communication in project management. Procedia-Social and
Behavioral Sciences, 119, 172-181.

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Appendix
Annotated Bibliography
Serra, C. E. M., & Kunc, M. (2015). Benefits realisation management and its influence on
project success and on the execution of business strategies. International Journal of
Project Management, 33(1), 53-66.
Serra and Kunc (2015), discusses about the benefit realisation management that has a
large influence on the success of a project. In this journal, the author analyses the perception of
project success that is directly linked with the practises of benefits realization. It is observed that
a high level project performance is largely dependent on the evaluation of the project success.
Business strategies imply that the organizational change requires successful execution of a
project. The success of the project largely depends on effective evaluation of a project. A
planned project evaluation is needed to ensure that the project is executed is a successful manner.
The success of a project management approach is dependent on evaluating the project as per the
specifications. Therefore, evaluating the performance of the project is one of the most significant
need for ensuring project success. One of the most significant characteristics of evaluation of a
project involves clearly defining the structure of the project so that evaluating the performance of
the project becomes easier. I
Chronéer, D., & Backlund, F. (2015). A holistic view on learning in project‐based
organizations. Project Management Journal, 46(3), 61-74.
Chronéer and Backlund (2015), provide a similar view regarding the learning processes
involved with execution of a project. Over the years, the researchers have highlighted an
important factor linked with project success. It is necessary to identify the different project

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management capabilities that can significantly help in execution of a project in an effective
manner. The learning process is project management is linked with the execution of a particular
project. The project evaluation process is based on successful management of all the major
phases linked with the execution of a project. The learning process is an organization is linked
with acquiring of the knowledge and transfer of knowledge. The project evaluation process
provides an excellent opportunity to judge whether the project has been successful in fulfilling
the most critical criteria and the specifications linked with the project. It is however, quite
integral to understand the most critical specification of the project to ensure that the project is
executed in an effective manner. Therefore, the process of project evaluation holds a
significantly important place in successfully completing a project. The learning process in the
closure phase is linked with project evaluation.
Xu, Y., & Yeh, C. H. (2014). A performance-based approach to project assignment and
performance evaluation. International Journal of Project Management, 32(2), 218-
228.
Xu and Yeh (2014), discuss the approach by which the performance of a project can be
evaluated. It is established that the performance of a project is needed to be evaluated so that its
success can be judged. A proactive mechanism is needed to be chosen to ensure that the project
is evaluated in a significant manner. Project evaluation has gradually become one of the most
important factors to understand the success and the failure of the project. A planned approach of
project implementation is therefore directly linked with the project evaluation. Project evaluation
process helps in maximizing the total weighted contribution linked with the project. Efficiency in
execution of a project is reflected in the closure phase during the evaluation. Evaluation of a
project is linked with the efficiency of the project and the project managers. The approach that is

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undertaken by the project manager in execution and completion of a project is generally
evaluated at the end or the closure phase to reflect on the achievement of the project manager.
Therefore, an effective evaluation process is necessary to ensure that a project of high quality is
delivered to the customers.