MBA 690: Project Management Plan Outline - Cost & Risk Analysis

This document presents a project management plan outline, addressing key milestones, risk mitigation, and cost management. It details the intentions for managing the scope-time-cost triangle, highlighting Macy's investment in its mobile application and potential rebranding strategies. The outline identifies key risks such as competition and economic conditions, along with triggers for monitoring these risks, including cost overflows and stakeholder engagement. A cost schedule provides rough order of magnitude (ROM) estimates for payroll/HR and procurement/installation. This project management plan focuses on strategic adaptation and risk management within the context of a mobile application project.

Running head: MANAGEMENT
Management
Name of the Student
Name of the University
Author Note

1MANAGEMENT
I. State your intentions for managing and balancing the scope-time-cost triangle.
A. Macy’s has closed a good number of its shops in order to invest on its mobile application.
B. The application has been made live to the consumers in order to obtain specific feedback
from the consumers.
C. The organization could use rebranding strategy in order to gain and enhance its consumer
base and consumer loyalty.
II. Highlight the key risks and obstacles that management will have to mitigate for the
plan.
A. High competition between the competitors in the mobile application market can be
considered as one of the most significant risk that possess the potential to mitigate the plan
B. The current economic condition of the organization is a major risk that can mitigate the
project management plan.
C. Another obstacle faced by the company is that the features of the current application designed
by the company has become outdated.
III. Identify the triggers or signals that management will use to monitor if these risks are
occurring or not.
A. One of the chief signals that should be used by the management is to assess whether cost
overflow is occurring or not.
B. Another chief signal includes the occurrence of any third party interference in activity
schedule.

2MANAGEMENT
C. Lack of stakeholder engagement can be considered as another trigger that management
will use to monitor if these risks are occurring or not.
IV. Summarize the cost schedule by providing cost categories for the project—rough
order of magnitude (ROM) (very high level) dollar estimates are adequate for this.
Note: You may insert a tabular format here for clarity.
Payroll and human resource 56000 dollars
Procurement and installation 23000 dollars