Project Charter, Scope, Budget, Risk Analysis for Social Media Company

This project charter outlines a comprehensive plan for developing an automated information system for a social media company. The project encompasses various aspects, including scope definition, resource allocation, a detailed project schedule with a Gantt chart, and a time-phased budget. It also includes a thorough risk analysis, quality management plan, and closure procedures. The Measurable Organizational Value (MOV) is defined, focusing on improvements in customer engagement, data analytics, and revenue generation. The project aims to streamline user experience, improve data analytics, and reduce operational costs, impacting areas such as customer satisfaction, financial efficiency, and brand value. The document includes an annotated bibliography and a closure checklist to ensure project success. The project's success is measured by stakeholder expectations, including increased site visits, improved service quality, and revenue growth.

Project Charter & Description
Social Media Company

Social Media Company
Measurable Organizational Value (MOV)...................................................................................................3
Areas Impacted with the Project..............................................................................................................3
Identification of Values...........................................................................................................................3
Metric......................................................................................................................................................3
Highlights of the Timeframe...................................................................................................................4
MOV Summary.......................................................................................................................................4
Scope Management Plan.............................................................................................................................4
Definition of the Scope............................................................................................................................4
Items Included in the Scope.................................................................................................................4
Items Excluded from the Scope...........................................................................................................4
Resource List...........................................................................................................................................4
Management of Scope.............................................................................................................................5
Resources Information.............................................................................................................................5
People Resources.................................................................................................................................5
Technology Resources.........................................................................................................................6
Facilities Resources.............................................................................................................................6
Other Resources......................................................................................................................................6
Project Schedule, Milestones, Tasks, and Allocated Resources...................................................................6
Gantt chart...............................................................................................................................................7
Time-Phased Project Budget...................................................................................................................8
Project Risk Analysis and Plan..................................................................................................................11
Set of Assumptions................................................................................................................................11
Risk Identification.................................................................................................................................11
Risk Register.....................................................................................................................................11
Quality Management Plan.........................................................................................................................13
Objective...............................................................................................................................................13
Verification Activities to be Carried out................................................................................................13
Validation Activities to be Carried out..................................................................................................13
Closure and Evaluation..............................................................................................................................14
Annotated Bibliography........................................................................................................................14
Closure Checklist...................................................................................................................................15
Project Evaluation - Outline..................................................................................................................15
References.................................................................................................................................................16
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Social Media Company
Measurable Organizational Value (MOV)
Areas Impacted with the Project
Area Order of
Impact
Details
Strategy (Business
& Management)
Four Modifications in the managerial decisions and methods,
changes in the operational mechanisms utilized by the human
resources.
Customers & End-
Users
One The automated information system will ensure that the
operations are faster and accurate leading to the enhancement
of the rate of customer satisfaction.
Financial Two The current infrastructural costs will be reduced along with
the elimination of the operational costs.
Organizational Three The brand value of the organization in the market and among
the customer will improve and it will be able to earn better
revenues.
Social Five The automated system will allow more people to access the
website without any hassles leading to the fulfillment of the
aim to analyze the user data and information in a better
manner to come up with analytics results.
Identification of Values
 Better: Customer engagement, data analytics, number of visits, brand image and revenues
earned (Vermander, 2005).
 Cheaper: Infrastructure & Operational Costs
Metric
Stakeholder Expectation Quantitative Target
Project Client: Social Media
Company
Increased site visits Number of visits: +42%
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Social Media Company
End User: Customers Ease of operation and
increased speed of service
without any compromise on
quality
Quality: +62%
Partners Increased Revenues Revenues: +30%
Project Resources Good Feedback by the client Feedback: +90%
Highlights of the Timeframe
The project activities to achieve the quantitative targets highlighted above must be done in a total
timeframe of 115 days.
MOV Summary
The primary priority in the project will be the customers who will be provided with an automated system
that will lead to the 62% improvement in the quality and will allow an increase in the total number of
visits by another 42%. The revenues will be improved by 30% and project resources will receive a
positive feedback from its client.
Scope Management Plan
Definition of the Scope
Items Included in the Scope
The project team will design and develop an automated information system for its client, a social
media company. The system will be designed to streamline and improve the user experience and
data analytics. The resources will cover the activities as initiation, requirements analysis, system
design and development, implementation, integration, testing, monitoring and closure (Newton,
2015).
Items Excluded from the Scope
The changes that will not be approved by the client will not be implemented in the system. Also,
there will be no marketing activities done during the project by any of the project resources
(Nita, 2018).
Resource List
Resource Name Std. Rate
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Social Media Company
Project Manager $95.00/hr
Technical Advisor $62.00/hr
System Developer $71.00/hr
Technical Head $75.00/hr
Implementation Engineer $85.00/hr
Business Analyst $89.00/hr
Technical Analyst $58.00/hr
Finance Officer $86.00/hr
UI/UX Design Expert $80.00/hr
System Tester $63.00/hr
Technical Writer $68.00/hr
Trainer $87.00/hr
Management of Scope
The scope of the project will be managed with the aid of the management methodology as
Project Management Body of Knowledge (PMBOK).
Resources Information
People Resources
Resource Name Roles
Project Manager Planning, chartering, communication & risk
management, reviews, and resource management
Technical Advisor Change Management, Information Gathering
System Developer Development, integration, and unit testing
Technical Head Technical feasibility analysis and estimations
Implementation Engineer System implementation and change management
Business Analyst Feasibility study and requirements analysis
Technical Analyst Assistance in implementation, integration, initiation,
and closure tasks
Finance Officer Budget estimation, financial feasibility analysis
UI/UX Design Expert Designing of the system
System Tester Testing activities
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Social Media Company
Technical Writer System documentation
Trainer User-trainings
Technology Resources
 Database Tool: MySQL
 Development Tool: Microsoft Visual Studio
 Project Management Tools
 Testing Tools: Bugzilla
Facilities Resources
 WAN connectivity
 Meeting rooms
Other Resources
 Business Specifications
 Project funds
Project Schedule, Milestones, Tasks, and Allocated Resources
6

Social Media Company
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Social Media Company
Gantt chart
8

Social Media Company
Time-Phased Project Budget
The technique for the estimation of the budget has been chosen as time-phased budget with bottom-up
estimation technique.
The project also includes the cost of equipment as $17,500 and cost of tools as $5,200.
Task Name Month 1 Month 2 Month 3 Month 4
Social Media Company – Information System
Project Initiation
Feasibility Analysis - Technical Features and
Aspects
$1,200.0
0
Feasibility Analysis - Operational Features and
Aspects
$1,424.0
0
Feasibility Analysis - Financial Features and
Aspects
$1,376.0
0
Chartering Processes $2,280.0
0
Submission of the Results $0.00
Milestone 1: Project Charter Document $0.00
Requirements Analysis & Project Planning
Information collection and analysis $4,800.0
0
Project requirements analysis $3,560.0
0
Identification of the scope $2,280.0
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Social Media Company
0
Estimations $8,000.0
0
Management & Planning of communications and
risks
$2,280.0
0
Project Plan Preparation $1,088.0
0
Milestone 2: Project Plan $0.00
Design & Development
Designing activities $5,120.00
Source code creation $22,704.0
0
Unit test cases creation and execution $3,096.0
0
Database connections and syncing $2,272.0
0
Network connectivity $1,856.0
0
Integration processes $4,128.0
0
Milestone 3: System Design & Source Code $0.00
Project Control
Test case creation and execution $5,544.0
0
Management and planning of the changes $4,000.0
0
$4,232.0
0
Review and audits $3,800.0
0
Submission of the Results $2,280.0
0
Milestone 4: Defect Report, Review Report $0.00
Closure Phase
User trainings $4,872.0
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Social Media Company
0
Documentation activities $1,392.0
0
Sign offs and acceptance $2,280.0
0
Lessons acquired $1,632.0
0
Submission of the closure report $3,040.0
0
Milestone 5: Closure Report
Monthly Total $28,288 $27,824 $20,896 $23,528
Cumulative Total $28,288 $56,112 $77,008 $1,00,53
6
Month 1 Month 2 Month 3 Month 4
0
20000
40000
60000
80000
100000
120000
Series1
Project Risk Analysis and Plan
Set of Assumptions
 The project schedule and budget cannot be altered.
 The team will be provided with the information on quality and ethical standards.
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Social Media Company
Risk Identification
The risks will be identified in the planning phase as per the PMBOK project management
methodology. These will be listed in the form of a risk register and the corresponding details will
be recorded (Dot, 2012).
The risks management process shall include various steps as risk identification, analysis,
evaluation, treatment, and closure. All of these phases must be covered to ensure that there are
no occurrences of the risks during the timeline of the project.
Risk Register
Risk Brief Project
Phase
Resource
Assigned
Probabilit
y
Impact Risk Management
Strategy
Technical
Error
The hardware and
software tools that
will be used for the
execution of the
project tasks may
turn faulty with
usage or due to any
manufacturing
defect.
Initiation Technical
Head
Medium Medium The risk shall be
managed with the
strategy as the mitigation
of the risk by keeping an
alternate of every tool
and equipment ready for
usage.
Overrun of the
Project
Estimates
The estimations,
such as schedule or
budget may not be
adhered by the
project resources
leading to a situation
of an overrun.
Requireme
nts
Analysis
&
Planning
Project
Manager,
Business
Analyst,
Finance
Officer
Low High The risk shall be
managed with the
strategy as the avoidance
by making sure that
project progress and
adherence to the
estimates is followed.
Security Issues Security issues, such
as attacks on
information security
in the form of
Execution
– Design
&
developme
System
Developer
,
Technical
Medium-
High
High The risk shall be
managed with the
strategy as the mitigation
and avoidance through
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