Virtucon's OSFMS Project: Planning, Execution, and Closure Analysis

This project management assignment focuses on the development of an Online Stud Farm Management System (OSFMS) by Virtucon for Globex. The assignment includes a Measurable Organizational Value (MOV) definition, a detailed scope management plan, a Work Breakdown Structure (WBS) with budget allocation, a risk analysis and mitigation plan, and a quality management plan. It covers aspects such as project planning, resource allocation, technical upgrades, system development, testing, and project closure. The document also provides insights into project evaluation, referencing relevant articles on project management methodologies and success factors. Time-phased budgets, risk registers, and verification/validation activities are discussed to ensure project success. Desklib offers a wealth of similar solved assignments and study resources for students.

Running Head: PROJECT MANAGEMENT
Project Management Assignment 3: OSFMS
Name of the Student
Name of the University

1PROJECT MANAGEMENT
Table of Contents
Part One: MOV – Measurable Organizational Value......................................................................2
Part Two: Scope Management Plan.................................................................................................2
Part Three: Work Breakdown Structure and Budget.......................................................................4
Part Four: Risk Analysis and Plan.................................................................................................13
Part Five: Quality Management Plan.............................................................................................14
Part Six: Closure and Evaluation...................................................................................................14
Bibliography..................................................................................................................................17
Appendix........................................................................................................................................18

2PROJECT MANAGEMENT
Part One: MOV – Measurable Organizational Value
MOV or Measurable Organizational Value is used to list a set of parameters related to the
goal of the project.
Desired Area of Impact – There are a number of desired areas in the project but based on
the analysis, it can be said that the main desired area is the customer. The entire project has been
designed to fulfill the needs of the stud farm managers although Globex also desires to make a
significant impact in finance by preparing a sustainable stud farm management system business.
Value – The main values of the project are faster and better. The OSFMS is faster and
also much more efficient than the manually managed stud farm systems.
Metric – Some of the appropriate metrics based on which the project will be evaluated
are the cost benefit and business sustainability in terms of annual profit.
Timeframe – The estimated time frame is approximately 6 months.
Summary of MOV – In this project, within the 6 months time, an online stud farm
management system will be delivered that will solve the problems faced by the stud farm
managers.
Part Two: Scope Management Plan
The development of the online stud farm management system (OSFMS) is within the
scope of the project. In order to control the scope, the MOV of the project is to be defined
accurately and the stakeholders need to be aware of scope creep. Regular reporting to project
manager is also recommended to prevent scope creep.

3PROJECT MANAGEMENT
Resource Name Type
Max.
Units
Std. Rate Ovt. Rate Cost/Use
Accrue
At
Base
Calendar
Project Manager Work 100% $140.00/hr $0.00/hr $0.00 Prorated Standard
Finance
Manager
Work 100% $85.00/hr $0.00/hr $0.00 Prorated Standard
Human
Resource
Recruiter
Work 100% $90.00/hr $0.00/hr $0.00 Prorated Standard
Project
Supervisor
Work 100% $115.00/hr $0.00/hr $0.00 Prorated Standard
Development
Technologist
Work 100% $55.00/hr $0.00/hr $0.00 Prorated Standard
Software Testing
Specialist
Work 100% $50.00/hr $0.00/hr $0.00 Prorated Standard
Hardware Material $12,500.00 $0.00 Prorated
Software Material $5,500.00 $0.00 Prorated
Facilities and
Others
Material $2,000.00 $0.00 Prorated

4PROJECT MANAGEMENT
Part Three: Work Breakdown Structure and Budget
The work breakdown structure is as follows.
WBS Task Name Duration Start Finish
0 Development of OSFMS 136 days Tue 6/5/18 Tue 12/11/18
1 Survey, Discuss, Plan 11 days Tue 6/5/18 Tue 6/19/18
1.1
Meet with stud farm
managers
4 days Tue 6/5/18 Fri 6/8/18
1.2
Discuss Issues and
Problems
2 days Mon 6/11/18 Tue 6/12/18
1.3 Survey in Stud Farms 1 day Wed 6/13/18 Wed 6/13/18
1.4
Present Proposal for
OSFMS
2 days Thu 6/14/18 Fri 6/15/18
1.5 Feasibility Testing 2 days Mon 6/18/18 Tue 6/19/18
1.6 M1: End of Discussions 0 days Tue 6/19/18 Tue 6/19/18
2 Estimate, Plan 18 days Wed 6/20/18 Fri 7/13/18
2.1
Allocate Members to
Teams
1 day Wed 6/20/18 Wed 6/20/18
2.2 Primary Plan 8 days Thu 6/21/18 Mon 7/2/18

5PROJECT MANAGEMENT
2.2.1 Setting project goals 2 days Thu 6/21/18 Fri 6/22/18
2.2.2 Determination of scope 1 day Mon 6/25/18 Mon 6/25/18
2.2.3
Determine suitable
methodology for execution
2 days Tue 6/26/18 Wed 6/27/18
2.2.4
Project charter
development
0.5 days Thu 6/28/18 Thu 6/28/18
2.2.5 Schedue estimation 0.5 days Thu 6/28/18 Thu 6/28/18
2.2.6 Budget estimation 2 days Fri 6/29/18 Mon 7/2/18
2.3 Secondary Plan 9 days Tue 7/3/18 Fri 7/13/18
2.3.1
Risk register
development
3 days Tue 7/3/18 Thu 7/5/18
2.3.2 Identify risk 1 day Fri 7/6/18 Fri 7/6/18
2.3.3 Identify mitigation plan 1 day Mon 7/9/18 Mon 7/9/18
2.3.4
Analyze Measurable
Organizational Value
2 days Tue 7/10/18 Wed 7/11/18
2.3.5 Develop management
plan for quality and
2 days Thu 7/12/18 Fri 7/13/18

6PROJECT MANAGEMENT
evaluation
2.4 M2: End of planning 0 days Fri 7/13/18 Fri 7/13/18
3 Initiate and Prepare 15 days Mon 7/16/18 Fri 8/3/18
3.1
Receive budget from
authority
4 days Mon 7/16/18 Thu 7/19/18
3.2 Hire system experts 4 days Fri 7/20/18 Wed 7/25/18
3.3
Allocate Duties to Team
Members
1 day Thu 7/26/18 Thu 7/26/18
3.4 Purchase Hardware 4 days Fri 7/27/18 Wed 8/1/18
3.5 Purchase Software 2 days Thu 8/2/18 Fri 8/3/18
3.6 M3: Proceed to Project 0 days Fri 8/3/18 Fri 8/3/18
4 Execute 85 days Mon 8/6/18 Fri 11/30/18
4.1 Technical Upgrade 4 days Mon 8/6/18 Thu 8/9/18
4.2 Install Software Platform 2 days Fri 8/10/18 Mon 8/13/18
4.3 System Development 67 days Tue 8/14/18 Wed 11/14/18
4.3.1
Start designing of
website
20 days Tue 8/14/18 Mon 9/10/18

7PROJECT MANAGEMENT
4.3.2 Initial Testing 6 days Tue 9/11/18 Tue 9/18/18
4.3.3 Add features required 15 days Wed 9/19/18 Tue 10/9/18
4.3.4
Coding and
programming
10 days Wed 10/10/18 Tue 10/23/18
4.3.5 Second testing 6 days Wed 10/24/18 Wed 10/31/18
4.3.6
Complete the overall
website system
10 days Thu 11/1/18 Wed 11/14/18
4.4 Testing the system 12 days Thu 11/15/18 Fri 11/30/18
4.4.1
Connect with main
server
4 days Thu 11/15/18 Tue 11/20/18
4.4.2
Test the running of
website features
3 days Wed 11/21/18 Fri 11/23/18
4.4.3
Remove bugs and
glitches
5 days Mon 11/26/18 Fri 11/30/18
4.5 M4: Handover 0 days Fri 11/30/18 Fri 11/30/18
5 Review and Close 7 days Mon 12/3/18 Tue 12/11/18
5.1 Post project review 2 days Mon 12/3/18 Tue 12/4/18
5.2 Perform project appraisal 1 day Wed 12/5/18 Wed 12/5/18

8PROJECT MANAGEMENT
5.3 Submit project report 4 days Thu 12/6/18 Tue 12/11/18
5.4 M5: Complete signoff 0 days Tue 12/11/18 Tue 12/11/18
Figure 1: WBS of the Project
(Source: Created by Author)
Bottom up technique is used for cost estimation as follows.
Task Name Resource Names Cost
Development of OSFMS $131,920.00
Survey, Discuss, Plan $22,440.00
Meet with stud farm
managers
Project Manager, Project Supervisor $8,160.00

9PROJECT MANAGEMENT
Discuss Issues and
Problems
Project Manager, Project Supervisor $4,080.00
Survey in Stud Farms Project Manager, Project Supervisor $2,040.00
Present Proposal for
OSFMS
Project Manager, Project Supervisor $4,080.00
Feasibility Testing Project Manager, Project Supervisor $4,080.00
M1: End of Discussions Project Manager, Project Supervisor $0.00
Estimate, Plan $35,400.00
Allocate Members to
Teams
Human Resource Recruiter $720.00
Primary Plan $16,320.00
Setting project goals Project Manager, Project Supervisor $4,080.00
Determination of
scope
Project Manager, Project Supervisor $2,040.00
Determine suitable
methodology for execution
Project Manager, Project Supervisor $4,080.00
Project charter
development
Project Manager, Project Supervisor $1,020.00

10PROJECT MANAGEMENT
Schedue estimation Project Manager, Project Supervisor $1,020.00
Budget estimation Project Manager, Project Supervisor $4,080.00
Secondary Plan $18,360.00
Risk register
development
Project Manager, Project Supervisor $6,120.00
Identify risk Project Manager, Project Supervisor $2,040.00
Identify mitigation
plan
Project Manager, Project Supervisor $2,040.00
Analyze Measurable
Organizational Value
Project Manager, Project Supervisor $4,080.00
Develop management
plan for quality and
evaluation
Project Manager, Project Supervisor $4,080.00
M2: End of planning Project Manager, Project Supervisor $0.00
Initiate and Prepare $32,040.00
Receive budget from
authority
Finance Manager $2,720.00
Hire system experts Human Resource Recruiter, Facilities and $4,880.00

11PROJECT MANAGEMENT
Others[1]
Allocate Duties to Team
Members
Project Supervisor $920.00
Purchase Hardware Project Supervisor, Hardware[1] $16,180.00
Purchase Software Project Supervisor, Software[1] $7,340.00
M3: Proceed to Project Development Technologist $0.00
Execute $36,920.00
Technical Upgrade Development Technologist $1,760.00
Install Software
Platform
Development Technologist $880.00
System Development $29,480.00
Start designing of
website
Development Technologist $8,800.00
Initial Testing Development Technologist $2,640.00
Add features required Development Technologist $6,600.00
Coding and
programming
Development Technologist $4,400.00
Second testing Development Technologist $2,640.00