WRU Project Management Plan: Risk, Procurement, and Project Overview

This project management plan focuses on enhancing the production capabilities of Widget's R Us (WRU) to gain a competitive advantage in a dynamic market. The plan begins with an executive summary outlining the company's challenges, including increased demand, competition, and internal communication issues. It evaluates alternative solutions, particularly the weight scoring method, for project selection. The project concept, objectives, requirements, and key performance indicators are defined. A feasibility study assesses the project's viability, considering assumptions, constraints, and potential improvements. Stakeholder management, schedule management (including milestones and a Gantt chart), cost management, quality management, risk management, and procurement are also addressed. The plan includes detailed analyses of budget, cost control, risk mitigation, and contract types, culminating in a conclusion and references.

PROBLEM BASED PROJECT
MANAGEMENT PLAN

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
BACKGROUND.............................................................................................................................1
a. Needs for improvement......................................................................................................1
b. Approaches, technologies relevant to the project...............................................................1
EVALUATION OF ALTERNATIVES..........................................................................................2
a. Alternative solutions...........................................................................................................2
b. Criteria, ranking, rating used to develop project selection matrix.....................................2
c. Analysis of outcome...........................................................................................................5
PROJECT CONCEPT.....................................................................................................................5
a. Description of project.........................................................................................................5
b. Project objectives................................................................................................................5
c. Project requirements and deliverables................................................................................5
d. Key performance indicator.................................................................................................6
PROJECT FEASIBILITY...............................................................................................................6
a. Feasibility and sustainability of project..............................................................................6
b. Approval requires...............................................................................................................7
c. Project assumptions............................................................................................................7
d. Known constraints..............................................................................................................7
e. Possible improvements.......................................................................................................7
8. Project Stakeholders Management:..............................................................................................8
9. Project schedule management .....................................................................................................9
A) Mile stone for the project .................................................................................................9
B Gantt Chart..........................................................................................................................9
C) Work breakdown structure..............................................................................................11
Defining the way schedule will be managed during the project..........................................11
10. Project cost management ........................................................................................................12
A)Budget..............................................................................................................................12
C).Managing the costs during project ................................................................................13
11. Project quality management ....................................................................................................13
12. Project Risk management........................................................................................................14

A) Completing a risk register for the project including development issues and operational14
B ) Risk management matrix................................................................................................16
C. Information related to Risk management ........................................................................17
13. Project procurement ................................................................................................................17
A) Types of contracts required.............................................................................................17
B) Make or Buy analysis......................................................................................................18
C) Procurement management...............................................................................................19
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

EXECUTIVE SUMMARY
WRU is specialized in designing and manufacturing quality widgets. But die to
increasing demand and high competition it is unable to sustain in the market for longer duration.
WRU wants to gain competitive advantage by enhancing is production capabilities. Study
discusses the project, its requirements and deliverables. Furthermore, it explains weight scoring
model as alternative solution in order to meet the success. Project feasibility study is being
carrying out in this project. In addition, report describes stakeholder management, cost
management with respect to WRU project.
BACKGROUND
a. Needs for improvement
Widget's R Us Widgets' R Us (WRU) is the leading firm that produces quality widgets.
This industry is performing well and it has stable market situations. WRU has four major
department in the firm: accounting, sales, production and engineering. The designs that use by
the firm in manufacturing of widgets are effective and support the entity in providing low price
products to the consumers (Kerzner and Kerzner, 2017). Over a period of time demand has been
increased and competition has been enhanced. In such condition WRU is facing trouble because
average life cycle of the manufacturing the widgets is 12-15 months.
One of the major issue face by the firm that it is unable to meet the demand. Because
manufacturing time of product development in 12-15 month and in such longer duration it gets
fail to meet the high demand. Another problem in the workplace is it is unable to compete with
the dynamic market demand. Due to high competition WRU has to make changes in its
manufacturing process. Though, entity has made many innovations but still demand has not been
matched. Another issue in the workplace is poor internal communication. Poor monitoring is
another major problem in the business unit (Fleming and Koppelman, 2016). Due to poor
controlling and monitoring department heads blame other departments for the problem. They do
not take initiative to control over the issues.
b. Approaches, technologies relevant to the project
The main agenda of WRU is to sustain in the market for longer duration and gain
competitive advantage. But due to several issues it might get failed to meet with its objectives.
As it is identified that internal communication is the major problem in the firm. This
communication approach is highly relevant to the project. Quality of final product is high
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depended upon the internal communication between various departments. If production
department do not coordinate well with the engineering department then they will fail to identify
the basic feature of design (Walker, 2015). That is why they fail to manufacture the widgets in
less time. If they coordinate well with each others then it may help in minimizing errors and
reducing the production timing. This would be beneficial for the WRU in manufacturing the
widgets within 8 months and it will be able to meet with the demand. Furthermore, poor
monitoring is also relevant to the project of WRU. If department heads take responsibilities and
monitor the progress of each innovative idea properly then it would be beneficial for the
company in reducing errors and getting positive results. By this way it will be able to meet with
the insatiable demand (Meredith and et.al, 2016). As market is stable thus, if proper monitoring
and controlling has been implemented then entity will be able to implement innovative ideas in
effective manner. This will support in minimizing consequences and producing high quality
widgets. This is the way through which WRU can gain competitive advantage in the market.
EVALUATION OF ALTERNATIVES
a. Alternative solutions
In order to meet with the objective it is essential for the WRU that to take support of
alternative methods so that issues can be resolved ad entity can gain competitive advantage.
Weight scoring method would be considered as best approach that can help in minimizing issues
and improving condition of business unit (Binder, 2016). Cited firm first has to decide criteria
that needs to be consider on first priority. Project manager has to give weight to each criteria so
that importance of the factors can be realised in the project. Once weight score is being assigned
then they have to calculate the weight score. WRU has to first identify the requirements and has
to evaluate the criteria properly. This evaluation needs to be done fairly and in acceptable
manner. After deciding the criteria manager has to customize field by using appropriate software.
Once it has been customized then scoring needs to be done and then calculate the total scoring.
This will help the manager in identifying the factor that need to be consider first in order to meet
with the objective (Conforto and et.al, 2016).
b. Criteria, ranking, rating used to develop project selection matrix
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Project
Title
Strategic
connectio
n to
suppliers
to met
the
section
goals
Custom
ers
indicate
need for
improve
ment
Data
demo
nstrat
e that
a gap
exists
Small
scale-it
will
show
results
in 2-3
month
s
"Low
hangi
ng
fruit"
-it
will
prod
uce a
quick
win
and
gain
buy-
in
Major
effecti
ve
factor-
desper
ately
needs
impro
vemen
t
Strong
suppo
rt
from
involv
e
projec
t team
memb
ers
Strong
suppor
t from
depart
ment
heads
NPHII
focus* Do
not rank.
If
applicable
, review
focus
areas
listed
below.
Does
project
meet
criteria
(Yes or
No)?
Total
Score
To gain
compet
itive
advanta
ges 5 2 4 4 4 4 4 4 Y
31
To
reduce
manufa
cturing
time 3 3 4 3 4 4 4 3 Y
28
To
enhanc
e
commu
nicatio 3 2 3 4 3 2 3 3 Y
23
3

n
betwee
n
various
depart
ments
Raise
product
ion
capabil
ities to
meet
with
the
deman
d 5 5 5 3 3 5 5 5 Y
36
There are various criteria on which this project can be selected properly. All these
criteria help the project manager in making sound decision regarding selection of project. The
main objective of WRU is to gain competitive advantage, for that it has to make connection with
suppliers. 5 weight score or rank has been given to this criteria. Customers need to be indicated
this is another criteria that has been ranked 2. Gap needs to be identified so that it can be
measured that why innovative ideas are not giving accurate results (Zheng and et.al, 2016). This
has been scored 4. Furthermore, other criteria are quick checking, major effective factors that are
necessary for improvements, support from staff members and department head. Overall scoring
to this project has been given 31. Another objective is to reduce manufacturing time, for that
total scoring is 28. To enhance internal communication is another title that has been scored 23
whereas production capabilities enhancement has been scored 36. That describes that project
needs to be selected on these criteria and rating schemes (Layton and Ostermiller, 2017). By this
way WRU can become able to meet with its objective and will be able to gain competitive
advantage.
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c. Analysis of outcome
From the above selection matrix it has been analysed that above project is able to get
desired results. By taking into it has been identified that raising production capabilities and
gaining competitive advantage are two major projects that can support the WRU in gaining
optimistic results. If entity makes connection with the suppliers and find out the gap in
production then it would be beneficial for the entity in identifying the loop fall in the system. By
this way it would be able to enhance its capabilities and raising efficiency level in the production
(Meredith and et.al, 2016). Project manager has to look upon raising capabilities of production.
For that they have to continuously monitoring the progress. They have to take support of skilled
employees. By this way it will be able to meet with the demand and gain competitive advantage.
PROJECT CONCEPT
a. Description of project
The project is all about development of widgets in the WRU at less time with high
quality. This can help the entity in meeting with increasing demand and gaining competitive
advantage (Layton and Ostermiller, 2017).
b. Project objectives
The main project objective is to gain competitive advantage in the widget market.
Another aim of the project is to enhance production capabilities by reducing production time and
using innovative ideas.
c. Project requirements and deliverables
In order to complete this project WRU will require skilled human resource. These skilled
people are able to put hard efforts in order to raise production capabilities of the business.
Furthermore, Project requires, technical resources. By having adequate advance technologies'
entity will be able to enhance quality of products and will be able to meet with the demand.
Project manager will require time resource (Kerzner and Kerzner, 2017). It has to schedule
activities in appropriate manner so that project can get completed within specified period of time.
Project deliverables in the present project of WRU are well trained employees,
information that require to make changes in manufacturing process, money, equipments, proper
planning, software etc.
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d. Key performance indicator
The major key performance indicators (KPIs) in the present project of WRU are
described as below:
 Timeline
 Budget
 Quality
 Increment in profit
 Customer satisfaction.
All these KPI are able to measure success of project. If project manager has completed
the project within specified time and with quality. Then it would be considered as successful
project. Furthermore, if cost has been controlled and revenues of the WRU has been increased
then it can help the company in gaining success and meting with the objectives.
PROJECT FEASIBILITY
a. Feasibility and sustainability of project
Project of WRU is feasible and by gaining success in this project, WRU can gain
competitive advantage. Cited firm is required to improve production capabilities so that it can
meet with the increasing demand. Strength of the project are:
 Skilled team members
 Financial adequacy
 Strong command over market
Weakness of the project are described as below;
 Poor innovation and ineffective implementation
 Poor support from department head
 Project scope is too large
b. Approval requires
Project is required to be approved under Environment effects act 1978 and aboriginal
heritage act 2006. EES scoping requirements also require because concern authorities investigate
documents as per the guidelines of EPBC act.
c. Project assumptions
 Suitable staff are identified and involved in the project for competing it with quality and
time.
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 Adequate budget and cost has been arranged that can meet with the criteria.
 Cost-volume-profit relationship are liner
 Per unit cost will remain same
 Local suppliers of widget products will collaborate in planning activities.
d. Known constraints
 Size of demand in the widget market
 Existing suppliers
 nature of competition
 Forecasting for demand, supply and price
 Competitor analysis is difficult.
e. Possible improvements
 Improve productive capabilities
 Improve communication between various departments
 Improvement in monitoring and controlling by departmental heads.
 Reduction in cost
 Improvement in revenues
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8. Project Stakeholders Management:
Important stakeholder Stakeholder Roles
Project Client ’R Us Widgets The ’R Us Widgets is
specialises in delivering high
quality projects to the
customers.
Project Sponsor Project Manager It is the duty of project
manager to ensure the quality
of services and projects in
order to increase the level of
competencies advantages.
Project Champion Johnson Firm has gained popularity for
for render projects solutions for
the customers effectively and
efficiently.
Project Manager Jack The project manager is highly
qualified, knowledgeable and
full of ability in order to
manage and handle the large
projects effectively.
Product Activities Corporate Executive Top level
manageme
nt
Senior
suppliers
Project
manager
Team
leaders
Acceptanc obtained A A A R P
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e record
Descriptio
n of roles
done R
Approval
of records
Obtained
Benefits
Review
Plan
Approved A A R
Updation
of
Business
Case
Confirm R
Checkpoin
t Report
Created
9. Project schedule management
A) Mile stone for the project
Phases: there are several crucial activities have been performed by manager such as concept
design procurement, construction, development, testing and launch
Communication: Essential information related to project is required to be communicated to
stakeholders .
Decision: It includes selection of appropriate vendor for completion of project.
Design :It is considered to be essential miles of stone of project which is formed by manager of
organisation in order to measure the progress.
Resources : it us required by project manager to ensure proper utilisation of resources.
Process : Testing of project will be conducted in order to identify the performance gap which is
very much essential for achievement of desired outcome.
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