Strategic Management: Trending
Assignment Specifications Please remember to follow the Assignment Specifications (these are applicable for all written assignments Unit 1-6, including the Unit 4 Team Assignment): Assignments should be written specifically for this course and meet each week’s Unit assignment instructions. You must demonstrate that you understand the material and how it applies to the assignment and project management. You should also be using correct APA formatting for your in-text citations to justify your discussion and place references at the bottom of the paper. Avoid using quotations, you should paraphrase the material and use an in-text citation to give credit to the reference. You should include at least different 3 reference sources (the course text, a scholarly peer reviewed type article, the PMBOK and PMI, etc...) and include a minimum of 6 intext-citations. Each assignment paper in this class (weeks 1-6, including the Team Assignment in wk4) should be between 600 and 800 words of narrative (from the Executive Summary (3 to 5 sentences) to the end of your Conclusion/Summary (4 to 8 sentences) and include analysis/recommendations. An acceptable paragraph must have at least three sentences. Points will be deducted for papers that are too brief and do not adequately address the topic or if the paper is too wordy and goes off topic. We urge you in the strongest possible terms to keep your paper between 600 to 800 words, if not it may lose grade points for the following reasons: Response is generally wordy and/or ambiguous, the overall structure of the assignment is not effective, appropriate in places, but elsewhere vague writing interferes with the development and clarity of the main points. Inconsistent and/or unclear writing either (too brief or too wordy) and did not demonstrate an understanding of the material. All papers must include: Cover page with student name, course, week/unit number of assignment, date, table of contents, Executive Summary (no abstracts); Introduction/background/discussion, (at your own discretion any headings you deem appropriate to organize your narrative), Analysis/Recommendations (as appropriate for the assignment) and Conclusion. The word count between the Executive summary and the end of the Conclusion narrative should be between 600 and 800 words for all assignments units 1-6. Please see the pdf file in doc sharing for formatting ideas (file name): Student-Sample-GM591 Unit 1 assignment-August-2014 For the 600 to 800 word count, begin counting at the Heading: Executive Summary and
stop counting at the end of your Conclusion (you can select this portion and let Word do
the counting for you) the paper should be 600 - 800 words, this does not include cover
page or references or charts/tables.
Project Need and Feasibility Assessment All charts, flow/mapping diagrams, tables, figures, graphs, photos, etc. must be inserted after the conclusion and before the references and are not counted toward the 600 – 800 word specification. Use headings to organize your work and to indicate that you have covered all of the essential components of the assignment. The file submitted must have your name and the unit number included (minus 5 points if not included): student.name.unit-1 Kris.Kringle.unit-1 Team-A.unit-4 Kris.Kringle.peer.assessment.unit-4 You must submit the peer evaluation for the unit 4 Team assignment (10 points deducted if not submitted). Unit 4 Group/Team assignments will not be accepted late. If you have verified “Extenuating Circumstances” the situation must be discussed with the instructor as soon as possible. Unit 1 Assignment: Project Need and Feasibility Focus Paper
Using the Demonstrating Project Need and Feasibility for a Project of Annuity worksheet, select a well-known project from the past (Pyramids, Eiffel Tower, Panama Canal, Suez Canal, Chunnel, Golden Gate Bridge, etc.) and determine if the project should have been initiated based on the principles outlined in your worksheet. Submit your assessment in the form of a focus paper of your findings. The objective of this Assignment is an analysis of your selected project with recommended courses of action to a problems or issues you found, and to present the recommended courses of action. Your focus paper should include the following components of a business proposal and in compliance with APA format:
Components
● Cover page (please see sample Unit 1 Assignment)
● Table of contents
● Executive summary
● Body of the proposal (use Headings to organize).
● Assess the core project concept. Determine the costs and benefits of the project.
Assess if the project scope, risk and strategy was defined clearly.
● Conclusion stated as a recommendation for implementation of your
recommended solutions or improvements.
● Reference page and any other data suitable for this section of the report (this
includes your completed worksheet to be pasted in the document after the
references).
● A minimum of 3 scholarly journal and textbook source references cited and
credited according to APA format using a minimum of 6 intext citations.
● The paper should be focused and to the point and containing between 600 and
800 words from the Executive Summary to the end of your Conclusion.
Checklist for Assignment
● Assess the core project concept ● Determine the costs and benefits of the project ● Assess if the project scope, risk and strategy is defined clearly ● Evaluate the quality of research associated with presentation materials
Directions for submitting your Assignment:
To submit your Unit 1 Assignment, go to the Dropbox and select Unit 1: Assignment 1 and follow the instructions. Make sure that you save a copy of each of the papers you submit.
Project Need and Feasibility Assessment
Unit 1 Project Need and Feasibility Assessment – Eiffel Tower
Student Name
Date, 2015
Professor – Dr. Tim Truitt
GM591 Strategic Project Management
Kaplan University
Project Need and Feasibility Assessment
Table of Contents
Executive Summary 3
Project Goal 3
Resources 4
Core Project Concept and Market Analysis 4
Costs and Benefits 4
Project Stakeholders 5
Project Strategy - Recommended Courses of Action to Problems or Issues 5
Conclusion 6
References 7
Appendix A - Project Need and Feasibility worksheet 8
Project Need and Feasibility Assessment
Executive Summary
After completing a project need and feasibility assessment utilizing the GM591
Unit 1 Worksheet: Demonstrating Project Need and Feasibility for a Project of Antiquity
(Appendix A) to analyze the project of the construction of the Eiffel Tower, I have
determined that the Project was indeed an early example of strategic project
management that achieved the targeted goals and benefits. The project goal and core
concept were clearly defined, the financial and organizational resources were provided,
and a market analysis to show the need and the costs and benefits were clearly
expressed. Project stakeholders were consulted and the project strategy was clearly
defined.
Project Goal
The goal of the Eiffel Tower project was clearly defined for the project sponsors
who would be the customer, client, final owner, or entity providing funding. A project
sponsor is the executive stakeholder who has full accountability for the project’s
outcome (Resch, 2011). In the case of planning the Eiffel Tower, the main sponsor
would have been Gustave Eiffel himself. The main goal of the project was to build the
world’s highest tower as an entrance gate to the Universal Exposition (World Fair) of
1888. (Bhatia, 2010).
Project Need and Feasibility Assessment
Resources
Gustave Eiffel developed a financial scheme which would later be considered an
early example of project finance. Under this finance model, “a public grantor awards a
concession to a project’s private sponsor” (Du Moutier, 2011, p.127). Organizationally,
Eiffel was known worldwide for his architectural skills as a metal constructor. His plans
included fifty engineers, 5300 blueprints, 100 ironworkers and 121 workers on the
construction site (Bhatia, 2010).
Core Project Concept and Market Analysis
The core project concept was clearly and succinctly expressed to the Fair
Commissioner in Eiffel’s proposal submitted on May, 1886. This was clearly to be an
achievement in metal structural engineering that would help promote French knowledge
and industry and become an attraction to the public for at least the following 20 years,
after which time, the city of Paris would have the right to take down the tower (Du
Moutier, 2010). That, of course, did not happen. The need for the project was
determined by the planners of the 1988 World Fair who, by requesting proposals for
such types of unique and amazing exhibits every year, create an market need for such
one of a kind exhibits and constructs.
Costs and Benefits
The costs and benefits were clearly expressed in the contract signed by Gustave
Eiffel, the country of France and the city of Paris. France would offer approximately one
Project Need and Feasibility Assessment
quarter subsidy for the project and Eiffel would finance the rest (Wallace, 2013). In
return he would be reimbursed by the operating revenue from the fair and for the 20
years to follow. The benefits of the project are directly related to the core project goal
and concept of creating the tallest metal structure in the world to the benefit of France.
Project Stakeholders
There were many stakeholders involved in the Eiffel Tower project. On board
were Eiffel and his contractors and workers, the country of France, the city of Paris, the
Fair Commissioner, and the banks funding Eiffel’s portion of the project. There was
some public disagreement, even outcry, about whether the tower would be an eyesore
and ruin the otherwise beautiful cityscape (Wallace, 2013). But the feasibility and scope
of the project had been defined and the option to tear down the structure after 20 years
answered any long term aesthetics concerns for Paris.
Project Strategy - Recommended Courses of Action to Problems or Issues
The project strategy for the Eiffel remained clear and consistent from its
conception by Gustave Eiffel. The Tower would be the tallest metal structure in the
world. It would be presented to the world during the 1888 World Fair in Paris as a 300
foot tall gateway. It would represent both artistry and architectural achievement for Paris
and through visitor revenue, would pay for its own construction.
Project Need and Feasibility Assessment
Conclusion
Well planned projects have a clearly defined goal, resources, costs, benefits,
core project concept, and strategy. A variety of needs and stakeholder analysis need to
be conducted during the early planning phases. The result of the project should have a
business value (Project Management Institute, 2013). The Eiffel Tower project was an
ideal early example of strategic project planning. It still stands today as the symbol of
Paris, France to the world. Today it welcomes almost 7 million visitors a making it the
most visited monument with an entrance fee in the world (tour-eiffel, 2013).
Project Need and Feasibility Assessment
References Bhatia,S. (2010). Manage management lessons from Gustave Eiffel. Retrieved from
http://www.managementcanvas.iimindore.in/icanvas/index.php?option=com_cont
ent&view=article&id=120:management-lessons-from-gustave-
eiffel&catid=44:other-areas&Itemid=61
Du Moutier, M. (2010). Financing the Eiffel Tower: Project finance and agency theory.
Journal of Applied Finance, 20(1), 127-141.
Project Management Institute. (2013). A guide to project management body of
knowledge (PMBOK® Guide) (5th ed.). Newtown Square, PA: Project
Management Institute.
Resch, M. (2011). Strategic project management transformation. Fort Lauderdale, FL: J.
Ross Publishing.
Tour-Eiffel. (2014). Retrieved from http://www.tour-eiffel.fr/en/everything-about-the-
tower/the-eiffel-tower-at-a-glance.html
Wallace, N. (2013) The Eiffel Tower 1889. Retrieved from
http://www.jssgallery.org/essay/worlds_fairs/paris_exposition_1889/eiffel_tower.h
tm
Project Need and Feasibility Assessment
Appendix A
GM591 Unit 1 Worksheet: Project Need and Feasibility worksheet Instructions: This worksheet is designed to help you decide whether the chosen project team addressed their fiduciary responsibilities and obtained enough information to prove to you that the project you researched was needed and was feasible. Research your chosen project of antiquity and ask yourself each of these questions. Check Yes for those questions that were addressed adequately. If you check No, conduct the corrective actions in italics.
QUESTIONS YES NO Was the project goal defined clearly, in terms that the sponsor can understand? If not, how could the goal have been redefined?
YES Xxxxxx
Is the sponsor financially and organizationally able to provide all needed resources? If not, who was the real sponsor and could they get the real sponsor involved?
YES Xxxxx
Did they express the core project concept clearly and succinctly? If not, redefine the core project description for them.
YES Xxxxxxx
Was some form of market analysis or needs analysis conducted to show a bona fide need for the product (deliverables) of the project? If not, should project have been abandoned or an appropriate analysis that proves project need be provided?
YES Xxxxxx
Did they clearly express the costs and benefits of the project? If not, restate the description of costs and benefits in terms appropriate to the situation.
YES Xxxxxx
Did they consult all project stakeholders to obtain their opinions about the need and feasibility? If not, identify missing stakeholders and explain how they could have addressed this requirement.
YES Xxxxxxx
Did they define the project strategy in enough detail to enable the sponsor(s) to really understand what they’re getting into? If not, restate the project strategy in a way that can be understood.
YES Xxxxxxx
Are the results of the research assembled into a well-written
Project Need and Feasibility Assessment document and/or presentation? Ensure all APA and writing requirements are met. *Sponsor is the customer, client, final owner, or entity providing funding. The sponsor has the power to provide funds, approve the use of resources, and/or stop the project.