Order 1328631: Project Management

What is the organizational strategic objective the project is meant to achieve?

· What are the high-level project description and boundaries?

· What is the business rationale for the project?

What is the organizational strategic objective the project is meant to achieve?

· What is the justification?

· What are the high-level requirements?

When will things be done?

· What is the milestone schedule? (A maximum of 12 milestones)

· What is the completion time of the project?

How much money is required?

Which kind, and how many, of equipment, materials, and labor is required?

· What is the summary budget?

· What are the budget constraints?

Who is involved in the project?

· Who are the key stakeholders for the project?

· Who is the assigned project manager, responsibility, and authority level?

· Who are the project sponsor and other persons involved in authorizing the project charter?

What are the major project (not business) risks? Project risks are those events that impact the project objectives, the measure of success, typically on time, on budget, and on scope.

· What are the high-level risks?

· What is the risk appetite of the organization?

What is success for the project and how will it be measured?

· What are the measurable project objectives and related success criteria?

· What are the project approval requirements (i.e. what constitutes project success, who decides the project is successful, and who signs off on the project)?

The project scope statement defines the project, i.e., what needs to be done? It addresses and documents the characteristics and boundaries of the project and its products and services and outlines methods of acceptance and scope control. The project scope statement must be clear as it forms the basis upon which decisions will be made throughout the project lifecycle. It provides a common understanding of project scope for all the stakeholders and undergoes refinement as changes are approved and are integrated into the scope of the project.

The project scope statement includes the following information:

1. Detail Product scope description

· What are the project and product aiming to achieve?

· What are the characteristics of the product or service described in the project charter?

· What are the quantifiable criteria that must be met for the project to be considered successful? Note that objectives should include cost, schedule, and quality measures that are quantifiable. Quantifiable metrics are more easily attained than unquantifiable objectives.

2. Product acceptance criteria

· What checklist will the client use to check if requirements have been fulfilled to their satisfaction?

3. Project requirements and deliverables

· List and description the major deliverables of the project whose full and satisfactory delivery would mark the completion of the project. This should be focused on project deliverables that would be at level 2 of the WBS.

4. Project exclusions

· What is in and out of scope?

· Exclusions should be listed because anything not explicitly included is implicitly excluded.

5. Project constraints and assumptions

The WBS should be in the tree hierarchy format shown in Module 4 and contain a between 40 to 50 boxes which include between 20 and 30 work packages that fits on one page. Some of the branches, but not all should go down 4 levels (0, 1, 2, 3), where Level 0 is the Project box. The boxes should contain the WBS Number and title.

Prepare a Gantt chart, as described in Module 5, using the WBS from section 2.2. For this project, there is no need to break the work packages in the WBS into activities. The Gantt chart should contain the same number of rows as the WBS. The following information should be on the Gantt chart:

· WBS Number

· Description

· Start date

· End date

· Predecessors

· Assigned resources

· The critical path

The Gantt chart can be done using MS Project or Excel. The timeline should be adjusted so the Gantt chart is only one page wide.

The milestone schedule contains a maximum of 12 milestones and the due date for each milestone.

Prepare the project budget and display it as a S-Curve, as discussed in Module 6. Refer to 4.2 for more details on how to prepare the S-Curve.

Show the supporting information that was used to create the project budget. As a minimum, this should include 2 tables. The first showing for each work package the development of the estimate (usually quantity multiplied by the rate). The second table showing the estimate for each work package (e.g., level 1 or level 2 activities) spread across the time period for the project (the S-Curve is taken from the total of the columns of this table). Remember the S-Curve is a cumulative graph

Sample Table 1 Work Package Estimates

Sample Table 2 Work Package Time Profile

Note

1. Total from Table 1 equals Total from Table 2

2. Project Total from Table 1 equals Project Total from Table 2

This Risk management plan describes how risks will be assessed, managed, and control for your project. It is a process document and does not list risk events. For this project the risk management plan should answer the following questions:

What is the risk threshold in qualitative analysis that will determine which risks will be subjected to quantitative analysis?

What scoring and interpretation methods will be used for the type of qualitative and quantitative risk analysis being performed? (See Module 9)

How are risks prioritized according to their potential implications for meeting project objectives? (See Module 9)

Who will lead, support and make up the risk management team for each type of action in the risk management plan? Will these people be from within the performing organization or independent of it?

What are the risk categories that will be used for the project? (find an example in slides of Module 9)

Below is a sample risk register template. The risk register template should be blank, it is just a template that is used during the risk assessment.

A complete risk assessment needs to be done for the project resulting in a complete risk register as described in Module 9.

Complete the table below, for 10 risk events

Complete the table below with the risks sorted by risk score, highest first.

Complete a quantitative analysis for one risk that is above the risk threshold. The quantitative analysis can be done using an of the tools discussed in class. Possible options are:

· Determine the impact of dollars of one of the risk events through simulation using Crystal Ball as described in Chapter 4.5 of the text book. To do this you will have to pick a risk event that impacts a number of work packages.

· Use expected monetary value to come up with the risk value for a risk event

· Run a simulation

Complete the table below, for 10 risk events

Remember all risk events with a risk score less than the risk threshold for the project should be accepted.

Complete the risk register template that was described in section 5.1.6, by using the results in sections 5.2.1, 5.2.2, 5.2.3, and 5.2.4.

<<Team name>> 7