PM DQ Week 9 Assignment

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Project Initiation

Terrell McGhee

Project Management 22TW5

SNHU

6/26/2022

Project Initiation

Introduction

Fabricant Manufacturing is an American firm with headquarters in the northeast that manufactures and sells metal parts for various industries throughout the United States (Graded Case study part 1). The Company has experienced significant development and expansion over the years, and as a result, it has shifted its attention to sustainability and responsible business practices. The Chief Executive Officer has even outlined some goals for the Company to achieve regarding sustainability. The sustainability objectives of Fabricant Corporation are to reduce energy consumption by at least 20 percent, generate a minimum rate on the project of 15%, and sensitize the community on environmental concerns. To achieve these goals, the company strategic planning manager has proposed three sustainability projects which the managers can choose to implement. One such investment includes industrial lighting retrofit; this report provides a critical feasibility analysis of the project to assess its viability and sustainability while evaluating how it is aligned with the Company's strategic goals. This report will also design a project charter, create timelines, and provide a stakeholders' analysis by evaluating the support level of various project stakeholders.

Project’s Feasibility Analysis

A feasibility study aims to determine the possibility of successfully executing a project by conducting an investigation that considers all of the essential aspects of the project, such as its scheduling, legal, economic and technical issues (Guo & Zhang,2022). The Company is responsible for ensuring that the project is aligned with its long-term objectives and has the necessary resources to run it. The corporation must decide how it will finance the project and choose between using its resources and taking out loans. In addition, they need to evaluate whether or not they have the human resources necessary to execute the project or if they will be required to enlist support from outside the organization.

The initial cost outlay for the industrial lighting retrofits is estimated to be $ 310,000, and it will reduce the Company's operating costs by $ 145,000 annually (Graded case study, part 1, 2022). From the economic standpoint, the industrial lighting retrofit project is feasible because its return on investment is estimated to be 89 percent which is over and above the Company's return on investment of 15 percent. Additionally

the project is also technically viable since Fabricant Manufacturing company has a highly technical team of employees with the requisite skills to manage the project a reality.

Alignment of the project to the Company's strategic goals

The influence of the corporate strategy is what ultimately determines the designs of the project management plan. When the project design is precisely integrated with the organization's processes, it increases the chances of success since the project-strategy synergy will accurately guide the project stakeholders. The traceability matrix will be used to understand the alignment of the solar panel project with the strategies of Fabricant Manufacturing. Traceability Matrix is a table that connects the project’s specifications to their source and traces them across the project's life. This document is essential because it guarantees that each demand for the project can be related to a specific business goal. This is a necessary aspect of the project as it enables the project manager to effectively explain the project requirement to the stakeholders, hence increasing the likelihood that the project will be supported to its completion. The industrial lighting retrofit is essentially aligned with the strategic objectives of the Fabricant Manufacturing Corporation. For instance, the goal of the Company of reducing energy consumption by at least 20 percent is concisely aligned with the benefits of industrial lighting retrofit since the project will save the Company close to a 1.1million kWh of energy annually (Graded Case study part 1). Besides, the project is also in line with the CEO's Objective of increasing community awareness about environmental sustainability. The benefits associated with the project will be produced in the Company's publications and the website to enable members of the public to be updated. The Company's economic strategy is also closely tied to the project since investing in industrial lighting retrofits will result in a return on investment of 89 percent in the first year of implementation.

Industrial Lighting Retrofit Project Charter

Documentation of the project's objectives, development, and scope is contained in a project charter, which also defines the roles and duties of stakeholders. In most cases, the project manager is the one who drafts the scope statement (Tri Mardiani, 2020). This document describes the project's entirety, including any deliverables, their characteristics, and a profile of stakeholders the project will impact. In addition to that, it will detail any main project objectives, deliverables, and goals to assist in performance evaluation. Finishing off the project scope statement demands making a list of assumptions and risks. A project manager will better understand the project's outcomes and develop a blueprint to execute the project successfully.

Project Title	Industrial Lighting Retrofit
Project description	Replacement of the manufacturing facility and office lighting system
Background	The company's Strategic objectives of reducing energy consumption, increasing community environmental awareness, and enhancing the return on investment.
Project objectives	Annual energy saving of close to a 1.1million Kwh. Reduction in the operating cost of close to $ 142,000 year
Scope statement	Fabricant Manufacturing Corporation to reduce energy consumption and increase community environmental sustainability awareness.
Project budget	Initial capital requirement of $ 310,000
Stakeholders	The Company CEO, strategic manager, the financial analyst, project manager, communication officer, logistical manager, employees, and community
Role and Responsibilities	The CEO- Ensure the project is aligned with the organization’s goals Financial Analyst- Provide capital appraisal report Strategic manager- ensure the project is linked to the company objectives
Milestones	LED replacement completed T-8 Vaportite fixture completed
Risk	Disruption of production during installation affects the output The team does not possess all the possible skills and knowledge
Measurement	Energy-saving cost and energy-saving Kwh.
Approval	The company CEO and the project team
Sources:	Graded Case study parts 1, 2, 3 and 4

Project Timeline

A timeline for a project is a sequential description of all the activities that need to be accomplished to complete a task. The entire project is molded by these timeframes, keeping stakeholders abreast of each project step (Hande & Phillippi, 2018). The project manager is responsible for ensuring that the milestones are reached and that the project's costs are kept low and within budget. The timelines of the industrial lighting retrofit are expected to be short, close to 3 months, to avoid disruption of the production process. The initial capital commitment is projected to be $ 310,000, which is anticipated to be offset by a rebate of $ 245,000.

The concern of Key project stakeholders

Depending on their level of involvement in the project, various stakeholders would have diverse issues. Internal stakeholders such as project managers and inventors may cite cost as their primary concern. On the other hand, external stakeholders such as the public may mention the environmental issues. The problem of the internal stakeholders about the project is associated with the potential risks of the project, such as budget overlaps, the disruption of the production process during project installation, the occupational health and safety concerns, and the possibility of the new technology failing to generate the required results (Graded Case study 1 part 4). It can also be noted from the email of the production foreman that some employees were repugnant to the replacement of the lighting, and they expressed their unwillingness to work overtime.

Support for the project

The CEO of Fabricant Manufacturing company enlisted the support of various think tanks in the Company to ensure the project's success. Mr. Lee engaged stakeholders in all cadres for instance, in the list of implementers were the truck drivers to provide transportation support. To ensure that the project conforms to the environmental requirements, the CEO engaged Trudy Noble to provide an environmental assessment of the project. Additionally, Paul Callahan, a logistical expert, was enlisted to ensure that all project deliverables were acquired on time and within the budget (Graded Case study 1 part 2). The CEO also understood the importance of communication in the project's success, especially in achieving the object of public awareness; he, therefore, called for the support of Jeff Salvatore, a public relations and communication guru.

Stakeholders Analysis

Name	Role	Interest	Power	Classification
Lee Feinberg	Chief Executive officer	High	High	Close Management
Janice Scott	Strategic manager	High	High	Close management
Vivian Liu	Leader of the project	High	High	Close management
Trudy Noble	Environmental manager	High	High	Close Management
Perry Silverman	Finance Analyst	High	High	Close Management
Employees	Implementers	Moderate	Moderate	Monitored
Community	Supporters	Low	Low	Monitored

Conclusion

Implementing the industrial lighting retrofit project will help Fabricant Manufacturing Company achieve its three strategic objectives. The feasibility study of the project points to the close link of the project to the strategic plans of the Company; as such, it will be ideal for energy-saving and building the Company's sustainability objectives.

References

Guo, K., & Zhang, L. (2022). Multi-objective optimization for improved project management: Current status and future directions. Automation in Construction, 139, 104256.

https://www.sciencedirect.com/science/article/pii/S0926580522001297

Hande, K., & Phillippi, J. (2018). Project Timeline Template: A Guide for Successful Completion. Nurse educator, 43(3), 115.

https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5908739/

Tri Mardiani, G. (2020). Template Project Charter.

https://repository.unikom.ac.id/64644/1/Template%20project-charter.pdf