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Running Head: PROJECT PLAN OUTLINE 1

Project Plan Outline

2

Project Plan Outline

FIN 575 / Budgetary Finance

Project Plan Outline

Like any professional team, project management requires a game plan for executing the plan. This paper will create an outline for a special project for the case study of Pontrelli Recycling, Inc. A description of the seven primary planning activities will be introduced. An evaluation of the project execution and alignment to the corporate strategy will be discussed. Finally, an illustration of how project control may mitigate risks for the organization will be given.

Project Charter

The start of any project should include the project charter. The project charter identifies the project scope. These would include “client goals and objectives, specific project goals, and information about the various stakeholders” (Callahan, Stetz, & Brooks, 2007, p. 157).

Project Deliverables

“Deliverables serve as a general term that encompasses the requirements of a project” (Investopedia Staff, 2013, p. 1). In other words, these are the goals and objectives of the organization brought to life. In the case of Pontrelli Recycling, these would be the realization of cost cutting initiatives, the realization of new revenue streams, and enhanced stakeholder value.

Tasks

Tasks are a description of the work that the project team members need to accomplish in order to deliver on the project. These could include a industry survey on the types of equipment used to handle different material streams for recycling or a business process analysis to identify opportunities to enhance process efficiency.

Resources

It would be impossible to deliver a project without identifying the resources needed to complete the deliverables. These would include “personnel (, equipment) and other resources” (Callahan, Stetz, & Brooks, 2007, p. 157). Identifying the resources needed is a key component to accomplishing the project deliverables in an efficient manner.

Estimate of Effort

An estimate of effort is needed to understand the amount and scope of the need from the resources. For example, how many person hours would be needed to accomplish the task of researching the process flows to identify efficiencies in production. This would help to realize the amount of each resource needed to accomplish each task.

Risks and Constraints

Listing the risks and constraints to the project and its resources is important to be identified earlier in the process. This would allow the project team to plan to overcome these if they arise. For example, if personnel assigned to the project become unavailable a contingency plan completed ahead of time may be activated to overcome this risk.

Project Schedule

Creating a project schedule begins with the end in mind. By scheduling the project milestones helps the project manager to assure that the process is on course to meet the project completion date. Additionally, by scheduling activities helps to assure that each of the project teams are working to the deadlines.

Risk Management

By initiating project control, the project manager can help to mitigate Pontrelli’s exposure to risks. “A key concept for project control is the control account that functionally integrates the project control plan components (i.e., cost, schedule, resources, risk, and procurement)” (AACE International Staff, 2008, p. 1). Project control allows the project management team to review the project waypoints and review risks to adjust the project processes in response to current data on risks.

Project Outline

The following is a representation of a high-level project outline for the Pontrelli Recycling project:

Project Charter

· Project Description

· Incorporate new technologies and identify other recyclable material streams.

· Organizational goals\

· Increase stakeholder value

· Project Goals

· Implement new technologies to enhance efficiency and capture other revenue streams. While maintaining competitive and providing a fair rate of return for investors.

· Stakeholders

· Stockholders

· Employees

· Clients

· Community at large

· What does success look like?

· Successful project completion will be technological innovation that reduces long term cost of recycling, increasing top line growth, reducing costs, and enhanced stakeholder value.

Project Deliverables

· Research

· Current technology

· Other material streams\

· Business needs

· Lean process analysis

· Written RPS

· Technology vendor assessment

· Evaluate vendors

· Award contract to winning vendor

· Written procedure and operating plan

· Written training plan

· Written equipment maintenance plan

· Update hazardous communication plan

Resources

· People “with the required skill sets and experience” (University of Bolton Staff, 2011, p. 1) to conduct research, efficiency experts, and technical advisors

· Equipment – Software, hardware, and any other equipment needed to achieve the tasks. IE, Project planner software.

· Budget – financial plan of the funds allocated to the project

Effort

· Estimates of team effort needed to complete the tasks

· Time needed

Risks and Constraints

· Time to implement

· Cost

· Resource availability

· Training needs

· Work force reduction

Schedule

· Task start/stop dates

· Milestone completions

· Project end date

· Steering committee and project team meetings

Resources

AACE International Staff. (2008). Project Control Plan Implementation. Retrieved from AACE International Web Site: http://www.aacei.org/non/tcm/8.1.shtml

Callahan, K. R., Stetz, G. S., & Brooks, L. M. (2007). Project Management Accounting. Hoboken, New Jersey: John Wiley & Sons.

Investopedia Staff. (2013). Deliverables. Retrieved from Investopedia Web site: http://www.investopedia.com/terms/d/deliverables.asp

University of Bolton Staff. (2011, October 3). Project Resources. Retrieved from University of Bolton Web site: http://data.bolton.ac.uk/learningresources/projman/units/u03/u03.htm#x1