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info_for_matrix_assignment.zipInfo for Matrix Assignment/Memo for Matrix Assignment.docx
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Boecore |
Memo
To: |
Executive Staff |
From: |
Toni Stewart, Program Manager |
cc: |
Chief Finance Manager |
Date: | October 8, 2016 |
Re: |
Project update |
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Introduction: Following the award of the contract to supply backpacks with built in refrigerated pouch and radio module, I would like to start the process of developing the product for timely delivery to our client. The contract entails producing and supplying backpacks given a budget of $1,500,000. The time duration is for the contract is one and half year from the award date. The expected deliveries have been split into three dates with the first and the largest expected to be made in September 1, 2016 and the last on last day of the contract. Given the milestones, we need to do a project review at the client’s site to strategize on how to start the project.
Customer: U.S. Army, Ground Forces and Special Operations.
Initial program action items: The product design needs be brainstormed. We can interact with the client to agree on the desirable design of the project based on the project definitions specified above. More specifically we need to brainstorm on the preconditions of functional and operational requirements and design limitations. I would like to assess the current and future transport issues which we need to sort. We need to identify different alternatives before choosing the most viable alternative to use to transport the finished products to the client. We also need to assess the environmental issues relating to the production and transportation of the product. If need be we should get a permit and address any regulations relating to environmental issues. This is aimed at mitigating the risks of the product development. Finally, we need to start placing orders to suppliers to facilitate the development process.
Project Risks / Risk Mitigation strategies: The first risk is delayed accomplishment of the set milestones. This may be escalated by the number of employees of the contractor and the work involved in each product. The problem may be solved through increasing the number of employees even if it’s casual workers until the project is completed. The second risk is the financial risk whereby the increase in cost of labor may be out of the set budget. This may be mitigated through recruiting cheap labor for manual jobs. The third risk is the probability of failure to achieve the expected results by the senior management because of financial and time constraints. It can be mitigated through constant internal project monitoring and review. The fourth risk is environmental pollution which may be hazardous. It can be mitigated through proper planning for the disposal and elimination of hazardous waste and other by products from the production process. The fifth risk is the probability of delayed payments which may delay funds for other investment opportunities. This can be mitigated through financial derivatives like options and futures contracts.
Memo Conclusion: We must start soon to eliminate most of the risks mentioned above. The initial project processes need finances and an initial budget will be circulated next week for your approval to facilitate the project design and development process.
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Info for Matrix Assignment/TStewart_Module 2 Project Assignment_101616.doc
PROJECT SCOPE STATEMENT
Written by: Toni Stewart
Date: October 16, 2016
Position Held: Project Manager
PROJECT OBJECTIVE
The overall goal of the project is to design, develop, produce and deliver Backpacks which have built in refrigerated pouch and radio module.
DELIVERABLES
Project Description
The project is initiated by a won contract from U.S. Army, Ground Forces, and Special Operations. It's a one year and a half duration contract with a projected contract price of $1,500,000. The delivery schedule is divided into three deliveries; the first one occurring twelve months after the contract award date, then the other two follow one after the other in an interval of three months.
Project Assumptions
· It is assumed that the
· It is assumed that there will be no inflation during the contract period.
· That the buyer will make payments on and as agreed.
Project goals
· To earn revenue for the company.
· Deliver quality products to the buyer
· To give customer satisfaction through customer care and timely delivery.
Project constraints (if any)
· Sources of finance are constrained since there are no other mentioned sources to start the project.
Project limitations
· The project is limited to the contract amount that is $1,500,000
· Given that the contract was awarded on 1 Sep 2015, A three-month delay on customer funds would compromise our first delivery schedule.
Project milestones
· First delivery: September 1, 2016
· Second delivery: December 1, 2016
· Last delivery: March 1, 2017
· First milestone payment (from customer): October 30, 2015
· Second Milestone Payment: January 30, 2017
· Final Milestone payment: May 30, 2017
· Initial Program review (at the client's site): November 16, 2015
· Subsequent Program Reviews: 6 months after the initial review
Project risks (initial assessment)
· Financial risks
· Inflation risk
· Delay risk
TECHNICAL REQUIREMENTS
· On-time delivery for the three stated product deliverables
· Desire to complete the total program under the stated budget of $1,500,000
· All milestones accomplished by due dates listed
· Supplemental (follow-on) contract for future additional units (backpacks)
LIMITS AND EXCLUSIONS
· List all limits and or exclusions to the project
· The milestones will not be accomplished by listed due date because of the unexpected events occurring.
CUSTOMER REVIEW
· The client is supposed to review the quality of the products delivered to his or her company.
Unexpected events and their impacts
Oct 15, 2015, Customer notifies you that the first milestone payment will be three months delayed. What is your course of action? The optimal course of action is to secure another source of finance like so as not to delay the project's start time. The source of funding can be sales credit from another supplier since we are not sure about the financial position of the company.
March 15, 2016. The material pattern for the backpack will not be available to meet your initial production start date. What’s your course of action? Change the initial delivery schedule due to the change in material availability for the first delivery. I must notify the executive and the customer about the unexpected change in schedule so that we allow time to get a good flow of primary materials from another supplier or until the current provider sorts the supply issues.
May 15, 2016, Customer notifies you they would like to increase the initial delivery from 100 backpacks to 150. What's your course of action? An increase in the initial delivery quantity necessitates an increase in the factors of production. An additional budget will be required to increase materials and human capital.
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