Restoring 100-Year-Old Farmhouse - Business Plan Example

3) Project goals in terms of triple constraint Introduction With the of our project as; ‘Restoring 100 year old farm house to its original condition with modern materials’, we, as the members of Team A came up with the following goals. It should be noted that the goals were based on the triple constraint terms which identify cost, time and scope as the three constraints in project management. The goals are all set under their respective constraint, as the following part indicates; Time 1. To identify and make a clear definition of the environmental factors that might affect the project; statements that will demarcate the scope of the project; assets owned by the group to use in the restoration of the roof; time plan to indicate the breakdown of the structure of the work; and a plan that will assist with the management of the project. 2. To identify and make preparations for the tools that will define the activities including making plans for the materials, discuss wave planning, find expert judgement for the project, come up with a decomposition and specified activity templates. 3. To come up with definitions of outputs of activities including coming up with a list of activities that will guide the project; identify possible milestones; make modifications on the list of request and finally enumerate the attributes of the scope of activities to be carried out for the project. 4. To identify and come up with inputs for the sequencing of inputs for the project including coming up with a statement that will identify the scope of the project; identify and record the intended activities and their attributes; and note down requests that will have been approved. 5. To utilize sequencing tools, for example templates on network, arrow diagramming techniques, and procedure diagram technique. 6. To arrive at the updates for activities, network diagrams and make any necessary changes. 7. To come up with estimates of activity resources where tools like estimated data, grassroots estimation will be used to engage the resources to be used for the project. The step will be expected to come up with all the requirements expected of the project, dates for the various activities and a structure showing a breakdown of the different activities for all the team members. 8. To come up with an estimate of the duration of time that will be needed for each activity to get accomplished. The things to consider include the assets and resources available for the group, risks expected and the estimated costs of the activities. To estimate the duration for the project activities, expert judgement from the lecturer will be sought for where updates and estimates of activities will be verified. 9. To develop a schedule based on the activities planned, diagrams made, and estimated time for the activities as per methods identified, make reschedules as required, and adjust any discrepancies. The emerging factors like newer updates, date changes and request for changes will be taken care of accordingly. 10. To undertake a schedule control based on the report of performance, updated management plan and accumulating changes. The points of action on the schedule control will be identified with the assistance of measurements of performance, variance and the accumulating reports on the progress of the project. The expected output including the baseline on which the schedule will be found, changes to be made, the updates on the management plan, activities, and attributes will be noted for making later progress on (Dobson 2004). Cost 1. To make an estimated budget on the financial costs for the entire project as a guide to the expected amounts. This goal will put into consideration the chances of price increases or decreases for the two months project period. Cost estimations will be made through analogous comparisons, bottom up approach, and making analysis through vendor bids. 2. To identify the cost control factors to enable the envisioning of cost fluctuation, and variance in output of the estimated costs. The tools to be used to meet this goal include making comparisons from estimates made in former years and embark on enquiries from experienced persons (Dobson 2004). Scope 1. To make a detailed account of all the requirements needed to satisfactorily restore the roof. 2. To make a detailed overall definition of the accomplishments expected of the project which in a nut shell comprises of progressively tracking the progression of the project, starting and completing the project on time, allocate quality time and duty for each member of the team to embark on reconstruction of the roof, reconcile financial estimates with the actual costs of items in the budget, erect a firm, long lasting, durable, appealing and exceptional roof, among others (Dobson 2004). 4) Time: completion date of the project The project has great demands of time for the completion of the activities deemed necessary to have the project have a satisfactory result. The time frame for the project is two months therefore all the activities must be reflected in the two months time frame. With this in mind, Team A came up with the following work breakdown structure/ time plan; Work breakdown structure for the ‘Restoring 100 year old farm house to its original condition with modern materials’ project Time frame Activity Specifications Week 1 Reconnaissance Take a pre visit to the physical location of house Examine the physical environment of the house and the elements that need to be changed from the roof Week 2 Brainstorming Strategize on how to take up the project Identify materials required for the project Listing points offered Identify components for the budget Check out prices for the cost of erecting the roof Have the proposal reviewed by the lecturer Week 3 Design project plan Make changes based on lecture’s and members’ proposals Design two project plans one being an improvement of another within two sittings Preparation of a budget Have the proposal reviewed by the lecturer Week 4 Fund raising Present budget, amend, make final copy and raise funds with it Look into practicability of the project Make necessary changes Introduce duty sharing Mid project evaluation with help from lecturer Week 5 Duty sharing Give clear instructions on duty expectation for each member Give a time line for completion of duties Week 6 Construction Undertake the actual construction of the roof Week 7 Week 8 Conclusion Make concluding touches Final evaluation with lecturer’s help Reference Dobson, Michael Singer (2004) The Triple Constraints in the Management of a Project Management Concepts Read More