Management of a Project - Coursework Example

Table of Contents Table of Contents 1 Project Summary 3 Introduction 3 The Function/ purpose of the Project Plan 3 Risk Assessment 3 Background Information / Existing Alternatives 4 The work that has been done so far is the selection of materials that are to be used in the contraction of the remote control helicopter. As stated earlier construction material for the helicopter are already available based on the fact that this is just an ongoing project of exiting projects in the organization. 4 4 The Project Approach 4 The approach that will be adopted in the project involves the stages of the actual development of the remote control helicopter. This are the milestone of the project which include; 4 Goals and Objectives of the Project 5 Business Objectives 5 Project Objectives 5 Scope 6 Definition of Scope 6 The Estimated Budget 6 Risk Assessment 7 Risk Register 8 Assumptions of the project 10 Constraints in the Project 12 Key Barriers of the Project 12 Project Management Approach 13 The Timelines of the project 13 Project Responsibilities and Roles 14 Management Issues 18 Communication Plan 20 The methodology of communication 21 Communication Events 21 Meetings 22 References 23 Frame, J, 2003, Managing Projects in Organizations, Sage 23 Harvard Business School Press, 2006, Managing Projects: Expert Solutions to Everyday Challenges, Harvard Press 23 Palhan, K, 2005, Managing Projects, Sage. 23 Project Summary Introduction The Function/ purpose of the Project Plan The project plan for creating a remote control helicopter will first of all play the role of defining the project. This will include defining the objectives and the goals of the project. The other purpose of the plan is to highlight the general direction and clear responsibility of the project. In addition the plan will be used to measure and evaluate the progress of the project while its underway. The plan will also cover the following highlighted areas; The project management approach to be used The responsibility and roles of various stakeholders Outline the rules to be used in the project The timelines The budget Risk Assessment Assumptions of the project The conceptual design of remote control helicopter Background Information / Existing Alternatives The work that has been done so far is the selection of materials that are to be used in the contraction of the remote control helicopter. As stated earlier construction material for the helicopter are already available based on the fact that this is just an ongoing project of exiting projects in the organization. The Project Approach The approach that will be adopted in the project involves the stages of the actual development of the remote control helicopter. This are the milestone of the project which include; Milestone 1; Design Milestone 2; Production Milestone 3 Compliance Testing Milestone 4 Marketing Goals and Objectives of the Project Business Objectives Developing a remote control helicopter is to attain a considerable market share for children between the age of 10-15. By creating the remote control the business will gain a larger market share based on the fact that the product will capture a segment or an age group that has not been exposed to the product. Increased market share to satisfy the needs of children between the ages of 10-15. Improved sales essentially from the Christmas holiday opportunity Enhanced level of customer satisfaction of children between the age of 10-15 Project Objectives The second goal of the project is to ensure that the product will be all set on shelves of various stores by 2012 Christmas holidays. This therefore implies that a lot of focus will be put on the set deadlines and also the milestones in order to guarantee that stated timelines are attained. Scope Definition of Scope The project will advance an existing technology of remote control helicopters for children between the age of 10-15. This will include; Developing a product that will meet the standards of current existing technologies in the toy manufacturing industry The use of good quality plastic materials in order to develop the body of the helicopter Control software and hardware will be used in order to attain the current technological standards. Developing a product that will meet the required safety standards for children The Estimated Budget The estimated budget for the project is about 2750,000, 000, the highlighted cost is inclusive of any overheads that may be encountered during the various stages of the project. A risk that may occur in terms of the estimated budget is the cost overrun. Winch (2010) highlights that cost overrun are costs that are unforeseen during the budgeting period. The costs may include administration costs that are unexpected and additional costs associated to the innovation of the product. The effect of the cost overrun is that it will increase the cost of production which may affect the schedule of the project. In order to prevent the cost overrun problem during the project resources should be used effectively. Project Budget and Funding Sources $,000 Milestone Milestone 1 Design $900,000 Milestone 2 Production $300,000 Milestone 3 Compliance Testing $1,500,000 Milestone 4 Marketing $50,000 ,000 TOTAL &2,750,000 ,000 Risk Assessment The preliminary risk Assessment that was undertaken in the scoping document attempted to identify prioritize and characterize a risk reduction approach that could deal with risks that can be recognized before the beginning of the project and at the start of the project. Risk assessment will however be undertaken continuously; it will also be updated and moderated as the life of the project continues. This will entail provision of a risk status report. The report will be open to any sort of changes or amendments as the project continues. In addition, as the project proceeds, the approaches that are to be used for risk reduction have to be agreed upon by the leadership of the project. The risk reduction approaches will be agreed up on the basis of the following; the effects of the risk to the project, the possibility of mitigating or reducing the risk. The steering committee of the project should therefore meet regularly in order to identify ways of mitigating risks and also identifying new risks that may have arisen during the project. The project manager is charged with the responsibility of communicating any sort of proposed contingencies and amends to the steering committee frequently. This could be on monthly basis or even on a weekly basis (Dayal, 2008). Risk Register Id Description of Risk Impact or consequence Likelihood/ Seriousness Rank (High/low) Mitigation Actions (Preventative or Contingency) Individual/Group Responsible for Mitigation Action Timeline for Mitigation Action Scope creep Product safety Budget over runs Delays with suppliers May affect budget, schedule, quality requirements and even the failure or success of the project Bad publicity, which may lead to loss of business. Project Cost increases and profit decrease, Production schedule delay, finance supply chain may break down. Costs may increase, materials needed may not be found Medium Medium Low High High High High High Agreeing with stakeholders, Evaluate the diversification of schedule, discover the cause of scope creep Understanding of legal requirements, compliance with safety requirements Use material effectively, In case material are finished report to the project manager The company should have alternative suppliers Project Manager Project manager, operation manager, Compliance test team manager Project manager, project team Operations manager ,procurement staff I Month 5 Months Entire project period 2months Assumptions of the project In coming up with this particular project plan, the following assumptions were made: The management of the organization should ascertain that the team members of the project are available as required in order to attain the objectives and tasks of the project The staff of the Aero Toys Company should be willing to transform the existing operations in order to effectively take advantage of the newly developed technology of a remote control helicopter The inability to recognize changes for the purpose of drafting deliverable will eventually lead to the inability of the project to attain the outlined timelines The steering committee is expected to be fully involved in the implementation of the project plan in a timely manner (the committee should be ready to be attending meetings as required and also approve the stages of the project cycles on time). The team members of the project have to stick to the project communication plan The higher and lower levels of management are supposed to fully support the objectives and the goals of the project The management should ensure that adequate resources exist in order to successfully complete the project All participants of the project will follow the rules and regulations identified by the project plan Changes in the project plan may occur as new issues and ideas are discovered Constraints in the Project The constraints that have been identified by the project so far include; Interference of the project by other existing projects in the company Scope changes may arise which may further result to an increase in the budget allocation for the project Key Barriers of the Project Apart from the existence of risks, the barriers that may affect the project are basically undefeatable factors that can abstract the initiative of the project (Frame, 2003). Some of the probable barriers include; Deduction in the funding of the project If target market does not accept the product as intended by the objective of the project Competitors imitating the project and introducing it to the market Project Management Approach The Timelines of the project The table presented below indicates the key timelines for the project .The table also highlights the approximated dates for completion. Activity date Responsibility Project Start 20 June 2012 project manager Design- Stage 1 29 July 2012 Lead mechanical designer, workshop support Mechanical designer, Lead industrial designer, procurement specialist, Industrial designer, Design- Stage 2 28August 2012 Mechanical designer, Electronic designer, Lead mechanical designer, Lead electronic designer, procurement specialist, workshop support, Product tester Design- Stage 3 19 September 2012 Mechanical designer, Electronic designer, Lead mechanical designer, Lead electronic designer, Procurement specialist, Workshop support, Marketing Team Design- Stage 4 9 November 2012 Electronic designer, workshop support, procurement specialist, Project Manager, Industrial designer ,Mechanical designer, Product tester Compliance Testing: Stage 5 20 November 2012 Electronic designer, Mechanical designer Industrial designer, workshop support, Project Manager, procurement specialist Marketing :Milestone 4 28 November 2012 Marketing Department Project Close Out 10 December 2012 Project Manager Project End 12 December 2012 Project Manager Project Responsibilities and Roles Role Responsibilities Participant(s) Steering Committee Approves the main resource and funding allocations Hands over resources for every department Identified significant changes and strategies to be used by the project Dispute and conflict resolution incase they arise during the project Give direction to the manager concerning any matters that may arise during the project Review the deliverable of the project Members of the Steering committee Project Sponsor Final decision maker Give guidance and oversight for the project Approval or review certain elements in the project Project sponsor Project Manager Gives the overall direction of the project Managing the project as outlined by the project plan Cooperates with the steering committee in order to ensure that the project plan is successful The manager is provided with guidance by the steering committee Undertakes the supervision of consultants Undertakes the supervision of ventures Undertakes the overall supervision of all departments involved in the project Leads and directs the team members of the project Manages the budget of the project Tackles the problems that may arise during the project Project Manager Participants of the Project Participate in the project according to the customer requirements Understand the business process required for the project and the needs of the needs of the users or target market (children between the age of 10-15) Communicate the objectives of the project , the progress and its status of the project as it proceeds Execute and review the project deliverables Assist in the development of the product Assist in the coordination by participating through work groups ,as stakeholders and as individuals Offer knowledge and recommendations for the project Assist in recognize and eliminate any project barriers that may arise during the project Guarantee that the product quality will attain the objectives and goals Assist in risk identification and the resolution of any issues that may arise during the project The Steering Committee will identify the project participants Experts in the Subject matter of the project Lend expertise and guidance as needed The Steering Committee will identify the project participants Management Issues Information that is covered by the project plan has a probability of varying as the project continues. Palhan (2005) highlights that; change during a project is usually an inevitable aspect. In addition change can be described as required and certain. It is therefore essential to take note of the fact that any sort of change that emerges within a project will have an effect on one of the vital success factors of project which includes: the existing resources (human resource and finances) and the quality of the project. In order to effectively make any sort of changes to the project plan which entails the resources and the plan, there is need for effective coordination in terms of managing issues that arise (Harvard Business School Press, 2006). The is will be undertaken through the process below; Step 1: Once any sort of change that affects the project is identified for instance changes in terms of budgetary allocation, schedule, staffing and the project scope, the project manager is supposed to document the highlighted change Step 2: The project manager is also supposed to make a review of the existing changes and evaluate the related effect on the project. The manager is then supposed to present the issue together with the recommendations before the steering committee in order for them to review the information and also make a decision concerning the arising issues. Step 3: After receiving findings of the project manager, the steering committee should then get to a consensus concerning whether to support, modify or reject the appeal offered by the project manager. The basis of making the decision will be influenced by the information that is exists in the objectives of the project, the recommendations provided by the manager and the committee’s personal judgment. In the event that the steering committee is not able to get to a consensus concerning the endorsement or rejection of the change, the matter should then be brought before the project sponsor through a written summary of the problem in order for the ultimate resolution to be arrived at. Step 4; In case the decision has to be subjected to a decision matrix or a consensus is not arrived at, the project sponsor is required to review the problem and provide a ultimate decision on the acceptance or rejection of the change . Step 5: After approval or rejection of the change by the project sponsor or steering committee, the project manager is required to give a notification to the stakeholder who requested for the change .The notification should concern the action that was taken or adopted Communication Plan According to Stronge (2008), communication is a key factor in preventing chaos when undertaking a certain project. The distribution of knowledge and information concerning the project is basically very essential for the purpose of attaining a successful project. In most cases the participants of a project usually anticipate to have an idea of what the status of the project is, in addition they also need to know how they are affected by the progress of the project. In addition, the participants of the project also anticipate to be part of the project. As the participants continue to be educated or be informed concerning how the project is proceeding and how it will be of assistance to them in the future, the more they are likely to benefit and take part. This particular plan intends to present a framework that will be used to communicate, obtain information and involve participants during all phases of the projects life cycle. The communication Plan will serve the following stakeholders; The steering committee The project manager The project sponsor The experts involved in the development of the new product The users of the product The methodology of communication The methodology of communication will adopt three approaches in order to enhance efficient communication The top down Approach: This involves the top executives of the project supporting and guiding the projects participants. The top management of the project also needs to have a unified voice in communication and also they should ensure that each and every participant is fully involved. The bottom up Approach: This involves consulting all participants and knowing their views concerning the changes and their recommendations and solutions concerning the arising issues. Communication Events There will be a status report that will be presented on monthly basis. The report will be prepared by the project manager and handed to the steering committee. The content of the report will entail the following; The summary or outline of activities that were completed in the month before The summary or outline of activities that are supposed to be completed in the coming month A review of resolutions and status of the project Meetings There will also be a meeting held monthly by the steering committee. The meeting will be chaired by the project manager. The manger is supposed to provide the committee with the status report before the meeting in order for them to go through the report effectively. Project teams are also supposed to meet on weekly basis in order to provide a report concerning how far they have gone with the task. References Dayal, S 2008, Earned value management using projects: a guide for managing any size project effectively, J. Ross Publishing, Fort Lauderdale. Frame, J, 2003, Managing Projects in Organizations, Sage Harvard Business School Press, 2006, Managing Projects: Expert Solutions to Everyday Challenges, Harvard Press Palhan, K, 2005, Managing Projects, Sage. Stronge, B, 2008, Communication is the key to controlling project chaos ,Tech Republic Winch, GM 2010, Managing construction projects: an information processing approach second edition, Wiley-blackwell. Read More