Final Project presentation for the class: Introduction to Project Managment BUS 204

You must create a:

1.Company

2. Widget or Gadget

following the template

Atlantis University BUS204 Winter 2018 - Introduction to Project Management Project name - New Widget Development - XYX, Inc. FirstName LastName February 50,2018 Table of Contents Name of the Organization: XYZ, Inc. Organization Background: Project Title: New Widget Development Project Summary: 4 Project Time-frame: 4 Prepared by: 4 Attached Documentation: 4 Project Contacts: 4 Project Objectives 1.) Project Background. 2.) Project Goals Project Methodology 1.) The Project Approach Summary 8 2.) Work Breakdown and Task Time Estimates 8 3.) Project Deliverables 9 Project Risk Management 10 1) Risk Management Plan 10 2.) Risk Register 10 Project Costs 11 1.) Project Budget 11 2.) Budget Narrative. 11 3.) Additional Financial Statements 11 Conclusion 12 Appendix. 13 Name of the Organization: XYZ, Inc. Organization Background: Project Title: New Widget Development Project Summary: Write a 24 sentence summary of the project scope. Most project methodologies require that you first define a project's seope. Collaboration among the project owner, sponsor, and stakeholders help identify its shape and size. Changes in scope mid-project are called scope creep. Most project methodologies require that you first define a project's scope. Collaboration among the project owner, sponsor, and stakeholders help identify its shape and size. Changes in scope mid-project are called scope creep. Leam how to define the scepe and deal with scope creep in this article. Project Time-frame: Project Begin date: January 1, 2018 Project End date: September 30, 2018 Prepared by: Attached Documentation: Project Contacts: List those individuals who are involved with the project and can be contacted. Be sure to include their name, title, role in the project, as well as phone nurubers and email addresses Project Objectives The goal of this section is to present the masons for daing this project as well as stating all of the pmofects objectiver. In thas section, it a very important to write concirely and clearly. Some project professionals even singext uriting the project suminary favt. Befow you begin writing 10u showld be able to answer the following quention. - Why ane you doing this project? - What will you be doing? - How will jou be doing it? - Who will be doing i? - Whene will ar be done? - How long will it take? - How much will it cest? 1.) Project Background Explain what needspeoblems you are trying to solve, and why these needsiproblems are worth solving. You should also provide a brief setting and history behind the project. This section should be no more than a page. Include references to supporting documentation, such as research papers and articles. This information can be placed in the index af the end. 2.) Project Goals State explicitly what goals the project is aiming to achieve. Use the S.MART (Specific. Measurable, Agreed upon, Realistic, and Time) Methodology Defining SMART Goals Project manugers utilize SMART yoals so measure project phases and outcomes, and they can also be used in any project manngement methodology project, siny building a more comfortable running shoe-bere's how we would implement SMARI goals to incrense our chances of success. Keep in mind that SMART goals are typically implenented after the project scope has been defincd. - Specific - We know we want to develop a more comfortable rumning shoc, but what specifically is needed to improve on what s already on the market? Do the shoes need to be lighter, heatvier: are green or recycled materials important? These are all examples of specifically defining the wants of our running shoes. - Measure - How will we measure our running shoes-or evaluate the final product? Here you might list things such as how the shoes will be tested - not only by end users but also comparison testing, costs and prices to cover manufacturing, among others. Project tracking is a big part of the "measure" process when using SMART gaals. Not only does project tracking allow you to measure various areas of the project, managers and teams often use mind mapping toots that show how each level of the project will run, what obstacles are out there and ways to avoid and improve on those obstacles. Consider the measuring process as the largest part of your SMART goals because this stage will essentially define how the project will flowy. - Agreed Upon - External and internal stakeholders, teams and key personnel must all agree on what has been decided in the measurement phase. Often associated risks or changes may be ideatificd, and in our running shoc example, if a vendor cannot deliver what we want, for example, we may have to go back and review the measuring phase. - Realistic - Now is the time to see if the goals set for the project are doable and realistic. Will end users love our running shoes? Can we make the running shoes and continue produerion based on revenues and expenses? Do we indeed have everything we need to complete the project and have we set realistic goals we can achieve? - Time - Time or time-based goals are important to define in the SMART goal project planning process. If we want our running shoes in stores by the springsimmer shopping season, will we be able to achieve this deadline? What are some of the stopping blocks we may run into? Here, we define our timetine from start to finish based on our specific wants and needs, how we plan to measure and track our suceess, can agree unilaterally, and feel realistic about the project's outcome and success. Project Methodology This section detatls the plan for how the project objectives will be achiered. It tosially starts with a description of the overall approach. Thew it provides details on inethodology, the population theing addressed, and how anticipoive problemx will be manoged. 1.) The Project Appreach Summary Write a few shoet paragraphs of ballet points on your everall approach to the project. Include how the project team will be organized, what development and collahoration tools will be. used, and how the plan will be updated along the way: 2.) Work Breakdown and Task Time Estimates In this section, you should create a detailed progect sehedule. Make a list of tasks that will be performed for this project, make sure the list is detailed enough, and the rasks are broken down enough to expose risks and make reasonable cstimates in person-hours required. You may want to include a milestone chart in this section. One of the most important aspects of project management is a project schedule. Whether you nre mansging projects for a Fortune 500 conghomerate or running a small business, a project schedule can ensure that your projects finish successfully and on time. A project schedule is a tool used to help mannge resources and tasks, and it will help to guide a project to suecessful completion. The schedule lists the taiks to he compleled during the project as. well as identifying What resourees - personnel and materials - are necessary to complete that task. This usually comes in the form of a Statement of Work (SOW) or Scope Statement, which is a detailed description of what will be accomplished during the life of the project. 3.) Project Deliverables Make a list of projects "deliverables." (These are the products, information, reports, among others, that will be delivered to the elient at the end and throughout the project). Make sure to include a description of the deliverable and an estimated delivery date. Project Risk Management This section details the major project risks and delineates the plans to alleviate or contrel them. Make sure to address cach risk's likelihood of occurring as well as its impact on the project and the organization. 1) Risk Management Plan This plan is the detailed plan of action to minimize and contain any risk factors that may come up as the project progresses. 2.) Risk Register Be sure to include this line-item list of risks and counter efforts. Projeet Costs 1.) Project Budget A detailed, line-item budget should be divided into categories mech as salhries, fringe benefits, tnavel, supplies, and equipment. Make sure also to include any overhead costs (called "indirect costs") that will be associated with the projcet. 2.) Budget Narrative The budget narrative is a list of commentary needed to clarify and justify the flgures in your budget. 3.) Additional Financial Statements Some project proposils may require additional fitmacial statenicubs, sheh as a profit and loss statertient, a recent tax return, an annual report, or a list of fundirig sourcex Conclusion In this serione, tou should try to te we all the ahow informarion in a sumimary that ceplains the potental wahe of the progoct and mipharises is focribitite Appendix Put addinional charss. graphis, nyporw, among ochers, cured in inte proposal, but was nor appaxpertiate to ploce in the manin body of the dockinctit