Question
Susans Consulting Company (SCC) has been in business for ten years and has experienced a significant turnover in the project management group, which has prompted
Susans Consulting Company (SCC) has been in business for ten years and has experienced a significant turnover in the project management group, which has prompted senior leadership to investigate.
A preliminary review by senior leadership has determined that Project Managers arefrustrated with the amount of required project management documentation, which has impacted their ability to manage projects successfully.
A recent review of the project management process has determined that SCC has spent between30-40% of its total project budget on projects' overhead costsincluding project management costs. A review of industry standards is between 5-15% higher than most companies. In addition, senior leaders found that projects are being delivered between25% and 50% over budget and late 95% of the time.
Note:Project Management overhead includes the PM's time managing the project, attending meetings, and developing the required documentation.
Request:SCC has reached out to your team because you are experts in defining project management processes and delivering projects on time. The SCC request includes the following:
- The development of anew project management processwhich at a minimum should include the following:
- The ability to track issues, risks, and changes
- The ability to view project activities includes the ability to view what has been completed and what activities the team is currently working on and what will be done over the next reporting period
- The ability to view the project costs to include what has been spent to date, baseline budget, any changes to the budget, remaining budget, and cost of the project at completion
- In addition, to building a new project management process, SCC would like you and your team to manage a project using the new process.
Prior to bringing your team on board, company management determined estimates for initial development costs, benefits, and the projected time to complete each application.
Assignment:
Step 1:Identify a project manager - this individual is responsible for the team assignment ensuring that team members are completing their assigned work and will be responsible for turning in the assignment.
General Note: Your instructor will act as the sponsor both for the project and for the methodology build-out. Any questions should be directed to me.
Step 2: Build a Methodology
- Identify and describe the methodology to be used by the company. This should include both a narrative and a pictorial representation of the methodology.
- Identify and describe at least 5 deliverables for your process.
- Identify and describe the proposed review and update process for your methodology.
- Identify one or more prioritization techniques that will be used to prioritize work - examples can be PV, IRR, NPV, Pay Back Period, and/or dot voting
- Identify at least 3-5 risks a company should think about when identifying a new methodology.
- Description of the risk
- Mitigation Strategy
- Identify the Organization Structure for the organization that will support the project: create a pictorial and narrative description of the organizational structure for the project.
Step 3:The Project
Using your new methodology, SCC would like you to complete the following project:
Scope:The scope of the project consists of 9 applications
Below is key information necessary to complete your project
If you choose to leverage IRR, NPV, PBP, or PV you will use the information below:
Initial Development Cost (YR 0) | Year 1 Income | Year 2 Income | Year 3 Income | Year 4 Income | Year 5 Income | |
Application 1 | $ 100,000.00 | $ 25,000.00 | $ 28,750.00 | $ 34,500.00 | $ 36,225.00 | $ 36,587.25 |
Application 2 | $ 125,000.00 | $ 30,000.00 | $ 36,000.00 | $ 39,600.00 | $ 40,392.00 | $ 41,199.84 |
Application 3 | $ 150,000.00 | $ 15,000.00 | $ 18,300.00 | $ 19,215.00 | $ 20,752.20 | $ 21,789.81 |
Application 4 | $ 75,000.00 | $ 15,000.00 | $ 19,500.00 | $ 20,865.00 | $ 22,116.90 | $ 23,222.75 |
Application 5 | $ 135,000.00 | $ 50,000.00 | $ 55,000.00 | $ 56,100.00 | $ 61,710.00 | $ 65,412.60 |
Application 6 | $ 210,000.00 | $ 62,000.00 | $ 71,300.00 | $ 72,013.00 | $ 72,733.13 | $ 75,642.46 |
Application 7 | $ 175,000.00 | $ 85,000.00 | $ 106,250.00 | $ 111,562.50 | $ 117,140.63 | $ 119,483.44 |
Application 8 | $ 175,000.00 | $ 60,000.00 | $ 73,200.00 | $ 74,664.00 | $ 80,637.12 | $ 83,056.23 |
Application 9 | $ 130,000.00 | $ 75,000.00 | $ 99,000.00 | $ 101,970.00 | $ 108,088.20 | $ 110,249.96 |
Given the critical nature of the project, the company has developed a high-level budget and potential income for each application.
- Year 0 is the projected cost the company has estimated for the build of the component. This includes a 15% overhead cost for project management work
- Year 1-Year 5 is the amount of revenue the company has estimated for the product
- TheAcceptable Rate of Returnfor all projects with the company is 10%
If you choose to use Dot Matrix Voting or Monopoly Money, you will use the following information
Total Dots | Monopoly Money | |
Application 1 | 29 | $ 4,487.00 |
Application 2 | 19 | $ 5,797.00 |
Application 3 | 23 | $ 3,280.00 |
Application 4 | 21 | $ 3,942.00 |
Application 5 | 18 | $ 4,792.00 |
Application 6 | 29 | $ 4,659.00 |
Application 7 | 12 | $ 4,579.00 |
Application 8 | 17 | $ 2,071.00 |
Application 9 | 9 | $ 3,177.00 |
Team Available -The company has identified the following individuals who will be available to support the application development. Each individual can work on a single application.
Application Developer 1 | $70.00 per hour |
Application Developer 2 | $65.00 per hour |
Application Developer 3 | $50.00 per hour |
Application Developer 4 | $65.00 per hour |
1 Contractor (Application Developer) | $130.00 per hour |
Step 4: Manage a project
- Describe the process that your team will use to elicit and decompose the requirements for the project
- Develop a Project Overview Statement document for the project
- Generate WBS for the project. Remember your WBS is a deliverable base, so there should be a section of your WBS that outlines our project management deliverables
- Determine an updated budget
- Using the following information develop a Gantt chart
Information in Months | |||
Optimistic Estimate | Pessimistic Estimate | Most Likely Estimate | |
Application 1 | 11 | 13 | 12 |
Application 2 | 9 | 11 | 10 |
Application 3 | 12 | 14 | 13 |
Application 4 | 8 | 10 | 9 |
Application 5 | 13 | 16 | 14 |
Application 6 | 9 | 11 | 10 |
Application 7 | 8 | 10 | 9 |
Application 8 | 16 | 19 | 18 |
Application 9 | 15 | 18 | 17 |
- Describe 2 strategies you can use to bring the project timeline to 12 months.
- Develop a team agreement
- Using your defined prioritization process, prioritize each application.
- Identify at least five stakeholders for your project and a communication strategy for each individual.
- Identify at least five risks to include both threats and opportunities associated with the project. For each risk, please include the following information:
- Impact
- Probability
- Description of the risk
- Mitigation Strategy
- Describe the process your team can use to determine if the projects are making the appropriate revenue.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started