TT ORRENS UNIVERSITY PROJ6002 - Project Planning and Budgeting AUSTRALIA Trimester 1/2023 FTI - Blue Bank Project The Blue Bank is a key player in Australia financial market. With consideration of continuous raise of cash rate, the Blue Bank plans to improve its risk management practice in loan approval and repayment control. FTI Consultancy upholds its exceptional world- wide reputation in providing financial consultation services and advice to commercial banks. Therefore, when the Blue Bank approaches FTI to seek its services, FTI's Business Development Executive (John East) suggested a four-month end to end project to assist the Blue Bank to reform its risk management system, processes and practices. The objectives for the project include: (1) to research and customise a risk management framework for the Blue Bank; (2) to on-site deliver the newly designed risk management framework and ensure the implementation in the Blue Bank; (3) to evaluate the new framework and ready for whole organisation rollout. The project contains five phases and multiple hurdles to be crossed. A drafted action list is presented in Table 1. Potential budgetary allocation is suggested in Table 2. FTI has a sufficient talent pool, and many capable staff could be assigned to this project. The available staffing mix is shown in Table 3. Your tasks: This case study provides you with an opportunity of drawing on your acquired project planning, scheduling, budgeting and quality management skills and materials covered in this course. You are responsible for addressing All tasks and requirements listed in Section 1 and Section 2, in addition to Assessment briefs, according to the case study. Section 1 refers to Assessment 2 (Pair assessment) Section 2 refers to Assessment 4 (Individual assessment) This study source was downloaded by 100000863867955 from Course Hero.com oil 03-30-2023 22:34:33 GMT -05:00 https://www.coursehero.com/file/197403956/T1-2023-FTI-Blue-Case-Study1-1pdf/ll RWEQSSITY PRO]6002 Project Planning and Budgeting AUSTRALIA Trimester 1/2023 Section 1 1-1) Scoge management planning 0 Describe the entire scope of thework including project background, a list of specific project goals, milestones deliverables, acceptance criteria, constraints and assumptions. 0 Create a Work Breakdown Structure (at least three levels fortasks are over 12 working days) for the project that aligns with the project activities. Further research is required. 1-2) Qualig management glannr'ng 0 Develop the quality management planning components of your Quality Management Plan. a Select at least Three work ID from difference phases to develop Quality Assurance activities accordingly. 0 Apply quality management tools to ensure the project performance is consistent with the quality management plan. Justify your selection. Section 2 2-1) Project Scheduling 0 Construct an original Gantt chart forthe project using project activities given in Table 1. 0 Conduct a critical path analysis and carefully apply the 3-point estimate technique on identied critical activities to develop an estimated project schedule. It is assumed that all critical activities will accelerate 10% if Project team performs the best efficiency. On the other hand, without an appropriate collaboration or control, the entire durations from Phase 3 will creep by 20%. 2-2) Cost management gtannr'ng 0 Develop and aggregate the cost of resources needed to complete each activity, and determine the detailed budget of the project. Your cost estimation must incorporate relevant resources given in Table 3 for each phase of the given activities. Develop and justify the resource allocation and cost management planning components in your Cost Management Plan. 0 Present your final budget to the client: the Blue Bank, and ensure 30% of the profit (before tax) as minimum for FTl. Assume Blue Bank will agree to pay maximum $250K for the project. Both detailed cost estimation and a baseline must be produced in alignment with the project schedule. 0 Assume it is now the 20th day into Phase 4: On-site delivery, perform an Eamed Value Analysis (EVA) to demonstrate the project progress. (Bonus item) This study source was downloaded by 100000863 867955 from Com'seHei'o.eom 0203302023 223433 GMT -05 '00 liftps'W-rnnt'.courseliero.eomffilef19740395(SIT1-2023-F'I'I-B'lue-Case-Study1-lpdfi' TT ORRENS UNIVERSITY PROJ6002 - Project Planning and Budgeting AUSTRALIA Trimester 1/2023 Table 1 - The Project Activities ID Description Duration (Day) Predecessor Phase 1: Client Diagnosis 1. Blue Bank approaches FTI Business Development NA Executives for potential services 1.2 FTI consultant internal briefing 2 1.1 (SS+1) 1.3 Client meeting for problem/risk identification 12 1.2 1.4 Agreement and contract with cooling off period of 5 days 5 1.3 +5 Phase 2: Structure a FTI Project Team 2. BDE appoints Project manager 2 1.4 (SS) 2.2 Project manager forms a team 8 2.1 2.3 Project team skills mapping 5 2.2 +1 2.4 Conduct Project team and Consultant workshops 15 2.3 2.5 Assign and agree responsibilities 3 2.4 (FF+2) Phase 3: Production plan 3.1 Explore Blue Bank issues 12 1.3 (SS+8) 3.2 Examine FTI's existing risk framework 5 3.1 3.3 Research current risk management practice in industry 15 and similar consultancy projects 3.2 (SS+2) 3.4 Customise a risk framework for the Blue Bank 6 3.3 3.5 Modify existing frameworks to fit in the new one 2.5 FF, 3.4 3.6 Check APRA compliance 3.5 (FF) 3.7 Finalise the product 3 3.6 +3 Phase 4: On-site (Blue Bank) delivery 4. Demonstrate the FTI-Blue Bank risk framework 3 3.7+3 4.2 Explain implementation roadmap 2 4.1 4.3 Key risk management personnel nomination 5 4.2 4.4 Conduct Responsibilities workshops 15 4.3 (SS) 4.5 FTI and Blue Bank system integration and adaption 20 4.4 4.6 De-bug (Discrete work) 5 1.5 (FF) 4.7 Launch and manage a Pilot work 5 4.6 4.8 Project de-brief for Blue Bank senior management 2 4.7 (FF) Phase 5: Evaluation and Closure 5.1 Evaluation platform set-up 5 4.6 5.2 Feedback data collection FTI 10 5.1 5.3 Feedback data collection Blue Bank 10 5.2 (SS) 5.4 Problems solving and/or disputes 5 5.2 5.5 Closure and Sign-off 1 5.4 This study source was downloaded by 100000863867955 from CourseHero.com of 03-30-2023 22:34:33 GMT -05:00 https://www.coursehero.com/file/197403956/T1-2023-FTI-Blue-Case-Study1-1pdf/TORRENS UNIVERSITY AUSTRALIA PROJ6002 - Project Planning and Budgeting Trimester 1/2023 Table 2: Budget Allocation Suggestion Project phases Budget percentage Phase 1 10 Phase 2 15 Phase 3 30 Phase 4 35 Phase 5 10 Table 3: Staffing Mix in FTI Position / Rate / Name Nathan B Elva S Mark F Yuki Y Muchi A Amed H Howard O Lin W Salina C Full time / Part time FT FT FT PT PT PT FT FT FT Hourly rate Paid (AUD$) 90 75 65 55 45 45 45 35 35 Hourly rate Charged (AUD$) 120 100 100 80 70 70 70 60 60 Senior Project Manager X Project Manager X Risk Consultant X Compliance officer X Graphic designer X System / Process merger X Senior Project Officer X Project all-rounder X X X X X End 4 This study source was downloaded by 100000863867955 from CourseHero.com on 03-30-2023 22:34:33 GMT -05:00