Project Management Body Of Knowledge Industry Standards

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Thank you for giving me the opportunity to work with your organization and engage with the team of the software development project. As agreed, I have examined the strengths and weaknesses of the project and analyzed the main factors that contribute to the current state of project. My independent assessment of the project and practices related to it is based on the Project Management Body of Knowledge industry standard and is grounded in information that I have gathered from team members. The purpose of this report is to provide you with three options and a recommendation on corrective actions to drive the project forward and towards successful completion. The enclosed appendix encompasses my detailed analysis of the project and risks…show more content…
ACME Fireworks had no internal capabilities to develop the product and manage the project. The company directors took the decision to develop the web system in-house to keep the development costs lower than what was quoted in 5 different RFP responses. A subject matter expert was externally hired as a project lead. He later decided to recruit a project manager after the planning phase was almost finished. Together, the subject matter expert and the project manager recruited an external team of developers and one business analyst. Soon enough, the project was rushed into the execution phase. The project had very strong sponsorship support and a dedicated development team. However, while still in the execution phase, the project incurred cost overruns and scope creep that disappointed the stakeholders during a key product presentation. Failure to implement a holistic project management system and an unbalanced power dynamic between the project manager and the product manager (subject matter expert) resulted in poor tracking and reporting mechanisms that contributed to the current state. Neither the CEO nor the project manager had any proper visibility on the project status. Approach To review and identify solutions for the project, I used the
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