George Gomez October 31, 2016 Project Planning, Execution and Closure PM610 Individual Project 4 Professor Ronald Burke The main purpose of this memorandum is to explain the effect of decision making on the project. This memorandum also explains the factors that need to be considered when accepting or denying the vendor offers. This memorandum also includes the budget, schedule and resources. This memorandum also explain the parties that would need to be involved in the decision-making process and the factors that would need to be discussed and agreed upon the various parties involved in the project. Factors to Consider: In order to make effective decision making about accepting or rejecting the vendor proposal, the manager would consider several factors such as vendor 's background, financial position, relationship with others, technology provided in the project and market position etc. These factors would helpful for the manager to make effective decision making process as well as would also be supported manager to select right vendor for the project (Cohen & Kalbaugh, 2008). Decision Affect the Overall Project: Selecting or rejecting the project proposal can affect the project in terms of its effectiveness and value. Whether you accept or deny the vendor 's proposal will have an impact on the project speed, position of project, budget, schedule and resources etc. (Levin, 2010). The selection of vendor proposal would increase the cost of the project by $25, 000 and would
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The first project proposal is Match My Doll Clothing line expansion consisted of expanding matching doll and child’s clothing and accessories. The second project proposal is Design Your Own Doll by creating customizable “one of a kind” doll features through the company’s website. The project selection criteria would base on quantitative and qualitative analysis. The quantitative analysis would base on the evaluation of discounting cash flow forecasts to determining the Net Present Value (NPV), Internal Rate of Return (IRR), and the Payback period of each proposed project. The qualitative analysis would include the potential project value of the company’s overall strategy, innovation, key project risks, and the project interdependencies to the whole company.
This is to ensure that the necessary raw materials and physical resources are available at each stage, and that the workforce on site has the right skills for the scheduled work. The project management team will need to produce a series of planning documents that can be accessed throughout the project. Each member of the project management team must know their role and responsibilities, including which sections of the workforce they will be directly managing.
9. Conduct a detailed review of the remaining vendors, this should include all the evaluation criteria developed as part of the evaluation framework in < Request for proposal>, as well as a more detailed review of the functional fit and any other factors that have come to light since.
Project planning is time consuming, yet essential for success at project completion. A component of planning is assessing the current practice that the doctoral of nursing practice (DNP) student hopes to change through implementation of the project. Careful planning will help to identify the needs of the project while distinguishing potential issues and roadblocks with implementation. The purpose of this paper is to describe the DNP project stakeholders, assess the current environment, provide data on the project need, identify the problem, provide the strategy for improvement and provide a case study for reference.
Ghazisaeidi, Ahmadi, Sadoughi, and Safdari (2014) proposed taking into considerations the following components prior to selecting a system. Components to considers include: a thorough assessment of the organizations need, the organizations readiness for change, determining a timeframe for the implementation process, estimate of total costs, defining roles and responsibilities in the change process, researching different systems and vendors, identifying key elements that are needed in the system, and having a strategic plan and support system in place for the implementation process.
This project charter is planned to help O’Donnell & O’Donnell LLP who will lead the project management team take place the parade smoothly. This parade for welcoming home troops will be organized in Colorado Spring which has a long history of military. This project charter’s goal is making sure project management team and sponsors understand all details and tasks of this parade and getting an agreement between these two parties. Some important tasks can be directed with the project charter. For examples, raising fund, arranging thousands of soldiers and planning a lunch
In the given case, there are five projects including Whalen Court, Gopher Place, Stadium Remodel, Goldie’s Square and The Barn. All of these projects were under consideration for the purpose of implementation. Each of the projects has its own cost and benefits on the performance of Target Corporation. The process of choosing one of the projects which has high Net Present Value and Internal Rate of Return is very important for the company as capital investment has a significant impact on the short term and long term profitability of the company. As a result, the ultimate objective of the case is to carry out an analysis which might help in ranking the projects so that the company would come up with the decision for acceptance and rejection of the
Performance reviews are intended to encourage changes in behavior, encourage career development, and support continuous organizational learning. These reviews focus on social and technical contributions the individual contributed to the project team. For example, the 360-degree feedback process has been used successfully to improve the ability of people to work on teams. As long as performance reviews are not directly related to pay and promotion decisions, such reviews are more readily accepted and even perceived as positive for the individual and organization.Since pay reviews can result in negative or positive outcomes for a career, they are perceived as very serious by most individuals. Pay reviews should be more carefully structured and based on clear standards and criteria known to the person being evaluated. Every attempt should be made to avoid confrontation. 4. Advocates of retrospective methodology claim there are distinguishing characteristics that increase its value over past lessons learned methods. What are they? How does each characteristic enhance project closure and review? * Uses an independent facilitator. The facilitator is held responsible for identifying and implementing lessons learned. Independence encourages gaining more information from stakeholders. * Includes a minimum of three in-process learning gates during the life project cycle. These gates catch problems and success
Without the ability to rank the projects based off of cash flows solely, we had to use some analytical criteria as a capital budgeting analyst to provide some thorough support and reasoning for how we ranked the four best projects. In this case we are only using quantitative considerations that we deem to be relevant and no other project characteristics are deciding factors in our selection of the best four projects. When coming up with our calculations to rank
Construction projects can be extremely complex and fraught with uncertainty. Risk and uncertainty can potentially have damaging consequences for the construction projects. Therefore nowadays, the risk analysis and management continue to be a major feature of the project management of construction projects in an attempt to deal effectively with uncertainty and unexpected events and to achieve project success. Risk is inherent on construction projects and disputes frequently arise. One in four construction projects results in a dispute that leads to arbitration or litigation. With large scale, complex projects the likelihood of serious, time-consuming and expensive claims increases.
All of the 11 projects are primarily ranked based on quantitative measurements. We have to also take into consideration of other quantitative aspects like length of the project, initial investment and anticipated payback period. Moreover, this
i. Speed has become a competitive advantage; more and more organizations are relying on cross-functional project teams to get new products and services to the market as quickly as possible.