Project Team Planning | My Assignment Tutor

+Chapter 2Starting the ProjectAssociate Professor: Anand SreekumarTerm: Spring 2021 May 21, 2015UNDERSTANDINGPROJECTMANAGEMENTA PRACTICAL GUIDE© 2018 Dave C. Barrett+ Agenda 2The Initiation Phase: Should the Project Be Started?The Initiation Phase: Launch the Project© 2018 Dave C. Barrett+ The Project Life Cycle 3Ch 3. Stakeholder PlanningCh 5. Schedule PlanningCh 6. Budget PlanningCh 4. Scope Planning Ch 7. Project Team Planning Ch 8. Quality PlanningCh 9. Risk PlanningCh 10. Communications PlanningCh 15. Project Procurement Ch 2.Starting theProject Ch 11.Executing the PlanCh 12.Managing Disruptions to the Plan: Issues andChangeCh 13.Managing the Human Resources Aspects ofthe ProjectCh 14.Reporting the Status of the ProjectCh 16.Closing theProjectInitiatingPhasePlanningPhaseExecutingPhaseClosingPhase© 2018 Dave C. Barrett+ Chapter 2: Starting the Project – Summary 4 1. Create the:Business Case 2. Create the:Project Charter“Should the projectbe started?”“Launch theproject.”© 2018 Dave C. Barrett+ The Initiation Phase:Should the Project Be Started?5◼Before a project starts, the question should beasked: “Should the project be started?”◼If yes, there are often a number of differentoptions that may be taken◼The first step is to consider these differentoptions or “paths” that may be taken andchoose which one to take© 2018 Dave C. Barrett+ The Business Case◼During projects, the consideration of the different approaches orpaths is accomplished through the creation of a Business Case◼When creating a Business Case, for each approach:6EstimatedCostsEstimatedBenefitsCOMPARE© 2018 Dave C. Barrett+ The Business Case◼Estimated costs may be:◼ tangible (e.g. higher costs)◼ or intangible (e.g. increased risk ofmissing a deadline).7◼ Estimated benefits may be:◼ tangible (e.g. increased sales)◼ or intangible (e.g. greater brand recognition).© 2018 Dave C. Barrett8Case Study Update: Creating the Business CaseDeco ProductionsTo view the video, click =>here© 2018 Dave C. Barrett+ The Business Case:Developing Options◼During the textbook case study, three options weredeveloped by the Project Manager (Sophie):A. Soft product launch (minimal promotion, relying primarily onword-of-mouth)B. Moderate product launch (Option A plus additional promotionthrough existing communication channels)C. Full product launch (Option B plus the development of apromotional video and creation of trade show materials)◼The question now is which option to choose?9Deco Productions© 2018 Dave C. Barrett+ The Business Case:Estimating the Costs◼Next, costs are estimated◼These tend to be “rough” estimates as the details of theproject are not yet known◼For the case study project, Sophie decided to consider twomeasures of the cost:◼ The budget that would be required (e.g. salary costs, cost ofmaterials, etc.)◼ The risk that the product launch would not be ready by the due daterequired by the Project Sponsor10Deco Productions© 2018 Dave C. Barrett+ The Business Case: The Cost Estimates OptionRequiredBudgetRisk ofDelayA. Soft launch$10,0001%B. Moderate launch$25,0005%C. Full launch$60,00010% 11Costs© 2018 Dave C. Barrett+ The Business Case:Estimating the Benefits◼Next, the potential benefits to be realized are estimated◼Like costs, these tend to be “rough” estimates. It is verydifficult to estimate future benefits with absolute accuracy.◼For the case study project, Sophie decided to considertwo measures of the benefits:◼ Increase in the company’s market share◼ Increase in the company’s brand recognition12Deco Productions© 2018 Dave C. Barrett+ The Business Case: The Benefit Estimates OptionRequiredBudgetRisk ofDelayIncrease inMarketShareIncrease inBrandRecog.A. Soft launch$10,0001%0%NoneB. Moderate launch$25,0005%3%ModerateC. Full launch$60,00010%6%Significant 13Costs Benefits© 2018 Dave C. Barrett+ The Business Case:And the Winner Is…◼The final step is to select the desired option◼This often involves not only the Project Manager andmembers of the project team, but also the ProjectSponsor and other key stakeholders◼For the textbook case study, the selected option was:◼ Option C – Full Product Launch◼You can view the completed Business Case in thetextbook14Deco Productions© 2018 Dave C. Barrett+ The Business Case 15 Business CaseProposed ProjectDecoCam V4 Product LaunchDate Produced:March 2, 2020BackgroundDeco Productions is updating its DecoCam product to include a new feature known as the Photo Assistant.The subject of this business case is the work involved to launch this new product.Business Need/OpportunityDecoCam is currently the leading camera-related application in the mobile market and it is important that thisleadership position is maintained. An effective launch of the new version of DecoCam will positively impact thesales of the new product, leading to increased revenues and market share of this product.An important objective of this project is that it must be ready to launch once the development of the new productis complete.OptionsThe following are the high-level options:A. Soft product launch• Product information would be updated on the company website and printed materials, but otherwise noadditional promotional activities would take place.B. Moderate product launch• This would include Option A along with promotional activities using the company’s existingcommunication channels.C. Full product launch• This would include Option B along with a promotional video and the creation of trade show materials. © 2018 Dave C. Barrett+ The Business Case (continued) 16 Cost-Benefit AnalysisOption A—Soft product launchCosts• Budget: $10,000• Possibility of delaying the product launch date: 1%Benefits• Market share: estimated that DecoCam will maintain its current market shareOption B—Moderate product launchCosts• Budget: $25,000• Possibility of delaying the product launch date: 5%Benefits• Market share: estimated that DecoCam will increase its current market share by 3% within one year of the product launch• Brand recognition: moderate increase in the recognition of Deco Productions as a provider of high-quality photography and video-relatedproductsOption C—Full product launchCosts• Budget: $60,000• Possibility of delaying the product launch date: 10%Benefits:• Market share: estimated that DecoCam will increase its current market share by 6% within one year of the product launch• Brand recognition: significant increase in the recognition of Deco Productions as a provider of high-quality photography and video-relatedproducts © 2018 Dave C. Barrett+ The Business Case (continued) 17 RecommendationGiven the potential for increased market share and brand recognition, Option C (full product launch) is recommended. © 2018 Dave C. Barrett+ Launch the Project◼Many companies, particularly large ones, oftenhave many projects occurring at the same time18◼Many stakeholders in thecompany may not be awarethat the project exists© 2018 Dave C. Barrett+ Launch the Project:The Project Charter◼Something is needed to announce the project exists and authorize theProject Manager to proceed with the project◼The solution: the Project Charter◼This document contains information such as the:◼ Project’s Goals and Objectives◼ Project Budget◼ Project Sponsor and Project Manager◼ Key Project Stakeholders◼ Overall Project Milestones◼ Overall Project Risks19© 2018 Dave C. Barrett20Case Study Update: Creating the Project CharterDeco ProductionsTo view the video, click =>here© 2018 Dave C. Barrett+ Launch the Project:The Project Charter21 Project CharterProject NameDCV4Launch–DecoCam V4 Product LaunchDate ProducedMarch 25, 2020Project GoalsThe goals of the project are to successfully launch DecoCam V4 by the target date,within the project budget, and to support the company’s goal of a 5% increase inDecoCam’s market share.Project ObjectivesThe objectives of the project are to:* Update the product information on the company website and printed materials.* Promote the new product through existing communication channels.* Create a promotional video.* Create trade show materials.Project Budget$60,000Project SponsorArun Singh, Vice-President, Mobile Products DistributionProject ManagerSophie Featherstone, Senior Project Manager © 2018 Dave C. Barrett+ Launch the Project:The Project Charter22 Additional Key StakeholdersCasey Serrador, CEO, Deco ProductionsJackson Woodhouse, Vice-President, Customer SupportBrittany Bianchi, Vice-President, Product DevelopmentOverall Project MilestonesDateProject StartsMarch 23, 2020Project ApprovalMarch 25, 2020Trade Show Materials CompleteMay 8, 2020Project CompleteMay 13, 2020Overall Project RisksErrors are present in the product launch materials.Delays during the project cause the product launch to be late. © 2018 Dave C. Barrett+ Launch the Project:The Project Kickoff Meeting◼Particularly for larger projects, a gathering of the key stakeholdersto officially launch or “kickoff” the project is advisable◼This allows the key stakeholders to interact and questions orconcerns to be raised before the project proceeds into the PlanningPhase23© 2018 Dave C. Barrett+ References◼ “Agenda” Slide◼ Image: “3D Scales of Justice” by Chris Potter is licensed under CC by 2.0◼ Image: “CRS-3” by SpaceX is licensed under CC0 1.0◼ “Should the Project Be Started?” Slide◼ Image: “Two Paths” by Eden, Janine and Jim is licensed under CC by 2.0◼ “The Business Case” Slides◼ Image: “cash” by djs123 is licensed under CC0 1.0◼ Image: “primary schedule” by dannya is licensed under CC0 1.0◼ Image: “Profit High Five Graph” by simpletutorials.net is licensed under CC0 1.0◼ Image: “Free Apple Desktop” by Cave Canem is licensed under CC BY-SA 2.0◼ “Case Study Update” Slide◼ Image: “City Art Deco” by tiothy is licensed under CC0 1.024© 2018 Dave C. Barrett+ References◼ “Launch the Project” Slides◼ Image: “traffic-jam-cVitan_2017_0703_190844(1)” by Root FileSystem is licensed under CC BY-SA 2.0◼ “Questions” Slide◼ Image: “Prismatic 3D Question Mark” by GDJ is licensed under CC0 1.025© 2018 Dave C. Barrett

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