Sample PROJ6000 Principles of Project Management Report

PROJ6000 Principles of Project Management Report

Task Summary

After reading the project case study, use it to develop a 2,000-word Project Charter, describing the entire project in a short, succinct, and professional document.

Context

Project leadership is about inspiring the project team to do their best from the outset. This requires a combination of verbal and written communication skills and a range of applied leadership skills. One of the foundational documents that helps “kick off” a project is the Project Charter. The Project Charter describes the entire project in a short, succinct, and presentable document that can be shared with project staff or other stakeholders and aims to commence the project in earnest. The Project Charter helps to clarify the project context, the project team roles, and the goals of the project.

Instructions

You will be given a project case study to use in order to develop your Project Charter. Though all students will receive the same case study, it is expected that each student will think about the project from their own perspective as an up-and-coming project manager in order to formulate a unique Project Charter. Use your own style based on your critical thinking of what it means for you to lead a project. You may use one of the templates provided in the learning resources or develop your own format.

Please follow the instructions below:

1. Read the case study provided by your lecturer. This will form the basis for your Project
Charter, because you will assume that you are the project manager for this project.

2. After reading the case study, begin to develop your project charter. This needs to be a 2,000- word report (+/- 10%) and must use a minimum of six (6) references (academic literature and industry publications—please consider the case study as a 7th reference). Please ensure all references are cited in-text.

3. The Project Charter must include the following headings and should be written as if you are presenting it to the project team that will build this project. You are the project manager.

The contents of your Charter should include:

a. Background of the project
b. Reasons for the project
c. Project objectives
d. Proposed project management approach or methodology/methodologies
e. Constraints, limitations, and risks
f. Leadership structure (project manager and his or her senior aides: list their roles and explain what each does in the project. You need to cite four (4) roles)
g. Project risks and their mitigation
h. Project stakeholders and how to interact with them
i. The vision of the project and the type of project team culture you wish to promote in your team
j. Reference list

Solution

1. Introduction

A project charter is a traditional document that contains a brief overview of every element of a specific project. Project management is a proper combination of planning, organizing and managing the resources for the successful execution of the project (Collins, 2011). A sustained project requires effective development of skills and goals among the team members (Anantatmula, 2016). For Assignment Help, It is created in the initial phase of project development by the project manager. This project charter will be helpful in interpreting the aim and goals of the objective, designating the importance of specific individuals and outlining their responsibilities regarding the project, providing an assessment of the project plan, and identifying prospective risks associated with the project. The project charter is developed to outline the project management process of My Florida Regional MLS regarding the launch of ePropertyWatch. It will contain a short background analysis, established goals, management method of the project development team, analysis of potential risks and limitations, stakeholder analysis, a review of the management structure, and a short discussion regarding the vision of the project.

2. Background of the Project

A project charter is not complete without the establishment of a proper background. An appropriate background of a project helps the project charter find its relevance in the eyes of the shareholders and sponsors of the project. In this case, the project background will detail essential elements that impact the execution of the project. A proper inauguration of a product named ePropertyWatch is the main project (Studocu, 2021). The project is being managed by My Florida Regional MLS, one of the biggest global MLS service providers (Studocu, 2021). It operates from Orlando; Florida and its services encompass the entire region of the American state (Studocu, 2021). MLSs are databases that can help individuals gain important information regarding real estate properties sold by property owners. ePropertyWatch is a service that will enhance the capabilities of My Florida Regional MLS, which will help the MLS service provider to increase its potential and offer improved services to its customers. The product is being provided by CoreLogic to selected MLS providers for free (Studocu, 2021).

3. Reasons for the Project

It is essential to outline the reasons based on which a specific project is developed. A proper reason can help in influencing investors and sponsors, which can be beneficial for gaining the required resources that are needed to complete a project. It can also help motivate the team of workers and managers that are tasked with the proper execution of the project in question. An adequate reason defines the boundaries of the project, helps develop a project plan, and is heavily significant. In this case, the inauguration of ePropertyWatch is the main project. Successful execution of the inauguration process will be highly beneficial to My Florida Regional MLS. The product, developed by CoreLogic, which is an esteemed organization, can rapidly enhance the services provided by My Florida Regional MLS. It can help improve the quality of the information that is offered to My Florida Regional MLS's clients, reduce costs in operating processes by implementing the product in its operations, lower the chances of providing customers with improper or inaccurate information, update the database with real-time information, improve client contentment and help My Florida Regional MLS to retain its customers by making a significant improvement to its database.

4. Project Objectives

Objectives of a project are defined as the goals and guidelines that a project management team must abide by while executing tasks required for a project's completion. Setting optimal goals are essential. Objectives can act as a measurement factor based on which a review of the project’s success can be initiated. Proper, clear, concise, and transparent project objectives are of utmost importance as these objectives guide the execution of every step of project management and shape decision-making. Project objectives are generally created based on some critical factors that define the project's success. In this case, the launch process of ePropertyWatch by My Florida Regional MLS will comply with pre-defined project objectives provided in this project charter. The objectives are created using the SMART template of goal-setting. The dimensions of this framework are Specific, Measurable, Attainable, Relevant, and Time-Bound (Landers, Bauer, & Callan, 2017)

• Specific- The project will be completed by making use of the designated budget.

• Measurable- The project’s progress is tangible will be measured by unbiased inspectors.

• Attainable- The project is attainable as its aim is realistic. The implementation of ePrpertyWatch is similar to other projects that have been executed before by the My Florida Regional MLS’ project management team.

• Relevant- The launch of ePropertyWatch will enhance the services of My Florida Regional MLS, which is highly relevant in retaining existing clients and bringing in new customers.

• Time-Bound- The project is achievable within the allocated time limit.

5. Proposed project management methodology

A proper methodology is necessary for the satisfying execution of a project. It can help in standardizing the work process. Creating an appropriate framework for the work will be far easier with proper management of project methodology. It can also help in adequately sorting the separate tasks. Almost all competent project managers make use of a relevant project management methodology. The waterfall method, PMP method, and agile methodologies are some of the most popular project management methodologies. This method can also be integrated into traditional frameworks. The project management approach that will be beneficial for executing the launch process of ePropertyWatch is an agile project management approach. Agile project management is helpful because it provides much-needed flexibility to the project management process. This methodology stresses the importance of testing, which will help My Florida Regional MLS assess if the ePropertyWatch system is running as intended. Agile methods will also help with implementing any change in project requirements and deliverables which will help the project team satisfy the stakeholders of the project. It can also reduce risks. The project plan, as stated in the case study, follows a streamlined process that can be executed by implementing agile procedures. Agile methodology can help the project team by providing the management team with better control over the project's execution, lowering risks of missing deadlines, and providing a much-needed transparent quality to the procedures, which can help the project team increase predictability of certain elements such as budget.

6. Constraints, Limitations, and Risks

• Project Constraints: Constraints are the inter-connected elements that help in forming the project’s boundaries. There are three main constraints that the project management team needs to concern themselves with. These are the time, scope, and cost constraints. Time constraint outlines the schedule under which the project team needs to complete the whole process. Scope constraints define the constraints that impact the aim of the project, the tasks that are required in order to be executed, and other attributes of the project process. Cost constraints highlight the allocated budget under which the whole launch process needs to be completed.

• Project Limitations: Limitations are similar to constraints as it specifies specific barriers that obstruct a project to develop further. In the case of the launching of ePropertyWatch, the project team at My Florida Regional MLS will need to make sure that the project is completed within eighty-four total work hours (Studocu, 2021). The management team needs to plan accordingly and make sure that the deadline is not exceeded. The team also needs to perform the required tasks in such a way that maximizes cost-efficiency. Usage of tools and equipment that makes the spending exceed the allocated budget will not be encouraged by the project manager. The scope limitations are defined by proper communication with the stakeholders and taking note of their requirements. The project team will not take up any project tasks that do not further stakeholders' interests.

• Related Risks: Digital security risks, stakeholder conflicts, and issues relating to the procurement of equipment are the significant risks associated with the project.

7. Leadership Structure

Leadership is crucial as the qualities of the leaders impact the project's execution process heavily. The project management team will be working under a hierarchical leadership structure. A hierarchical structure will enable the project team to easily distinguish authorities and decide the priority level of leaders' orders. It will allow better control of the project team and enhanced monitoring and reviewing capabilities of the leaders. It can also help with establishing a straight communicational channel that runs through all levels of management.

• Project Sponsor: These are the stakeholders that have a personal interest in making sure that the project is being executed in such a way that satisfies the scope of the project. These individuals will be in charge of allocating financial and non-financial resources of the project team and will be the central authority of the project. The board directors and shareholders of My Florida Regional MLS are the project sponsors for this project.

• Project Director: The project team will be answering to a project director who is at the top of the leadership hierarchy. This individual will be providing the project team with overall guidance and direction regarding the scope of the project.

• Project Manager: The project manager will be responsible for managing the project team overall. The project manager will be an influential part of the decision-making and planning system of the project team. Patrick Williamson is nominated to be the project manager because of his expertise in handling projects of this scale and his academic excellence while participating in the Project Management Institute's training program (Studocu, 2021).

• Instructor: The instructor is an individual who will answer to the project manager and is responsible for managing the project workers. The instructor will make sure that the workers reflect the vision of the project and are operating in a way that satisfies the interests of the project stakeholders.

8. Project Risks and Mitigation

Risks- The launch process of ePropertyWatch is an intricate project, and several risks are associated with it. The concern regarding data breach and piracy is a significant risk that is associated with the project. Cybercrimes are rampant and malicious individuals can target My Florida Regional MLS' launch process of ePropertyWatch to malign the company and to obstruct its competitive advantage. Disagreement between various stakeholders can also be identified as a highly probable risk that stunts the progress of the project completion process. Many stakeholders are connected to the project, such as My Florida Regional MLS, its managing directors, shareholders, employees, individuals of the project team, and the customers. Conflict can come up between these stakeholders, which is a significant risk. Other than that, the scarcity of required resources and the unavailability of skilled workers are also risks that should be mitigated.

Mitigation strategy- Risk management is crucial as it lets individuals evaluate and respond to threats (Denney, 2020). The risks that are identified above can be mitigated through the adoption of particular strategies. A proper security system with password authentication features, high-quality integrated firewalls, and other safety features can safeguard the project team's digital resources and database. Designing an appropriate interaction and communication strategy can severely lower the chances of stakeholder conflicts. Adequate training programs and procuring required tools and equipment beforehand can solve the issue of scarcity. Committed teams with the required expertise are crucial.

9. Stakeholder Analysis and Interaction Strategy

Stakeholders have a crucial impact on project governance (Derakhshan, Turner,& Mancini, 2019). Many stakeholders have distinct interests tied to the successful inauguration of the ePropertyWatch launch process. Company My Florida Regional MLS, its managing directors, shareholders, employees, individuals of the project team, and the customers are the main stakeholders of the project. To make sure that the interests of the shareholders align cohesively, communication and interaction strategies will be a part of the project planning. Information regarding the project deliverables and the progress of the project will be provided to the stakeholders promptly. Notifying the customers of the upcoming feature is an integrated part of the project plan. A Question-Answer session will also be hosted on behalf of the project development team to foster interaction and communication. Timely emails containing a progress report, video conferencing, and other interaction strategies will also be a part of the project management process.

10. Project Vision and Team Culture

The project vision is to create a standardized and properly structured project plan that can be utilized by any other MLS providers if they so desire in the future. The project development process will be well-structured and include properly defined steps. The entire management and development process will be thoroughly optimized to ensure that the project runs at maximum efficiency. The project will also significantly enhance My Florida Regional MLS's services which is also a significant part of the project. Work culture has a considerable influence on employee performance (The impact of organizational culture on job performance: a study of saudi arabian public sector work culture, 2018). The team culture that will be encouraged is one of open communication and transparency. Team members will be encouraged to share ideas without hesitation. Team building and bonding activities will also be encouraged as these increase productivities.

11. Conclusion

The project charter contains several vital elements that will define the ePropertyWatch launch process taken up by My Florida Regional MLS. The project team will adopt agile methods to execute the process. Limitations, constraints, and risks that are associated with the project are also discussed here. A stakeholder analysis is included with the project that will decrease potential conflicts. This project charter will be beneficial to the project team in adequately executing the project work.

References