Topic 2: We will be developing a real project for this course. You will need to
ID: 2698358 • Letter: T
Question
Topic 2: We will be developing a real project for this course. You will need to define a project that is critical to your current business (or former business).You will need to outline the following in this discussion thread:
• What the project is and why is it important to the success of the business?
• What is the level of support for this project at the upper levels of leadership?
• Will the project require financial support to get it completed, if yes does it have the right level of management on board to support the cost outlay?
• Does this project fit the strategic plan for the business, if yes what part of the strategic plan, if no why do you see a need to do this project? Explain.
Explanation / Answer
ans1- the project is about setting up of a Integrated circuit producing firm within our country and as the electronic market is expanding exponentially it is critical.
ans2-the project like these are always welcomed at the local autorities,such as creating a proper plant setup from employment point of view, therefore the upper level of leadership is required.
ans3-yes the project is requires a good amount of capital investment as setting up of new plants wont b easy task to complete.
ans4-yes the project follows a stratgisc plan...these are as follows
After the project has been defined and the project team has been appointed, you are ready to enter the second phase in the project management life cycle: the detailed project planning phase.
Project planning is the heart of the project life cycle, and tells everyone involved where you’re going and how you’re going to get there. The planning phase is where the project plans are documented, the project deliverables and requirements defined, and the project schedule created. It involves creating a set of plans to help guide your team through the execution and closure phases of the project. The plans created during this phase will help you to manage time, cost, quality, change, risk and related issues. It will also help you manage staff and external suppliers, to ensure that you deliver the project on time and within schedule.
The project planning phase is often the most challenging phase for a project manager, as you need to make an educated guess of the staff, resources and equipment needed to complete your project. You may also need to plan your communications and procurement activities, as well as contract any 3rd party suppliers.
The purpose of the project planning phase is:
Establish business requirements. Establish cost, schedule, list of deliverables and delivery dates. Establish resource plan. Get management approval and proceed to the next phase.
The basic processes of the project planning are:
Scope planning specifies the in-scope requirements for the project and facilitates creating the work breakdown structure. Preparing the work breakdown structure specifies the breakdown of the project into tasks and sub tasks. Project schedule development specifies the entire schedule of the activities detailing their sequence of execution. Resource planning specifies who will do what work at which time of the project and if any special skills are needed to accomplish the project tasks. Budget planning specifies the budgeted cost to be incurred in the completion of the project. Procurement planning focuses on dealing with vendors outside of your company Risk management planning charts the risks, contingency plan and mitigation strategies. Quality planning for quality assurance to be applied to the project. Communication planning on the communication strategy with all project stakeholders.