Assignment Prompt & Instructions
[>Management homework help](https://www.sweetstudy.com/fields/business-finance-management)
### [**Individual Assignment: Part 2**](https://ucumberlands.blackboard.com/webapps/assignment/uploadAssignment?content_id=_7579574_1&course_id=_172381_1&group_id=&mode=view)
This is the second of the three-part project. Using the process that you developed in **Part 1.** Imagine you're leading a strategic initiative for a rapidly growing company that has identified nine critical projects essential for its success over the next year. As the project manager, you're tasked with overseeing these interconnected projects, all of which must be completed within a year, with a strict budget of $1,200,000.The company’s leadership is counting on you to deliver results that not only meet expectations but also adhere to stringent success criteria: completing the project within 10% of the budget and ensuring everything is finalized no later than 395 days from the start date. While you’ve been provided with a set of predefined resources, you have the flexibility to obtain additional resources if needed, as outlined in the provided table.Your challenge is to manage these projects efficiently, navigating any obstacles that arise, and ensuring the company can assess how well employees adapt to and benefit from the initiative. Below, you'll find the essential information and tools to guide you through this critical assignment. **Project Scope:** The project's scope consists of completing all nine projects within one year. You have been given a total budget of $1,200,000.00. Resources have already been defined; however, if needed, you can obtain additional resources – see the table below. **Success Criteria:** The project must be delivered within 10% of the approved budget and no later than 395 days from the project's start date. Below are key pieces of information that you can use to manage the project:
– Given the critical nature of the project, the company has developed a high-level budget and potential income for each application.
– Year 0 is the projected cost the company has estimated for the building of the component. This includes a 15% overhead cost for project management work
– Year 1-Year 5 is the revenue the company has estimated for the product.
– The Acceptable Rate of Return for all projects with the company is 10%
**If you choose to leverage IRR, NPV, PBP, or PV, you will use the information below:** Year 0 Year 1Year 2Year 3Year 4Year 5Application 1 $ (120,000.00) $ 20,000.00 $ 22,000.00 $ 24,200.00 $ 26,620.00 $ 29,282.00Application 2 $ (99,000.00) $ 12,000.00 $ 13,200.00 $ 14,520.00 $ 15,972.00 $ 17,569.20Application 3 $ (230,000.00) $ 52,000.00 $ 57,200.00 $ 62,920.00 $ 69,212.00 $ 76,133.20Application 4 $ (75,000.00) $ 9,000.00 $ 9,900.00 $ 10,890.00 $ 11,979.00 $ 13,176.90Application 5 $ (90,000.00) $ 15,900.00 $ 17,490.00 $ 19,239.00 $ 21,162.90 $ 23,279.19Application 6 $ (125,000.00) $ 18,000.00 $ 19,800.00 $ 21,780.00 $ 23,958.00 $ 26,353.80Application 7 $ (120,000.00) $ 20,000.00 $ 22,000.00 $ 24,200.00 $ 26,620.00 $ 29,282.00Application 8 $ (165,000.00) $ 40,000.00 $ 44,000.00 $ 48,400.00 $ 53,240.00 $ 58,564.00Application 9 $ (157,000.00) $ 18,000.00 $ 19,800.00 $ 21,780.00 $ 23,958.00 $ 26,353.80 **If you choose to use Dot Voting of Monopoly Money, please use the information below:** **Dot VotesMonopoly Money** Application 110 $ 3,500.00Application 212 $ 7,500.00Application 39 $ 1,600.00Application 412 $ 3,800.00Application 55 $ 8,500.00Application 616 $ 8,000.00Application 725 $ 8,700.00Application 821 $ 1,200.00Application 918 $ 900.00
Team Available – The company has identified the following individuals who are available to support the application development. Each individual can work on a single application. Application Developer 1$75.00 per hourApplication Developer 2$60.00 per hourApplication Developer 3$55.00 per hourApplication Developer 4$60.00 per hour1 Contractor (Application Developer)$135.00 per hour **Project Assignment**
1. Describe the methodology that you will use to manage this project.
2. Describe what will be accomplished in each phase of the project.
3. Describe the process you and your team will use to elicit Develop a Project Overview Statement document for the project
4. Create a WBS for the project – Remember, your WBS is a deliverable base, so there should be a section of your WBS that outlines our project management deliverables. This should align with your structured approach in item 2
The team has determined the following estimates to complete the nine assignments: Optimistic PessimisticMost LikelyApplication 1465Application 2687Application 3354Application 4243Application 5465Application 6687Application 7576Application 8243Application 9465
1. Establish a Gantt chart using the data above.
2. Describe two strategies to bring the project into 12 months.
1. You have been given four additional resources to help.
1. Resource A can work on Applications 1, 3, and 5
2. Resource B can work on Applications 2, 4, and 6
3. Resource C can work on Applications 7 and 8
4. Resource D can work on Application 9
2. If you employ your resources, the following changes will be made to your estimates and your costs.
Optimistic PessimisticMost LikelyApplication 1132Application 2243Application 3243Application 4021Application 5465Application 6243Application 7243Application 8021Application 9243
1. Resource A will have the following cost impact: $75000.00
2. Resource B will have the following cost impact: $55000.00
3. Resource C will have the following cost impact: $35000.00
4. Resource D will have the following cost impact: $30000.00
5. Describe the process you will use to incorporate your team members into the project.
6. Develop a team agreement
7. Prioritize the work using your chosen method.
8. Identify at least five stakeholders for your project and a communication strategy for everyone.
9. Identify at least five risks, including threats and opportunities associated with the project. For each risk, please include the following information:
– Impact
– Probability
– Description of the risk
– Mitigation Strategy
**Assignment Requirements:** No narrative paper is required for this project, only a PowerPoint presentation. The PowerPoint slide should be submitted and should include the following:Part 2
1. WBS for the project
2. Describe the Project Prioritization process and show the prioritized list of projects.
3. Develop an initial Gantt Chart
4. Develop a second Gantt Chart once you bring in the project to 12 months
5. Develop an initial budget and an updated budget once you bring the project into 12 months
– 2 years ago