Business & Finance
Assuming that the project sponsor has formally authorized your project (from group assignment 4) and funding has been approved, now it is time to start your planning phase. Project management is typically a team-based management methodology. For training purposes, however, the lab assignments will be completed individually. The objective of the lab assignments is to use MS Project to develop a performance measurement baseline (PMB). The PMB includes three baselines: the scope baseline, the schedule baseline, and the cost baseline.
Connections to the Course Learning Outcomes
Use Microsoft Project to develop a schedule, allocate resources to project activities, resolve resource allocation issues, set a baseline, and determine the cost baseline of a project.
Create project reports and evaluate project performance based on the baseline.
Instructions
1. Create a new project file in Microsoft Project and use the “Save as” function to rename the file with your last name, your first initial, and your project title. Example: AlexisJ_EletricTruckProject. (1point).
2. Use the file Properties from the “Backstage” view in Microsoft Project to enter a brief description of the project objectives in the Comments field. Remember, project objectives must be SMART. Complete the other Properties as appropriate. (Hint: Go to File>Info>Project Information>Advanced Properties>Comments). (2points)
3. From the Gantt chart view, with the Entry Table applied, enter 20 deliverables for your project in the Task Name column, including some project management deliverables. Remember, typically, a deliverable is a component part of the project and is expressed as a noun/adjective – NOT a verb (Hint: see the lecture on project planning for examples). It is acceptable to breakdown your project into phases, and then deliverables and sub-deliverables. (7points). The 20 deliverables include sub-deliverables and work packages. A work package is a small deliverable.
4. If you have not done so, breakdown the deliverables of your project into work packages and enter them as subtasks under the deliverables. Remember, it is okay to combine a phase-based with a deliverable-based approach. In fact, you are encouraged to use the phases you created for your project earlier in the course. If you need a hint, refer to the lecture on scope management. (2 points)
5. Breakdown the work packages into project activities. Note that unlike deliverables, activities are the actual actions you need to perform to complete the deliverables/work packages or phases. Activities are expressed as verb phrases. If you need a hint, review the lecture on schedule management. (6 points)
6. Use the “Indent/Outdent Task” command from the Task tab in Microsoft Project to create a hierarchy of deliverables/work packages/activities. This hierarchy will help you plan better your project. (1point)
7. Use the default WBS coding system in MS Project to code your WBS. (Hint: From the Format tab> Outline Number). (1point)
Sample Solution
Project Title: Electric Truck Project
Project Manager: Alexis J
Project Sponsor: [Sponsor Name]
Project Objectives:
- Design and develop a prototype of an electric truck
- Meet all safety and performance requirements
- Bring the electric truck to market within 24 months
- Achieve a profit margin of 10%
Full Answer Section
Project Scope:
The project scope includes the following:
- Design and engineering of the electric truck
- Development of the electric truck prototype
- Testing and validation of the electric truck prototype
- Manufacturing of the electric truck
- Marketing and sales of the electric truck
Project Schedule:
The project schedule is as follows:
- Phase 1: Design and Engineering (6 months)
- Phase 2: Development (12 months)
- Phase 3: Testing and Validation (3 months)
- Phase 4: Manufacturing (6 months)
- Phase 5: Marketing and Sales (6 months)
Project Cost:
The project cost is estimated to be $10 million. This includes the following:
- Personnel costs: $4 million
- Materials and supplies: $3 million
- Equipment: $2 million
- Travel and expenses: $1 million
Project Deliverables:
The project deliverables are as follows:
- Phase 1: Design and Engineering
- Design specifications
- Prototype design
- Phase 2: Development
- Prototype construction
- Software development
- Phase 3: Testing and Validation
- Safety testing
- Performance testing
- Phase 4: Manufacturing
- Manufacturing process development
- Production of electric trucks
- Phase 5: Marketing and Sales
- Marketing plan
- Sales plan
Project Resources:
The project resources are as follows:
- Project manager
- Engineers
- Technicians
- Marketing staff
- Sales staff
Project Risks:
The project risks are as follows:
- Technical risks: The project may encounter technical challenges that could delay the project or increase the cost.
- Regulatory risks: The project may be subject to new or changing regulations that could impact the design or production of the electric truck.
- Market risks: The project may face challenges in the market, such as competition from other electric truck manufacturers or changes in consumer demand.
Project Communication Plan:
The project communication plan is as follows:
- Weekly project status meetings
- Monthly project reports
- Regular communication with stakeholders
Project Change Management Plan:
The project change management plan is as follows:
- All project changes must be submitted in writing to the project manager.
- The project manager will review all change requests and make a decision on whether to approve or deny the change.
- If a change is approved, the project manager will update the project plan and communicate the change to all stakeholders.
Project Performance Measurement Baseline:
The project performance measurement baseline will be established using the following metrics:
- Project schedule variance
- Project cost variance
- Project quality metrics
Project Evaluation:
The project will be evaluated based on the following criteria:
- The project was completed on time and within budget.
- The project met all quality requirements.
- The project met all project objectives.
Project Closeout:
The project will be closed out using the following steps:
- Conduct a project retrospective to identify lessons learned.
- Update project documentation.
- Archive project records.