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MBA6231 - 1.1 - project charter.docx
Project Charter
Project Charter
Student Name
Institution
Course Code
Project Title: Michael Joseph Place, The place to be
Project Start Date: 25/7/2018
Projected Finish Date: 25/12/2018
Budget Information: $ 4,500.00
Project Manager: Student name,[email protected], 210- 105 -
6676
Business Need
The project manager will be hosting an evening lounge event
that will be targeting the clientele to an upscale lounge to be
built in downtown. Through such an event the city will have a
positive exposure.
There will be need for effective marketing, music, modern décor
and most likely investors. The menu for food and drinks will
need to be within budget. The venue needs to have amiable
space and adequate seats for all guests.
The first step to this project involves coming up with a plan on
a piece of paper. Once this is done the next step will involve
selection of vendors to various goods and services. Once
everything has been put to perspective the next stage will be to
involve investors who will include local business owners. These
investors will be encouraged to do so with the exchange for
them to market and advertise their products at the event. We
will have three packages for investors including Silver, Gold
and Platinum packages.
Project Objectives
The proposal is to have a social entertainment evening lounge in
Chicago. The project managers will be showcasing the new
concept of entertainment by holding a series of events known as
“The Place to be!”
· The events will be used to showcase the atmosphere that the
new lounge will be offering
· The events will offer the professional audiences an
opportunity to network while at the same time being
entertained.
· The events will be targeting an audience of 150 attendants
· To have an environment where attendants can dance, dine and
drink socially while discussing business.
Approach
This project will be managed in accordance with the PMI
approach as modified.
Assumptions/Constraints/Dependencies
The assumption is that with the provision of an exquisite and
upscale venue that is mature in Chicago, IL, will be successful
due to the fact that there is no such a venue within a 100 mile
radius.
One of the likely constraint is finding a venue that grabs
attention of the targeted crowd.
The success of these events depends on attracting two sets of
individuals. One of them is investors and the other is private
professionals who will attend a social event at night.
Initial Risk Factors
· Obtaining a liquor license on time for the event is the major
risk factor.
· Failure of attendees despite investing money and time is
another risk.
· Failing to complete the organizational plans within 30 days
before the event series begin.
· Not attracting any viable investors
Regulatory cost/impact
One of the needed licensing is from the city council where I
will be required to get a special event license. This will enable
us to have alcohol in the premises. There will be need for
security and fire reviews from the respective departments of
city council. The parking code and regulations for the venue
will also have to be looked into seriously.
Roles and Responsibilities
RoleNameOrganization and PositionContact Information
Project sponsor
Michael Joseph
Chief Executive Office
[email protected]
210-321-4560
Project manager
Student Name
Michael Joseph Place
Operations Manager
[email protected]
210- 105 - 6676
<title>
<title>
<title>
Sign-Off
Michael Joseph
Student Name
Comments
No comments at this time
Revised to accommodate PMBOK® 4th edition
3
MBA6231 - 1.docx
Running head: PROJECT ANALYSIS, SELECTION, AND
CHARTER 1
PROJECT ANALYSIS, SELECTION, AND CHARTER 6
MBA-FP6231: Assessment 1
Student Name
Institution
Course Code
Executive Summary
In this paper the article, “An Experiential Case Study in IT
Project Management Planning: The Petroleum Engineering
Economics Evaluation Software Imperative,” which was written
by Charles Davis will be critically analyzed. The author will
then continue to develop three major concerns from the article
and at the same time offer possible solutions to the raised
concerns. The paper will also try to analyze and describe
potential risks that the project may likely encounter.
Introduction
The article by Charles Davis entitled, “An Experiential Case
Study in IT Project Management Planning: The Petroleum
Engineering Economics Evaluation Software Imperative” is
crucial to scholars of project management especially in regards
to the planning phase. The article has also addressed certain
notions within the development of a project and certain issues
that may arise in the planning process. Human resource matters
within a project are crucial and therefore a need for appropriate
experience level to be able to deal with the same;
Concerns and Possible
Solution
s
Concern 1
The first concern that faces Hopkins & Associates is the
completion of the project and their credibility in the future. The
credibility of a company solely depends on its continuance to
produce high quality products that are of use to the clients. In
case the company fails to produce a high quality product its
market share and future credibility will be hurt. This therefore
means that the company under all means has to produce a
successful PREsys computer software. All stakeholders should
be concerned with the prospects of this project since the
reputation and credibility relies on its success.
One of the solutions that the company can implement is the use
of simulations using real life verifiable data. A committee made
up of engineers and IT experts needs to verify the results of
these simulations. Once it’s ascertained that the software can
provide successful situations then there is a likelihood of its
success.
Concern 2
Another concern that Davis has illustrated is the very fact that
the institution is not staffed with employees possessing the
much needed experience in engineering. Davis (2005) writes
“Ken Summers’s mentally scrolls through his rolodex of
employees (all of whom appear to be incredibly talented) and
none seem to “fit the bill.” Except one, his star employee or his
“ace in the hole.” Gardner has the experience and needed
credibility for the project however Davis notes that his ethics
and judgement are a potential risk to the project, (Davis, 2005).
The scope of such a huge project should not be allowed to rest
on the shoulders of one man.
To deal with this concern Hopkins & Associates should employ
the services of contractors who have experience in dealing with
such projects. As is the case with many companies, the firm
should ensure that no employee is irreplaceable due to their
unique experiences. Having too much stress and pressure into a
few employees from different sections of the project could
proof to be disastrous. Errors and miscalculations are likely to
occur costing the company its reputation and huge costs.
Concern 3
The top management of the firm and its executives do not
understand the potential of this software and therefore are likely
to be misguided. The top management lack of knowledge in the
project is another concern raised by Davis. He states that the
top management of Hopkins & Associates see it as a threat if
the matter is not addressed abruptly and therefore require that
the software is quickly developed and this needs to be done as
soon as possible (Davis, 2005).
Software development is a tricky affair this is due to the fact
that it requires coming up with the code, testing it and retesting
it and the eventual editing of the same code which should be
followed with more testing and adjustments. The managers want
to quicken the process which is likely to lead to more errors and
problems which will lead to mechanical problems. With the
management not being aware of the needed time and amount of
work to be put into this project the top management is risking
the success of the software.
The senior management forecasts that this project will be highly
successful and that the only solution is for them to trust and
have faith the project managers. They should give the
developers and team managers, “a reasonable chance of
developing a first-rate system that will meet the needs identified
while standing up to the time pressures effectively” (Davis,
2005).
Risks facing the project
From the analysis of this article there are two specific and
serious risks that Davis has written about in the article. He has
described the risks as being diametrically opposed to the other
(Davis, 2005). One of the risks is the possibility that the system
will not be ready on time. Hopkins & Associates will be at risk
of losing their covetous position in the oil and gas consultation
industry. The second risk that Davis points out is the fact that
the PREsys software could be introduced into the market before
it is ready for use. Considering the oil and gas industry this
could proof fatal for Hopkins & Associates. One needs to also
consider that if this software is not introduced into the market
on time then another firm is likely to do the same before them
leading to a monetary loss on the firm.
Investing on a project that has very many unknowns is not a
wise business decision. The management of the company needs
to examine and consider all relevant risk assessments and
clearly understand the likely consequences if the project is not
completed as planned. They should then make a decision
whether the risk was worth it in the first place. It was premature
to approve this project as it was important that there be a well
laid out plan to enable the so=mooth running of the project.
References
Davis, C. K. (2005). An Experiential Case Study in IT Project
Management Planning: The Petroleum Engineering Economics
Evaluation Software Imperative. Journal of Cases on
Information Technology, 7(1), 1–21.
MBA6231 - 2.docx
Michael
Joseph
Place
Project Scope Statement
Project Scope Statement
Note: Any work not explicitly included in the Project Scope
Statement is implicitly excluded from the project.
Project Name:
1st Quarterly evening hosted by Michael Joseph
Prepared By: Student Name
Date
07/25/2018
Version History (insert rows as needed):VersionDateComments
1.0
1. Executive Summary
Michael Joseph Place will be the new and most tranquil spot in
the city for entertainment. The lounge offers a sophisticated
environment that enables patrons to be centered on the people
rather than the party. Michael Joseph Place is offering a mature,
serene environment for all professionals based in Chicago, IL
where they can enjoy the company of their peers. Clients will be
treated to an exquisite and conservative environment as they
dine and enjoy live music enabling them to focus on what
matters to them most, their profession and clients. The lounge is
focused towards ensuring you have an unforgettable social
experience.
Note: In any instance where there is a discrepancy between the
Project Charter and the Project Scope Statement, the latter is
considered authoritative.
2. Business Objectives2.1 Product Description (

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MBA6231 - 1.1 - project charter.docxProject Charter Pr.docx

  • 1. MBA6231 - 1.1 - project charter.docx Project Charter Project Charter Student Name Institution Course Code Project Title: Michael Joseph Place, The place to be Project Start Date: 25/7/2018
  • 2. Projected Finish Date: 25/12/2018 Budget Information: $ 4,500.00 Project Manager: Student name,[email protected], 210- 105 - 6676 Business Need The project manager will be hosting an evening lounge event that will be targeting the clientele to an upscale lounge to be built in downtown. Through such an event the city will have a positive exposure. There will be need for effective marketing, music, modern décor and most likely investors. The menu for food and drinks will need to be within budget. The venue needs to have amiable space and adequate seats for all guests. The first step to this project involves coming up with a plan on a piece of paper. Once this is done the next step will involve selection of vendors to various goods and services. Once everything has been put to perspective the next stage will be to involve investors who will include local business owners. These investors will be encouraged to do so with the exchange for them to market and advertise their products at the event. We will have three packages for investors including Silver, Gold and Platinum packages. Project Objectives The proposal is to have a social entertainment evening lounge in Chicago. The project managers will be showcasing the new concept of entertainment by holding a series of events known as “The Place to be!” · The events will be used to showcase the atmosphere that the new lounge will be offering
  • 3. · The events will offer the professional audiences an opportunity to network while at the same time being entertained. · The events will be targeting an audience of 150 attendants · To have an environment where attendants can dance, dine and drink socially while discussing business. Approach This project will be managed in accordance with the PMI approach as modified. Assumptions/Constraints/Dependencies The assumption is that with the provision of an exquisite and upscale venue that is mature in Chicago, IL, will be successful due to the fact that there is no such a venue within a 100 mile radius. One of the likely constraint is finding a venue that grabs attention of the targeted crowd. The success of these events depends on attracting two sets of individuals. One of them is investors and the other is private professionals who will attend a social event at night. Initial Risk Factors · Obtaining a liquor license on time for the event is the major risk factor. · Failure of attendees despite investing money and time is another risk. · Failing to complete the organizational plans within 30 days before the event series begin. · Not attracting any viable investors Regulatory cost/impact
  • 4. One of the needed licensing is from the city council where I will be required to get a special event license. This will enable us to have alcohol in the premises. There will be need for security and fire reviews from the respective departments of city council. The parking code and regulations for the venue will also have to be looked into seriously. Roles and Responsibilities RoleNameOrganization and PositionContact Information Project sponsor Michael Joseph Chief Executive Office [email protected] 210-321-4560 Project manager Student Name Michael Joseph Place Operations Manager [email protected] 210- 105 - 6676 <title> <title> <title> Sign-Off Michael Joseph
  • 5. Student Name Comments No comments at this time Revised to accommodate PMBOK® 4th edition 3 MBA6231 - 1.docx Running head: PROJECT ANALYSIS, SELECTION, AND CHARTER 1 PROJECT ANALYSIS, SELECTION, AND CHARTER 6 MBA-FP6231: Assessment 1 Student Name Institution Course Code
  • 6. Executive Summary In this paper the article, “An Experiential Case Study in IT Project Management Planning: The Petroleum Engineering Economics Evaluation Software Imperative,” which was written by Charles Davis will be critically analyzed. The author will then continue to develop three major concerns from the article and at the same time offer possible solutions to the raised concerns. The paper will also try to analyze and describe potential risks that the project may likely encounter. Introduction The article by Charles Davis entitled, “An Experiential Case Study in IT Project Management Planning: The Petroleum Engineering Economics Evaluation Software Imperative” is crucial to scholars of project management especially in regards to the planning phase. The article has also addressed certain notions within the development of a project and certain issues that may arise in the planning process. Human resource matters within a project are crucial and therefore a need for appropriate
  • 7. experience level to be able to deal with the same; Concerns and Possible Solution s Concern 1 The first concern that faces Hopkins & Associates is the completion of the project and their credibility in the future. The credibility of a company solely depends on its continuance to produce high quality products that are of use to the clients. In case the company fails to produce a high quality product its market share and future credibility will be hurt. This therefore means that the company under all means has to produce a successful PREsys computer software. All stakeholders should be concerned with the prospects of this project since the reputation and credibility relies on its success. One of the solutions that the company can implement is the use of simulations using real life verifiable data. A committee made up of engineers and IT experts needs to verify the results of these simulations. Once it’s ascertained that the software can provide successful situations then there is a likelihood of its success.
  • 8. Concern 2 Another concern that Davis has illustrated is the very fact that the institution is not staffed with employees possessing the much needed experience in engineering. Davis (2005) writes “Ken Summers’s mentally scrolls through his rolodex of employees (all of whom appear to be incredibly talented) and none seem to “fit the bill.” Except one, his star employee or his “ace in the hole.” Gardner has the experience and needed credibility for the project however Davis notes that his ethics and judgement are a potential risk to the project, (Davis, 2005). The scope of such a huge project should not be allowed to rest on the shoulders of one man. To deal with this concern Hopkins & Associates should employ the services of contractors who have experience in dealing with such projects. As is the case with many companies, the firm should ensure that no employee is irreplaceable due to their unique experiences. Having too much stress and pressure into a few employees from different sections of the project could proof to be disastrous. Errors and miscalculations are likely to occur costing the company its reputation and huge costs. Concern 3 The top management of the firm and its executives do not understand the potential of this software and therefore are likely to be misguided. The top management lack of knowledge in the
  • 9. project is another concern raised by Davis. He states that the top management of Hopkins & Associates see it as a threat if the matter is not addressed abruptly and therefore require that the software is quickly developed and this needs to be done as soon as possible (Davis, 2005). Software development is a tricky affair this is due to the fact that it requires coming up with the code, testing it and retesting it and the eventual editing of the same code which should be followed with more testing and adjustments. The managers want to quicken the process which is likely to lead to more errors and problems which will lead to mechanical problems. With the management not being aware of the needed time and amount of work to be put into this project the top management is risking the success of the software. The senior management forecasts that this project will be highly successful and that the only solution is for them to trust and have faith the project managers. They should give the developers and team managers, “a reasonable chance of developing a first-rate system that will meet the needs identified while standing up to the time pressures effectively” (Davis, 2005). Risks facing the project From the analysis of this article there are two specific and serious risks that Davis has written about in the article. He has described the risks as being diametrically opposed to the other
  • 10. (Davis, 2005). One of the risks is the possibility that the system will not be ready on time. Hopkins & Associates will be at risk of losing their covetous position in the oil and gas consultation industry. The second risk that Davis points out is the fact that the PREsys software could be introduced into the market before it is ready for use. Considering the oil and gas industry this could proof fatal for Hopkins & Associates. One needs to also consider that if this software is not introduced into the market on time then another firm is likely to do the same before them leading to a monetary loss on the firm. Investing on a project that has very many unknowns is not a wise business decision. The management of the company needs to examine and consider all relevant risk assessments and clearly understand the likely consequences if the project is not completed as planned. They should then make a decision whether the risk was worth it in the first place. It was premature to approve this project as it was important that there be a well laid out plan to enable the so=mooth running of the project. References Davis, C. K. (2005). An Experiential Case Study in IT Project Management Planning: The Petroleum Engineering Economics Evaluation Software Imperative. Journal of Cases on Information Technology, 7(1), 1–21.
  • 11. MBA6231 - 2.docx Michael Joseph Place Project Scope Statement Project Scope Statement Note: Any work not explicitly included in the Project Scope Statement is implicitly excluded from the project. Project Name: 1st Quarterly evening hosted by Michael Joseph Prepared By: Student Name Date 07/25/2018 Version History (insert rows as needed):VersionDateComments 1.0
  • 12. 1. Executive Summary Michael Joseph Place will be the new and most tranquil spot in the city for entertainment. The lounge offers a sophisticated environment that enables patrons to be centered on the people rather than the party. Michael Joseph Place is offering a mature, serene environment for all professionals based in Chicago, IL where they can enjoy the company of their peers. Clients will be treated to an exquisite and conservative environment as they dine and enjoy live music enabling them to focus on what matters to them most, their profession and clients. The lounge is focused towards ensuring you have an unforgettable social experience.
  • 13. Note: In any instance where there is a discrepancy between the Project Charter and the Project Scope Statement, the latter is considered authoritative. 2. Business Objectives2.1 Product Description (