Project Management Kowshick Ahmed B0039MHEMHE0615 Contents Part 1 Initiation 3 Critical evaluation of the advantages and disadvantages of outsourcing of software development 3 Accurate time and cost estimation for evaluating the applicability and suitability of different type of estimation methods. 4 Part 2 Planning 4 Preparation of a stakeholder analysis for this project 4 Developing a work breakdown structure (WBS) for the project in addition to the functional requirements listed in the scenario above 5 Part 3 Execution 6 How can the above unfortunate situation with Bill be solved? Write a short report with several alternatives and suggestions to meet up with John. 6 Part 4 Controlling 6 You have been asked to chair these meetings and send a memo to all employees emphasizing their commitment and the strategic importance of this project to making it a success. Draft a short memo to this effect. 6 After the first bi-monthly meeting and consultations with business experts, you have convinced John that the only way to finish project successfully is to compromise scope by having only absolute essential functionality. Critically evaluate what functionality and/or features can be compromised. 7 Part 5 Closing 8 Prepare a lessons-learned report for the entire project. Include input from all stakeholders in summarizing the lessons learned. 8 References 8 Part 1 Initiation Critical evaluation of the advantages and disadvantages of outsourcing of software development The business organization Toys4U is a manufacturer of toys which has managed to expand business largely by increasing the number of employees as well as ensuring a huge amount of turnover in business. The company has also made plans of opening few additional branches of their company. The main factor which has enabled to make the organization successful in the business environment is the effective work culture. Due to a health work culture; the employees have been working as team and in coordination in order to perform in a much more efficient manner (Baker et al, 2008). With the advancement in technology and communication in the present days, the founder of the company Toys4U has managed to implement information technology systems in order to manage innovation as well as increase the levels of productivity, thus making more sales and profitability in business. The system which is being used by the company presently, has improved the amount of sales, though it is managed offline, which is a major disadvantage. The founder of the company has decided to enable electronic commerce and want to carry out business online, so that the amount of sales can be increased and the shareholders can make investments on the company as well. The computerized information technology infrastructure has also been improved with the help of outsourcing of information and software development including the SasS (Software as Service) and HasS (Hardware as Service), which are part of the process of cloud computing (Burke, 2013). The outsourcing of software development is a major aspect of the informational technology concept. The outsourcing of information technology includes various operations centered on the data, desktop and helps desk support. It also includes development of software which can be used by the company Toys4U to carry out electronic commerce as well as use the software application services and network operations with ease and efficiency. Outsourcing of software development in IT helps in allowing management to focus on the various issues and problems within the organization (Cicmil et al, 2006). The use of outsourced information technology can also help to enhance the technological capabilities as well as develop software to ensure cost effective means of business expansion. Though, there are several advantages, then also few drawbacks are also present during the outsourcing of software development. Another disadvantage is that controlling various areas of the organization is lost, due to which the implementation of project might bear unfavorable results. Outsourcing IT often reduces the effectiveness of direct communication between the customers and the company, as a result of which the relationships are not build properly, and the clients remain unsatisfied in certain cases. So, these are the advantages and disadvantages which can arise during outsourcing of software development (Fitzsimmons & Fitzsimmons, 2013). Accurate time and cost estimation for evaluating the applicability and suitability of different type of estimation methods. During the management of a project, it is very much important to consider the time and cost estimation. The cost incurred while managing the project is essential. It is important to make an analysis about whether the cost which has been used can bring positive outcomes or not and whether the project would be feasible enough to develop or not based on the cost. Estimation of accurate time is an essential element of a good project management. The time estimation can help in knowing the deadlines for the delivery of products or services and the planning of projects. This will make the working staffs of Toys4U to perform efficiently in order to complete the project within the allocated time frame. The estimation of time is also necessary for determining the prices which are needed to be set and also the amount of profitability which can be gained during the time period (Kerzner, 2013). Proper time allocation, time estimation and cost estimation are important aspects which are needed to be considered for managing a project properly. Part 2 Planning Preparation of a stakeholder analysis for this project The analysis of the various stakeholders who are part of the Toys4U has been prepared. The various steps which are required for enabling stakeholder analysis are: Planning â This step enables to carry out a stakeholder analysis as well as define the purpose of the analysis, determine the users and then prepare an idea or plan by using that information. Selection of appropriate policy â Before starting the process of project management, it is vital to ensure that the policy which has been selected is related to the stakeholderâs analysis of this ongoing project (Larson & Gray, 2011). Identification of key stakeholders â The stakeholders must be identified and their preferences and needs are also needed to be understood. The key stakeholders are the employees working within the organization, suppliers, shareholders, clients, etc. Collecting data and information: Relevant data and information is needed to be collected related to the various stakeholders. The information can also be gathered from secondary sources like the newspapers, articles, journals, etc (Meredith & Mantel, 2011). Interviewing the priority stakeholders- Interviewing the stakeholders means understanding their needs and preferences and interest and how those can affect the project management process. Analysis of the stakeholder table â the stakeholder table which has been filled must be analyzed. The data and information that are present in the table are analyzed for comparing the information and derive appropriate conclusions based on those findings. Information utilization â At the last stage, the information is utilized which has been gathered from the stakeholder analysis and then necessary plans are prepared in order to increase support for the project as well as increase the effectiveness of the project management (Schwalbe, 2015). Developing a work breakdown structure (WBS) for the project in addition to the functional requirements listed in the scenario above In the project management, a work breakdown structure or WBS is known as the decomposition of the project into smaller components so that those can be carried out without complexities within a very less amount of time. The WBS is a major deliverable of the project management, as it helps in organizing the work and performance of the team into a number of sections which have been decomposed into smaller units. Often it has been seen that a large project requires enhanced workforce and it can also result in various issues and problems. So, the Toys4U has managed to implement the WBS in order to break down the project into smaller parts, so that it can be completed quite easily and the objectives of the project are also achieved within no time (Turner, 2014). The WBS also provides a detailed framework about the estimation of costs and time with the help of proper guidance, development and controlling methods. Part 3 Execution How can the above unfortunate situation with Bill be solved? Write a short report with several alternatives and suggestions to meet up with John. The project was going well but all of a sudden, one of the working staffs Bill met with an accident, as a result of which he was allowed to rest for four months, and the company cannot afford to lose any staffs at that stage. John has been recommended to recruit a staff immediately who can work for a temporary period of time within the company in place of Bill. The person who must be recruited must possess relevant skills and knowledge so as to deal with such kinds of situations during the project management. A conference or meeting has been conducted with John relating to the incident and how this problem can be solved. Another thing which can be done, is to enable the work breakdown structure which can divide the work among each and every individual (Winter et al, 2006). Though an employee is not available, still the company can provide a very significant amount of more work. In case Bill is not present, the whole workload cannot be given to another staffs. So the whole work which was done by Bill can be divided in such a manner, so that it can be managed by all the employees with little bit of extra work till the time Bill returns to the company. This will also not give more pressure to the employees (Baker et al, 2008). Part 4 Controlling You have been asked to chair these meetings and send a memo to all employees emphasizing their commitment and the strategic importance of this project to making it a success. Draft a short memo to this effect. Memo To: Toys4U employees Cc: Toys4U managers From: Toys4U, UK Date: 3.5.16 This is to inform all of you that your commitment and performance have managed to brought efficiency in the project management. The strategic importance has been beneficial for the company to the various plans and procedures that have been prepared by all of you have been beneficial during this project management. Our beloved employee Bill has faced an accident, due to which there will be a bit more pressure on all of you during these four months. But I am sure that you all will work as a unit to perform in such a manner so that our project can be successful, and it can bring profitability in huge amount for the organization as a whole (Burke, 2013). After the first bi-monthly meeting and consultations with business experts, you have convinced John that the only way to finish project successfully is to compromise scope by having only absolute essential functionality. Critically evaluate what functionality and/or features can be compromised. According to John, it is important to carry out outsourcing of software development which has helped Toys4U to make the products and services available online, which have been easily accessed and purchased by the customers. The implementation of information technology is also needed for managing innovative approaches which can bring fruitful results. With the installation of advanced machineries and equipmentâs, the products and services developed by the company would be of much higher quality, which can easily enable the project to be successful and noteworthy (Cicmil et al, 2006). Other functionalities include the various management approaches include the managing of human as well as financial resources, which can also make the project successful. It is important for the leaders to motivate and encourage the staffs of the Toys4U, so that they can work in a better manner and perform much more efficiently. The employees and working staffs are also needed to be provided with proper remunerations and other benefits, which can strengthen their ability to perform better. Providing training sessions can also enhance their skills and knowledge, and thus enhancing their abilities to perform better, and make the organization generate more revenue in business (Fitzsimmons & Fitzsimmons, 2013). Part 5 Closing Prepare a lessons-learned report for the entire project. Include input from all stakeholders in summarizing the lessons learned. The stakeholdersâ analysis shows that the stakeholders must be identified properly and then relevant data and information must be gathered based on their inputs to the organization. The employees are the stakeholders who are part of the business organization Toys4U. They manage all the operations and processes, in order to bring positive outcomes for the organization. The suppliers supply the organizations with raw materials and supplies which are required for producing the products and services (Kerzner, 2013). The supplies must be of good quality, so that the manufactured products and services are also of high quality. The investors or shareholders are considered as important stakeholders in business as because, they are responsible for making investments on the company, which can allow the company to expand its business and accomplish the projects successfully. The most important stakeholders are the customers. The customers must be provided with products and services by Toys4U which can satisfy their needs and requirements, otherwise they would remain unsatisfied and would not make purchases from the company on a consistent manner (Larson & Gray, 2011). Slides References Baker, B. N., Murphy, D. C., & Fisher, D. (2008). Factors affecting project success. Project Management Handbook, Second Edition, 902-919. Burke, R. (2013). Project management: planning and control techniques. New Jersey, USA. Cicmil, S., Williams, T., Thomas, J., & Hodgson, D. (2006). Rethinking project management: researching the actuality of projects. International Journal of Project Management, 24(8), 675-686. Fitzsimmons, J., & Fitzsimmons, M. (2013). Service management: Operations, strategy, information technology. McGraw-Hill Higher Education. Kerzner, H. R. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons. Larson, E. W., & Gray, C. F. (2011). Project management: The managerial process. Meredith, J. R., & Mantel Jr, S. J. (2011). Project management: a managerial approach. John Wiley & Sons. Schwalbe, K. (2015). Information technology project management. Cengage Learning. Turner, J. R. (2014). The handbook of project-based management (Vol. 92). McGraw-hill. Winter, M., Smith, C., Morris, P., & Cicmil, S. (2006). Directions for future research in project management: The main findings of a UK government-funded research network. International journal of project management, 24(8), 638-649.