Project Management



Project Brief Report

Purpose of the Report

The purpose of this project is to present the idea of a new venture to the management so that they can approve the plan. This is a brief analysis of the most important aspects of the project. This report briefly describes the project, market, the company, the success factors of the project, expected results, financing needs and the general conclusions. This brief report will help the audience to understand all the factors related to the suggested project.

Background of the Project

Being a dedicated and motivated manager at Magpie Advisory, I intend to expand the business and revenue of the firm. For this purpose, I have come up with a plan of launching a sub-entity of Magpie Advisory with the name of “Magpie Developments”. This project carries several advantages in the short and long run. I have studied various factors associated with this project and designed this project brief report to highlight all the essential factors that are necessary to be considered.

Business Case

The project is basically about launching a separate business or sub-entity with the name “Magpie Developments. It will operate as a separate business entity but in real, it would be owned by Magpie Advisory. This firm will serve as a local 'outsourcing' provider for development projects. The key aim of launching this project is to offer services to other companies by hiring students as .Net developers.

There are numerous students in both the post-graduate and undergraduate programs having a diversified range of .NET development experience. These students have worked full-time or part-time in industry before starting their degree. Therefore acquiring their services not only benefit us but their skills will be polished as well that would be our strength in the long run.

Another factor is that there is a large supply of under-employed graduates who are learning development skills and looking for experience in the industry. It is not required to pay them as much as what one would have to pay in the standard Australian marketplace (minimum rates are $12 per hour) but it is also realized that these students can only work in flexible hours due to their studies and classes.

As per the trend of Magpie, where all projects run in accordance with Prince2, this project is in compliance with Prince2 principles as well. PRINCE2 (Projects IN Controlled Environment) is a structured project management. It is an approach to the "best practices" for managing all types of projects and has become the most effective standard for the organization, management and control of projects.

The method divides projects into manageable stages enabling efficient control of resources and regular monitoring of its evolution. PRINCE2 is "product-based", i.e. project plans are focused on delivering results, not only in planning of the activities carried out. PRINCE2 provides a language to common projects.

Benefits of PRINCE2

An organized and controlled start, ensuring that there is a valid reason for the project and that all people and resources are organized and ready for the ...