PROJECT MANAGEMENT

Project Development and Implementation for Strategic Managers

Table of Contents

TASK 13

Factors that contribute to the process of project selection3

Project specification for the implementation of new product5

Specification for an agreed project to implement8

Project Plan for an agreed project10

Match resources for the project10

Cost all resources required for implementation11

Agreed timescales for the management and implementation and monitoring of project13

TASK 215

Task 1: Introduction to the project15

Task 2: Estimation of the Time and Cost for the Entire Project15

Task 3: Estimating the Number of Programmers and Designers Needed16

Task 4: Estimation for the Cost of Software17

Task 5: Major Tasks to Be Carried Out19

Task 6: Order of the Task to be carried out20

Task 7: Major Risks That Could Affect the Delivery of the Project22

Task 8: Work Breakdown Structure (WBS) and Process Breakdown Structure (PBS)24

Task 9: Project Plan Using MS Project27

Task 10: Critical Path Analysis to Demonstrate the Beginning to End of the Project28

Task 11: Direct and Indirect Costs29

References31

Project Development and Implementation for Strategic Managers

TASK 1

Factors that contribute to the process of project selection

One of the biggest decisions that any organization would have to make is related to the projects they would undertake. Once a proposal has been received, there are numerous factors that need to be considered before an organization decides to take it up (Lewis, 1995: 231). The most viable option needs to be chosen, keeping in mind the goals and requirements of the organization. How is it then that you decide whether a project is viable? How to you decide if the project at hand is worth approving? This is where project selection methods come in use.

Choosing a project using the right method is therefore of utmost importance. This is what will ultimately define the way the project is to be carried out. But the question then arises as to how you would go about finding the right methodology for your particular organization At this instance, you would need careful guidance in the project selection criteria, as a small mistake could be detrimental to your project as a whole, and in the long run, the organization as well.

There are various project selection methods practiced by the modern business organizations. These methods have different features and characteristics. Therefore, each selection method is best for different organizations. Although there are many differences between these project selection methods, usually the underlying concepts and principles are the same. Following is an illustration of two of such methods (Benefit Measurement and Constrained Optimization methods).

As the value of one project would need to be compared against the other projects, you could use the benefit measurement methods. This could include various techniques, of which the following are the most common.

You and your team could come up with certain criteria that you want your ideal project objectives to meet. You could then give each project scores based on how they rate in each of these criteria, and then choose the project with the highest score.

When it comes to the Discounted Cash flow method, the future value of a project is ascertained by considering the ...