Essay About Project Management Recommendationangela Bainesops And Reverence Of The Project Selection

Ops 571 – Piper Industries Corporation – Project Management Recommendation
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Project Management RecommendationAngela BainesOPS/5717/26/15Dr. Phillip HarrisDear Piper Industries Corporation: In response to an email sent this week with the reverence of the project selection, the team has successfully achieved an evaluation of the situation effectively. The team has chosen Palomino to analyse future investments. We have made the following decision in ordinance with the amount and values made available for calculation. The team considered several factors for the purpose of differentiating the calculations that include the associated risks and return on the investment. The following includes a summary of the five phases of the project as well as the explanation of the details: Project Conception and Initiation: Define projectBefore the project begins, everyone must have knowledge on whether the company will receive a profit from the related project. The starting and planning stage relates with the quantity of the return of investments and associated risks (Jacobs and Chase, 2011). Subsequently analysing the achievability inquiries the decisions projected for the final investment are completed to make the investment successful.Project PlanningProject planning involves the development of the project management plan (Jacobs and Chase, 2011). The plan consists of cost, scope, time, quality, communication, risk and resources. This stage consequently focusses on prioritizing the project by the means of various team members and working out a budget as well as the time-table. The calculation of the attainable sources for success is performed for final computation.   Project ExecutionBecause of the responsibilities allocated according to the abilities and prospective for using the sources, the project execution is a crucial stage. In addition, the resources and costs are also capitalized on, after the calculation of the vital path.  Project Performance and ControlProject Performance and control concerns the decision and enforces managers to allocate the related responsibilities (Jacobs and Chase, 2011). Project managers are responsible for evaluating project standings and recommending growth of the definite plan executable for each approved schedule (Jacobs and Chase, 2011). This process assists in maintaining the development of the project according to the schedules provided as well as the maintaining the budgeting cost. This process also consists of examining quality and scope for variable management. Consequently, the project can be successfully achieved because of the functional computation of the critical path and the cost accompanied by the quality becoming reserved and controlled. Project CloseAfter the implementing and managing the project as well as achieving responsibilities within a timely manner, the projects approach’s the closing stage. This process consists of reporting and sustaining future implementations and performance evaluations to management ( Jacobs and Chase, 2011). After the all conditions are established the project is closed, and the owners receive documentation including bills, contracts, and philosophies. Project Juniper: The key deliverables associated with the selected projectsSchedule Risk: LowCost: $325,000Durations to completion: six monthsROI: $250,000 yearly for two to three years total =  $500,000 to $750,000Project life: 2-3 yearsPositives: Achievable  goods and possessionsLower riskProvides accurate forecasting Product breakeven is ultimately around a span of two yearsHave abilities to accomplish the client needs of product launch in the next 12 months.Negatives: As the product life is about 2-3 years, the future of the company is certainly at risk.Recommendation: NoProject Palomino:Schedule Risk: MediumCost: $655,000Durations to completion: 9 monthsROI: $450,000 yearly for 5 years total = $ 2,250,000Project life: 7 yearsPositives: Achievable productivityMedium transferable risksContributing an accurate forecasting Product breakeven around 1.5 yearsHave complete capabilities accomplishing client requirements of product introduction in the next 12 months.Negatives: ManageableRecommendation: The project is consequently firmly recommended in addition to the financial and abilities in production and distribution.