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The goal of the Portfolio Project is to develop a project plan to successfully execute a project.
In this option, you will develop, compile, and write important project documents for a service type project with an international component in a company or non-profit organization that you have selected. You must clearly detail the international component of your selected project. It may be that the project is executed in a country other than the United States, or that the supplier is hired from a company headquartered outside the United States. The company or organization can be one that you work for, one with which you are familiar, or one you find through research. The project must be a real project, not yet started, and for delivery of a service. Service projects may include IT software development, healthcare delivery, or fundraising among many others. The project must be a new project that you will plan and must not be an existing project within the organization, nor one you have used in any previous courses in the program. Your instructor will use Turnitin to ensure all work is unique for this section of this course. You must select a project that is complex enough to allow you to demonstrate an understanding of the learning objectives for this course, and that allows you to deliver on all the project management components required in this portfolio project.
The following components must be addressed in your project management plan and must be broken into the following five sections and the associated subsections that follow the project management process groups: Project Initiation; Project Planning; Project Execution, Project Monitoring and Control; and Project Closure.
It is strongly suggested that you consult the PMBOK Guide for further detail on the main considerations in preparing the following items outlined under each of the project phases (initiation, planning, execution, monitoring and controlling, and project closeout). The requirements for each section are as follows:
Project Initiation – Your project plan must include an introduction of the company and the scope of the project. Your project initiation portion of the portfolio project is to include an explanation of those inputs, tools, and techniques that result in a project charter, and stakeholder register.
You began this work in your Module 1 portfolio assignment. To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following subsections:
Project Statement of Work (SOW) – including the business need, product, service, or result scope description, and the strategic plan to show how the project aligns with the organization’s vision, goals, and mission.
Project Charter – which will formally authorize the project and use of resources.
Business case – including information relative to the market demand, organizational need, customer request, technological advance, legal requirement, ecological impact, or social need.
Stakeholder analysis – including analysis of relationships, quantitative, and qualitative information regarding interests of the parties and documented in a power/interest grid, power/influence grid, influence/impact grid, or salience model.
Stakeholder register – including the identification information, assessment information, and stakeholder classification.
Procurement documents – including contract information for key stakeholders and suppliers, and supplier lists.
Optionally, please include (in your appendices):
Agreements – which define the initial intentions captured in a memorandum of understanding, service level agreement, letters of intent, or other written or verbal understanding of the project.
Enterprise environmental factors – including governmental standards, organizational culture, organizational structure, and market considerations.
Organizational process assets – including organizational standards, policies, templates, or processes, and historical information that informs the project team.
Tools and Techniques – including expert judgment and facilitation techniques.
Meetings – including information describing the profile analysis meetings.
Project Planning – To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following subsections:
Project Management Plan – including project baselines for scope, schedule, and cost; subsidiary plans for scope management, requirements management, schedule management, cost management, quality management, process improvement management, human resource management, communications management, risk management, procurement management, stakeholder management; other items such as description of how the work will be performed, change management plan, and information on how key management reviews will be conducted.
Traceability Matrix – including information on project requirements, rationale for inclusion, source, priority, and status.
Project Scope Statement – including scope description, acceptance criteria, deliverable, exclusions, constraints, or assumptions.
Create WBS WBS Dictionary – including information on decomposition, and WBS to five levels as shown in the video example in Module 4.
Cost estimates – including basis of estimates, vendor bid analysis, cost benefit analysis, and cost of quality.
Budget – including cost baseline, management reserve, control accounts, contingency reserve, activity contingency reserve, and project funding requirements.
Communications management – including communication requirements analysis, communication technology, communication models and methods.
Risk management – including analytical techniques used, risk breakdown structure; risk categories, probability, and impact matrix; risk categorization, and urgency assessment; risk register with list of risks and potential responses; use of quantitative risk modeling through tornado diagram, decision tree diagram, or cost risk simulation results; and strategies for negative and positive risks.
Tools and Techniques – including interviews, focus groups, decision-making, prototypes, benchmarking, or other tools and techniques.
Rules for cost and performance management – including a discussion of earned value measurement (EVM) techniques.
Activity list, attributes, and milestone list.
Precedence diagramming method (PDM), dependency determination, task duration, and leads and lags, and critical path method (CPM).
Project schedule network diagram with critical path, ES, LS, EF, LF, and slack.
Resource requirements – including resource calendar, resource breakdown structure, resource constraints, and resource leveling.
Estimates of activity duration – including analogous estimating, parametric estimating, or three-point estimating, and reserve analysis.
Quality – including seven basic quality tools, statistical sampling, process improvement plan, quality metrics, and quality checklists.
Human resource management – including organizational charts and position descriptions, responsibility chart matrix, RACI matrix, networking requirements, and pertinent organizational theory.
Procurement management – including make-or-buy analysis, market research, and source selection documents.
Stakeholder management – including desired engagement levels for key stakeholders, and engagement assessment matrix.
Project Execution – To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following subsections:
Change Requests – including formal process to assess changes.
Quality Audit – including formal process to evaluate quality.
Project Team Acquisition, Development, and Management – including expectations for team relative to availability, cost, experience, and ability; whether virtual or collocated; training; team building; recognition and rewards; personnel assessment; and team performance assessment.
Process Documents Updates – including project reports, presentations, and records; stakeholder notifications; and documentation of lessons learned.
Procurement – including bidder conferences, proposal evaluation, advertising, seller selection, and agreements.
Stakeholder Engagement – including issue log, and organizational process assets update.
Monitoring and Controlling – To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following subsections:
Validate Scope – including methods of accepting deliverables, group decision-making, work performance information, and inspection.
Schedule Forecasts – including purpose and measurement at this part of the project.
Earned Value Management – including three key dimensions for each work package.
Change Requests – including corrective action, preventive action, and defect repair.
Change Control Board – including their role in the change control system.
Assets Update – including completed checklists, and report formats.
Control Risks – including risk reassessments.
Control Procurements – including contract change control, payment systems, and claims administration.
Project Closure and Professional Responsibilities – To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following subsections:
Project Closure – Create a project closure report which is summary of the project performance, lessons learned (retrospective), a plan for passing deliverables to the customer, a plan for turning over the project document, and plan for closing vendor contracts and agreements.
Procurement Audits – including closing procurements, and organizational process assets updates.
Project Management Ethics – including PMI expectations.
International Project Considerations – including use of human resources from outside the United States, or executing the project outside the United States.
The project plan must include a 20-30-page essay addressing each of the required components of the paper. You must also include a cover page, references page, and appendices, not included in the page count. The appendices must detail any documents necessary to communicate your plan which may include, but are not limited to a WBS, project budget, documentation on assignment of resources, and budget calculations.
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