Project manager

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Sophomore (College 2nd year) ・Business ・APA

Lectocomp Electronics Manufacturing Company is expected to launch a new technology to be used in various medical devices. Purpose of the charter of projects The aim of this project charter is to include the necessary information needed by policymakers to make informed decisions about whether to approve the financing of the project. The target demographic for this project charter is the sponsor and top-level management of the project. Objectives of the project and scope The goal of this project is to implement the launch of a new device to be used in different medicinal devices. The scope of this project include:

  • Determine stores to supply the product.
  • Establish competitive prices for the new device.
  • Establish the marketing mix to adopt in promoting the new device.

Project resources

Project Team

CEO, project Manager and staff from the various company departments.

Support resources

Staff from outsourced company to produce the prototype boards.

Estimated Timeline

 

Start

Finish

Preliminary analysis

3/1/2017

3/3/2017

System development

5/3/2017

1/5/2017

Integration and testing

11/5//2017

3/10/2017

Deployment

10/10/2017

20/12/2017

Estimated budget

The procurement and implementation team will prepare a proposal based on the projected costs for evaluation by the CEO. The proposal is meant to show feasible funding requirements and to help in obtaining budgeting sponsorship.

Assumptions

  • Supply customers will be medical practitioners and faculty.
  • Implementation of the project will be a coordination between the various organizational departments.
  • A new managerial position will be created, the manager will be in charge of the implementation of the essential procedures, controls, and metrics
  • The project will be handled internally.

Constraints

  • No additional staff will be involved in the implementation of the project.
  • Staff availability to meet for project implementation is limited to their day-to-day working hours.
  • The company does not have strong internal control systems and processes.

Project Charter Acceptance

The below signatories admit to have read the project charter and approve funding of the project.  Modifications to this charter will be organized with and authorized by the signatories or their authorized representatives.

Name:

 

 

Title:

 

 

Signature:

 

 

 

Date:

 

 

 

 

Name:

 

 

Title:

 

 

Signature:

 

 

 

Date:

 

 

 

Addendum to risk management plan

Notification to the vendor

I hereby bring to your notice modification of risk management plans as stipulated in this addendum. Nonetheless, the previously adopted addenda will be operational with exceptions to section amendments made due this addendum. The vendor should adhere to this addendum in delivery of required prototype, failure to which will result to breach of contract.

Delivery deadline for prototype

Modifications have been made to the date of delivery of the prototype.

The deadline date for submission of prototype to the company is Day/Month/Year at ….(time)

Technical Knowledge

The vendors must have technical training to handle the prototype and great emphasis are made on possession of practicing certificate from a recognized professional body.

Penalty

Failure by the vendor to deliver the prototype within the stipulated time will attract a penalty of 20% on the agreed contractual fee.

Additional Information

For creation of a new opportunity, a new project strategic plan needs to be adopted. The new change in plan I would adopt is engaging other vendors in the development and delivery of the prototype. This will result in the opportunity of innovative good quality prototype designs. The probability of occurrence of this opportunity will be high as the vendors will pool together their expertise and knowledge towards the prototype boards.

This plan however presents some adverse risks to the project, therefore all project team members should be involved in hiring of new vendors. This plan will result in additional project costs due to further salary for the new vendors.

Communication will be made to the vendors by delivering written documentations of the plans. The company’s management and vendors will also meet to respond to queries arising from this documented notice.

Excel sheet

 

·         Project costs exceeds the estimated budget.

 

·         Change in the foreign exchange rates can lead to increased project costs.

 

·         Changes in inflation levels can lead to increase in material costs.

 

·         Introduction of new government regulations such as taxation can impact negatively.

 

·         Occurrence of an economic crisis such as great financial crisis can affect the cost of the project.

Cost Related Risks

·         Budget cuts by sponsors and donors delay project plans.

 

·         Delays in disbursements of funds by sponsors can interrupt the implementation of the project.

 

·         Increase in the cost incurred in hiring experts to help in the implementation of the project.

 

·         Increased costs due to defective products.

 

·         Increased costs due delays in delivery of the product.

 

·         Increased bank charges to acquire additional funding, such as interest rates and transactions costs.

 

·         Increased wage levels in the market.

 

·         Increase in rent of the company premises.

 

·         Lawsuits for damages caused in the course of the e project increases the costs.

 

·         High marketing and promotion costs.

 

 

 

·         Failure by top management to offer support for the project.

 

·         Top executive with minimal experience to handle the project.

 

·         Poor communication between the management and staff.

 

·         Conflicts arising between the stakeholders and management.

 

·         A key top level management exiting the company when the project is underway.

 

·         Misappropriation of funds by the management.

 

·         Conflicts among the top level managements.

Management Risks

·         Limitations of scope.

 

·         Bureaucracy by the management leading to delays in implementation of the project.

 

·         Introduction of new procedures by management that reduces the project team motivation.

 

·         Delays by management to hire and replace exiting staff members.

 

·         Failure by management to set achievable targets.

 

·         Failure by top management to observe due diligence when choosing the project team.

 

·         Poaching of an important manager by a competitor.

 

·         Poor corporate governance.

 

 

 

·         Low staff turnover.

 

·         Staff with inadequate skills to handle the project.

 

·         Lack of dedication towards the project by the staff.

 

·         Poor allocation of time and work schedules.

 

·         Failure by staff to clearly understand their role in the project.

 

·         Poor wages and salaries may affect morale of the staff.

 

·         Unbearable working conditions for the staff may delay implementation of the project.

Customer and Project Team

·         Theft by the staff.

Related Risks

·         Layoffs and retrenchment of staff by the company.

 

·         Conflicts among the employees.

 

·         Departure or resignation of a key employee

 

·         Poor employee-customer relationship.

 

·         Project team members injuries in the course of the project.

 

·         Failure by the staff to meet their assigned targets.

 

·         Failure of project members to be kept up to date.

 

·         Lack of consultation with project members when implementing the project.

 

·         Introduction of new labor laws.

 

 

 

·         Poor customer response towards the product.

 

·         Failure by customers to participate in product reviews.

 

·         Inadequate technical proficiency by the customer in using the product.

Customer Related Risks

·         Customer stipulates on new product requirements.

 

·         Customer preference towards the competitor’s goods.

 

·         Poor communication and feedback by the customer.

 

·         Failure to meet customer needs.

 

·         Bad review of the product by customers.

 

·         Customer attitude towards the product.

 

 

 

·         Poor software project management tool.

 

·         Development tools are not available at their desired time.

 

·         Development tools malfunction.

 

·         Development tools do not work to their expected capacity.

 

·         In ability to acquire adequate resources for development of the project.

 

·         User resistance during the development stages.

Development Risk

·         Poor design and analysis tools to support development.

 

·         Lack of compliers and code generators for the product to be created.

 

·         Inadequate testing tools for creation of the product.

 

·         Lack of software configuration management tools.

 

·         Poor integration of software components.

 

·         Lack of professional experts to help in development.

 

·         Inadequate documentation tools during development.

 

 

 

·         Use of outdated methods for software analysis.

 

·         Lack of clearly outlined methods for data and architectural designs.

 

·         Use of complex coding language.

 

·         Unclear test case design methods.

 

·         Lack of software tools that help in software planning and tracking activities.

Technical Risk

·         Use of complicated tools to design software prototypes.

 

·         Collection of low quality metrics for project software.

 

·         Technical facilities are not accessible to support the project.

 

·         Facilities may also be available but are limited, poor network connections.

 

·         Facilities are noisy or disruptive.

 

·         Poor technical training of project team to handle the project.

 

 

 

·         Increased network downtimes.

 

·         Technological security vulnerability, such as viruses.

 

·         Technological mechanisms are not suitable for the role.

 

·         Technological mechanisms are inaccessible.

 

·         Technological failure to have standard interfaces.

Technology Risk

·         Technology mechanisms do not adhere to the required standards.

 

·         Frequent crashing of the technology components.

 

·         Unreliable technology mechanisms.

 

·         The technology adapted is not compatible,

 

·         Loopholes in the technology components that may lead to leak of crucial project information.

 

·         Failure of legacy components to have documentation.

 

·         System malfunctioning and outages.

 

·         Technology mechanisms that are difficult to run and maintain.

 

·         Adaptation of technological mechanisms that are not user friendly.

 

·         Technical hitches with project management tools.

 

 

 

·         Delays by stakeholders in making approvals.

 

·         Financial constraints by stakeholders.

 

·         Hostile takeover of the company leading to halt of the project.

 

·         Conflicts among stakeholders.

 

·         Lack of optimism on the success of the project by stakeholders.

 

·         Stakeholders refusal to approval major changes in the project.

Shareholder Risk

·         Failure by stakeholders to follow up and interact with the management in the course of the project.

 

·         Unrealistic expectations by the stakeholders.

 

·         Low turnover by the stakeholders.

 

·         Conflict of interest by stakeholders.

 

·         Poor decision making by stakeholders.

 

·         Shareholders change in the target date for completion of the project with no consequent change in the allocated resources.

 

 

 

·         Failure to come up with a reasonable contract price.

 

·         Vendor delivers components that are different from what they are assigned.

 

·         Undesirable contract terms.

 

·         Conflict and misunderstandings with the vendor.

 

·         Vendor fails to delivers substandard product.

 

·         Vendor gives rise to third party liability, such as infringement of copyrights and patents.

Procurement Related Risk

·         Breach of contract by the vendor.

 

·         Communication barriers and lack of cooperation by the vendor.

 

·         High shipment costs by the vendor.

 

·         Delivery of spoiled/ broken down product from the vendor.

 

·         Failure by the vendor to adhere to the required ethical standards.

 

·         Red tape in the company’s procurement processes leading to delays.

 

·         Delays in recruitment of procurement personnel.

 

·         Irregularities by procurement personnel.

 

·         Poor adaptation of new procurement procedures leading to delays.

 

 

 

·         Political instability

 

·         Natural calamities, such as floods and hurricanes.

 

·         Change in regulations and laws in the industry that the company operates in.

 

·         The social –cultural and religious beliefs of the targeted market.

External Risks

·         Occurrence of war.

 

·         Change of government that is supportive to the private sector.

 

·         Trade restrictions.

 

·         Existence of counterfeit products that resemble the company’s product.

 

·         Deportation of immigrants by the government, may affect the company staff.

 

 

 

·         Failure to adhere to the project methodology

 

·         Lack of control of the project.

 

·         Mistakes in major project management procedures.

 

·         Lack of proper oversight in project management.

 

·         Failure to follow the project schedule.

Project Management Risks

·         Poor project planning.

 

·         Project schedules omit crucial tasks.

 

·         Allocation of small time for different project phases.

 

·         Delay in completion of the project.

 

·         Abandonment of the project midway resulting in inefficient products.

 

 

 

·         Poor quality customer services.

 

·         Low quality production methods.

 

·         Poor quality resources.

Quality Related Risks

·         Unappealing packaging.

 

·         Poor advertising of the product.

 

·         Increased numbers of warranties.

 

·         Poor public perception of the company.

 

 

 

·         Late delivery of project material by suppliers.

 

·         Late delivery of the prototype by the vendor.

 

·         Delays of customer payments.

 

·         Breakdown of equipment leading to delays in the project.

 

·         Delayed implementation of various project phases.

Schedule Risks

·         Bureaucracy in issuance of government permits and licenses.

 

·         Slow responses from the various company departments.

 

·         Slow responses from donors and financial institutions.

 

·         Failure/ delay of key debtors to pay their debts.

 

·         Delivering of wrong quotations/ shipments from suppliers leading to delays in the project.

 

 

 

·         Poor demand of the product in the market.

 

·         Fluctuating market prices for the product.

 

·         The product negatively affects the company brand.

Business/ Commerce Risks

·         The product generate negative reaction from the public hence affecting its reputation.

 

·         Oversupply of the product in the market.

 

·         Failure of the product to increase sales of the company.

 

·         Existence of complementary/ substitute products from competitors.

 

·         Defective products in the market.

 

 

 

·         The project conflicts with the company’s culture.

 

·         Restructuring of the organizational management.

 

·         Merger/ acquisition of the company.

 

·         Involvement of the company in a major corruption scandal hence injuring its reputation.

Organizational Risks

·         Bankruptcy/ liquidation of the company will halt the project.

 

·         Collapse of the parent company may affect the project.

 

·         Change of company location to different country can halt the project.

 

·         Change in the company strategy and business model.

 

·         Poor and inefficient organizational structure.

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