Optimizing Resources: A Project Manager's Strategy Essay

Part A

Part A 

Some questions most suit development of answers in an Excel Spreadsheet. Please submit a single spreadsheet with a different tab used for each of those questions. Other questions are to be submitted in an MS Word document. If you would like to use another layout or arrangement then please discuss it with your tutor prior to submission.

1.Create a Stakeholder Matrix; this must include a minimum of 4 stakeholders, and indicate:

a.who the stakeholder is (i.e. person, group or organisation)

b.what their level of interest is

c.what their level of influence is

d.what strategy you would plan for this person/group (in a real-world situation)

2.Calculate the baseline Planned Value for each day in period 1.

Assume:

a.Work will start on the baseline starting date, and proceed at 8 hours per day (assume all required resources will be available for the whole day)

b.The baseline resource costs/rates will be used

c.No work is planned for weekends

d.No training nor managerial events for period 1

3.Develop a resource calendar. This should align with your WBS, and must include at least the following information for each resource you plan to use (e.g. Rough Carpenter #1, Rough Carpenter #2, etc.):

a.The resource category

b.Periods to be used

c.Hire Period(s)

d.Release Period(s)

e.Number of idle periods during employment

f.Plan for idle periods (if applicable)

4.Develop a resource hiring strategy; your answer must describe:

a.How you will decide which resources to bid for – for example, will you prioritise certain traits, generally ‘high quality’ resources or inexpensive resources, how that strategy change when hiring multiple resources from the same group, etc.

b.How you will decide what rate to bid – for example, will you offer the standard rate, the baseline rate, or a strategic rate?

c.What you hope to achieve with this strategy; specifically, how you anticipate this will impact budget, resource productivity, schedule, task quality, team cohesion/diversity, or any other metrics.

d.In the real world any ratings of personnel traits are uncertain, but sim4projects does give you clear metrics on potential candidates. You may choose to use an excel formula to prioritise your resource options based on these attributes.

e.Do not share this strategy with your class-mates or you may find yourself missing out on resources!

5.Based on your plans, prepare a budget grouped by time period. This does not have to align with your baseline if you have identified beneficial changes (for example, strategically increasing spending for some tasks, planned training, and managerial events). This will be your project baseline. Each period must include your planned budget for:

a.Completing all tasks (individual tasks do not need to be specified)

b.Training

c.Managerial events

d.Contingency reserve

6.Quality is an important consideration in all projects. Our sim4project simulation includes a number of quality control tasks.

a.List all of the quality control tasks in the house build simulation

b.Select one of these tasks, and explain how this task would impact quality in a real house building project; what is the purpose of this task? And what could this task result in?

c.How could you plan for quality when preparing work package instructions? 

7.After completing Period 1, calculate the following metrics for each task in Period 1 (working/formulae must be shown – not just a value).

a.CV

b.CPI

c.SV(t)

d.SPI(t)

8.Create a list or table events/triggers that would (in the real world) prompt communications with stakeholders or virtual team members. For each event, indicate:

1.what information would be communicated

2.to whom it would be communicated

3.by what method would it be communicated

4.why that method

Consider a wide range of events, such as schedule issues, resource changes or employment period changes, etc. A minimum of 5 are required.

9.In executing your plan, there are a number of risks. Create a Risk Register to address these. This register must include at least 5 project risks, and state the following:

a.A description of the risk

b.What area(s) of your project the risk will impact (e.g. budget, schedule, quality, team cohesion, etc.)

c.How likely is the event to occur

d.How significant the consequences would be if it were to occur

e.What preventative action could be taken to likelihood

f.What corrective action could be taken to minimise the consequence if it did occur

10.Develop a cost curve showing both the planned value and actual cost for each day of the actual project duration. Describe at least two features on this chart; for example, is there anywhere on the chart that shows where a change in strategy took place, or any event occurred (for example, where key resources were missed).