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Online Stud Farm Management (OSFM) System Factors

Info: 4885 words (20 pages) Essay
Published: 8th Feb 2020 in Project Management

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Table of Contents

Introduction

Part One: Measurable Organizational Value (MOV)

Part Two: Scope Management Plan

Scope of the project

Plan of scope management

Resources

Part Three: Work Breakdown Structure

Resource and Time management

Budget

Part Four: Risk Analysis of Project

Project Assumptions

Risk Identification

Part Five: Quality Management Plan

Part Six: Closure Checklist and Evaluation of Project

Closure Checklist

Project Evaluation

Conclusion

Reference List

Appendices

Appendix 1: Annotated Bibliography

Reference 1

Reference 2

Reference 3

Introduction

The concerned report will focus on the preparation of a project charter in order to evaluate the study of Online Stud Farm Management (OSFM) system in farms of Australia. The project charter will describe the application of the online system including the objectives and features of the project along with the identification of its shareholders, the role and functions of the project manager so that the management of the project can be carried on successfully.

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 Part One: Measurable Organizational Value (MOV)

The main objective of the project charter is to prepare an online application system for the management of the information of the stud farms so that the laborious manual work, which is much time consuming, can be reduced. This will also help to decrease the manual employment works, reduce the chances of errors and become much cost efficient (Kerzner, 2017). The stud farms of Australia can achieve the desired goals of becoming efficient in work performance through this system. The desired areas of impact are strategy, customer, operational, financial and social.

Desired areas of impact

Rankings in order of importance

Strategy

1 (highest)

Operational

2 (high)

Financial

3 (medium)

Customer

4 (low)

Social

5 (lowest)

Table 1: Measurable Organizational Value Impact

(Source: Created by learner)

The value of the project of the management system is ‘better’. This is because of the online stud management system will increase the quality of the work performed, which is much important for the clients of the farms. Another value of the project can be said as ‘cheaper’ as the online system will be much cost efficient as it will help to reduce the extra costs of doing manual work along with reducing the number of errors and other management and operational costs (Duong et al., 2019).

The targets and expectations of all the stakeholders of the farms can be summarized as follows:

●       Getting about 100 new registrations of customers during the first year of the application of the online system

●       Reducing the cost of operations by 30%

●       Increasing the shareholder proficiency level by 31%

●       Getting an approximate level of 20% return on the investments

Timeframe: The successful utilization of the OSFM system depends on the number of expected customers and the timeframe (Liu et al., 2017). It is predicted up to 100 new customers in the first year so that 20% return on investment can be obtained from the project.

Year

MOV

1

20% rate of return on investment with 100 customers

2

25% rate of return on investment with 500 customers

3

30% rate of return on investment with 1000 customers

Table 2: Timeframe of MOV

(Source: Created by learner)

Part Two: Scope Management Plan

Scope of the project

The scope of the project focuses on the work to be done associated with the application of the OSFM system in managing the day-to-day activities of the farms of Australia. The system is concerned with replacing the manual work system in the farms with the online management system of the activities including booking of breeders, online payments, and reduction of operating costs, customer management, and increase revenue production and so on (Richards et al., 2017). In order to achieve these goals, the scope management plan of the project will concern about collection of data, definition of scope, verification of scope, structure of work breakdown and controlling the scope. The functional requirements are:

●       Online transaction system

●       Online breed booking management

●       Access stores information regarding breed information, history of bookings and payments and insurance details and so on

●       Access financial information, breeding study and reviews, fees of exams and results, caring process, progress of health situations and so on

●       Provide comments and feedback

The non-functional requirements are:

●       Budget structure

●       Financial transaction

Plan of scope management

Project Name: Online Stud Farm Management (OSFM) system

Created By:

Date:

Management of Project Scope: The scope of the project can be managed through undertaking a brief description of the management plan.

Process of planning- Evaluation of the requirements in the project, stakeholder targets and expectations, role and functions of project manager and plan development for resource allocation and work breakdown structure (WBS).

Controlling and Monitoring- Changes in the scope of the project activities in view of the timeframe, costs and issues associated with the project.

Closing procedure- Audit work and evaluation of the project outcomes and meeting the closure checklist.

Stability of the project: The assumptions made in this project are expected to be stable

Identification of changes: The scope changes can be identified through request changes and their impacts, status of project performance.

Changes in scope integration in management of project: Changes made in timeframe, costs and quality of the project.

Regular notifications to the project stakeholders

Regular updating of planning process, activities, documentation and WBS

Additional remarks: By project managers, members of the project and stakeholders

Table 3: Plan of scope management

(Source:Nguyen & Watanabe, 2018)

Resources

People

Project manager- Managers of the project are responsible for the overall management of the project and the activities related with the project. These include budget formation, formation of team, leading and directing the team in their individual work, regular preparation of the project report for progress of the report, managing the approvals and meetings and communication with the stakeholders (Joslin & Müller, 2015).

System developer- The key roles of the system developer is associated with the formation of a convenient online software for maintaining the day-to-day activities related with the farm for keeping an effective online record of the activities.

Business analyst- The business analysts of the project play an important role in the project including the functions of information collection, scope evaluation, usage of technology in the project, cost efficiency and so on (Nguyen & Watanabe, 2018).

IT professional- This professional will manage the information technology sector of the entire project, any issues and the other programming of this sector.

Auditor- The auditor functions for monitoring the accounting and financial works of the project.

Information Technology

A high-speed internet connection, access to various communication software and tools and It support services.

Facilities

A room for meeting purposes and an office well equipped with IT systems.

Others

Documents related with technical analysis and project functions.

Part Three: Work Breakdown Structure

Figure 1: WBS Structure of project

(Source: Created by learner)

Gantt Chart


Figure 2: Gantt Chart

(Source: Created by learner)

Resource and Time management

Phase

Responsible Person

Timeframe (days)

Planning

Project manager and Business analyst

30

Developing

System developer and IT professional

20

Testing

System developer and IT professional

20

Implementing

System developer and IT professional

10

Closing

Project manager

10

Table 4: Plan of scope management

(Source:Created by learner)

Budget

Activities

Amt. ($)

Labor cost

2400

Equipment cost

1400

Planning and Designing cost

500

Software cost

500

Installation cost

500

Salaries and wages

2700

Other indirect costs (20%)

2000

Total

10000

Table 5: Project Budget

(Source:Created by learner)

Part Four: Risk Analysis of Project  

Project Assumptions

Virtucon will be supported by Globex in the initiation and planning phase of the project, whereby the budget and resource approval system will help in estimating for the project. On the other hand, the project will help in managing the report by reducing the manual works with dependency towards the employees (Mok, Shen & Yang, 2015)

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Risk Identification

The risks may arise in different phases and thus can both be known or unknown. In order to mitigate the possible risks, analysis and identification of risk in this project need to be done. In terms of this project, improper estimation of budget and improper planning of the project can lead to project failure. In order to measure the effectiveness of OSFM, the project benefits need to be analysed with respect of the budget and resources. Business system analyst and project manager can be assigned for analysing the project budget, resource, and schedule.

In the development phase of the OSFM project, technical aspects need to be checked. However, risks in terms of technical errors may arise due to program failure. In this context, the responsibility to check the technical error risks will be provided to the system developer along with the project manager.

In terms of the testing phase, improper reporting and review of the test results may pose towards system functionality risks, which needs to be reviewed by the IT professionals to deal with the potential risks. IT programmer and system developer will be assigned with the responsibility (Heravi, Coffey & Trigunarsyah, 2015).

An IT expert needs to be appointed to make sure that the result of the test is proper and if there is any risk, such as coding errors of software and compatibility errors.

At the phase of implementation, failure of budget planning and management of contingency fund can act as a risk that will lead to financial loss. In this situation project manager, programmer and system developer will be responsible to manage the risk. They can develop a mitigation plan in order to include an additional budget for software upgrade and system maintenance (Butt, Naaranoja & Savolainen, 2016).

At the closing phase, another risk can be rise from the time extension of the project, which can delay the project’s progress. In this case, the project manager needs to adopt a strategy of proper communication with the key stakeholders and project members to inform about the project documentation. 

Part Five: Quality Management Plan      

The Online Stud Farm Management System Project uses standardised IT tools to pay quality standards in designing the system in order to accomplish the requirement of clients. In order to manage the quality of the OSFMS project, different aspects of quality, including; activities and roles, quality standards, quality tools along with project deliverables need to be considered (Hazır, 2015).

Validation activities: Validation activities are adopted to manage a review and test the steps and confirm these are on track

Verification activities: Verification activities are the methods that verify the quality, confirmation of system features such as reviews, inspection, and walkthroughs. Project manager, end customers, team members, and project sponsors will be involved in managing the project quality.

Part Six: Closure Checklist and Evaluation of Project

Closure Checklist

●       Project description

●       Budget details

●       Project deliverables

●       Risk analysis and plan

●       Project on-site documentation

●       Performance evaluation plan

●       Progress report of project

Project Evaluation

The document of risk analysis is mainly derived from the internal and external situation of the OSFM project. Therefore, OSFM project will review both the internal and external risks in respective of project deliverables and objectives (Takey & de Carvalho, 2015). Stakeholder’s involvement will be done through conducting stakeholders accepting meeting, whereby documentation in relation to project will be delivered to them. KPIs will be evaluated in order to measure project’s success and progress of OSFM system.

Conclusion

The project charter regarding the OSFM system for its application in the farms of Australia concludes that the requirement of the system is intense in this sector for becoming work efficient and also becoming cost efficient with revenue generation at the same time. The study can support the purpose of development of future project.

Reference List

  • Butt, A., Naaranoja, M., & Savolainen, J. (2016). Project change stakeholder communication. International Journal of Project Management34(8), 1579-1595. Retrieved from https://www.sciencedirect.com/science/article/pii/S0263786316300850
  • Duong, T., Brewer, T., Luck, J., & Zander, K. (2019). A global review of farmers’ perceptions of agricultural risks and risk management strategies. Agriculture9(1), 10. Retrieved from: https://www.mdpi.com/2077-0472/9/1/10/pdf
  • Hazır, Ö. (2015). A review of analytical models, approaches and decision support tools in project monitoring and control. International Journal of Project Management, 33(4), 808-815. Retrieved from https://pdfs.semanticscholar.org/ea06/8c55253e18b0c4499801819009df2c104708.pdf?_ga=2.110137925.1533381631.1557835477-2033449522.1557835477
  • Heravi, A., Coffey, V., & Trigunarsyah, B. (2015). Evaluating the level of stakeholder involvement during the project planning processes of building projects. International Journal of Project Management, 33(5), 985-997. Retrieved from https://www.sciencedirect.com/science/article/pii/S0263786314002154
  • https://www.sciencedirect.com/science/article/abs/pii/S0263786314001355
  • Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management33(6), 1377-1392. Retrieved from: https://paperdownload.me/wp-content/uploads/2017/12/6284-relationships-project-management-methodology-project-success-project-governance-contexts.pdf
  • Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. US: John Wiley & Sons. Retrieved from: https://s3.amazonaws.com/academia.edu.documents/46594659/1315b_-_Kerzner_-_Understand_Metrics.pdf?AWSAccessKeyId=AKIAIWOWYYGZ2Y53UL3A&Expires=1557822409&Signature=i529IzSDnTSVhncyf%2F4IU61t4lI%3D&response-content-disposition=inline%3B%20filename%3DProject_Management_Metrics_KPIs_and_Dash.pdf
  • Liu, J., Jin, F., Xie, Q., & Skitmore, M. (2017). Improving risk assessment in financial feasibility of international engineering projects: A risk driver perspective. International Journal of Project Management35(2), 204-211. Retrieved from: https://www.researchgate.net/profile/Mehrdad_Arashpour/publication/296686805_Analysis_of_interacting_uncertainties_in_on-site_and_off-site_activities_Implications_for_hybrid_construction/links/56ddf3bf08aed4e2a99c6294/Analysis-of-interacting-uncertainties-in-on-site-and-off-site-activities-Implications-for-hybrid-construction.pdf
  • Mok, K. Y., Shen, G. Q., & Yang, J. (2015). Stakeholder management studies in mega construction projects: A review and future directions. International Journal of Project Management, 33(2), 446-457. Retrieved from
  • Nguyen, L. H., & Watanabe, T. (2018). Project Organizational Culture Framework in Construction Industry. In Organizational Culture. IntechOpen. Retrieved from: https://www.intechopen.com/download/pdf/62016
  • Richards, R. C., Kennedy, C. J., Lovejoy, T. E., & Brancalion, P. H. (2017). Considering farmer land use decisions in efforts to ‘scale up’Payments for Watershed Services. Ecosystem services23, 238-247. Retrieved from: http://esalqlastrop.com.br/img/publicacoes/Considering%20farmer%20land%20use.pdf
  • Takey, S. M., & de Carvalho, M. M. (2015). Competency mapping in project management: An action research study in an engineering company. International Journal of Project Management, 33(4), 784-796. Retrieved from https://fenix.tecnico.ulisboa.pt/downloadFile/1689468335567438/4%20Wednesday%20-%20Competency%20mapping%20in%20project%20management-%20An%20action%20research%20study%20in%20an%20engineering%20company.pdf
  • van Offenbeek, M. A., & Vos, J. F. (2016). An integrative framework for managing project issues across stakeholder groups. International Journal of Project Management34(1), 44-57. Retrieved from https://www.sciencedirect.com/science/article/pii/S0263786315001453

Appendices

Appendix 1: Annotated Bibliography

Reference 1

Description

Authors:  Butt, A., Naaranoja, M., & Savolainen, J.

Publication Year: 2016

Article Title: Project change stakeholder communication.

Violume Number: 34

Issue Number: 8

Page Range:1579-1595

The author Aurangzeb, Marja & Jussi examine that in the change project process of management and evolve project culture, the communication routines impact on the stakeholder engagement. The communication practices change with inductive design in two contexts. A fact derived from the result, effective communication ensures the participation of stakeholder through empowerment and teamwork in the management processes’ change, while straightforward and rational project culture arises from lack of communication where efficiency and task performance are more preferable than the involvement of stakeholder.

Reference 2 

Description

Authors: Takey, S. M., & de Carvalho, M. M.

Publication Year: 2015

Article Title: Competency mapping in project management: An action research study in an engineering company.

Violume Number: 33

Issue Number: 4

Page Range:784-796

The research study by Takey& de Carvalho (2015) illustrates the significance of competency mapping.  The article approaches the qualitative research design through using self-assessment surveys, interviews in the context of competence and criteria of performance. The article develops a coherent study in order to identify the crucial role of competency planning in project success. The article suggests that in order to assure the project effectiveness, managing the individual competence in the project ins indeed important. Additionally, the study highlights that the competency level of an individual in a project impacts on the project success and individual efforts towards achieving the project goals. The results of the article suggest that individuals in a project play a major role in influencing the project success, thus, competency planning of the project team needs to be analysed in order to identify the complexity of projects by the stakeholders.

Reference 3

Description

Authors: Heravi, A., Coffey, V., & Trigunarsyah, B.

Publication Year: 2015

Article Title: Evaluating the level of stakeholder involvement during the project planning processes of building projects.

Violume Number: 33

Issue Number: 5

Page Range: 985-997

The study by Haeravi, Coffey & Trigunarsyah (2015) highlights the significance of stakeholder management in the projects to accommodate the conflicting interest of stakeholders. The study highlights the stakeholder involvement in the project planning. The study has approached quantitative research design where, questionnaire survey has been approached to the 200 companies involved in sector of residential building. The study illustrates the stakeholder involvement in the project objectives and constraint plays a major role and has a strong impact on the project success. Therefore, the requirements and needs of the stakeholders need to be an important part for managing a project. The results of the article states that stakeholder involvement helps in managing the projects in better manner through analysing the factors and risks associated with it.

 

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