Tulsa Community College Guest House Strategic Business Project Paper I have attached a requirement along with a sample assignment. While working on the pro
Tulsa Community College Guest House Strategic Business Project Paper I have attached a requirement along with a sample assignment. While working on the project, make it as simple as possible and straight forward. For each point, it shouldn’t be more than a page. College of Business
MBA 530 Managing Strategic Business Projects
Instructions for Developing the Portfolio of the Course Project
This exercise is an integral part of this course aims to gain basic hands-on experience in
managing real-life projects. The work must be submitted to the instructor before the set
deadline for assessment. Below are the key steps to manage this exercise:
1 Select the Project:
Select small and practical project you are familiar with. Preferably from a real scenario
that may involve the students career, social, or logistical interests. This will be discussed
and explained further in class.
2 Get Instructor Approval:
If in doubt in selecting the project, please share your ideas with the instructor to discuss
your project for appropriateness to this exercise.
3 Practice PM Tools:
Use the specifics of your project to construct and submit a portfolio that comprise the
below project management documents. Templates for most of these documents are
uploaded in Moodle, the rest are discussed in the class at various lectures.
1.
2.
3.
4.
5.
6.
7.
8.
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10.
11.
12.
13.
14.
15.
16.
17.
18.
19.
20.
21.
22.
23.
24.
25.
Business case
Adopt system approach to analyze business initiative
Select appropriate business initiative using quantitative approach
Project charter
Assumptions and constraints
Stakeholders register
Stakeholders management grid(s)
Project scope statement
Work breakdown structure
Milestone list
Activity duration estimates (PERT)
Network diagram using CPM
Gantt chart
Basis of cost estimation
Activity cost estimates
Project funding requirements
Quality matric
Quality checklist
Requirements traceability matrix
Resource breakdown structure
Responsibility assignment matrix
Progress report
Status report
Earned value report
Selection criteria for project procurement activities
Page 1 of 2
College of Business
MBA 530 Managing Strategic Business Projects
Instructions for Developing the Portfolio of the Course Project
26.
27.
28.
29.
30.
31.
32.
33.
34.
Risk management plan
Risk identification
Risk breakdown structure
Risk register with risk response
Change request form
Change register/Log
Issue log
Closure report
Lessons learned
4 General Notes:
(a)
The templates supplied are meant to get you started and support this exercise
from educational perspectives. In practice, the project manager has more
flexibility to change the contents of these templates as per the project specifics
and any constraints imposed by the organizational, environmental or the local
PMO practices.
(b)
The exact contents of each of these templates and possible variations will be
pointed out by the instructor at different stages along the course.
(c)
The deadline to submit the project including all above, is before the last week of
the course.
(d)
You may contact the instructor (see syllabus for contact information) for any
query you may have.
Page 2 of 2
IBRAHIM AL THAGAFI
G185052
Managing Strategic
Business Projects
BUYING A HOLIDAY
HOME
Course Practical Project
1
Project Management Buying a Holiday Home
Introduction
The project selected for the purpose of this assignment is to purchase a holiday home in London.
I have chosen this project because it has always been my dream to purchase a home in London but
I did not know how to complete this project and achieve this goal. Its a great exercise to do.
1) System Approach to Analyze an Initiative
Project: Purchasing a Holiday Home (apartment) in London
Description:
? The home needs to be purchased within a period of three months.
? The value of the apartment should be between £1.5 million to £2 million which
excludes the amount paid to the rental agency as commission.
? The apartment should be either semi-furnished or fully furnished.
? It is preferable that the apartment should be near to a metro station which would
make it easier for me and my family to commute.
Root Cause of the No Support:
? Mr. Ahmed are involved in the decision making process of buying a home and he
is reluctant as he believes that the real estate prices in London are high at the
moment due to the Brexit.
2
System Approach
Business
Organization
Technology
The time period for the
Real estate agents will be
Mobile applications
completion of the
contacted to help in
would be used to search
project is three months.
searching for an
for apartments in
apartment
different locations in
London.
The budget of this
The decision to purchase
Databases and websites
project is between £1.5
the house will be made
of real estate agents
million to £2 million
Ibrahim and (Mr.
would be accessed to
which excludes the
Ahmed). This is because
search for an apartment.
amount paid to the
Mr. Ahmed will provide
rental agency as
the finance for the house.
commission (usually
2%).
3
2) Business Initiative/Project Using Weighted Approach
Weighted Factor Model
Criteria and Weights
Alternatives
Value
Location and
Furnished
Layout
Natural
Age of
for
Neighborhood
(0.12)
(0.16)
Lighting
the
Money
(0.18)
(0.10)
Property
(price)
Total
(0.20)
(0.24)
Broad Court,
Covent Garden
5*0.24
= 1.2
Northumberland
4*0.24
Avenue
= 0.96
Grays Inn Road,
3*0.24
Kings Cross
= 0.72
Newton Street,
3*0.24
Bloomsbury
= 0.72
The Strand,
5*0.24
Covent Garden
4*0.18 = 0.72
3*0.18 = 0.54
4*0.18 = 0.72
4*0.18 = 0.72
5*0.18 = 0.90
= 1.2
5*0.12 =
4*0.16
2*0.1 =
5*0.2 = 1
4.36
0.6
= 0.64
0.2
4*0.12 =
3*0.16
3*0.1 =
3*0.2 =
3.36
0.48
= 0.48
0.3
0.60
4*0.12 =
5*0.16
5*0.1 =
3*0.2 =
3.82
0.48
= 0.80
0.5
3*0.12 =
3*0.16
4*0.1 =
4*0.2 =
3.48
0.36
= 0.48
0.4
0.80
5*0.12 =
5*0.16
5*0.1 =
4*0.2 =
0.6
= 0.80
0.5
0.80
The weighted approach shows that the apartment in The Strand, Covent Garden should be
chosen for purchasing. This apartment costs around £1,525,000. It is also located close to
Temple and Covent Garden metro station.
4.80
4
3) Identify Project Stakeholders
The stakeholders in this project are as follows:
Stakeholder
Internal/External
Project Role
Ibrahim
Internal
Project Manager
Real Estate Agent
External
Executive, helps in
completing the deal
Mr. Ahmed
Internal
Project Sponsor
Family members
Internal
Influencers
4) Projects Assumptions and Constraints
Project Assumptions
The assumption for this project is that as a project manager I will be able to find an
apartment of my choice in Central London which is semi-furnished or fully furnished.
Moreover, another assumption is that I will be able to work with more than one real estate
agent in order to finalize a house.
Project Constraints
One constraint is that the project needs to be completed on time as I have only three months
to complete this project. Another constraint is that the apartment should not be over the
budget of £1.5 million to £2 million. Moreover, once I have chosen the house my father
can take time to transfer the money from Saudi Arabia to London. The amount transferred
can also be affected by the exchange rate as it has been fluctuating more often in the current
time due to changing market conditions and volatility in USD.
5
5) Business Case to Obtain Senior Management Support
In this project, the senior management is Mr. Ahmed as he is financing the purchase of the
house. As a project manager, I worked towards obtaining his support by convincing him
how the purchase of a home in London would be helpful in making the stay of the family
convenient and comfortable during holidays. Moreover, it would also provide support and
convenience to my younger brothers and sisters when they shift to the UK for completing
their higher studies.
6
6) Project Charter
The project charter for the purchase of an apartment in London is as follows:
Project Title: Purchasing a Home in London
Start Date: September 1, 2017
End Date: November 30, 2017
Reference:
Project Manager: Mr. Ibrahim
Brief Project Description:
The project requires purchasing an apartment in London.
Project Key Objectives:
? Purchasing the house within a period of 3 months.
? The budget of the purchase is between £1.5 million to £2 million.
? The house should be a two bedroom apartment.
High-Level Project Scope:
?
The apartment should be either semi-furnished or fully furnished.
?
The apartment should preferably be in walking distance to a metro station.
?
The apartment should be in a good neighborhood.
?
The apartment should have a good layout.
?
The apartment should have natural lighting.
?
The apartment should not be very old whereby the building should not be more than ten
years old.
High-Level Project Deliverables:
? The house should be purchased in Central London before November 30, 2017.
? The value of the apartment should be between £1.5 million to £2 million excluding the real
estate commission.
? The apartment should consist of two bedrooms and have a good layout.
? It should be ideal for housing a family of four people.
7
Team Members and Roles
#
Name
Role
1
Ibrahim
Project Manager
2
Mr. Ahmed
Project Sponsor
3
Real Estate
Agent
Family
Members
Project Executive
4
Influencers in the
project
Comments by the team members (if any):
Mobile #
(optional)
E-Mail
Signature
s
8
7) Stakeholder Communication Matrix
Stakehold
Project
Key Interests and
Communicat
Current
Desired
Contact
Action and
er
Role
Issues
ions
Status
Support
Details
Communication
Approach
(from
Power/Intere
st Grid)
Ibrahim
Project
Responsible for
Manage
Manager
the project scope
closely
Leading
High
Daily reports
discussing the
and completing the
status of the
project within the
project
given timeline and
budget
Mr.
Project
Approves the
Manage
Supporti Medium
Weekly reports
Ahmed
Sponsor
budget for the
closely
ve
discussing the
project; overviews
status of the
the development
project
and will finally
approve the project
Real
Project
Responsible for
Manage
Supporti High
Daily reports
Estate
Executive
looking for
closely
ve
discussing the
Agent
properties and
status of the
completing the
project
project
Family
Influencers
Responsible for
Keep
Neutral
Low
Will be involved
Members
in the
checking if the
informed
project
project fits the
making while
requirements
choosing the
in the decision
project and at
the end.
9
8) Triple Constraint View
The triple constraint view focuses on three main aspects which are cost, time and scope.
The project has a fixed budget whereby the apartment should be between £1.5 million to
£2 million which excludes the amount paid to the rental agency as commission. Moreover,
the timeline for the project is also fixed as the apartment needs to be purchased in a period
of three months by November 30, 2017. The scope of the project involves deciding the
criteria for choosing the apartment; meeting with real estate agents; viewing different
apartments; selecting an apartment; arranging for the finance; preparing the documentation
for projects; making the payment; purchasing the apartment.
10
9) Project Scope Statement
The project scope statement is as follows:
Project Title: Purchasing a Holiday Home in London
Start Date: September 1, 2017
End Date: November 30, 2017
Project Manager: Mr. Ibrahim Revision #:
Reference:
Date: July 20, 2018
Business Purpose:
This project focuses on purchasing an apartment in Central London which can be used as a
holiday home.
Project Goals:
The goals of this project are as follows:
? Purchasing the apartment in Central London within a period of 3 months.
? The budget of the apartment should be between £1.5 million to £2 million.
? The house should be a two bedroom apartment.
Project Work Statement:
The apartment purchased should meet the criteria required by the project manager, Mr. Ahmed
and his family.
Primary Deliverables:
The primary deliverables for this project are as follows:
?
The apartment should be either semi-furnished or fully furnished.
?
The apartment should preferably be in walking distance to a metro station.
?
The apartment should be in a good neighborhood.
?
The apartment should have a good layout.
?
The apartment should have natural lighting.
?
The apartment should not be very old whereby the building should not be more than ten
years old.
11
Key Milestones:
The key milestones for this project are as follows:
?
Deciding the criteria for choosing the apartment;
?
Meeting with real estate agents;
?
Viewing different apartments;
?
Selecting an apartment;
?
Arranging for the finance;
?
Preparing the documentation for projects;
?
Making the payment;
?
Purchasing the apartment.
Constraints:
The project constraints are as follows:
?
Project should be completed within the budget.
?
Project should be completed within the timeframe of three months.
?
The transfer of money from Saudi Arabia to London can take time.
?
The transfer of money can be affected by the exchange rate as it has been fluctuating more
often in the current time due to changing market conditions and volatility in USD.
Project Work Exclusions:
The project does not involve looking for houses like bungalows. It also does not involve looking
for houses or apartments outside of Central London.
12
10) Work Breakdown Structure (WBS)
The work breakdown structure for the project is as follows:
Project Name: Purchasing a Holiday Home in London
Start Date: September 1, 2017
End Date: November 30, 2017
Date: July 15, 2018
Project Manager: Mr. Ibrahim Revision #:
WBS
WBS # Task Name
Reference:
Duration
Responsible
Level
1.0
A
Decide the criteria for choosing the 1 week
Ibrahim and Ahmed
apartment
2.0
B
Meet with real estate agents
1 week
Ibrahim
3.0
C
View different apartments
4 weeks
Ibrahim and the real
estate agents
4.0
D
Select an apartment
2 weeks
Ibrahim, Ahmed and
his family
5.0
E
Transfer of Money from Saudi Arabia to 1 week
Ibrahim and Ahmed
London
6.0
7.0
F
G
Prepare the documentation for the 1 week
Ibrahim and the real
purchase
estate agents
Make the payment for the apartment
1 week
Ibrahim, Ahmed and
the real estate agent
8.0
H
Purchase the apartment
1 week
Ibrahim and Ahmed
13
11) Responsibility Assignment Matrix (RAM)
This project shows the RACI (Responsible, Accountable, Consult and Inform) for all the
people involved in the project.
Task #
Task
Ibrahim
Ahmed
Real
Family
Estate
Members
Agent
A
Decide the criteria for
R
A
C
C
choosing the apartment
B
Meet with real estate agents
R
A
C
I
C
View different apartments
R
A
A
C
D
Select an apartment
R
A
A
C
E
Transfer of Money from
R
A
I
I
R
A
A
I
R
A
A
I
R
A
A
I
Saudi Arabia to London
F
Prepare the documentation
for the purchase
G
Make the payment for the
apartment
H
Purchase the apartment
14
12) Project Evaluation and Review Technique (PERT)
Activity
Task
Predecessor
#
Optimistic
Most
Pessimistic
Expected
Time (o)
Likely
Time (p)
Time
Time (m)
A
Decide the criteria
–
2
7
8
6.33
A
3
7
8
6.50
A, B
14
28
30
26.00
B, C
10
14
15
13.50
D
5
7
8
6.83
E
2
7
8
6.33
F
3
7
8
6.50
F, G
3
7
8
6.50
for choosing the
apartment
B
Meet with real
estate agents
C
View different
apartments
D
Select an
apartment
E
Transfer of
Money from
Saudi Arabia to
London
F
Prepare the
documentation for
the purchase
G
Make the payment
for the apartment
H
Purchase the
apartment
15
13) Critical Path Methodology (CPM)
The critical path in the network diagram has been highlighted in red. These steps cannot
be delayed so that the project is completed on time.
14) Project Gantt Chart
The Gantt Chart for the project is given below:
15) Costs Estimate Techniques
This project involves purchasing an apartment in London whereby the budget would
mainly consist of purchase price paid for the apartment. The tasks involved like meeting
16
with real estate agents, viewing apartments and transferring money from Saudi to London
would not require any huge expenses. The analogous method is used to produce the total
cost of the project which would include the house of the apartment.
16) Earned Value Management (EVM) to Monitor Progress
The cost of the project would be as follows:
Task
Decide the criteria for choosing the
Cost
£0
apartment
Meet with real estate agents
View different apartments
Select an apartment
Transfer of Money from Saudi Arabia to
£0
£500
£0
£500
London
Prepare the documentation for the purchase
Make the payment for the apartment
Purchase the apartment
Total
£500
£1,525,000
£0
£1,526,500
17) Cause and Effect Approach in Quality Management
The fishbone (cause/effect) diagram is used to identify the causes of a potential problem
which could be buying the house. The causes of this problem could be buying an old house;
buying a house in the wrong neighborhood; buying a house with a bad layout; and buying
an expensive house.
17
The reasons for buying an old house could be the design of the house, ignorance about
other houses in the market and a lower price of the house. Moreover, the apartment could
be chosen in a wrong neighborhood because of a low price of the apartment, ignorance
about other neighborhoods and no research done on the part of the project manager or the
real estate agent before buying the house. Furthermore, the apartment could have a bad
layout which can be because of viewing fewer options of apartments and making a choice
too quickly; not realizing the ideal layout required by the family; and not taking advice
from the family about the desired layout. In addition to this, the apartment could have a
higher price or a low value for money. The reasons for this could be choosing an apartment
in an upmarket location where apartments are overpriced; being impressed by the
furnishings in the apartment which causes the buyers to turn a blind eye to the price being
charged; and being impressed by the design and layout of the house.
18
18) Issue Progress Report
The progress report for the project is prepared on the assumption that the project manager
has viewed some apartments but has not finalized on any single apartment for purchase.
Project Title: Purchasing a Home in London
Start Date: September 1, 2017
End Date: November 30, 2017
Reference:
Project Manager: Mr. Ibrahim
Project Description:
The project requires purchasing an apartment in London. The apartment should be within the
budget of £1.5 million to £2 million.
Project Status:
? The criteria for the purchase of the apartment have been prepared by the project manager
in consultation with his father and his family.
? The project manager has also met with some real estate agents to discuss his criteria and
the kind of property he is looking for.
? The project manager has viewed some apartments already but has not chosen the
apartment that would be purchased.
Activities Performed During this Reporting Period:
?
The project manager has informed Mr. Ahmed about the apartments he has viewed.
?
He has fixed a meeting with Mr. Ahmed to show him some apartments in order to
finalize.
Activities for Next Reporting Period:
?
When an apartment is finalized then Ibrahims family would be asked for their opinion
before proceeding with the purchase of the apartment.
Issues/Resolutions:
?
The choice of the apartment can take longer than planned because the real estate
market in London is experiencing inflation due to the effects of Brexit.
19
?
The project manager and his family are looking for an apartment that would be value
for money.
Project Change Activity:
?
Based on the recommendations of the real estate agent the project manager is looking
for several apartments before making his choice in order to make an informed
decision.
Problems, Concerns and Recommendations:
?
Keeping in min…
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