Reference no: EM133335084

Team Project

Project Title: Smart-0-Earrings

This is what needs to be done about this project
1. Project Charter
2. Stakeholder analysis
3. Stakeholder register
4. Project Requirements
5. Scope Statement
6. Work Breakdown Structure (WBS)
7. . WBS Dictionary (for one work package only)
8. Requirements Traceability Matrix

In Part 1 of your project, it is required that your project develops a project charter. Following is a description of the project charter, and why it is important in managing projects. Additional information can be found in the course text, lectures notes, and internet
sources.

Project Charter-Overview

The project charter is the document issued by the project initiator or sponsor that formally authorizes the existence of a project and provides the project manager with the authority to applyorganizational resources to project activities.

The key benefit of this document is a well-defined project start and project boundaries (in-scopeand out-of-scope), creation of a formal record of the project, and a direct way for seniormanagement to formally accept and commit to the project.

The project charter should be written by the sponsoring entity. Although the project management team may help write the project charter, this standard assumes that the business case assessment, approval, and funding are handled externally to the project boundaries.

The project charter is an output of the "4.1 Develop Project Charter" process that is part of theInitiating Process Group. This process group consists of those processes performed to initiate anew project or a new phase of an existing project by obtaining authorization to start the project orphase.

During project initiation, the initial project scope is defined and initial financial resources are committed and internal and external stakeholders who will interact and influence the overall outcome of the project are identified. This information is captured in the project charter and stakeholder register. When the project charter is approved, the project becomes officially authorized.

It is recommended that the project manager participate in the development of the project charterto obtain a foundational understanding of the project requirements. This understanding willbetter allow for efficient resources allocation to project activities. If this is not possible, a projectmanager should be identified and assigned as early in the project as is feasible, and always prior tothe start of planning.

A project charter is not considered to be a contract, because there is no consideration or moneypromised or exchanged in its creation.

The project charter documents the business needs, assumptions, constraints, the understandingof the customer's needs and high-level requirements, and the new product, service, or result that it is intended to satisfy, such as:
- Project purpose
- Project justification,
- Project objectives and related success criteria,
- High-level requirements,

Part 1 - Project Stakeholder Register- Overview and Template

In Part 1 of your team project, it is required that your project team identifies the project stakeholders, analyses them and develops the stakeholder register based on the Power/interest grid analysis method.

Your team must produce:
1. Stakeholder analysis based on the Power/interest grid analysis method.
2. Stakeholder register

Following is an overview of these topics, and why stakeholder identification and analysis are important in managing projects. Additional information can be found in the course text, lectures notes, and internet sources.

Project Stakeholders
A stakeholder is an individual, group, or organization who may affect, be affected by, or perceive itself to be affected by a decision, activity, or outcome of a project. Stakeholders may be actively involved in the project or have interests that may be positively or negatively affected by the performance or completion of the project. Different stakeholders may have competing expectations that might create conflicts within the project. Stakeholders may also exert influence over the project, its deliverables, and the project team in order to achieve a set of outcomes that satisfy strategic business objectives or other needs.

Stakeholders include all members of the project team as well as all interested entities that are internal or external to the organization. The project team identifies internal and external, positive and negative, and performing and advising stakeholders in order to determine the project requirements and the expectations of all parties involved. The project manager should manage the influences of these various stakeholders in relation to the project requirements to ensure a successful outcome.

Stakeholders have varying levels of responsibility and authority when participating on a project. This level can change over the course of the project's life cycle. Their involvement may range from occasional contributions in surveys and focus groups to full project sponsorship which includes providing financial, political, or other support.

Some stakeholders may also detract from the success of the project, either passively or actively. These stakeholders require the project manager's attention throughout the project's life cycle, as well as planning to address any issues they may raise.

Stakeholder identification is a continuous process throughout the entire project life cycle. Identifying stakeholders, understanding their relative degree of influence on a project, and balancing their demands, needs, and expectations are critical to the success of the project. Failure to do so can lead to delays, cost increases, unexpected issues, and other negative consequences including project cancellation.

Involving stakeholders throughout the project creates a shared understanding of success criteria, reduces the overhead of involvement, and generally improves deliverable acceptance, customer satisfaction, and other stakeholder satisfaction.

It is critical for project success to identify the stakeholders early in the project or phase and to analyze their levels of interest, their individual expectations, as well as their importance and influence. This initial assessment should be reviewed and updated regularly. Most projects will have a diverse number of stakeholders depending on their size, type, and complexity. While the project manager's time is limited and should be used as efficiently as possible, these stakeholders should be classified according to their interest, influence, and involvement in the project, taking into consideration the fact that the affect or influence of a stakeholder may not occur or become evident until later stages in the project or phase. This enables the project manager to focus on the relationships necessary to ensure the success of the project.

Stakeholder Analysis
Stakeholder analysis is a technique of systematically gathering and analyzing quantitative and qualitative information to determine whose interests should be taken into account throughout the project. It identifies the interests, expectations, and influence of the stakeholders and relates them to the purpose of the project.

Stakeholder analysis generally follows the steps described below:
• Identify all potential project stakeholders and relevant information, such as their roles, departments, interests, knowledge, expectations, and influence levels.
• Analyze the potential impact or support each stakeholder could generate, and classify them so as to define an approach strategy.
• Assess how key stakeholders are likely to react or respond in various situations, in order to plan how to influence them to enhance their support and mitigate potential negative impacts.

There is multiple classification models used for stakeholders analysis, such as:
• Power/interest grid, grouping the stakeholders based on their level of authority ("power") and their level or concern ("interest") regarding the project outcomes;
• Power/influence grid, grouping the stakeholders based on their level of authority ("power") and their active involvement ("influence") in the project;
• Influence/impact grid, grouping the stakeholders based on their active involvement "influence") in the project and their ability to effect changes to the project's planning or execution ("impact"); and
• Salience model, describing classes of stakeholders based on their power (ability to impose their will), urgency (need for immediate attention), and legitimacy (their involvement is appropriate).

The engagement level of the stakeholders can be classified as follows:
• Unaware. Unaware of project and potential impacts.
• Resistant. Aware of project and potential impacts and resistant to change.
• Neutral. Aware of project yet neither supportive nor resistant.
• Supportive. Aware of project and potential impacts and supportive to change.
• Leading. Aware of project and potential impacts and actively engaged in ensuring the project is a success.

Part 2 Planning for Scope: Overview and Templates

Project Scope Management is the collection of processes which ensure that the project includes all the work required to complete the project while excluding all work which is not necessary to complete the project.

Your team must develop the following as part of your project:
1. Project Requirements
2. Scope Statement
3. Work Breakdown Structure (WBS)
4. WBS Dictionary (for one work package only), and
5. Requirements Traceability Matrix

Following provides an overview and templates on the above five topics. Additional information can be found in the course text, lectures notes, PMI web site and internet sources.

1. Project Requirements (Collect Requirements process)
This first step is the process that defines and documents the requirements needed to meet all project objectives. The project requirements include both the:
• Product requirements (product is what the project produces) , and
• Project management requirements (this is how the project is managed to produce the product)
Collecting requirements relays on the project charter and stakeholder register. From these documents, the team can:
• identify requirements by engaging all project stakeholders,
• collectively discuss details associated with meeting each requirement,
• conduct interviews and follow up discussions to clarify the requirements, and
• document the requirements in sufficient detail to be able measure them once the project begins the execution phase.

This documentation also serves as an input to the next step in the process which is to define scope.

2. Scope Statement (Define Scope process)
This step is critical to project success as it requires the development of a detailed project/product description to include deliverables, assumptions, and constraints and establishes the framework within which project work must be performed.
The scope statement can only be finalized after the project requirements have been identified and defined during the requirements definition process.

3. Work breakdown Structure (Create WBS process)
This process breaks down the project deliverables identified in the project scope statement into progressively smaller and more manageable deliverables which, at the lowest level, are called work packages.

The WBS hierarchical structure allows for more simplicity in scheduling, costing, monitoring, and controlling the project.

As part of creating the WBS, the project team also develops the:
• WBS Dictionary, and the
• Requirements Traceability Matrix

WBS Dictionary
The WBS dictionary is a document that provides detailed deliverable, activity, and scheduling information about each component in the WBS. It contain the following information:

• Description of work
• Code of account identifier,
• Assumptions and constraints,
• Responsible organization,
• Schedule milestones,
• Associated schedule activities,
• Resources required,
• Cost estimates,
• Quality requirements,
• Acceptance criteria,
• Technical references, and
• Agreement information

As you can conclude, the WBS dictionary is not finalized until all the project planning activities are completed.

Requirements Traceability Matrix
The requirements traceability matrix is a grid that links product requirements from their origin to the project deliverables that satisfy them. Thus, it "traces" the deliverables by establishing a thread for each requirement from the project's initiation to the final implementation.

The matrix should be created at the very beginning of a project because it forms the basis of the project's scope and incorporates the specific requirements and deliverables that will be produced by the project.