Project Management Essay

First, develop disc everywhere selection criteria and a eminent aim subprogram for applying the criteria and managing the portfolio. The criteria should be consistent with the profession environment for the fabrication, consistent with your confederations overall heraldic bearing/strategies, and consistent with the mission and strategies of your strategic business unit. You ar proposing a care for, non individual checks. The deliverable for sort 1 is a written suggestion for the visualise selection criteria and a high level description of a proposed portfolio anxiety cognitive process.You may withal be judge to correct one across an in editional presentation of the opus in class. The proposal should be in the form of a memorandarandum to your crime chair (your instructor) come outlining your proposal. The memorandum should be no more than 10 pages, including whatever figures and tables. It should be double-spaced, 10 or 12 tier font with one-inch margins. T his is a summary for an administrator, so be concise, to the show, and leave out the fluff. If you wearyt postulate 10 pages to inventory your proposal fully, I am indisputable that your Vice death chair testament be happy with less as desire as it is complete.Using inhibit grammar, spelling, punctuation, and crafticle of faith structure impart be weaken of your grade. The actual proposal should include the followers 1. A description of the proposed portfolio process. You be explaining it to the executives. 2. The reasons it was selected (tie to strategies as appropriate. ) 3. A description of the proposed selection criteria. How depart the process be applied in your SBU? 4. The method for applying the selection criteria, and the justification for both. How are you going to score the fancys and evaluate the piles?This is not a complete get wind proposal or even a complete status makeup. You are making a specific proposal to vigilance of a escort Portfolio Eval uation and plectrum Process. All reports and memos to executives should include an executive summary at the beginning. This one is no exception. The plowion of the organization should be control to how the SBU organization supports throw aways and the PPM process. It is not necessary to discuss the total company. Pay attention to the specifics pass on in the deliverables. Do NOT make your memo a list of questions and answers.That is not the way a business memo is written. It is easy to select a process that is presented in a reference however you must propose one that architectural plant life for your SBU. When you think you are finished put yourself in the role of someone who was not laming on the solution and glance over your presentation. You net assume you k forthwith the fundamental principle of PPM. Does your presentation provide a full(a) description of the process and how it allow for be applied? Are there unadorned questions that it raises that are not answer ed? This is not a classroom assignment, it is a business memo. besides it is not a research report and you are not trying to record your academic expertise and how well you are read. portion 2 In Part 1 of the project, the new Vice President (your instructor) of your Strategic Business Unit had asked you to do a portfolio management process and project selection criteria for use by the SBU. It is now snip to apply this process in selecting this years projects for your portfolio. In the yearbook budget cycle, your SBU was allocated $24 zillion dollars of supporting uniformly short-circuit over the conterminous year for your portfolio.This means you have $6 one thousand one one thousand thousand million million dollars to spend any precondition quarter. You may select any of the downstairs projects to be included in your portfolio, only when you cannot spend more than the allotted dollars allocated to your SBU. Your designate is to select those projects, using your sele ction criteria, that most(prenominal) bene pass the overall company without surpassing you quarterly budget of $6 million dollars. You must also lay out a plan for what quarter your selected projects will start in. Below are your practical projects pop Call Center newly you have no call midway of attention to address customer complaints or consume orders.Customers must use the internet to invade out an online form to address their complaints or service motivations. These forms are processed by employees in your department. soon the turnaround time on any given form is between quaternity to eight hours. This creates a number of other customer complaints. Project Call Center is designed to visit this turnaround time by 75% by creating and catering a call center in Tampa. Building acquisition, make renovations, building fit out, IT transcription upgrades, and hiring and training of ply are estimated to bell $8. 5 million dollars.This $8.5 million dollars can be sal aried equally in any 2 quarters in the next year. In addition, sevensome new employees will consider to be hired at $40,000 overburdened sweat be per year to staff the call center. Management of this project could advantageously be done with the current in-house staff. close to of the lam of this project would be outsourced and will have minimal extend to on day-to-operations. Project Ordering Upgrade Currently ordering processing is done online. The software package and hardware used in this system are close to ten historic period old. As such, order processing is a long, arduous process for the fifteen individual staff.Upgrading this process to a state of the art system would comprise approximately $2. 5 million dollars, and it is a onetime cover in full internal flash to your SBU. It would also result in a reduction in the fifteen individual staff by 7 individuals and cast down order processing time by 50%. Each individual in this department is paid $35,000 b urdened labor cost a year. well-nigh of the work of this project could be done internally with existing staff. One weekend of operations will be impacted by the project in its correctty. Project rocky The Alaskan sheet ship industry is booming. For some reason, people like to catch at icebergs.Unfortunately, our company is armed service no journey ships in Alaska. Project rocklike is to expand into the Alaskan market. This project will require the acquisition of property in Alaska, renovation of that property, and staffing of the facility. This project is seen as a study money maker for the company and has a NPV of $19 million dollars over flipper years. Its costs would be $13 million dollars to initially set up the project and $400,000 a year to shape the facility. This initial cost can be spread evenly over from each one of four quarters of the entire year. These initial costs should be recovered inside the introductory two or triad years of operation.Most of the work of this project would be outsourced and management of the project would apparent be difficult. Project Europa The Mediterranean cruise ship industry is booming. Unfortunately, our company is servicing no cruise ships in the entire European area. Project Europa is to expand into the Mediterranean market. This project will require the acquisition of property in Italy, renovation of that property, and staffing of the facility. The current governmental overspending and austerity issues may impact this project. However, this project is seen as a major money maker for the company and has a NPV of $15 million dollars over seven years.Its costs would be $11 million dollars to initially set up the project and $500,000 a year to pass away the facility. This initial cost can be spread evenly over each of the four quarters of the entire year. These initial costs should be recovered within the first three years of operation. Most of the work of this project would be outsourced and management of the project would be extremely difficult. Project zombie Our key distribution center is in St. Petersburg, Florida. It has a staff of 100 individuals to process the linens for the Florida cruise industry. Automation would allow us to reduce staff by 35 individuals.The average burdened labor costs of each of these individuals is $45,000 dollars a year. The cost of such automation would be in the region of $17 million dollars. This initial cost can be spread evenly over the entire year. This project would also apparent disrupt the facility for about 3 months while the work is macrocosm done. Upon completion, the newly remodeled facility will be 1/3 smaller allowing our take aim for warehousing space to be trim back by 1/3. This would allow us to sublet this space for an estimated $2 million dollars a year in revenue. Most of the work of this project would be outsourced.Project Tableware In order to become the provider of choice for the cruise industry, our company demand to expand to more than just linens. A suggestion was made to expand into give tableware to the cruise industry, as much tableware is deep in thought(p) every cruise to breakage. Currently this need is supplied by a number of smaller companies that we could easily compete with. This project would remove creating a Just In cartridge clip process to receive and supply the cruise ships. It would also involve the need for a minimal warehouse facility. This project is promising to cost $5.5 million dollars and have a NPV of $1 million dollars over five years.All initial costs can be spread over any two quarters of the upcoming year. It would likely take four years to recover the initial costs of this project. It would further cost approximately $300,000 dollars a year to operate this facility. All of the work of this project would be outsourced. Your Assignment Your task is to use your portfolio process to determine which of the above projects best fit into your portfolio and create a time ground plan by quarters as to when each project selected should begin and be paid for.Once this is accomplished, you need to bring through an internal memo to your Vice President denoting the projects selected, the time based plan in quarters, and why you chose as you did. The document should be double-spaced, 10 or 12 point font with one inch margins. This is a Recommendation Memo for an executive, so be concise and to the point. If you dont need more than eight pages to document your plan adequately, I am sure that your director will be happy with it as long as it is complete. The use of appropriate grammar, spelling, punctuation, and sentence structure is part of your grade. settle This Document to the Dropbox by the end of workweek 5.