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. Adopt System Approach to Analyze an Initiative
2. Select Business Initiative/Project Using Weighted Approach
3. Identify Project Stakeholders
4. Determine the Project’s Assumptions and Constraints
5. Develop the Business Case to Obtain Senior Management Support
6. Develop the Project Charter
7. Develop the Stakeholder Communication Matrix
8. Study the Relationship Using the Triple Constraint View
9. Develop Project Scope Statement
10. Develop the Work Breakdown Structure (WBS)
11. Develop the Responsibility Assignment Matrix (RAM)
12. Adopt the Program Evaluation and Review Technique (PERT)
13. Use the Critical Path Methodology (CPM)
14. Develop Project Gantt Chart
15. Compare the Costs Estimate Techniques
16. Apply the Earned Value Management (EVM) to Monitor Progress
17. Adopt the Cause and Effect Approach in Quality Management
18. Issue Progress Report
19. Identify Project Risks
20. Manage Risks (Risk Registers and Response Strategies)
21. Manage Project Change Request

Answer:

System Approach

It is found that for analyzing the initiative of the project from its initial stage, it is the responsibility of the project manager to hire experienced as well as right stakeholders of the project. The project managers must also engage in creating proper project schedule that not only elaborates the activities that are required to be performed within the project but also reflects on the budget that is needed in order to finish the project. In addition to this, the project must reflect the requirement of resources for each of the project activities so that depending on their ability and experience they are appointed within the project.

Business Initiative

 E-business can be helpful in driving the approach of buying property to much more advances that not only satisfy the customers bit also minimizes the time. With the help of help of e-business, an individual can get information about the property sellers and can select their right choice by not wasting much time.

Identify Project Stakeholders

 The stakeholders who are involved within the project are listed below:

• Project manager
• Broker
• Organizer
• Solicitor
• Contractor
• Project Planner

Assumptions and Constraints

Assumptions

The assumptions of the project are as follows:

• To complete the project within the time that is around 40 days
• To finish the project within the budget that is around $1,051,640
• To follow the scope of the project

Constraints

The constraints of the project are listed below:

Time: It is the responsibility of the project manager to manage the time of the project effectively for finishing the entire project within the expected time.

Budget: The project manager must finish the entire project within the budget that is approved.

Scope: The scope of the project must be followed properly for finishing the project effectively within the expected time and budget.

Business Case 

The paper mainly focuses on “buying a summer apartment in Big Ben, London”.  It is found that due to the absence of summer apartment, the family members face lot of problems and challenges in spending their summer holidays. In order to resolve the challenges, the family wants to buy an apartment in the area of Big Ben is so that they can relax and can enjoy their days of summer holidays properly.  

Develop the Project Charter 

Project description

The project reflects on buying a summer apartment in Big Ben area of London. A summer apartment is generally needed by the family so that the problems that they face in absence of a summer apartment got resolved and they will get the chance of enjoying their summer holidays with their family members. The project of buying an apartment will be completed within 40 days by utilizing budget of around $1,051,640.

Project deliverables

The deliverables of the project are as follows:

• Viewing apartment in London
• Valuation survey
• Property survey
• Building or structural survey
• Finalizing an offer
• Proper communication
• Conveyancing and searches
• Exchange of contracts
• Enquiries on the property
• Transfer of funds

High level project deliverables

The high-level deliverables of the project are as follows:

• Arranging a solicitor
• RICS condition report
• RICS homebuyer report
• Finalizing the mortgage
• Exchange of contracts
• Signing contracts
• Transfer of funds
• Setting mutually agreed completion date

Team members and roles

The team members and their roles are provided in the below table:

Team member	Roles	Mobile	E-mail	Signature
Project manager	The project manager manages the entire project.	NA	NA	William Watson
Broker	The broker engages in searching for the summer apartments.	NA	NA	James Anderson
Organizer	The organizer engages in organizing the paper works for the apartment.	NA	NA	James Anderson
Solicitor	They generally help in surveying valuation as well as property.	NA	NA	Andrew Lee
Contractor	The contractor engages in taking the contract for buying an apartment.	NA	NA	James smith
Project Planner	The project planner engages in making proper planning for the project.	NA	NA	Stephen smith

Stakeholder Communication Matrix

The stakeholder’s communication matrix is provided in the table below:

Purpose	Frequency	Responsible person	Ways of communication
To know about the value of the property	Once	Project manager	Video conference, face to face
To finalize the offer	Once	Contractor	Video conference, face to face
For exchanging the contracts	weekly	Contractor	Video conference, face to face
For organizing finances	Weekly	Organizer	Video conference, face to face

Triple Constraint View

The triple constraint view of the project is provided below:

Time:40 days

Scope: To buy summer apartment

Cost: $1,051,640.00

Project Scope Statement

Business Process

The paper reflects on buying an apartment in Big Ben, London for providing the facility of proper relaxation as well as enjoyment during the months of summer to the family members.

Project Goals

The main goal of the project is to buy a summer apartment in Big Ben area in London in order to can relax can enjoy the days of summer holidays properly.  

Project work statement

The project work statement reflects that the entire project will be completed within the time period of 40 days by utilizing budget of around $1,051,640. The work statement of the project also helps in elaborating the activities and deliverables of the project.

Deliverables

The deliverables of the project include:

• Viewing apartment in London
• Valuation survey
• Property survey
• Building or structural survey
• Finalizing an offer

Milestones

Milestone	Completion date
Milestone 1: Completion of initiation phase	Thu 02-08-18
Milestone 2: Solicitor arrangement phase completion	Wed 22-08-18
Milestone 3: Mortgage finalization completion	Fri 07-09-18
Milestone 4: Completion of closure phase	Mon 17-09-18

Constraints

  The constraints of the project include:

• Completion of the project within the expected time that is 40 days
• Buying the apartment within the budget that is around $1,051,640.

Work Breakdown Structure 

WBS level	WBS	Task Name	Duration	Responsible
0		Buying a summer apartment in London	40 days
1	1	Initiation phase	8 days
2	1.1	Developing plan	1 day	Project manager
2	1.2	Organizing finances	3 days	Organizer
2	1.3	Register with MylondonHome	1 day	Project planner
2	1.4	Search for property	1 day	Broker
2	1.5	Viewing apartment in London	1 day	Project manager
2	1.6	Putting forward an offer	1 day	Project planner
1	2	Arranging a solicitor	14 days
2	2.1	Valuation survey	2 days	Organizer
2	2.2	Property survey	2 days	Broker
2	2.3	RICS condition report	3 days	Contractor
2	2.4	RICS homebuyer report	2 days	Organizer
2	2.5	Building or structural survey	3 days	Contractor
2	2.6	Finalizing an offer	1 day	Project planner
2	2.7	Proper communication	1 day	Project manager
1	3	Finalizing the mortgage	12 days
2	3.1	Offer accepted	1 day	Contractor
2	3.2	Conveyancing and searches	2 days	Project planner
2	3.3	Exchange of contracts	1 day	Contractor
2	3.4	Enquiries on the property	2 days	Solicitor, Apartment cost [1]
2	3.5	Exchange of contracts	2 days	Project manager
2	3.6	Signing contracts	1 day	Project manager
2	3.7	Transfer of funds	2 days	Broker
2	3.8	Setting manually agreed completion date	1 day	Project manager
1	4	Closure phase	6 days
2	4.1	Remaining money owed	2 days	Organizer, Other cost [1]
2	4.2	Paying a mortgage account fee	2 days	Contractor
2	4.3	Paying solicitor bill	1 day	Solicitor
2	4.4	Completion	1 day	Project planner

Responsibility Assignment Matrix 

Responsibility assignment matrix (RACI) illustrates the participation of different roles in competing various tasks or deliverables of the project within the business process. RACI stands for:

R-Responsible

A-Accountable

C-Consult

I-Informed

Activities	Project manager	Broker	Organizer	Solicitor	Contractor	Project planner
Developing plan	R, A		I			C
Organizing finances	I		R, A			C
Register with MylondonHome	R, A		I			C
Search for property	I	R, A			C
Viewing apartment in London	I	R, A			C
Putting forward an offer	I	R, A			C
Valuation survey		C	R, A		I
Property survey		C	R, A		I
RICS condition report		C	R, A		I
RICS homebuyer report		C	R, A		I
Building or structural survey		C	R, A		I
Finalizing an offer	I	R, A			C	I
Proper communication	I		R, A			C
Offer accepted	I			R, A	C
Conveyancing and searches	I			R, A	C
Exchange of contracts	I			R, A	C
Enquiries on the property		R, A	C	I
Exchange of contracts		R, A	C	I
Signing contracts	I	R, A				C
Transfer of funds	I		R, A	C
Setting agreed completion date	I			R, A	C	I
Remaining money owed	I	R, A			C	I
Paying a mortgage account fee	I		R, A			C
Paying solicitor bill	I	R, A			C	I

 

 15. Costs Estimate Techniques

The most important cost estimate techniques are compared in the table below:

Analogous estimating	Parametric estimating	Three-point estimating	Bottom up estimating
This technique is generally used for estimating the cost of the project when very much less detail about the project is present	It generally utilizes historical data in order to calculate the cost but it generally utilizes statistical data.	This technique is generally utilized for reducing the biases as well as uncertainties in the cost estimation technique	This technique of estimation is considered to be very much accurate as well as time consuming.
It is considered as the fastest technique for estimating cost accurately	This is much more accurate than analogous estimation	It is more accurate than analogous and parametric techniques	This is the most accurate technique.

Earned Value Management

The progress of the project is identified with the help of the earned value management that is provided below:

Task Name	Planned Value - PV (BCWS)	Earned Value - EV (BCWP)	AC (ACWP)	SV	CV	EAC	BAC	VAC
Buying a summer apartment in London	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 1,051,640.00	$ 0.00	-$ 1,051,640.00
Initiation phase	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 2,360.00	$ 0.00	-$ 2,360.00
Developing plan	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Organizing finances	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 840.00	$ 0.00	-$ 840.00
Register with MylondonHome	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Search for property	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 240.00	$ 0.00	-$ 240.00
Viewing apartment in London	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Putting forward an offer	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Arranging a solicitor	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 3,920.00	$ 0.00	-$ 3,920.00
Valuation survey	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 560.00	$ 0.00	-$ 560.00
Property survey	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 480.00	$ 0.00	-$ 480.00
RICS condition report	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 840.00	$ 0.00	-$ 840.00
RICS homebuyer report	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 560.00	$ 0.00	-$ 560.00
Building or structural survey	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 840.00	$ 0.00	-$ 840.00
Finalizing an offer	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Proper communication	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Finalizing the mortgage	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 1,003,600.00	$ 0.00	-$ 1,003,600.00
Offer accepted	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 280.00	$ 0.00	-$ 280.00
Conveyancing and searches	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 640.00	$ 0.00	-$ 640.00
Exchange of contracts	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 280.00	$ 0.00	-$ 280.00
Enquiries on the property	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 1,000,640.00	$ 0.00	-$ 1,000,640.00
Exchange of contracts	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 640.00	$ 0.00	-$ 640.00
Signing contracts	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Transfer of funds	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 480.00	$ 0.00	-$ 480.00
Setting mutually agreed completion date	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Closure phase	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 41,760.00	$ 0.00	-$ 41,760.00
Remaining money owed	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 40,560.00	$ 0.00	-$ 40,560.00
Paying a mortgage account fee	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 560.00	$ 0.00	-$ 560.00
Paying solicitor bill	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00
Completion	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 0.00	$ 320.00	$ 0.00	-$ 320.00

Quality Management 

Case and Effect approach is considered as one of the tool that is mainly utilized by the project managers in order to improve the project quality. The critical steps that are generally required to be carried out in the project activities helps in defining the cause. It is identified that a fish bone diagram is generally represented for the project “buying a summer apartment in London. The cause and effects of the project is reflected 

Issue Progress Report

The report helps in elaborating the progress for buying a summer apartment in London. For this project, four phases are generally undertaken which are initiation, solicitor arrangement phase, finalizing mortgage phase as well as closure phase.

Initiation phase: In this phase, finances are organized and proper initiation for property search started.

Solicitor arrangement phase: In this phase, proper arrangement for the solicitor is made

Mortgage finalize: In this phase, mortgage of the apartment is finalized.

 Closure phase: In this phase, money to mortgage account is paid.

Project Risks

The risks that are associated with the project are listed below:

Finding wrong broker: If the broker is not right then the project manager can face financial challenges.

 Inappropriate survey: Due to inappropriate survey, the project manager does not get proper idea about the value of the apartment.

Lack of knowledge: Due to lack of knowledge the owner can face lot of challenges including financial issue.

Inappropriate document verification: The documents of the owner are not verified properly and as a result legal issue can arise.

Manage Risks 

The risks that are associated with the project can be managed with the help of the steps that are elaborated in the table below:

Risk	Impact	Probability	Mitigation
Finding wrong broker	High	High	Right broker must be identified.
Inappropriate survey	High	Medium	Proper survey needs to be conducted in order to resolve the issue.
Lack of knowledge	Medium	Medium	Proper knowledge about the apartment needs to gained before buying.
Inappropriate document verification	High	High	All the documents must be properly verified.

21. Manage Project Change Request 

   The changes that is needed in the project is that the project manager does not want s to contact a broker and wants to buy the apartment with the help of online procedure so that the challenges that is present in finding the right broker got resolved.

Issue Lesson Learned Report 

From this project, it is analyzed that before buying a property we need to gain proper knowledge about it. It is also necessary to undertake the survey properly for getting appropriate information about the value of the property. In addition to this, proper document verification is important for the project.

Issue Project Closure Report

The project manager engages in reviewing the project closure report.
Documents	Roles
Feasibility report	To analyze that the project is feasible
Status report	To focus on the progress of the project
Final document	It reflects that the project is completed successfully.

 

 

Stakeholder’s signoff:

Position	Signoff (Signatures)
Project manager	William Watson
Broker	James Anderson
Organizer	James Anderson
Solicitor	Andrew Lee
Contractor	James smith
Project Planner	Stephen smith

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