Business Plan On Project Time Management

Published: 2021-06-22 00:31:45
essay essay

Category: Workplace, Experience, Management, Company, Banking, Customers

Type of paper: Essay

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The name of our organization is Fully Intergraded Network System (FINS), which unites a group of IT contractors. The work is based on bidding for projects that require IT support in all the possible aspects of the network systems to hardware and software. The company has experience of over 30 years, and within this time it managed to earn excellent reputation and today it is a leader in its sphere. Currently there are more than 200 employees working in the company, all of them having at least college level of education, certificates necessary for the occupied positions and relevant work experience./>
The project that is going to be described here is the one company received from one of the biggest banks in Texas – Chase Bank. The main project goal is the following:
Meet the deadline of the project, which is especially important if we take into account the fact that it is a sense of responsibility, not just a date of project destination. The objectives resulting from this goal are the following: establish proper coordination between all the company’s workers involved in the project; implement effective time management practices; control the work completion schedule.
Keeping good relations between the project manager, end user client, while staying in close contact with clients. To do it the following objective can be defined: provide daily updates to the clients within the period of project realization; ensuring that the daily problems are addressed in a timely manner; timely guidance is provided to the team.
The project presupposes a large scope of activity, because the new system has to be agreed upon by different levels of management. It involves close cooperation between different departments, as well as training of a large group of people. In order to accomplish all the defined objectives, it is necessary to establish good interrelations in the project team and manage time and resources adequately.
The scope of the bank’s activity is vast and covers the state of Texas, as well as other states. Among the clients of the bank there are large companies that ill need certain system adjustments to their specific needs, the possibility for which will also be provided by the FINS Company. Thus, it is clear that the scope of the project requires accurate work from all the levels of management and developers.
Budgetary Limitations
Budgetary limitation is team control of the budget for the project. The process of procurement is often part of a company's strategy because the ability to purchase certain materials will determine if operations will continue. A business will not be able to survive if its price of procurement is more than the profit it makes on selling the actual product. The procurement involves purchase planning, standards determination, and specifications development. For example, the team must inquire about the price and be able to negotiate with other businesses. In addition, the inventory control is also important because having the knowledge of supplies helps limit the budget.
According to the bid price, the project will cost $400,000 for the bank, which is not too high a price for this kind of work. Still, this sum was agreed upon by the FINS management, because a large part of improvements needed in the current banking system has already been developed in the company’s practice, which is why there is a possibility to save resources and time in these parts. Resources will be used for paying for the employees’ work and for saving a certain sum of money for the future. The budget expenditures will be planned based on the previous company experience and the conditions of this particular project,
Project team will involve 25 developers from our company. Their work will be managed by 5 managers and 1 chief executive manager that will hold meetings every week to coordinate the work of the subdivisions. The bank executives will communicate with the chief manager and managers of the subdivisions on the matters considering the project development and implementation. Stakeholders and sponsors will receive reports once every two weeks, as it had been agreed with them. Meetings will be held every 6 weeks to show the progress in the project completion.
It is very important to coordinate the project properly, as it has multiple levels of responsibility and work of subdivisions is dependent on this coordination. There are many tasks that are interconnected, which means that on the amount of delays and problems arising in the course of work the speed of the project realization depends, as well as the resulting success.
Approach
As a result of the project completion, the client wants to receive a modern, fast and convenient system that would allow its users to perform all the necessary transactions, and allow the bank’s workers to administer the program without additional effort (Phillips, 2010). Besides, the current version of the program has showed a lot of problems and mistakes in its work, which caused financial losses. This is why the bank decided to improve the current system, investing in its modernization so as to save money, maintain image of a modern company and enhance users’ experience from working in it.
Moreover, the new program will involve a version for the mobile devices, which makes the bank even more up-to-date and progressive. More and more people need performing transactions from different places, and the current level of mobile technologies development allow users to complete everything they want on cell phones and other devices. This is why every company that wants to keep its customers and enlarge audience has to create a mobile version of its online product so as it were convenient for the users to use the services whenever and wherever they want.
Clients choose the FINS company because of the advantages it offers to them: quick completion of orders; professional team of developers; advanced support of the clients; custom setting of the required solutions; client’s wish valued above all. Owing to the long company’s experience it has a lot of return customers, as well as vast experience and a set of materials that allows for completion of various orders in a timely and precise manner.
Work of the company’s employees is properly coordinated by a team of qualified managers, who pay proper attention to the issues of motivation and creation of facilitating and encouraging atmosphere (Schwalbe, 2010). Owing to this, the team of the company works in a coordinated fashion and employees rarely decide to change their place of work in favor of the competitive firms.
IT specialists in the company decided to make use of the inventory and materials they have already made in the past so as to save money and time. All the other activities needed to be accomplished to reach the goal will be divided among the 5 subdivisions and their completion will be controlled by the appointed managers. At coordination meetings all the questions that will be arising will be solved and all the issues discussed (Bainey, 2004).
References
Bainey, K. R. (2004). Integrated It Project Management: A Model-Centric Approach. Norwood: Artech House.
Phillips, J. (2010). IT Project Management: On Track from Start to Finish. New Jersey: McGraw Hill Professional.
Schwalbe, K. (2010). Information Technology: Project Management. New York: Cengage Learning.

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