The Portfolio Project provides the choice of selecting one of two options. Although the subject content varies depending on the option selected, each Portfolio Project option is comprised of three sections:
Section 1: Principle Components Discussion
Describe the project management standards and processes based on the Project Management Institute’s A Guide to the Project Management Body of Knowledge® (PMBOK® Guide) (6th ed.). This section should be approximately 3 pages and include a brief, yet, substantive synopsis for each of the following items:
- Project, Program, and Portfolio Management distinction
- Project Selection
- Project Charter
- Project Charter Template: Additionally, develop a basic, 1- to 3-page Project Charter template based on the PMBOK® Guide (6th ed.) that could be used for small-to-medium projects in a global organization. Include your Project Charter template as an appendix in your essay paper.
- Project Organization
- Project Planning
- Project Scheduling
- Project Estimating
- Monitoring and Control
- Project Closure
- Communication Management
- Risk Management
- Role of Information Technology.
The requirements for this section of the Portfolio Project are common for both Option 1
Section 2: Simulation Analysis
Summarize your performance in the project management simulation completed in Module 6 (
Project Management Simulation: Scope, Resources, Schedule V2 (Links to an external site.)
; Product #: 4700-HTM-ENG). This section should be approximately 2- to 3-pages and must include:
- Identification of three project management standards or practices applied during the simulation and their effect on your simulation outcomes.
- Delineation of three lessons learned from the project management simulation that can be applied to future management of projects.
- Recommendation for improving your simulation outcomes.
The subject content for Section 2 varies based on the Portfolio Project option selected:
- For Option 1, the project management simulation requires an analysis of your performance of the Simulation Scenario A.
Section 3: Case Study Analysis
Review and assess one of the two global project management case studies designated; then develop a 4- page recommendation for achieving the objectives set forth. As part of your recommendation, develop a high-level project management plan comprised of a statement of:
- work (SOW)
- a work breakdown structure (WBS)
- a project schedule or Gantt
- a communications plan
- a risk management plan
- a stakeholder management plan
- and other relevant project management plan details.
Additionally, based on project team performance and leadership traits exhibited in the designated case study, identify the primary attributes needed to be a successful leader in this scenario.
The case study for Section 3 varies depending on the Portfolio Project option selected:
- For Option 1, use the Honicker Corporation case study (Kerzner, 2017, pp. 753-755).
Properly organize your writing by including the following:
- Running header with designation of Portfolio Project option clearly designated.
- Cover page with designation of Portfolio Project option clearly designated.
- Paper title with designation of Portfolio Project option clearly designated.
- Introduction includes a descriptive overview of the Portfolio Project and a brief preface of your essay paper (one to three paragraphs).
- Main body thesis of your essay paper will be approximately 8 pages organized by APA style section level 1 headings for Section 1: Principle Components Discussion; Section 2: Simulation Scenario Analysis; and Section 3: Case Study Analysis. Additionally, include APA style section level 2 headings for bullet items or key elements within each main section.
- Conclusion—Present a recap of Main Body key points and summary of main emphasis without repeating verbatim and exclusive of new information.
- Reference page(s) listing any appropriate references cited.
- 1-page Project Charter template
- Captured screen image of confirmation page showing your total simulation score for the scenario performed.
Support your assignment with a minimum of eight scholarly references. The CSU-Global library is a good place to locate these sources, and the
Project Management Resources Guide (Links to an external site.)
is a great place to start. The written section should follow the
CSU-Global Guide to Writing and APA (Links to an external site.)
standards. Consult the
Sample Paper (Links to an external site.)
template for more information on how to organize the paper and review the rubric for specific grading criteria.
Running head: PROJECT MANAGEMENT SIMULATION 1
PROJECT MANAGEMENT SIMULATION 7
Project Management Simulation:
The project management simulation mostly talks about the project of senior project managers at Delphi printers & peripherals. There is need for the project manager to develop a newer and innovative printer that can would be efficient to be used by the customers. This project is very competitive as its very likely that there is also a competitive company which also has plans of designing the same project which means that there should be efficiency so as to attract more customers in the market as this means that the company needs to gain a competitive advantage over there competitors. This project on the other hand needs to be cost effective, good specification that would be reliable, and also needs to be completed in the smallest time possible (Fundin, et al. 2018).
The management needs to put more emphasis and also monitor the project manager as this would improve the progress and also keep the project team on toes. This can be best performed through scoring. The management main aim is determining if at all the product in question is very competitive and would be efficient for the company and also determine the accuracy of the project and if they can be able to obtain the projected score. For the project manager to obtain the projected score, he should be able to delivery this product on a timely basis as the schedule needs to be met together with the fact that weekly schedule needs to be met. Another scoring that would is very essential is determining if the project can achieve the specified budget that had been earlier allocated (Heagney, 2012).
This may pose a problem in its valuation as its sometimes difficult to obtain the same prices due to frequent variation in the prices of the different supplies. Another aspect that was measured was the ability of the project manager to maintain the employees’ morale which among others involves giving the employee’s humble time in the project duration and also eliminating any overtime as this would only lead to additional costs which would temper with the specified budget (Fundin, et al. 2018).
Intent of simulation
The main idea behind simulation is determining if the project manager can be able to complete the project within the specified duration, use the provided resources and coming up with the best product that would definitely achieve maximum customer satisfaction. This is also aimed at determining the chance of the project being completed with limited complication arising as much as this cannot be fully avoided as they can arise at any time of the project duration. This project can be a determinant if the project manager can still be given other projects to handle which means that it would be very important for the project manager to take into consideration the actions that he may take as this may be a determinant in the future projects (Heagney, 2012).
As a project manager, it’s important to fulfill the wishes of the management regarding the company at large as this would impact on the public company image as this would affect proportionately the number of customers that the company would have and also the future potential customers that would likely be interested in joining the company. This is so as the customers are majorly interested in the level of satisfaction they get as the level of reliability matters a lot when it comes to serving customers (Fundin, et al. 2018).
Lesson and practices applied in Simulation
As a project manager, there are many chances of having different expectation and experiences when it comes to a certain project. There are several lessons that can be learnt from this project which can be very helpful in future projects and this includes flexibility, determining the kind of products that should be chosen from, appreciation of the members, and well management of the availed resources. Flexibility being an important aspect in any project is this shows the ability to any upcoming changes in a project. This can be seen from the use of the top to bottom method in evaluating whether the allocated time was perfect. In the event when the project manage realized that he had 20 weeks he switched to bottom-up method. This breakdown according to valuation was easier and detailed which made the breakdown of the structure to be very simple and which can be managed with ease (Kerzner, 2017).
Another lesson very beneficial was determining the product which are supposed to be chosen. Having been given several options from which to choose from, the project manager had to determine which of the items to use taking into consideration cost efficient of each of the options and which would at the same time meet the set managerial goals. Use of the scoring model made it even less costly and saved a lot of time. All this was helpful as the project manager found it easy to attain the set target by the management as this was at the same time scored according to the importance and finally came up with the best design which assimilated all the requirements needed (Heagney, 2012).
Appreciation of the team members is also a good thing that can be assimilated in other projects too. Employees raised their voice as they demanded a good working environment and there was a meeting which helped to determine the input that could be incorporated so as to make the environment better for them. They worked average duration in a week with some breaks which helped them to refresh themselves. This improved employee’s morale which made it possible to manage them (Kerzner, 2017).
Effective use of the available resources also is an important lesson. The project manager started off with less workers so as to put everything in place before commencing the project. This involved extensive outsourcing as the project manager increased the number of employees with time. To stay within budget, the project manager put into consideration the triple-constraint; cost, scope, and schedule while keeping the quality intact. The project manager incorporated triple constraint method which helped in keeping the workers within the boundaries to achieve targeted goals (Kerzner, 2017).
Simulation experience for a career as a project manager
The simulation gives a better experience in project management as this is exactly what occurs in the real world. Success of this simulation shows that one needs to have patience, flexibility, and should be hardworking. There is use of PMBOK guide standards project estimation methods, selection, work breakdown structure, project charter and others as all this are what entails successful projects. This means that one needs to know where to apply them is an important aspect. This simulation relates to a normal reals situation as being a project manager requires that one has to make different decisions which are likely to affect the success of the project both positively and or negatively (Heagney, 2012).
The project manager need to design and manufacture a product which would compete favorably in the market and the same time meet the management required goals. This project is aimed at determining is the project manager has the capability of managing the team members into attaining the specified goals in the organization. There are different PMBOK guide standards which have been incorporated in this practice such as the bottom-up method, work breakdown structure, quality, and triple constraints with lessons such as flexibility, knowing the type of product to be used and also managing the available resources. Finally this simulation experience can be very helpful if one may want to advance their carrier in project management which can also be effective when done severally as this would make it easier in correcting the mistakes and also preparing the project manager for a task at hand (Fundin, et al. 2018).
Fundin, Bergquist, Eriksson, & Gremyr. (2018). Challenges and propositions for research in quality management. International Journal of Production Economics, 199, 125-137.
Heagney, J. (2012). Fundamentals of project management. (4th ed. / Joseph Heagney.. ed., WorkSmart series). New York: American Management Association.
Kerzner, H. (2017). Project management: A systems approach to planning, scheduling, and controlling (12th ed.). Hoboken, NJ: John Wiley & Sons.