BUS 375- Project Management
In this assignment, a summary will be provided along with three project goals and objectives of the chosen project. The key customer (s) and two stakeholders will be identified along with descriptions of three key milestones and a high-level timeline with tasks and deadlines included. This paper will consist of the estimated overall cost of the project with key staffing and non-staffing resources needed for the project’s success. Lastly, the greatest challenge of the project will be examined and recommendation for addressing the challenge will be provided.
I have chosen to build a recording studio for my nine-year-old grandson, Zickai Fields. This studio will be a standalone facility, the size of a large shed and will be made in my backyard. The studio should take only seven (7) months to complete with training included within the timeframe. The recording studio will be used to record beats, tracks, samples, and records/albums that my grandson produces.
I have decided to do this project for my grandson to enable his gift and calling. He is very gifted in music, has written over ten songs and has taught his self how to play multiple instruments. He also has a photogenic memory and special audible abilities. He can hear a song and immediately pay it back. The purpose of this project is to enable my grandson’s talents of music, allow Zickai the freedom to create and record at leisure and to generate income.
Describe at least three (3) project goals and three (3) project objectives.
For a project to be successful, the first steps would be to define, goals and objectives of the project. . Three goals of the recording studio project are to stay within or below budget, build a studio that is sufficient, relative and has the capacity of innovation for the next decade and to complete the project within the timeframe projected. These goals will be fulfilled by accomplishing the three objectives of using all planning processes and documents accordingly such as the WBS (work breakdown structure) and the Communication Matrix. Conducting weekly meetings with stakeholders and staff is an object that will keep expectations and communication current while addressing any problems as they appear. The sessions will assist with staying on top of cost and pricing of all work being performed and items purchased. The third objective would be to keep all planning documents updated or revised to ensure deliverables are completed according to the schedule.
Identify the key customer(s) and at least two (2) stakeholders for your project. Remember, you are delivering the project to your customer(s); however, there are others (stakeholders) who have a vested interest in your project.
The Key customers of the recording studio are Zickai D. Fields, my grandson and recording artists who will utilize his skills, talents, and abilities. Stakeholders of this project are me, and husband, who is the investor, owners; Zickai the operator, owner; along with Zickai’s parents. Zickai’s parents have a vested interest as well because they want him to be successful and can also benefit. The hired staff such as engineers and contractors are indirect stakeholders because they would want to use this project as a reference for potential future business.
Describe at least three (3) key milestones and deliverables for your project.
Milestones according to the book, Project Management: The managerial process, milestones are “significant events in a project that occurs at a point in time. The milestone schedule shows only major segments of work. The milestone is built using the deliverables as a platform to identify major segments of work and end date” (Gray & Larson, 2014). Three milestones and/or deliverables for the project is: 1. obtaining a design from the architect small enough yet efficient to house all necessary equipment, 2. receiving approval from the HOA (Homeowners Association) in a timely manner, and 3. to get a contractor that can build with quality within the budgeted price on schedule.
Describe a high-level timeline that includes key tasks and deadlines.
A high-level timeline that includes key tasks and deadlines for my project is the actual build out and construction of the studio. If this task is not done within the timeline, it will hold up the painting, carpet laying, installation of furniture and equipment. If all of these tasks are delayed, the testing, training and ultimately opening date of the studio will be affected.
Estimate the project’s overall cost and any key staffing and non-staffing resources needed.
The ideal overall cost of the recording studio project is sixty-five thousand dollars ($65,000). Key staffing is the building contractors and engineers. The key staffing cost estimation is at forty-two thousand dollars ($42,000) and the non-staffing resources needed such as furniture, equipment, carpet, sound and recording equipment is at twenty-three thousand dollars ($23,000).
Ensuring that the cost estimates are precise is essential for any project. Because my project is a detailed project. I will use what the book, Project Management: The managerial process, by authors Gray and Larson, speaks about regarding detailed project work package estimates. According to the authors, “detailed project work estimates are aggregated and rolled up by deliverable to estimate the total direct cost of the project. To compensate for the problem of actual costs and schedule exceeding estimates, some project managers adjust cost by using a multiplier of cost times twenty-percent (20%) or up to one-hundred percent (100%)”. I will use the formula provided which is my overall cost estimate times 1.20 which is 65,000 X 1.20 = 78,000. With that, I know to have at least seventy-eight thousand dollars ($78,000) allotted for this project (Gray & Larson, 2014).
Examine your project’s greatest challenge and provide a recommendation for addressing the challenge in question
The greatest challenge of the project is obtaining approval from the HOA (homeowners association). The HOA can be strict on some projects so I chose to build the size of a large storage shed. Within our sub-division or neighborhood, as homeowners, we can have storage sheds in our backyards. Therefore, this edifice will not be an odd structure.
In closing, using all the project management tools of planning for my project which is described in the proposal within this essay has afforded me with the confidence and assurance that the recording studio project will be completed on-time with my ideal cost and successful.
Goetz, R. (2010, January 10). Defining Goals and Objectives. Retrieved from Project Smart: https://www.projectsmart.co.uk/defining-project-goals-and-objectives.php
Gray, C. F. & Larson, E. W. (2014). Project Management: The Managerial Process (Sixth Edition ed.). New York: McGraw-Hill Education.