Assignment -
Overview: For the final project in the course, you will analyze the case study Value-Driven Project and Portfolio Management in the Pharmaceutical Industry and additional course resources to create a program performance report for a hypothetical organization. The completion of this assessment will allow you to demonstrate your knowledge of program-level management and your ability to develop key executive reporting following standard frameworks.
Please note that Phase 1, 2, 4, 5 will deal with one case study Value-Driven Project and Portfolio Management in the Pharmaceutical Industry while phase three will deal with a different case study : "Ariba Implementation at Med-X: Managing Earned Value"
Phase 1 -
You are expected to complete each section of the charter template. When you complete your final project program report, you will pull the information you need from your charter to complete your program report. For the project charter, specifically, the following critical elements must be addressed:
I. Discuss the project purpose and background. Here you will provide the organization's justification for taking on the project.
II. Identify the project's goals, objectives, and expectations. Be sure that your goals are measurable.
III. Discuss the end product or service to be supplied. Here you will discuss the scope of the end product or service and the business need that the project will address.
IV. Identify milestones/estimated deliverables. Note the relationship between the project deliverables and the project objectives. The deliverables should meet the objectives.
V. Discuss the success criteria. How will "success" be measured?
VI. Identify the high-level risks. How do the risks potentially impact the project?
VII. Identify the key stakeholders. What is the role of each stakeholder in the project?
VIII. Identify any assumptions, restrictions, and external dependencies. What are the assumptions on which decisions are being made?
IX. Identify any customer responsibilities. Will the customer be doing any tasks or contributing any resources to the project?
X. Complete a project category table allowing a high-level view of the project.
XI. Specify a high-level budget.
Phase 2 -
Prompt I: Thus far in the course, you have completed a case study overview and a project charter. In this milestone, you will develop a project scope statement using the template provided. A data set for this case study has also been provided for your benefit. Your project scope statement should include the following critical elements:
I. Introduction: A concise overview of the project.
II. Purpose and Justification: How does the project support business goals and objectives?
III. Scope Description: All known characteristics of the project's product or service.
IV. High-Level Requirements: All known requirements of the project's product or service.
V. Boundaries: What should and should not be included in the project?
VI. Strategy: Strategy to be used by the project team to manage the project.
VII. Acceptance Criteria: Criteria that must be met for the project to be considered "complete."
VIII. Constraints: Limitations due to time, budget, technology, or other resources.
IX. Assumptions: Assumptions under which all stakeholders are making decisions.
X. Cost Estimate: Estimate of funding needed to successfully complete the project.
XI. Cost/Benefit Analysis: Analysis of organizational costs versus organizational benefits.
Prompt II: Once you completed your scope statement, you will set up your project using MS Project software. As you do this, you will be creating a WBS. In your WBS, you will identify what tasks need to be developed and the relationship among the tasks. This WBS will be used in planning your project. There is no need to go any further than a Level 3 in creating your WBS. As part of the MS Project assignment, include project milestones and create relationships with all tasks with a start-to-finish dependency; create a project start time and document any assumptions you make in the task note field. If you choose to use it, a MS Project file has been created for your benefit. You can start with this and modify it as necessary, or you can create your own project using the software. As needed, use the following Atomic Learning tutorials to help you set up your project using MS Project software: Atomic Learning: Project 2016 Training OR Atomic Learning: Project 2013 Training Creating a Project B. Creating a Project (2013) or B. Set Up Your Project (2016) C. Working with Tasks (2013) or B. Tasks (2016) Your MS Project file should be a WBS that includes the following critical elements:
I. Project milestones
II. Relationship of tasks to one another
III. Notes in the task note field as necessary
Phase 3 -
Overview: Many project managers employ an earned value system to monitor their projects. In Project Management: The Managerial Process, Larson and Gray (2014) define the earned value of a project as "the percent complete times its original budget. Stated differently, EV is the percent of the original budget that has been earned by actual work completed" Earned value analysis determines if you are getting value for the work completed and the money spent during a specific time frame. Prompt: Analyze the case study Ariba Implementation at Med-X: Managing Earned Value (this case study can be located in your custom Textbook/Case Study bundle). Using earned value analysis, you will determine why the company's e-procurement implementation project is not going according to plan. Once a cause has been discovered, you will make a recommendation to fix the problem. Specifically, the following critical elements must be addressed:
Cost: Give an estimate of the cost of the project.
Time: Give an estimate regarding how long the project will take.
Cause: Based on your analysis, give an explanation as to why the company's project is not going according to plan. What is wrong with the project? Support your explanation with evidence from your analysis.
Recommendations: What action(s) do you recommend to address the cause of the problem? Support your recommendations with evidence from your analysis.
Application: How do you foresee using earned value metrics on your own projects currently or in the future?
Phase 4 -
Prompt I: Thus far in the course, you have completed a case study overview, a project charter, and a project scope statement. You have also set up your project using MS Project software. In this milestone, you will develop a resource management plan and update your project with this material using MS Project software. An Excel spreadsheet template has been provided for your use in creating a resource management plan. If you prefer a different format, you are free to use the format you prefer. You will determine what your resource management plan will need, but at a minimum it should include the following critical elements:
I. Provide a list of human resources required for the project.
II. Identify the specific skill set needed.
III. Describe the roles and key responsibilities for each job type.
IV. Provide a list of equipment items to be used.
V. Identify the purpose of each equipment item.
VI. Identify the types and quantities of equipment needed.
VII. Provide a list of materials needed.
VIII. Identify people or resource constraints (dates of availability).
IX. Identify the specific planning dates when resources are needed.
Prompt II: Once you have completed your resource management plan, you will use this resource plan to update your project using MS Project software. Using the file you created in Milestone Two, update your project to include the following critical elements:
I. Assign resources to tasks.
II. Create a project calendar.
III. Create calendars for each resource.
IV. Apply any of the constraints you identified in your resource plan.
V. Add to the task Notes field any additional or new information.
VI. Document any assumptions you made regarding resources and turn that in (as a Word document) with your assignment.
VII. Assign yourself as the project manager and assign your instructor as the project sponsor. This file, which is a combination of Milestones Two and Three, should be submitted as an MS Project (.mpp) file. Do not submit it as a .pdf. As needed, use the following Atomic Learning tutorials to help you set up your project using MS Project software: Atomic Learning: Project 2016 Training OR Atomic Learning: Project 2013 Training.
Phase 5 -
For the final project, create a program report based on the hypothetical organization highlighted within the case study Value-Driven Project and Portfolio Management in the Pharmaceutical Industry: Drug Discovery Versus Drug Development - Commonalities and Differences in Portfolio Management Practice. This report will concentrate on the organization's project hierarchy and management and the project data within the program of projects. Your report will ultimately show how the program of projects aligns with and benefits the organization's overall performance. Specifically, the following critical elements must be addressed:
I. Overview: Provide a concise overview of the organization in the given case study, including pertinent information about the organization's program of projects.
II. Project Hierarchy
A. Differentiate your project, program, and portfolio management. What are the differences and similarities of managing each level?
B. Compare the advantages and disadvantages of managing projects at program and portfolio levels. Provide detailed examples to support your claims.
C. Determine the most advantageous organizational structure for portfolio and program management to ensure organizational strategic goals are met. Provide detailed examples to support your claims.
III. Project Methodology
A. Identify the key advantages to the organization of having a project methodology.
B. Outline which components of project methodology are used at each stage of the program life cycle.
C. Recommend a project methodology for the organization that is consistent with the organizational design. Include a description of the methodology's approach and the key deliverables needed at each life stage of the program.
D. Explain potential challenges to implementing this project methodology for the organization. You should consider the advantages and disadvantages of the recommended methodology when determining potential challenges.
IV. Metrics and Measurements
A. Determine the common metrics used to measure the alignment of the program to the organization's strategic goals.
B. Explain where the metrics fit into the framework and dimensions of the balanced scorecard.
C. Create a balanced scorecard for a program of projects using a standard framework.
D. Explain the advantages and disadvantages of using a balanced scorecard within the organization highlighted in the case study.
E. Determine the key measurements necessary throughout the program life cycle (initiating, planning, executing, controlling, and closing.
F. Propose a method for capturing realized benefits within the organization to ensure the overall program strategy has been met.