Benefits Realization Management Influence -Myassignmenthelp.Com

Question: Discuss About The Benefits Realization Management Influence? Answer: Introducation Desired Area of Impact: The impact area of the project referred here is developed here on the basis of the following five different areas - financial, operational, social, strategy and the consumer. The project deals with the development of online booking system for tickets for a show organized by RALS agriculture. Hence, the order of priority for the impact area is - Operational, Customer, Social, Strategy and Financial. Project Values: As per Globex requirements as well as RALS estimation, it is assumed that the project will bring faster and better value to the organization. The existing process of ticket sales can be improved by the implementation of online ticketing process. Apart from this, the online ticket sale process increases the speed of the process and ensures a better efficiency. It also relaxes the crowd management process without any delay in the ticketing services. Appropriate Metric: The following metric is chosen: 1) the activities must be accomplished before the scheduled date for all the stakeholders of the organization; 2) 110% of the workload must be accomplished before the end of the month; 3) 70% or above Return on Investment (ROD) must be provided by the outcomes of the project. Appropriate Timeframe: The metric described above needs to be achieved under the time limit of six months after the accomplishment of project. The stakeholder's metric needs to be accomplished before finishing of the project and as a result, the performance of the stakeholders may be assessed at the correct time. "The above project will be stated as successful if each stakeholder of the organization achieves 110% of the workload of the project each month, finishes the assigned target before the due date and the ROI provided by the outcome is more than 70%; apart from it, the project achieves the desired interest areas - Operational, Customer, Social, Strategy, and Financial and brings the faster and better value needed for organization. Part Two The Project's scope includes the development of an online ticket booking system and its sale process in order to resolve the issues like crowd management, delay in queues. The sale system of online ticketing must be relevant enough to perform the function of automated ticketing. Resources required are listed in the table below: Resource type Resource roles Resource responsibilities People Business analyst, Technical lead, Project manager, Developer1, Developer2, Lead analyst, Frontend developer and Tester Management of project, Building the team, Responsibility to make any decision Acting as a bridge between the client and teams involved in development and testing,, Documentation of every requirement and change, Ability to work on difficult issues, suggesting the required architectural changes, awareness related to agile methods, Coordination with lead analyst, Ensuring that SLAs as well as the deadlines are fulfilled, database designing, UI, interfacing Estimation of the process of testing, planning the testing objectives Escalation of issues and risks, providing the required testing updates Technology CXA and UX; Java 8 OCp; HTML5, CSS3, and Act JS The mentioned technologies are required for development of the online ticket booking and its sale system Facilities Department of Development and deployment Provides major tools of development, infrastructure assistance as well as the designing of online application Others Team members Training Proper communication and Coordination, It Provides the training to the employees in the RALS organization Table 1: List of Resources Part Three The scheduling of the activity is performed using Gantt chart in MS Project Software. The scheduling table is provided for achievement of proper allocation of the activities and the time using all the provided resources. Later, work breakdown structure is also prepared using the above Gantt chart. Part Four Risk analysis and risk management need to be performed for the maintenance of the process of risk mitigation. The following assumptions provide the bases for the identification of the risks- The approval of MOV from the managing authorities and the administration The completion of project before the planned deadline The completion of the project within allocated budget No requirement of training for the employees and the stakeholders Risk Management Plan: As per MOV, project charter and the assumptions, the risk areas of the project are recognized, evaluated and mitigation plan is adopted accordingly. The risks are as follows: Budget risk: There are certain chances of the project running out of the allocated budget by the company. Therefore, the contingency planning process must be considered by the management authorities for the adjustment of the budget during the project timeline. Despite of having a high likelihood, the risk is considered to have the catastrophic severity. Thus, formulation of the mitigation plan must be a process of high authority. Timeline risk: Sometimes the project is not completed before the deadline and there is a requirement of some extra time of a week or a month. In this case, the project manager should consider cutting an extra slack of time so that the project completes within the decided time period. Despite of having medium likelihood, the risk has a medium severity. Thus, the priority for adoption of the mitigation plan is medium. Non-Approval of MOV: The approval of MOV lies on the management. In case the management finds it difficult to meet the requirements of MOV based on the terms of money, time and resources, they can reject the MOV. In this case, project needs to be restarted and a fresh MOV needs to be prepared. This risk has a low likelihood but ids considered to have certain severity. Thus, low priority must be given to the planning of mitigation plan in this case. Training Requirements: There is a need for the training for a few days for the new and existing stakeholders and the employees in RALS to work in the new system. Therefore, there is need to spend a portion of assigned budget in the training process. This risk is considered to have low likelihood but medium severity. Thus, the planning of mitigation plan needs low priority. Project Failure Risk: There are chances that even after project completion, the full benefits of projects are not realized. This may happen if implementation process is not proper. To ensure that project reaps intended benefits there is need to monitor progress of project from time to time. Also, it must be ensured that project delivered is as per standards set. Part Five The statement regarding quality management needs to be prepared in the following way - We hereby declare that we aimed to develop online ticket booking system for RALS committee and we will provide shear quality in all functionalities as collected and analyzed prior to project initiation phase. The verification activities are listed below: Ensuing that product development is in accordance with the policies of the organization. Checking the proper automation Ensuring the proper estimation tools Ensuring that the process of testing is in accordance with the scheduled timeline The following are the validation activities- Identification of the insider flaws such as testing bugs Identification of the defects in application functioning. Part Six: Annotated Bibliography: Closure and Evaluation Annotated bibliography can be found attached. Closure checklist: It includes major activities like contract sign-out, stakeholder sign-out, preparing documentation, preparation of evaluation plan and reviewing of the performance. Evaluation Plan: It involves criteria like meeting requirements, performance, achievement of deliverables of higher level and quality and completion of the tasks within time. References Besner, C., Hobbs, B. (2013). Contextualized project management practice: A cluster analysis of practices and best practices.Project Management Journal,44(1), 17-34. Hill, G. (2013).The complete project management office handbook(3rd ed.). New York: CRC Press. Kerzner, H. (2013).Using the project management maturity model. Hoboken, N.J.: Wiley. Knutson, J. (2001).Project management for business professionals. New York: John Wiley. Marcelino-Sdaba, S., Prez-Ezcurdia, A., Lazcano, A. M. E., Villanueva, P. (2014). Project risk management methodology for small firms.International Journal of Project Management,32(2), 327-340. McLeod, L., Doolin, B., MacDonell, S. G. (2012). A perspective?based understanding of project success.Project Management Journal,43(5), 68-86. Martinelli, R. J., Milosevic, D. Z. (2016).Project management toolbox: tools and techniques for the practicing project manager. John Wiley Sons. Quade, S., Birkenkrahe, M., Habermann, F. (2013). KMUT Project Management Toolbox.International Journal of Emerging Technologies in Learning (Ijet),8(2). https://dx.doi.org/10.3991/ijet.v8i2.2485 Raydugin, Y. (2013).Project risk management. Hoboken, N.J.: John Wiley Sons. Serra, C. E. M., Kunc, M. (2015). Benefits realization management and its influence on project success and on the execution of business strategies.International Journal of Project Management,33(1), 53-66.