Project Planning For Time Inc: Recommendations For A Proper Time Sheet System
- December 28, 2023/ Uncategorized
SMART Milestones
The paper mainly reflects on “Time Inc”. which is one of the international firms that mainly have software centres in different 15 countries. It identified that the steering committee of the organization decided to implement the Timesheet in all centres as the organization wants to know how time is mainly utilized within the different software centres. The main interest of the committee is to engage within the process of capturing metrics like cost of quality, resource optimisation as well as project management excellence within the entire organization. It is found that the organization is mainly engaged within the purchase of the time sheet system which generally works for the project management system of an enterprise in order to provide visibility within the projects across different software centres. It is found that in this report, proper time sheet system is generally recommended for meeting the needs as well as requirements of the software systems.
The six milestones that utilizes the SMART criteria are elaborated below:
Specific: In order to enhance the present working system within the organization “Time Inc.”, it is very much necessary to develop the new system. It is found that in order to achieve the entire goal, it is very much necessary to upgrade the required hardware as well as software.
Measurable: It is found that new timesheet system will generally help in providing proper functionality of tracking to the organization so that the entire organization will be able to measure the entire time scales for better as well as for achieving efficiency.
Attainable: The organization must be able to provide stability as well as efficiency in order to manage the time as well as other important factors of the project.
Realistic: It is found that entire project will generally get finished within the time as well as budget which is feasible as well as realistic.
Time Bound: After undertaking proper feasibility analysis as well as initial estimation, it is analyzed that the entire project will get completed within the time period of 105 days.
The resource table for the project is provided below:
|
Resource Name |
Type |
Max. Units |
Std. Rate |
Ovt. Rate |
Cost/Use |
Accrue At |
Base Calendar |
|
Work |
100% |
$200.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
|
Human Resource Manager |
Work |
100% |
$175.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
Work |
100% |
$145.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
|
Project Supervision Manager |
Work |
100% |
$140.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
Content Writer |
Work |
100% |
$140.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
Procurement Manager |
Work |
100% |
$138.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
System Developer |
Work |
100% |
$120.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
System Tester |
Work |
100% |
$120.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
Technical Experts |
Work |
100% |
$180.00/hr |
$0.00/hr |
$0.00 |
Prorated |
Standard |
|
Hardware |
Material |
$1,500,000.00 |
$0.00 |
Prorated |
|||
|
Software |
Material |
$800,000.00 |
$0.00 |
Prorated |
|||
|
Subscriptions |
Material |
$5,000.00 |
$0.00 |
Prorated |
It is found that the budget that is generally required in order to finish the entire project will be around $2,474,352. It is found that detailed budget for each of the project activities is provided in the table that is given below:
|
Task Name |
Duration |
Start |
Finish |
Predecessors |
Resource Names |
Cost |
|
Project for Time Inc |
104 days |
Fri 28-09-18 |
Wed 20-02-19 |
$2,474,352.00 |
||
|
Discussion and board meetings |
7 days |
Fri 28-09-18 |
Mon 08-10-18 |
$17,920.00 |
||
|
Survey is done on the current system |
2 days |
Fri 28-09-18 |
Mon 01-10-18 |
Project Manager, Project Supervision Manager |
$5,440.00 |
|
|
Determining drawbacks |
0.5 days |
Tue 02-10-18 |
Tue 02-10-18 |
2 |
Project Manager, Project Supervision Manager |
$1,360.00 |
|
Identification of modifications for enhancing the system |
0.5 days |
Tue 02-10-18 |
Tue 02-10-18 |
3 |
Project Manager, Project Supervision Manager |
$1,360.00 |
|
Call board meeting |
1 day |
Wed 03-10-18 |
Wed 03-10-18 |
4 |
Project Manager |
$1,600.00 |
|
Discussing about the new timesheet software |
0.5 days |
Thu 04-10-18 |
Thu 04-10-18 |
5 |
Project Manager, Project Supervision Manager |
$1,360.00 |
|
Considering the various advantages |
0.5 days |
Thu 04-10-18 |
Thu 04-10-18 |
6 |
Project Manager, Project Supervision Manager |
$1,360.00 |
|
Discussing about the implementation procedure |
0.5 days |
Fri 05-10-18 |
Fri 05-10-18 |
7 |
Project Manager, Project Supervision Manager |
$1,360.00 |
|
Finalizing the entire report |
1.5 days |
Fri 05-10-18 |
Mon 08-10-18 |
8 |
Project Manager, Project Supervision Manager |
$4,080.00 |
|
Milestone 1: completion of discussion phase |
0 days |
Mon 08-10-18 |
Mon 08-10-18 |
9 |
Project Manager |
$0.00 |
|
Planning phase of the project |
18 days |
Tue 09-10-18 |
Thu 01-11-18 |
$24,080.00 |
||
|
Selection of the project team members |
2 days |
Tue 09-10-18 |
Wed 10-10-18 |
10 |
Human Resource Manager |
$2,800.00 |
|
Developing project charter |
3 days |
Thu 11-10-18 |
Mon 15-10-18 |
$6,720.00 |
||
|
Determining project scope and boundaries |
0.5 days |
Thu 11-10-18 |
Thu 11-10-18 |
12 |
Content Writer, Project Supervision Manager |
$1,120.00 |
|
Determining project objectives with the help of SMART objectives |
0.5 days |
Thu 11-10-18 |
Thu 11-10-18 |
14 |
Content Writer, Project Supervision Manager |
$1,120.00 |
|
Determining proper project schedule |
0.5 days |
Fri 12-10-18 |
Fri 12-10-18 |
15 |
Content Writer, Project Supervision Manager |
$1,120.00 |
|
Determining budget for the project |
1.5 days |
Fri 12-10-18 |
Mon 15-10-18 |
16 |
Content Writer, Project Supervision Manager |
$3,360.00 |
|
Conducting feasibility study |
2 days |
Tue 16-10-18 |
Wed 17-10-18 |
17 |
Project Supervision Manager |
$2,240.00 |
|
Identification of possible risks that are related with the system |
2 days |
Thu 18-10-18 |
Fri 19-10-18 |
18 |
Project Supervision Manager |
$2,240.00 |
|
Preparation of risk mitigation plan |
2 days |
Mon 22-10-18 |
Tue 23-10-18 |
19 |
Project Supervision Manager |
$2,240.00 |
|
Developing feasibility report |
2 days |
Wed 24-10-18 |
Thu 25-10-18 |
20 |
Project Supervision Manager |
$2,240.00 |
|
Developing final report of the project |
4 days |
Fri 26-10-18 |
Wed 31-10-18 |
21 |
Project Supervision Manager |
$4,480.00 |
|
Submitting the documents |
1 day |
Thu 01-11-18 |
Thu 01-11-18 |
22 |
Project Supervision Manager |
$1,120.00 |
|
Milestone 2: Completion of the project planning phase’ |
0 days |
Thu 01-11-18 |
Thu 01-11-18 |
23 |
Project Supervision Manager |
$0.00 |
|
Formal initiation phase |
9 days |
Fri 02-11-18 |
Wed 14-11-18 |
$19,080.00 |
||
|
Allocating duties to the workers |
2 days |
Fri 02-11-18 |
Mon 05-11-18 |
24 |
Human Resource Manager |
$2,800.00 |
|
Hiring developer |
2 days |
Tue 06-11-18 |
Wed 07-11-18 |
26 |
Human Resource Manager |
$2,800.00 |
|
Recruiting members |
3 days |
Thu 08-11-18 |
Mon 12-11-18 |
27 |
Human Resource Manager |
$4,200.00 |
|
Conducting meeting on the project development |
2 days |
Tue 13-11-18 |
Wed 14-11-18 |
$9,280.00 |
||
|
Discussion on the project |
0.5 days |
Tue 13-11-18 |
Tue 13-11-18 |
28 |
Project Manager, Project Supervision Manager, System Developer, System Tester |
$2,320.00 |
|
Discussion about the needed features |
0.5 days |
Tue 13-11-18 |
Tue 13-11-18 |
30 |
Project Manager, Project Supervision Manager, System Developer, System Tester |
$2,320.00 |
|
Discussion about the procedure with which the entire Time Inc system is integrated |
0.5 days |
Wed 14-11-18 |
Wed 14-11-18 |
31 |
Project Manager, Project Supervision Manager, System Developer, System Tester |
$2,320.00 |
|
Discussing project feasibility |
0.5 days |
Wed 14-11-18 |
Wed 14-11-18 |
32 |
Project Manager, Project Supervision Manager, System Developer, System Tester |
$2,320.00 |
|
Milestone 3: Completion of the formal initiation phase |
0 days |
Wed 14-11-18 |
Wed 14-11-18 |
33 |
Project Manager |
$0.00 |
|
Project execution and development phase |
55 days |
Thu 15-11-18 |
Wed 30-01-19 |
$2,381,032.00 |
||
|
Purchasing necessary hardware |
3 days |
Thu 15-11-18 |
Mon 19-11-18 |
34 |
Procurement Manager, Hardware [1] |
$1,503,312.00 |
|
Purchasing required software |
3 days |
Tue 20-11-18 |
Thu 22-11-18 |
36 |
Procurement Manager, Software [1] |
$803,312.00 |
|
Subscribing the required platform |
2 days |
Fri 23-11-18 |
Mon 26-11-18 |
37 |
Procurement Manager, Subscriptions [1] |
$7,208.00 |
|
Development of the timesheet |
2 days |
Tue 27-11-18 |
Wed 28-11-18 |
38 |
System Developer, Technical Experts |
$4,800.00 |
|
Install Required Features of the Timesheet |
15 days |
Thu 29-11-18 |
Wed 19-12-18 |
39 |
Technical Experts |
$21,600.00 |
|
System testing |
5 days |
Thu 20-12-18 |
Wed 26-12-18 |
40 |
Technical Experts |
$7,200.00 |
|
Integration of the timesheet system with the present system |
15 days |
Thu 27-12-18 |
Wed 16-01-19 |
41 |
Technical Experts |
$21,600.00 |
|
Detecting bugs and other challenges |
5 days |
Thu 17-01-19 |
Wed 23-01-19 |
42 |
Technical Experts |
$7,200.00 |
|
Final testing |
5 days |
Thu 24-01-19 |
Wed 30-01-19 |
43 |
System Tester |
$4,800.00 |
|
Milestone 4: Deliver the System to the Project Manager |
0 days |
Wed 30-01-19 |
Wed 30-01-19 |
44 |
System Developer |
$0.00 |
|
Project Sign Off and Closing |
15 days |
Thu 31-01-19 |
Wed 20-02-19 |
$32,240.00 |
||
|
Project documentation |
5 days |
Thu 31-01-19 |
Wed 06-02-19 |
45 |
Content Writer |
$5,600.00 |
|
Submission of project documentation |
1 day |
Thu 07-02-19 |
Thu 07-02-19 |
47 |
Content Writer |
$1,120.00 |
|
Project review as well as appraisals |
5 days |
Fri 08-02-19 |
Thu 14-02-19 |
48 |
Project Manager |
$8,000.00 |
|
Payments finalization |
2 days |
Fri 15-02-19 |
Mon 18-02-19 |
49 |
Human Resource Manager |
$2,800.00 |
|
stakeholders sign off |
2 days |
Tue 19-02-19 |
Wed 20-02-19 |
50 |
Content Writer, Finance Manager, Human Resource Manager, Project Manager, Project Supervision Manager, System Developer |
$14,720.00 |
|
Milestone 5: Project Officially Closed |
0 days |
Wed 20-02-19 |
Wed 20-02-19 |
51 |
Project Manager |
$0.00 |
The RACI Table for the project is given in the below table:
|
Task Name |
Project Manager |
Finance Manager |
Human Resource Manager |
System Developer and System Tester |
|
Determining drawbacks |
R |
I |
||
|
Identification of modifications for enhancing the system |
R |
I |
||
|
Call board meeting |
R |
I |
I |
|
|
Discussing about the new timesheet software |
R |
R |
||
|
Considering the various advantages |
R |
I |
I |
|
|
Discussing about the implementation procedure |
R |
A |
||
|
Finalizing the entire report |
R |
C |
I |
|
|
Milestone 1: completion of discussion phase |
R |
I |
I |
|
|
Selection of the project team members |
I |
I |
R |
|
|
Determining project scope and boundaries |
R |
C |
C |
|
|
Determining project objectives with the help of SMART objectives |
R |
C |
C |
|
|
Determining proper project schedule |
R |
C |
I |
|
|
Determining budget for the project |
C |
R |
I |
|
|
Conducting feasibility study |
R |
I |
||
|
Identification of possible risks that are related with the system |
R |
|||
|
Preparation of risk mitigation plan |
R |
|||
|
Developing feasibility report |
R |
|||
|
Developing final report of the project |
R |
C |
||
|
Submitting the documents |
R |
|||
|
Milestone 2: Completion of the project planning phase’ |
R |
|||
|
Allocating duties to the workers |
C |
R |
||
|
Hiring developer |
C |
I |
R |
|
|
Recruiting members |
C |
I |
R |
|
|
Discussion on the project |
R |
R |
||
|
Discussion about the needed features |
C |
R |
||
|
Discussion about the procedure with which the entire Time Inc system is integrated |
C |
R |
||
|
Discussing project feasibility |
C |
C |
R |
|
|
Milestone 3: Completion of the formal initiation phase |
R |
|||
|
Purchasing necessary hardware |
I |
I |
R |
|
|
Purchasing required software |
I |
I |
R |
|
|
Subscribing the required platform |
I |
I |
R |
|
|
Development of the timesheet |
I |
I |
R |
|
|
Install Required Features of the Timesheet |
I |
I |
R |
|
|
System testing |
I |
I |
R |
|
|
Integration of the timesheet system with the present system |
I |
I |
R |
|
|
Detecting bugs and other challenges |
I |
I |
R |
|
|
Final testing |
I |
I |
R |
|
|
Milestone 4: Deliver the System to the Project Manager |
R |
|||
|
Project documentation |
R |
|||
|
Submission of project documentation |
R |
|||
|
Project review as well as appraisals |
R |
C |
||
|
Payments finalization |
I |
C |
R |
|
|
stakeholders sign off |
R |
R |
R |
R |
|
Milestone 5: Project Officially Closed |
R |
The risks that are associated with the project are lusted in the table below with proper mitigation plan so that the risks and challenges can be resolved effectively.
|
Risk Details |
Risk Nature |
Risk Type |
Mitigation Plan |
|
It is found that the timesheet that was developed have limited functionalities which creates less benefits for the organization. |
Positive |
Internal |
This is considered as a positive risk and thus it is very much necessary to identify factors that would help in achieving more benefits with the utilization of timesheet system. |
|
Cyber-attacks can cause number of security challenges within the project. |
Negative |
External |
It is very much necessary to use proper encryption system or firewall in order to avoid security issues. |
|
Due to lack of technical knowledge, the team members can face number of issues and challenges in finishing the entire project effectively. |
Negative |
Internal |
It is found that proper training sessions must be provided to the employees of the organizations for managing the functions of the new timesheet systems. |
|
It is found that due to improper management of project resources, the budget of the project increases. |
Negative |
Internal |
It is very much necessary to manage the budget of the project effectively for finishing the project on time. |
|
Lack of expertise of the team members can cause number of issues in finishing the project |
Negative |
External |
It is necessary to hire experienced workers with proper skills and knowledge so that the progress of the project does not get obstructed. |
|
Absence of proper hardware upgrades due to project delay. |
Negative |
External |
It is necessary to verify the background before getting the hardware supplies. |
The risk probability matrix is provided below:
|
Probability Impact |
Very Low 1 |
Low 2 |
Medium 3 |
High 4 |
Very High 5 |
|
Very Low 1 |
Very Low 1 |
Low 2 |
Low 3 |
Low 4 |
Medium 5 |
|
Low 2 |
Low 2 |
Low 4 |
Medium 6 |
Medium 8 |
High 10 |
|
Medium 3 |
Low 3 |
Medium 6 |
High 9 |
Highh 12 |
Very High 15 |
|
High 4 |
Low 4 |
Medium 8 |
High 12 |
Very High 16 |
Very High 20 |
|
Very High 5 |
Medium 5 |
High 10 |
Very High 15 |
Very High 20 |
Very High 25 |
The probability matrix of the project risk is listed below:
|
Risk |
Probability of Occurrence |
Impact on Project |
Risk Quotient |
|
Limited Functionality |
3 |
2 |
6 |
|
Cyber Attack |
4 |
5 |
20 |
|
Lack of Technical Knowledge of Employees |
3 |
3 |
9 |
|
Budget Overshoot |
2 |
4 |
8 |
|
Issues from Development Team |
3 |
4 |
12 |
|
Hardware Compatibility and Availability Issues |
2 |
5 |
10 |
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