Please provide a professional looking document that includes the following 1. Project name- Please come out with a name for your project. 2. Project team- at this point you should have your project team in place. Be sure to identify your team by its name and list all team members. 3. Project description -provide a brief description of the project. A project description should be written so that anyone unfamiliar with the project can read and understand what the project is about. Include a brief description of the organisation and the problem or opportunity that led to initiating the project. 4.
Measurable organisational value (MOV) – The MOV is the goal of the project and is used to define the value that your project will bring to the client . It will also be used to evaluate whether your project was a success later on. In reality, you work very closely with your internal or external customer in developing an MOV. Your responsibility would be to lead the process, while the user groups would commit to specific areas of impact, metrics and time frames. Once the MOV is defined, it becomes the responsibility of all the project stakeholders to agree whether the MOV is realistic and achievable .
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For the purposes of this assignment, you will have to come up an MOV on your own. You are free to be creative, but please strive to make MOV more realistic . For our purposes, learning how to develop an MOV is an important process. Use following steps to define your projects MOV: a. Identify the desired area of impact-at this point, what areas do you think are the most important to your organization? Rank the following areas in terms of their importance and describe the impact on each •Strategic •Customer •Financial •Operational •Social b.
Identify the desired value of the IT project Value to an organisation can come from doing something better faster or less expensively. On the other hand, it can come from growth by doing more of something that the organisation is currently doing. The next step in developing an MOV is to identify the project’s potential value to the organisation. In general an IT project should focus on delivering one or two of following types of value •Better? Does the organization want to do something better? For e. g. is improved quality important to the organization? •Faster?
Does the organization want to do something faster? For example do they want to increase speed, efficiency or reduce cycle times? •Cheaper? Does the organization want to reduce costs? •Do more? Does the organization want to do more of something? For example do they want to continue the growth of something that they are currently doing? c. Develop an appropriate metric-once you have identified the desired area of impact and value to the organisation , the next step is to develop a metric that sets a target and expectations for all of the project stakeholders.
For example if an organisation desires to do more of something that is strategic to the organisation then the organisation’s management may feel that an IT project will bring value to the organisation if they can grow their current market share from 10 to 25 percent. On the other hand, a bank may be able to process a loan request within 10 days. By developing and implementing proposed information system, the bank’s management may believe that it can reduce the cycle time of processing a loan to 24 hours or less.
This would allow the company to do something faster operationally. Therefore, it is important to come up with a quantitative target. This target should be expressed as metric in terms of increase or decrease of money percent or a specific numeric value. d. Set a time frame for achieving the MOV – Once you have identified the area of impact, value to the organisation, and an appropriate metric, you need to set a time frame for achieving the MOV. Keep in mind that this time frame may not coincide with the scheduled completion of work. For e. g. he reducing the time to process a loan within 24 hours may be achievable once the system is implemented but instant growth of market share from 10 to 25 % may take a few months. Setting the time frame for achieving the MOV can be determined by asking the question – when do we want to achieve this target metric? e. Summarize the MOV in a clear, concise statement or table – Once the area of impact, value, metrics, and timeframe are agreed on, the MOV should be summarized so that it can be clearly communicated to all of the project stakeholders.
The MOV can be summarised in a statement: This project will be successful if _______? On the other hand, a table format may be more appropriate for summarizing the MOV if it has a growth component over two or more time periods . Keep in mind that the MOV should tell everyone what the project will achieve, not how it will be achieved . The MOV should focus on the organisation, not the technology that will be used to build or support the system the information system. 5.
Comparison of alternatives –To keep things simple, you may consider three alternatives for your presentation; maintain the status quo (do nothing), purchase a software package, or build a custom system. Using the web or library, determine whether any software packages currently exist that you think may support the expected requirements. If more than one exists, then select one that you feel may be the best option for your client. Compare each of the alternatives based on the following criteria a. Total cost of ownership(TCO) This can be only a rough estimate at this time.
Later on you will develop a detailed project schedule and budget that can be compared to your ballpark estimate now. Keep in mind that the Total Cost of Ownership should include: i. All direct or upfront costs ii. Indirect costs iii. Ongoing support and maintenance costs b. Total benefits of ownership: Total benefits of ownership should include all of the direct, indirect and ongoing benefits for each of the proposed alternatives. It should focus on: •Increasing high value work •Improving accuracy and efficiency •Improved decision making •Improving customer service 6.
Analysis of alternatives – Once costs and benefits have been identified, it is important that all alternatives be compared with each other consistently. Use any of the financial/scoring models to analyse the alternatives. At this point, you have more questions than answers and feel that you are being forced to make many assumptions. This is common for many real project teams and consultants at this stage of the project. You will gain confidence from experience, doing good research and paying attention to the details. Now you are ready to make a recommendation. ALL THE BEST