The purpose of the Portfolio Project is to synthesize current project metrics research and make recommendations for how the knowledge can be applied in an organization.
The final project is structured to help you demonstrate an understanding of the course material as well as the implications of new knowledge gained from outside research.
Read the case study “Franklin Electronics” from your textbook.
Based on the case study, answer the seven questions found at the end of the case study and write a proposal to Franklin Electronics describing how you would do to turn the project around.
When writing the proposal, assume the role of a highly regarded project management consultant hired to review, analyze, and advise Franklin Electronics on the necessary direction to be used to get the project back on track. Your proposal should address the following:
• Discuss Six Sigma process improvement for tracking time and cost, and the root cause of the problem. At a minimum, your discussion should include:
o Cause and Effect
o New approach to tracking Earned Value and Scope
o New Schedule and timeline
• Discuss your recommendations on how Franklin Electronics can use project management principles to meet their goal of improving efficiency and empowering management to make better and informed decisions through the use of Earned Value Management.
• Discuss how an effective Earned Value Management System contributes to organizational effectiveness.
• Finally, present your strategy on how Franklin Electronics can share best practices across the organization.
The paper should be 7-10 pages in length, well-written, properly referenced, and in conformity with Writing and APA Requirements.
The paper must be supported by at least six scholarly references.
This material may consist of step-by-step explanations on how to solve a problem or examples of proper writing, including the use of citations, references, bibliographies, and formatting. This material is made available for the sole purpose of studying and learning - misuse is strictly forbidden.Project proposal
One of the main aims behind project management is to attain the goals of the project in a timely and cost-effective manner without compromising the quality.
At the start of every project, project milestones are identified which are used to track project performance.
This proposal is based on the project by Franklin Electronics. Over the first 3 months of the project, there were unfavorable cost and schedule variances.
As such, the client was willing to cancel the project due to negative variances.
This proposal seeks to address these issues and make recommendations for improving the project’s performance and value addition.
Assessment of six sigma techniques
The project comprises of 45 work packages and the first 3 months were focused on the first 4 work packages only, labeled as A – D.
The cost and schedule parameters were unfavorable over the first 3 months and the client had decided to cancel the project as it was expected to experience significant overruns in their opinion.
The deviations of cost and time along with their relative values have been shown below.
Trend analysis of the cost and time overrun should be conducted to make predictions about the future.
Cost and time variances for month 2 Work packages PV, EV, AC ,Cost variance, Schedule variance, % deviation in costs, % deviation in schedule...