Project Schedule
RPD which is lead by Mr. Sam Remington which is the 35yr old Wall street guru RPD had a plan which was to target the upper class income but wanted to see change in the strategy as the increase of their real estate booms were changing which also changed the investment in the 90’s, As more investors entered the picture. RPD had and discovered a new idea to help target it by using up to date products and services. 2005 which was a pretty good year which RPD developed their strategic implementation plan with primary goals of introducing the RPD which is the company new entry into the on-line trading. This plan that they have of course like any their other project that’s being planned you will definitely run into some issues, this will need to be worked out as the company is having technology problems as is which RPD had to pay $1.7 million in damages to customers whom weren’t able to check out their accounts within a 2.5 hour span, and with customers complaining of lengthy lag times in accounts, errors in account information tracking. These issues and opportunities arose from problems that eRPD project plan, not including a project scope, correct measuring of and having great performance, then finally not having enough project priorities established which has caused the project time to be completed, and not run short. RPD should be better prepared for problems of any sort to when they arise as when you are planning any type of project you are bound to run into problems. Even though you plan things out strategically correct you still will find that you will have some issues that you will run into that you will have to take care of and make sure that the problem is resolved. You want this to be pretty much done so that it doesn’t come back to bite you, but then these are the things you risk and take when you plan and prepare for a major project. Let’s look at some of the potential risks that might be a stake her.
Weighting Perceived Risk
One thing about planning projects that many of the project teams really fear most are risks; there are many different types of risks that may be very harmful to a project. Today we will examine a couple of risks that a team can run into. And how do we managed weighting perceived risk and then there’s of course you have your future risks which leads to how you will measure your project risk. These are all risks that any project team will come across. But the thing is taking care of these risks and not letting them get the best of you and the project continuing in the right direction remaining focused. With eRPD and the big idea of developing and introducing the company’s new entry into an on-line trading, you have to look at the potential risks that are at hand. Looking at overall how some of these risks play into these projects take a look at what a mitigation strategy. After you define the top project risks, your next step is to put mitigation strategies in place. To continue with the example of implementing a new technology, a mitigation strategy might include conducting stress and acceptance testing at the beginning of the project to ensure that the technology is able to perform under expected volumes. By defining mitigation strategies for each risk; you outline how to head off risk and manage potential issues. (Paella, 2003). This is what the company faces with the putting of mitigation strategies into place. Then let’s not forget that there are other steps that are involved within the process also. And the main one seems to be the managing of the risks that seems to come your way within the process let’s look at the real thing behind managing the risks. Have you ever created a project plan and documented assumptions that need to be true in order for the project to be successful? Assumptions are relied-upon, specific outcomes for particular issues. Because you're relying on a specific outcome, the assumption presents a risk to the project if the outcome is different For example; you assume that customers will be available for a minimum of 20 hours per week throughout the project. Because you've made this assumption, you're relying on the customers to be available, to avoid delays in the project schedule. Therefore, this assumption entails a project risk that needs to be managed. . (Paella, 2003)
Looking at the overall project at hand putting together the project management software getting and complementing the metrics for the eRPD by having the software getting and of course by communicating the solutions via the communications plan. And as we know that at times project management software can fall short of programs needs. If by chance this is not successful the consequence can be that all of the money that was spent and let’s not forget the time, this is definitely going to break into the projects schedule which is when you really want to have this completed by. Then it will throw the budget off and then you have results from the program which will really be off balanced than before. With this happening you want to be careful of what software’s to use in this situation real bad designed software can cut the motivation of your team of employees down quickly, leaving everyone must there which is not what you want. This is truly why you want to carefully plan everything out your time, your resources; you have to make sure that the monitoring of the results will significantly mitigate the project risks for failure. What needed is a well put together plan to decrease the chances of software failure. As we make the approach to what is needed RPD needs the step problem solving model which plays a very important role with any project. These are some very important steps that will help make the project flow easily and with fewer problems. As you look at the steps number 6 stated that you want to evaluate the problem Identify and assess risk, this is what’s needed before going on to the other steps of importance which leads up to making the decision. With RPD their solution let’s not forget was to use both tiers so that they could address the need for a great project system putting eRPD program back on track by keeping the key elements of scope, and making sure that time is right and that all the resources are usually what we are looking for. Plus making sure that project needs overall is met. After we evaluate everything that was done throughout the project then it comes towards whether or not you are going to make sure your goal of completing the project on time and did you spend what was projected to spend or not.
This step which is next to the final step was to determine if everything was done correctly and was successful when it came to meeting all of the goals necessary to complete the project. Of course one way of Remington making sure the they accomplished what was needed in the project would be to get feedback from customer’s surveys, and then of course you have the growth on-line revenues. These are the things RPD wants to watch to make sure that they are moving in the right direction and the goal which is to become a powerhouse within this industry. Remington needs to also make sure that they implement the baselines for all the surveys during the program. The reason for this is, RPD is in need of when it comes to measuring the success of the project every 6months and every 6months afterwards. The reason the goals will be checked is to make sure that they were as close to the 100% complete towards the needs of the project. While staying within the means of the company by way of budgeting making sure that the many projects to used was used no more and no less and of course the most important, the schedule when performing any project you want to make sure that the team is on schedule and on pace to finish on time, cause for one time is money. You have to really wonder if the implementation plan went according to plan and of course what was the success of this plan.
Conclusion
In conclusion we see that RPD was able to see that those problems and all of the risks that they saw come their way they were able to correct and keep going forward as a team. They also found that some of the potential risks at hand were due to poor judgment this is why it is so important that as a tem when getting prepared for a project it is very important that you make sure that everything is done correctly and that the schedule and budget is done in order. Of course we saw how they avoided and handled the risks that were at hand and that when planned correctly you still will run into bumps in the road.
References
Pacelli, L. (2003). Manage project risks and issues. Microsoft. Retrieved from http://office.microsoft.com/en-us/project-help/manage-project-risks-and-issues-HA010007249.aspx#BMabouttheauthor
