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Project France. Prof. Belton, MPM Presented by; Christian Gonzalez Tamika Roland Angelica Casarez Teria Edwards. Table of contents. Project Background Scope Statement Currency Trend Analysis Investment Process Review Process RBS Organizational Chart RACI QFD Human Resource Plan
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Project France Prof. Belton, MPM Presented by; Christian Gonzalez Tamika Roland Angelica Casarez Teria Edwards
Table of contents • Project Background • Scope Statement • Currency Trend Analysis • Investment Process • Review Process • RBS • Organizational Chart • RACI • QFD • Human Resource Plan • Project Phases • What is project risk management • The process of project risk management • Risk Strategies • Probability and impact matrix • Plan risk response • Scope of project risk management • Initial risks • Risk observations • Risk register update • Work performance information • Impact and mitigation • Monitor and control tools and techniques • Current events • Additional risks • Risk 1 • Risk 2 • Risk 3 • Schedule crash • Project S-curve • Lessons learned • Work Cited
Project Background M&K Corporation is a U.S. based company manufacturing various electronic products, including imaging devices, semiconductor devices, and automobile image sensors. M & K Corporation decided to open an automobile image sensors unit manufacturing plant in France in collaboration with a local company called Pajot Autos Ltd.
Scope Statement M& K Corporation will invest into Pajot Autos through a B to B venture to provide machinery for a new Auto image sensor unit in France with a budget of $50,000,000 and a 10 month duration.
Currency Trend Analysis Initial .7061 Current Average .6970
Investment Process Foreigners are allowed to own a maximum of 45% interest in a company. The intermediary allows for the investment and attaining majority voting rights. Risk; Inability to complete the investment due to French restrictions. • Mitigation; • Applying to the Ministry of Economy, Finances and Employment, for authorization to set up a company.
Review Process Ministry of Economy, Finance, and Employment leads the foreign investment review process. Length of decision: Maximum of 2 months After the 2 months if no response is received then it is legally deemed as approved. Average expectancy of wait time is 2 weeks.
Organizational Chart Mr. Belton Stake- Holders/Sponsor M&K Corporation Pajot Autos Christian Gonzalez Project Manager Angelica Casarez Procurement Manager Tamika Roland Project Coordinator Teria Edwards HR Manager Documentation Planning Training Change Management Interaction with Employees Support Operations
RACI Chart R: Responsible A: Accountable C: Consult I: Inform
Communication and human resources plan All the project members will report to the PM at the end of the day via email/text/phone with their progress. Weekly meetings on Friday have been scheduled for all the team members to share their progress by means of; • Physical meeting • Virtual meeting Team meetings will encompass McGregor’s Effective Team management: • Informal, comfortable meetings • Members listen to one another • Team members are open in expressing feelings and ideas Conflict management will be resolved through the following techniques: • Smoothing/Accommodating • Collaborating
Project phases • Phase 1initiation- This phase involves establishing the project team, SWOT analysis of team members, and assigning positions. • Phase 2 planning- This phase involves brainstorming for project risks, establishing contingencies, mitigations, and backup plans as well as locations for budget and reserve analysis. Key activities include the firm fixed contract agreement outline. • Phase 3 execution- This phase involves the construction. • Phase 4 monitor and control- This phase involves monitoring the project scope, the project risks, and the budget to assure the project is within the fixed budget and it’s schedule. • Phase 5 closing- pay off open procurements, update risk register and project documents, and lessons learned.
What is Project Risk Management? The purpose of Risk Management is to describe the methodology for identifying, trackingand mitigating.
Risk strategies • Avoid. Changing the project management plan to eliminate the threat entirely. • Transfer. Shifting some or all of the negative impact of a threat to a third party. • Mitigate. Reduction in the probability and impact of an adverse risk event • Accept. Allow it to occur. • Exploit. Used to ensure that the opportunity is realized. • Share. Allocating some or all of the ownership of the opportunity to a third party who is best able to capture the opportunity for the benefit of the project. • Enhance. Used to increase the probability and/or the positive impacts of an opportunity. • Accept. Take advantage of it if it comes along, but not actively pursuing it.
Probability and impact matrix Negative risk strategy: Mitigate Positive risk strategy: Exploit Enhance
Plan risk response11.5 Tools & Techniques 11.5.2 Inputs 11.5.1 Outputs 11.5.3 Includes the strategy and action items to address the strategy, mitigations to be done, who is doing it, and when.
Scope of risk management Identify the risks that have the potential of affecting the project both internally and externally.
. Initial 5 Project risks
Risk observationspmbok11.6.1 • Monitor and Control inputs • Update of the risk register • Review of the Project Management Plan • Work Performance Information • Performance Reports Review
Work performance information11.6.1.3 • Deliverables- as discussed in the register the weather has caused a secondary(delay in machinery) and residual risk(unavailability of expert judgment). • The fall in operational cost allowed for the contingency to cover the cost that incurred. • The off-shore team is ahead of schedule
Impact and Mitigation PMBOK 11.5.2
Monitor and control tools and techniques 11.6.2.2 Risk audits- examine and document the effectiveness of risk responses in dealing with identified risk and their root causes, as well as the effectiveness of the risk management process.
Current events • Restrictions against US corporations establishing a business. • Restrictions on work visas. • Restrictions on tourism. Due to amount of execution we fall under the restrictions.
. Risk 1 Mitigation/Workaround Supply chain management
Risk 2 Mitigation The fall in operational cost allowed for the contingency to cover the cost that incurred. Due to the severe weather, backup suppliers were unable to ship. -Supplies were received 3 weeks later.
Risk 3 Mitigation Negotiation: Extra Payment to the consultant for compensation for time needed. Consultant Constraints: Required expert judgment is needed in 4 weeks. Cost: $25,000 Allotted Time: 3 weeks
Execution Infrastructure completion time: 2 weeks
Thank you This concludes our presentation
Lessons Learned • Angelica Casarez • Teria Edwards • Tamika Roland • Christian Gonzalez http://internationalelements.weebly.com/
Work cited • http://www.herbertsmith.com/NR/rdonlyres/427381DC-A885-4330-B007-41626773D38B/0/InvestinginFrance.pdf • http://www.invest-in-france.org/Medias/Publications/862/doing-business-in-france-may-2010_en.pdf • http://www.globaltrade.net/international-trade-import-exports/f/business/France/Investing.html • http://www.invest-in-france.org/Medias/Publications/186/Corporate_Brochure_IFA.pdf • http://www.bs15000.org.uk/ • Goetsch, David L., Stanley Davis, and David L. Goetsch. Quality Management: Introduction to Total Quality Management for Production, Processing, and Services. Upper Saddle River, NJ: Pearson Prentice Hall, 2006.
