Project Execution and Creation of Charter

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Business Finance


Winsome Manufacturing Company produces plastic storage containers and sells them to the home consumer through home sales events. At the company’s quarterly meeting, the head of marketing described a new product to be introduced in the first quarter of the next fiscal year, approximately 9 months from now. The product will be a room-sized plastic storage unit suitable to the outside of the home; it is similar to a competitor’s product but will have significantly more features. This product will open new markets for the sales channel, lay the foundation for add-on products, and generate new revenues. Management has only seen preliminary sketches of the potential product but are very excited by the new product.

The project will require participation from the design, production, purchasing, shipping, sales, and marketing departments. Winsome Manufacturing owns a line of suitable injection molds, so all manufacturing will be done in-house. The project manager for this project has not yet been selected, but that decision is expected to be made in the next week.

A preliminary project initiation meeting will result in the identification of the project sponsor, selection of a project manager, and creation of the project charter. A manager in the production department who knows you are taking a college project management course asks you to prepare a brief report to help him prepare for the meeting by answering the following questions:

  • Who are the project stakeholders? How will they be involved in the project?
  • Who should be the project sponsor? Why?
  • From which department should the project manager come? Why?
  • What skills and experience are likely needed by the project manager for each phase in the project life cycle, and how do they differ between the various phases?
  • What type of communication plan will likely be needed during the project?
    • What information should be shared with the project stakeholders?
    • What is the mechanism that could be used for each type of information?
    • What is the frequency with which information should be shared?
    • What should be done if project communications are not proving to be effective?
    • What technology could be used for project communications?
    • At what point could communication about the project become an ethical or legal issue?
  • What information should be included in the following elements of the project charter:
    • What is the problem the project proposes to address?
    • What business opportunity might project completion create?
    • What is the business case for undertaking the project?
    • What is the financial impact of the project?
    • What are the expected results of the project?
    • What value will the project add?
    • What are risks that might be involved with undertaking the project?
    • What is the potential impact to the company if the project is not undertaken?
    Please answer these questions and include any tables/charts where necessary. This should be in APA format with in-text citations and references. It should also be up to 5 pages.
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    Explanation & Answer



    Project Management Meeting Preparation




    Project stakeholders are those people who have any invested interest(s) in a project. They
    could be directly or indirectly impacted by the project. In this case, the project stakeholders will
    be Winsome Manufacturing Company itself (the project team, management, project manager or
    leader), the Project Sponsor, the suppliers and vendors or those who have been subcontracted to
    provide their services, the customers, the government and any other consultants. The project
    team will contribute directly to the realization of the idea into materializing through building it,
    the senior and line management will be involved in making major and minor decisions on how
    they think the project ought to turn out depending on what impact the product is supposed to
    have on the customers, the project manager will be in charge of running the project to ensure
    expectations are met as set and the project sponsor finances the project. The suppliers and
    vendors provide required materials and services to the project depending on which part of the
    project they are involved in and at what point in time, the product testers are those people who
    get to test the efficiency and benefits that the product has to offer as well as pointing out the
    downside of the project, the customers will be the end-users of the product and they will get to
    enjoy the benefits it provides and the government will give project approvals.
    The project sponsor plays a major role in the realization of a business idea and ensuring that
    the project meets its set objectives. The project sponsor should be a person who is always on toes
    with regard to the project and who is part and parcel of the organization, say, one of the senior
    managers. The project sponsor is responsible for ensuring resources for the project are secured as
    well as the budget for the project, is in charge of approving any requests to carry out change,
    carry out regular communication with project manager, decision making, risk management and
    carry out team motivation (Roeder, 2013). The project manager o...

    Really helpful material, saved me a great deal of time.


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