Project Closeout Paper

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timer Asked: Oct 18th, 2018
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Question Description

Explain the project closeout process for your team's project in a 1,050- to 1,400-word paper. ( all 3 weeks of team assignments are attached to be used as resource)

Address the following:

  • How customer final approval will be received
  • Criteria to be met for the customer to agree that the project has been successfully completed
  • The lessons learned as the project is completed - What was done well? What could have been done better?
  • Project team rolloff - What happens to the project team members? How soon can they roll off the project?
  • In which form will communication be delivered to stakeholders?

Format your paper consistent with APA guidelines.

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Project Proposal Content The team selects an idea for a team project that would benefit an employer. The team describes the project and the rationale for the choice. The team identifies the stakeholders and how they will benefit from the project. 1 Met Not Met The project was described. X Identify Stakeholders and Benefits. X X The team discusses the resource requirements for the project. X The team identifies steps to take to assemble, develop, and manage the project team. X The team discusses the importance of project sponsorship and project leadership during project execution. X Comments: A team project, Trucking Company X The team uses the questions asked in Week 1’s “Overview of a Project assignment to create an overview of this proposed project. The project proposal summary is 350 to 700 words in length. Partial Met Provided an overview in the intro. Highlighted the resource requirements. Steps were identified. Highlighted project leadership. Word count 1088. Good conclusion. Good intro. X Total Available Total Earned 5 5 Good APA format. Good title page. Good headings in the layout of the paper. Good references and citations. Good job! A TEAM TRUCKING 2 Project Proposal A Team Trucking CPMGT/300 A TEAM TRUCKING 3 Project Proposal The A Team Trucking LLC Company fills a void in the California high-speed rail system by implementing a contract sole dependent on supporting the rail company. California currently is ramping up the development and implementation of a high-speed rail system, which enables A Team Trucking LLC an opportunity to generate revenue. However, the market is exclusive to contract companies, who have contracts with the state of California, however; the company during the early phase could explore sub-contracts with those companies working around the vetting system. Rationale The project shall require the purchase, lease, or sign rental agreements for semi-trucks and trailers to accomplish the contract. Leasing equipment provides the best option for our business, since it is a 100% write off for taxes, as where purchasing equipment only allows the company to depreciate the asset. Therefore, it would be best to lease the equipment, which permits the business to have newer equipment with less worries of maintenance issues. An idea of cost effectiveness is listed below; Lease Equipment Used Truck: $800 a month (CastOwl.com, 2018) Lease Equipment New Truck: $2,500 a month (CastOwl.com, 2018) Lease Equipment Dump Used Trailer: $1,533 (Rental Yard, 2018 The Stakeholders Stakeholders for the start-up to prolonged future will be two different companies. One of which is ABC Electric, who has a lot of work with the CHSR and is the reason we have this opportunity. ABC Electric will receive a $5 hour per truck broker’s fee. The other stakeholders include a small trucking company we called B-Team Trucking. They will be our Sub contractor. A TEAM TRUCKING 4 Their payment is $5 an hour in brokers fees, plus any truck and trailer used for A-Team truck, which is about $10 an hour each. If A-Team needs a loan for future growth, the lender will also be considered a stakeholder. Resource Requirements The most important resources to have are the drivers, budget, supplies and knowledge. Not only do you not want to spend too much, you want to make sure the money you are spending is well spent. The employee behind the wheel of the truck is based off inexperience, as are many other projects. Experience means everything for the project. You want to provide or be provide the best supplies. Where to get it and how is all about knowing who to talk to where to go. The faster they can go the faster yet, well preformed they will do. Networking if you will would be a key to getting a successful project such as this done. Steps to Assemble the Project Team Based on the needs of the project discovered during the initiation phase, the project team will need to consist of people with certain skill sets that can translate into the High-Speed Rail industry. The team that will be assembled will need to be able to address each function of contract work for the A Team Trucking LLC. The A Team Trucking is the client and will be a principle stakeholder in this project. The project team will consist of team members who will have an understanding in the areas of labor, insurance, loan financing and accounting. Also needed is someone on the team to handle any receivables and administration, just to have a point person to keep things organized. The team members will come primarily from the A Team Trucking Company while there are a couple that may come from outside of the company because of their specific skill set. A TEAM TRUCKING 5 Steps to Assemble the Project Team The first step in putting together the project team will be to identify the team members. Qualified team members from both inside and outside the A Team Trucking Company will be used. Each team member will be responsible for each of the following areas: equipment cost, labor, insurance, funding, sustainability and administration. The communication between the A Team Trucking Company, the project team and California High Speed Rail, who is the end user, will be done by the project lead. The Objective The objectives of the project will be given to the established project team members. This team will have a project lead but will operate in a self-managed structure. The team members will have the authority to complete their objectives in their own fashion. They can report back any challenges to the project lead. Steps to Develop the Project Team To develop cohesiveness between the team members, there will be a daily feedback session to discuss objectives, discuss challenges and share knowledge about available resources that may benefit one of the other team members. The project lead can inform the team of any changes the client or the decision maker may have wanted, and the team can discuss how to work in those changes The Importance of Project Sponsorship During Project Execution The project sponsorship is important for many reasons, especially considering that the success of the project depends on sponsorship to provide motivation and structure to the project. Another reason that project sponsorship is so important is because it is the main source of income funding for the entire project. A TEAM TRUCKING 6 The Importance of Project Leadership During Project Execution Like sponsorship, leadership is an important factor as well. Leadership plays an important role in project execution because it provides guidance and delegation. Leadership is also important because it helps to select the project team, taking care of sponsors, and taking care of stakeholders. Without leadership in place, there is a risk of the project coming out unsuccessful. Conclusion A-Team trucking is a proactive company ready to maintain their client, CHSR with any and all needs they may have in reference to trucking. We are available 24hrs a day to load and move material if needed. We thank you for the opportunity to service your needs and appreciate the time you have taken out of your schedule to look over our company. We hope to hear from you in the near future. We are standing by with trucks and certified safe drivers to work together with others to complete the largest construction site in America. Again thank you for this opportunity, A-Team Trucking LLC. A TEAM TRUCKING 7 Reference CastOwl.com. (2018). How Much Does it Cost to Rent or Lease a Semi Truck? Retrieved from https://www.costowl.com/automotive/auto-semi-truck-rent-cost.html Great Western Leasing and Sales. (2018). End Dump Trailers. Retrieved from https://www.greatwesternleasing.com/semi-trailers/end-dumps Rental Yard. (2018). TRAVIS End Dump Trailers For Rent. Retrieved from = https://www.rentalyard.com/listings/trailers/for-rent/list/category/352/dump trailersend/manufacturer/travis Content Met Partially Met Not Met Comments: Project Requirements/Risk/Cost The team prepares a project requirements matrix, a risk assessment matrix, and a cost breakdown for the project. The team collects and evaluates the highlevel project requirements. The team prepares a project requirements matrix that includes the requirements, phase of project, responsible party, cost to complete, and duration to complete. 1 x The team prepares a project requirements matrix on risk, requirements and cost breakdown. X The team collects and evaluates the high-level project requirements. X The team prepares a risk assessment matrix that includes the risk, potential of risk occurring, level of impact to the project, and how the risk can be mitigated. The team prepares a project cost breakdown sheet. A requirement matrix was prepared. A risks assessment was conducted. Risks were rated high, medium and low. Did not identify any mitigation steps. -.5 x A cost sheet prepared. x The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements. Word count 1449 x Intellectual property is recognized with intext citations and a reference page. x Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper. x Sentences are complete, clear, and concise. x Rules of grammar and usage are followed including spelling and punctuation. x Good APA formatting Good references Transitions are present. Clear and concise sentences. Good grammar. Assignment Total #5 4.5 Additional comments: Good job on developing the matrix for requirements, risks and cost. Add mitigation steps to the risks matrix. Good job. Project Requirements/Risk/Cost 2 Project Requirements/Risk/Cost CPMGT/300 Project Requirements/Risk/Cost 3 Project Requirements and Risks Project requirements can be classified into three categories: business, solution, and stakeholder requirements. Business classification would be the requirements for starting a trucking company in California, such as filing with the state to form an LLC, DOT numbers for equipment on the roads, and filing forms with the government make A-Team Trucking a veteran owned company. Solution classification would be the deliverables or product we transport making it to their destination as per contractual agreement. In the case with CHSR, that would be the moving of fill dirt from location (A) to location (B). Stakeholder classification would be to ensure the needs are being met from A-team trucking. B-Team Trucking as a stakeholder needs the work to produce work for their trucks and extra trailers. CHSR as a stakeholder wants ATeam to produce in enough time to stay on their schedule with the building of the CHSR. Team leaders must maintain all these requirements making all parties involved feel the success ATeam is providing to them all. Phases of the Project and Duration Identifying requirements for the project requires categorizing task into the five phases. For example, the initiation phase encompasses meeting with lenders to acquire funding for the new organization. Equipment utilization like rental or purchases is a planning phase task to consider for the project. The execution stage leads to occupancy of a facility and taking passion of equipment. The monitor and control phase are continual during all phases of the project ensuring the organization maintains a schedule. The closure stage for the A-Team Trucking Company project requires the project manager to complete final reports and documentation for future projects, and a lesson learned from the venture. The Requirements Traceability Matrix (RTM) delivers a visual and documented flow of the project for the project Project Requirements/Risk/Cost 4 manager and stakeholders (Project Management Knowledge, 2018). The RTM (Table 1.1) delivers project requirements for the A Team Trucking Company. Responsible Party Responsible party involves all the team members of the project that make it be successful (Musings, 2017). Every project requires effort from everyone in the team and each team member has a responsibility to play. The stakeholders have the role of supporting the project in terms of finances and decision making. The project manager has many responsibilities in a project such as sharing of any information or change of the project to the team members, planning, implementation and execution of the project milestones. The human resources department has the role of hiring qualified members and training team members to reduce project management issues such as poor commitment, coordination and milestone timely achievement. The finance and accounting team has the role of making sure that the budget of the project follows and any resources are used properly. The project team coordinator, who helps the project manager, has the role of providing information of the best fit for their need and identifying what they will be upgrading to and go with the best cost of their needs. Project Requirements/Risk/Cost RE Q. ID 1 Source / Request or Create Team A Team for Project, and Truckin identify internal g and external Compan stakeholders y Perform SWOT Lender REQ. Description Org / Dept. Owner 5 Business Justification / Need Create a New Firm to Fill a Market Void Duration Status Comments 1 week Complete Team established and to accomplish project Arrange meeting with lender upon completion Project cannot move forward without completion Marketing Identify if business is an Idea or Opportunity 1 week In Progress 2 Secure Financing Owner Project Manger Required for Project Continuation 2 weeks Open Facilities Owner Project Manager Location for Operations 4 weeks Open Dependent on Financing Equipment Operatio ns Manager Project Manager Cost Estimates for Leasing and Purchasing 3 weeks In progress A complete Cost Analysis 3 4 5 Risk From the moment of initiating a project, the elements of potential risk should be a concern and a focus in the project planning. It should be monitored throughout the project to help keep control of the scope, time and cost of the project. “Good risk management starts in the project initiation process with careful consideration of what the project is supposed to achieve and how it is to be done—whether it is worth doing, whether it is possible to pull off, and, if so, what it will realistically take to do so” (Cobb, 2012). The focus for A-Team Trucking Company is to provide satisfactory deliverables in the planned time and cost. Having a plan to reduce the Project Requirements/Risk/Cost 6 risks that A-Team Trucking may be faced with is the goal of the project team. In planning, we have looked at each element of possible risk and rated the effect of each risk on the overall project. We then worked that element of risk into our project plan. We then ask each team member to take ownership of any slow-downs because of risks that are becoming problems. RISK FACTORS LOW MEDIUM HIGH Maintenance - Regular maintenance - New vehicle repair - Used vehicle repair Weather - Driving delays - Unexpected wildfires - - Mud Inclement weather inhibiting dirt removal - Maintenance costs - Flooding Leasing availability - Workman’s compensation - - Time constraints - Funding for truck purchase Delayed truck arrivals Budget - Project budget - Payroll Time - Vendor delays REGULATIONS - Competitor bids - Permits with the State of California - Contract bid for California LABOR - Properly insured - Drivers with CDL license - Contract bid for California - Good driving record - Good Attendance Project Requirements/Risk/Cost 7 Level of Impact to the Project Deciding on what impact we want to have is the first and most important question to address when designing any programme, project or intervention. It will enable us to: • Support a mission • Be accountable to sponsors, stakeholders, customers and beneficiaries • Know what works in the interventions we fund, to adapt and to do more • Improve policy and practice • Make choices and set priorities about the way we design our programmes and about what we fund (Philanthropy capital, er_impact_measurement.pdf) How Risk Can Be Mitigated To mitigate risks, two important steps must be taken into consideration. The first step you must take is to figure out the potential risk factors. Once the risk factors are determined, you can assess the possibility of the risk factors occurring. With the possibility of risk factors being determined, a contingency plan can be set in place. Whenever risk factors are determined early on, there can be steps taken to help minimize the risk. It is more effective and less cost consuming to mitigate risks rather than try to fix them after the problem has already occurred. Because of thus, mitigation should be monitored on a regular basis. If risks cannot be managed and something were to happen, that risks should be documented to make sure it does not happen again. Project cost breakdown Project Requirements/Risk/Cost Phase Initiation Launch 8 Requirement Place opening bid for California High Speed Rail Purchase of Initial fleet of bottom dump trucks needed for project launch Responsible Party Duration Cost Project Manager 30 Days $5,000 Project Manager 2 weeks $1,100,000 Planning Assemble the project team and involve them in the planning process. The approximate payroll amount Project Manager 2 Weeks $12,000 Planning Assign project tasks and objectives to team members Set-up contract agreement with staffing company to hire drivers at launch Staff and train drivers in California High Speed Rail regulations Payroll processed for staff Project Manager 2 weeks N/A Project Team Member 20 Days 40% mark-up for hires Project Team Member 1 Week $18,000 Project Administrator Project Manager Project Team Coordinator Project Manager 1 Year $936,000 1 Year 1 Year $1,500,000 $60,000 1 day n/a Total Cost $3,631,000 Planning Launch Execution Execution Execution Closing Maintenance and repairs Dispatch and logistics coordination Project Summary Report to Stakeholders including financials Conclusion In conclusion, we have various phases of project planning. These phases include the three major categories; requirements, risks, and costs. In the requirements matrix, we covered the requirements, phases of the project, responsible parties, costs, and the duration for completing the project. In the risk assessment matrix risks, potential of risks occurring, level of impact, and Project Requirements/Risk/Cost 9 how risk can be mitigated were covered. Overall, A-team trucking faces many risks that have the potential to be mitigated with the right preventative tools. References Project Requirements/Risk/Cost 10 An introduction to impact measurement. http://www.philanthropycapital.org/publications/improving_the_sector/improving_chariti es/inspiring_impact.aspx Cobb, A.T. (2012). Leading project teams: The basics of project management and team leadership (2nd ed.). New York, NY: Sage Publications. Musings, M. (2017). Project Management Case study. Retrieved from Marx Project Management Wisdom: http://www.maxwideman.com/papers/woody2000/opportunity.htm Project Management Knowledge. (2018). Requirements Traceability Matrix. Retrieved from https://project-management-knowledge.com/definitions/r/requirements-traceabilitymatrix/ Breaking Down the Work CPMGT/300 The Work Breakdown Structure The work breakdown structure for A Team Trucking Company includes a decomposition of the tasks to be assigned to the project team. This will include the time, cost and resources needed to complete the project. The overall deliverable will be the use of bottom load dump trucks to assist with the California High Speed Rail development. We have created a Gantt chart to help f ...
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Tutor Answer

Kishnewt2017
School: UC Berkeley

Attached.

Running head: PROJECT CLOSEOUT REPORT

1

Project Closeout Report
Institution
Date

2

PROJECT CLOSEOUT REPORT
Project Closeout Report
The process for approving the project closeout report consists of comprehension by the
customer from the onset the particulars of what the project on its own refers to. Moreover, it

involves the understanding and acceptance by both groups that the project is at the right form for
closure. The customer's input is necessary for the approval of the project's closure.
Upon both groups accepting to conclude the project, consequently the project will be sent
to the consumer by the manager via the means that have been agreed (Rosenau & Githens, 2011).
This is important since the whole project will need the customer's input in ensuring that it
remains operational. The methods that can be used include fax, E-mail or the delivery in person
to the customer's residence.
Once the findings of the project are received, the client will review them and offer his
feedback. The management of the project will have a meeting whereby the clients will talk about
the findings of the project. While in the meeting the client will mention his or her issues and
concerns about the project and the manager of the project will answer the various questions
raised. Once the meeting is concluded the manager of the project will go on to have a discussion
with their...

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