3-2 Final Project Milestone One: Project Initiation

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Business Finance

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In this milestone, you will analyze the Fabricant Manufacturing Project and begin tasks related to initiation.

To complete this assignment, review the Milestone One Guidelines and Rubric document.

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QSO 640 Milestone One Guidelines and Rubric Overview: In the final project, you will develop a complete project plan for a hypothetical organization. Each milestone assignment will help you complete portions of the final project. In this milestone, you will analyze the Fabricant Manufacturing Project (case study available in MindEdge) and begin tasks related to initiation. You will first define the project in the project charter during the project initiation phase. Prompt: The goal of this milestone is to apply project management skills acquired in the first three modules to a real-world project or situation. The analysis of the Fabricant Manufacturing Project case study (in Mindedge) should include an evaluation of the selection criteria, alignment with the organization strategic goals, project charter elements, project initiation approval, and stakeholder analysis (Template). Specifically the following critical elements must be addressed: I. Project Initiation A. Identify the economic, technical, and organizational feasibility of the project. For instance, how is the project a viable fit within the organization? B. Explain how the project aligns to the organization’s strategic goals utilizing the traceability matrix (in Mindedge). C. Develop a project charter that includes a high-level scope of what is to be accomplished. D. Create a high-level timeline and cost estimate to complete the project. E. Identify the concerns of the internal and external key project stakeholders. F. Compare the level of support from all key project stakeholders to inform the course of action resulting in success of the project. G. Complete the stakeholder analysis template. Guidelines for Submission: Your draft of the Project Initiation portion of your final project should adhere to the following formatting requirements: 3–4 pages, double-spaced, using 12-point Times New Roman font and one-inch margins. Utilize table(s) within your document as you create the high-level timeline and cost estimate. You should use current APA-style guidelines for your citations and a reference list with a minimum of two sources. Critical Elements Project Initiation: Feasibility Proficient (100%) Identifies the economic, technical, and organizational feasibility of the project and how the project is a viable fit within the organization Project Initiation: Strategic Goals Explains how the project aligns to the organization’s strategic goals Needs Improvement (75%) Identifies the economic, technical, and organizational feasibility of the project, but does not discuss how the project is a viable fit within the organization or is inaccurate or cursory Explains how the project aligns to the organization’s strategic goals, but explanation is inaccurate or cursory Not Evident (0%) Does not identify the economic, technical, and organizational feasibility of the project Does not describe how the project aligns to the organization’s strategic goals Value 10 15 Project Initiation: Project Charter Project Initiation: High-Level Timeline Develops a project charter that includes a high-level scope of what is to be accomplished and is detailed appropriately Creates a high-level timeline and estimate of cost to complete the project Project Initiation: Key Project Stakeholders Identifies the concerns of key project internal and external stakeholders Project Initiation: Support Compares the level of support from all key stakeholders to inform the course of action of the project Completes the stakeholder analysis template Project Initiation: Stakeholder Analysis Template Articulation of Response Submission has no major errors related to citations, grammar, spelling, syntax, or organization Develops a project charter, but does not include a high-level scope of what is to be accomplished Does not develop a project charter 15 Creates a high-level timeline and estimate of cost to complete the project, but response contains inaccuracies Identifies the concerns of key project internal and external stakeholders, but response either contains inaccuracies or is overgeneralized Compares the level of support from all key stakeholders, but discussion contains gaps or inaccuracies Completes the stakeholder analysis template, but template contains inaccuracies Submission has major errors related to citations, grammar, spelling, syntax, or organization that negatively impact readability and articulation of main ideas Does not create a high-level timeline or estimate of cost to complete the project 15 Does not identify the concerns of key project stakeholders 10 Does not compare the level of support from all key stakeholders 15 Does not complete the stakeholder analysis template 10 Submission has critical errors related to citations, grammar, spelling, syntax, or organization that prevent understanding of ideas 10 Total 100%
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Running head: PROJECT INITIATION

Project Initiation
Name
Institution
Date

PROJECT INITIATION
Fabricant Manufacturing has been given a project to replace the existing interior and
exterior lighting in the Fabricant warehouses, workspaces as well as the break rooms with the
modern lighting system. So as to ensure that the project is feasible for the organization, a review
of economic, technical as well as the organizational feasibility of the project is conducted as
below (Kerzner, H., & Kerzner, H. R.2017).
The economic feasibility assists an organization in assessing the viability, the cost and the
benefits related to a given project before allocating the financial resources. The main aim of the
project is to replace the current lighting system with the modern lighting system. The initial cost
of the project is estimated to be $310,000 whereby the incentives and rebates will be estimated to
be $245,000. Thus, the whole project will cost around $65,000. In addition, the project is
approximated to save more than 1.1 million kWh annually and $142,000 utility cost for each
year, with a return on investment (ROI) around 89%. The project has some risks such as; the cost
could be more than the estimate and the return on investment could be less but all the estimates
fit within the three primary objectives of the company.
Technical feasibility is explained as the assessment of technical...


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