Project Management Report Of DBS Bank Singapore †Free Samples

Question: Discuss about the Project Management Report Of DBS Bank Singapore. Answer: Introduction: DBS Bank Singapore is a part of the DBS Group Ltd. and they are a leading group of financial services in Asia (Dbs.com., 2017). DBS has been following complete and effective governance for promoting the long term sustainable practices. They have been trying to support the charity activities and help those who are in need. Project Overview The project is developed for ensuring that the Singapore DBS Bank would be able to send its 10 employees to a charity organization for ensuring their association with the charity activities. The supporting of the charity activities by DBS Bank would be implied for ensuring that the bank gives profound support to those in need. Project Scope Statement Project objective Acording to Fang and Marle (2013), the projects have certain objectives that are set for ensuring that the operations of the project are aligned on the same platform. The project of To send 10 internal employees of a company for a charity organization includes the following objectives, To develop the project of sending 10 employees of the Singapore based DBS Bank company to the charity organization To form the effective schedule plan along with risk management and communication planning Deliverables The deliverables for the project of To send 10 internal employees of a company for a charity organization include the following points, Development of the signed project charter and initiation documents by Wednesday, 20th December, 2017 A Project Schedule Plan approved by Monday, 8th January, 2018 A Communication Plan approved by Thursday, 18th January, 2018 A Risk Plan applied by Thursday, 1st February, 2018 Registration of the names of the 10 employees selected by Monday, 19th February, 2018 Dropping of the 10 employees at the charity organization by Monday, 12th March, 2018 Milestones The Milestones of the project of To send 10 internal employees of a company for a charity organization are given in the table below, WBS Task Name Duration Start Finish 1.5 Review and Sign off the documents 1 day Wed 12/20/17 Wed 12/20/17 2.1 Kick off meeting 1 day Thu 12/21/17 Thu 12/21/17 2.2.5 Plan is approved 1 day Mon 1/8/18 Mon 1/8/18 2.3.3 Implying accurate communication medium with appropriate stakeholders 3 days Mon 1/15/18 Wed 1/17/18 2.3.4 Approval of the communication Plan 1 day Thu 1/18/18 Thu 1/18/18 2.4.4 Risk Mitigation Strategies are implied 2 days Mon 1/29/18 Tue 1/30/18 2.4.5 Risk Control is applied 2 days Wed 1/31/18 Thu 2/1/18 3.1.2 A list of the active employees is made for charity event 2 days Mon 2/5/18 Tue 2/6/18 3.1.5 Registration of the names of the 10 employees selected 4 days Wed 2/14/18 Mon 2/19/18 3.2.3 Profiling the charity organization 4 days Mon 2/26/18 Thu 3/1/18 3.2.4 Dropping the 10 employees at the location 7 days Fri 3/2/18 Mon 3/12/18 4 Project is Closed 1 day Tue 3/13/18 Tue 3/13/18 Table 1: Project Milestones Technical Requirements The project requires transportation of the 10 employees to charity organization and it would require the proper documentation and transportation medium of the employees to the charity organization. Limits and exclusions The project is limited to the sending of the 10 employees to the charity organization and it is bounded by the budget of 50,000 dollars and time of 4 months. Review with customer The review with the customer can be done by the help of the feedbacks attained from them by the use of the surveys and post project review (Walker, 2015). The checklist would also help in evaluating the project in terms of the customer satisfaction and expectation. Project Priority Matrix The project priority matrix is developed for the implication of the time management and the integration of the number of platforms of the project (Fang Marle, (2013). The project priority matrix is helpful for the ranking of the basic project factors like cost, time, and scope in terms of their influence in the project. The priority matrix is formed for evaluating whether the factor would be treated as constrains, enhance, and accept for the project. Project Priority Matrix The project priority matrix for the project of To send 10 internal employees of a company for a charity organization has been shown below, Time Scope Cost Justification Constrain ? The overall cost of the project is limited to its budget and hence the budget of the project would act as a constrain Enhance ? The scope of the project can be enhanced and it would result in improving the development of the effective development Accept ? The time taken for the project is bound to be accepted by the project team Table 2: Project Priority Matrix Explanation of the Project Priority Matrix The project priority matrix is developed for the analysis of the factors of time, scope, and cost for the project of the To send 10 internal employees of a company for a charity organization. The priority matrix has shown that the time factor would have to be accepted by the project team members. The project schedule is estimated and the project team would have to abide by the schedule developed and the time taken for the development of the project. The scope of the project is formed for the integration of the project activities involvement. The project team members would have to enhance the scope of the project so that they can get maximum benefit from the project. The cost of the project is a constraint for the development of the effective project operations. The limited amount of the resources has resulted in causing the limitation of the project. Work Breakdown Structure Work Breakdown Structure is a modified chart diagram of the project activities list in a more classified and structured forms (Ruano?Mayoral et al., 2014). The integration of the sceptical form for the development of the structure for the project of To send 10 internal employees of a company for a charity organization can be formed for understanding the development of the profound development. Details of the work packages The project schedule of To send 10 internal employees of a company for a charity organization is developed by using the waterfall methodology. The phases of the project are Initial Phase, Planning Phase, Execution Phase, and Closure Phase. However, the work packages of the project are project initial phase, schedule planning, communication planning, risk management plan, selection of the 10 employees, and sending them for charity organization. The work package of project initial phase consists of analysing the requirements of the project, initial documentation, development of the charter documents, submission of the documents, and review and sign off the documents activities. The work package of schedule planning consists of selection of plan methodology, outline of the plan is developed, reviewing the plan outline, plan is completely developed, and plan is approved activities. The work package of communication planning consists of analysis of the requirements of the communication, s election of the communication medium, implying accurate communication medium with appropriate stakeholders, and approval of the communication plan activities. The work package of risk management plan consists of risk analysis, risk prioritization, risk mitigation strategies are developed, risk mitigation strategies are implied, and risk control is applied activities. The work package of selection of the 10 employees consists of selection of the choosing option, a list of the active employees is made for charity event, employees are analysed in terms of their interest in charity, 10 employees are selected, and registration of the names of the 10 employees selected activities. The work package of sending them for charity organization consists of knowing the location of the charity organization, selecting the transportation medium, profiling the charity organization, and dropping the 10 employees at the location activities. Cost Estimation The cost estimation is developed for the approximation of the overall expenses that would be required for the project budget (Maleki, Ghaffari Masdari, 2014). The cost estimation can be done by the help of both top down and bottom up approaches. The top down approach used the cost estimation starting from the final deliverable or the project goal and it is divided into smaller chunks for calculation. The bottom up approach uses the resource cost estimation and adding them for forming the final deliverable for the project. Cost Estimation WBS Task Name Cost 0 To send 10 internal employees of a company for a charity organization $49,928.00 1 Project Initial Phase $8,000.00 2 Project Planning Phase $21,320.00 2.1 Kick off meeting $800.00 2.2 Schedule Planning $7,840.00 2.3 Communication Planning $5,880.00 2.4 Risk Management Plan $6,800.00 3 Project Execution Phase $19,808.00 3.1 Selection of the 10 employees $8,784.00 3.2 Sending them for charity organization $11,024.00 4 Project is Closed $800.00 Table 3: Top-down cost estimation Resource Name Work Cost Analyst 56 hrs $4,200.00 Documenter 80 hrs $6,000.00 Project Manager 40 hrs $4,000.00 Planner 88 hrs $7,040.00 Risk Analyst 80 hrs $6,800.00 HR Manager 144 hrs $13,968.00 Contractor 88 hrs $7,920.00 Table 4: Bottom-up cost estimation References Agarwal, V., Oxstrand, J. H., Le Blanc, K. L. (2014).Automated work packages architecture: An initial set of human factors and instrumentation and controls requirements(No. INL/EXT--14-33172). 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