Project Report: Establishing A Social Media Research Centre – Web Application Development

• Better – value will increase because the new research centre on social media is an unique
• Faster – faster analysis shall be possible by students due to huge data bank
• Cheaper – till we develop five start market rating, we need to work on very thin margin for few years
• Do more – looking at the demand study done by expert and break-even point of 2 years only, we can plan for its future growth
  • Potential areas of Impact:
    • Strategic: this project shall help in obtaining clear identity in professional market
    • Customer: due to high demand among students, 10 students may get enrolled for first year
    • Financial: let the student fees be Australian Dollar 2,500 per year / student, so by enrolling 10 numbers / year, total revenue per year = 25,000 per year, so break-even point is 2 years and after that organisation will generate profit of the project
    • Operational: there is an operational threat of again restarting of competitor organisation which has closed their business in same area
    • Social: this project can raise a clear identity in professional market

• 1^styear (15^th Feb 2018): revenue generation of Australian Dollar 25,000 by enrolling 10 students
• 2^ndyear (15^th Feb 2019): revenue generation of Australian Dollar 25,000 + 25,000 = 50,000, that is the payback is done by enrolling 10 more student
• 3^rdyear (15^th Feb 2020): revenue generation of Australian Dollar 25,000+50,000 = 75,000 by enrolling 10 more students. So profit generation of 25,000 AUD from third year
• 4^thyear (15^th Feb 2021): revenue generation of Australian Dollar 25,000+75,000 = 1,00,000 by enrolling 10 more students. So profit generation of 50,000 AUD from fourth year
• 5^thyear (15^th Feb 2022): revenue generation of Australian Dollar 25,000+1,00,000 = 1,25,000 by enrolling 10 more students. So profit generation of 75,000 AUD from fifth year and so on

• Clear identification of milestone and milestone exit points:
  • Start Date                                   : 1^stApril 2017
  • Informal group formation            : 25^thJune 2017
  • Completion Date                         : 30^thNov 2017
  • Enrolment of 10 numbers student: 15^thFeb 2018
  • Start of operation                         : 15^thFeb 2018
    • Inclusion of due dates for the deliverables
      • Supply and installation of vendor products must reach 1month before end of project date
      • Establishment of informal research group by 30^thJune 2017
• Factors should include a specific metrical comparison:
  • Enrolment of 10 numbers student by 15^thFeb 2018 (before the date of start of operation)

• Stakeholder No Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper	Name and Signature	Role and Responsibility	Position	Contact Information Save Time On Research and Writing Hire a Pro to Write You a 100% Plagiarism-Free Paper. Get My Paper
  1	Alex	Project approval	Sponsor
  2	David Wright	Senior executive of many programs	Sr. Executive
  3	Bruce	Overall responsibilities of many projects	Program Manager
  4	Myself	Overall responsibilities of project “Unique Social Media Research Centre”	Project Manager
  5	Sonia Reed	Collect data and information from event manager and upload to web page	Application Manager
  6	Event Manager	Collection of data and gathering of other related information	Event Manager
  7	Team Members	Discipline in charge of respective areas	Members
  8	Craig Bamworth	Provide expert comment on the project application development	International Expert
  9	Students	Master and Doctorial students shall do research work on social media	Customers

• Communication plan is developed to maintain cohesiveness among the team members and top executives of our organisation. There should not be any communication gap between the employees of all hierarchy verticals. To reduce conflict among team members the communication plan is being developed. Stakeholder’s need is to be understood before passing on any information to them. There should be both way communications among all verticals to maintain equal flow of information and motivate team members.

  All lateral and downward communication may be formal or informal written and verbal method, but the communication with upward vertical must be done through formal written and verbal. All formal verbal communications must have written back up documents like minutes of meeting, action plan list, etc.

  In case of any changes in scope, time, cost and quality following process flow diagram for the proper flow of document must be maintained and followed by all team members.

Reference

Hayes, D. S. (2000). Evaluation and application of a project charter template to improve the project planning process. Project Management Journal, 31(1), 14—23.

USA. U.S. Department of Health & Human Services. (2017). Communication Management Plan.

https://www.hhs.gov/ocio/eplc/EPLC%20Archive%20Documents/11%20-%20Communications%20Plan/eplc_communications_management_template.doc .