Getting Commitment and Buy-In

GRADING RUBRIC MUST BE FOLLOWED

Develop a project procurement plan and cost estimate spreadsheet that reflects the goals and objectives for a chosen project. There is no page limit for this assessment.

Questions to Consider:

• What process is used in your own organization for deciding on a product or service?
  • For example, the time frame for ordering or policies and procedures that must be followed.
• What are the constraints, dependencies, and assumptions you must take into account in your project?
• Who are the vendors that can supply components related to your project?
• What specific issues are part of forecasting and determining cost and resources for your project?
• What are the sources of information that can be used for budgeting?
• What is the value of your project to everyone concerned?
• What is the probability that the information is correct? Would simulation increase the accuracy?

Develop a project procurement plan that reflects the goals and objectives for the project with the intent of getting commitment and buy-in from senior leadership. Continue using the scenario chosen in Assessment 1 to complete your project procurement plan. The audience for this assessment will be senior leadership/C-suite.

Step One: Preparation and Cost Estimate

Based on the project’s objectives in the workplace setting, you would use Microsoft Excel, Microsoft Project, or other appropriate software of your choice to forecast the budgetary requirements for the project. For the purposes of this assessment, use the Project Cost Estimate Template, linked in the Required Resources, as a guide for your forecasting.

As part of the budget:

• Define the constraints, dependencies, and assumptions.
• Forecast the time and resources required to coordinate the work and meet project objectives.

Step Two: Project Procurement Plan

Compose your document in the form and style that is appropriate for senior managers in the scenario you selected in Assessment 1. Be certain your written plan includes the following elements:

• Project goals and objectives.
• A description of the processes for conducting and administering procurements.
• Budgetary requirements: A summary of project cost estimates. Attach cost estimate spreadsheet as an addendum to your plan.
• A request for action.

Resources:

• Brüggen, A., & Luft, J. L. (2016). Cost estimates, cost overruns, and project continuation decisions. Accounting Review, 91(3), 793–810.
• Harrin, E. (2013). Shortcuts to success: Project management in the real world (2nd ed.). Swindon, UK: BCS.
  • Section1, “Managing Project Budgets.”
• Project Management Institute. Guide to the Project Management Body of Knowledge (PMBOK® Guide) — Sixth Edition and Agile Practice Guide. Newtown Square. PA. 2017.
• Project Management Institute (PMI). (n.d.). Retrieved from http://www.pmi.org/
• Meredith, J. R., Mantel, S. J., Jr., Shafer, S. M., & Sutton, M. M. (2017). Project management in practice (6th ed.). Hoboken, NJ: Wiley. Available in the bookstore.
  • Chapter 4, “Budgeting the Project,” pages 109–144.

Forecasting Resource Requirements

Review the following:

• Singh, M. (n.d.). Getting and estimating resource requirements. Retrieved from http://projectminds.com/Article15.html
• Meredith, J. R., Mantel, S. J., Jr., Shafer, S. M., & Sutton, M. M. (2017). Project management in practice (6th ed.). Hoboken, NJ: Wiley. Available in the bookstore.
  • Chapter 6, “Allocating Resources to the Project,” pages 186–233.

Project Procurement Plans

Review the following:

• Sundblad, D. (n.d.). Example of a procurement management project. Retrieved from https://business.lovetoknow.com/wiki/Example_of_a_…