JP_Red Bank Case Study
J.P - Red Bank Project
The Red Bank is a key player in Australia financial market. With
consideration of continuous raise of cash rate, the Red Bank plans to
improve its risk management practice in loan approval and repayment
control. J.P Consultancy upholds its exceptional world- wide reputation
in providing financial consultation services and advice to commercial
anks. Therefore, when the Red Bank approaches J.P to seek its
services, J.P’s Business Development Executive (Lachlan Smith)
suggested a four-month end to end project to assist the Red Bank to
eform its risk management system, processes and practices.
The objectives for the project include: (1) to research and customise a
isk management framework for the Red Bank; (2) to on-site deliver the
newly designed risk management framework and ensure the
implementation in the Red Bank; (3) to evaluate the new framework and
eady for whole organisation rollout.
The project contains five phases and multiple hurdles to be crossed. A
drafted action list is presented in Table 1. Potential budgetary allocation
is suggested in Table 2. J.P has a sufficient talent pool, and many
capable staff could be assigned to this project. The available staffing mix
is shown in Table 3.
Your tasks:
This case study provides you with an opportunity of drawing on you
acquired project planning, scheduling, budgeting and quality
management skills and materials covered in this course. You are
esponsible for addressing all tasks and requirements listed in Section 1
and Section 2, in addition to Assessment
iefs, according to the case
study.
Instructions
1. Study the assigned Case Study provided on Blackboard by your Learning Facilitator.
2. Analyse the project from your own perspective as an up-and-coming project manage
3. Devise your own, individual set of subsidiary Project Management plans for Schedule
and Cost based on the assigned Case Study.
a. Although all students will receive the same case study, you are
expected to complete this task individually.
. These project schedule and cost management plans and supporting
documentation must contain, but are not limited to, the following components:
● Description of Estimation Methods, and Tools and Techniques fo
managing Schedule/Budget
● Overview of Schedule and Budget Methodology
● Network Diagram using the Critical Path Method
● Project Schedule
● Cost Baseline
● Project Budget, including detailed estimates and cost control methods.
4. Write 1500 words and describe the processes, tools and techniques applied in you
schedule and cost management plans, as well as a justification of your budget and
schedule.
5. You can use the templates in this subject’s Learning Resources or create your own
templates to devise the subsidiary cost and schedule project management plans.
6. Submit a schedule and a network diagram using the critical path method (CPM).
Scheduling software such as ProjectLi
e or Microsoft Project can be used to design
your schedule. Alternatively, you can hand-draw and scan your network diagram.
2-1) Project Scheduling
● Construct an original Gantt chart for the project using project activities given in
Table 1.
● Conduct a critical path analysis and carefully apply the 3-point estimate
technique on identified critical activities to develop an estimated project
schedule.
It is assumed that all critical activities will accelerate 15% if Project team
performs the best efficiency. On the other hand, without an appropriate
collaboration or control, the entire durations from Phase 3 will creep by 30%.
2-2) Cost management planning
● Develop and aggregate the cost of resources needed to complete each
activity, and determine the detailed budget of the project. Your cost estimation
must incorporate relevant resources given in Table 3 for each phase of the
given activities. Develop and justify the resource allocation and cost
management planning components in your Cost Management Plan.
● Present your final budget to the client: the Red Bank, and ensure 30% of the
profit (before tax) as minimum for J.P. Assume Red Bank will agree to pay
maximum $200K for the project. Both detailed cost estimation and a baseline
must be produced in alignment with the project schedule.
● Assume it is now the 20th day into Phase 4: On-site delivery, perform an
Earned Value Analysis (EVA) to demonstrate the project progress. (Bonus
item
Table 1 – The Project Activities
ID Descrip
tion
Duratio
n
(Day)
Predecesso
Phase 1: Project engagement setting
1.1 Touchpoint to J.P BDE for potential services 3 NA
1.2 J.P. consultant internal
iefing XXXXXXXXXXSS+1)
1.3 Client meeting for problem
isk identification 12 1.2
1.4 Agreement and contract with cooling off
period of 5 days
XXXXXXXXXX
Phase 2: Structure a J.P Project Team
2.1 Lachlan Smith appoints Project Manager XXXXXXXXXXSS)
2.2 Project manager forms a team 15 2.1
2.3 Project team skills mapping XXXXXXXXXX
2.4 Conduct Project team and Consultant
workshops
10 2.3
2.5 Assign and agree responsibilities XXXXXXXXXXFF+2)
Phase 3: Production plan
3.1 Assessment of Red Bank risk management
maturity level
XXXXXXXXXXSS+8)
3.2 Analysis of the Enterprise Risk Register 5 3.1
3.3 Research cu
ent risk management practicein industry and similar consultancy projects XXXXXXXXXXSS+2)
3.4 Customise a risk framework for the Red Bank 6 3.3
3.5 Modify existing frameworks to fit in the new
one
3 2.5 FF, 3.4
3.6 Check APRA compliance XXXXXXXXXXFF)
3.7 Finalise the product XXXXXXXXXX
Phase 4: On-site (Red Bank) delivery
4.1 Presentation and validation of the J.P-Red
Bank risk framework
3 3.7+3
4.2 Explain implementation roadmap 2 4.1
4.3 Key risk management personnel nomination 5 4.2
4.4 Conduct Responsibilities workshops XXXXXXXXXXSS)
4.5 J.P and Red Bank system integration and
adaption
20 4.4
4.6 De-bug (discrete work XXXXXXXXXXFF)
4.7 Launch and manage a Pilot work 5 4.6
4.8 Project de-
ief for Red Bank senio
management
2 4.7 (FF)
Phase 5: Lessons Learned and Closure
5.1 Evaluation platform set-up 5 4.6
5.2 Lessons learned data collection J.P 10 5.1
5.3 Lessons learned data collection Red Bank XXXXXXXXXXSS)
5.4 Problems solving and/or disputes 5 5.2
5.5 Closure and Sign-off 1 5.4
Table 2: Budget Allocation Suggestion
Project phases Budget percentage
Phase 1 15
Phase 2 10
Phase 3 30
Phase 4 35
Phase 5 10
Table 3: Staffing Mix in J.P
Position
Rate
Name
Nathan B Elva S Mark F Yuki Y Muchi A Amed H Howard O David W Salina C
Full time
Part time
FT FT FT PT PT PT FT FT FT
Hourly rate
Paid (AUD$)
XXXXXXXXXX 35 35
Hourly rate
Charged
(AUD$)
XXXXXXXXXX XXXXXXXXXX
Senio
Project
Manage
X
Project
Manage
X
Risk
Consultant
X
Compliance
office
X
Graphic
designe
X
System
Process
merge
X
Senio
Project
Office
X
Project
all-rounde
X X X X X
Assessment_4_Brief_Plans
Subject Code and Title : Project Planning and Budgeting
Assessment Project Schedule and Cost Management Plans
Individual/Group Individual
Length 1500 words
Learning Outcomes The Subject Learning Outcomes demonstrated by successful
completion of the task below include:
a) Evaluate and apply a range of project management
tools, techniques and practices to diverse global
projects.
) Evaluate budgetary and planning outcomes against
project success measures, including stakeholde
expectations.
c) Develop effective communication methods to
articulate planning outcomes to key stakeholders.
Assessment Task
Devise project schedule and cost management plans that articulate the schedule and cost approaches
for a project using the assigned project case study provided by your Learning Facilitator.
Please refer to the Instructions for details on how to complete this task.
Context
The backbone of a project manager’s work is the Project Management Plan. This plan is the
document that describes how the project will be executed, monitored and controlled. It integrates
and consolidates all of the subsidiary plans and baselines from the planning processes. In this
assessment, you will create subsidiary cost and schedule components of a Project Management Plan
for your assigned Case Study.
Project Schedule Management includes all the processes of planning, estimating, sequencing,
managing, and controlling the schedule for a timely completion of the project.
Project Cost Management includes the processes of planning, estimating, budgeting, financing,
funding, managing and controlling costs so that the project can be completed within the approved
udget.
Instructions
1. Study the assigned Case Study provided on Blackboard by your Learning Facilitator.
2. Analyse the project from your own perspective as an up-and-coming project manage
3. Devise your own, individual set of subsidiary Project Management plans for Schedule and
Cost based on the assigned Case Study.
a. Although all students will receive the same case study, you are expected to
complete this task individually.
. These project schedule and cost management plans and supporting documentation
must contain, but are not limited to, the following components:
● Description of Estimation Methods, and Tools and Techniques for managing
Schedule/Budget
● Overview of Schedule and Budget Methodology
● Network Diagram using the Critical Path Method
● Project Schedule
● Cost Baseline
● Project Budget, including detailed estimates and cost control methods.
4. Write 1500 words and describe the processes, tools and techniques applied in your schedule
and cost management plans, as well as a justification of your budget and schedule.
5. You can use the templates in this subject’s Learning Resources or create your own templates
to devise the subsidiary cost and schedule project management plans.
6. Submit a schedule and a network diagram using the critical path method (CPM).
Scheduling software such as ProjectLi
e or Microsoft Project can be used to design you
schedule. Alternatively, you can hand-draw and scan your network diagram.
Referencing
It is essential that you use the most recent APA style for citing and referencing research. Please see
more information on referencing in the Academic Skills webpage.
https:
li
ary.to
ens.edu.au/academicskills/apa/tool
Sheet1
STEP 1 FROM TABLE (SIMILAR TO TABLE 3) FROM SNYDER
Resource $/hour $/day (8 h) $/week (5d) WBS ID Q Wks Resource Direct Cost Indirect Cost Activity Contingency Reserve Estimate Method Assumptions/Constraints SUBTOTAL
Facilitator $ 45.0 $ XXXXXXXXXX $ 1,800.0 1.0 1 2 Education Manager $ 5,200.0 $ 5,200.0 Parametric 2 weeks $ 57,607.5
Speakers $ 70.0 $ XXXXXXXXXX $ 2,800.0 5 2 Education Staff $ 16,000.0 $ 16,000.0 Parametric 2 weeks
Education Manager & Department Managers $ 65.0 $ XXXXXXXXXX $ 2,600.0 2 2 Department Managers $ 10,400.0 $ 10,400.0 Parametric 2 weeks
Education Staff & HR Staff $ 40.0 $ XXXXXXXXXX $ 1,600.0 5 2 Staff representatives $ 12,000.0 $ 12,000.0 Parametric 2 weeks
AV Staff $ 38.0 $ XXXXXXXXXX $ 1,520.0 1 2 Facilitator $ 3,600.0 $ 3,600.0 Parametric 2 weeks
Facilities Staff $ 35.0 $ XXXXXXXXXX $ 1,400.0 1 2 Project Manager $ 4,800.0 $ 4,800.0 Parametric 2 weeks
Staff representatives $ 30.0 $ XXXXXXXXXX $ 1,200.0 2 Recruitment (Facil+PM) $ 4,000.0 $ XXXXXXXXXX $ 4,400.0 Expert Only recruit once
Orientation Task Force $ 90.0 $ XXXXXXXXXX $ 3,600.0 1 2 Overheads $ 1,150.0 $ 57.5 $ 1,207.5 Parametric & Analagous N/A
IS Trainer $ 42.0 $ XXXXXXXXXX $ 1,680.0 2.0
Project Manager $ 60.0 $ XXXXXXXXXX $ 2,400.0 3.0
STEP 2
OTHER $/day $/week $/Instance Cost Estimate Technique
Direct Costs
Training venue $ 5,000 $ 25,000 Expert Judgement
Video Conference App $ 1,000 Analogous
Audio-visual equipment $ 5,000 Analogous
Recruitment Consultant $ 2,000 Expert Judgement
Indirect Costs (Overhead)
Utilities $ 15 $ 75 Parametric
Office rent $ 500 Analogous
$ 575
EQUIPMENT
MATERIALS
Sheet2
Task (WBS) SUBTOTAL Jan Feb March Apr Jul
1. Orientation task force launched $ 57,607.5 $ 57,607.5
2. Compile orientation evaluations for areas of improvement $ 35,000.0 $ 17,500.0 $ 17,500.0
3. Evaluate the Prepared Proposal $ 25,000.0 $ 20,000.0 $ 5,000.0
4. Orientation Presentations Enhancement $ 1,000.0 $ 1,000.0
5. Review evaluation tool to measure outcomes $ 1,000.0 $ 1,000.0
6. Facilitate physical changes necessary to orientation room $ 12,000.0 $ 12,000.0
7. Implement revised orientation program $ 5,000.0 $ 5,000.0
8. Evaluate feedback from the first orientation session $ 30,000.0 $ 30,000.0
9. Present findings to executive team $ 4,000.0 $ 4,000.0
10. Evaluate feedback from the initial six orientation sessions $ 30,000.0 $ 15,000.0 $ 15,000.0
11. Develop continuous process improvement process for feedback results $ 15,000.0 $ 10,500.0 $ 4,500.0
TOTAL $ 215,607.5
SUM $ 93,607.5 $ 44,500.0 $ 48,000.0 $ 10,000.0 $ 19,500.0
BASELINE $ 93,607.5 $ 138,107.5 $ 186,107.5 $ 196,107.5 $ 215,607.5
Cost Baseline
Jan Feb March Apr Jul 93607.5 XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX XXXXXXXXXX
Example of Critical Path Analysis
S.
No.
Activities Predecessors Duration
in days
1 A NONE 14
2 B NONE 3
3 C 1 7
4 D 1,2 3
5 E 3 4
6 F 4,5 10
Forward Pass Backward Pass