Project Idea: Store Inventory Management System
Problem Statement: Retail stores around the world are having difficulty managing their inventory, resulting in overstocking and under stocking of products. They need a system that can help them keep track of their inventory levels, order history, and sales data, so they can make informed decisions about when to order more products and how much to order. Our goal is to present a Web-based Application system that can help companies keep track of inventory at all times to avoid this problem.
Project Management Techniques/Strategies: Agile project management, scope management, risk management, stakeholder management, project scheduling, cost estimation, Quality Management.
Chapter 1: Project Management Framework
Framework: Pruthul Patel
Feasibility Analysis: Jill Shah
Project Management Framework
A project management framework includes several core processes, including scope management, cost management, time management, quality management, risk management, and stakeholder management. These processes are essential for ensuring project success, and they are typically applied throughout the project life cycle. A project management framework is a set of processes, principles, and guidelines that provide a structured approach to managing projects. A typical project management framework consists of five main phases:
1. Initiation: This phase involves defining the project objectives, determining the project scope, and identifying stakeholders. The project manager is appointed, and the initial project plan is developed.
2. Planning: In this phase, the project team develops a comprehensive project plan that outlines the project schedule, budget, scope, and resources required. The team identifies risks and develops a risk management plan.
3. Execution: In this phase, the project plan is put into action, and the project team executes the project activities according to the plan. The project manager monitors progress and manages any changes to the plan.
4. Monitoring and Controlling: In this phase, the project team monitors project progress, identifies variances from the plan, and implements co
ective actions. This phase ensures that the project remains on track, within budget, and on schedule.
5. Closure: This phase involves formally closing out the project, completing final tasks, and obtaining project sign-off from stakeholders. The team conducts a project evaluation to identify areas of improvement for future projects.
Project Integration Management is a critical process that ensures all project components are properly coordinated and integrated to meet project goals and objectives. We as a team have been able to propose a detailed plan to efficiently monitor the inventory of retail stores. We are naming this application “InTrack'' which in simple terms means what the store has “in” refe
ing to overstock materials with them and what they need to order “in” refe
ing to understock materialsThe problem describes a common issue faced by retail stores worldwide - difficulty in managing their inventory.
To address the problem, the PMP framework can be utilized with the following project management techniques/strategies:
1. Agile project management: An Agile approach can be used to quickly develop and test the system, enabling the store to receive rapid feedback and make adjustments as needed. This methodology can be used to iteratively refine the system, with constant collaboration between the development team and the stakeholders.
2. Scope management: To effectively manage the project scope, a clear understanding of the inventory management requirements and objectives must be defined. The scope can then be
oken down into smaller, manageable components and delivered in iterative sprints using Agile methodology. The stakeholders should be involved in defining the scope and continuously reviewing and approving the work performed.
3. Risk management: Identifying and mitigating project risks is critical to ensure successful project delivery. Risk assessments should be performed regularly and appropriate risk response strategies developed and implemented.
4. Stakeholder management: Identifying and managing stakeholders is essential to ensure their needs and expectations are met. Effective communication with stakeholders will be critical to ensure the success of the project. Regular status updates, progress reports and demos will be shared with stakeholders to ensure their expectations are aligned with the project's progress.
5. Project scheduling: A project schedule should be developed, outlining key milestones, deliverables, and timelines. Using an Agile approach, the project schedule should be reviewed and adjusted as needed at the end of each sprint.
6. Cost estimation: Accurate cost estimation and budget management is essential for project success. The cost estimate should include development, testing, and deployment of the system, as well as maintenance and support. The project team should regularly monitor actual costs against the budget and take co
ective actions as necessary.
By utilizing the PMP framework with the above project management techniques/strategies, the retail store can improve its inventory management and make informed decisions about when and how much to order, resulting in better control of their inventory levels and increased sales.
Chapter 2: Stakeholders and Scope Management
Scope Management: Sharad Patel
Stakeholders: Shanu A
ol
Scope Management Plan
Retail stores around the world are having difficulty managing their inventory, resulting in overstocking and under stocking of products. They need a system that can help them keep track of their inventory levels, order history, and sales data, so they can make informed decisions about when to order more products and how much to order. Our goal is to present a Web-based Application system that can help companies keep track of their inventory at all times to avoid this problem. Intrack will be able to track companies cu
ent inventory, log sales, based on sales and inventory reaching a certain number, and order is automatically placed for the product in question.
Acceptance/Use Cases:
1. App will provide an interactive front-end User Interface that will collect stores cu
ent inventory, sales of day.
2. App will provide store managers with an overview of items sold that day and remaining inventory.
3. Based on previous sale history and cu
ent inventory, the app will suggest the optimal number of items to order for next time.
Deliverables:
1. Front-end Web Application.
2. Back-end Inventory Database.
3. Sales and Inventory based Algorithm to suggest order.
Assumptions:
1. All electronic resources are available for us to access at all times.
2. All development staff will be present for the duration of the project.
3. Application hosted on AWS based system.
4. Stores will provide Databases of their cu
ent inventory.
5. Funding will be available for all expenses, including salaries and technology costs.
Constraints:
1. We
Cloud based.
2. Deadline as per stakeholder requirements XXXXXXXXXXmonths)
3. Budget of $100,000.
4. Mandatory 2 quality checks per month.
Work Breakdown Structure:
Web-Application
1. Front-End
a. Home Login Page
a. Inventory Input
a. Sale History Input
a. Order Suggestion Page
a. Product Order Page
2. Back-end Inventory Database
. Oracle Enterprise Database / MS-Access / MySQL/ SQLite
. Input taken from Front-end Inventory/Sales Input Page
. Provide data to order suggestion algorithm
3. Order Suggestion Algorithm
c. Input from Inventory Database
c. Process the data using the inventory and sales history
c. Predict the order suggestion.
Milestones:
1. Requirements Gathering
2. Front-End development
. Build Login, Inventory and Sale History Input Pages.
. Build Order Suggestion and Product Order Page.
3. Back-End Inventory Database
c. Build Database to take input from Front-End
c. Output Inventory Data to Suggestion Algorithm
4. Order Suggestion Algorithm
d. Take input from the inventory database and process the data
d. Predict the items needed for the next orde
Stakeholder Management Plan
Stakeholder Registe
Name
Position
Internal/External
Role
Contact Info
Sharad Patel
Team Project Manage
Internal
Project Manage
XXXXXXXXXX
Shanu A
ol
Team Membe
Internal
Develope
XXXXXXXXXX
Jill Shah
Team Membe
Internal
Develope
XXXXXXXXXX
Pruthul Patel
Team Membe
Internal
Develope
XXXXXXXXXX
Retail Store(s)
Custome
External
Provide Requirements for project
XXXXXXXXXX
Cloud based Platform
(AWS)
Cloud Provide
External
Provide a Cloud platform for developers to work on.
https:
aws.amazon.com/contact-us/sales-support
Powe
Interest Grid
Stakeholders Analysis
Name
Powe
Interest
Cu
ent Engagement
Potential Management Strategies
Sharad Patel
High/High
Actively Engaged
Dedicated and highly involved individual. He is leading the project, so has to be in the loop for each part of the project.
Shanu A
ol
Medium/High
Actively Engaged
Dedicated and also has high interest in the project. Cu
ently involved in other projects as well, therefore it is not always necessary for him to be involved in every aspect of the project, with the exception of weekly team meetings,progress reports,etc..
Jill Shah
Medium/High
Actively Engaged
Experienced in the field and also high interest in the project. Must be kept in the loop as often as possible.
Pruthul Patel
Medium/High
Actively Engaged
Experienced and creative. Always open to new ideas and
ings innovative ideas to the table. Keep in the loop to decide new and different features.
Retail Store(s)
High/Low
Actively Engaged (For project start)
Lots of power to change features and requirements. But not necessary to keep in the loop after requirement gathering.
Cloud based Platform
(AWS)
Low/Low
Passively Engaged
Resource provider to host the app. No need to keep in the loop. Only needed if a problem occurs while hosting.
Expectation management Matrix
Measure of Success
Priority
Expectations
Guidelines
Scope
1
Retail Stores will easily be able to keep track of inventory and place the next order when required as suggested by application.
Scope will need to be flexible since each retail store (customer) will have their own requirements/expectations.
Time
1
Strict Deadline will be provided.
Retail stores will provide a budget, therefore each will require a strict deadline inorder to start/update their business to this better system.
Cost
2
Budget will roughly be $100,000.
The budget may be flexible for different customers as per their store size and requirements.
Technology
2
To improve on cu
ent systems, our application must first understand cu
ent retail store inventory technologies (if any exists).
Since our system will rely on external cloud based technology, we must have a strict guideline for the retail store to accept going this route.
Issues Logs
None for now.
Slide 1
PMP Prep – Communications XXXXXXXXXXSlide 1
Session 5
PROJECT COMMUNICATIONS MANAGEMENT
1
PROJECT COMMUNICATIONS MANAGEMENT
WHAT DOES THE COMMUNICATIONS KNOWLEDGE AREA DO?
It employs the processes required to ensure timely and appropriate
generation, collection, distribution, storage retrieval, and ultimate
disposition of project information
These processes provide the critical links among people & information
that are necessary for successful communications.
Project managers spend the majority of their time communicating with team
members and other project stakeholders, whether they are internal or
external to the organization.
Effectively deals with stakeholders' information needs.
PMP Prep – Communications XXXXXXXXXXSlide 2
2
COMMUNICATION SKILLS
COMMUNICATION SKILLS
Most communication skills are common for general mgmt. and project
mgmt., such as, but not limited to:
Listening actively and effectively,
Questioning, probing ideas and situations to ensure better
understanding,
Educating to increase team’s knowledge so that they can be more
effective,
Fact-finding to identify or confirm information,
Setting and managing expectations,
Persuading a person or organization to perform an action,
Negotiating to achieve mutually acceptable agreements between
parties,
Resolving conflict to prevent disruptive impacts, and
Summarizing, recaping, and identifying the next steps.
PMP Prep – Communications XXXXXXXXXXSlide 3
3
COMMUNICATIONS PROCESS
COMMUNICATIONS PROCESS DEFINITIONS
10.1 Identify Stakeholders
• Identify all people or organizations impacted by the project, and documenting relevant
information regarding their interests, involvement, and impact on project success.
10.2 Plan Communications
• The process of determining the project stakeholder information needs and
defining a communication approach.
10.3 Distribute Information
• The process of making relevant information available to project stakeholders as
planned.
10.4 Manage Stakeholders Expectations
The process of communicating and working with stakeholders to meet their needs and addressing issues as they occur.
10.5 Report Performance
The process of collecting and distributing performance information, including status reports, progress measurements, and forecasts.
PMP Prep – Communications XXXXXXXXXXSlide 6
4
COMMUNICATIONS PROCESSES
PROCESSES BY PROCESS GROUP
PMP Prep – Communications