CALMAT BUS528 - Project Management

CALMAT Project Management course provides an opportunity for me to enhance my basic project management skills. Indeed this course will help me to deliver smarter solutions on time within budget and demand.

 



Project Charter Fall 2012 (Draft)

Project Name: CALMAT MBA & CSIT New Student Orientation 8/25/2012

Sponsor: Recruitment and Admission Department

Approver Name:

Approver Title:

Project Manager:  

Today’s Date:

Project Description: The charter serves to announce the initiation of the CALMAT 2012 orientation event project. We are undertaking this project by welcoming new students, mostly in MBA and CSIT graduate program at the fall of 2012 semester. The purpose of this project is for the students to be acquainted with the CALMAT learning model, registration process, and individual learning plan, etc.

Prepared By

Document Owner(s)	Project/Organization Role

Project Charter Version Control

Version	Date	Author	Change Description
		[Replace this text with the name of the Document Owner.]	Document created
		[Replace this text with the name of the Change Owner.]	[Replace this text with a list of changes for this Owner on this Date and Version.] ·      [Change 1] ·      [Change 2] ·      [Change n]

 
PROJECT CHARTER PURPOSE

[Replace the following text with your own statement of the Project Charter Purpose, or use the provided sample text.]

The project charter defines the scope, objectives, and overall approach for the work to be completed. It is a critical element for initiating, planning, executing, controlling, and assessing the project. It should be the single point of reference on the project for project goals and objectives, scope, organization, estimates, work plan, and budget. In addition, it serves as a contract between the Project Team and the Project Sponsors, stating what will be delivered according to the budget, time constraints, risks, resources, and standards agreed upon for the project.

1          PROJECT EXECUTIVE SUMMARY

[Replace this text with a high-level view of:

·        project goals

·        objectives

·        scope

·        assumptions

·        risks

·        costs

·        timeline

·        approach

·        organization]

2          PROJECT OVERVIEW

Welcome to CALMAT! Give an Orientation to CALMAT MBA and CSIT new and potential students.

·         Give them an overview of CALMAT MBA and CSIT programs;

·         Introduce the online program and in-person classes as CALMAT flexible education model and policy;

·         What CALMAT can help the students for their education and future careers;

·         Provide physical environment to help students to gain more on-hands knowledge;

·         Provide special knowledge from invitation from special topic speech;

·         Create a bridge between students and business opportunities.

·         Gain feedback for improvement.

3          PROJECT SCOPE

3.1      Goals and Objectives

Goals	Objectives
Successful New Student Orientation within Approval Budget	1.

3.2      Departmental Statements of Work (SOW)

Departmental SOW	Owner/Prime	Due Date/Sequence

3.3      Organizational Impacts

Organization	Impact to and Participation of Organization

3.4      Project Deliverables

Milestone	Deliverable
1.     [Milestone Description]	·         [Deliverable 1—description] ·         [Deliverable 2—description] ·         [Deliverable n—description]
2.     [Milestone Description]	·         [Deliverable 1—description] ·         [Deliverable 2—description] ·         [Deliverable n—description]
3.	·

3.5      Deliverables Out of Scope

[Replace this text with a description of key logical areas not considered part of the boundaries of this project. Examples of these Out-of-Scope Deliverables may include data, processes, applications, or business management.]

3.6      Project Estimated Costs & Duration

Project Milestone	Date Estimate	Deliverable(s) Included	Confidence Level
[Milestone 1]	[mm/dd/yy]	[Deliverable 1] [Deliverable 2]	[High/Medium/Low]
$50	[mm/dd/yy]	Invitation to all students and guests	[High/Medium/Low]
$100		Decoration and Set up
$400		Food and Beverage
$200		Gifts for New Students

4          PROJECT CONDITIONS

4.1      Project Assumptions

·        [Assumption 1]

·        [Assumption 2]

·        [Assumption 3]

4.2      Project Issues

Priority Criteria

1 − High-priority/critical-path issue; requires immediate follow-up and resolution.

2 − Medium-priority issue; requires follow-up before completion of next project milestone.

3 − Low-priority issue; to be resolved prior to project completion.

4 − Closed issue.

#	Date	Priority	Owner	Description	Status & Resolution
1	[mm/dd/yy]			[Issue 1 description]	[Replace this text with Status and Proposed or Actual Resolution.]
2	[mm/dd/yy]			[Issue 2 description]	[Replace this text with Status and Proposed or Actual Resolution.]

4.3      Project Risks

#	Risk Area	Likelihood	Risk Owner	Project Impact-Mitigation Plan
1	[Project Risk]	[High/Medium/Low]		[Replace this text with a description of the Mitigation Plan.]
2	[Project Risk]	[High/Medium/Low]		[Replace this text with a description of the Mitigation Plan.]

4.4      Project Constraints

·        [Replace this text with a description of a Constraint.]

·        [Constraint 2]

·        [Constraint 3]

5          Project Structure Approach

[Replace this text with a description of how the project will be structured and what approach will be used to manage the project.

·        What are the dependencies of the project?

·        How will you Plan and Manage the project?]

6          Project Team Organization Plans

Project Team Role	Project Team Member(s)	Responsibilities
	Christine Lambarte
	Christina Oldham
	Zhengxian
	Jian J. Shi
	Wayne Shi
	Darren Tay

7          PROJECT REFERENCES

Milestone	Deliverable
[Name of Document/Reference]	[Description with available hyperlinks]

8          APPROVALS

Prepared by     __________________________________

Project Manager

Approved by    __________________________________

Project Sponsor

__________________________________

                                Executive Sponsor

__________________________________

Client Sponsor

9          APPENDICES

9.1      Document Guidelines

9.2      Project Charter Document Sections Omitted

Entrepreneurship: Chapter 11

CHAPTER 11: SMALL BUSINESS MARKETING: STRATEGY AND RESEARCH

• Explain the importance of marketing to small businesses
• Marketing involves all the points of contact between your small business and your customers.
• Marketing is how you find out what they want and need. it is how they are treated by you and everyone in your business. it is how you communicate with them through selling and advertising.

• Describe the process of developing a small business marketing strategy
• Market segmentation is needed because no business can possibly be everything to everyone. Segmenting involves breaking down a population into target markets that have a common want ot need that the business can satisfy. Target markets are the focus of a company's marketing efforts.

• Discuss the purpose of the market research process and the steps involved in putting it into practice
• Market research provides information about the poeple who are buying the productsof a business. Conditions change, and the owner of a business must know about those changes to be proactive and maintain a competitive advantage.
• The steps of the market research process include problem identification, development of a plan, data collection, data analysis, and drawing conclusions. Market research can provide valuable information regarding people's current taste, preferences, and expectations.
• It is useful in fine-tuning products that already exist for markets that are already known.

Question:  What would happen to a business without a marketing strategy? Why?

Answer: A business without a marketing strategy is like a traveler without an itinerary. They may arrive somewhere, but whether that destination will represent the best value for them is questionable. Businesses without marketing strategies may find that their efforts are focused on the wrong audiences. They might not interested in their products, or failing to focus on those that might be. In addition, businesses without marketing strategies may be using the wrong communication tools and conveying the wrong messages. Ultimately, their results will be caused by lack of focus and direction.      

My View: A marketing strategy is something that every business needs. I believe it does not matter whether it is a small or big business that they must have at least a draft in place. Otherwise, a business with no marketing strategy is like an owner prays for good luck daily hope its business turns out to be profitable.

Entrepreneurship: Chapter 10

CHAPTER 10: THE LEGAL ENVIRONMENT

• Name the laws and regulations that affect small business
• Laws and regulations exist to protect competition, consumers, people in the workplace, and intellectual property; to allow bankruptcy; and to establish contracts.
• Specific laws that owners of small businesses should know include the Fair Labor Standards Act, the Civil Rights Act of 1964 and 1991, the Immigration Reform and Control Act, the Americans with Disabilities Act, workers' and unemployment compensation, and Occupational Safety and Health Act.

• List and explain the types of bankruptcy
• The U.S. brankruptcy code is made up of nine chapters, only three of which apply to most small businesses (chapter 7, 11, 13).
• Chapter 7 use liquidation meaning that the business ceases to exist in an effort to provide the debtor with a fresh start. Liquidation involves selling all of the business assets and nonexempt personal assets and then distributing the proceeds among creditors.
• Chapter 11 and 13 allow the business owner to file a reorganization plan with the court that offers protection from creditors until the debt is satisfied.

• Descibe the elements of a contract
• For a contract to be legally binding. It must have a legal purpose.  Both parties must come to an agreement including a legitimate offer and a legitimate acceptance of that offer. Consideration, or something of value, must be exchanged. Finally, all parties must have the capacity to enter into a binding contract, meaning that they must not be underage, intoxicated or of diminished mental ability.

• Discuss how to protect intellectual property
• Patents, copyrights, and trademarks are legal ways to protect intellectual property.
• A patent grants an inventors the exclusive right to make, use, and sell an invention for a period of 17 years.
• A copyright provides legal protection against infringement of an author's literary, musical, or artistic works.  Copyrights usually last for the author's life plus 50 years.
• A trademark is a legally protected name, term, symbol, design, or combination of these elements used to identify products or components. Trademarks last for as long as they are in use.

• My View: I am glad to learn more about the differences between copyright versus trademarks.  Trademarks protects any symbol that indicates the source or origi of the goods or services. For example, Starbucks protects its trademark logo by suing another China local franchise to misled consumer with almost identical logo. Consumers may make purchasing decision based on the logo reputation.Copyrights protects the specific creative expression of an idea. For example, painting, photographs, sculpture, writings, software, etc.

Entrepreneurship: Chapter 9

CHAPTER 9: SMALL BUSINESS FINANCE

• Determine the financing needs of your business
• List the assets required for your business to operate effectively
• Determine the market value or cost of each asset
• Identify how much capital you are able to provide
• substract the total of the owner-provided funds from the total of the assets required.
• This figure represents the minimum amount of financing required

• Define basic financing terminology
• to procure financing, you must understand the basic financing vocabulary. Each major form of capital (debt and equity) has unique terminology that defines the details underlying financing agreements.
• Each form of capital has pros and cons that make it more or less desirable to the entrepreneur under given circumstances.

• Explain where to look for source of funding
• The search for capital and the application process can be unsettling as you sort through the various sources of funds.
• Major sources of debt financing include commercial banks, finance companies, government lenders, and insurance companies. Sources of equity include partners, venture capital firms, angels, and stock offerings.
• Finding capital is one of the most important tasks you face in starting and managing a business
• A thorough understandingog the issues involved will enhance your chances of finding the best source for your business.

My View:  Cash is King!  Cash flow and funding are extremely critical for small business. Small business financing can be complicated and risky if the owner did not plan it well. The owner needs to do his/her homework and understand the business nature. When it comes to funding, he/she has to ask for the right amount from the right source at the right time.

Entrepreneurship: Chapter 8

CHAPTER 8:  ACCOUNTING RECORDS AND FINANCIAL STATEMENTS

Discuss the importance and uses of financial records in a small business

You need financial records so you can make managerial decisions on topics concerning how much money is owed to your business, how much money you owe and how to identify financial problems before they become serious dilemmas. Financial records are also needed to prepare your tax returns and to inform your banker and investors about your business’s financial status. Without accurate financial records, you cannot exercise the kind of clear sighted management control needed to survive in a competitive marketplace.

Itemize the accounting records needed for a small business

The accounting records of your small business need to follow the standards of generally accepted accounting principles (GAAP). From your source documents such as sales slips, purchase invoices, and check stub, you should record all the transactions in journals. Information from your journals should then be posted in (transferred into) a general ledger.  Financial statements like your balance sheet, income statement, and statement of cash flow are produced from the transactions in our general ledger.

Explain the ratios used to analyze financial statements

Ration analysis enales you to compare the financial condition of your business to its performance in previous time periods or to the performance of similarly sized businesses within your industry. Foru important types of financial ratios discussed in this chapter are:-

• liquidity (current and quick, or acid-test, ratios)
• activity (inventory, turnover, average collection period, fixed asset turnover, total asset turnover)
• leverage (debt and times interest earned)
• profitability ratios (net profit margin, return on assets, return on equity)

Illustrate the importance of and procedures for managing cash flow

Cash flow is the different between the amount of cash actually brought into your business and the amount paid out in a given period of time. cash flow represents the lifeblood of your business because if you do not have enough moeny to pay for your operating expenses, your are out of busienss.

•  My View:  When a small business well-funded by investors, it is important to hire a qualify accountant to keep the book clean & up-to-date. Investors rely heavily on the objectivity and integrity of those who prepare financial statements. When that fiduciary bond is broken, and the reliability of financial statements is called into question. In that case, any confidence that may have been invested in the reporting system is destroyed. In the eyes of the investor, it they cannot trust your financial statements, how can they trust you to continue leading the company.
  
  

Entrepreneurship: Chapter 7

CHAPTER 7: STARTING A NEW BUSINESS

The advantages and disadvantages of starting a business from scratch

When starting a business from scratch, you have no worry on any negative impact or unhappy customers, or bad debt credit from prior mistake to overcome, as if you compare with purchasing an existing business. Furthermore, you may enjoy your creation of a success business and pride of ownership. However, the risk of failure is higher for a startup because there are more uncertainties and variables regarding the market acceptance to your product.

The common types of new businesses and characteristics of fast-growth companies

New businesses include E-businesses, home-based businesses and part-time businesses have completely changed the small business landscape. Some of the small businesses are hyper growth companies. These companies are generally led by teams of seasoned people with prior experiences or entrepreneurial spirit people who turn their idea into a new business.

Evaluating potential startups and ideas

When a brand new product idea being introduce, you may have a great chance of success if people want and will buy your product. As the product progresses through the product life cycle, the window of opportunity closes, as more competition enters the market and it impacts the pricing and the profit margin may drop. Most people get their idea from prior employment or their hobbies turn into business or someone suggestions. Sometimes business ideas occur by chance.

Getting started

It is a big challenge to turn your dream into reality. You need to carefully plan and consider the costs of starting a new business, and they must analyze the market and competitive landscape to ensure the competitive advantage really exist and your product can really sell. Next, customer service is the basis for establishing a long-term relationship with customers. Startups have legal requirements. Entrepreneurs must file the business name with the state of origin and obtain local business licenses and any industry-specific permits required. They must also apply for a tax identification number to collect and process sales taxes.

My View: I founded a business from scratch many years ago. I started the business because I thought about creating wealth and reaching personal satisfaction. Based on my past experience, there are several important pros and cons considerations for starting a successful business. Besides of all the key elements mentioned in the textbook, I would say the #1 most essential for me to start a business is not money but to have a right partner and a right team from the beginning. If you have a right team, many obstacles can be gradually resolved over time.