Project Charter on Social Media Research Centre†Free Samples

Question: Discuss about the Project Charter on Social Media Research Centre. Answer: Project Objectives In this section, objectives and scope of the undertaken project has been stated. There are huge requirement of scholarly researches that are required by many students in different fields. Many research or masters level or PhD level students seek for quality content related to their subject area. On the other hand there are less reliable and quality content available over the internet. Undertaken research centre will establish on social media theme. After analysis of several fields, in consultation with subject matter experts and after analysis of recent trend in research social media has been selected as research area. In recent time, one research centre working in closely related has ceased its operations and therefore this has opened scope of establishing new research centre. Undertaken project has many activities which include design and development of web application, establishing database for research centre and developing procuring software and hardware. These are primary deli verables of the undertaken project (Carli, 2012). In the under project of establishing social media research centre there are many stakeholders that are affected and will affect undertaken project. Main stakeholder of this project is students, members and experts who will be receiving benefits and providing benefits of scholarly articles respectively. There are many students at master and PhD level that requires fresh and quality academic journals, articles, papers, thesis and other scholarly research outputs. Another benefit that undertaken project provides is of providing platform to target audiences to interact with each other i.e. student and expert or professors. Recorded presentations, event publications, conference papers, journal papers and much other scholarly output will provide advantages to students. On the other hand, return in investment to sponsor company will be also be there since undertaken project will lead to higher revenue. Success factors of the undertaken project will be when defined objectives and outcome of project is achieved. When project is completed within defined maximum budget i.e. $ 50,000 and within decided time frame i.e. 8 months. Management desired revenue is generated and desired no of participants involve in newly established social media research centre. Then project is termed to be successful. Measurable Organisational Value Measurable organisational value is the technique which is used to establish or define value created from the undertaken project. Goal of undertaken project will be established with the measurable organisational value and success will be analysed with the same. Ultimate goal of present project is to establish social media research centre that provide scholarly research components to target stakeholders. In this section, areas where undertaken project will make impact in will be analysed and defined. Following are some desired area of impact: Customer- Students seeking social media scholarly components for their academic purposes are impacted at the most. Revenue from the customers will be increased since social media research centre are more favourable trend at present. Operational- Another area of impact that will create value for business organisation is their operational efficiency. Since web application will be developed along with intranet facility for uploading, software and hardware will make some impact on operational efficiency. Financial aspect- Financial aspect of business organisation will also get improved from the undertaken social media research centre. Revenue from students will get improved by becoming more members at the web application. Social- Society on the whole will be impacted from the undertaken project as the ultimate goal is to serve students and other stakeholders with more information related to social media. Strategy- Business strategy of business organisation will also get improved from the establishment of social media research centre as there will be enhance in efficiency in terms of business operations of providing scholarly readers notes or articles. Following values has been created from the undertaken project of establishment of social media research centre: Better- After establishing social media research centre, many experts and professors will be hired and they will become member at web application. Therefore this will improve quality of services in terms of scholarly articles and other output for students and other interested stakeholders (Jacks Palvia, 2014). Faster- From the undertaken project of research project, entity want to increase efficiency on terms of providing services through professors. Undertaken project will improve efficiency since they will be using web application and intranet for uploading scholarly articles for students. Measurable Organisational Value Matrix Stakeholder / Indicators Target Expectation Description Sponsor company Return on investment to be 12 % as target Beyond target sponsor company is expecting return on investment to be 15 % from the undertaken social media research centre. Sponsor company is the company that are investing financial resources in the undertaken project in consideration of return on investment. Therefore their expected return on investment (i.e. $ 50,000) is 15 % per annum. Experts and Professors 300 experts and professors to be associate with social media research centre. 500 experts and professors are expected to be associate with research centre. At present, company has 150 experts and professors with them but they expect it to be 500 after establishment of social media research centre. Market share Target increase in market share of organisation is 8 %. But on the basis of popularity of social media, management expects market share to be 17 %. At present market share of business organisation is 5 % and they expects it to be 15 % after establishment of research centre. Increase in revenue There should be 10 % increase in revenue with the establishment of new research centre. Management expect revenue to be increased by 20 %. Since new students at masters level, PhD level and other students of social media field will become members. They will be using more services of social media research centres. (Proposed Information Collection, 2014) Acceptance Criteria Following are acceptance criteria of undertaken project: Success Factor Specific deliverables Due dates Milestone Establishment of web application successfully that will become platform for exchange of services Web application October, 2017 Web application is implemented and start operating Integration of experts and professors Platform to experts and members at web application November, 2017 Initiating member or expert login Development of intranet system and integration model Intranet December, 2017 Intranet is developed Development of database Database in terms of scholarly articles and other papers has been developed December, 2017 Database integration with web application (Qu Cheung, 2012) Stakeholders List: Stakeholder can be an individual or group of people. The below mentioned can be considered to be the stakeholder of the project undertaken. Agencies: various agencies whose interest is involved in the project. Such agencies are the sponsoring agencies who will be sponsoring the project. Experts: services of experts are involved for building and offering their experience in different fields. Other experts are appointed for assessing the hardware, software, database, web application and network. Regulatory authorities or Government authorities: to check and provide approvals of the compliance of application of laws and regulations such external stakeholders are established. Vendors: the suppliers or the creditors of hardware, software, database material and other spare part or material required for implementing project activities are known as vendor (Davis, MacDonald White, 2010). Executive Members: the employees employed to work on the undertaken project are the executives. Managers: the managers are the ones whose minds is applied in the complete planning and processing of the project. They are the ones who are responsible for all the calculation, evaluations and the outcomes (Davis, MacDonald White, 2010). Buyers: the buyers will those who will buy the outcome of the research project ad use them in enhancing there working styles. Students: the ultimate use of the outcome of the project will be made by the students as they will use the social media research on the application used for it. Learning There are some drawbacks in this project which is to be considered and corrected: Scope of work: the scope of work which defined the limits of the project should be clear. The limits of the working process should be clear so that the force of work is concentrated on the targets only. Management of Risk: it is observed that with every research that there is always a risk associated with it. In order to combat the effect of the contingencies or the risks proper planning along with policies should be made. Prepare Communications Plan Following statement showing meetings held and minutes of meeting: Sr Participants of meeting Minutes of meeting / Purpose 1 Management and project manager What are the goals and objective of the undertaken project is the purpose of the meeting. 2 Project team meeting What course of actions is required to be undertaken and what are budget of the same i.e. deciding activities of project. 3 Management and project manager Communication of plan in relation to implementation of activities or actions for establishing social media research centre. Modification in the plan can take place in this meeting. 4 Project team meeting Any changes or modifications suggested in previous meeting shall be analysed and plan for mitigating the same will be developed. 5 Stakeholders meeting At this meeting plan and purpose of undertaken social media research centre development will be communicated to stakeholders of organisation. Approval from each stakeholder will be taken as sign off in this meeting. (Wen Qiang, 2016) Identification of stakeholders Sr. Stakeholders Responsible parties to receive information from 1 Executive members Management of business organisation, human resource and project manager of undertaken project 2 Sponsor Management, government officials, project manager 3 Experts and professors Application manager (Sonia Reed) and management 4 Legal authorities Management, project manager, project team members and human resource of organisation 5 Vendors Management and project manager 6 Human resource Project manager and members of project team (Heravi Trigunarsyah, 2015) Information to be shared In this section information that are required to be shared among project team members and with sponsors will be stated. Following are information to be shared: With project members: Project activities or future course of action to be undertaken, roles and responsibility of each team member, timeframe or deadline of each tasks and budget allocated to each and every activity will be share with project team. Information to be shared with Sponsor: Expected revenue from the undertaken project, timeframe of the project, budget of the project, repayment of schedule of the funds and return on investment on the funds of sponsor. Frequency of information exchange, location of information exchange, purpose of communicationand mechanism for communication Sr Meeting Location of Meeting Purpose of meeting or communication communication Mechanism Frequency of meeting 1 Management and project manager At registered office of business organisation Goal and objectives of the undertaken project will be decided Physical meeting (Frederick Zarndt, 2011) Monthly 2 Project team meeting Office premises of business organisation or at premises of project manager For exchanging information in terms of project activities and processes Physical meeting, or video calls Weekly 3 Management and project manager At premises of business organisation or office of project manager Analysis of undertaken project activities Physical meeting As needed 4 Project team meeting At premises of business organisation or office of project manager Modification in original project plan Physical meeting or emails Weekly 5 Stakeholders meeting At conference hall of hotel To communicate project plan to all the stakeholders and taking their approvals Physical meeting In every two months (Frederick Zarndt, 2011) Change Management This part of the report focuses on the management skills. Such management is required when there is any change that is to be made from the set standard of plan for the establishment of the social media research centre. If there is change that is needed to be done it is to be managed properly (Desmond, 2013). In this project the management escalation policies are used to define the role and responsibilities of the team and the need of the experts for the same. Some of the techniques which can be used for the same are: Issue logs: All the problems or difficulties which are faced to develop or run the implemented project shall be noted or recorded. This will help to resolve the problem because of which there is gap in the working. With the help of this technique the time that is required for the understanding and resolving the issue will be reduced to a great level. The details that shall be useful for such technique will be: Nature of problem: The nature of the problem that exist in the process is to be identified. Whether the problem associated is technical, process related or third party related. The identification will help in reduction of the same. Time keeping: The time when the problem occurred should be recorded. Authorised person: It is the responsibility of the authorised person to identify the proble and start the process to resolve the same. At the end, if there will be any changes in the variables of the project like the deliverables, the scope, the process or any other factor shall be communicated to the stakeholders of the undertaken project (Nolan, 2012). Meeting agenda Goal of each meetings held is to provide detailed analysis and to decide future course of actions and activities in the undertaken project of social media research centre. Another goal of meetings is to communicate plan related to undertaken project. If there is any modification in the planned actions or project plan then sit will be started here only. Objective of meetings is successfully analysing objectives of the project and scope of project is analysed in the meetings of parties of the project. Minutes of each meeting will be prepared and detailed discussion and agenda of each meeting will be stated in minutes. Minutes are the document that will be used to document goals, objectives and purpose of meetings and undertaken project. References Carli, V. (2012). W08-01 - The supreme project: Objectives and methodology. European Psychiatry, 27, 1. Davis, J., MacDonald, A., White, L. (2010). Problem-structuring methods and project management: An example of stakeholder involvement using Hierarchical Process Modelling methodology.(Author abstract). Journal of the Operational Research Society, 61(6), 893. Desmond, C. (2013). Management of change. Engineering Management Review, IEEE, 41(3), 12-13. Frederick Zarndt. (2011). Project management 101: Plan well, communicate a lot, and don't forget acceptance criteria. 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Enablers for Organizational Project Management in the Chinese Context. Project Management Journal, 47(1), 113-126.