Project Management- MGMT412 - 1304B - 01 unit 1 Essay

Project Management- MGMT412 - 1304B - 01 unit 1 - Essay Example The project sponsor in this project should be the company’s Finance manager since he is in charge of the organization’s financial expenditure. The finance manage is in a position to decide on the budget and liaise with all project stakeholders on the implementation of the project. The project manager in this case will be the marketing manager since he/she is in charge of the department that initiated the project. The marketing department understands the market and the product functionalities inside out and they should be in charge of this project (Wiener, 2011). The project is supposed to introduce a new plastic product that will make the company competitive in the realization of its goals. The project is expected to take a period of nine months in the process lay a foundation for the inception and production of new products. The project will be implemented through the use of a project charter which is a program that highlights the major requirements, scope, deliverable s and timelines to be met by the project. The project charter is important due to various reasons such as: a) It aligns the goals of the project with major players such as stakeholders and sponsors. b) It ensures the project is run on schedule and budget since it acts as a guide on the specifics to be achieved by the project. c) In case the project charter is not followed the project might run into problems such as being over budget, run out of scope and eventually stall or halt. Project Charter The document below highlights the major milestones and work that the project will intend to achieve through the project charter. Project Background: Winsome Manufacturing Company intends to come up with a huge room-sized outdoor plastic container that will be sold to its loyal customer base. This product concept idea was initiated by the marketing department after conducting research and testing the market (Gido, 2009). Project Rationale: This project is expected to add more products to the ones currently produced by the company. Moreover, the project will meet the needs of consumers who are in need of outdoor home storage that is cost effective and efficient (Lewis, 2010). As a result, the company has a business opportunity of meeting the needs of the consumers while increasing its product catalogue and revenues. Project Goals: This project is intended to come up with a finished product which is room-sized container to be produced in mass to be marketed to consumers. The marketing department wants to counter competition from a rival company that produces a similar product although no with superior features of the intended project (Wiener, 2011). Future goals of the project include production of add-on products as a result of the follow up on this project. The major goals are to generate additional revenue to the based on multiplicity of new products derived from the current project. Project Scope: The major highlights that will mark the success of this project are: a) Come up with new designs based on requirements identified by the project stakeholders. b) Agree with stakeholders and project sponsors on appropriate budget. c) Ensure project timelines and budget is achieved. d) Come up with a product marketing and sales strategy. e) Plan and prepare for add-on products that will support the main product. Project Assumptions: In the implementation of this project, various assumptions will be made such as; a) Designs and product