MBA-FP6231_MarshallFranklin (1).docx - Running Head PROJECT ANALYSIS SELECTION AND CHARTER Project Analysis Selection and Charter MBA-FP6231 Project

MBA-FP6231_MarshallFranklin (1).docx - Running Head PROJECT...

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Running Head: PROJECT ANALYSIS, SELECTION AND CHARTERProject Analysis, Selection and CharterMBA-FP6231 Project Planning, Management and Financial Control
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PROJECT ANALYSIS, SELECTION AND CHARTER2Project Analysis, Selection and CharterAbstractHopkins & Associates is an oil and gas consulting firm with locations in four cities andapproximately 1000 people. In order to gain a competitive advantage and improve profits, thecompany has developed a strategy to create a new software that will be able to predict the ongoingeconomic value of petroleum reserves, which will enhance the value their engineers can provide.There are many issues related to developing a good information technology project plan. As withmany projects, the situation is not always clear, the expertise is not always available internally andthe organizational structure can be complex.Analysis of concerns about the project related to the stakeholders, project background or organizational context.Hopkins & Associates is a consulting company in the petroleum industry with a wholly owned computer services subsidiary called Hopkins Computing Services Inc. (HCSI). The company has developed a breakthrough strategy to implement a new three pronged software system that will revolutionize how economic modeling is conducted in the petroleum industry called PREsys. The owner, young Mr. “Hop” Hopkins, is infatuated with the idea, and sees it as a great way to live up to the reputation his father has already created within the petroleum industry. This system is also risky and not fully supported by all the key players at the company. In addition, there is no one working at HCSI that has the expertise and time to act as project manager, therefore an outside computer consultant will be hired for the job. There are some areas of concern about this project:1)Stakeholders – while Hop is the owner of the company, he spends more of his time traveling, golfing or talking to the media than he does internally. Larry, his most
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PROJECT ANALYSIS, SELECTION AND CHARTER3trusted advisor, runs the company and is very concerned about the rate of failure for new software systems. If this project is not implemented well it could seriously damage the company’s reputation. Balancing Hop’s eagerness to shine in the marketplace with the caution of launching a sub-par project will be a key factor in thesuccess of this project. Someone will need to manage Hop very closely to influence him toward quality instead of speed.2)Project Background – this project has multiple models that need to come together to create one overall economic analysis system. In reality, this is really four projects because each individual model needs to be created, and then the models all need to beintegrated into one system. Finally, this type of system does not currently exist in the marketplace so this type of innovation will take longer and likely cost more money than if Hopkins & Associates was merely copying or adapting an existing package.
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