MBA-FP6231_MarshallFranklin (6).edited.docx - Running head PROJECT ANALYSIS SELECTION AND CHARTER Dr Bill Burkett U01A1 Project Analysis Selection and

MBA-FP6231_MarshallFranklin (6).edited.docx - Running head...

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Running head: PROJECT ANALYSIS, SELECTION AND CHARTER 1 Dr. Bill Burkett U01A1 - Project Analysis, Selection, and Charter MBA-FP6231 January 28, 2018 Suzanne Regalado Capella University
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Running head: PROJECT ANALYSIS, SELECTION AND CHARTER 2 Introduction Organizations are implementing new products and processes that require using projects. The Project Management Institute (PMI) states project risk is "an uncertain event or condition that, if it occurs, has a positive or negative on a project's objectives" [ CITATION Tel141 \l 1033 ] New product development is an important value-creating process in all industries. Impacts of environmental changes are implementing changes to help speed products through development. Environmental factors are things such as customer and competitor influences, outside world influences and technology [ CITATION Pop10 \l 1033 ]. This report focuses on three parts. Part 1: Project Analysis Background/Organization Hopkins & Associates is a family engineering consulting firm, founded in the 1930s, in the oil and gas industry and is a leader in the market and largest in the world. They have offices in Houston (headquarters), Calgary, Tulsa, and Denver. Tulsa is where the firms largest office is, located downtown in the Hopkins Plaza. The company is a wholly-owned subsidiary and consists of divisions that report to Larry Jordan, a trusted engineer and old friend of the founder. The founder, Mr. Hopkins recently passed away and his only son known as Hop is an experienced engineer with many resources. Ken Summers, President of HCSI, presented his idea to Hop, Larry and board members about creating may computer models that can be linked together into a support system for the engineers. The concerns about the scope of this project are how big the project is that can be too risky and fail. If the project fails, it will be a disaster for the
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Running head: PROJECT ANALYSIS, SELECTION AND CHARTER 4 shareholders. Another concern is Ken was unsure as to finding the right project manager to lead the project [ CITATION Dav05 \l 1033 ]. Stakeholders The two key players for the firm are Jack Croket and Ern Stinson who are both supervisors that manage the daily activities of a few dozen engineers. The key stakeholders for the firm are Presidents, Directors, and Managers [ CITATION Dav05 \l 1033 ]. Other stakeholders are from the organization's supply chain such as users, investors and surrounding areas that may be affected by the project. Supply chain plays an important part in project success due to the way project risks are managed. In the oil and gas industry, it is difficult to manage projects due to the environments that may lead them to disruptions and difficulties. Oil prices impact projects to those that use cash flow partial by the value of the product. If prices drop suddenly it can affect the long-term uncertainty of developing new fields for producing countries. All stakeholders, engineers, and contractors in the project that provide early engagement will lead to a successful project outcome. Communication with all
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