PROJECT MANAGEMENT ASSESSMENT - Project Plan Assignment - 1

PROJECT MANAGEMENT ASSESSMENT - Project Plan - Assignment Example The plan includes a project initiation document that explains the objective and the importance of this project. Thereafter a detailed work breakdown structure has been formulated explaining the entire task associated with the project. A staff plan as well as a budget plan has also been drafted in order to explain the management regarding the requirements of the project. A project schedule has also been prepared giving an estimate of the time required to bring the project to its conclusion. The project involves the implementation of various project management tools in order to ensure the feasibility of the project. Table of Contents Project Title 4 Responsibilities of the Project Manager 4 Project plan overview and critical assumptions 4 Project Initiation Document (PID) 4 Objective 5 Stakeholders 7 Internal Stakeholders 7 Work breakdown structure 8 8 Staffing plan 10 Role Requirements 10 Project Schedule 11 Budget plan 11 Quality management plan 12 Risk management plan 12 Communicati on management plans 13 Appendix 17 Project Title Development of customer services department of Shipkart.com Responsibilities of the Project Manager The project manager will be primarily responsible for the completion of the project. The individual working as the project manager will have the responsibility of supervising the project from its initiation phase through to its execution phase and then to its completion phase. The project manager, in close connection with the project sponsor will have to develop the business case. The project manager will be required to develop a feasible project plan that caters to identify the resources that is required for the fulfilment of a particular project. In addition to that the project manager will also manage the completion of the project in accordance with the project team. The individual is also responsible for reporting the status of the project to the higher authorities such as the project sponsor, the project advisory board and the top level management of the company. The individual will also direct his/her attention towards risk management of the project and escalation of issues which are detrimental to the life of the project and cannot be resolved by the project team thereby making sure that the project stays in schedule and is very well within the budget (Project Smart, 2013). Project plan overview and critical assumptions Project Initiation Document (PID) The project initiation document will give a comprehensive overview of the project plan based upon which the project will be authorized and thereafter permitted to progress. The documents will also serve as a foundation on the basis of which the project will be evaluated in terms of the delivery timescales associated with the project as well as the content and quality of the deliverables. In addition to that, the purpose of the project initiation document is to set forth the detail required to successfully carry out and control the project thereby facilitatin g communication between the stakeholders of the project. The project plan is a dynamic and expandable and is henceforth expected to change over time with the availability of more information regarding the project. Objective The

Comparing and contrasting agency theory and stakeholder theory Essay

Comparing and contrasting agency theory and stakeholder theory - Essay Example In a corporation the principal are the shareholders, whose agent is the chief executive officer hired by them; thus, the agent is expected to act in the interest of the shareholders. The main challenge is in motivating the agents to increase their productivity to a level they would achieve if they were the owners. Further, one of the key factors of agency theory is that principals and agents have different preferences or goals; and these divergent preferences can be aligned with the help of incentive contracts. Stakeholder theory is to a great extent not a formal, unified theory, but is more of â€Å"a broad research tradition, incorporating philosophy, ethics, political theory, economics, law, and organizational social science† (Solomon, 2007, p.23). Stakeholder theory is underscored by the fact that companies are large and have a far-reaching impact on society; hence they are accountable to many more sections of society than their shareholders alone. A common feature among a ll stakeholders of a company is their participation in an exchange relationship with the company by providing contributions while expecting their own interests to be fulfilled through ‘inducements’. ... has to maintain the support of all of these groups, balancing their interests, while taking measures to ensure that all the stakeholder interests can be maximized over time in the organization. Thesis Statement: The purpose of this paper is to compare and contrast Agency theory and Stakeholder theory; and to determine which theory offers the most useful insights into corporate behaviour. Agency and Stakeholder Theories are Based on Essential Moral Principles: of Honouring Agreements and Respecting the Autonomy of Others Firms with high levels of agency may face threats from other firms in the business environment, through the mechanism of the market for corporate control. These assumptions are based on presuming the presence of a functional, â€Å"efficient, competitive environment, in which information asymmetries are minimal, and competitive pressures are high† (Udayasankar, Das and Krishnamurti, 2005, p.1). Agency theory pertains to discussion on moral hazards and agency co sts. Agency theory can only be applied effectively if four moral principles were observed: â€Å"avoiding harm to others; respecting the autonomy of others; avoiding lying; and honouring agreements† (Solomon, 2007, p.25). That is, the principal-agent model would be applicable only if it was based on the setting of these moral principles. Thus, the principle of agent morality stated that only when agents fulfilled their basic moral duties as human beings, could they involve themselves in maximizing shareholders’ wealth. Further, Agency theory is interwoven with transaction cost theory. Both provide different views of the theory of the firm and of managerial behaviour, while using different terminology to describe the same problems and issues. For example, while agency theory confronts moral hazards