Project Management Simulation in Relation to Three PMBOK Guide
After completing the simulation, write an essay that addresses the following elements based on the simulation scenario that you performed. (This part is common to both project and assignment options.)
Present an overview of the simulation scenario.
Overview of scenario: Scenario Objectives: Scenario A
Senior management expects you to release a new printer retaining rough parity with your competitor's new printer. The projected schedule allows you to ramp up manufacturing and marketing quickly enough to match the competitor's new printer profile with your own. The target budget supports a cost structure that will permit profit margins at a level roughly equivalent to those of your current printer.
Market intelligence gathered on your competitor's plans is considered reliable, so the target specifications for your new printer, required to retain parity with the competition, are clearly defined, well understood, and expected to remain stable throughout the project. Management has indicated that scope, schedule, and cost are of equal importance in a successful launch, and they have committed to providing stable access to resources during the project.
Specific Objectives
Target Scope: Level 2
You will retain rough parity with the competitor's expected new printer. You will receive 200 points for delivering a printer with the scope requested and up to 100 additional points for delivering a printer with a more sophisticated scope.
Target Schedule: Week 18
This schedule will allow you to ramp up manufacturing and marketing soon enough to quickly match the competitor's new product announcement with one of your own. You will receive 200 points for meeting your schedule goals and up to 100 additional points for completing ahead of schedule.
Target Cost: $42,500
This will support a cost structure that will permit profit margins at a level roughly equivalent to those of the current printer. You will receive 200 points for meeting your budget/resources goals and up to 100 additional points for completing under budget.
You may also receive up to 100 points for team process by maintaining a consistent morale of 85–95%.
Explain the intent of the simulation scenario.
Relate at least three PMBOK® Guide standards or practices applied in the simulation scenario.
Describe your lessons learned based on the what-if assessments and explain how the methods applied to audit and terminate projects are used to capture lessons learned.
Describe how the simulation experience can be used to enter (or advance) your career as a project manager.
Describe how proficiency in the use of project management systems as demonstrated in the PMS Resource Center can be applied to enter (or advance) your career as a project manager.
Properly organize your writing by including the following:
Cover page
Introduction
Body of your work in response to the assignment's key elements, with headings and subheadings
Conclusion
List of references
Appendices—containing captured screen image of the confirmation page showing your total simulation score for each scenario performed
The introduction through conclusion sections of your essay should be approximately 4-5 pages in length. Support your assignment with a minimum of three peer-reviewed or professionally published sources, such as CSU Global libraryLinks to an external site. resources. The written section should follow the CSU Global Writing CenterLinks to an external site.. Consult the Sample paperLinks to an external site. template for more information on how to organize the paper and review the rubric for specific grading criteria.
Project Management Simulation Paper
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Project Management Simulation Paper
The project is based on senior management’s expectations for me to design a new printer maintaining rough uniformity with our rival’s new printer. The project would be an opportunity to integrate marketing and manufacturing capabilities to match our company’s printer with the rival’s new printer profile. This report includes a discussion of the simulation scenario objectives, relationship to three PMBOK Guide practices and standards applicable to the simulated scenario, learned lessons anchored on what-if analyses, the usefulness of the simulation experience in career advancement, and how to leverage the attained project management systems proficiency to project manager career advancement.
Simulation Scenario Overview
Based on the case study scenario, the project manager is working on a product already used by business rivals, complicating the entire process as it demands higher thresholds of innovation, care, and leadership. Regarding the targeted scope (level 2), the project manager delivered the printer on the scope, thus earning 200 points. The project was delivered on week 16 (the target schedule required the project to be delivered by week 18). The project manager surpassed the management resources target of $42,500 by delivering the project at an aggregate cost of $66,300. Although the team was typically laid back and bored, they demonstrated good morale during project implementation, thus scoring 91 out of 100 points, which was quite impressive.
Simulation Scenario Intent
The simulation scenario is tailored to evaluate the project manager’s performance in terms of the ability to deliver the printer that meets the manager’s target for innovation and competitiveness in the market. It also evaluates the project manager’s ability to satisfy the resources and schedule requirements and deliver that a product would address customer expectations and needs not addressed by the firm’s competitors. It would also evaluate the project manager’s capacity to employ innovative leadership skills, including inspiring the team members to sustain high moral thresholds during the implementation. The company management has designed clear objectives and goals, workable deadlines, and other expectations to ensure the project manager delivers on the endeavor.
PMBOK Guide Standards Applied in the Scenario
The Project Management Body of Knowledge (PMBOK) practices upheld in the simulation context include project cost management, project time management, and project scope management. The project included cost estimation by establishing the resources required to complete the project activities. The management estimated the costs and established a budget with which the project manager was to work. Second, the simulation scenario emphasized the project’s timely completion via defining the activities, planning schedule management, developing a schedule, and achieving critical milestones during the project implementation. For example, the simulation scenario included a target schedule, and the project manager was expected to complete it ahead of the scheduled timeframe. The management included the starting and the finishing dates for the project and the project activities. Lastly, the management includes the element of scope supervision. This knowledge was central to ensuring the project manager was informed of all the work needed and thus successfully finished the project. The scope also included the expectations of the quality of the printer delivered, including retaining rough parity within the rival’s anticipated new printer (Bassi, 2017). The fact that the simulation scenario incorporated a final rating for the project manager implies that it had a control scope whereby the management monitored the implementation status, changed management, and made recommendations to ensure the project scope was upheld.
Lessons Learned from What-if Assessments
One of the primary lessons lear...