Question

Company: XYZ Consulting Is a 100-person consulting company that specializes in data management, data governance, and BI. They are a 10 year old company having difficulties understanding how to estimate future revenue and costs. You are assigned as the PM, you have a business analyst and technical resource assigned to your team. The BA is brand new to the company and the technical resource is currently part of 4 project teams. The project has high visibility and importance to the CEO. He wants to do periodic check-ins and wants the project to move as fast as possible. Timeline: 6 months Key Stakeholders: CEO, controller, VP of HR What I want: A forecasting and budget tool that outlines both income and costs for the fiscal year by month. Income Inputs • Existing business by month • New business/sales by Month Cost Inputs • Number of resources, two types: senior and junior • Resource hiring and attrition • Training expense • Meals and entertainment General Requirements • Dashboard • Dynamic – can change an input and everything changes • Tied to company metrics • Allows us to understand who we hire, type, comp level, what can we afford, and impact to budget • What if one month is off • What if/scenario planning • Integrated with time tracking and financial systems • Accounts for historical trends and seasonality Assignment: Write a project charter (using the format provided) using the above information.

Answer 1

Case:

The BA is brand new to the company and the technical resource is currently part of 4 project teams.

The project has high visibility and importance to the CEO.

He wants to do periodic check-ins and wants the project to move as fast as possible.

Conditions:

Timeline: 6 months Key

Stakeholders:

CEO, controller, VP of HR

Objective:

A forecasting and budget tool that outlines both income and costs for the fiscal year by month.

Requirement:

• Income Inputs
• Existing business by month
• New business/sales by Month Cost Inputs
• Number of resources, two types: senior and junior
• Resource hiring and attrition
• Training expense
• Meals and entertainment General Requirements
• Dashboard
• Dynamic – can change an input and everything changes
• Tied to company metrics
• Allows us to understand who we hire, type, comp level, what can we afford, and impact to budget
• What if one month is off
• What if/scenario planning
• Integrated with time tracking and financial systems
• Accounts for historical trends and seasonality

Project Charter
Project Name	C&R [Cost & Revenue Estimates and Forecast]
Project Description	A forecasting and budget tool that outlines both income and costs for the fiscal year by month.	Date Approved	13th June 2019
Project Manager	ME [Type the Name]	Timeline	6 months
Project Sponsor	Company	Signature
Business Case		Expected Deliverables
The company having difficulties understanding how to estimate future revenue and costs with present data. Herein with the past dataset available the company is in process of creating estimating and forecasting model.		Cost of Operation Hiring Expense Training Expense Meals and Entertainment Paid Leave Revenue from Operation Income from Sales Business trends Historical trends & seasonality Application App that integrate above information
Team Members
Name	Role
Name:1	Project Manager
Name:2	Business Analytics
Name:3	Technical resource
Risk and Constraints		Milestones
Reliability of data Choosing estimation and forecasting model Limited manpower Timeline		Month	Work
		1	Data Collection
		2	Data Cleansing
		3	Analyzing model using data
		4	Application Design & Development
		5	Testing
		6	Reporting