Big Data Analytics for Business: Intelligent Information Inc.
The aim of the report is to present details information to Intelligent Information Inc. on their project to purchase and implement a big data analytics package for their business. The organization has workforce scattered in several countries. This is a large international firm that is interested to work big data analytics for their business process. The main objectives of the project are to help the marketing, operations management and risk management processes of the business to improve with the help of big data. The marketing department is interested in identifying potential customers with the help of suitable big data analytics integrated with the marketing process, the operations management department is interested in integrating big data technologies to the business operations with the help of sensors and wireless networks to deliver better services to the existing customer, improving customer loyalty and to streamline and simplify business operations. They are also interested in using the technologies in predictive and prescriptive maintenance. The risk management department is interested in using the big data analytics for prevention and detection of various fraudulent activities.
The project schedule contains the timeline of the activities to be done in the project. Scheduling is a key aspect of any project management activities. The main task of selecting a suitable big data analytics package and to implement it for the marketing, operations management, and risk management has been broken down into smaller subtasks and activities so it can be completed within a definite time and with definite resources (Schwalbe, 2013).
The WBS for the project is,
|1||Intelligent Information Inc. Project|
|1.1.1||Idea Conceptualization Completed|
|1.1.3||Create Initial Project Plan|
|1.1.4||Meeting with Stakeholders|
|1.1.5||Create Project Management Group|
|1.1.6||Sign Up the Project Initiation Document|
|1.2.1||Create Detailed Project Management Planning|
|1.2.2||Prepare Risk Management Planning|
|1.2.3||Project Management Report Approved|
|1.3.3||Create Requirement Specification Document|
|1.3.4||Requirement Specification Document Signed|
|1.4.1||Research about Vendors for the Big Data Analytics Package|
|1.4.3||Vendor Selection Process Completed|
|1.4.4||Add New Team Members|
|1.4.5||Develop the solution|
|1.4.7||System is ready for deployment|
|1.5.1||Develop Detailed Project Report|
|1.5.2||Submit the report|
|1.5.4||System is Deployed|
The Gantt chart shows the work breakdown structure or WBS, the durations for the tasks, the start and finish dates, resources required to finish the tasks and the budget for the project. It also shows the dependencies among the tasks. The detailed project schedule is,
|WBS||Task Name||Duration||Start||Finish||Predecessors||Resource Names|
|1||Intelligent Information Inc. Project||184 days||Mon 5/28/18||Thu 2/7/19|
|1.1||Project Initiation||10 days||Mon 5/28/18||Fri 6/8/18|
|1.1.1||Idea Conceptualization Completed||0 days||Mon 5/28/18||Mon 5/28/18||Administration Representative, Marketing Representative, Operations Management Representative, Risk Management Representative|
|1.1.2||Feasibility Study||4 days||Mon 5/28/18||Thu 5/31/18||3||Administration Representative, Marketing Representative, Operations Management Representative, Risk Management Representative|
|1.1.3||Create Initial Project Plan||3 days||Fri 6/1/18||Tue 6/5/18||4||Administration Representative, Marketing Representative, Operations Management Representative, Risk Management Representative|
|1.1.4||Meeting with Stakeholders||1 day||Wed 6/6/18||Wed 6/6/18||5||Administration Representative, Marketing Representative, Operations Management Representative, Project Manager, Risk Management Representative|
|1.1.5||Create Project Management Group||1 day||Thu 6/7/18||Thu 6/7/18||6|
|1.1.6||Sign Up the Project Initiation Document||2 days||Thu 6/7/18||Fri 6/8/18||6||Administration Representative, Project Manager|
|1.1.7||Project Initiated||0 days||Fri 6/8/18||Fri 6/8/18||7,8|
|1.2||Project Planning||10 days||Mon 6/11/18||Fri 6/22/18|
|1.2.1||Create Detailed Project Management Planning||7 days||Mon 6/11/18||Tue 6/19/18||9||Project Manager|
|1.2.2||Prepare Risk Management Planning||3 days||Wed 6/20/18||Fri 6/22/18||9||Project Manager|
|1.2.3||Project Management Report Approved||0 days||Fri 6/22/18||Fri 6/22/18||11,12||Administration Representative, Project Manager|
|1.3||Requirement Analysis||32 days||Mon 6/25/18||Tue 8/7/18|
|1.3.1||Requirement Investigation||12 days||Mon 6/25/18||Tue 7/10/18||13||System Analyst|
|1.3.2||Requirement Analysis||15 days||Wed 7/11/18||Tue 7/31/18||15||System Analyst|
|1.3.3||Create Requirement Specification Document||5 days||Wed 8/1/18||Tue 8/7/18||16||System Analyst|
|1.3.4||Requirement Specification Document Signed||0 days||Tue 8/7/18||Tue 8/7/18||17|
|1.4||Execution||121 days||Wed 8/8/18||Wed 1/23/19|
|1.4.1||Research about Vendors for the Big Data Analytics Package||30 days||Wed 8/8/18||Tue 9/18/18||18||Project Manager|
|1.4.2||Shortlist Vendor||15 days||Wed 9/19/18||Tue 10/9/18||20||Project Manager, System Analyst|
|1.4.3||Vendor Selection Process Completed||0 days||Tue 10/9/18||Tue 10/9/18||21|
|1.4.4||Add New Team Members||10 days||Wed 10/10/18||Tue 10/23/18||22||Project Manager|
|1.4.5||Develop the solution||45 days||Wed 10/24/18||Tue 12/25/18||23||Developers, Tester|
|1.4.6||Testing||12 days||Wed 12/26/18||Thu 1/10/19||24||Tester|
|1.4.7||System is ready for deployment||0 days||Thu 1/10/19||Thu 1/10/19||25|
|1.4.8||Implementation||5 days||Fri 1/11/19||Thu 1/17/19||26||Developers|
|1.4.9||User Training||4 days||Fri 1/18/19||Wed 1/23/19||26,27||Trainer|
|1.5||Project Closure||20 days||Fri 1/11/19||Thu 2/7/19|
|1.5.1||Develop Detailed Project Report||4 days||Fri 1/11/19||Wed 1/16/19||26||Project Manager|
|1.5.2||Submit the report||1 day||Thu 1/24/19||Thu 1/24/19||28,30||Administration Representative, Marketing Representative, Operations Management Representative, Project Manager, Risk Management Representative|
|1.5.3||Resource Release||3 days||Fri 1/25/19||Tue 1/29/19||31||Project Manager|
|1.5.4||System is Deployed||0 days||Tue 1/29/19||Tue 1/29/19||32|
|1.5.5||Maintenance||7 days||Wed 1/30/19||Thu 2/7/19||32||IT Staff|
The Gantt chart also shows the critical tasks and how that is related to the project. If any critical task is delayed then the whole project schedule may get delayed or the project schedule may break down. So, it is very important to understand the critical tasks and monitoring the project progress closely so the deadlines of the critical tasks are met.
The network diagram for the project is given below. It is a graphical representation of the WBS. It also shows the dependencies among the tasks. The project network diagram must be considered from the left to the right.
Project Milestones using the SMART Criteria
SMART stands for Specific, Measurable, Attainable, Relevant, and Time Bound. Project goals must stick to SMART criteria (Kloppenborg, 2012). It helps to make the project more effective. The milestones of the project are developed using the SMART criteria. The milestones are already added in the project schedule and the Gantt chart.
Each milestone has some specific purpose and requirement. So the milestones meet this criterion of the SMART approach.
The milestones have definite dates. So, these are measurable. The milestones are used for tracking the progress of the project. It helps to measure the progress.
Each milestone is realistic and aligned with the objectives of the project.
The milestones are relevant to the project and worthwhile.
Each milestone has a definite end and date. So, these are time bound.
The milestones are given below,
|1.1.1||Idea Conceptualization Completed||0 days||Mon 5/28/18||Mon 5/28/18|
|1.1.7||Project Initiated||0 days||Fri 6/8/18||Fri 6/8/18|
|1.2.3||Project Management Report Approved||0 days||Fri 6/22/18||Fri 6/22/18|
|1.3.4||Requirement Specification Document Signed||0 days||Tue 8/7/18||Tue 8/7/18|
|1.4.3||Vendor Selection Process Completed||0 days||Tue 10/9/18||Tue 10/9/18|
|1.4.7||System is ready for deployment||0 days||Thu 1/10/19||Thu 1/10/19|
|1.5.4||System is Deployed||0 days||Tue 1/29/19||Tue 1/29/19|
The resource table is,
|Resource Name||Type||Initials||Max. Units||Std. Rate|
|Operations Management Representative||Work||O||100%||$40.00/hr|
|Risk Management Representative||Work||R||100%||$40.00/hr|
|Big Data Analytics Solution||Material||B||$60,000.00|
The project budget and calculations are given in the following table.
|1||Intelligent Information Inc. Project||$146,320.00|
|1.1.1||Idea Conceptualization Completed||$0.00|
|1.1.3||Create Initial Project Plan||$4,080.00|
|1.1.4||Meeting with Stakeholders||$2,000.00|
|1.1.5||Create Project Management Group||$1,360.00|
|1.1.6||Sign Up the Project Initiation Document||$1,040.00|
|1.2.1||Create Detailed Project Management Planning||$4,480.00|
|1.2.2||Prepare Risk Management Planning||$1,920.00|
|1.2.3||Project Management Report Approved||$0.00|
|1.3.3||Create Requirement Specification Document||$2,800.00|
|1.3.4||Requirement Specification Document Signed||$0.00|
|1.4.1||Research about Vendors for the Big Data Analytics Package||$19,200.00|
|1.4.3||Vendor Selection Process Completed||$0.00|
|1.4.4||Add New Team Members||$6,400.00|
|1.4.5||Develop the solution||$46,800.00|
|1.4.7||System is ready for deployment||$0.00|
|1.5.1||Develop Detailed Project Report||$2,560.00|
|1.5.2||Submit the report||$2,000.00|
|1.5.4||System is Deployed||$0.00|
RACI stands for Responsible, Accountable, Consulted, and Informed. The following RACI matrix shows the decision making authorities of the project along with the project activities. The intersecting points of the roles and activities shows whether the corresponding authority is responsible, accountable, consulted or informed for the activity or not (Wilson, 2014).
The RACI matrix for the project is given below.
|WBS||Task Name||Project Manager||System Analyst||Marketing Representative||Operations Management Representative||Risk Management Representative||Administration Representative||Developers||Tester||Trainer||IT Staff|
|1||Intelligent Information Inc. Project|
|1.1.1||Idea Conceptualization Completed||RCI||RCI||RCI||RACI|
|1.1.3||Create Initial Project Plan||RCI||RCI||RCI||RACI|
|1.1.4||Meeting with Stakeholders||RCI||RCI||RCI||RACI|
|1.1.5||Create Project Management Group||I||RCI||RCI||RCI||RACI|
|1.1.6||Sign Up the Project Initiation Document||RCI||RACI|
|1.2.1||Create Detailed Project Management Planning||R||I||I||I||I||AI|
|1.2.2||Prepare Risk Management Planning||R||I||I||I||I||AI|
|1.2.3||Project Management Report Approved||RA||IC||IC||IC||IC||RAI|
|1.3.3||Create Requirement Specification Document||RI||RA||IC||IC||IC||IC|
|1.3.4||Requirement Specification Document Signed||RC||RC||IC||IC||IC||RACI|
|1.4.1||Research about Vendors for the Big Data Analytics Package||RA||RA||IC||IC||IC||IC|
|1.4.3||Vendor Selection Process Completed||RA||RA||IC||IC||IC||AIC|
|1.4.4||Add New Team Members||RAC||IC||IC||IC||IC||IC||I|
|1.4.5||Develop the solution||IC||I||I||I||I||I||RA||IC|
|1.4.7||System is ready for deployment||IC||I||I||I||I||I||RA||RA|
|1.5.1||Develop Detailed Project Report||RA||CI||CI||CI||CI||CI||CI||CI||CI|
|1.5.2||Submit the report||RA||I||I||I||I||RA||I||I||I||I|
|1.5.4||System is Deployed||IC||I||I||I||I||I||RA||RA|
Risk management is an integral and critical part of project management. It is an ongoing process that is needed to be started from the beginning and run in parallel to other project management tasks (Schwalbe, 2013). The risk register given below shows the risks related to the project. The risk register also contains information about the probability matrix of the risks.
|Sl No.||Risk||Risk Type||Chances of Occurrence||Impact||Mitigation Strategy|
|1||Schedule Slippage||Negative risk||High||High||The project schedule must be developed effectively. It needs to be monitored closely and there must be buffer time for the activities. The schedule must not be very strict or unrealistic.|
|2||Cost Overrun||Negative risk||High||High||The budget and cost estimation must be done properly. It must be realistic. There must be contingency fund to cope with unwanted circumstances.|
|3||Unavailability of resources||Negative risk||High||Medium||The resources must be available during the project. There must be some policies to ensure that.|
|4||Poor implementation||Negative risk||High||High||The testing process must be done effectively to validate the system.|
|5||Selection of wrong vendor||Negative risk||Medium||High||The vendor selection must be done properly.|
|6||Rise of any other disruptive technology replacing the big data analytics platform.||Positive risk||Low||High||It may need to adapt the changed technology.|
The report contains detailed information about the project management for the big data analytics project for the III. The administration will have a clear idea about the schedule, cost estimation, risk management of the proposed project. It will help them to run and complete the project successfully.