Management Report Of DBS Bank Singapore

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Management Report Of DBS Bank Singapore

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Management Report Of DBS Bank Singapore

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Question:
Discuss about the Project Management Report Of DBS Bank Singapore.

Answer:
Introduction:

DBS Bank Singapore is a part of the DBS Group Ltd. and they are a leading group of financial services in Asia (Dbs.com., 2017). DBS has been following complete and effective governance for promoting the long term sustainable practices. They have been trying to support the charity activities and help those who are in need.
Project Overview
The project is developed for ensuring that the Singapore DBS Bank would be able to send its 10 employees to a charity organization for ensuring their association with the charity activities. The supporting of the charity activities by DBS Bank would be implied for ensuring that the bank gives profound support to those in need.
Project Scope Statement
Project objective
Acording to Fang and Marle (2013), the projects have certain objectives that are set for ensuring that the operations of the project are aligned on the same platform. The project of “To send 10 internal employees of a company for a charity organization” includes the following objectives,

To develop the project of sending 10 employees of the Singapore based DBS Bank company to the charity organization
To form the effective schedule plan along with risk management and communication planning

Deliverables
The deliverables for the project of “To send 10 internal employees of a company for a charity organization” include the following points,

Development of the signed project charter and initiation documents by Wednesday, 20th December, 2017
A Project Schedule Plan approved by Monday, 8th January, 2018
A Communication Plan approved by Thursday, 18th January, 2018
A Risk Plan applied by Thursday, 1st February, 2018
Registration of the names of the 10 employees selected by Monday, 19th February, 2018
Dropping of the 10 employees at the charity organization by Monday, 12th March, 2018

Milestones
The Milestones of the project of “To send 10 internal employees of a company for a charity organization” are given in the table below,

WBS

Task Name

Duration

Start

Finish

1.5

Review and Sign off the documents

1 day

Wed 12/20/17

2.1

Kick off meeting

1 day

Thu 12/21/17

2.2.5

Plan is approved

1 day

Mon 1/8/18

2.3.3

Implying accurate communication medium with appropriate stakeholders

3 days

Mon 1/15/18

Wed 1/17/18

2.3.4

Approval of the communication Plan

1 day

Thu 1/18/18

2.4.4

Risk Mitigation Strategies are implied

2 days

Mon 1/29/18

Tue 1/30/18

2.4.5

Risk Control is applied

2 days

Wed 1/31/18

Thu 2/1/18

3.1.2

A list of the active employees is made for charity event

2 days

Mon 2/5/18

Tue 2/6/18

3.1.5

Registration of the names of the 10 employees selected

4 days

Wed 2/14/18

Mon 2/19/18

3.2.3

Profiling the charity organization

4 days

Mon 2/26/18

Thu 3/1/18

3.2.4

Dropping the 10 employees at the location

7 days

Fri 3/2/18

Mon 3/12/18

Project is Closed

1 day

Tue 3/13/18

Table 1: Project Milestones

Technical Requirements
The project requires transportation of the 10 employees to charity organization and it would require the proper documentation and transportation medium of the employees to the charity organization.
Limits and exclusions
The project is limited to the sending of the 10 employees to the charity organization and it is bounded by the budget of 50,000 dollars and time of 4 months.
Review with customer
The review with the customer can be done by the help of the feedbacks attained from them by the use of the surveys and post project review (Walker, 2015). The checklist would also help in evaluating the project in terms of the customer satisfaction and expectation.
Project Priority Matrix
The project priority matrix is developed for the implication of the time management and the integration of the number of platforms of the project (Fang & Marle, (2013). The project priority matrix is helpful for the ranking of the basic project factors like cost, time, and scope in terms of their influence in the project. The priority matrix is formed for evaluating whether the factor would be treated as constrains, enhance, and accept for the project.
Project Priority Matrix
The project priority matrix for the project of “To send 10 internal employees of a company for a charity organization” has been shown below,

Time

Scope

Cost

Justification

Constrain

The overall cost of the project is limited to its budget and hence the budget of the project would act as a constrain

Enhance

The scope of the project can be enhanced and it would result in improving the development of the effective development

The time taken for the project is bound to be accepted by the project team

Table 2: Project Priority Matrix
Explanation of the Project Priority Matrix
The project priority matrix is developed for the analysis of the factors of time, scope, and cost for the project of the “To send 10 internal employees of a company for a charity organization”. The priority matrix has shown that the time factor would have to be accepted by the project team members. The project schedule is estimated and the project team would have to abide by the schedule developed and the time taken for the development of the project. The scope of the project is formed for the integration of the project activities involvement. The project team members would have to enhance the scope of the project so that they can get maximum benefit from the project. The cost of the project is a constraint for the development of the effective project operations. The limited amount of the resources has resulted in causing the limitation of the project.
Work Breakdown Structure
Work Breakdown Structure is a modified chart diagram of the project activities list in a more classified and structured forms (Ruano?Mayoral et al., 2014). The integration of the sceptical form for the development of the structure for the project of “To send 10 internal employees of a company for a charity organization” can be formed for understanding the development of the profound development.
Details of the work packages
The project schedule of “To send 10 internal employees of a company for a charity organization” is developed by using the waterfall methodology. The phases of the project are Initial Phase, Planning Phase, Execution Phase, and Closure Phase. However, the work packages of the project are project initial phase, schedule planning, communication planning, risk management plan, selection of the 10 employees, and sending them for charity organization. The work package of project initial phase consists of analysing the requirements of the project, initial documentation, development of the charter documents, submission of the documents, and review and sign off the documents activities. The work package of schedule planning consists of selection of plan methodology, outline of the plan is developed, reviewing the plan outline, plan is completely developed, and plan is approved activities. The work package of communication planning consists of analysis of the requirements of the communication, selection of the communication medium, implying accurate communication medium with appropriate stakeholders, and approval of the communication plan activities. The work package of risk management plan consists of risk analysis, risk prioritization, risk mitigation strategies are developed, risk mitigation strategies are implied, and risk control is applied activities. The work package of selection of the 10 employees consists of selection of the choosing option, a list of the active employees is made for charity event, employees are analysed in terms of their interest in charity, 10 employees are selected, and registration of the names of the 10 employees selected activities. The work package of sending them for charity organization consists of knowing the location of the charity organization, selecting the transportation medium, profiling the charity organization, and dropping the 10 employees at the location activities.
Cost Estimation
The cost estimation is developed for the approximation of the overall expenses that would be required for the project budget (Maleki, Ghaffari & Masdari, 2014). The cost estimation can be done by the help of both top down and bottom up approaches. The top down approach used the cost estimation starting from the final deliverable or the project goal and it is divided into smaller chunks for calculation. The bottom up approach uses the resource cost estimation and adding them for forming the final deliverable for the project.
Cost Estimation

WBS

Task Name

Cost

To send 10 internal employees of a company for a charity organization

$49,928.00

Project Initial Phase

$8,000.00

Project Planning Phase

$21,320.00

2.1

Kick off meeting

$800.00

2.2

Schedule Planning

$7,840.00

2.3

Communication Planning

$5,880.00

2.4

Risk Management Plan

$6,800.00

Project Execution Phase

$19,808.00

3.1

Selection of the 10 employees

$8,784.00

3.2

Sending them for charity organization

$11,024.00

Project is Closed

$800.00

Table 3: Top-down cost estimation

Resource Name

Work

Cost

Analyst

56 hrs

$4,200.00

Documenter

80 hrs

$6,000.00

Project Manager

40 hrs

$4,000.00

Planner

88 hrs

$7,040.00

Risk Analyst

80 hrs

$6,800.00

HR Manager

144 hrs

$13,968.00

Contractor

88 hrs

$7,920.00

Table 4: Bottom-up cost estimation

References
Agarwal, V., Oxstrand, J. H., & Le Blanc, K. L. (2014). Automated work packages architecture: An initial set of human factors and instrumentation and controls requirements (No. INL/EXT–14-33172). Idaho National Laboratory (INL), Idaho Falls, ID (United States).
Aksenov, V. V., Walter, A. V., Gordeyev, A. A., & Kosovets, A. V. (2015). Classification of geokhod units and systems based on product cost analysis and estimation for a prototype model production. In IOP Conference Series: Materials Science and Engineering (Vol. 91, No. 1, p. 012088). IOP Publishing.
Dbs.com. (2017). About DBS Bank – Asia’s Safest Bank – Singapore’s Bank of Choice | DBS Bank. Retrieved 18 November 2017, from https://www.dbs.com/about-us/default.page
Fang, C., & Marle, F. (2013). Dealing with project complexity by matrix-based propagation modelling for project risk analysis. Journal of Engineering Design, 24(4), 239-256.Project management
Kerzner, H. (2013). Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Larson, E. W., & Gray, C. (2013). Project Management: The Managerial Process with MS Project. McGraw-Hill.
Maleki, I., Ghaffari, A., & Masdari, M. (2014). A new approach for software cost estimation with hybrid genetic algorithm and ant colony optimization. International Journal of Innovation and Applied Studies, 5(1), 72.
Ruano?Mayoral, M., Casado?Lumbreras, C., Garbarino?Alberti, H., & Misra, S. (2014). Methodological framework for the allocation of work packages in global software development. Journal of Software: Evolution and Process, 26(5), 476-487.
Schwalbe, K. (2015). Information technology project management. Cengage Learning.
Singh, A. (2014). Resource constrained multi-project scheduling with priority rules & analytic hierarchy process. Procedia engineering, 69, 725-734.
Thomas, K., Lawrie, S., & Niedermuller, J. (2015). Pilot Project Technology Business Case: Mobile Work Packages (No. INL/EXT–15-35327). Idaho National Laboratory (INL), Idaho Falls, ID (United States).
Walker, A. (2015). Project management in construction. John Wiley & Sons.

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