College Papers

Project For this project I will have the

Project managers base their decision on the importance
and the level of priority that a project needs in order for the project to
become a success.  A skilled and
disciplined project manager, leading an experienced project team can overcome
any issues with decisions that can have a negative impact not only on the
project but ultimately on his team, stakeholders, customers and sponsors.  Ultimately, project managers must have
accurate data in the form of charts and spreadsheets, or even IT software to
help keep a close eye on the project or projects, schedules, budgeting required
daily.  This is a great way for project
managers to keep tabs on projects at their various stages, to meet all project
goals and communicate those results to the hierarchical organization to offer
them a way to check figures, follow-up and see how they can help the PM to make
the project a success.  The accuracy of
the data enables PM’s to then consider the next step to take and what methods
to use in making sound decisions.  The
method required to help PM’s in making decisions must allow them to break down
the projects process and give a score for each project.  The PM will list and rate each project based
on the importance.  The project that
accumulates the highest number is the project being accepted by the PM.

 

For this project I will have the title of project
manager and will need to decide which of the three different projects to select
and undertake.  By using a project
selection, it will allow me to access each project and evaluate its
processes.  Project selection takes the
process of each project idea and considers certain factors such as projects
benefits, constraints, profits, and payback period (Monnappa, 2017).  Each factor is then  ranked with the highest priority that is
indicated by the larger number.  Each
project will be given a prioritization to rank each projects requirements that
align with a predetermined scale.  To be
precise, using an un-weighted scoring model will offer the data needed for each
project.  Once I make the project
selection, the results will be submitted for final approval to the hierarchical
organizational members, executives, and others that are part of the decision-making
process.

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Projects to Consider

The three projects to consider are house-flipping
projects.  In 2016, the U.S. saw the
number of houses bought, flipped and resold reach 44,000 in the 1st Qtr of 2016
(Goldstein, 2016).  The success of home
flipping projects has reached a milestone since 2006, thanks to very
low-interest rates and an abundance of homes for experienced flippers to
compete in a  new established
market.  The profit margins for home
flippers has yielded an average gross profits close to $60(K).  Furthermore, the profits gained are still
pretty great when compared to the rising cost of building a home from the
ground up.  The house-flipping market has
created plenty of work for contractors and those handy with tools, but it has
also caught the interest of real estate investors.

    

Each of the three house flipping projects have
real-estate investors wanting to take advantage of the house flipping business
but do not actually want to do any of the physical work.  With the first house flipping project, the
investor is looking at a neighborhood where the market price for the homes in
that area have a valued at $250,000.  The
home market value in that area would be worth $175,000.  The real estate investor would invest
$175,000 and would like to generate a revenue of $195,500 over a 2 year period
at 12%.

PV= $156,000-$175,000=NPV -$19,000