A Project Charter of Launching eProperty Watch (Case Study Sample)

A Project Charter of Launching eProperty Watch Student’s Name Institutional Affiliation Course Instructor’s Name Date 1 Background Details My Florida Regional MLS (MFRMLS) is a specialized Multiple Listing Services (MLS) provider established in Orlando, FL. MFRMLS covers highly populated areas like Puerto Rico, southwest and central Florida serving a brokerage and real estate agency base of over 50,000 individuals from across 14 associations. MFRMLS is considered global because of its rapid growth in scope, subscription base, and qualified project managers marshaled by Patrick Williamson, a Project Management Professional (PMP) certificate holder from Project Management Institute (PMI). Patrick Williamson launched eProperty Watch to help different MLSs regardless of size. Patrick and his team applied unique project management methods which favored all MLSs even the ones lacking committed project managers (Lund & Williamson, 2018). 2 Reasons for the Project eProperty Watch was launched to ease MLSs at their work by leveraging technology and ensuring effectiveness despite rampant challenges and limitations like inadequate staffing and management capabilities. eProperty Watch enables customers to pursue their property values and determine their net income from potential sales depending on contemporary equity. The web summary benefits home buyers and sellers who exploit the price variations accordingly. eProperty Watch offers great market insights to MLSs; therefore, enabling the brokers to reach out to target audiences and convince them using subjective data to buy or sell a home in a given area. The platform will open up the real estate market because its beneficiaries get sufficient tools for collecting and generating data analytics. eProperty is an IT product that elevates the real estate industry levels through the development of technical MLS practices. It is mobile-optimized to give impressive reports on tablets, smartphones, and other modern-day phone systems (Swanepoel, 2016). Therefore, many MLS consumers would access the relevant home details anytime and everywhere. eProperty Watch uses other technologies like copiers and network support services that improve MLS systems to ensure profitability, higher output, and positive market reactions. 3 Project Objectives eProperty Watch provides a home’s instant financial summary like mortgage balance, value changes, and purchase prices to MLSs. The page also demonstrates the recent analogous regional home sales, so customers can determine the prevailing home values as well as loan balances. Therefore, eProperty Watch would assist MLSs in compiling tangible financial property reports in different regions. eProperty Watch provides crucial home details like property features, sales records, lien activity, tax records, and area amenities like schools and hospitals (Swanepoel, 2016). Potential real estate customers would target such details to make informed purchasing decisions. Homeowners also benefit from these details because they determine how valuable their properties are. eProperty Watch shows neighborhood activities, so potential customers can know the latest happenings in the area. The system reports recent building permits, listings, foreclosure, and pending sales. In every property transaction, the customer can find more details like rental or sales prices. eProperty Watch also updates customers on regional security standards by showing theft and violent misconduct cases to look out for in the area, if any. eProperty Watch highlights trends in pricing, demographic modifications, sales, and mortgage information for real estate traders. MLSs can get data from the platform to value homes based on the changes in regional trends. Reports showing rapid changes in sales activities can guide homeowners in making better decisions. 4 Project Management Methodologies * PMBOK PMBOK is a detailed project management guideline that suits eProperty Watch because the relevant methods used in planning and launching the platform are comprehensive and suitable to all MLSs. The approach is knowledge-based; thus, it defines the best eProperty Watch techniques to apply and account for inequities like limited staffing potentials because all the practices are nicely defined in the plan outline. PMBOK describes roles played by project managers. Therefore, I will oversee eProperty Watch’s daily activities and delegates duties to sponsors and other juniors because each lifecycle stage has a detailed process. * PRINCE2 PRINCE2 is practical and perceives a project as a process. Therefore, eProperty Watch scheduling can be best guided by PRINCE2’s seven processes to fit all MLSs. PRINCE2 elaborates all the stakeholders’ roles, so eProperty Watch launching would still succeed even in my absence. PRINCE2 dictates everything to be done in all the project processes, and also caters to unexpected modifications without delay. PRINCE2 can be tailored to ensure the eProperty Watch Outline Plan and timelines are met. The approach is product-based and it focuses on accomplishing the targets through robust control systems which evaluate sections needing specialized attention. During eProperty Watch planning, different responsibilities were executed by MFRMLS departments. * Agile Agile assures project managers evolution and flexibility. eProperty Watch is a tech-based project whose launching requires an adaptable methodology, and Agile suits that because it was developed to facilitate software development. eProperty Watch launching has certain demands addressed by different professionals like sponsors, vendors, marketing coordinators, quality assurance experts among others. All these project players can depend on Agile to address the modern-day workplace challenges especially when inevitable changes have to be done (Malik et al., 2019). Agile introduces transparency, continuous improvement, and quality to any project regardless of the industry. Therefore, eProperty Watch’s quality assurance professionals test the product’s operation and implementation to satisfy the customer demands. Agile is repetitive, and since dates, deliverables, and assignments can change daily, eProperty Watch teams should learn, grow, and adjust. Agile encompasses customers in daily decision-making; therefore, effective planning should be done, and the plan followed accordingly. Thus, I will appreciate that contingencies can make real-life happenings slower or faster to adjust to the speed and align my team. Agile suits eProperty Watch because the project manager controls affairs through feedback integration, quality-control aspects, and transparency. Also, Agile boosts team morale because every player is organized and ready to run the MLS even when the project manager is away. 5 Constraints, Risks, and Limitations Project managers address multiple limitations and constraints almost daily, and their approaches determine results, quality, and success or failure. Therefore, I will address time, cost, and scope limitations to run eProperty Watch smoothly. Time constraints are related to the project's scheduling for every phase and launching of the deliverable. Thus, the project goals should be perfectly defined, and resources needed to accomplish them availed to ensure consistency with the stipulated timeframes. However, time management across the project lifecycle can be problematic; resulting in missed deadlines and incomplete phases. Scope constraints entail project features, functions, deliverables, goals, and tasks needed to accomplish the project (Abdilahi et al., 2020). I will communicate the scope to the stakeholders to ensure consistency of ideas even when inevitable changes have to be made. Therefore, clear documentation should be provided and change management processes defined to avoid confusion. Cost constraints can happen if the budget comprised of different financial resources does not align with the scope. Cost encompasses expenses on labor, quality control, vendors, among other aspects, and not just money spent on project materials. Cost constraints can be avoided by researching expenses incurred by similar projects and estimating labor and goods costs. 6 Leadership Structure Roles of a Project manager * Planning a project idea * Developing a team * Project Monitoring * Assessing Project Performance As ePoperty Watch project manager, I will orchestrate the daily operations (Lund & Wiiliamson, 2018). Therefore, he supervises the entire project from the first task to the last to ensure accountability. Also, a project manager coordinates changes that influence timelines and planning. Roles of a project sponsor * Management of project finances * Approval of changes and ideas * Involvement in crucial decision-making processes * Facilitates effective communication Project sponsors collaborate with managers to successfully advance the project and realize the expected benefits. They participate in strategic planning, project sustainability, as well as execution of the objectives. Roles of a project vendor * Contracts negotiations * Availing goods and labor * Subcontracting project suppliers * Overall project procurement For eProperty Watch, CoreLogic is the project vendor because it garnered a team of experts to develop a comprehensive MLS platform. Marketing Coordinator * Establishing marketing strategies * Creating business prototypes and plans * Keeping the project updated with the recent trends * Research and evaluation The eProperty Watch marketing coordinator prepares communication resources like flyers and digital campaigns for project launching. Project Trainer * Project needs evaluation * Assessment of current practices * Establishing a detailed training development strategy * Learning digital project resources The project trainer develops eProperty Watch’s tutelage program as launching approa...