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This IS PART OF A GROUP PROJECT and I ONLY NEED THE CONCLUSION WRITTEN OUT. I REPEAT THIS IS PART OF A GROUP PROJECT and I ONLY NEED YOU TO WRITE a CONCLUSION OF AT LEAST 200 words. BELOW ARE THE instructions for the entire project. I ONLY NEED A 200 word or more conclusion added to the end of the group document I’ve attached. Resources: Each team member’s preliminary charter posted to the team in Week 1 Role: Put yourself in the role of a customer, client, or project selection board. Identify four to five criteria used to select which project the team will work on. Using the selection criteria, select one of the individual projects for your team to use for the rest of this course. Select one project from the Learning Team members’ Preliminary Project Charters submitted in Week One. Make sure the project you select is one that all of the team members can understand and have the ability to develop a comprehensive project plan and implementation plan. Write a 1,400- to 2,100-word paper composed of the following sections: Project Selection Criterion: Identitfy and describe selection criteria. Use a weighted project selection table, which includes each team member’s project. Select the project with the highest score. Final Project Charter: Review, revise and include as an appendix in the Word document, the final project charter for the selected project as defined in the Preliminary Project Charter Worksheet Week One Assignment. Include the Final Charter within an Appendix to the Preliminary Plan. Preliminary Project Plan: Write the preliminary project plan for the selected project. Note: the team will finalize the preliminary project plan in week three. Include the following information in the preliminary project plan: Overview: The objective of this section is to provide an overview of the scope and nature of the project to help enable the team to select one project to work on for the rest of the course. Preliminary project schedule: The objective of this section is to show a preliminary summary project schedule with the project tasks including the primary deliverables and the activities associated with the“m as shown in section 6.5.3 ofA Guide to the Project Management Body of Knowledge. Preliminary budgetary plan: The objective of the budget section is to capture cost estimates, which include resources, capital expenses, materials, and miscellaneous. The cost analysis must consider the following elements (at a minimum): labor, subcontractors, rental or purchase of equipment or facilities, travel, telecommunications, supplies and materials, and documentation. The output for this step is called project funding requirements. Format your project plan in a APA formatted word document AND Microsoft® Project for support of the paper. The paper can use tables or screen shots to communicate various sections found within the project management application. The tables can be inserted within the main body of the paper or included as an appendix.
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Project Plan Overview and Preliminary Project Plan
Marcus Williams, Marie Gonzales, Melissa Hall, Mike Loya, Paige Vencill, Quadir Felton,
Ricky Demoraes
CPMGT/305
March 4, 2019
John P. Braeger
Project Plan Overview and Preliminary Project Plan
Introduction
The project we chose was the acquisition of Golden Spike Apartments in which we were
chosen amongst 36 other competitors for the already exceling reputation. This project will
commence with the initial milestone of submitting interest in the donating property then to the
completion of unit and common area renovations. Included in this project and in addition of the
housing program now offered, we also anticipate the set aside of 100 units to the considered
“homeless” selected criterion. This will allow a 50% percent clearance of the now residency
waitlist. To where we require tenant selected criteria for landlord verification of two years, that
will be waived for applicants obtaining housing through the homeless program.
Project Selection Criterion
Each project submitted by every team member was scored using a Multi- Weighted
Scoring Model. This scoring model utilized several weighted selection criteria in order to
evaluate and select the project proposal as submitted by the team members. Scores were
assigned to each specified criterion for each project, based upon the significance and importance
to the projects for which were individually evaluated. Both the scores and weights were
multiplied to garner a total weighted score for each team member’s project proposal utilizing a
multi screening process and evaluation structure which allowed the team to do a comparison
based on the weighted scores.
Each team member’s proposal was appraised and evaluated based upon its contribution
values which were added for the criteria of the selection. The values of 0 as a base line to a
value of 10 as a high line were designated to each subject criterion in the selection process as the
specific alignment with the goals and strategies of the company. The selection of Marie’s project
proposal was confirmed as the highest weighted totals by a process of evaluation showing a total
of 69 based upon the following selection formulas [(6 x 2)+(10 x 1)+(8 x 2.5)+(7 x 3)+(6 x 1) =
69].
Project Charter
Project Title
Acquisition of Golden Spike Apartments
Scope
The scope of this project is to obtain the current property Golden Spike Apartments
located in Denver, CO, a property consisting of 200 residential units. This community offers
residences to applicants that are 62 years of age or disabled. The housing program offered for
this residential property is Section 8/202 that offers a subsidized rent program to its residents.
The scope is to obtain Golden spike Apartments and transition all policies, procedures and assets
to the current management guidelines and policies.
Problem to be solved or opportunity to be realized by this project
The problems and opportunities to be resolved are to gain a new Section 8/202 contract
and funding to bring the property up to code in all aspects.
Project purpose or justification including specific measurable business impacts or results
Golden Spike is a property that was built in 1954 and the sole purpose of the acquisition
it to offer reputable services to the existing residents. This will not only help residents out, but
also opens the doors to new ventures and capital gains.
Measurable project objectives and related success criteria including metrics

Obtaining a 15-year HUD Section8/202 Contract-With the acceptance of the new
contract for GSP, the advancement of voucher rent of 5 years. ($5,675,200.00 annual)

Leases and Addendums-Transition all existing residents to all new leases and lease
addendums, listing HMS as the new management/ownership entity.

Licenses/Permits-Revise and review all existing permits and licenses that are currently
part of the entity. (elevator conveyor, generator, etc.) To ensure all are up to code.
High-level requirements

Manage the acquisition team and outsources personnel for valuation and negotiations
including internal property matters to allow a timely transition.

Manage all activities needed and ensuring that all are being processed accorded to plan,
policies and guidelines and to prepare for submission of approvals to board members and HUD
representatives.

Prepare and provide information to senior management as well as planning
communicative meetings where objectives, activities and obstacles will be discussed. There will
be two separate areas of communications, one with senior management and personnel and the
other with residents that reside at GSP. In this requirement the mitigation, mediation and conflict
resolutions for all obstacles or risks will be discussed and reviewed.
High-Level Risks

Administrative Risks- HR will have to hire the adequate personnel that is experienced in
property acquisition and transitions.

Property Inspection Requirements and Contract Denials- The risk of not obtaining a new
HUD contract is a major and probable one for anyone. We will utilize historical data to compare
previous findings with other properties and offer multiple solutions to any physical and
compliance inspections. In the past this has deemed effective to obtaining new HUD contracts
for existing developments.

Legislative Issues- If the involvement of political or legislative issues were to arise and
not allow the granting of a new federal contract, we have mitigation plans we can utilize.
Overall, the team has been following up on legislature 6 months prior to closing of property and
have determined that at this moment, there is no risk of this.
Summary of Milestones Schedule
1)
Initiation and Proposal of Property Acquisition Interest-December 2017
2)
Acceptance of Granted Acquisition- January 2018
3)
Conduct a 100% apartment unit inspection as well as all mechanical and roof
areas/rooms. This would include a property appraisal. – February 2018
4)
Begin budgeting plans for repair and code updates on roof, (2) two elevators, HVAC
chillers and heating systems, generator replacement, all building window replacements, security
camera system installation, apartment renovations (entire) and office layout restructures.
February 2018-April 2018
5)
Upon approvals and closings, the 3rd party fee management company will begin the
transitioning of resident databases and documentation.
Summary of High-Level Budget Including Expense Dollars, Capital Dollars, and
Headcount
Project Revenues
1)
Number of Units-200
2)
Contract Rent per unit-$806=1,934,400 annual
Project Costs
1)
Design, Planning and Approvals-$600,000
2)
Administrative expenses and wages for personnel- $1,760,300 (first year)
3)
Sitework and Capital Improvements-$12,175,000
4)
Amenities and Off -Site Expenses-$100,000
**Rate of Return will be determined after the 6-month mark after project initiation.**
Preliminary Project Plan
Overview
Built in 1954, Golden Spike Apartments, located in Denver, Colorado is ap property
which consists of 200 residential units. The primary tenants at this property are people 62 years
of age or disabled. Housing programs offered at Golden Spike is Section 8/202. This
government program, as stated in Section 202 supportive housing for the elderly program (n.d.)
“helps expand the supply of affordable housing with supportive services for the elderly”. Low-
income elderly are provided with options which allow them to live independenly but still
provided with support activities such as cooking, cleaning, transporation, ect.
The scope of this project is to acquire the Golden Spike apartments and transition all
policies, procedures, and assets to the current management guidelines and policies. To do so, a
new Section 8/202 contract will need to be obtained as well as funding to bring the property up
to code. All existing tenants will need to be transitioned to new lease leases, lease addendums
listing HMS as the new management/ownership entity. Licenses and permits will need to be
reviewed to ensure they are up to code.
High level requirements for this project include managing the acquisition team, the usage
of sourced personnel for valuation and negotiations including internal property matters to allow a
timely transition. All activities will need to be managed to ensure these activities are processed
according to plan, policies and guidelines.
Preliminary Project Schedule
The project schedule for acquiring the Golden Spike Apartments begins on December 1,
2017 and will reach completion on April 30th, 2018. There are 12 major tasks and 89 subtasks
that must be finished by the end of April. In December 2017 the project team will host a kick-off
meeting, generate, submit and obtain acceptance of the property proposal. Also, in December the
team will hire a construction company who will be responsible for completing the property
inspection, all repairs, code updates, and building renovations. Beginning January 2018 all
repairs and code updates will be completed. All necessary materials for the building renovations
will be purchased at the end of January through early February. The apartment renovations will
be split into two sections, units 1-100 and units 101-200. Each section will be completed during
the same timeline, beginning mid-February through the end of April. The management office
renovations will be completed within two weeks during February. As the unit renovations come
to a close, the team will hire a property appraiser and obtain the appraisal. The final task of the
project is to transition all resident documentation and the database to a third-party management
company.
Preliminary Project Plan
Following our preliminary project schedule, we will now focus on another important
portion of our Preliminary Project Plan, the budget. The Preliminary Project Budget is used to
obtain cost estimates like resources, capital expenses, and materials for example. Therefore, we
must analyze the different components our project entails. The acquisition of Gold Spike
Apartments is no small project and will be costly. Utilizing the template method, we were able to
EXPENSES
ESTIMATES
come up with cost estimates for labor, capital,
LABOR
$2,360,300
CAPITAL
$12,175,000
miscellaneous, and contingency expenses. This is a
MISCELLANEOUS
$100,000
CONTINGENCY
$300,000
brief snapshot of the budget which includes materials,
TOTAL
$14,935,300
labor (in different areas), purchases, contracts, and many other aspects of the budget. The capital
expense is the combination of the purchase of the apartments and the capital we need to invest
for improvements. This will include the contracts needed for improvements and materials. The
labor consists of the administrative work wage and the initial design plans for Gold Spike
Apartment. We have our miscellaneous expense for daily and monthly expenses for the project
like stationary items, supplies, communication, (computers, telephones, tablets) and smaller bills
related to the initial project. Our last expense estimate is our contingency. Being that this is our
preliminary estimate we prefer to add a contingency expense for the risk that may occur. We feel
this budget estimate will suffice and ensure our project is completed on time and as scheduled.
Project Funding Requirements
Materials
Cost
Carpet/Tile
$
200,000.00
Baseboards
$
100,000.00
Kitchen cabinets and countertops
$
260,000.00
Kitchen sink and faucet
$
85,000.00
Cabinetry hardware
$
60,000.00
Kitchen appliances
$
100,000.00
Bathroom vanity and mirror
$
140,000.00
Toilets
$
80,000.00
Bathroom sink and faucet
$
65,000.00
Bathroom hardware
$
50,000.00
Tub/shower
$
75,000.00
Lighting fixtures
$
55,000.00
Paint
$
100,000.00
Windows and window treatments
$
75,000.00
Management office flooring
$
20,000.00
Office Furniture
$
35,000.00
$
1,500,000.00
Labor/Installation
Contractor
$
25,000.00
Appraiser
$
10,000.00
Unit demolition (x2)
$
190,000.00
Unit remodel (x2)
$
11,722,000.00
$
11,947,000.00
Roof repair
$
135,000.00
Elevator (x2) repairs
$
95,000.00
HVAC chiller repairs
$
102,000.00
Heating system repairs
$
78,000.00
Full replacement generator
$
65,000.00
Window replacement
$
350,000.00
Security Cameras
$
175,000.00
Repairs/Code Updates
$1,000,000.00
Resource
Administration
$
100,000.00
$
80,000.00
Permits/Approvals
Management Company
$
25,000.00
$205,000.00
Capital
Property acquisition
$
5,000,000.00
$
5,000,000.00
$
348,000.00
$
348,000.00
$
20,000,000.00
Miscellaneous
Total
Conclusion
References
Bunner, A. (2017, May 19). What Are Project Milestones and How Do We Define Them?
Retrieved from https://www.clarizen.com/what-are-project-milestones/
Section 202 supportive housing for the elderly program. (n.d.). Retrieved from hud.gov:
https://www.hud.gov/program_offices/housing/mfh/progdesc/eld202
Project Management Institute. (2013). A guide to the project management body of
knowledge (PMBOK® guide). Newton Square, PA: Project Management Institute,
Inc.
Preliminary Project Charter Worksheet
CPMGT/305 Version 12
1
University of Phoenix Material
Preliminary Project Charter Worksheet
Instructions: Complete this project charter worksheet according to class text, UOPX Library
materials, and other outside sources. Cite all references according to APA guidelines.
1. Project title:
Acquisition of Golden Spike Apartments
2. Project scope (definition, exclusions, and assumptions)
The scope of this project is to obtain the current property Golden Spike Apartments located in
Denver, CO, a property consisting of 200 residential units. This community offers residences
to applicants that are 62 years of age or disabled. The housing program offered for this
residential property is Section 8/202 that offers a subsidized rent program to its residents.
The scope is to obtain Golden spike Apartments and transition all policies, procedures and
assets to the current management guidelines and policies.
3. Problem to be solved or opportunity to be realized by this project (less than 25 words)
The problems and opportunities to be resolved are to gain a new Section 8/202 contract and
funding to bring the property up to code in all aspects.
4. Project purpose or justification including specific measurable business impacts or
results (less than 50 words)
Golden Spike is a property that was built in 1954 and the sole purpose of the acquisition it to
offer reputable services to the existing residents. This will not only help residents out, but also
opens the doors to new ventures and capital gains.
5. Measurable project objectives and related success criteria including metrics (Provide
three to four objectives with metrics)



Obtaining a 15-year HUD Section8/202 Contract-With the acceptance of the new
contract for GSP, the advancement of voucher rent of 5 years. ($5,675,200.00
annual)
Leases and Addendums-Transition all existing residents to all new leases and lease
addendums, listing HMS as the new management/ownership entity.
Licenses/Permits-Revise and review all existing permits and licenses that are
currently part of the entity. (elevator conveyor, generator, etc.) To ensure all are up to
code.
6. High-level requirements•
Manage the acquisition team and outsources personnel for valuation and
negotiations including internal property matters to allow a timely transition.
Preliminary Project Charter Worksheet
CPMGT/305 Version 12


2
Manage all activities needed and ensuring that all are being processed accorded to
plan, policies and guidelines and to prepare for submission of approvals to board
members and HUD representatives.
Prepare and provide information to senior management as well as planning
communicative meetings where objectives, activities and obstacles will be discussed.
There will be two separate areas of communications, one with senior management
and personnel and the other with residents that reside at GSP. In this requirement
the mitigation, mediation and conflict resolutions for all obstacles or risks will be
discussed and reviewed.
7. High-level risks
• Administrative Risks- HR will have to hire the adequate personnel that is
experienced in property acquisition and transitions.
• Property Inspection Requirements and Contract Denials- The risk of not
obtaining a new HUD contract is a major and probable one for anyone. We will
utilize historical data to compare previous findings with other properties and offer
multiple solutions to any physical and compliance inspections. In the past this has
deemed effective to obtaining new HUD contracts for existing developments.
• Legislative Issues- If the involvement of political or legislative issues were to arise
and not allow the granting of a new federal contract, we have mitigation plans we
can utilize. Overall, the team has been following up on legislature 6 months prior to
closing of property and have determined that at this moment, there is no risk of this.
8. Summary of milestones schedule (identify the major deliverables and subtasks)
1) Initiation and Proposal of Property Acquisition Interest-December 2017
2) Acceptance of Granted Acquisition- January 2018
3) Conduct a 100% apartment unit inspection as well as all mechanical and roof
areas/rooms. This would include a property appraisal. – February 2018
4) Begin budgeting plans for repair and code updates on roof, (2) two elevators, HVAC
chillers and heating systems, generator replacement, all building window
replacements, security camera system installation, apartment renovations (entire)
and office layout restructures. February 2018-April 2018
5) Upon approvals and closings, the 3rd party fee management company will begin the
transitioning of resident databases and documentation.
9. Summary of high-level budget including expense dollars, capital dollars, and
headcount (identify costs for major deliverables and tasks identified in #8 the
preceding milestone schedule)
Project Revenues
1) Number of Units-200
2) Contract Rent per unit-$806=1,934,400 annual
Project Costs
1) Design, Planning and Approvals-$600,000
2) Administrative expenses and wages for personnel- $1,760,300 (first year)
3) Sitework and Capital Improvements-$12,175,000
4) Amenities and Off -Site Expenses-$100,000
**Rate of Return will be determined after the 6-month mark after project initiation.**
Preliminary Project Charter Worksheet
CPMGT/305 Version 12
3
References (required):
Bunner, A. (2017, May 19). What Are Project Milestones and How Do We Define
Them? Retrieved from https://www.clarizen.com/what-are-project-milestones/
Project Management Institute. (2013). A guide to the project management body of
knowledge (PMBOK® guide). Newton Square, PA: Project Management Institute,
Inc.

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