The Mortgage Place - Project Integration Management

Project Management Plan

Table of Contents

1        Introduction        

1.1        Report objective        

1.2        Project objective        

2        Criteria used to select this project        

2.1        Career development interest        

2.2        Desire to make a change in the mortgage industry        

2.3        Career development interest        

3        Criteria used to select this project        

3.1        

3.2        

4        WBS        

5        Project Priority matrix        

6        Project Priority matrix        

7        Cost Estimates        

7.1        Techniques of Estimation        

8        Activity-on-Node (AON) networks        

9        Risk assessment        

10        Budget scheduling.        

11        

12        Final report        

12.1        Executive summary        

12.2        Review and analysis        

12.3        Review and analysis        

1. Introduction

1. Report objective 

This document will become the primary source of information on how the project will be executed, monitored & controlled and closed. The contents of this document can be referred to throughout the life of the project and will provide a baseline from which to manage project deliverables/tasks critical to the success of this project.

1. Project objective

To open a well-respected mortgage company that will help borrowers refinance and purchase their home at a reasonable time. Also to build a relationship with brokers that will be profitable for the both of us.

1. Criteria used to select this project

1. Career development interest

I have been working in the mortgage industry for the past three years as a junior processor and I am planning to further my career in the business as a loan officer. I am interested in opening up my own mortgage company to help others in refinancing or purchasing a home.

1. Desire to make a change in the mortgage industry

Working in mortgage has enabled me to see the lack of urgency that some borrowers have to endure during the loan process. Borrowers are sometimes treated as a number than a person and 60% of the time the loan doesn’t close on time. Borrowers sometimes pull back from the loan and go with another lender.

1. Career development interest

Opening my own mortgage company will give me the freedom from policies, procedures and rules. I will be able to work from home if desired. I will be able to make commission from loans closed by agents I hire and train.

1. Criteria used to select this project

The organization will use a flat organizational structure. In this structure there will only be one senior person at the top to whom all the rest will be reporting to. This system will be of great help because by applying it there will be:

                  Staff involvement where they feel they can take on more responsibility.

                             Greater communication

                             Improved team spirit

                             Less bureaucracy and easier decision making

                             Lower operating and management costs

Culture is the characteristics of a particular group of people. In order to build a strong organizational culture, customs and norms the organization will concentrate on aspects of behaviour such as:

• How managers treat the members of their teams (management style) and how the latter relate to their managers

• The prevailing work ethic, e.g. ‘work hard, play hard’, ‘come in early, stay late’, ‘if you cannot finish your work during business hours you are obviously inefficient’, ‘look busy at all times’, ‘look relaxed at all times’
• Status – how much importance is attached to it; the existence or lack of obvious status symbols
• Ambition – naked ambition is expected and approved of, or a more subtle approach is the norm
• Performance – exacting performance standards are general; the highest praise that can be given in the organization is to be referred to as very professional
• Power – recognized as a way of life; executed by political means, dependent on expertise and ability rather than position; concentrated at the top; shared at different levels in different parts of the organization
• Politics – rife throughout the organization and treated as normal behavior; not accepted as overt behavior
• Loyalty – expected, a cradle to grave approach to careers; discounted, the emphasis is on results and contribution in the short term
• Anger – openly expressed; hidden, but expressed through other, possibly political, means
• Approachability – managers are expected to be approachable and visible; everything happens behind closed doors
• Formality – a cool, formal approach is the norm; forenames are/are not used at all levels; there are unwritten but clearly understood rules about dress.

1. WBS

WBS shows the FULL scope of the project. Everything we need to do to complete the project. In essence it is a deliverable orientated decomposition of the entire work of the project. This breakdown of the scope gets progressively more detailed as you drill down the levels.