Project ManagementThe goal of the Portfolio Project is to develop a project plan to successfully execute a project.In this option, you will develop, compile, and write important project documents for a physical product type project with an international component in a company or non-profit organization that you have selected. You must clearly detail the international component of your selected project. It may be that the project is executed in a country other than the United States, or that the supplier is hired from a company headquartered outside the United States. The company or organization can be one that you work for, one with which you are familiar, or one you find through research. The project must be a real project, not yet started, and for delivery of a physical product. Product projects may include construction, manufacturing, and infrastructure delivery among many others. The project must be a new project that you will plan and must not be an existing project within the organization, nor one you have used in any previous courses in the program. Your instructor will use Turnitin to ensure all work is unique for this section of this course. You must select a project that is complex enough to allow you to demonstrate an understanding of the learning objectives for this course, and that allows you to deliver on all the project management components required in this portfolio project.The following components must be addressed in your project management plan and must be broken into the following five sections and the associated subsections that follow the project management process groups: Project Initiation; Project Planning; Project Execution, Project Monitoring and Control; and Project Closure. The requirements for each section are as follows:Project Initiation – Your project plan must include an introduction of the company and the scope of the project. Your project initiation portion of the portfolio project is to include an explanation of those inputs, tools, and techniques that result in a project charter, and stakeholder register. It is strongly suggested that you consult Chapters 4 and 13 from the PMBOK Guide for further detail on the deliverables for this section of your portfolio project. Project Planning – It is strongly suggested that you consult Chapters 5.1-5.4, 6.1-6.6, 7.1-7.3, 8.1, 9.1, 10.1, 11.1-11.5, 12.1, and 13.2 from the PMBOK Guide for further detail on the deliverables for this section of your portfolio project.Monitoring and Controlling- It is strongly suggested that you consult Chapters 4.4-4.5, 5.5, 6.7, 7.4, 8.3, 10.3, 11.6, 12.3, and 13.4 from the PMBOK Guide for further detail on the deliverables for this section of your portfolio project.Project Execution – It is strongly suggested that you consult Chapters 4.3, 8.2, 9.2-9.4, 10.2, 12.2, and 13.3 from the PMBOK Guide for further detail on the deliverables for this section of your portfolio project.Project Closure and Professional Responsibilities – It is strongly suggested that you consult Chapters 4.6 and 12.4 from the PMBOK Guide for further detail on the deliverables for this section of your portfolio project.You began this work in your Module 1 portfolio assignment. To finalize your work in order to deliver the requirements for this portion of your portfolio project, you must include the following artifacts in the appendices of your document:Module 1: Project Statement of Work (SOW) – including the business need, product, service, or result scope description, and the strategic plan to show how the project aligns with the organization’s vision, goals, and mission.Module 1: Project Charter – which will formally authorize the project and use of resourcesModule 1: Business case – including information relative to the market demand, organizational need, customer request, technological advance, legal requirement, ecological impact, or social need.Module 1: Stakeholder analysis – including analysis of relationships, quantitative, and qualitative information regarding interests of the parties and documented in a power/interest grid, power/influence grid, influence/impact grid, or salience model.Module 1: Stakeholder register – including the identification information, assessment information, and stakeholder classification.Module 1: Procurement documents – including contract information for key stakeholders and suppliers, and supplier lists.Module 1: Traceability Matrix – including information on project requirements, rationale for inclusion, source, priority, and status.Module 1: Project Scope Statement – including scope description, acceptance criteria, deliverable, exclusions, constraints, or assumptions.Module 1: Create WBS & WBS Dictionary– including information on decomposition, and WBS to five levels as shown in the video example in Module 4, Activity list, attributes, and milestone listModule 1: Preliminary Cost estimates – including basis of estimates, vendor bid analysis, cost benefit analysis, and cost of quality.Module 1: Preliminary Budget – including: cost baseline, management reserve, control accounts, contingency reserve, activity contingency reserve, and project funding requirements.Module 1: Communications management – including communication requirements analysis, communication technology, communication models and methods.Module 1: Risk management – including analytical techniques used, risk breakdown structure; risk categories, probability, and impact matrix; risk categorization, and urgency assessment; risk register with list of risks and potential responses; use of quantitative risk modeling through tornado diagram, decision tree diagram, or cost risk simulation results; and strategies for negative and positive risks.Module 1: Precedence diagramming method (PDM), dependency determination, task duration, and leads and lags, and critical path method (CPM).Module 1: Project schedule network diagram with critical path, ES, LS, EF, LF, and slack.Module 1: Human resource management – including organizational charts and position descriptions, responsibility chart matrix, RACI matrix, networking requirements, and pertinent organizational theory.Module 1: Procurement management – including make-or-buy analysis, market research, and source selection documents.Module 1: Stakeholder management – including desired engagement levels for key stakeholders, and engagement assessment matrix.Module 2: Change Requests – including formal process to assess changes.Quality Audit – including formal process to evaluate quality.Procurement Audits – including closing procurements, and organizational process assets updates.Module 2: Project Management Ethics – including PMI expectations.International Project Considerations – including the use of human resources from outside the United States or executing the project outside the United States.Project Closure – Create a project closure report which is summary of the project performance, lessons learned (retrospective), a plan for passing deliverables to the customer, a plan for turning over the project document, and a plan for closing vendor contracts and agreementsThe project plan must include a 20-30 page essay addressing each of the required components of the paper. You must also include a cover page, references page, and appendices, not included in the page count. The appendices must detail any documents necessary to communicate your plan which may include but are not limited to a WBS, project budget, documentation on assignment of resources, and budget calculations. Your project must be well written, properly referenced, and in conformity with CSU Global Guidelines for APA Style. The paper must be supported by at least 8 quality sources, of which 3 must be current, scholarly resources. For this assignment, current, scholarly sources are peer-reviewed journal articles published within the most recent 3 years and accessed from the library databases or other academic sources. Textbooks will not count toward peer-reviewed requirements but may be used as quality sources if published within the most recent 3 years. The use of the PMBOK Guide as a quality source is strongly suggested. The PMBOK Guide is not a scholarly resource.