PROJECT CHARTER FINANCE PARK
JUNIOR ACHIEVEMENT ROCKY MOUNTAIN, INC. DENVER, CO
12/3/10
TABLE OF CONTENTS Executive Summary.........................................................................................................................2 Project Purpose/Justification............................................................................................................2 Business Need/Case....................................................................................................................................................2 Business Objectives....................................................................................................................................................2
Project Description...........................................................................................................................2 Project Objectives and Success Criteria......................................................................................................................3 Requirements..............................................................................................................................................................3 Constraints..................................................................................................................................................................4 Assumptions................................................................................................................................................................4 Preliminary Scope Statement......................................................................................................................................5
Risks.................................................................................................................................................5 Project Deliverables.........................................................................................................................6 Summary Milestone Schedule.........................................................................................................6 Summary Budget.............................................................................................................................6 Project Approval Requirements.......................................................................................................7 Project Manager...............................................................................................................................7 Authorization...................................................................................................................................7
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EXECUTIVE SUMMARY Junior Achievement Rocky Mountain, Inc. is committed to providing students a realworld perspective of finance - one that is current, practical, and easy to understand. Junior Achievement is at the forefront of an exciting opportunity to further strengthen its commitment to area students by creating an experiential financial literacy center in the region. In concert with the support of the local business community, Junior Achievement desires to design, develop and construct a state-of-the-art semi-permanent facility Junior Achievement Finance Park. Designed to deliver high-tech, high-touch educational experiences to more than 12,000 8th grade students each year, Junior Achievement Finance Park will provide students with the ability to build financial skills for life. Eighth grade students experience the connection between hard work and tangible success, earning and learning; personal responsibility, leadership and team building; and the consequences and success of actual decision-making.
PROJECT PURPOSE/JUSTIFICATION Business Need/Case Junior Achievement’s mission is to provide financial literacy, entrepreneurship and work readiness skills to K-12 students. To that end, Finance Park allows 8 th grade students to immerse themselves in a reality-based decision-making process addressing aspects of individual and family budgeting, including housing, transportation, food, utilities, health care, investments, philanthropy, and banking. The on-site activities are designed to allow students the opportunity to "put into action" what they have learned in the classroom and to understand the basic steps of maintaining a realistic personal budget. Business Objectives The business objectives for this project are in direct support of JA’s corporate strategic plan to improve K-12 students financial literacy and readiness. - Fund, design, develop and construct a semi-permanent “Finance Park” within the next 270 days. - Raise awareness for JA in communities - Be a “live” community demonstration of the importance of financial literacy - Help immigrant/ underprivileged families get a better understanding of financial literacy
PROJECT DESCRIPTION
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This project consists of the design, development and construction of a semi-permanent Finance Park. The product of the project will provide an interactive “life experience” environment for 8th grade students to immerse themselves in a reality-based decisionmaking process addressing aspects of individual and family budgeting, including housing, transportation, food, utilities, health care, investments, philanthropy, and banking. By providing them with a dynamic environment, where they take control of their decisions, Junior Achievement Finance Park helps students build financial skills for life. Up to 120 students may attend for approximately six hours. While at Finance Park, they’ll interact with 19 different business types. Project Objectives and Success Criteria The objectives, which mutually support the milestones and deliverables for this project, have been identified. In order to achieve success on the Finance Park project, the following objectives must be met within the designated time and budget allocations: - By December 14, understand if initial budget parameter of approximately US $300,000 is sufficient to design, develop and construct Finance Park to client’s specifications. - By December 14, determine if key milestones set forth by project sponsor are achievable: o Initial rendering completed by February 11, 2011, o Validate estimated construction time o Validate three-year lifecycle practicality - Design, develop, construct and test Finance Park in time to be fully utilized for 2011-2012 school year. - Student’s success will be measured by how well they learn how to construct and adhere to a personal budget, while purchasing their needs and wants at different business as noted in this document. Requirements The product of this project must meet the following list of requirements in order to achieve success. - Serve 45,000 8th graders in the footprint with 12,000 potential students per year max capacity - Life cycle to be approx. three years - Physical footprint 7,500 to 10,000 square feet - Include a “Colorado appeal” to the theme - Be designed to be moved three to four times per year. - Be an enclosed space - Be special, unique and make a positive impression on students 3
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Robin Wise and associates have continuing and final approval on final sign-off and acceptance.
Additional requirements may be added as necessary, with project sponsor approval, as the project moves forward. Constraints The following constraints pertain to the Finance Park project: - Sponsorship branding must be accounted for - Flexibility of design must include ability to fit into dissimilar spaces - Must be sufficiently sturdy to withstand the rigors of 12,000 8 th grade students per school year - JA will provide a variety of organizational process assets that must be included in the design. Assets may include photos, blueprints, other JA pre-existing Finance Park facilities and lessons learned documentation. - Must be sufficiently complete for shake-down and complete testing prior to 20112012 school year - Denver area locations are currently unknown Assumptions The following are a list of assumptions. Upon agreement and signature of this document, all parties acknowledge that these assumptions are true and correct: - This project has the full support of the project sponsor and stakeholders. - JA will provide all content - JA will provide design guidelines - JA will manage all sponsorship responsibilities - JA to manage all public relations - JA will ask various supporters for both in-kind and financial support in exchange for sponsorship and media opportunities. These opportunities may include and are not limited to the following: o Computers o Tables/Chairs o Facilities o Interactive environment spaces - Wells Fargo 18th & Lincoln facility may be first location - JA will provide representative to manage the project from conceptualization to physically traveling with the Park and overseeing set-up/tear down - JA Colorado Finance Park may use design concepts and JA assets from other JA Finance Parks across the US - On-going maintenance and install & dismantle is not included in scope
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Facilities will be permanent structures and will have sufficient infrastructure included – security, power, restrooms, internet/telco capability, water, heat/A/C and parking for staff, volunteers and student busses. On-going maintenance and repair supplies and labor is covered under a separate budget
Preliminary Scope Statement The Finance Park project will include the design, building, testing, and delivery of a high-tech, high-touch, high-quality educational experience. This facility will serve approximately 12,000 8th grade students per year. The deliverables for this project are a completed set of physical structures, manuals, testing and initial installation. This project does not include on-going operations or maintenance. Both JA resources and out-sourced services and expertise will be used for this project. Encore Planning will provide professional project management and will manage any vendors required for specialized services including structure and architectural design, development and construction. The project team will manage all personnel, hardware, and software resources. The project manager will manage all project funding up to and including the allocated amounts in this document. Any additional funding requires approval from the project sponsor. Assumptions are noted above. This project must be complete in time for students to participate during the 2011-2012 school year, generally around September 1, 2011. The project must not exceed $300,000. This project will conclude when the first students walk thru the door, and all technical documentation is complete and distributed to the appropriate personnel.
RISKS The following risks for the Finance Park project have been identified. The project manager will determine and employ the necessary risk mitigation/avoidance strategies as appropriate to minimize the likelihood of these risks: - Lack of funding - Insufficient funding to meet expectations - Lack of sponsorships - Difficulty in securing space meeting requirements - Availability of vendors able to meet requirements with desired expenditure - Missed deadlines
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PROJECT DELIVERABLES The following deliverables must be met upon the successful completion of the Finance Park project. The project sponsor must approve any changes to these deliverables. - Fully functioning Finance Park - Technical documentation
SUMMARY MILESTONE SCHEDULE The project Summary Milestone Schedule is presented below. As requirements are more clearly defined this schedule may be modified. The project manager will communicate any changes through project status meetings. Summary Milestone Schedule – List key project milestones relative to project start. Project Milestone
Target Date (mm/dd/yyyy)
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Project Start
11/11/2010
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Project Manager Acquired
12/03/2010
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Vendors Identified
12/07/2010
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Preliminary go/no-go budget review vs. requirements
12/13/2010
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Design Phase Complete
TBD
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Construction Complete
TBD
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Move in: Testing
07/15/2011
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Complete Park Simulation and Testing
08/15/2011
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Move-in Location #1
08/16/2011
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Preliminary Opening
09/01/2011
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Project Complete
09/20/2011
SUMMARY BUDGET The following table contains a summary budget based on the planned cost components and estimated costs required for successful completion of the project. Summary Budget –Component project costs TBD
Total
$300,000
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PROJECT APPROVAL REQUIREMENTS Success for the Finance Park project will be achieved when a fully designed, developed constructed and tested to client’s specifications Finance Park is fully opened to the 8th grade school community within the time and cost constraints indicated in this charter. The Project Sponsor, Robin Wise, who will also authorize completion of the project, will determine success.
PROJECT MANAGER Encore Planning is named Project Manager for the duration of the Finance Park project. Encore Planning’s responsibility is to manage all project tasks, scheduling, and communication regarding the Finance Park project. Contract vendors and appropriate JA resources will support the team, consisting of two project management specialists. Encore Planning will coordinate all resource requirements through an identified JA employee. Encore Planning in conjunction with the identified JA employee are authorized to approve all budget expenditures up to, and including, the allocated budget amounts. Any additional funding must be requested through the Project Sponsor, Robin Wise. Encore Planning will provide weekly updates or updates as otherwise determined to the Project Sponsor.
AUTHORIZATION Approved by the Project Sponsor: ______________________________________ Robin Wise CEO, JA Rocky Mountain, Inc.
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Date:__________________