Professional Development Plan

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INTRODUCTION
Managing a project is a great experience that adds to the personal knowledge growth. Before
Project Management courses commenced, my knowledge was insufficient on how to handle a
project. I was aware of the scope and the objectives of any project without any in-depth
details on how to go further in the streamline of a project. Also, to build a basic estimate for
the project without any details on how to allocate the budget to the right thing. After I
engaged in the course, my knowledge has broadened widely to entail the aspect of project
management. In this paper, I will recite my Professional Development Plan in project concept
based on PM Competency describing my vision for my career progress. I will state a progress
plan for my next one, five, and ten years. It will include my personal and career goal and my
learning achievements during my master degree at UTS. The plan will have all the major
aspects of my own and career goals including time, cost, and objective of each phase of my
future career. Also, it will include the timeline for each phase and goals thereof.
OBJECTIVES
The main objective of is to find a fulfilling position in the new business development industry
that offers growth opportunities and allows me to enhance my knowledge and experience.
This is in addition to improving my level of competence in performance index. Another
objective is to venture into new and multidimensional spheres within the context of my career
and improve my leadership and managerial capacities.
SCOPE STATEMENT
The scope of this plan ranges from completion of my leadership certificate to starting my
own company. Other goals such as completion of my master's degree and attaining
managerial position are in-between. Each goal is fundamentally important to achieve the next
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goal. For instance, master’s degree will enhance my competence level and elevate my output
capacity and career progress.
PROFESSIONAL GOALS
Specific Goal
Timeframe
Description
Short-Term
Goal
Complete my professional
certificate in Management
and Leadership.
In Less Than a Year Time
The essence of these
goals is to expand my
knowledge on various
aspects regarding my
profession.
Complete my Master
Degree from UTS
Master's Degree Programme
will take about two years.
Setting down and focus on
one task at a time.
Gradual
This goal is
fundamentally tied to
my skills and abilities
to deal with day-to-day
affairs. I was intent to
train myself to be more
focused on one task at a
time. This will have a
positive impact on my
professional life; as
well as my personal.
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Mid-Term
Goal
Enhancing the level of
experience, skills, and
knowledge to reach a
managerial position within
new business development
field.
Gradual
Being aware that to
reach a managerial
position in the business
development field, one
requires professional
knowledge and skills, I
intend to improve my
skills and knowledge in
business management
through extensive
learning. I also intend
to consider professional
advice from my
mentors.
Long-Term
Goal
Establish my own
consultancy company that
specializes in new business
development
I expect to fulfill this goal
towards the end of my PDP.
As stipulated in the Gantt
chart below, setting up the
consultancy firm is expected
to take place in the period in
between 2022 and 2024.
I intend to use the skills
and knowledge learned
both at work and from
the master's course to
start and operate a
consultancy company.
This consultancy will
advise individuals and
firms on various
entrepreneurial and
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business aspects.
PROJECT MANAGEMENT COMPETENCE
Competency
My current competency
Integration
Project performance measured and changes to PP recognized as project
proceeds
Human resource
Human Resources Plan (HRP) prepared at project start-up.
Communications
Communication Plan adjusted to meet changing business and project
environment.
Time
Project Time Plan monitored and critical path schedule regularly updated.
Project Time Plan monitored and adjusted as project scope changes.
Scope
Objectives changed as the project requires. WBS used to control work
packages.
Cost
Capital Cost monitored, and budget changes agreed as project proceeds.
Operating Cost impact monitored and Lifecycle Cost (LC) known and
integrated into project cost plan.
Quality
Quality Plan defined for all major components.
Life Cycle Quality Plan (LCQP) prepared
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GAP ANALYSIS
Milestones for the proposed plan
I expect to face the following milestones in my PDP. The table below lists the various
milestones and the expected completion timeframe for each milestone. The stated milestone
is to be completed within the provided dates; however, only if all factors remain constant.
Milestones
Estimated Completion
Attain management & leadership certificate
November 2017
Graduation from UTS
July 2018
Take a managerial position in new business development
July 2021
Establish my own company
July 2024
Cost analysis of the Plan
Risk
Risk Management Plan (RMP) prepared and risks monitored and
controlled.
Procurement
The procurement process for major components known.
System
Project Scheduling Systems available.
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The illustration of cost alignment is based on cost estimation that is divided to cover each
phase. The table below illustrates the estimated budget for the period of implementation. The
plan aims at having periodic reassessments of estimated budgets in subsequent years for
purposes of avoiding financial complications. However, the assumption that everything goes
as planned.
Task
Estimate Cost
Master of Business Administration Degree
$ 60,000
Annual Living Expenses
$ 30,000
Annual Miscellaneous Expenses
$ 10,000
Annual Saving
$ 10,000
Cost of Establishing my own company
$ 90,000
Additional funds for establishing the business
$ 30,000
Risk Analysis
There is a level of uncertainty and some risk associated with any plan. It is important to
understand potential risk and find ways to minimize the impact on the professional plan to
success. The schedule below shows a risk breakdown structure with the levels of uncertainty
at the time-based appendix 1 - Risk Matrix.
Risk Type
Likelihood
Impact/
Consequence
Treatment
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Time Analysis of the Plan
Time is an essential aspect in supporting the proposed plan decisions and defining the period
that undertakes in achieving my professional goals. The timelines of my PDP will raise the
awareness of reaching my objectives. The duration in the PDP is within eight years starting in
2016. The development progress is based on time as presented in the Gantt chart to illustrate
the dependencies and durations between activities. Fundamentally, graduating with a
leadership management certificate is my first step.
Financial Risk
Likely
Large
(Avoid)
Get the funds for the plan ahead of time
Management Risk
Possible
Medium
(mitigate)
Provide the right support to manage the plan
effectively
Economic
Recession Risk
Possible
large
(Find Alternatives)
Diversify alternatives pool to reduce the
impact of economic recession
Personal/Individual-
based Risks
Potential
Enormous
(Put in place the likely solutions)
Factors such as health, accident, etc. risks
should be insured against.
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Quality management
My quality management strategy is to ensure that high standards of results within the PDP
timeframe are attained. To achieve this, there will be several assessment factors put in place.
The table below shows how quality will be managed; according to this PDP.
Deliverable
Factors of Assessment
Time Duration To Complete The Task
Task
2016
2017
2018
2019
2020
2021
2022
2023
2024
Graduating with leadership
and management
certificate
Graduation with a
Master’s Degree in project
management from UTS
Taking a managerial
position in a business
development after
graduation
Starting my own
consultancy company
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Leadership and Management Certificate
Recognized and Approved Institution
Master’s Degree from UTS
Recognized and Approved Institution
GPA Factor
Taking a managerial position in a business
development after graduation
Performance Feedbacks
Starting my own consultancy company
Performance Index
Procurements Management
The success of my endeavors will be significantly influenced by the ability to access, acquire
and manage the necessary resources. Strategies must be put in place to prevent any possibility
of losses of the scarce resources under my ownership. While undergoing my studies, either
the Leadership Management Certificate or the Master’s Degree, there are measures which I
will put in place to avoid over-expenditure of the resources. I plan to maximize output while
at the same time minimizing the costs of inputs. I intend to manage not only the resources
which are tied to ultimate goals but also find means of earning extra income to finance the
plans.
Communication Management
The informal and formal communications networks need to be managed to ensure that
information has been transferred efficiently and conveniently. Excellent communication will
prevent distortion of information within the organization. I will promote openness in
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communication in my capacity as a manager and stakeholder as per the mid-term and long-
term goals respectively
CONSTRAINTS
Enough Financial Funds
Lack of enough funding is one of my major constraints. With the cost mentioned above
analysis, it is highly possible that my current financial situation will be impendent to
achieving these goals. However, I do hope to overcome this constraint through strategic
procurement method and diversification of my income sources.
Family Commitment
Family commitment, which comes with responsibilities will constrain these goals; however, I
intent to find a suitable balance between the two.
Time Constraints
With the existence of many other responsibilities, time is a scarce resource and fully
dedicated to the achievement of these goals is a huge sacrifice. To mitigate this, I will set a
timetable which will aid me.
Changing Career Path
Another factor which may vitiate my goal plan is evolving career path. Unforeseen
circumstances may force me; however, this is a minor constraint, in relative to others.
ASSUMPTIONS
Graduating from UTS during the Specified Time with High GPA
One of the premises of the PDP is that I will be able to graduate from UTS within the
reasonable time frame; specifically as planned here. This will be crucial on the basis that it is
a determinant factor to all other goals afterward, and any alteration of the scheduled
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graduation date will lengthen the overall timeframe. Also, I assume that my GPA will high.
This will give me additional opportunities that will be advantageous to primary objectives.
Physically and Mental Fit to Achieve my Goals
Physical fitness is an integral factor which cannot be ignored. My health status will largely
determine how I will perform my duties in the context of the set goals. I assume that I will be
both mentally and physically within the timeframe mentioned above.
Family & Friends Support
To achieve these goals, I will need a lot of support from my family members and friends. For
instance, I assume that my friends and family members will give me both moral and financial
support where deemed necessary.
REFLECTION ON TEAM BEHAVIOR
Working in a team is always challenging as each one us has different perception and
approach style. For that, we tried from the first moment the team formed to identify the gap
between us and create synergy. To succeed, we divided the work based on experience or
learning interest. As business development analyst with some financial experience, I chose to
work in budgeting and cost analysis for the project plan. We always tried to be ahead of
everyone by finishing all the parts as early as we can. Also, we tried to support each other by
aligning our thoughts to achieve the goal of the subject by learning the central aspect of
project management.
Another aspect that added significant value to our team is that each one of us came from a
different background which allows room to learn from each other as each one of us was
specialized in a field. For example, one of the team members was familiarized with MS
Project which gives us the opportunity to learn the basics from him. On the other hand, my
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financial background provides the team with new knowledge while creating a budget and
making cost analysis.
The reflection on learning allowed for promotion of mentorship, coaching, and action
research in the study group. The significant ways for information gathering were based on
participant application for consideration of changes in practice-based systems. The approach
was based on respect for all, learning standards, shared decision making, and high
expectations. Professional development will be faceted while the information based
processes have a strategic plan to provide individual and group solutions targeting areas of
strengthening or improvement.
The completion of the group assignment allowed time for assessing my performance within
the group. In my opinion, I was satisfied with the team's contribution. Positive
participation was at a high concentration as group study sessions were frequent. It is for this
reason that, I improved my performance of group works and remained an active participant. I
was committed to research and actual preparation of material prior group discussions to gain
full understanding. We consulted friends to identify and improve on weaknesses. We also
increased study time in the library as a way of focusing on developing leadership skills. The
purpose of this professional development plan includes improving the quality of learning and
directing the alignment programs with the continued commitment to putting professionalism
and instructional technology.
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References
Birman, B.F., Desimone, L., Porter, A.C. and Garet, M.S., 2000. Designing professional
development that works. Educational leadership, 57(8), pp.28-33.
Guskey, T.R., 2000. Evaluating professional development. Corwin Press.
Holly, M.L. and Mcloughlin, C.S., 1989. Professional development and journal writing.
Perspectives on teacher professional development, pp.259-284.
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Appendix 1- Risk Matrix
Below is the matrix used to determine the treatment of the risks associated with the
Professional Development Plan:
Likelihood
Consequence (impact)
Insignificant
(1)
Minor
(2)
Moderate
(3)
Major
(4)
Catastrophic
(5)
Almost
certain (5)
High
High
Extreme
Extreme
Extreme
Likely (4)
Moderate
High
High
Extreme
Extreme
Possible (3)
Low
Moderate
High
Extreme
Extreme
Unlikely (2)
Low
Low
Moderate
High
Extreme
Rare (1)
Low
Low
Moderate
High
High
Source: Risk Matrix: Lecture 5- Project Management Principles AUT 2017

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