Egg Harbor Township Fixer Upper

Project Manager: Blair Gomes

Task Organizer: Britney Nguyen
Budget Manager: Joe Citro
Director of Research & Communications: Abby Gormley

https://drive.google.com/drive/u/2/folders/1dJ45qlSMXpsWCFnzecgGkEOqOaUS4tz0

December 5, 2019
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Table of Contents

Project Report 4

Final Presentation 8

Product-related documents 13
Research the rental market 13
Determine the location 15
Strategy of finding renters, developing a rental agreement, and collecting & making
payments 20
Discuss ways to convince Nick to help & get bids 22
Different approaches to remove gophers 23
Presentation of Initiating Phase 24
Presentation of Planning Phase 26
Presentation of Renovations 28

Project Management Documents 31

Final Charter 31
Scope Statement 33
Work Breakdown Structure 34
Gantt Chart for Project 36
Network Diagram 37
Final Schedule 39
Stakeholder Register 40
RACI Chart 42
Milestone List 43
Gantt Chart for Fixer Upper 45
Gantt Chart of Renovations 46
Traceability Matrix 47
Probability/ Impact Matrix 48
Risk Register 49
Quality Checklist 51
Cost Estimate 56
Financial Information 57
Loan 57
Cash Flow 58
Investment 60
Sell 62
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Seven Basic Tools of Quality 63

Lessons-Learned Report 64

Progress Reports 66
Progress Report 1 66
Progress Report 1 Presentation 75
Progress Report 2 77
Progress Report 2 Presentation 84

Communications 86
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Project Report
What did your team produce?

Our team produced an 86 page project notebook that includes every task stated in our

fixer upper case study. We used a handful of project management documents as well as

product-related deliverables to complete this six-month renovation project.

Was the project a success or not, and what was your criteria for determining success?

Our Egg Harbor Township fixer upper project was a success, we came in under budget by

about $40,000 and completed it in the time frame of this class but also according to the case

study itself. We had two criteria for determining success, the first being within the first three

months (October 1 to December 31) to find and be able to close on a property in a nice area that

our aunt would like to purchase in within the given budget of $310,000 (before renovations). Our

second was the last three months (January 1 to April 1) to involve all the renovations at the

property, finding renters and to prepare a financial information to share with Aunt Julie.

What project management tools/documents did you use, and did they help?

Our case study used a lot of project management documents throughout all the phases we

had to complete. For initiating we had the scope statement, project charter, a draft schedule (that

was constantly updated), and a stakeholder register. The planning phase included a traceability

matrix, milestone list to help create a Gantt Chart and Network Diagram, a quality management

plan, and probability/impact matrix. Executing was a lot of financial information including our

renovation cost estimate while for monitoring and controlling we updated our risk register. In the

closing stage we completed a lessons-learned report. All these documents were very helpful in
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the completion of the whole project. Having completed one, you were always able to look back

and take ideas from those documents. The lessons-learned report was especially helpful because

it helped us write our project report for our final notebook. The case study really helped us

understand what each of these documents are and how they play a role in project management.

How close was your draft schedule and estimate of hours to the actual schedule and actual hours

worked on the project?

Our draft schedule alloted 54 hours to complete this case study and at the end we

completed in less time at 48.5 hours. It seems like some tasks took less time than expected and

others like the financial spreadsheet took double the time than anticipated. We worked diligently

to complete the case study in a timely manner and gave us room to complete missing links for

the final report.

What went right on the project? What went wrong?

For this project, our communication was most effective in completing the tasks the case

study provided. We also were able to complete this renovation project under budget and received

excellent feedback from our aunt which is great because we saved money that our aunt originally

budgeted meaning she can use it for other house renovations or a rainy day. The only big issue

we ran into while doing this renovation was the fridge not fitting in the first allocated spot in the

kitchen, we had to rework our plan of action and take that into account for our budget (only a

$900 fix) and schedule. Other than that, our house renovation was a success.

What did your team learn by working on this project?

We learned how much really goes into a project, especially a renovation project. We were

all very interested in the idea of the fixer upper so I think it helped in our ability to enjoy
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working on all the project management documents. All the documents we completed were useful

and made the concepts we learned in class and in our reading come to life. The case study overall

enhanced our understanding of project management.

How did you select the project manager?

Since our first project idea (the waste audit) did not work out in our favor, we only had a

week to get a progress report together for our fixer upper case study. During that time, I (Blair)

put together our progress report document and communicated with Abby, Britney and Joe of

what we needed to have completed. We decided as a group that since I got the document

together, that I would become project manager.

Did she do a good job at leading your team?

I (Abby) think that Blair did a great job at leading our team. She stepped up as soon as we

decided groups and has been an effective leader since. Blair made sure from the beginning that

we were set up for success. She has strong communication skills and always made sure everyone

was on top of their work. She was also great with delegating the tasks and that they were done in

a timely manner.

Would she like to be a project manager in the future?

Somewhere down the line, I (Blair) would like to be a project manager for an

environmental consulting company. Having had some experience during my undergraduate

degree (capstone), I liked the idea of being in charge of a group of people because I like to make

sure tasks are completed to the quality they should be and managing a group would give me

more communication skills (something I’m always looking on improving). However, I did not

realize how stressful being a project manager could be. This project compared to my capstone
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was a breeze since I had devoted team members. The stress is the only thing I would be worried

about if I were to become a project manager in the future, but it is definitely something I would

not mind pursuing during my career.

Did you work well as a team?

We worked very well together throughout the whole project. We communicated weekly

and kept up to date with project tasks, everyone was held responsible for their own tasks and

when needed, we asked for help and guidance for the overall completion. Everyone was very

responsive in our group chat which aided in getting the project done in a smooth and timely

manner. Looking back at our MBTI types from the first progress report, we could really see how

our personality types molded with each other to create a high functioning project team. We are

very happy with the turnout of our renovation project and had a lot of fun completing it together.

What was your project sponsor’s final assessment of the project?

Having done a case study, our project sponsor (and primary stakeholder) would have

been our Aunt Julie who paid for the house and wanted to use this as an investment and give us

the chance to pick a location, do most of the renovations with the help of friends and family, and

pick roommates to help fund what would be the monthly costs of living in a 5 bedroom 3 bath

house in Egg Harbor Township. Throughout the project, she was helping out and giving

suggestions of what she thinks might be the best route to go. In the end we presented her with the

initial project goals, planned versus actual scope, time, and cost information, the challenges we

faced during and before and after pictures of the renovations. She was very satisfied and cannot

wait to see what the future has instore for us and this property.
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Final Presentation
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Product-related documents

Research the rental market

Galloway Township, NJ

- $900-$1500 a month

When looking for an investment property to rent, there are a few rules that one should
follow. While researching how to find the best investment property, I found an article on three
formulas to use when analyzing rental properties. When first analyzing a property, you need the
total purchase price. This price needs to be the total acquisition cost, including the upfront
repairs that are needed to make it rent-ready. The first formula to use is the one percent rule.You
need to ask yourself the question - Does the monthly rent equal one percent of the purchase price
of more? For example, a $100,000 property should rent for at least $1,000 per month or a
$300,000 property should rent for at least $300,000 per month. If the property meets the One
Percent Rule, then it merits further consideration. Some property investors believe that one
percent is too lenient and they follow the Two Percent Rule. Those types of properties tend to
exist in high-risk neighborhoods. Here, there is a tradeoff between risk and reward.
Properties are classified as a Class A, B, C, or War Zone. A class A property is one with
high-quality-tenants, safe neighborhoods, and low turnover and vacancy. Class B properties
include mid-quality-tenants, moderate neighborhoods, high turnover and vacancy. Class C
properties are properties classified as low-quality-tenants, crime-plagued neighborhoods, and
high turnover and vacancy. A war zone property is terrifying. Class A properties should meet the
one percent rule. Class C properties should meet the two percent rule. War zone properties
should be avoided unless you’re a professional. This shows that if a tenant risk is higher than
your returns should also be higher.
The One Percent Rule comes from: if a property grosses one percent of its value over a
month, and if there are twelve months per year, then the property grosses 12 percent of its value
per year. Another concept that should be assumed is the 50% Rule-of-Thumb. This concept
states that 50% of your gross revenue will get consumed by operating overhead. This is a
generalized rule. So if a property grosses twelve percent of its value per year and approximately
half of this consumer by operating overhead then the property nets six percent of its value per
year.
I also researched what to look for in a good fixer-upper. Location is almost always the
most important factor when purchasing real estate. This is especially important when looking for
a good fixer-upper. It’s important to choose a location that’s likely to appeal to buyers. Both the
 14

size and the location of the home should be taken into consideration. The best fixer-uppers are
homes that only require minor cosmetic updating rather than major structural repairs such as:
fresh interior and exterior paint, new carpets and flooring, resurfacing kitchen cabinets and
replacing hardware, upgrading appliances, cleaning up the landscaping, removing outdated
fixtures. Once you start getting into dealing with the utilities, moving walls, replacing windows,
and adding or removing portions of the home, the costs can add up fast. Cosmetic upgrades
rarely require a building permit and inspections, and can mostly be done without hiring a
licensed contractor. Major work usually requires contractors and sub-contractors, engineering
reports, and city or county inspections.
Another article on how to find the best fixer upper to buy was written by a husband and
wife that attempted to do so. They go over a list of what to know before buying a fixer upper.
First, know that fixer upper houses generally fall into two categories: either total wreck or ugly
house. A house that is ugly has flaws that can be dealt with, not architecturally appealing. The
second item is that some flaws can cost a lot. Some blemishes that may initially be pushed aside
can eventually cost a lot in the long run. Problems with the foundation, structure, roofing, and
siding can be expensive to fix. Ballparking your renovation costs should be done before buying
the house. A reference sheet should be drawn up for renovation costs such as the roof,
foundation, HVAC, and windows. This will help you determine a viable offer price. Asking for
a discount can also be done, let the seller know you found some issues that will take time and
money to fix it. Then subtract that sum from their asking price. The more you break down your
expenses, the more sense your offer will make to the sellers. Finally, getting the right kind of
loan will also be helpful. A home requiring major renovations van qualify for a special type of
financing called a renovation loan.

Amodio, Rosie. “Before You Buy a Fixer Upper House, Read This>.” ​Real Estate News and
Advice | Realtor.com®,​ Realtor.com, 24 Nov. 2015,
https://www.realtor.com/advice/buy/how-to-buy-a-fixer-upper/.

Pant, Paula. “Should You Invest in This Rental Property?” ​Afford Anything​, 25 Jan. 2012,
https://affordanything.com/income-property/.

Redfin. “What to Look for in a Good Fixer-Upper.” ​Buying a Fixer-Upper: What You Need to
Know,​ Jan. 2019, https://www.redfin.com/guides/faq/buying-or-selling-a-fixer-upper.
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Determine the location

Three potential locations:
● Egg Harbor Township
● Wayne Township
● Cape May
Egg Harbor Township
- Average rent: $1,723

House Listing Cost/Payments & Size

- $234,900
- 4 bedrooms and 3
bath
- Est. payment:
$1,417 a month

https://www.zillow.com/homedetails/37-Ba
rtlett-Blvd-Egg-Harbor-Township-NJ-0823
4/37795124_zpid/

- $235,900
- 4 bedrooms and 2
bath
- Est. Payment:
$1,388

https://www.zillow.com/homedetails/151-
Winnepeg-Ave-Egg-Harbor-Township-NJ-
08234/37793305_zpid/
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- 249, 900
- 3 bedroom and 3
bath
- Est. Payment:
$1,470

https://www.zillow.com/homedetails/409-
Oakland-Ave-Egg-Harbor-Township-NJ-0
8234/37793609_zpid/

- $259,900
- 4 bedrooms and 3
bath
- Est. payment:
$1,512 a month

www.zillow.com/homedetails/515-Dogwo
od-Ave-Egg-Harbor-Township-NJ-08234/3
7793367_zpid/

- $250,000
- 5 bedrooms and 3
bath
- $1,291 a month

https://www.zillow.com/homedetails/1828-
Shore-Rd-Linwood-NJ-08221/37818702_z
pid/
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Cape May

House Listing Cost/Payments & Size

- $250,000
- 4 bedrooms and 2 bath
- $1,291 a month

https://www.zillow.com/homedetails/1-Co
mmander-Rd-Cape-May-NJ-08204/383479
03_zpid/

- $244,900
- 4 bedrooms and 2 bath
- $1,265 a month

https://www.zillow.com/homedetails/105-
Williams-St-Cape-May-NJ-08204/3834695
2_zpid/
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- $258,000
- 6 bedrooms and 3 bath
- Est. payment: $1,316

https://www.zillow.com/homedetails/928-C
arol-Ave-Cape-May-NJ-08204/38345735_z
pid/

- $259,900
- 3 bedrooms and 2 bath
- Est. payment: $1,326

https://www.zillow.com/homedetails/752-A
cademy-Rd-Cape-May-NJ-08204/3834836
7_zpid/

- $299,000
- 3 bedrooms and 2 bath
- Est. payment: $1,526

https://www.zillow.com/homedetails/220-
Mindy-Ave-Cape-May-NJ-08204/3834677
5_zpid/
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Newark, NJ

House Listing Cost/Payments & Size

- $295,000
- 5 bedrooms and 2
bath
- Est. payment:
$1,801 a month

https://www.zillow.com/homedetails/15-
Unity-Ave-Newark-NJ-07106/38711877
_zpid/

- $249,000
- 3 bedrooms and 2
bath
- Est. payment:
$1,535

https://www.zillow.com/homedetails/57-
Palm-St-59-Newark-NJ-07106/10862096
8_zpid/

- $255,000
- 4 bedrooms and 3
bath
- Est. payment:
$1,557

https://www.zillow.com/homedetails/274
-Meeker-Ave-276-Newark-NJ-07112/38
707526_zpid/
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Strategy of finding renters, developing a rental agreement, and collecting

& making payments
In today’s world, most college-aged people revolve their lives around social media. That is how
most people communicate. This explains why a top way to find a roommate is through Facebook and
other social media sites. In an article posted by Apartment Therapy, they give steps on how to find a
reliable roommate through various social media applications. On Facebook, it is best to post a status
update asking if anybody in your city is looking for a roommate because it will be friends and
acquaintances responding to this request. Other ways to reach out to potential roommates on social
media is to post to a Facebook page for your city or neighborhood of the city the area the house is
located in or by using Facebook ads to advertise a room in the house that is available. Facebook
advertising allows the ads to be targeted towards certain demographics such as age and gender.
Twitter is an additional social media platform to use to find roommates. To start, tweet that you are
looking for a potential roommate to your followers and you can potentially reach more people by
adding a hashtag. You can also use Twitter’s search feature to find people in your city looking for
roommates or places to live.
Moving.com posted an article on tips for finding a roommate on craigslist. Craigslist is one of the
most popular classified advertisements websites. Before social media took off, Craigslist was one of
the only options to post ads for roommates online. Although today there are plenty of ways you can
find a roommate, Craigslist still persists as one of the go-to’s because it is free and easy. Before
posting an add, you need to know what you’re looking for in a roommate. All of the people that are
going to be living in this fixer-upper house are students at Stockton University. Meaning that, a
roommate that parties often and is loud will not be tolerated. You can narrow down your search by
figuring out what kind of person you would like to live with and what some deal breakers would be.
Coming up with these parameters before you start searching for a roommate is ideal because you can
easily identify prospects with the most potential. Another tip that they share is to meet up with a
potential roommate before signing the lease. Don’t bind yourself to live with someone before even
meeting them. Use this first meeting to see how well you get along and to also ask questions that
might dictate whether they’re a good fit.
Other ways to find roommates are listed in an additional article found.You can hire locators, a
rental agency that specializes in helping prospective tenants find their ideal home based on their
needs. These are great sources for finding high-quality residents, but it also costs a lot of money. You
can also partner with a real estate agents to advertise through them. An old school way of finding
roommates is printing fliers to post around your town in local businesses. For this rental, I believe the
most successful way to find tenants in the area is through social media, especially in Stockton and
Egg Harbor Township groups and by posting fliers on Stockton’s campus.
Collecting rent and getting paid on time can be hard for some landlords. A renter may look good
on paper but after a few months, they may not be as reliable as they seemed. There are a few sources
online that recommend the best ways to collect rent money. Requiring tenants to pay rent via an
auto-pay system is thought of as the best way to collect rent on time. The major benefit of this is that
 21

it eliminates the factor of human error, such as tenants ‘forgetting’ to pay. Obviously another great
way is to choose tenants wisely. Setting criteria for possible tenants will help in being clear about
exactly what you are looking for. Looking for tenants with a regular income that is more than the rent
will also help. These income requirements will also help find established history of paying rent on
time in the past. Checking references will definitely assist in finding the right tenant. Landlords
should have a ‘no cash’ policy. Cash is easily lost and it does not leave a paper trail. Another big step
in collecting rent is to enforce your rent collection policy, whatever it may be. In the lease, the
following should be addressed: exact amount due every month, where payments are made, acceptable
payment methods, when the rent is due, and grace periods. Feel free to cut tenants slack only if you
are sure that a good renter is experiencing a ‘just this once’ type of issue. You don’t want the tenants
taking advantage of your generosity, so don’t make a habit of being lenient. If a tenant is paying late,
ask the necessary questions to find out why. Questions should include: when do you expect to make a
payment, where will you be submitting your payment, what is the exact amount that you will be
paying, what will be your method of payment, and what is the source of income you will be using to
make your payment. If the tenant is being evasive in answering, serve them an eviction notice the next
day. Consequences of not paying on time should be known. You have to be prepared to report a
past-due tenant to the credit agency. Make sure your tenants know that you will report them, which
will ruin their credit. You must include a statement in your lease agreement, informing your tenants
that late rent payments may be reported to the three major credit agencies. This alone will likely keep
the tenant on their toes and ensure that you receive rent payment on time.
There are also several different ways you can collect rent. One way to accept rental payments is
online. Although if you choose to go this route, you usually have to allow another form of payment
for those renters that do not have access to online resources, such as paying rent by mail. There are
many online sites which offer online payment services to landlords. You can research online rental
collection services to find the site that best suits your needs. These sites cost the landlord and prices
will vary on the plan selected. PayPal and Venmo are other options for collecting payments online.
Venmo allows for instant payment and PayPal is a free service. Collecting rent by mail is another
option. This saves you time of having to collect the payments yourself. Drop-off locations can also be
used if you have an office. Collecting rent in person is an option as well. This way, you have the
payment in your hands immediately.

Eberlin, E. (2018, December 10). 5 Best Ways to Collect Rent From Tenants. Retrieved from
https://www.thebalancesmb.com/collecting-rent-from-tenants-2124980.
Mueller, L. (2018, October 16). 8 Tips for Finding a Roommate on Craigslist. Retrieved
November 24, 2019, from
https://www.moving.com/tips/8-tips-for-finding-a-roommate-on-craigslist/.
Thompson, S., Sara, & Zenith Properties NW. (2014, June 12). 7 Tips for Collecting Rent and
Getting Paid On Time. Retrieved November 25, 2019, from
https://www.landlordology.com/collecting-rent-on-time/.
Williford, T. (2012, March 1). Using Social Media to Find a Roommate. Retrieved November
25, 2019, from Using Social Media to Find a Roommate.
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Discuss ways to convince Nick to help & get bids

Getting our relative Nick to install laminate flooring and raise the ceiling is a worthy
endeavor. Our friend has made it clear that he can do it for us, but he is busy, and if he agrees to
do the flooring and raise the ceiling then he will not have time to put in the countertops or skim
coat and paint the ceiling. If Nick were able to help us, then we could accomplish all of these
tasks on budget. Based on bids obtained from Priority Home Development, LLC; and a local
hardware store; laminate flooring will cost between $6.50 and $7.00 per square foot to install.
Because there is another floor located above the kitchen “raising” the ceiling 6 inches will not be
possible. Instead what we can do is rearrange the location of the fridge and the newly installed
cabinets. We knock out the soffit above where the cabinets would go, put the fridge there, and
move the cabinets to where the fridge was originally planned to be. Removing the soffit to
accommodate the fridge is estimated to cost $250. The budget for these renovations is:

Laminate Flooring
$6.50/sf X 100sf (average kitchen) = $650

Soffit Removal (Ceiling Raising)

$250

Total
$900

Since it is in our best interest to get our relative Nick to help us out, we should have a
plan on what to offer him in return for his help. For starter it is customary to buy lunch for
someone who is helping with something as physically involved as renovations. Pizza, subs,
chinese food, and beer are always welcome tokens of appreciation for someone working hard on
something on your behalf. If need be, we could also offer him a room at a discounted rate if he is
looking to move into the area for college. Finally, we can offer to return the favor when he needs
help moving in his belongings if he does choose to move into the house.
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Different approaches to remove gophers

Gophers are small mammals that typically make their homes in lawns and crop fields. They have become
a major problem for homeowners and farmers. Gophers can leave unsightly dirt mounds in yards and
readily feed on garden plants. Most yards offer a food source for them because they feed underground by
eating the roots of plants such as alfalfa, carrots, grasses, dandelions, potatoes, tulips, and tree bark. They
establish tunnels throughout the yard. There are several different ways to get rid of gophers.
One way is to trap them, which takes patience and effort but can be successful if they are placed
correctly. You can trap gophers all year round. The best way to trap them is first finding gresh mounds,
which have granulated soils, are uncompacted, built taller, and have dark soil. You can locate the mian
tunnel by locating the soil plug in a fresh mound. The main tunnel should be about a foot away from the
plug. Use a probe to find the tunnel, the soil will give easily once you find the tunnel. You then need to
dig a small hole, just large enough to place the trap and get rid of the excess soil. Place two traps in the
hole, facing opposite ways and attach the traps to stakes with thin wire so you can find them after. You
then need to replace the dirt to block out light and air. These traps need to be checked once a day.
Another way to get rid of gophers is to bait them. Poison baits can be every effective in killing
and controlling gophers on your property. Again, you need to find the main tunnels to start. Once finding
a tunnel, dig a small hole and apply the bait using a small spoon. The different types of bait will list rates
on the label. Gently replace the soil in the hole and make sure not to cover up any of the bait. Within a
few weeks, the bait should take affect. You may have to keep applying the bait to ensure that the gophers
haven eaten it. Continue to check for new, fresh mounds, this will be an indication on how successful you
were.
A third way to get rid of gophers is by gassing the tunnels. It can work well if you know where
the active tunnels are established. Find an active tunnel or mound to begin. Then, gather extra soil, rocks,
or other suitable material to close the tunnel or mound after inserting the gasser cartridge and to seal other
entrances to stop gas from escaping. Continue to gather materials to seal any other mounds or openings.
Dig a small hole into the mound or tunnel to insert the gasser cartridge and then insert the fuse into the
gasser cartridge. Quickly light the fuse and insert the gasser cartridge in the opening you created, fuse end
first. Immediately cover the opening with the gathered material. The hole needs to be covered so that the
gas is not escaping but you also don’t want to smother the cartridge.
No treatment method will be successful if it isn’t paired with a prevention method. You can use
physical barriers such as fencing, mulch, gravel, or gopher baskets to stop them from digging in your
yard. Raised plant beds are an effective way to ‘gopher-proof’ your plant. Introducing natural predators is
also a good way to get rid of them. Your pets will chase the gopher off and may be enough to make the
gopher avoid your yard all together. You can also try modifying their habitat either by reducing
vegetation or packing the dirt.

https://www.pests.org/get-rid-of-gophers/
https://www.nwf.org/Educational-Resources/Wildlife-Guide/Mammals/Pocket-Gophers
https://www.domyown.com/how-to-get-rid-of-gophers-a-605.html
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Presentation of Initiating Phase

25
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Presentation of Planning Phase

27
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Presentation of Renovations
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30
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Project Management Documents

Final Charter

Project Title: ​Egg Harbor Township Fixer Upper

Project Start Date: ​October 1, 2019​ Projected Finish Date: ​April 1, 2020

Budget Information:

Up to $350,000 on the right property, includes $40,000 of renovations

Closed on property at $240,900 and spent $69,800 on renovations

Under budget by $39,300 which leaves room for more improvements or save money for a
rainy day

Project Manager: Blair Gomes, gomesb@go.stockton.edu

Project Objectives:

To find and renovate a house that Aunt Julie would own but we would live in and be able
to rent out one to three rooms.

Success Criteria:

First 3 months (October 1 to December 31) finding and closing on a property in a nice
area within in the budget

Last 3 months (January 1 to April 1) involve renovating the property, moving in, finding
renters, and preparing financial information

Approach:

Finding the best property with minimal renovations for a quick and easy move in
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Roles and Responsibilities

Name and Signature Role Position Contact Information

Blair Oversees all Project Manager gomesb@go.stockton.e

aspects of entire du
project

Joe Budget guidance Financial Manager citroj@go.stockton.edu

Abby Point of contact Director of gormleya@go.stockton

for contractors & research and .edu
other parties communications

Britney Manages tasks in Task organizer nguyenb5@go.stockto

each phase n.edu

Aunt Julie Buyer of property Stakeholder 555-555-5555

Comments: (Handwritten or typed comments from above stakeholders, if

applicable)

J​ ulie would like to buy a property where she can act more like a bank than a landlord but
does not exceed the budget stated above.
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Scope Statement
Project Title: ​Egg Harbor Fixer Upper

Date: ​November 7, 2019​ Prepared by: ​Blair, Britney, Abby, Joe

Project Justification:

The reason for this project is to find a home that will be fixed up where we can live in the
area for a number of years while also helping our aunt in her vision to act more like a
bank than a landlord by financing the project and handling funds.

Product Characteristics and Requirements:

1. 3-4 bedrooms with at least 2 full baths

2. Up to $350,000 including $40,000 of renovations
3. Finding preferably two renters
4. Financial analysis

Product User Acceptance Criteria:

Finding an acceptable fixed up house

Summary of Project Deliverables

Project management-related deliverables: ​charter, scope statement, WBS, schedule,

cost estimate, final project presentation, final project report, lessons-learned report

Product-related deliverables:​ plan and oversee renovations of the house, finder renters,
bids of major expenses for financial analysis

Main House Renovations:

1. Rent a dumpster to get rid of junk in yard and house (old carpet, kitchen material)
2. Remodel the kitchen (new cabinets, appliances, sink, lights, counter tops)
3. Buy a new furnace, washer & dryer, sump pump and several, electrical outlets
4. Replace all windows
5. Put in laminate flooring throughout house (minus bathroom)
6. Paint entire inside of the house
7. Spruce up yard (removing old shrubs, planting flowers, repairing fence, leveling
& seeding lawn)
 34

Work Breakdown Structure

1.0 Initiating
1.1 Research Rental Market
1.2 Determine Location
1.3 Stakeholder Register
1.4 Project Charter
1.5 Initial Scope Statement
1.6 Draft Schedule
1.7 Presentation of Results
2.0 Planning
2.1 Develop
2.1.1 Requirements Traceability Matrix
2.1.2 More Detailed Scope Statement
2.2 Milestone List
2.3 Initial Gantt & Network Diagram
2.3.1 Gantt Chart for fixer upper project
2.3.2 Gantt Chart for team to do case study
2.3.3 Network Diagram
2.4 Create
2.4.1 Quality Management Plan
2.4.2 Quality Checklist
2.5 RACI Chart
2.6 Probability/Impact matrix
2.7 Presentation of results
3.0 Executing
3.1 Develop cost estimate
3.2 Detailed Gantt Chart for renovations
3.3 Prepare
3.3.1 Strategy for finding renters
3.3.2 Developing rental agreement
3.3.3 Collecting & making payments
3.4 Create Financial information spreadsheet
3.4.1 Loan
3.4.2 Cash Flow
3.4.3 Investment
3.4.4 Sell
4.0 Monitoring & Controlling
4.1 Convince
4.1.1 Convince relative
4.1.2 Get to bids if hired someone
4.2 Approaches
4.2.1 Getting rid of gophers
4.2.2 Recommendation
 35

4.3 Seven Basic Tools of Quality

4.4 Update
4.4.1 Prioritized risks
4.4.2 Risk register for two
5.0 Closing
5.1 Presentation of Results
5.1.1 Initial project goals
5.1.2 Planned vs. actual scope
5.1.3 Time & Cost Information
5.1.4 Challenges faced
5.1.5 Before & After pictures
5.2 Lessons-learned report
5.3 Final project report
 36

Gantt Chart for Project

 37

Network Diagram

Label Task

A Research Rental Market

B Determine location

C Renovation list

D Cost estimate

E Financial Info (Loan, Cash Flow, Investment, Sell)

F Strategy for finding renters/ rental agreement & collecting payments

G Initial Project Charter

H Initial Scope Statement

I Updated Scope Statement

 38

J Final Project Charter

K Schedule

L Milestone List

M Gantt Chart

N Final Schedule

O Final Gantt Chart

P RACI Chart

Q Traceability Matrix

R Probability/Impact Matrix

S Risk Register

T Quality Management Plan

U Lessons-Learned Report

V Final Project Report

 39

Final Schedule
 40

Stakeholder Register
Name Position Internal/External Project Role Contact
Information

Blair Project Internal Oversees all gomesb@go.stockto

Manager aspects of n.edu
entire project

Joe Financial Internal Budget citroj@go.stockton.

Manager guidance edu

Abby Director of Internal Point of gormleya@go.stock

research and contact for ton.edu
communicatio contractors &
ns other parties

Britney Task organizer Internal Manages nguyenb5@go.stock

tasks in each ton.edu
phase

Aunt Julie Buyer of Internal Oversees 555-555-5555

property

Carolyn George Realtor External House- 609-646-1900

hunter

Bank of Banker External Lend money 609-645-7575

America: Egg to refinance
Harbor current home
Township to purchase
 41

investment
property

T.K. Home Contractor External Most of the 609-470-3106

Improvements, renovation
LLC work for a
great price

Nick Family helper Internal Basic help on 777-777-7777

renovations
on the
weekends

Eric Zimmer Electrician Internal Basic help at 732-910-0292

(acquaintances) a discounted
price

R. Eric Gomes Plumber Internal Basic help at 732-841-8231

(acquaintances) a discounted
price
 42

RACI Chart

RACI Matrix
Abby Blair Britney Joe
Phase 3: Execution
Renovation Cost Estimate C A C R
Renovation Gantt Chart A R A A

Formalize Renter R A I
Management Policy/Strategy I
Financial Summary
C A C R
Spreadsheet
Phase 4: Monitoring and Control
Install Laminate Countertops C A C R
Gopher Removal R A C C
Quality Tool Chart I R I I
Updated Prioritized Risk
I A R
Register I
Phase 5: Closing
Renovation Progress
R A A A
Presentation
Lessons Learned Report A A R A
Final Project Report A R A A

R Responsible
A Accountable
C Consulted
I Informed
 43

Milestone List
Milestone Date Status Responsible Issues/Comments

Quotes on all 1/1/20 Joe Hard to find reliable

renovations COMPLETE contractors and
cheaper prices

Close on house 1/1/20 COMPLETE Blair & Aunt N/A

Julie

Rip out carpet 1/7/20 COMPLETE All Went well

Gut kitchen 1/10/20 COMPLETE All Went well

Prepare walls for 1/14/20 COMPLETE All Went well

painting

Paint walls 1/19/20 COMPLETE Alll Went well

Finish kitchen 1/31/20 COMPLETE All Ceiling too lows,

renovations needs to be raised.
Adds in more work
and funds

Install flooring 2/10/20 COMPLETE All Went well

Install windows 2/15/20 COMPLETE All Went well

Clean entire house 2/20/20 COMPLETE All Went well

Move in furniture 3/5/20 COMPLETE All Went well

 44

Interview potential 3/28/20 COMPLETE Blair Hard to find reliable

roommates roommates

Sign two renters 4/1/20 COMPLETE Blair & Aunt Signed cousin early,
Julie can’t pay much.
 45

Gantt Chart for Fixer Upper

** Complete Gantt Chart in Google Folder including December through April**

https://docs.google.com/spreadsheets/d/190-tyiH5XM_k3amuqSXbUpTjvTcP3EWALdC0nnJu9
4k/edit#gid=0
 46

Gantt Chart of Renovations

https://docs.google.com/spreadsheets/d/14TF8UAId8DtLLxxoq31U0N675tJfrfqehv-5FqOtsTM/
edit#gid=0
 47

Traceability Matrix

Requirement Name Category Source Status

No.

1.1 Abby Initiating Research Rental 100%

Market

1.2 Abby Initiating Determine 100%

Location

3.1 Joe Executing Develop Cost 100%

Estimate

3.4 Joe Executing Financial 100%

Spreadsheet

5.2 Britney Closing Lessons Learned 100%

Report

5.3 Blair Closing Final Project 100%

Report
 48

Probability/ Impact Matrix

Risk Task

1 Fail to find location

2 Fail to find house within

requirements

3 Fail to stay within budget

4 Fail to find roommates

5 Fail to tent house

6 Fail to rent dumpster

7 Fail to remodel kitchen

8 Fail to buy new appliances

9 Fail to fix windows, flooring, paint

house

10 Fail to clean yard

 49

Risk Register

Risk Management Plan

Project Name​: Risk Register for Egg Harbor Township Fixer Upper

1. Methodology
Manage potential risks before they occur

2. Roles and Responsibilities

Helps project team know who is responsible for what tasks and what risks can occur if not
prepared

3. Budget and Schedule

Keeps team from scope creep to maintain the budget and schedule

4. Risk Categories
Helps define how the risks may affect the overall project (ex.​schedule, cost, quality, and scope)

5. Risk Probability and Impact

Impact and probability are the two main components of Risk analysis.The probability is the
likelihood of an event occurring and the consequences, to which extent the project is affected by
an event, are the impacts of risk

6. Risk Documentation
This is maintained in order to monitor potential risks

Risk Register

ID Risk Description Category Potential Probability Impact Status

No. Responses

1 Fail to find Did not find a Scope Avoid MED HIGH 100%
location location to buy a
house

2 Fail to find house House did not meet Scope Avoid MED HIGH 100%
within all of Aunt Julie's
requirements specifications
 50

3 Fail to stay within House and Cost Avoid LOW HIGH 100%
budget renovations over
was costly and over
budget

4 Fail to find Did not reach out to Scope Mitigate LOW HIGH 100%
roommates the public on time
to find suitable
roommates

5 Fail to tent house House was not Quality Mitigate ​MED LOW 100%
cleaned and
maintained

6 Fail to rent Could not find a Schedule Mitigate LOW LOW 100%
dumpster dumpster company
on time

7 Fail to remodel Did not finish Quality Mitigate MED MED 100%
kitchen remodeling kitchen

8 Fail to buy new Did not install all Cost Mitigate MED MED 100%
appliances the necessary
appliances

9 Fail to fix Windows, floors, Quality Mitigate ​LOW MED 100%

windows, and walls were not
flooring, paint finished to
house standards

10 Fail to clean yard Did not landscape Quality Mitigate ​HIGH MED 100%
the front and
backyard

11 Failed kitchen Ceiling too low to Quality Mitigate MED MED 100%
ceiling plan manage
 51

Quality Checklist

Quality Management Plan

Introduction:

We have purchased a fixer-upper house in Egg Harbor Township for our Aunt Julie. We
are in charge of renovating the 5-bedroom, 3-bath house in 4 months and finding roommates to
live there. We are creating a quality management plan to ensure that the remodeling goes well.
We will be ripping out the flooring and kitchen, totally remodeling the kitchen, buying new
appliances throughout the house, painting the house, and redoing the yard. We need to make sure
that everything goes smoothly and our Aunt Julie is happy with the renovations.

Quality Standards

- Complete the remodeling with Aunt Julie’s wishes.

Metrics

- Stay within the budget

- Find reliable professionals
- Completing all renovations by 2/15
- Make sure friends will show up to help

Problem Reporting and Corrective Action Process

- Estimating the remodeling cost under budget so that if there is a problem, we will have
some money left to cover without going over budget.
- Creating the remodeling schedule to be done a week early, so if someone is running late,
it won’t impact the move-in date.
- Scheduling friends and family to help and remind them of their duties to help remodel.
- Finding back-up contractors in case a friend backs out

Supplier Quality and Control

Quality Checklist

Project: Egg Harbor Fixer-Upper Date: 11/1/19

Verification
 52

Quality Item Yes No N/A Date Comments

Does the project have x

an approved quality
management plan?

Has the quality x Stakeholders were

management plan given a contract on
been reviewed by all deadlines and the
stakeholders? budget to ensure it
will be met

Do all stakeholders x They have access to

have access to the their contracts
quality management
plan?

Is the quality x
management plan
consistent with the
rest of the overall
project plan?

Have product quality x The group agreed

metrics been upon the metrics
established, reviewed, that need to met
and agreed upon?

Do all metrics support x

a quality standard
which is acceptable to
the customer?

Do all metrics have x

agreed upon collection
mechanisms?
 53

Do all metrics have an x

agreed upon collection
frequency?

Have quality metrics x Quality metrics will

review meetings been be reviewed
scheduled throughout throughout the
the project's remodeling
duration?

Are all metrics clear, x

measurable,
controllable, and
reportable?

Is the project team x Each member

familiar with the reviewed the process
project's quality
review process?

Does the project have x

an appropriate
number of resources
assigned for quality
assurance and
control?

Has the project team x

established a
repository for all
quality
documentation?

Do all team members x Through google

have access to the drive
quality documentation
repository?
 54

Have all appropriate x Roles have been

team members been assigned
notified of their
required participation
in quality reviews?

Have quality x
responsibilities been
assigned and
documented and the
applicable personnel
notified?

Have product and x

process quality
standards been
established,
documented, and
communicated?

Have quality x
thresholds and limits
been established,
documented, and
communicated?

Does the change x Yes, extra money

control process and time have been
accommodate project built into the
changes based on schedule and budget
quality
improvements?

Has a project quality x Blair

manager been
assigned?

Is the project sponsor x

aware of his/her
responsibilities
 55

relating to quality
acceptance?

Is the customer aware x

of his/her
responsibilities
relating to quality
acceptance?
 56

Cost Estimate

PRIORITY
HOME
DEVELOPMEN
T, LLC November 10, 2019
Egg Harbor Township Fixer
Project: Upper
1828 Shore Rd, Linwood
Location: NJ 08221

Budget Summary 3,152 GSF

CSI Trade Description Subcontractor Budget Total Cost/GSF
020000 General Requirements $4,370 $1.39
088000 Windows $10,000 $3.17
096600 Laminate Flooring $16,900 $5.36
099000 Painting $7,895 $2.50
110000 Appliances $4,950 $1.57
120000 Cabinets and Counters $8,500 $2.70
220000 Plumbing $1,500 $0.48
230000 HVAC $8,000 $2.54
260000 Electrical $2,000 $0.63
312000 Landscaping $3,000 $0.95

Subtotal Trade Cost $67,115 $21.29

Soft Cost
Architect by owner $0.00
Permits $1,342 $0.43
Insurance $1,342 $0.43
Real Estate Taxes by owner $0.00
Financing by owner $0.00

Subtotal Soft Costs Cost $2,685 $0.85

Total Project Cost $69,800 $22.14

Markup 0.0% $0 $0.00

Sale Price $69,800 $22.14

 57

Financial Information

Loan
 58

Cash Flow
59
 60

Investment

First Year Investment (Monthly)

Month Investment Month Investment

January $1,450.00 July $10,150.00

February $2,900.00 August $11,600.00

March $4,350.00 September $13,050.00

April $5,800.00 October $14,500.00

May $7,250.00 November $15,950.00

June $8,700.00 December $17,400.00

Yearly Investment

Year Investment

2 $34,800.00

3 $52,200.00

4 $69,600.00

5 $87,000.00

6 $104,400.00

7 $121,800.00

8 $139,200.00

9 $156,600.00

10 $174,000.00

10 Year Interest Value: $174,000.00

61
 62

Sell

Initial Deal 10 Years Later

Property $240,900.0 Total $174,000.0

Cost 0 Payment 0
-$105,763.
Renovation $69,800.00 Interest 00
Project $310,700.0 Principal
Cost 0 Reduction $68,237.00

Cannot Principal $310,700.0

Afford -> Bank Loan Borrowed-> Investment 0
20% Principal -$68,237.0
Deposit $62,140.00 Paid Back-> Reduction 0
Loan $242,463.0
What's Left-> Balance 0

Aunt
Finances-> Mortgage from Aunt
Selling $450,000.0
Financing 100% Price-> House Value 0
What's Left to -$242,463.
Interest 3.80% Pay-> Loan Balance 00
What We $207,537.0
Term 30 Year Get-> Home Equity 0
Payment $1,450.00
Ownership 20%
 63

Seven Basic Tools of Quality

Defects/ Event Dates Total

Occurrence
Sunday Monday Tuesday Wednesday Thursday Friday Saturday

Ceiling too low 0 0 0 0 4

in kitchen

Put in countertop 0 1

Skim coat 0 1

Paint the ceiling 0 1

Gopher problem 0 0 2
in the backyard

Total 2 1 1 1 1 1 2 9

Friends came to help tear out carpeting, gut the kitchen, and prepare the walls for painting the first two
weeks in January and paint the walls the third weekend. A friend will come the first week of February and
help with the kitchen renovations.

The biggest issue at the moment is the effort to fix the low ceiling for the refrigerator space with the
friend that flew in to help with the kitchen renovations. They can help to fix that issue (takes a whole day
of work) but leaves having to finish renovations (counter tops, skim coat and paint the ceiling) to us and
getting other friends to help.
 64

Lessons-Learned Report
Date: December 5, 2019

Project Name: Egg Harbor Township Fixer Upper

Project Sponsor:​ Aunt Julie

Project Manager:​ Blair Gomes

Project Dates: ​10/1/19-4/1/2020

Final Budget: ​ $350,000 including $40,000 of renovations

1. Did the project meet scope, time, and cost goals?

● The project’s scope, time, and cost goals were all met.

2. What was the success criteria listed in the project scope statement?

● First 3 months finding and closing on a property with in a nice area within the
budget
● Last 3 months involve renovating the property, finding renters, and preparing
financial information

3. Reflect on whether or not you met the project success criteria.

● Project success criteria was met

● House was in budget and renovations were done in a timely manner
● Reached out to renters and used multiple platforms to advertise the house for rent
● Completed a financial spreadsheet on final costs and budget

4. What were the main lessons your team learned from this project?

● It is necessary to stay on schedule so that there is no scope creep

● We learned that organization is key → helped us evaluate our next steps
● Breaking down the work before hand gives us a better understanding of who
needs to do what and by when

5. Describe one example of what went right on this project.

● Communication between project members was effective

 65

■ Able to develop detailed design and specifications which helped better our
cost estimate

6. Describe one example of what went wrong on this project.

● Renovations were more costly than expected due to purchase of a larger

House
Saved money on budget
● Kitchen ceiling was too low (fridge did not fit)

7. What will you do differently on the next project based on your experience
working on this project?

● Cheaper and larger houses are not always better

● Keep in mind the amount of renovations needed → look at interior structure
carefully
 66

Progress Reports
Progress Report 1

INTRODUCTION:

As a team, we are working on finding a piece of property in Egg Harbor Township that

needs some remodeling. Our aunt is happy to help in investing in a piece of property that she

deems to be the right property, including the home being in a nice area with 3 or 4 bedrooms and

two full baths. The reason for this project is to find a home that will be fixed up where we can

live in the area for a number of years while also helping our aunt in her vision to act more like a

bank than a landlord. The main deliverables of this project are finding a piece of property in our

budget that meets the expectations of us and our aunt and finding roommates to help with the

financial cost of having bought a house. We will measure success by keeping in contact with one

another on properties found, out of properties found, finding the best price with the need of some

renovations, and making sure we stay on schedule to complete our project in a timely manner.
 67

PROGRESS REPORT 1:

Date: ​October 17, 2019

Project Name: ​Egg Harbor Township Fixer Upper

Reporting Period: ​Progress Report 1 on October 17, 2019

Work completed this reporting period:

● Preliminary project charter, scope statement, team contract and a draft schedule moving
forward

Work to complete next reporting period:

● To have completed all tasks in Part 1, 2, and 3 (Initiating, Planning and Executing) in the
case study

What’s going well and why:

● We now have a project that has a more reasonable scope for the allotted time frame.

What’s not going well and why:

● We ran into an issue with our previous project not being feasible to complete by the end
of the semester. We decided to switch gears to a case study and now have to make up for
lost time.

Suggestions/Issues:

● Playing catch up from when we switched projects at the last minute

● Scheduling meeting times to monitor progress.

Project changes:

● Initial project (waste audit) was too much for the class, just started to work on this case
study
 68

PROJECT CHARTER:
Project Title: ​Egg Harbor Township Fixer Upper

Project Start Date: ​October 10, 2019​ Projected Finish Date: ​November 21, 2019

Budget Information:

​Up to $350,000 on the right property, includes $40,000 of renovations

Project Manager: Blair, gomesb@go.stockton.edu

Project Objectives:

Find the right piece of property that will be a good investment and a place to call home
for years to come

Success Criteria:

Obtain property with all requirements within budget and with a renovations required to
not exceed our funds set aside for this task

Approach:

Finding the best property with minimal renovations for a quick and easy move in

Roles and Responsibilities

Name and Signature Role Position Contact Information

Blair PM gomesb@go.stockton.e
du

Joe Budget manager citroj@go.stockton.edu

Financial Liaison
 69

Abby Director of gormleya@go.stockton

research and .edu
communications

Britney Task organizer nguyenb5@go.stockto

n.edu

Aunt Julie Buyer of property Financier 555-555-5555

Comments: (Handwritten or typed comments from above stakeholders, if

applicable)

​Julie would like to buy a property where she can act more like a bank than a landlord but
does not exceed the budget stated above.

COMMUNICATIONS:

● Spoke with Jason after class October 10, 2019 to discuss basic information in regards to

the fixer upper case study

 70

PRELIMINARY SCOPE STATEMENT:

Note: Describe each product-oriented deliverable using at least two complete sentences
Project Title: ​Egg Harbor Fixer Upper

Date: ​October 17, 2019​ Prepared by: ​Blair, Britney, Abby, Joe

Project Justification:

The reason for this project is to find a home that will be fixed up where we can live in the

area for a number of years while also helping our aunt in her vision to act more like a

bank than a landlord by financing the project and handling funds.

Product Characteristics and Requirements:

1. 3-4 bedrooms with at least 2 full baths

2. Up to $350,000 including $40,000 of renovations
3. Finding roommates to pay for portion of rent of unused bedrooms

Product User Acceptance Criteria:

Finding an acceptable fixed up house

Summary of Project Deliverables

Project management-related deliverables: ​charter, team contract, scope statement,

WBS, schedule, cost baseline, status reports, final project presentation, final project
report, lessons-learned report

Product-related deliverables: ​property​ ​research reports, architectural design expert,

necessary structural inspectors (Fire, HVAC, plumbing, electrician)

1. Property within purchasing budget

2. Property within renovation budget
3. Property that meets layout requirements
 71

Team Contract

Date: October 17, 2019

Project Name: ​Egg Harbor Township Fixer Upper

Project Team Members’ Names and Sign-off:

Name Date

Blair Gomes October 15, 2019

Abby Gormley October 15, 2019

Joseph Citro October 16, 2019

Britney Nguyen October 16, 2019

Code of Conduct:​ As a project team, we will:

● Work together to ensure that we meet the goals of the client and all other stakeholders.
As a team we will work as a unit to organize, plan, and execute the project to the best of
our abilities. Our workplace is a safe environment for all of our employees. All team
members will be respected and valued as we strive for an honest, unbiased and
unprejudiced workplace.

Participation: ​We will:

● Work hand in had as a unit bringing all the necessary skills needed to carry out the tasks
of the project. All team members are responsible for their own duties as well as providing
input to help others on the team.

Communication: ​We will:

● Keep the project running smoothly by keeping track of all the tasks while informing our
group members what has been performed. Small group meetings will be held to ensure
that all members are on the same page

Problem Solving: ​We will:

● Gather all information and material needed to conduct a successful project. In the case of
any problems occurring throughout the project, our team will work diligently to resolve
problems that may occur.
 72

Meeting Guidelines: ​We will:

● Meet in person at least once a week to go over what each member is currently working
on. Review all parts of the project that are completed once a week virtually
(facetime/email/phone conference).
 73

DRAFT SCHEDULE:
 74

ROLES and MBTI TYPES:

● Blair-
○ Project manager
○ Tied for Democratic & Paternalistic Leadership Style - Paternalistic Cares about
employees. Should Excel in managing progress and updating schedules on
individuals' task completion
● Britney-
○ Tasks organizer
○ Autocratic. Also known as authoritarian. Involves strong organizational skills and
decision making ability. Good for big picture project tasks
● Joe-
○ Financial Manager
○ Lazie Faire- Less rigid. Able to operate without adhering to strict standards and
guidelines. Flexible and can adjust to problems on the fly as they arise.
● Abby-
○ Director of Research and Communications
○ Democratic Excels in communications and cares about people, adept at receiving
issues from employees and delegating tasks to necessary personnel.
 75

Progress Report 1 Presentation

76
 77

Progress Report 2
Date: ​November 7, 2019

Project Name: ​Egg Harbor Township Fixer Upper

Reporting Period: ​October 17, 2019- November 7, 2019

Work completed this reporting period:

● Development of requirements traceability matrix (constantly updating)

● Milestone list
● Gantt Chart for us to do the project and in relationship to time frame of fixer upper case
study and one for renovations
● Quality checklist
● RACI chart
● Probability/impact matrix

Work to complete next reporting period:

● Moving forward to complete Phase 4 (Bids, prioritized risks update, seven basic tools of
quality) and 5 (presentation of renovation, lessons learned report, final project report)

What’s going well and why:

● Everyone is working well together, constantly communicating and keeping up to date

with each other about aspects of the project

What’s not going well and why:

● Deadlines mostly being met (only a few days off but nothing major that is impacting the
progress of our project)

Suggestions/Issues:

● N/A

Project changes:

● N/A
 78

Scope Statement

Project Title: ​Egg Harbor Fixer Upper

Date: ​November 17, 2019​ Prepared by: ​Blair, Britney, Abby, Joe

Project Justification:

The reason for this project is to find a home that will be fixed up where we can live in the
area for a number of years while also helping our aunt in her vision to act more like a
bank than a landlord by financing the project and handling funds.

Product Characteristics and Requirements:

1. 3-4 bedrooms with at least 2 full baths

2. Up to $350,000 including $40,000 of renovations
3. Finding preferably two renters
4. Financial analysis

Product User Acceptance Criteria:

Finding an acceptable fixed up house

Summary of Project Deliverables

Project management-related deliverables: ​charter, scope statement, WBS, schedule,

cost estimate, final project presentation, final project report, lessons-learned report

Product-related deliverables:​ plan and oversee renovations of the house, finder renters,
bids of major expenses for financial analysis

Main House Renovations:

1. Tent the house (get rid of termites & other insects)
2. Rent a dumpster to get rid of junk in yard and house (old carpet, kitchen material)
3. Remodel the kitchen (new cabinets, appliances, sink, lights, counter tops)
4. Buy a new furnace, washer & dryer, sump pump and several, electrical outlets
5. Replace all windows
6. Put in laminate flooring throughout house (minus bathroom)
7. Paint entire inside of the house
8. Spruce up yard (removing old shrubs, planting flowers, repairing fence, leveling
& seeding lawn)
 79

Gantt Chart for Project

 80

Gantt Chart for Fixer Upper

** Complete Gantt Chart in Google Folder including December through April**

 81

Probability/Impact Matrix

Risk Task

1 Fail to find location

2 Fail to find house within

requirements

3 Fail to stay within budget

4 Fail to find roommates

5 Fail to tent house

6 Fail to rent dumpster

7 Fail to remodel kitchen

8 Fail to buy new appliances

9 Fail to fix windows, flooring, paint

house

10 Fail to clean yard

 82

3 most important describe strategy for managing them

How to strategically manage risks:

Risk 1- Do research early, narrow down locations, use house-hunting websites, know where you
want to live, canvas the area (visit the area for houses that may not be put online)

Risk 2- Do research early, go to open-houses, make a checklist and asses the must-haves

Risk 3- Do research early, consider financial trial run, figure which loan is right for you and get
pre-approved
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Summary of deliverables in the works under executing

● Setting up a meeting with construction project manager to get a quote on a cost estimate
for renovations and other financial expenses.
○ Once complete, expenses will be added to a final financial spreadsheet
● Preparing strategy for finding renters, developing a rental agreement and collecting and
making payments are in the works

Sample of Completed deliverables under executing

Detailed Gantt Charts for Renovations:

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Progress Report 2 Presentation

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Communications
Aunt Julie has some extra money and is looking for an opportunity to increase her
investments, and knows that many houses are priced to sell and mortgage rates are low to those
who qualify. We discussed with her how we would love to stay in the area for a long time and
live in a house but we cannot qualify for a loan ourselves. She agrees to go house-hunting with
us and willing to pay up to $350,000 for the right property including renovations and suggests
looking for a 3 to 4 bedroom house with at least 2 full bathrooms.
After closing on a property, your aunt give suggestions of what type of renovations
should be complete in the house and how she will come to help paint and clean up the yard but
tells you to reach out to other relatives and friends to help in the renovation efforts to cut some
costs. When it came time to find roommates,our aunt suggested to let our cousin Nick move in
with us until he decides what he would like to. As a final effort to show what we completed in a
short few months, we put together a presentation to discuss the project as a whole to her when
she comes to visit March 16 to 18. After seeing the house and potential roommate options, Aunt
Julie was very happy with the work we put in and can’t wait to see the future of her property!