Project Management Assessment Brief

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Business Finance

Description

LEARNING OUTCOMES ASSESSED

Upon the completion of this module assessment, students will need to demonstrate:

Knowledge

K1. That they can appreciate the requirements for management control and the application of project control processes

K2. A critical understanding of the relationship between, cost and quality in achieving project objectives

Skills

S1. Skills relating to critical thinking and analysis of managing projects by using software tools

S2. Their ability to apply and evaluate tools and techniques associated with the management of Projects

S3. Their capability to evaluate projects from a financial, human resource and time related perspective

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Part A Executive summary / Abstract Table of Contents Executive summary 1. Introduction (100 words) 2. Overview of PLC : overview and purpose of each phase in the life cycle. What is life cycle. (do not more than 500 words) 3. Relevance of PLC : importance of each phase. As it is relevant to the project selected for your case study. ( 200 words) 4. Comparison of project methodologies : similar and different ( 200 words) 5. Choice of Documentation –PLC ( 200 words) 6. Success factor (CSF’s) : Research evidence on how., for similar projects. Requirements in specific phase have affected. (100 words) 7. Conclusions (100 words) Part B (2200 words) Executive summary / Abstract Table of Contents Executive summary 1. Introduction (100 words) 1.1 Project Background 2. WBS : for your project. What is WBS. (Find out what the arguments are for your project , prove that your project has WBS) 3. Gantt Chart: Use Microsoft project –activity list. 4. 5. 6. 7. 8. 9. 10. CPM and PERT (PERT: network disgram) Assess CPM Importance. (Talk about why it is important to you) Benefits of Gantt chart. (Combine your own projects, what benefits does it bring to you?) Team pitfalls Risk management/ Stockholder management. (Need argument) Conclusions (Views and advantages and disadvantages) Recommendation
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Explanation & Answer

Attached.

Running head: PROJECT MANAGEMENT ASSESSMENT

Part A: Project Management Assessment Brief
Name
Instructor
Course
Date

1

PROJECT MANAGEMENT ASSESSMENT

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Executive summary / Abstract
Industrial automations are the applications of robots and computers in controlling
industrial processes such as production without great intervention of human.
Automations can improve and enhance accuracy, safety, and quality of the processes
when used correctly. It is the responsibility and duty of the individuals in the industrial
automation to monitor processes, design systems, and configure the controllers. The
project team and the project manager have a single shared goal: to perform the works of
the projects with the aim of achieving the objectives of the project. All the projects have
beginnings, middle periods during which tasks move the projects towards completions,
and conclusions, either unsuccessful or successful.

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Table of Contents
Executive summary / Abstract ....................................................................................... 2
Introduction .................................................................................................................... 4
Overview of Project Life Cycle ..................................................................................... 4
Purpose of Each Phase in the Life Cycle ....................................................................... 5
The Relevance of Project Life Cycle ............................................................................. 7
Comparison of Project Methodologies .......................................................................... 8
Choice of Documentation in Project Life Cycle ............................................................ 9
Success factor (CSF’s) ................................................................................................. 10
Conclusions .................................................................................................................. 11

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Introduction
The life cycle of a project comprises of four stages that includes: initiation,
planning, implementation/execution (that includes monitoring) and completion
(including evaluation and controlling). The initiation stage starts by defining structure,
timescales, deliverables, resources, objectives, purpose, and scope of the project.
Developing a business case is the next step that includes various potential results as
well as cost/benefit analyses for all solutions. A feasibility research needs to be
conducted in ensuring that the selected solutions are reasonable and have acceptable
risk level. Defining reference terms is the next step. It is followed by the project team
appointment. The last stage is conduct phase review before getting approvals to
continue. The initial step of the planning phase is the detailed project plan creation that
the project managers shall use and refer throughout the project in monitoring and
controlling quality, time, and cost.

Overview of Project Life Cycle
The project life cycle can be defined as the process of 4-steps that are followed by
almost each project manager when moving through project completion stages
(Grimshaw et al. 2004). It offers a structure to manage any kind of project within a
business. Following a project life cycle has been found to be vital for any service
company. The life cycle of a project is the standard by which a team accomplishes the
success of project. Professional services require a special life cycle of project which
involves a recurring feedback loops in ensuring success of project because of regular

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involvement of customers (Harvey & Kitson, 2016). The project phases involved: the
conceptualization phase, the planning phase, the implementation (execution) phase,
and the termination phase.

Purpose of Each Phase in the Life Cycle
Conceptualization or Initiation Phase
The project needs or goals are identified in the initiation stage which is the first step
in the project life cycle. It can be a business opportunity or problem (Grimshaw et al.
2004). Relevant responses to the goals or needs are documented in a case of business
with recommend options or alternatives of solutions. A feasibility research is carried
out to explore whether each alternative tackles goal of the project, before a final
recommended solutions are established. Feasibility issues and justifications are handled.

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A project manager is appointed and a project is initiated to deliver the approved
solutions once the recommended solutions are approved (Harvey & Kitson, 2016). The
participating work teams and major deliverables are determined, and the team of the
project starts to take shape.
Planning Phase
The planning phase which is the next phase is where the solutions of the project are
further created in as much comprehensive as possible (Lau et al. 2015). The steps
essential to achieve the goal of the project are planned. The team determines all of the
work to be carried in the planning phase. The requirements of task and resources of the
project are determined, together with the strategies for generating them and this is
known as “management of scope”. A project plan is developed that outlines the
timeframes, dependencies, tasks, and activities. The project managers coordinate the
project budget preparation by offering cost estimates for material, labor, and equipment
costs (Leeman et al. 2017). During project implementation, the budget is utilized in
monitoring and controlling cost expenditures.
Implementation (Execution) Phase
During the implementation phase, which is the third phase, the project plan is
executed and the works of projects are carried out (Lau et al. 2015). It is significant to
communicate and maintain control as required during execution. Progresses are
continually monitored and relevant modifications are carried out and documented as
differences from the initial plan. Project managers in any project spend most of the time
in the implementation phase. Workers carry out the tasks during project execution.

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Progress details are reported through frequent meetings of the team (Grimshaw et al.
2004). The project manager use these information in maintaining control over the
project direction by comparing the reports of progress with the plan of the project to
measure the project activities performance and undertake corrective actions as
required.
Closing/Completion Phase
During completion phase or final closure, the focus is on delivering the ultimate
solutions to the clients, releasing the resources of the project, terminating vendor
contracts, handing over documentation of the project to the business, and
communicating the project closure to all stakeholders.

The Relevance of Project Life Cycle
The project life cycle model importance depends on the fact well outlined strategy
is often needed for handling any specific problem (Harvey & Kitson, 2016). As such is
the case with the projects. No doubts, there are often uncertainties and complexities
involved which cannot b...


Anonymous
Just what I was looking for! Super helpful.

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