Reflective essay on project management (Assignment 3)

Running head: MANAGEMENT
Reflective essay on project management (Assignment 3)
Name of the student:
Name of the University:
Author note:

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MANAGEMENT
Introduction
Project management is one of the skills, which enhances the leadership abilities and
competencies of the individuals. As a matter of fact, managing a project upgrades the
standards and quality of approaching the allocated duties and responsibilities. Undertaking
projects helps the individuals in gaining new experiences, which broadens the horizons of
their thoughts and knowledge (Geithner & Menzel, 2016, p.230). This is due to the
consideration of radical transformations in the concepts related to project management. In the
present era of competition, project management is of utmost importance for luring the
customers. This essay develops a reflective paper on the renovation project of old beachside
cottage.
Description of the situation
I was a part of renovation project of old beachside cottage, which was estimated to be
completed in a period of 2 weeks. The estimated budget was $20000 approximately. The
Work Breakdown Structure for the project reflected equal distribution of the tasks and dittoes
to the team members (refer to appendix 1). Variety in the responsibilities exposed me to
different aspects, which are crucial for effective handling of the projects. The responsibilities,
which we were assigned, were measured through the means of Responsibility Assessment
Matrix (RAM). Affirming with the arguments of Fleming and Koppelman (2016, p.23), I can
say that this matrix perceives the roles and responsibilities of the stakeholders according to
the elements of accountability, group work and knowledge management (refer to Appendix
2).
I felt that planning was vital for systematizing the activities of the renovation project
of old beachside cottage. This was conducted in the form of a Gantt chart, enhancing the
awareness about the time limits, within which the tasks needs to be completed (refer to

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MANAGEMENT
Appendix 3). Nodal representation of scheduled activities reflects the consideration of
advanced technologies for scheduling the activities (refer to Appendix 4).
Resource overloads was one of an integral issue, which contradicted the teamwork,
which is needed for efficient execution of the project related activities. Decision was made
for borrowing the money from the bank. I think this decision is apt for removing the financial
inadequacies (refer to appendix 5). According to me, progress report was necessary for
measurinbg the extent to which the targets have been fulfilled. In this, I can cite the example
of Timelines, for which drafts were sent to the supervisors for guidance and support for future
courses of action.
Linking experience to the theories
I think that the project went through an integrated process of initiating, planning,
executing, monitoring and control followed by closing.
Fig: Steps in project management
(Source: Burtonshaw-Gunn 2017, p.34)
Initiating
Choosing the
topic
Developing
aims and
objectives
Planning
Team selection
Resource
allocation
Budget
Executing
Performing the
tasks according to
the plan
Monitoring
and
controlling
Assessement
matrix
Checklists,
templates,
timelines
Closing

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MANAGEMENT
Maintaining the balance in these steps was essential for yielding positive outcomes. I
felt that involving the stakeholders in the planning process seemed beneficial in developing
criteria and indicators for measuring and controlling the performance. This measurement
proved beneficial in terms of mapping the change, which we can bring to the old beachside
cottage through the renovation. Within this, considering the opinions of Chronéer and
Backlund, (2015, p.65), I can also mention about the risk management theory, which
enhanced my awareness about the potential risks, which stalls the productive performance
towards managing the renovation work. Valuation of the risk was crucial for me in terms of
gaining relevant solutions.
Fig: Risk measurement framework for project management
(Source: Galli, 2017, p.56)
Self-engagement
I was a student, involved in the renovation project of old beachside cottage. I exposed
my valuable contribution to the project through assisting in the decision-making process,Risk
portfolio
Risk
portfolioDecomposi
ng
Decomposi
ngValuation
ValuationRisk
measurem
ent
Risk
measurem
entRisk
manageme
nt strategy
Risk
manageme
nt strategy