Project Management Methodologies and Plan for Sharp Suit's Project

This report critically evaluates the appropriateness and limitations of various project management methodologies, with a specific focus on their application to a business scenario. The report begins by defining project management and its significance in achieving objectives, particularly for a small firm, Sharp Suit, aiming to enhance its online presence, market exposure, and profitability. It then delves into the evaluation of methodologies such as the Waterfall and PRINCE2 models, highlighting their respective strengths and weaknesses. The analysis concludes that the PRINCE2 model is most suitable for Sharp Suit's project due to its structured approach, particularly given the substantial investment involved. Furthermore, the report outlines a detailed project management plan for Sharp Suit, incorporating the PRINCE2 model's stages, including project initiation, planning, execution, and closure. It also addresses potential project risks, such as cost, schedule, and technological risks, and proposes mitigation strategies. The project involves creating an online platform to showcase suit designs, streamline customer interactions, and boost sales. Finally, the report includes a financial chart detailing the project's estimated costs.

Appropriateness and limitations
of the main project management
Methodologies and Project
Management Plan Creation
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CONTENTS
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Critically evaluate the appropriateness and limitation of main project management
methodologies?............................................................................................................................3
Project management plan for improving the exposure, marketing and profit.............................4
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9
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INTRODUCTION
Project management is consider to be a process consist of set of activities which are
executed in a systematically manner to accomplish a desired objective (Alias and et. al., 2014).
The project management remains a necessity for ensuring that a project get accomplished in right
manner by ensuring execution of activities and arranging resources in rightful manner. the
current report is about the Sharp suit which is a small firm that offer tailored suits and now want
to execute a project for enhancing its profitability and market exposure by improving online
presence. This report involves the appropriateness and limitation of project management
methodologies. Additionally, it also discuss about the project management plan.
MAIN BODY
Critically evaluate the appropriateness and limitation of main project management
methodologies?
The project management is defined as the way or process that is adopted by an individual in
order to lead the work performed by the team members in order to achieve the desire goal of
project and meeting up the set criteria within a stipulated time period. A project went through so
many of challenges which make the execution of project most difficult. The major challenge
remains in front of project manager to achieve the goal of project and completing it on timely
manner along with dealing with the constraints found while executing its activities (Burke and
Barron, 2014). Therefore, to attain this effectively the project manager makes use of certain
methodologies of project management which direct them to perform actions in systematic
manner so that each action get executed effectively. The current project is about the Sharp suit
which want to increase its exposure to market so that better success can be achieve. Some of the
common methodologies that can be used by Sharp suit to achieve its goal are mentioned below
along with their appropriateness and limitations,
Waterfall model: -
It is a project management approach or methodology where a project is divided into several
different stages to get completed and move step by step for getting ultimately release to
consumers (Lock, 2016). In this the project manager of Sharp suit can create a big project plan
and then divide into several stages which in turn allow a systematic procedure of completing the
project and also provide a chance iterate the process to get desired outcome by accepting changes
for betterment of project.
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Appropriateness: The waterfall methodology divides the project in several stages and before
moving to a next stage previous stage is required to be completed. Hence this make it easier to
measure the progress of project by cross verifying it with Gantt chart.
Limitation: Once activities get finished within the waterfall methodology, it is very difficult
and expensive to go back and mark the changes which required Sharp suits to put huge pressure
over planning stage.
PRINCE model:
PRINCE 2 or project in controlled environment is consider as the structured project
management method which put emphasis toward dividing the whole project within more
manageable and controlled stages (Marcelino-Sádaba and et. al., 2014). It helps project manager
in managing the activities of project in more effective manner to achieve the goals in more
appropriate manner. Following are certain limitation and appropriateness of PRINCE 2 model,
Appropriateness: The main benefit of adopting this model is to ensure that all the task
and practices remains under the control of manager which in turn reduce the negative
consequences and provide smooth running of project. Additionally, also support in predicting the
potential risk in advance and take action in accordance.
Limitation: As the PEINCE 2 Model concentrate about several section of project such as
plan, risk control, organisation of task etc. it needed huge finance and resources for evaluation
and executing the project on timely manner.
From the critical evaluation of above-mentioned project management methodologies, it
can be said that PRINCE2 model mis most beneficial methodology for creating an online
presence of Sharp suit to enhance its market exposure. This is so because this project involves
the large investment for this project i.e. of 50K pound which make it crucial for executing this
project with due care so that each thing goes right as per plan (Turner, 2017). In this regard the
PRINCE 2 Model remain very much helpful as it supports in formulating the better action plan
which contribute toward avoiding and dealing with the potential risk for ensuring that the
objective get achieved.
Project management plan for improving the exposure, marketing and profit
As per the above-mentioned business scenario the Sharp Suit assigned this project to ensure
that their market reach or exposure can be maximise with the help of using an online platform
which bring more customers and profit. This is so because the Sharp suit is having limited
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customer base and those, they get through customer referrals only. So, the plan is created to
develop an online web page of the company where the suit ion different design are well
organised and arranged (Meredith, Shafer and Mantel Jr, 2017). So that it become easier for the
customers who do not have time or due to COVID find it harder to visit its store can easily get
access to design offered by Sharp suit.
In order to execute this plan effective, the PRINCE 2 model has bene used by the project
managers, which include following stages as explained below:
Starting up the project: - Under this stage the briefing about the project plan is done so that
the viability of project can be determined. Once it is confirmed, it gets approved by the owner of
Sharp suit. The plan is to create a webpage for simplify and maximise the customer reach by
providing them more customised services. Its web page contains the presentation of designs in
well-structured manner where they can visit and select the appropriate design which they like
and can provide their measurement for getting their suit tailored as a perfect fit and get delivered
(Kerzner, 2017). Other than this the customers who want different design in their suit can edit
and create their own design sample using the features available on website to get more
customised suit of their choice. This web page will be promoted over social media sites and
through mailing list procedure which in turn help in getting more attention and spreading
awareness about the suit designs offered by Sharp suit.
Initiation of project: During process several questions must be addressed like activities to
be performed, reason behind conducting project along with risk involve and benefit, how risk
will be addressed. The project manager of Sharp suit will present all this detail by creating an
initiation document which support in guiding the actions throughout project in right direction.
Direct the project: Under this stage the project manager of Sharp suit will perform activities
like authorising the project initiation which includes risk and benefit of the project from the
management or owner of Sharp suit (Kivilä, Martinsuo and Vuorinen, 2017). After that other
stages of the project are being finalised in order to complete the whole project as per the
objectives decided while planning stage. After all this the project get executed.
Control stage: Under this stage the project manager will assign all the task and activities that
are design in above stage to the team member as per their capability and skills and monitor each
and every action to ensure that each activity get executed as per plan, such as development of
web page, its design, its presentation, uploading of suit designs etc. Under this stage the project
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manager have a regular meeting with the team mates in morning before execution of project and
take review for all the actions performed previous day, error rectified and work procedure of
current day (Demirkesen and Ozorhon, 2017). This help in ensuring that all the errors and issues
get rectified on timely manner so that chances of incurring additional cost can be avoided and be
able to deliver most satisfactory project to the Sharp suit so that they would be able to improve
their market exposure and profitability.
Manage product delivery: This stage involves the managing of delivery of project after
controlling the work among the project manager and its team. Under this several activities are
involved such as accepting the work package, execution of work and delivering of work package
to the Sharp suit to ensures that it get completed in rightful manner and desired way. Here the
product is delivered as a protocol to get an idea that whether the project is running on right track
and as per the requirement of client.
Manage stage boundary: This stage is executed within two parts, in this the project
manager provide the Sharp suit owner and other authority of firm about the overall performance
and update of project plan and present the next action for the project. In second part the
information provided by the project manager support the project board to get review about the
current position of project so that it gets approved and can be able to review the updated plan so
that proper actions can be undertaken to further expand the process of project.
Close the project: This is the last stage of project where it is assured that the project
achieved the goals for which it is being initiated. Under this stage the project manager of Sharp
suit will handed over the product such as web page of sharp suit to its owner for starting up the
online sae of its suit designs (Papke-Shields and Boyer-Wright, 2017). On the regular interval the
project manager will evaluate the exposure frequency pf customers and number of visits to
determine whether it is as per expected or needed some additional changes. If every thing runs
smoothly then this project get closed and after that the website will be handle by the person who
is assigned with its responsibility.
Potential risk
A project never come alone with perfection as other project involves risk, this website
establishment project also contains certain potential risk. These are mentioned below:
Risk type Impact
Cost risk This risk is usually associated with increase in cost or expenses of
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project which is occur due to inappropriate assumption of budget or
any damage occur while project execution. This risk can be
experienced by Sharp suit while creating website as it needed high
tech systems. For mitigating this risk must keep certain cash reserve
for using it in contingency.
Schedule risk This risk may confront by project manager of Sharp suit when some
activity takes more time to get executed or completed as it is decided
in advance. This may result into delay of other activities that can
increase cost and time of whole project (Papke-Shields and Boyer-
Wright, 2017). To mitigate this kind of risk manager must have an eye
or take regular reporting about the activities going so that in any
requirement other activities can be managed with time to give other
task more time.
Technological risk This risk is associated with the technological failure that can be
identified at the time of developing or designing website which may
prohibit the program to move further. To deal with this issue project
team must provide be provided worth appropriate training so that they
can deal with issue on timely manner.
Financial chart
Attributes Amount (in £)
Arranging resources like computer, internet
connection other devices etc. for web design
and development
2000
Hiring web developer 20000
Prototype 5000
Google promotion 10000
Compensation to employees 13000
Total 50000
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CONCLUSION
From the above-mentioned information, it can be summarised that project management is
consider to be an effective process which allows to execute a project in more systematic manner
while considering all the risk and directing the efforts toward the accomplishment of project. The
best approach for project management consider as PRINCE as it provides more control over
resources and excel at managing risk. So, it helps in executing each and every activity in
systematic manner by maintain strong control over activities and associated resources.
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REFERENCES
Books & Journals
Alias, Z. and et. al., 2014. Determining critical success factors of project management practice:
A conceptual framework. Procedia-Social and Behavioral Sciences. 153. pp.61-69.
Burke, R. and Barron, S., 2014. Project management leadership: building creative teams. John
Wiley & Sons.
Demirkesen, S. and Ozorhon, B., 2017. Impact of integration management on construction
project management performance. International Journal of Project Management, 35(8),
pp.1639-1654.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kivilä, J., Martinsuo, M. and Vuorinen, L., 2017. Sustainable project management through
project control in infrastructure projects. International Journal of Project
Management, 35(6), pp.1167-1183.
Lock, D., 2016. Project management in construction. Routledge.
Marcelino-Sádaba, S. and et. al., 2014. Project risk management methodology for small firms.
International journal of project management. 32(2). pp.327-340.
Meredith, J.R., Shafer, S.M. and Mantel Jr, S.J., 2017. Project Management: A Strategic
Managerial Approach. John Wiley & Sons.
Papke-Shields, K.E. and Boyer-Wright, K.M., 2017. Strategic planning characteristics applied to
project management. International Journal of Project Management, 35(2), pp.169-179.
Turner, J. R., 2017. Contracting for project management. Routledge.
Online
PRINCE2 Methodology. 2018. [Online] Available through<https://www.prince2.com/uk/prince2-
methodology>./
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