Project Management and Knowledge Acquisition

The provided assignment content is a collection of academic articles, books, and online resources related to quality improvement, project management, and operations management. The topics covered include team-based approaches to quality improvement, the benefits of building information modeling (BIM), resource management, process integration, data quality management, innovation outcomes in project teams, and knowledge acquisition improvement. Additionally, there are illustrations provided on critical path method and Gantt chart. The content aims to provide insights into best practices and strategies for managing projects effectively.

BUSINESS AND LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Key characteristic of project...................................................................................................1
2. Scope statement of a project and role of work break down structure.....................................1
3. Gantt chart...............................................................................................................................2
4. Approach to generate budget..................................................................................................3
5. How project risk is arises? Outline various responses to risk which taken in project
management ...............................................................................................................................3
6. Quality methods to ensure successful project completion......................................................3
TASK 2............................................................................................................................................4
Outlining the activities require for the project............................................................................4
Skills and competences requires for project manager.................................................................7
Project management process.......................................................................................................7
Project life cycle stages...............................................................................................................8
Project processes and leadership.................................................................................................9
Administration and control problem associated with the management of life cycle of major
project........................................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES................................................................................................................................1
Illustration Index
Illustration 1: Gantt chart.................................................................................................................6
Illustration 2: Critical path method..................................................................................................6

INTRODUCTION
Business and law is fundamental aspect which describes various rules and regulations to
operate functions. It also provides legal regulations that are more complex in corporate world
which frames for understand business outcomes in successful manner (Kwon, Lee and Shin,
2014). In this context, present report is based on case scenario of ABC PLC. Which is food and
drinks retailer organisation in UK. The company is very well established but now they are
considers acquisition with DEF Ltd. which is high street frozen retailer. In order to focus on
present report, it covers characteristic and scope of project. Furthermore, it includes activities
which need to be implemented in growth of relocate the enterprise. Moreover, project ascertain
with covers life cycle stages, leadership and administration at workplace.
TASK 1
1. Key characteristic of project
Acquisition project is great opportunity for any business to enhance their performances
and effective results at workplace. It assists to accomplish desires changes with reduce failure. It
possesses following characteristic:
 Temporary: Main key characteristic of acquisition is it determines finite start and end
time to implement results. Start is time when project would be initiated and there
concepts are develops. On the other hand, finite end is time when objectives and goals
will be reached (Leal-Rodríguez, Roldán and Leal-Millán, 2014).
 Unique deliverable: Acquisition project has aim to create new things such as product,
services and another perspective results. In this aspect, deliverable need to be addressed
with problem before starting of project.
2. Scope statement of a project and role of work break down structure
Acquisition project is determines planning which involves documenting of list of goals,
deliverable, features, task, features and functions, etc. It assists to accomplish work which need
to be done that delivers effective results. Hence, main scope statement of project is complete task
with function, features, etc. Work breakdown structure is the key element which delivers for
attain effective teamwork in manageable section (Kwon, Lee and Shin, 2014). Hence, main role
of WBS is delivers hierarchical decomposition of work that must be executed within team.
3

3. Gantt chart
Task
Mode Task Name Duration Start Finish Predecessors
Manually
Scheduled 1 5 days Mon
10/12/09 Fri 10/16/09
Manually
Scheduled 2 4 days Mon
10/19/09 Thu 10/22/09 1
Manually
Scheduled 3 2 days Fri 10/23/09 Mon
10/26/09 2
Manually
Scheduled 4 3 days Fri 10/23/09 Tue 10/27/09 2
Manually
Scheduled 5 5 days Tue 10/27/09 Mon 11/2/09 3
Manually
Scheduled 6 7 days Wed
10/28/09 Thu 11/5/09 4

The critical path path of the project covers different activities = 5+4+3+5=17 days
4. Approach to generate budget
There are various techniques exist that assist to generate budget with developing activity
estimation and related with cost. In respect to enhance project budget, estimation is depends on
specific information that are available with work done in effective manner (Kwon, Lee and Shin,
2014). Different techniques are as follows:
Top-down: With the help of actual work and estimation of cost, similar and identical
parts of previous project has been achieves. In this way, historical experience can be allocate in
previous project and financial report, project schedule, personal logs, etc.
Result of thumb: This is determines as historical experience which reduce data that
simplifies metrics in effective manner. Time for UL safety testing design is implementing within
3 weeks of regression test.
Expert judgement: In this way, budget is generates through bring specialize work that
need to be done in effective way. Expert advice assist to create other department of the
enterprise, outside consultant and third party development (Leal-Rodríguez, Roldán and Leal-
Millán, 2014).
5. How project risk is arises? Outline various responses to risk which taken in project
management
Risk is an element which potentially impact on timeline, performance or budget of
acquisition project. It is arises due to addressing issues within the project of company. There are
various factors which creates risk in project such as fund, strategies and other aspects. In order to
solve issues in project, various responses need to be taken at workplace. They are as follows:

 Risk is need to be exploit that figures to increasing likelihood of risk occurrence.
 With sharing risk in acquisition project, opportunity can be enhance which make positive
results and outcomes (Bryde, Broquetas and Volm, 2013).
 Creating specific assessment in project for develops results.
6. Quality methods to ensure successful project completion
In respect to make successful project, following methods are used in assessment of
quality: Project evaluation: Project evaluation is systematic and effective element which assess
ongoing of complete project. Main aim of project evaluation is determines relevancy and level of
achievement in project objectives, effectiveness and sustainability, etc.
Monitoring: Project monitoring is focuses on program inputs, activities and outputs. In this
aspect, manager of the company look towards output that creates effective results and impact on
programme aim (Slack, Chambers and Johnston, 2010).
Project control: Project control includes gathering of data, management and analysis the
process that is used to understand and constructively outcomes which influence time and cost
results. It assesses the results through making effective communication in project to make
decisions (Letellier and Eppich, 2015).
TASK 2
Outlining the activities require for the project
The project management is considered as the most important task under which
management of the business need to shed light on some important aspect. It would be effective to
consider the importance of the project and accordingly ensure the all important activities of the
project. Being project manager of the acquisition plan, John will plan for the following activities
related to the acquisition project. The below mentioned table is showing that first of all John will
conduct the requirement analysis with regard to acquisition project and will find out the potential
aspects associated with the same. It proves to be effective in deciding the most effective aspect.
Furthermore, in the second step data will be collected related to resources of DEF Ltd and cost
structure of the corporation (Fitsimmons, 2009). These data are important to analyse whether
firm has qualified or skilled resources to generate further profit or not. At the completion of this
activity, procurement plan will be prepared under which cost of 150 GBP will be needed so as to
make the entire plan related to production of future business activities. Apart from this,

summarize form of the entire information will be presented under the database section. This
requires extensive time as all department will be assessed in order to implement the project in a
successful manner.
Sr. No. Activities Cost (GBP) Time Precedence
1 Requirement
analysis
50 15 -
2 Collecting the
data
50 20 1
3 Procurement plan 150 15 1
4 Preparing the
database
100 25 1,2,3
5 Marketplace
assessment
150 30 4
6 Technological
assessment
200 10 1
7 Selecting the right
contract
300 5 5,6
8 Starting the
process
200 10 7
9 Implementing the
plan
600 30 1,5
10 Execution 200 5 8,9
Total 2000 165
At the completion of database project manager will decide regarding the marketplace
assessment and technological assessment. In this manner, all activities associated with the project
is determined along with time and resources needed. It proves to be effective to determine the
certainty and assist other workforce associated with project effectively. In this manner, total cost

needed for the project is 2000 GBP whereas time slot for the will be 165. It indicates the overall
project is taking extensive time (Anh and Matsui, 2011). However, the issue related to the time
can be solved by using effective techniques of project management. It would be effective meet
the expectations of all related stakeholders and determine the well being of project in the right
direction.
The below mentioned graph is showing that gantt chart representing the activities covered
for the project. It is listing or presenting all the activities along with its starting and end time. In
this manner, summarize form of project is presented with the help of Gantt chart.
Illustration 1: Gantt chart

According to the above mentioned image, it has been found that activities covered under
critical path are 1+2+4+5+9+10=125. The critical path shows the longest path covered under the
project so as to complete all related activities together for accomplishing the set aim and
objectives. However, the longest path tends to save overall time and cost both through which
project can be started in relatively short time. This in turn project manager allocate the task and
resources accordingly. However, it might be possible that cost increases for the purpose of
saving the time.
Therefore, activities of the project are presented in the above mentioned table along with
time and cost both.
Skills and competences requires for project manager
In order to achieve positive results and outcomes in acquisition of ABC by DEF, project
manager of DEF Ltd. requires following skills and competences in acquisition project:
 Leadership: Project leadership is effective skills and competence that requires build
effective team. It is important aspect to inspire various people and set vision in efficient
manner. In this way, DEF Ltd. can give direction to subordinates for accomplish results.
 Negotiation: It is very important for every person to do best all times. However, project
is not work as effectively. With the help of good negotiation skills, team is develops that
seek to resolve conflicts (Leal-Rodríguez, Roldán and Leal-Millán, 2014). Hence, in the
chosen business project manager support to their team members in effective manner.
Illustration 2: Critical path method

 Cost control: In respect to make budget, project manager need to arrange all activities in
systematic way. It will assist to create profitability and proper understanding of cost
management. Without this skill, manager is unable to make proper finance results. With
this aspect, project manager can control cost that require for arrange various activities in
systematic way (Harrin, 2015).
 Risk management: This element is signified for assess risk in project management.
Through finding unique projects, outsources can be given to functional manager that
shows aptitude for getting more. In this aspect, project manager can work with more
complex, informativeness and unique characteristic (Barber, Schultz and Martin, 2015).
Project management process
Project management process is working with discipline of initiating, planning, executing
and closing to the work of team that assist to accomplish goals and specific criteria. It includes
following steps:
Project conception and initiation
In this step, idea for acquisition project careful examines that demonstrate benefits
through different activities. In the cited firm, there are activities related to tasks that proves
eligibility and ability to complete project (Kwon, Lee and Shin, 2014).
Project definition and planning
Project planning is another important aspect in project management process. In this
aspect, team is getting direction in DEF Ltd. by John to perform specific tasks. In this way, team
is prioritize the project which assist to calculate budget and making schedule with resources.
Project launch or execution
In this step of project management, resources and tasks are distributed in a team with
effective responsibility by John. It is very good to bring important information that are related to
each task at chosen firm (Hurtado Albir, 2015).
Project performance and control
In this step, John need to compare status of project and actual performances at workplace.
Hence, he need to concentrate on schedule work according to the requirement. As per the
schedule, necessary information must be track on DEF Ltd.
Project close

After completion of project task, John need to approved outcomes with evaluation that
assist to highlight successful project.
Project life cycle stages
In project life cycle stages, four phases are included such as initiation, planning,
execution and closure (Vásquez-Bravo, Sánchez-Segura and Amescua, 2014). Each project life
cycle includes task that are needed to carry various activities by John:
Initiation: In this step of project management life cycle, John need to develop business
case with taking feasibility study. Through establishes project charter and appoint project team,
DEF Ltd. can perform effective function. For example, acquisition of ABC with develop
operations.
Planning: After initiation, John need to carry project plan, resource plan, quality plan,
risk plan and many more aspects in effective manner. With the help of planning, they can also
make contract with suppliers that tends to assess issue in work. For example, in acquisition of
ABC John need to plan which type of products carry for further operations (Letouze, Caetano
and Brito, 2013).
Execution: In this step, John need to perform functions with time management, cost
management, quality management, change management and risk management, etc. In this way,
he can control the project that develops effective results at workplace. For instance, John
determines cost on business activities with assess risk and set budget for future expansion. In
addition to this, identify expenses which occur before purchasing of raw-material at workplace.
Closure: In this aspect, in DEF Ltd. closure made through perform project closure and
review completion which assist to make effective results at workplace. For example,
Measurement of benefits and objectives of this project in future expansion (Han, Lee and Kim,
2017).
Project processes and leadership
There are several processes of project management such as phase management, planning,
control. Along with that, communication, procurement and integration as well as team
management are also included. According to the case scenario, ABC Ltd is planning to acquire
DEF Ltd where it is important to discuss regarding planning and control. For example, overall
planning will done by the management of the project and then same will be communicated to
project management. This ways project management decide every activities along with time and

cost require for each (Berger, 2011). Apart from this, team management will be done by the
project manager. For this purpose, he will acquire internal human resources for the sake of
saving the cost. However, mode of communication will be formal meeting. For example, social
media or mail communication will also be there for better coordination.
Furthermore, project manager will provide off-the-job and on-the-job training for
workforce so they can understand related to process of project completion and work in the same
direction. On a critical note, it is likely to have conflict among the team members, owing to this
project manager ensure to address the issues on right time and determine better integration
among them. Apart from this, communication is maintained as it is the most important aspect for
the success of the project (Mahadevan, 2010). However, without better communication, team
management is not possible as workforce get highly affected from the same. Moreover,
leadership skills must be appropriate and project manager must have idea regarding the proper
use of autocratic or democratic style. For example, at the beginning of the project, manager
might be rude to make the workforce more attentive towards the allotted work however later he
will become more flexible for higher level of satisfaction among workforce and deriving the
valid outcome by their optimum utilization.
Administration and control problem associated with the management of life cycle of major
project
The life cycle of project consists of several steps through which an organization has to
go. According to the given case scenario, DEF Ltd is being acquired by ABC Ltd where the
acquisition procedure seems quite long. For this purpose, appropriate administrative activities
and control aspects must be considered. In this regard, project management will handle such kind
of task with the close supervision of the project progress. He is the only one who ensure to
update the changes in the project on right so as to determine its success for longer time span.
However, workforce will be added in the decision making process for their higher level of
motivation and greater level of contribution in the success of the project (Slack, Chambers and
Johnston, 2010).
In addition to this, monitoring of project can be done by using the appropriate skills like
performance appraisal. For example, 360 degree performance appraisal technique can be used in
which management assess that whether a workforce is performing better or not. In case he or she
does not perform in a better manner then they will plan to provide them training. Furthermore,

administrative activities ensure that budget do not exceed from the set limit and time period of
the project do not stretch from the set one. Furthermore, management should interact with
workforce on daily basis so as to get or incorporate their ideas into the decision making
procedure. This would be effective for the corporation to ensure the long run success. Apart from
this, control problem can be resolved by assigned more supervisor in the team (Mergers &
Acquisitions, 2017). It contributes towards the success of the project and work upon every single
issue associated with the project. This ways acquisition project can be completed on time as well
as in the set budget span. However, control is needed at the initial step of the project life cycle to
the end step. It is because if the project will be not be handled from the very beginning then
management has to suffer from the loss of the time as well as cost. Owing to this, it is very
important to shed light on every single step and ensure better control from the top the bottom of
the project. It is the biggest reason that skilled and competent personnel will be hired who
possess enough knowledge related to the field and motivate others to work in a better manner.
CONCLUSION
The aforementioned report concludes that project management is the important aspect
which contain several aspects or activities so as to ensure completion of the same on time.
However, success criteria must be communicated to the members along with the vision or aim of
the project. This would be effective to utilize the limited resources in an effectual manner and
ensure competitive edge of the business by implementing the project. It can also be concluded
that team management, communication and conflict management must be done in the right
manner so that workforce can provide their better contribution. Moreover, critical path method is
more suitable and effective for reducing the time taken for the completion of the project.

REFERENCES
Journals and books
Anh, C. P. and Matsui, Y., 2011. Relationship between quality management information and
operational performance: International perspective. Management Research Review. 34(5).
pp.519 – 540.
Barber, K. H., Schultz, K. and Martin, D., 2015. Teaching quality improvement in graduate
medical education: an experiential and team-based approach to the acquisition of quality
improvement competencies. Academic Medicine. 90(10). p.1363.
Berger, A., 2011. Operations Management. GRIN Verlag.
Bryde, D., Broquetas, M. and Volm, J. M., 2013. The project benefits of building information
modelling (BIM). International journal of project management. 31(7). pp.971-980.
Fitsimmons, G., 2009. Resource management: materials, equipment, facilities. Bottom Line:
Managing Library Finances. 22(3). pp.86 -88.
Han, J., Lee, S. H. and Kim, J. K., 2017. Erratum to: A process integrated engineering knowledge
acquisition and management model for a project based manufacturing. International
Journal of Precision Engineering and Manufacturing. 18(3). pp.467-467.
Hurtado Albir, A., 2015. The Acquisition of Translation Competence. Competences, Tasks, and
Assessment in Translator Training. Meta: Journal des traducteursMeta:/Translators’
Journal. 60(2). pp.256-280.
Kwon, O., Lee, N. and Shin, B., 2014. Data quality management, data usage experience and
acquisition intention of big data analytics. International Journal of Information
Management. 34(3). pp.387-394.
Leal-Rodríguez, A. L., Roldán, J. L. and Leal-Millán, A., 2014. From potential absorptive
capacity to innovation outcomes in project teams: The conditional mediating role of the
realized absorptive capacity in a relational learning context. International Journal of
Project Management. 32(6). pp.894-907.
Letellier, R. and Eppich, R. eds., 2015. Recording, documentation and information management
for the conservation of heritage places. Routledge.

Letouze, P., Caetano, M. G. and Brito, G., 2013. Evolving Interdisciplinary Research with
Model-View-Controller Evolutionary Acquisition Interdisciplinary Research Project
Management. Advanced Science Letters. 19(8). pp.2170-2173.
Mahadevan, B., 2010. Operations Management: Theory and Practice. Pearson Education India.
Slack, N., Chambers, S. and Johnston, R., 2010. Operations Management. 6th ed. Harlow :
Financial Times Prentice Hall.
Vásquez-Bravo, D. M., Sánchez-Segura, M. I. and Amescua, A., 2014. Knowledge management
acquisition improvement by using software engineering elicitation techniques. Computers
in Human Behavior. 30. pp.721-730.
Online
Harrin, E., 2015. 15 Top Skills Project Managers Need. [Online] Available through:
<http://www.esi-intl.co.uk/blogs/pmoperspectives/index.php/15-skills-project-managers-
will-need-2015/>. [Accessed on 2nd June 2017].
Mergers & Acquisitions. 2017. [Online]. Available
through:<http://www.ipmcinc.com/services/mergers-acquisitions>. [Accessed on 2nd June
2017].