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A Business Law Perspective on Projects

   

Added on  2020-10-22

13 Pages3957 Words103 Views
Business Law

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Define the key characteristics of any project?........................................................................12. What is the Scope Statement for a project? What role does the Work Breakdown Structure(WBS) have in such a statement?................................................................................................13. Using the information below, plot out a full project Gantt chart and identify the criticalpath. How many days does it take to complete the project?.......................................................24. What approaches exist to generate a budget for a specific project budget?............................25. How can project risk arise? Outline the various responses to risk that may be taken withinproject management....................................................................................................................26. What quality methods would you introduce to ensure a project is completed successfully?.3TASK 2............................................................................................................................................32.1 Introduction...........................................................................................................................32.2 Overview of merger and acquisition processes.....................................................................32.3 The stages of a Project process.............................................................................................42.4 Project planning....................................................................................................................42.5 Stages involved in execution of project................................................................................52.6 Monitoring and controlling the project.................................................................................62.7 Concerns of a business..........................................................................................................62.8 Termination of the project.....................................................................................................6CONCLUSION................................................................................................................................7REFERENCES................................................................................................................................7

INTRODUCTIONBusiness law is a law which governs the commercial transactions of an organisation.Mergers and acquisition is one of the important business activities, which allow different parentcompanies to be merged into a single unit. And, a project is used in an organisation forunderstanding the various activities to achieve business and non-business objectives efficiently.A project could be considered by an organisation for effective planning and implementation ofthe business and non-business activities.The report deals with an M&A project management emphasising on a range of activitiesrequired for managing a project successfully. Also, the report focuses on the concerns, processes,and control problems associated with the management of project.TASK 11. Define the key characteristics of any project?A project is an activity taken up by individuals and organisation in order to achieveorganisational objectives effectively. (Turner, 2014.) The various characteristics of a project areas follows:Temporary: This means that the project is not infinite, as it has a starting pointand an end point. The end result is achieved through fulfilling all the objectivesof the project.Unique deliverable: A project is based on the aims which are deliverable, andthese are addressed before starting a project, for instance, a product, a service,etc.Progressive elaboration: A project progresses in stages and these could beanalysed by continuously evaluating it.2. What is the Scope Statement for a project? What role does the Work Breakdown Structure(WBS) have in suchastatement?Every project, whether big or small, comprises of a project scope statement. A projectscope statement is a tool which is useful in determining the milestones, requirements, constraints,etc. pertaining to a particular project. It sets the boundaries for examining whether the projectdeliverables are within or outside of scope of a project. For instance, a project scope statementmight include objectives, issues and risks, etc.1

A Work Breakdown Structure (WBS) is a tool which is used to manage a projecteffectively by further disintegrating the tasks, meaning thereby, it divides the entire project intosmall tasks and ensure that these are achieved or accomplished. According to the ProjectManagement Body of Knowledge (PMBOK), WBS is a “deliverable oriented hierarchicaldecomposition of work to be executed by the project team.” (Kerzner and et. al., 2017.) The useof WBS in a project is that it outlines the map of a project. It disintegrates the project intosimpler units starting from the top into subcategories on the basis of hierarchy, which helps inallocation of resources, better monitoring and controlling the project, etc.3. Using the information below, plot out a full project Gantt chart and identify the critical path.How many days does it take to complete theproject?A Gantt chart is a horizontal bar chart, which is used in project management. It helps inunderstanding a schedule to plan, coordinate and track different tasks in a project report. Thistool was given by an American engineer and social scientist, Henry L. Gantt in the year 1917,and therefore, is termed after him.2

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