Business Project Management- Research
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Added on 2020-02-14
Business Project Management- Research
Added on 2020-02-14
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Business Project Management1
Table of ContentsINTRODUCTION................................................................................................................................3ASSESSMENT TASKS.......................................................................................................................31. Discussing the project in the case study.......................................................................................32. Evaluation of the application of the concepts and principles of business project management...43. Preparing project plan documents for the case study by assumptions..........................................4CONCLUSION..................................................................................................................................12REFERENCES...................................................................................................................................132
INTRODUCTION Project Management is an exceptional business idea for logical thinkers, organized planningand detail oriented professionals. Every business organization is having its own set objectives andgoals. To achieve it or successful completion of those targets, it becomes important to make acareful planning, management of the resources and its organization. This all can be attained with theapplication of project management (Hwang and Tan, 2012). It is a very useful method that focusesover completion of the work with effective and optimal utilization of resources such as time,finance, technology etc. The present research is based on business project management where a casestudy of University of Exeter Business School, Turner and Townsend is taking into theconsideration. As per the given case study, it has been clear that Turner and Townsend wasappointed project manager for the construction of the University of Exeter Business School inDecember 2007. In January 2011, the university building was opened on time and under the budget.The purpose of this project was to providing the university will additional world class research,social, learning and teaching facilities. The key objective of this plan was to deliver a building thatcan able to enhance the position of the institute as an international business school (Kerzner, 2013).ASSESSMENT TASKS1. Discussing the project in the case studyThe given case study is based on University of Exeter Business School in which institutewas appointed Turner and Townsend person as a project manager. In December 2007, the buildingof university was reconstructed and in January 2011, it was opened for the students within the setbudget and timeframe. The objective of carrying the following project was to enhance the positionof university at the international level as international business school. Along with this, anotherpurpose of executing this plan was to develop sustainable education facility with “Wow factor”.Further, in addition, there was one more challenge in front of the project manager i.e. maintainstudent satisfaction during construction (Bredillet, 2010). This project was providing the Universityof Exeter Business School with additional world class research, social, teaching and learningfacilities. At the time of development of project plan, there was some key objectives set such asenable the business school to deliver its vision, enhance position as an international business schoolat international level, creation of a state of the art educational facility, creating a sustainablebuilding with reducing CO2 emissions etc (Burke, 2013).On the other hand, several resources were used for the following project. The budget was 14million pounds. The human resources were appointed in this plan was project manager, project3
management staff, cost management team, client, architects HLM, consulting engineers Hoare Leeand civil and structural company Opus International. The estimated total cost of University ofExeter Business School project was 13 million pounds with annual cash flow of 500,000 pounds.Apart from this, the key challenge for the project team was to satisfy the demand of variousstakeholders with various expectations (Bredillet, 2010). They had to work hard regardingcompleting the project plan under the given time duration and manage complex problems. Further,project team members worked closely with university and take reliable and appropriate decisions.Beside all of these, to meet the expectations of the stakeholders and manage complexity level ofplan, a good communication was required. To reduce the significant delay in completion of thework and avoid miscommunication or misunderstanding situation, project management team wasneeded to establish a proper communication by formal and informal methods. After end of threeyears, the whole University of Exeter Business School plan was completed within 14 millionpounds by achieving all objectives and deal with challenges (Meredith and Mantel Jr, 2011).2. Evaluation of the application of the concepts and principles of business project managementThere are three concept of business project management: time, cost and quality. These threeare most important factors which are not easy to control. Evaluation of application of the followingconcept in the context of University of Exeter Business School, it has been found that the planwould be completed within the 3 years under the 14 million pounds budget by meeting variousquality standards. After the completion of the work, it has determined that whole event had beendone as per the set three major constraints (Schwalbe, 2015).By moving towards the principles of business project management, it related to objectives ofthe plan. In the context of University of Exeter Business School, there were three objectives set byproject manager which are as follows:Enable the business school to deliver its vision and enhance its position as an internationalbusiness school at international level.To maintain student satisfaction during construction of university building. To provide additional world class research, learning, teaching and social facilities (Wysocki,2011).3. Preparing project plan documents for the case study by assumptionsa. Time management planTime management can be defined as managing time in an effective manner so that aright activity can be completed within the right time duration. With the help of different timemanagement activities, it becomes easy to assign particular time frame to events. In the case4
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