Project Management Concepts and Practices

The assignment delves into the core principles of project management. Students are expected to demonstrate their understanding of various project management concepts, including planning, scheduling, risk management, communication, and quality control. The focus is on analyzing different methodologies used in project execution and evaluating their effectiveness in achieving project objectives.

Running head: PROJECT MANAGEMENT
Project Management: Virtucon/Globex Scenario RALS Event
Name of the student:
Name of the university:

1PROJECT MANAGEMENT
Table of Contents
1. Part 1: Measurable Organizational Value (MOV).......................................................................2
1.1 Identification of the desired area of impact...........................................................................2
1.2 Identification of the type of the values..................................................................................4
1.3 Development of appropriate metric.......................................................................................4
1.4 Development of the timeframe..............................................................................................5
1.5 Summary of the MOV...........................................................................................................8
2. Part 2: Scope management plan for RALS..................................................................................8
2.1 Project scope..........................................................................................................................8
2.2 List of project resources.........................................................................................................9
2.3 The resource details.............................................................................................................10
3. Part 3..........................................................................................................................................11
3.1 Work Breakdown structure for RALS.................................................................................11
3.2 Set of project activities........................................................................................................11
3.3 Resources of the project.......................................................................................................14
3.4 Estimated cost for the task...................................................................................................17
3.5 Time estimated for the project.............................................................................................23
4. Part 4: Project Risk Analysis and Plan......................................................................................24
4.1 project risk analysis and plan...............................................................................................24
5. Part 5: Quality management plan..............................................................................................26
5.1 Team’s philosophy...............................................................................................................26
5.2 Quality assurance for RALS project....................................................................................26
Part 6: Closure and Evaluation......................................................................................................27
6.1 Development of closure checklist........................................................................................27
6.2 Development of project evaluation outline..........................................................................28
Bibliography..................................................................................................................................29

2PROJECT MANAGEMENT
1. Part 1: Measurable Organizational Value (MOV)
The Globex established a prior project on Rivarina Agriculture and Lifetime Show
(RALS, a 3 days event) from 2000. This show demonstrates the local business, agricultural
equipments suppliers and the lifestyle products as well. For proper management of the RALS
projects the components those must be followed by the program developers include show stand
co ordination, live display of the program, catering, volunteers etc. The tickets for RALS show
are available in the RALS gates which are manual however; in order to resolve the issues
associated to manual ticket booking system, the Globex committee has decided to adopt
computer based ticket booking system for their consumers. With the help of manual ticketing the
efficiency and timeliness will increase accordingly.
In addition to this for this change the service providers are needed to rearrange the
existing approaches in terms of proper quality management, budget management, time
management, risk management etc. In order to execute the project concept without any error it is
necessary for the project manager and project development team members to work according to
the work breakdown activities within estimated time and budget as well.
1.1 Identification of the desired area of impact
Desired area Impact Ranking
Strategy With the help of proper
business strategies the
company will be able to
gain higher revenue and
more consumers as well.
2

3PROJECT MANAGEMENT
Consumers Consumers are the most
important asset to any
business, with advanced
online ticket booking
system the consumers need
not to wait in the queue and
they could get the expected
answers from the online
ticket booking portal also.
4
Operational With operational and
functional strategies the
employees and project
development team members
will be able to operate the
online ticket booking
system properly.
3
Financial Financial support is the
main thing that helps the
project developers to
execute the project in such
a way so that they could get
effective revenue
throughout.
1

4PROJECT MANAGEMENT
Social For improving the existing
communication system the
social approaches are very
much important to be
improved.
5
1.2 Identification of the type of the values
Better: The online ticket booking system will help the project manager to deliver quality
service to their clients.
Faster: It will help to speed up the entire process starting from the ticket booking up to
its delivery to the consumers.
Cheaper: The total business efficiency will increase and the rate of capital investment
will be completely minimized.
1.3 Development of appropriate metric
The stakeholders of associated to the project are divided into two parts internal
stakeholder and external stakeholder. In order to evaluate the online ticket booking system for
RALS show the stakeholders are required to meet their expectations properly. The expectations
of the stakeholders are as follows:
Stakeholder’s name Expectation
Project manager To complete the project on time
Team members To deliver service as per the expectation of the

5PROJECT MANAGEMENT
internal and external consumers
Finance manager The finance manager expected to complete the
project within estimated budget
Project volunteers The volunteers are needed to control and
monitor the project progress properly and they
expect to increase the system efficiency
1.4 Development of the timeframe
WBS Task Name Duration Start Finish Predecessors
0
Timeframe development
for RALS system
110 days Mon 10/2/17 Fri 3/2/18
1 Project initiation phase 31 days Mon 10/2/17 Mon 11/13/17
1.1
Understanding project
requirements
6 days Mon 10/2/17 Mon 10/9/17
1.2 Budget planning 5 days Tue 10/10/17 Mon 10/16/17 2
1.3
Time management for
the RALS project
5 days Tue 10/17/17 Mon 10/23/17 3
1.4 Risk assessment 4 days Tue 10/24/17 Fri 10/27/17 4,2
1.5 Scope assessment 6 days Mon 10/30/17 Mon 11/6/17 5

6PROJECT MANAGEMENT
1.6
Resource requirement
for RALS online ticket
booking system
5 days Tue 11/7/17 Mon 11/13/17 6
2
Milestone 1:
Completion of project
initiation phase
0 days Mon 11/13/17 Mon 11/13/17 7
3 Project planning 32 days Tue 11/14/17 Wed 12/27/17
3.1
Risk management
planning
6 days Tue 11/14/17 Tue 11/21/17 8
3.2 Scope management 5 days Wed 11/22/17 Tue 11/28/17 10
3.3 Quality management 7 days Wed 11/29/17 Thu 12/7/17 4,11
3.4
Stakeholder’s
identification
5 days Fri 12/8/17 Thu 12/14/17 12
3.5
Online ticket booking
system development
4 days Fri 12/15/17 Wed 12/20/17 13
3.6
Online payment
implementation
5 days Thu 12/21/17 Wed 12/27/17 14
4 Milestone 2:
Completion of project
0 days Wed 12/27/17 Wed 12/27/17 15

7PROJECT MANAGEMENT
planning phase
5 Project execution 29 days Thu 12/28/17 Tue 2/6/18
5.1 Website analysis 5 days Thu 12/28/17 Wed 1/3/18 16
5.2 Website testing 6 days Thu 1/4/18 Thu 1/11/18 18
5.3
Understating
consumer’s requirements
6 days Fri 1/12/18 Fri 1/19/18 19
5.4
Prototype
implementation
6 days Mon 1/22/18 Mon 1/29/18 14,20
5.5
Reviewing functional
requirements
6 days Tue 1/30/18 Tue 2/6/18 21
6
Milestone 3:
Completion of project
execution phase
0 days Tue 2/6/18 Tue 2/6/18 22
7 Project closure 18 days Wed 2/7/18 Fri 3/2/18
7.1 Post project evaluation 6 days Wed 2/7/18 Wed 2/14/18 23
7.2
Final project
documentation
7 days Thu 2/15/18 Fri 2/23/18 25
7.3 Stakeholder signoff 5 days Mon 2/26/18 Fri 3/2/18 26

8PROJECT MANAGEMENT
8
Milestone 4:
Completion of project
closure phase
0 days Fri 3/2/18 Fri 3/2/18 27
1.5 Summary of the MOV
After the successful completion of the project, Globex will be able to satisfy the
consumers by reducing the length of the queue and by increasing the timeliness of the online
ticket booking system. In addition to this, the Measurable Organizational Values (MOV) must be
utilized appropriately.
2. Part 2: Scope management plan for RALS
2.1 Project scope
The scope of the project is to develop RALS event for the consumers with improved
ticket booking system. With the help of this improvement the users will be able to get tickets
online and they will not be required to wait in long queues. The scopes of the project are as
follows:
 To deliver passes for all 1, 2 and even for 2 days
 To execute the project within the estimated budget and time as well
 To execute E-ticket booking opportunity for the consumers
 To implement risk management and quality management plan

9PROJECT MANAGEMENT
After successful completion of the project the project manager and the project team
members will be able to deliver online tickets to the consumers where they need not to wait in a
any queue and even they can also use the mobile app for booking tickets regardless of their
location and time as well.
2.2 List of project resources
Resource
Name
Initial
s
Grou
p
Max.
Units
Std.
Rate
Ovt.
Rate
Cost/
Use
Accrue
At
Base
Calenda
r
Project
manager
P 100
%
$20.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
project
finance
manager
p 100
%
$15.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
application
programme
r
a 100
%
$16.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
system
analyst
s 100
%
$16.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
system
tester
s 100
%
$12.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
project
sponsors
p 100
%
$20.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard

10PROJECT MANAGEMENT
project team
members
p 100
%
$10.00/
hr
$0.00/
hr
$0.00 Prorate
d
Standard
2.3 The resource details
People: the project manager is responsible to monitor and control the project progress
details whereas; the finance manager estimates the total capital required for the successful
completion of the project. The application programmers, system developers and tester are
responsible to check whether the online website is user friendly or not. If any component is
found to be not present then additional changes should be incorporated according to the missing
elements,
Technology: Proper digital devices, with additional software and hardware and internet
connections are also needed
Facility: While developing the website, proper team activities must be done in the project
planning and execution phase properly.
3. Part 3

11PROJECT MANAGEMENT
3.1 Work Breakdown structure for RALS
Timeframe development
for RALS system
Project initiation phase
Understanding
project
requirements
Budget planning
Time management for
the RALS project
Risk assessment
Scope assessment
Resource
requirement for
RALS online ticket
booking system
Milestone 1:
Completion of
project initiation
phase
Project planning
Risk management
planning
Scope management
Quality management
Stakeholder’s
identification
Online ticket
booking system
development
Online payment
implementation
Milestone 2:
Completion of
project planning
phase
Project execution
Website analysis
Website testing
Understating
consumer’s
requirements
Prototype
implementation
Reviewing
functional
requirements
Milestone 3:
Completion of
project execution
phase
Project closure
Post project
evaluation
Final project
documentation
Stakeholder signoff
Milestone 4:
Completion of
project closure
phase
Figure 1: Work Breakdown Structure for RALS system
(Source: created by author)
3.2 Set of project activities
WBS Task Name Duration Start Finish Predecessors
0
Timeframe development
for RALS system
110 days Mon 10/2/17 Fri 3/2/18
1 Project initiation phase 31 days Mon 10/2/17 Mon 11/13/17

12PROJECT MANAGEMENT
1.1
Understanding project
requirements
6 days Mon 10/2/17 Mon 10/9/17
1.2 Budget planning 5 days Tue 10/10/17 Mon 10/16/17 2
1.3
Time management for
the RALS project
5 days Tue 10/17/17 Mon 10/23/17 3
1.4 Risk assessment 4 days Tue 10/24/17 Fri 10/27/17 4,2
1.5 Scope assessment 6 days Mon 10/30/17 Mon 11/6/17 5
1.6
Resource requirement
for RALS online ticket
booking system
5 days Tue 11/7/17 Mon 11/13/17 6
2
Milestone 1:
Completion of project
initiation phase
0 days Mon 11/13/17 Mon 11/13/17 7
3 Project planning 32 days Tue 11/14/17 Wed 12/27/17
3.1
Risk management
planning
6 days Tue 11/14/17 Tue 11/21/17 8
3.2 Scope management 5 days Wed 11/22/17 Tue 11/28/17 10
3.3 Quality management 7 days Wed 11/29/17 Thu 12/7/17 4,11
3.4 Stakeholder’s 5 days Fri 12/8/17 Thu 12/14/17 12

13PROJECT MANAGEMENT
identification
3.5
Online ticket booking
system development
4 days Fri 12/15/17 Wed 12/20/17 13
3.6
Online payment
implementation
5 days Thu 12/21/17 Wed 12/27/17 14
4
Milestone 2:
Completion of project
planning phase
0 days Wed 12/27/17 Wed 12/27/17 15
5 Project execution 29 days Thu 12/28/17 Tue 2/6/18
5.1 Website analysis 5 days Thu 12/28/17 Wed 1/3/18 16
5.2 Website testing 6 days Thu 1/4/18 Thu 1/11/18 18
5.3
Understating
consumer’s requirements
6 days Fri 1/12/18 Fri 1/19/18 19
5.4
Prototype
implementation
6 days Mon 1/22/18 Mon 1/29/18 14,20
5.5
Reviewing functional
requirements
6 days Tue 1/30/18 Tue 2/6/18 21
6 Milestone 3:
Completion of project
0 days Tue 2/6/18 Tue 2/6/18 22

14PROJECT MANAGEMENT
execution phase
7 Project closure 18 days Wed 2/7/18 Fri 3/2/18
7.1 Post project evaluation 6 days Wed 2/7/18 Wed 2/14/18 23
7.2
Final project
documentation
7 days Thu 2/15/18 Fri 2/23/18 25
7.3 Stakeholder signoff 5 days Mon 2/26/18 Fri 3/2/18 26
8
Milestone 4:
Completion of project
closure phase
0 days Fri 3/2/18 Fri 3/2/18 27
3.3 Resources of the project
WBS Task Name Duration Resource Names
0
Timeframe development for
RALS system
110 days
1 Project initiation phase 31 days
1.1
Understanding project
requirements
6 days Project manager
1.2 Budget planning 5 days project finance manager

15PROJECT MANAGEMENT
1.3
Time management for the
RALS project
5 days
project finance manager ,Project
manager
1.4 Risk assessment 4 days Project manager
1.5 Scope assessment 6 days Project manager
1.6
Resource requirement for
RALS online ticket booking
system
5 days Project manager
2
Milestone 1: Completion of
project initiation phase
0 days project sponsors
3 Project planning 32 days
3.1 Risk management planning 6 days project team members
3.2 Scope management 5 days project team members
3.3 Quality management 7 days project team members
3.4 Stakeholder’s identification 5 days
project team members ,Project
manager
3.5
Online ticket booking system
development
4 days application programmer
3.6 Online payment 5 days application programmer

16PROJECT MANAGEMENT
implementation
4
Milestone 2: Completion of
project planning phase
0 days project sponsors
5 Project execution 29 days
5.1 Website analysis 5 days application programmer
5.2 Website testing 6 days application programmer
5.3
Understating consumer’s
requirements
6 days system analyst
5.4 Prototype implementation 6 days system analyst
5.5
Reviewing functional
requirements
6 days system tester
6
Milestone 3: Completion of
project execution phase
0 days project sponsors
7 Project closure 18 days
7.1 Post project evaluation 6 days system analyst, system tester
7.2 Final project documentation 7 days system analyst, system tester
7.3 Stakeholder signoff 5 days Project manager

17PROJECT MANAGEMENT
8
Milestone 4: Completion of
project closure phase
0 days
3.4 Estimated cost for the task
WBS Task Name Duration Start Finish
Resource
Names
Cost
Variance
0
Timeframe
development for
RALS system
110 days
Mon
10/2/17
Fri 3/2/18 $16,384.00
1
Project initiation
phase
31 days
Mon
10/2/17
Mon
11/13/17
$5,360.00
1.1
Understanding
project requirements
6 days
Mon
10/2/17
Mon 10/9/17
Project
manager
$960.00
1.2 Budget planning 5 days
Tue
10/10/17
Mon
10/16/17
project
finance
manager
$600.00

18PROJECT MANAGEMENT
1.3
Time
management for the
RALS project
5 days
Tue
10/17/17
Mon
10/23/17
project
finance
manager ,Proj
ect manager
$1,400.00
1.4 Risk assessment 4 days
Tue
10/24/17
Fri 10/27/17
Project
manager
$640.00
1.5 Scope assessment 6 days
Mon
10/30/17
Mon 11/6/17
Project
manager
$960.00
1.6
Resource
requirement for
RALS online ticket
booking system
5 days Tue 11/7/17
Mon
11/13/17
Project
manager
$800.00
2
Milestone 1:
Completion of
project initiation
phase
0 days
Mon
11/13/17
Mon
11/13/17
project
sponsors
$0.00
3 Project planning 32 days
Tue
11/14/17
Wed
12/27/17
$3,792.00
3.1
Risk management
planning
6 days
Tue
11/14/17
Tue 11/21/17
project team
members
$480.00

19PROJECT MANAGEMENT
3.2
Scope
management
5 days
Wed
11/22/17
Tue 11/28/17
project team
members
$400.00
3.3
Quality
management
7 days
Wed
11/29/17
Thu 12/7/17
project team
members
$560.00
3.4
Stakeholder’s
identification
5 days Fri 12/8/17
Thu
12/14/17
project team
members ,Pro
ject manager
$1,200.00
3.5
Online ticket
booking system
development
4 days Fri 12/15/17
Wed
12/20/17
application
programmer
$512.00
3.6
Online payment
implementation
5 days
Thu
12/21/17
Wed
12/27/17
application
programmer
$640.00
4
Milestone 2:
Completion of
project planning
phase
0 days
Wed
12/27/17
Wed
12/27/17
project
sponsors
$0.00
5 Project execution 29 days
Thu
12/28/17
Tue 2/6/18 $3,520.00
5.1 Website analysis 5 days Thu Wed 1/3/18 application $640.00

20PROJECT MANAGEMENT
12/28/17 programmer
5.2 Website testing 6 days Thu 1/4/18 Thu 1/11/18
application
programmer
$768.00
5.3
Understating
consumer’s
requirements
6 days Fri 1/12/18 Fri 1/19/18
system
analyst
$768.00
5.4
Prototype
implementation
6 days
Mon
1/22/18
Mon 1/29/18
system
analyst
$768.00
5.5
Reviewing
functional
requirements
6 days Tue 1/30/18 Tue 2/6/18 system tester $576.00
6
Milestone 3:
Completion of
project execution
phase
0 days Tue 2/6/18 Tue 2/6/18
project
sponsors
$0.00
7 Project closure 18 days Wed 2/7/18 Fri 3/2/18 $3,712.00
7.1
Post project
evaluation
6 days Wed 2/7/18 Wed 2/14/18
system
analyst,
system tester
$1,344.00
7.2 Final project 7 days Thu 2/15/18 Fri 2/23/18 system $1,568.00

21PROJECT MANAGEMENT
documentation
analyst,
system tester
7.3
Stakeholder
signoff
5 days
Mon
2/26/18
Fri 3/2/18
Project
manager
$800.00
8
Milestone 4:
Completion of
project closure
phase
0 days Fri 3/2/18 Fri 3/2/18 $0.00

22PROJECT MANAGEMENT
Figure 2: Cost estimated for RALS system
(Source: created by author)

23PROJECT MANAGEMENT
3.5 Time estimated for the project
Figure 3: Gantt chart for RALS system
(Source: created by author)

24PROJECT MANAGEMENT
4. Part 4: Project Risk Analysis and Plan
4.1 project risk analysis and plan
Project
development
phase
Risk
associated to
the phase
Responsible
person
Frequency Impact Mitigation
strategy
Project
initiation
phase
Wrong cost
estimation
Project
finance
manager
Monthly High The project
finance
manager
should make
feasibility
study properly
so that the
issues
associated to it
can be
mitigated
completely.
Project
planning
Incorrect
system
components
identification
Project team
members
Weekly Medium In order to
develop the
online ticket
booking
system, proper
components

25PROJECT MANAGEMENT
are needed to
be identified by
the manager
and project
team members
properly.
Project
execution
Testing
failure
Application
programmer
Monthly High After the
implementation
of the system
that must be
tested
accurately
before
execution
Project
planning
Failure in risk
management
Project
manager
Monthly High Risks are
required to
identified then
analyzed well
for minimizing
the rate of risks
Project
initiation
phase
Improper
understanding
of consumers
Team
members
Monthly High Based on the
requirement of
the consumers