Fundamental of Project Management

FUNDAMENTAL
OF
PROJECT
MANAGEMENT

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................4
PART A...........................................................................................................................................5
1. Project definition/Parameters and Risks..................................................................................5
a) Relative importance of various iron triangle parameters in setting overall project
objectives.................................................................................................................................5
b) Identifying risks that AF PLC are likely to face with construction project of this nature. .6
2. Planning and costs...................................................................................................................8
a) Prepare a network diagram showing the critical path and planned duration of the project.8
b) Prepare a Gantt chart for the project...................................................................................9
c) Detail of overall project budget and projected net profit of the contract............................9
3. Managing progress and spending..........................................................................................12
a) Create a table comparing the planned progress against the actual progress values...........12
b) Produce a revised Gantt chart and indentify the new completion date.............................13
4. Earned value analysis and acceleration.................................................................................15
a) Using EVA determine planned % percentage complete compare with actual % complete
...............................................................................................................................................15
b) Create a projected completion date for the entire project using EAC...............................16
c) Recommend which of the options should be accepted and which should be declined.....17
REFERENCES..............................................................................................................................18

EXECUTIVE SUMMARY
This project report consists of case study of Automation Futures Plc or AF Plc; in which
company has taken contract to install automation plant for its client company TTF PLC (Train
manufacturing client). This report will discuss about good contracts terms and conditions and
what essential points should be mentioned in the contract. PART A carries four different
questions but sequentially related with each other. First question will discuss about project
definition and risks analysis in a project. Second question will reflect critical path for estimated
scheduled project and also Gantt chart will graphically represent how activities are going on.
Third and fourth part discussed about actual and projected completion percentage and cost
incurred on each. EVM method will show how much extra cost has to be paid by the company
for completion of project.