Fundamental of Project Management

This study report offers a comprehensive and detailed analysis of project-management consulting that addresses essential aspects and associated different PM issues. Within a timeframe that is established, the entire work focuses on automation futures (AF) PLC to help companies meeting their stated objectives.

Fundamental of project
management

Executive summary
This study report offers a comprehensive and detailed analysis of project-management
consulting that addresses essential aspects and associated different PM issues. Within a
timeframe that is established, the entire work focuses on automation futures (AF) PLC to help
companies meeting their stated objectives. Automatic Futures is a manufacturing and
outsourcing services firm that conducts projects for technology including product creation with
different clients and organisations to improve productivity and infrastructure within a client
structure. A case study of AF PLC is being performed in this project report and covers four
specific parts. The first factor deals with describing the company's project limits and recognizing
threats. Second dimension includes including project timetable analysis with the aid of Gantt
charts as well as network diagram. Throughout the report's third dimension, efforts were made to
evaluate the comprehensive budget throughout order to predict the contract 's revenues. The final
section of the study deals with the creation of a new timetable for the program after reviewing
the current success with the expected progress and making advice to the organization on
selecting an acceptable improved solution.

Contents
Executive summary..........................................................................................................................2
INTRODUCTION...........................................................................................................................4
Part A...............................................................................................................................................4
A Significance of different iron triangle criteria in assessing the general aims and priorities of
the Project...............................................................................................................................4
B. Identify the threats that are expected to occur during AF Plc implementation of the work
with the support of risk register..............................................................................................6
Preparation of a network diagram to show the critical path and planned duration of the project.
..............................................................................................................................................11
Comparison of Gantt chart:..................................................................................................14
PART B..........................................................................................................................................20
Reflection.............................................................................................................................20
CONCLUSION..............................................................................................................................21
REFERENCES..............................................................................................................................22

INTRODUCTION
Project Management is a way of planning, organizing, implementing and controlling all the
tasks necessary during the implementation of a program (Samset and Volden, 2016). It is also
known as a systematic approach of managing, tracking, scheduling and preparing the projects
and activities of a group of people in order to achieve a project's goals and task specifications
within a specified time period. A case analysis of Automatic Futures (AF) PLC that is
technology consultancy, consulting as well as technology / product creation firm is carried out in
the following project article.
The project summary provides a technical advice structure with analytical analysis for
political. Furthermore, project recognition and risk, planning and expense, performance
monitoring and spending, evaluation and enhancement of value. In addition, reflective research
has been designed in this report.
Part A
A Significance of different iron triangle criteria in assessing the general aims and priorities of the
Project.
Iron Triangle frequently defined as Project Management Triangle concept that seeks to
describe the restrictions correlated with project management. Effective implementation of every
project typically relies on various key variables or criteria of restrictions that are time, scale,
price and time depending on all 3 components. Project management are taking attempts to
navigate the variables that may serve as obstacles in the ultimate implementation and completion
of the project (Usui, 2012). All the variables are intertwined and, in certain aspects, a shift in
some aspect always resulted in development. The key criteria per each Iron triangle scheme are
as follows:
 Each job needs to be finished only within time frame planned.
 Each project should be done under the expense recommended or budgeted.
 Every project will meet the framework or the specifications.
 This will always take note of the price specifications of the consumer.

Cost: It may be described as the overall expense incurred in implementing and executing
a project. A project will be accomplished under the expenditures budgeted mostly during early
preparation of the project (Hall, 2012). However, certain schemes have specific criteria and also
don't define the expense estimate because the primary emphasis is on the development's
scheduling and efficiency. When expenses spent on a project are to be minimized, whether
project duration has to be changed or the period frame has to be moved back. AF Plc's
contribution to the project growing as the organization makes preparations to reach the latest
deadlines. To resolve the same, the complexity of the project is really being reduced and
program's elements are being expanded and moved through phase two in reach the current
deadlines. The major expense limitation for AF Plc is the program's time frame decreasing
project costs often contributes to a decline of efficiency
Time: Each plan has a specific timeline prior of its completion which even the project
leaders will accommodate. It is important to apply deadlines to a project in order to track and
manage the schedule date efficiently (Kivilä, Martinsuo, and Vuorinen, 2017). Either the
expenses accrued are to be raised or the complexity of the project has to be modified to minimize
the period involved in the project. AF Plc's manager has the ability of fulfilling the program's
time constraint, as a consequence of which the expenses generated are rising. AF Plc's major
time limitation for administrators is the project's scale and criteria.
Scope: Project schedule can be specified as the project's mission and objectives, or other
specifications. This is the phase when many project leaders struggle as the complexity of each
and almost every venture that the management needs to execute is not often quite straightforward
and definitive and has the dimension of uncertainty inside it (Klein, Biesenthal and Dehlin,
2015). Savings of a project's scale contributes to product loss and expense savings though as a
consequence time is often moved back. Some of the main obstacles for AF Plc administrators on
project scale are the expense of executing the project.

The project's ultimate goal will be defined by the management after holding a careful
conversation with the customers on the effect of such three obstacles on project management.
Time, complexity and expense limitations relevant project ought to be specifically identified by
the management and concrete qualitative and quantitative targets can be established to ensure an
effective project execution. While the single box strategic planning of AF Plc suits the current
customers' needs, it cannot be deemed appropriate for any customer or project form. The triangle
of software development is a really viable method which indicates the overall significance of 3
important restrictions.
B. Identify the threats that are expected to occur during AF Plc implementation of the work with
the support of risk register.
A risk database is among the most critical resources which every organization's leaders use
to control risk. This is also valuable in the cycle of defining possible vulnerability for any
initiative and aiding with harm prevention reduction (Seymour and Hussein, 2014). All details
including the existence of the danger, the probability of the incidence of the danger, the effects of
the threat as well as the individual responsible for risk assessment are contained in the risk
registry for effective risk identification. Danger assessment allows project managers improve
total project execution productivity and output by predetermining future risk that may serve as a
barrier in the construction projects.
Some of the other biggest threats defined for the administration of the AF Plc venture
involve employee’s safety and wellness, changing of directions, environmental disasters,
operational wastage, incompetence etc. Each of these threats have the ability to serve as an
barrier in the whole cycle and so it is recommended that the management will take a quick safety
measure by assessing the hazards and their effect scores throughout the whole project. The total
risk ranking relies on two main variables that are the conditional probability of danger and the
effect of risk occurrence on the overall project circumstance (Turner, Ledwith and Kelly, 2012).
RISK
(Various risks
that may arise
during the
course of
project)
LIKELIHOOD
(1-5), 1 being
least chances
and 5 being the
highest chances.
IMPACT
(1-5), 1
being the
least
impact
and 5
RATING
(Increasing
order
where an
increased
number
OWNER
(Person who
is
responsible
for
mitigating
MITIGATION
PLAN
(A plan prepared
by the
management to
reduce the

being the
highest
impact
denotes
higher
overall
risk)
the risk.) likelihood and
the impact of a
particular risk)
Health and
Safety risk for
workers
4 4 6 Supervisor
& Managers
Regular
environmental
inspections and
adequate
protection and
security
measures will be
carried out on
the building
ground while
taking into
consideration
the regulatory
specifications.
Labour
Shortages
2 4 8 Human
resource
manager
In the event of
worker scarcity
and the potential
to satisfy
flexible labour
demands, extra
labour will be
given.
Unexpected
increasing
material costs
2 3 6 Purchase
manager
Proper
cooperation with
the manufacturer
for the whole
length of the

project, and
control of the
supply chain
network.
Poorly drafted
contracts
3 4 12 Legal
department
A committee
will be hired to
check the
project's legal
landscape and
contractual
capabilities.
Natural
disasters
1 5 5 Management Insurance
against natural
hazards should
be used to
significantly
reduce the
effects of harm.
Theft of
equipment
3 4 12 Project
Manager
A full protection
plan needs to be
created to
protect the
products and
equipment
throughout the
entire project
duration, such as
increasing
security on
location.
Unknown site 3 3 9 Supervisor Project layout

conditions must be well
known and
adequate site
testing must be
performed prior
to project
launch.
Change in
orders
3 4 12 Project
manager
Project
management
needs to create
reasonable
standards with
the client about
project
specifications
and potential
implications of
order
adjustment.
Nonetheless, a
little aspect of
versatility will
always be
available to
some degree in
order to change
project needs.
Availability of
materials
2 4 8 Purchase
manager
Agreements
ought to be
produced with
the assistance of

daily
transportation of
goods to ensure
smooth
processes and
manufacturing
cycle. To
determine the
efficacy and
client
satisfaction, a
full background
review of the
manufacturer
should be
carried out.
Mismanagemen
t of the project
3 4 12 Project
manager
The whole
project will be
split into minor
activities that
help to measure
project
implementation
performance up
to a specific
time period.
Tools including
the Gantt map
and the work-
breakdown
method may be

utilized to assess
the timetable
and to maximize
project
management
efficiency.
Preparation of a network diagram to show the critical path and planned duration of the project.
A network diagram may be described as a graphical depiction of the various operations,
tasks and obligations to be performed throughout a project. It divides the entire job into specific
projects and events (Turner, 2016). Network diagram is a really helpful method that allows the
administration to visualize the whole project plan and the series of job activities. It is indeed very
useful when monitoring status of the project at different stages alongside achievement levels.
Visual function enhances diagram density and as a result, project management performance can
be increased. The network diagram that indicates AF Plc construction direction and expected
length is as described in the following:
The network diagram described illustrates the different options possible for completing
the project for managing AF Plc as well as the blue rows indicate the direction along which the
period needed to complete the whole task is negligible. The total period needed for completion of
the project is expected to be 58 weeks.
Gantt chart for the project.

A Gantt map is a very critical project management method and is a sort of bar chart
showing a timeline of a project (Bucero and Englund, 2015). Specific tasks within a project are
illustrated in a Gantt map towards the period taken to achieve them. It is a really essential tool
used to monitor the implementation project progress and to boost process improvement
usefulness. Increasing bar on even a Gantt map reflects the frequency and length of the operation
in question. Below is a map for AF Plc initiative Gantt:
Depending on the aforementioned table, the project delivery date is projected to be August
7, 2020 as long as there is no adjustment or adjustment of the program's scheduling and
timetable.
Description of the overall spending expected, including estimate of the contract's
estimated net income.
Budget can be described as a document that includes expected or anticipated revenues or
expense from a business operation over a set duration. It is an essential predicting tool. A
discriptive budget and forecasted financial gains from the AF Plc agreement is as follows:

Interpretation: According to the arrangement, AF Plc is eligible to obtain a payment of
£50,000 a day if the task is complete by the schedule and because the contract is scheduled to be
delivered on 7th August 2020, which would be 42 days past the deadline, a payment value is
determined on the ground of £ 50,000 per day over a 42-day duration. According to the
agreement, if the accumulated price is much less than the actual costs, everything that surplus in
50 % of the surplus amount would be communicated with the customer in the 50:50 ratio.
Therefore, out of the excess balance of £5,682,390, the company earns a total of £ 1,420,597.5.
Components of budget
Materials Budget: This corresponds to the element of the budget that also defines the total
quantities of products necessary to complete the job and the unit price of substance to be
accumulated (Leach, 2014). Budgeting resources enable the boss maintain efficient operation of
different operations where content plays a significant role such as produce.
Labour budget: It shows the overall amount of labour resources employees needed for the
entire length of the project in spite of the periods. Efficient labour needs budgeting let project
management insure that no gaps are generated in the timetable of the project as a result of that
unusual labour costs.
Comparison of Gantt chart:
The accompanying table is designed to equate the meaningful progress mostly with
expected progress over a span of 17 weeks, with the aid of Gantt Map.

Interpretation: According to the above chart, it can be evaluated that, after a span of 17
limitations, Task H, which is producing compact manufacturing systems, is performing much
better than predicted and anticipated, and Task D, F & G, but is comprehensive factory
architecture, production of automation tools and production automation machinery, indicates
differences in the real progress relative to the projected growth. It is mostly because the AF Plc
directly oversees Project H and TECHERS listens to the other activities. This variance in the
success of such projects can contribute to a shift in the timetable and timing of the project,
including the pro team costs and range.

Updated Gantt map
Due to a major discrepancy in real progress and expected progress that was detected after
17 weeks of project inception with the aid of an inspection, the entire project timeline is impaired
and a updated Gantt map for the venture is as follows:
Earned Value Analysis table

The CPI or cost-effectiveness factor was calculated well below 1 as per that estimates,
which is detrimental to an estimated economic viability. Although the system output index or
SPI is much less than 1 the specific project schedule for activity (c) was not as expected in the
circumstances of actions D, E, F, G and H. Indeed the projected expense of delivering the project
begins to climb, suggesting some need to update the programme. The final review reveals this
proposal does not reach expectations or specifications.
Projected completion date
The target date is 06/07/2020 based on initial estimates that are earlier than the expected
25/09/2020 deadline. The overall project will be finished within the planned timeline for the
latest strategy, though costs were increased leading to previous completion of the project, which
led to project failures (Padalkar and Gopinath, 2016). Nonetheless, some strategies exist such
that the business can minimize operational expenses and raise projected revenue figures, but the
transition deadline will also move to 14/08/2019 in the very same time period. The time schedule
shift reduces the incidence of a pay-out that can be accrued in the void slightly earlier.
Recommendation

There are different types of solutions accessible for avoiding the tax costs. Several drawbacks
and rewards arise out having various styles having choices. It could be proposed that an option
for transport must be preferred depended upon the above analysis. It's because it could save
expense of 75000 Euros. Hence, they should focus on the alternative mentioned above. If the
aforementioned organization opts for this option, competitiveness would have a beneficial
impact, i.e.
 Low cost: This option has reduced production prices and allows it possible for the above-
average companies to eliminate extra expenses. This will definitely results in increased
productivity relative to profitability. Specific solutions, though, are also suitable but none
are particularly effective and can save further time.
 Suitable: In addition to the above-mentioned advantage of the option selected, the reality
that it would be optimal for the above-mentioned project pursues the further beneficial
influence of this selection. They must consider the chance into account as well.
Review of several options or main initiative suggested that the entire business model would
be feasible without seeking alternatives for the company. The end target will be Aug 14 2020, as
the alternatives are adopted, although the starting deadline will be July 6 2020. This is obvious
that the contract agreement included an expense provision section. AF PLC was needed for this,
in a system after the date of completion, i.e. 25/09/2020. To reward TTF and to make
compensation of 100 K pound a week with a full-day break. Since the work was completed early
on the day before delivery, the consumer would get a £50k bonus every day.
There are also some important recommendations that ought to be implemented by the project
manager of the said company enterprise. Therefore, if they did, they will profit from increased
wages and a better project result. When the required elements are not incorporated, otherwise AF
plc may find it difficult to successfully manage the programme.

PART B
Reflection
1. The challenges faced in the Module: The multi-risk project management approach
becomes possible throughout the execution of the necessary project tasks (Silvius,
Kampinga, Paniagua and Mooi, 2017). There is one type of transparent project
management. As PM at the AF PLC, I was confronted with a range of hurdles in the
technological project that presented significant challenges throughout end of the work. I
had several issues because the plan was launched by a small team as neither of them was
directly liable for the project tasks at the through management level. These changes in
design produced significant uncertainty in the group, since there was no project manager
with specific role requirements.
2. Assessment challenges: Throughout the test, I encountered several problems that were
leading to emotional discomfort at the time. Mainly, I was having difficulty defining
roles and duties to the different team leaders. As a consequence, I didn't even realize the
skill of the workers. Furthermore, services have not been utilized properly. I always had a
issue with constructing the project on schedule as, owing to an imbalanced job
distribution, I had difficulty achieving the whole mission under a given timeline and cost.
They are just a couple of the main problems that occurred during the evaluation. I always
served as the project manager, have been required to properly assign tasks to all team
members as well as to monitor the results of each team leader. I've heard a lot on how to
address such things in a responsive setting. These obstacles will certainly help me work
in the immediate future with specific facets of improved managing projects.
3. Strong professional growth objectives: Since finishing the AF Plc project, I have
established certain key personal priorities centred with my own project experience. Those
personal growth priorities are listed as follows in this regard:
I should concentrate on Resource Management. That is how to encourage a project manager
to motivate any team members. Throughout the aforementioned project, I was unable to control
time and caused many problems.
I'll be working on improving my own personal skills. I don't have any great experience dealing
with new staff member owing to the issues in the aforementioned program AF plc.

Great project management qualities as a project manager, I will solve any obstacles to
complete the project and develop the necessary features like a successful project manager.
4. Efficient coordination: At the beginning of the project it is important to have strong
teamwork to enable each job to get the correct candidate (Zheng, Chan and Li, 2016).
Because of the need to coordinate operations and at an increasing level of management
pass the necessary knowledge. During the AF PLC method effective communication
could be used to areas served among group members. This will also enable us to sustain
consistent success and objectives.
5. Effective decision making: As a project manager I must take all actions relating to the
project PLC TTF. When a conclusion is made in a timely manner, the matter is
considered to be positive and best addressed. As a boss, intensive learning would
improve my capacity to make good decisions and achieve positive results.
6. Technical expertise: As AF PLC is a Construction consulting service, specialist
knowledge is crucial for the appropriate project Manager. Management initiatives would
be realistic because they are made practical with the appropriate resources and
technological experience main in the project implementation.
CONCLUSION
In the end of report, it is concluded that Project planning is fundamental, as it ensures the
appropriate organisational goals implementation strategy. It enables organizations to achieve
strict influence over different channels by providing project information to every task like
task description, planned length, no workers at work as well as the time table. It is very
difficult to create unnecessarily ambitious targets and timeframes, or to neglect equivalent
project performance forecasts without proper project management. This essentially involves
over-budgeting and the late completion of programmes.

REFERENCES
Books and Journals
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Project Management Institute.
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Bucero, A. and Englund, R.L., 2015, October. Project sponsorship: Achieving management
commitment for project success. Project Management Institute.
Turner, R., 2016. Gower handbook of project management. Routledge.
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