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Fundamentals of Project Management - Report

   

Added on  2020-01-21

24 Pages5213 Words65 Views
Leadership Management
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FUNDAMENTALS OFPROJECT MANAGEMENT
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1SECTION I: Project Management Consultancy Report..................................................................11.Defining project in terms of outcomes and purpose.................................................................12.SMART objectives of Project..................................................................................................23.Specifying the project SCOPE.................................................................................................24.Providing a cost estimation for the project BUDGET.............................................................35.Clarifying the project SCHEDULE, assuming the project planning........................................46.Gantt Chart for the delivery of the project, showing a detailed breakdown of all projectactivities, the network diagram highlighting the critical path, and key milestones.....................67.Critically analyse the project’s stakeholders..........................................................................108.Assessing the project’s procurement strategies......................................................................109.Critically analysing the uncertainties that may affect the project’s objectives by creating arisk register................................................................................................................................11SECTION II: Reflective Essay......................................................................................................17Conclusion.....................................................................................................................................18References......................................................................................................................................19
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TABLE OF FIGURESFigure 1: Gantt chart for new product launch project of DropBox.................................................7Figure 2: Work breakdown structure for new product launch project of DropBox........................8Figure 3: Network Diagram for new product launch project of DropBox......................................9LIST OF TABLESTable 1: Budget for launching new product of DropBox in UK market.........................................3Table 2: Project plan for new product launch project of DropBox.................................................4Table 3: Risk Register for new product launch project of DropBox.............................................11
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INTRODUCTIONProject management can be defined as a process of completing number of activities forattaining a specific and unique objective. It includes number of fundamental principles formanaging projects in effective manner. These principles focus on project planning, riskmanagement documentation, benefits realisation and customer management, etc (Dey, Clegg andBennett, 2010). The current research project is based on fundamentals of project managementand regarding this study has chosen a new product launch project of an organization, DropBox. Itwants to launch a new encryption functionality service to their enterprise plan customers, forhighly sensitive data file storage, transfer and sharing. ProjectPlus is a project managementconsultancy which will provide an effective consultancy services to launching new product inUK market. Report will include description about objectives and scope of the project. Further itwill also describe the estimation about time and cost which will be required for completingproject in effective manner. Along with this, study will use different tools and techniques forcompleting different tasks of project in appropriate manner.SECTION I: PROJECT MANAGEMENT CONSULTANCY REPORT1.Defining project in terms of outcomes and purposeDropBox wants to launch its new encryption functionality service to their enterprise plancustomers of UK. It will be effective for highly sensitive data file storage, transfer and sharing.So, project manager needs to develop an appropriate project management plan for launching newproduct in an appropriate Location of London (Hobbs, 2009). Outcomes:Development of project plan for new product launch will be the major outcome of thisproject. It will attract target customers in effective manner which will increase the profitabilityand revenue of DropBox. It will help in making the international presence of the organization.Successful completion of the project plan is also considered as major outcomes of this project.Outcome of the project includes the awareness of customers of UK about the new product ofDropBox. Accomplishment of project in estimated time and cost is also considered as outcomeof this project (Walker, 2007).Purpose:1| P a g e
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Major purpose of this project is to launch new encryption functionality services ofDropBox in UK. Along with this, attracting significant exposure from recognized media outletsand providing appropriate entertainment program are also included in major purpose of thisproject. DropBox wants to target enterprise customers of UK for its new product, so, this projectwill focus on this objective also. Project plan purpose is managing operations and logistics ineffective manner and maintaining health and safety of each and every audience (Zwikael, 2009). 2.SMART objectives of ProjectFor completing each and every project, manager of Project Plus needs to developSMART objectives. These objectives will help in developing appropriate project plan and alsohelp in making charity about every activity. SMART objectives for new product launch projectof DropBox are described as under:To develop appropriate project plan for launching new product of DropBox in UK.To complete new product launch project in maximum four months or till 12th October2016.To accomplish new product launch project within a total budget of £150,000.To attract significant exposure from recognised media outlets (Martin and Guerin, 2006).To increase the profitability of DropBox by successful completion of this project. 3.Specifying the project SCOPEObjectives: To launch new encryption functionality service to enterprise plan customersof DropBox is the major objective of ProjectPlus. Time: Estimated time for this project will be approximately 98 days. As per the giveninformation project must start on 4th July 2016 and end on 12th October 2016. Analysis ofpast projects on similar subjects has reflected that it is sufficient time for completing thisproject in effective manner. Cost: It is one of the important attribute which may affect the overall outcomes of theproject. The current project will be a costly project for DropBox but it will provide hugeprofitability in future. As per the estimation it will take £150,000 amount of money inaccomplishment of this project (Levy, 2009). Resources: At the time of completion of this project, Project Plus will require differentsources such as human, financial, time and technical sources. So, for completing this2| P a g e
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projection Project Plus has been hired five consultants and one project manager. So, thisproject will be completed by 6 human resources. Along with this, for makingarrangement of financial capital DropBox will sue bank loan and retained earningsbecause these are cost effective financial resources for raising financial capital(Kloppenborg, 2011). 4.Providing a cost estimation for the project BUDGETAs per the above discussion Budget of DropBox is £150,000. So, budgeted cost for thisproject will be £150,000. It will play very important role in actual estimation and forecasting ofthe cost on the basis of the project plan (Andersen, Dysvik and Vaagaasar, 2009). Developmentof project budget is as follows:Table 1: Budget for launching new product of DropBox in UK marketDataYearQuarterWeekCostBaseline Cost2016Q2Week 250800Week 260400Q2 Total01200Q3Week 273560560Week 281920720Week 293200520Week 304000400Week 312800560Week 322000400Week 332760320Week 341800400Week 351960400Week 362000400Week 372000720Week 384000800Week 392680480Q3 Total346806680Q4Week 401840400Week 412000400Week 422000400Week 433600680Week 442800520Week 452800560Q4 Total1504029603| P a g e
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