Project Management Research Assignment

Project Management

Table of Contents
SECTION 1: PURPOSE OF THE PROJECT ................................................................................5
1.1 Introduction .....................................................................................................................5
1.2 Purpose of the project.......................................................................................................5
1.3 Benchmark........................................................................................................................5
1.4 Project plan.......................................................................................................................5
1.5 Benefits of the project plan ..............................................................................................5
1.6 Limitations of project plan...............................................................................................6
1.7 Application.......................................................................................................................6
1.8 Project scope ....................................................................................................................6
1.9 Benefits of scope .............................................................................................................6
1.10 Limitations of scope ......................................................................................................6
1.11 Application.....................................................................................................................7
1.12 Conclusion .....................................................................................................................7
SECTION 2: ANALYSIS OF THE BUSINESS ENVIRONMENT ..............................................8
2.1 Introduction .....................................................................................................................8
2.2 PESTLE analysis..............................................................................................................8
2.3 Benchmark British Petroleum PESTLE analysis.............................................................8
2.4 Benefits of PESTLE analysis ........................................................................................10
2.5 Limitations of PESTLE analysis....................................................................................10
2.6 Application ....................................................................................................................10
2.7 Information/ research .....................................................................................................11
2.8 Benefits of information/ research ..................................................................................11
2.9 Limitations of information/ research .............................................................................11
2.10 Application ..................................................................................................................11
2.11 Stakeholder's analysis ..................................................................................................12
2.12 Benefits of stakeholder analysis...................................................................................12
2.13 Importance of stakeholder analysis .............................................................................12
2.14 Constrain analysis ........................................................................................................12
SECTION 3: RISK MANAGEMENT ..........................................................................................13
3.1 Introduction ...................................................................................................................13

3.2 Risk analysis and control ...............................................................................................13
3.3 Sources of risks...............................................................................................................13
3.4 Force field analysis ........................................................................................................14
3.5 Risk control ...................................................................................................................14
3.6 Risk response..................................................................................................................14
3.7 Assessment of the risk ...................................................................................................14
3.8 RACI resource ...............................................................................................................15
3.9 5 M's of management ....................................................................................................16
3.10 Application ..................................................................................................................17
SECTION 4. ROBUST COST BENEFIT ANALYSIS ...............................................................17
4.1 Introduction ...................................................................................................................17
4.2 Smart objectives ............................................................................................................17
4.3 Application ....................................................................................................................18
4.4 Cost-benefit analysis......................................................................................................18
4.5 Cost breakdown .............................................................................................................19
4.6 Project forecast ..............................................................................................................19
4.7 Return on investment .....................................................................................................19
4.8 Payback period ..............................................................................................................20
4.9 Benefit of payback period .............................................................................................20
4.10 Limitations of payback period .....................................................................................20
4.11 Break even ...................................................................................................................20
4.11 Conclusion....................................................................................................................21
SECTION 5: SCHEDULING .......................................................................................................21
5.1 Introduction ...................................................................................................................21
5.2 Work breakdown structure (WBS) ...............................................................................21
5.3 Benefits of WBS ............................................................................................................21
5.4 Gantt chart .....................................................................................................................21
5.5 Benefits of gantt chart ...................................................................................................22
5.6 Critical path ...................................................................................................................22
5.7 Project control ...............................................................................................................22
5.8 Methodology of project .................................................................................................23

5.9 Project communication plan ..........................................................................................23
SECTION 6: PROJECT TERMINATION ...................................................................................23
SECTION 7: CONCLUSION .......................................................................................................24
REFERENCES..............................................................................................................................25

Index of Tables
Table 1: Project Plan........................................................................................................................9
Table 2: Force field analysis..........................................................................................................16
Table 3: Risk assessment ..............................................................................................................17
Table 4: RACI resource.................................................................................................................18
Table 5: Cost breakdown structure................................................................................................21
Table 6: Gantt chart.......................................................................................................................24

Executive Summary
Project management includes all the tools and techniques which are used by the manager
for the completion of project. In the present report manager makes effort to assess the resources
which are required for the gas production project. For this purpose, team is formed by the
manager with 5 people. For making assessment of the viability or attractiveness of project
various measures are undertaken by the manager. In addition to this, PESTLE analysis is also
conducted by the manger by taking into account the external environment of British Petroleum as
a benchmark. From this project, it is summarized that Cardial will attain success by entering in
the gas production industry.