Importance of Project Management - Essay
Added on -2020-07-23
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Management of Projects
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Project characteristics.........................................................................................................12. Explain scope statement of project and significance of it..................................................23. Produce Gantt chart and carry out the critical path............................................................24. Facts to be consider when preparing budget of project......................................................25. Various responses to risk....................................................................................................36. Defining quality methods...................................................................................................3TASK 2............................................................................................................................................3Producing report to Senior Management of Company...........................................................3CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................9
INTRODUCTIONProject management is important task which lies in the hands of project manager so thattasks can be accomplished within time frame. The present report deals with importance ofproject management and deals with company named Hotel Communications Ltd which is givenconstruction opportunity in IT services in new hotel located in London. The senior managementis entitled to receive much needed information as it lacks in accomplishment of large projects.Moreover, various stages of project life cycle is discussed and characteristics of project isdiscussed as well. Furthermore, project scope statement is essential document for companylisting tasks to be accomplished within time.TASK 11. Project characteristicsThe characteristics of project are as follows-1. Temporary course of action-Project undertaken by management has finite start and end as well. No project iseverlasting, it is temporary in nature. At the start of project, idea is evolved and developed and atthe end, project is successfully completed as objectives are attained.2. Meant to deliver-Every project which is undertaken by the business aims to deliver something. It can beproduct, service or something else. The main characteristics of project is that need for thedeliverables are identified and as a result, project is initiated (What Is A Project? – DefinitionAnd Key Characteristics, 2010).3. Scarce resources-The business has scarce or limited resources and as such, it is required that organisationshould analysed the need of such project. By analysing it, project is implemented with limitedresources so that it may be cost effective for organisation and optimum utilisation is done quiteeffectively.1
4. Planned-Project when it is initiated is planned first so that project can be properly defined andoutcome of it can be assessed as well. For such planning of project, a statement known as projectscope statement is usually prepared which provides clarity about how project will be successfullycompleted and objectives will be met considering various constraints as well. 5. Interrelated tasks-Main characteristics of the project is that it has series of interrelated tasks which are to becompleted within stipulated time frame. These tasks include cost of project, quality and effectiveperformance and many other tasks (Smyth, 2016).2. Explain scope statement of project and significance of itProject scope statement is essential statement which provides preliminary informationregarding the project to be consider such as project objectives, outcome of it, justification, costobjectives, schedule objectives, constraints and assumptions. These elements are useful toanalyse so that project may be successful completed. The significance of project scope statementis provides project commitments which are to be fulfilled by organisation so that it can at leastpredict future and as such, expectations from project can be successfully analysed. Also, in theevent of any change, project scope statement needs to be updated quite effectively. It isimportant document for managing expectations of stakeholders.3. Produce Gantt chart and carry out the critical path1.Critical pathIllustration 1: Critical path2.Gantt chart2
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