Project Management and Acquisition Process

The assignment analyzes the use of various project management tools and techniques, such as budgeting and scope management, in a real-world scenario involving the acquisition of companies. It provides insights into how these techniques can be applied to ensure successful project execution and outcomes.

Managing Projects

Table of Contents
TASK 1............................................................................................................................................1
1) Key characteristics of the project............................................................................................1
2) Scope of the project and Work breakdown Structure (WBS) for it........................................1
3) Gantt Chart and identification of critical path.........................................................................1
4) Approaches to initiate a budget...............................................................................................4
5) Rise of project risk and various responses to it.......................................................................5
6) Implementation of quality control methods on the project.....................................................6
TASK 2............................................................................................................................................7
Executive summary.....................................................................................................................7
Introduction..................................................................................................................................7
Work breakdown Structure..........................................................................................................7
Project Budget.............................................................................................................................8
Gantt Chart...................................................................................................................................9
Skills and competencies of Project Manager.............................................................................13
Project Scope Statement............................................................................................................13
Phases of project management...................................................................................................13
Conclusion.................................................................................................................................16
REFERENCES..............................................................................................................................17

TASK 1
1) Key characteristics of the project
The present project discusses regarding ABC which has been able to has a successful mergers and acquisitions. It has already
been able to bring various brands into control. ABC is now planning to acquire DEF Ltd. which is the frozen food retailer and have
variety of outlets in all major cities and town of UK. The responsibility of handling acquisition is given to John, where he is
responsible for handling acquisition project management function with the help of external consultants. In order to proceed with this
project management, it is required to indulge in to planning, implementation and termination of this acquisition project. It will help in
ensuring that project is initiated in effective manner which will thereby result in withdrawing successful profitability through it (Bassi
and et.al., 2017).
2) Scope of the project and Work breakdown Structure (WBS) for it
The scope of the project is quitter wide as ABC is planning to enhance its area by acquiring an organization which deals in
frozen food. It will help in enhancing the profitability and market share aspects of ABC ltd. Scope of the project helps in creating
unique deliverables by preparing specific as well as achievable aim and objectives of the project. It helps in understanding the
boundaries of project and analyse the role of stakeholders in each and every step.
Work breakdown structure is one of the key project deliverable that helps in organizing work of the team into various
manageable sections (Eskerod, Huemann and Savage, 2015). It is required to be executed by project team so as to have maximum
amount of profitability out of it.
3) Gantt Chart and identification of critical path
Task
Mode Task Name Duration Start Finish Predecessors WBS
Auto
Scheduled Task A 5 days Wed 13-06-
18 Tue 19-06-18 1
Auto
Scheduled Task B 4 days Wed 20-06-
18
Mon 25-06-
18 1 2
1

Auto
Scheduled Task C 2 days Tue 26-06-18 Wed 27-06-
18 2 3
Auto
Scheduled Task D 3 days Tue 26-06-18 Thu 28-06-18 2 4
Auto
Scheduled Task E 5 days Thu 28-06-18 Wed 04-07-
18 3 5
Auto
Scheduled Task F 7 days Fri 29-06-18 Mon 09-07-
18 4 6
Tasks 1 2 3 4 3 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22
Task A
Task B
Task C
Task D
Task E
Task F
2

3

Critical Path for above project includes, Task A, task B, Task D and Task F.
Hence Total critical durations of the project = Task A+ Task B + Task D + Task F
Total duration of project = 5 + 4 + 3 + 7
= 19 days
The above network diagram shows that it is required for the project manager to invest 19 days to bring the project to closure. It
indicates that it is the longest path which will take shortest duration to complete the tasks that are being mentioned. It also indicates
that Task A, Task B, Task D and Task F are not replaceable in nature and hence can not be skipped.
4) Approaches to initiate a budget
Researchers have stated that project budgeting is one of the most important aspect when opting for any type of project. It is the
financial aspect that is attached to it which ultimately helps in determining overall feasibility of the project ad assess cost benefit ratio
attached to it as well. It also has greater emphasis on estimates of cost which can help in planning expenditure aspect also ( Lyapina
and et.al., 2017). There are various elements that are required to be taken into consideration. These can be in the form of following:
Direct Cost
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 Labour
 Material
 Travel expenses
 Training program
Indirect Cost
 Office and general administration expenses
 Communication expenses
 Insurance charges
Considering these expenses, while preparing budget, helps in analysing various types of risks that are involved in the project.
Further, estimated expenses can be decided based on it.
5) Rise of project risk and various responses to it
A unique aspect of the project which not be directly related to it but have adequate role in deciding successful implementation is
related to leadership and administration. Further, analysing these issues helps in deciding that whether project will appropriately be
implemented or not. Risks in the project are also identified so as to ensure that all the important aspects are taken into consideration
and there is no existence of any negative impact on overall outcomes of the project. There can be various types of risks in the project.
These are, risk of scope, which may occur due to addition of new requirements in the project. Another risk is related to scheduling
which is related to error in estimation and unidentified delays (Bresnen, 2016). Resource risk is another type of risk involved in the
project where the team may not be able to manage essential resources to serve the requirements of project. In the end, technological
risk can also be faced which may arise due to machinery or computer system defects.
The team can manage these risks by preparing better project management report and considering all the important aspects that
are related to it. Risk can also be transferred to third party so that it can be handled effectively.
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6) Implementation of quality control methods on the project
Quality plays a significant role in project management as it helps in ensuring that appropriate deliverables are ultimately achieved
by the team. There are various tools and techniques that are used to measure and corrective actions that can be taken by the team for
effective output. It also helps in ensuring that the ultimate quality of deliverables is able to meet expectations of the team. Some of
these methods are mentioned as follows: Trend monitoring: It helps in matching estimated cos, resources and schedules with the of actual ones. Documentation control: It assist in finding out that which all documents and information are important so as to reach to relevant
as well as decided outcomes. Acquisition: It plays substantial role in process of acquisition of project equipment, which are in the form of raw material and
other related resources (Calvo-Mora, Navarro-García and Periañez-Cristobal, 2015). Specification control: It helps in preparing review of deliverables which helps in analysing that whether quality requirements are
being met or not.
Some important quality control tools are, check sheets, control charts, work flow chart and inspection.
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TASK 2
Executive summary
The main aim of this project is to smoothen the process of acquisition. In the present scenario, ABC Ltd. is planning to acquire
DEF Ltd which will help in enhancing overall scope of the business. Hence, operational analysis will be conducted so as to ensure that
project can be implemented in a well-defined manner. Project management have discussed regarding budget of the project,
communication plan and various phases of underlying project initiated by ABC Ltd. These five phases of project are, Initiating,
Planning, Executing, Monitoring and Controlling and Closing. There are various tools and techniques that are used by project
managers for its effective implementation. These are, scope, cost and schedule which hold adequate amount of relevance in project
management.
Introduction
Project management plays an important role in finding out that whether overall project will be able to deliver as per its
objectives and desired outcomes or not. The present report aims at analysing acquisition project which is taking place between ABC
Ltd and DEF Ltd. The report makes an assessment of Work breakdown Structure (WBS) and Gantt Chart which include all the
activities. The overall framework of project management inclusive of all the elements will be included in it. These are, Initiating,
Planning, Executing, Monitoring and Controlling and Closing.
Work breakdown Structure
Work breakdown structure helps in allocating expected time which will help in completing all the deliverables related to project.
It is considered to be one of the key basis based on which overall project is designed. Further, it plays a substantial role in achieving
overall objectives of the project being framed by the project manager also. Work breakdown Structure for the particular project has
been prepared as follows:
Deliverables Task Name Completion time
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Deliverable 1 Pre-Initiating phase 15
Deliverable 2 Project feasibility phase 13
Deliverable 3 Initiating project phase 4
Deliverable 4 Planning phase 28
Deliverable 5 Execution 5
Deliverable 6 Monitoring and controlling phase 11
Deliverable 7 Closing 2
Project Budget
Particulars Amount ( In GBP )
Working space 1500
Land and building 2500
Purchase of machinery 2000
Equipment cost 2000
Freezers 1000
Cost of machinery 800
Human resource salary 2000
Labour 1000
Material 2500
Training and development 3000
Travel and transportation 2000
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Total 20,300
There are various objectives that have been considered while preparing the above budget. Some of them are mentioned below:
 To finish off the project within budgetary monetary limit, that is of 20,300 and all the functions which require certain monetary
transactions can be considered.
 To bring acquisition in the best possible manner that can help in initiating adequate profitability in the company.
 To monitor all departments, that are, Finance, HR, Operations, Sales, etc.
 To generate numerous performance reports so as to initiate effective functioning.
Gantt Chart
Task
Mode Task Name Duration Start Finish Predecessors
Task A Collecting data 12 days Mon 18-06-
18 Tue 03-07-18
Task B preparing overall design
of the project 10 days Wed 04-07-
18 Tue 17-07-18 1
Task C Getting approval from
concerned authorities 8 days Wed 18-07-
18 Fri 27-07-18 2
Task D Meeting project team
involved 7 days Mon 30-07-
18 Tue 07-08-18 3
Task E
Communicating overall
development to
stakeholders
5 days Mon 30-07-
18 Fri 03-08-18 3
Task F Contracting to suppliers 6 days Mon 06-08-
18
Mon 13-08-
18 5
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Task G Developing budget and
allocating resources 6 days Tue 14-08-18 Tue 21-08-18 5,6
Task H Allocating responsibilities
to team members 5 days Wed 22-08-
18 Tue 28-08-18 7
Task I
Organizing training and
development for
workforce
10 days Wed 29-08-
18 Tue 11-09-18 8
Task J Overall review of the
project 4 days Wed 12-09-
18
Mon 17-09-
18 9
10

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From the above diagram critical path can be calculated in the following two manners:
First duration of critical path = Task A + Task B + Task C + Task E + Task F + Task G + Task H + Task I + Task J
= 12 + 10 + 8 + 5 + 6 + 6 + 5 + 10 + 4
= 66 Days
Second duration of critical path = Task A + Task B + Task C + Task E + Task G + Task H + Task I + Task J
= 12 + 10 + 8 + 5 + 6 + 5 + 10 + 4
= 60 Days
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From the above Critical path, it can be analysed that overall 73 days will be required to conduct all the task that are required to
complete the overall project. Further, it can be ascertained that critical path value, which is the longest path of completing the project
with minimum duration required to complete the task is 66 days will be required. It will help in reaching to closing point of the
project.
Skills and competencies of Project Manager
It is usual that a project manager has to get involved in cross functional activities as well. Skills possessed by project manager
must suit to skills and competencies so that teams and their functions can appropriately be managed by him / her. It also helps in
ensuring that all the resources of projects are appropriately being utilized in the project (Eskerod, Huemann and Savage, 2015).
The project manager must have the qualities of preparing vision, integrity, empathy and qualities of sound leadership. He must
also carry strong interpersonal as well as communication skills reflecting managerial skills as well. He must have the ability to
delegate responsibilities and solve issues that may arise in the business while initiating acquisition. The individual must also carry
motivational abilities so that his team can always be kept encouraged and decisions can be made and issues can be sort out promptly.
Project Scope Statement
It is inclusive of all the deliverables that are required to be accomplished by project team at the time of completion of project
(Layton and Ostermiller, 2017). It helps in defining what is to be performed and what not to be considered by setting up certain project
boundaries, time scale for timely completion of the project. Other aspects that are defined in this area is associated costs, acceptance
criteria and budget as well. It helps in eliminating all the doubts that may be carried by people in the team with respect to tasks of the
project. Activities that are required to be avoided are also required to be mentioned in the project report while defining scope
statement in it. Adequate changes can be brought in scope statement of project during its implementation.
Phases of project management
There are certain phases of project management which are required to be followed by ABC Ltd, while issuing acquisition project
of DEF Ltd. These management stages are:
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 Initiating
 Planning
 Executing
 Monitoring
 Controlling and Closing
Project initiation phase
This stage helps in defining aim and objectives of the project by mentioning initial scope. Project sponsors ca n be decided by
DEF Ltd. It helps in setting out the vision for which plan is initiated to be prepared so that ultimate objectives can be accomplished. It
also plays an important role in finding out how feasible the objective is and whether it will be achieved in set time frame or not
(McCormick, 2018).
Planning phase
It is one of the most important aspect of project management where project management plan is created. It helps in setting out
phases where all the necessary resources are ascertained and gathered so that it does not create any obstacle in implementation of
project. The plan also helps in mentioning scope, cost and schedule of the project for better definition. The plan also comprehensively
discusses regarding quality, communication, duration, resources and risk that can help in drawing out effective results out of it
(Pollack and Adler, 2015). Common tools and methods that are taken into consideration in it include, milestone, budget, WBS,
estimation of resource planning, planning and communication dates and Gantt Chart. All the planning activities are prepared based on
interest and requirements of the stakeholders. In this scenario, plan for ABC Ltd., while initiating acquisition of DEF Ltd. can have the
following stages:
 Financial plan: Since, acquisition will increase overall scope of the business finance can be required to initiated purchase of land
and building and machinery so as to serve overall purpose. The total financial budget allotted for the present project is 20,300 Resource plan: certain equipment and labour will be required by ABC Ltd so as to initiate effective implementation.
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 Risk plan: Risk management plan is also required to be prepared by project manager based on all the identified risks which are
foreseeable in nature and require response actions to eliminate it impact. Staffing plan: There is no requirement of hiring any staff as while performing acquisition all the employees of DEF Ltd can also
be absorbed (Vidaud-Barral, Tacnet and Pinet, 2016). Communication plan: Bottom up communication approach will be followed by companies after performing acquisition so as to
ensure that top level management is not overburdened.
Project Execution phase
At this stage of project, deliverables are implemented that has already prepared in planning phase. It is important that the
roadmap prepared is followed by the team for its effective execution. It also helps in determining overall success and failure of the
project. It is considered to be an important state where teams are divided which analyse that whether the project will be a success or
failure. It also aims at ensuring overall product range that will be offered by ABC Ltd, after acquiring DEF. Merge of departments is
also an important aspect that will be initiated. It will help in ensuring all the roles and responsibilities are appropriately being divided
and proper working atmosphere has been created.
Monitoring and controlling phase
All the activities that have been implemented and executed are then monitored and controlled so as to analyse that effective
outcomes are being generated out of it. In this process, steps, such as, tracking reviewing and benchmarking has been initiated by the
project manager (Ika, 2015). The main elements that are considered during this phase are, risks, finances and scope. Controlling
aspects related to changing and managing measures can also be taken into consideration for review management. Communication
control measure is another aspect to be analysed with necessary security safeguards.
Closing
It is the step where the process is brought to closure after completion of all the aspects. It can only be closed when the
outcomes are being accepted by the client, which is indicated as a sign off. The closure aspect is helps in defining the activities in such
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a manner that overall aim and objectives of the project can ultimately be attained effectively (Pollack and Adler, 2015). There are
various elements that are included in final phase of the project. These are, final audit of the project and closing contract. After
considering all execution and controlling aspect and final submission inclusive of historical evidence and form a guide for future
projects also (Successful deployment of the first SAP ERP project in Myanmar, 2016).
Conclusion
It can be concluded from the above report that, all the tools and techniques related to budget and scope have appropriately being
analysed in the project. It is expected that this acquisition process will prove to be successful for both the companies, that are, ABC
Ltd and DEF Ltd.
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REFERENCES
Books and Journals
Bassi, A. and et.al., 2017. Criteria and Factors in the Succes of Projects and their Management–Survey by Swiss Companies. In
Management Challenges in a Network Economy: Proceedings of the MakeLearn and TIIM International Conference 2017 (pp.
119-134). ToKnowPress.
Bresnen, M., 2016. Institutional development, divergence and change in the discipline of project management. International journal
of project management. 34(2). pp.328-338.
Calvo-Mora, A., Navarro-García, A. and Periañez-Cristobal, R., 2015. Project to improve knowledge management and key business
results through the EFQM excellence model. International Journal of Project Management. 33(8). pp.1638-1651.
Eskerod, P., Huemann, M. and Savage, G., 2015. Project stakeholder management—past and present. Project Management Journal.
46(6). pp.6-14.
Eskerod, P., Huemann, M. and Savage, G., 2015. Project stakeholder management—past and present. Project Management Journal.
46(6). pp.6-14.
Ika, L.A., 2015. Opening the black box of project management: Does World Bank project supervision influence project impact?.
International Journal of Project Management. 33(5). pp.1111-1123.
Layton, M.C. and Ostermiller, S.J., 2017. Agile project management for dummies. John Wiley & Sons.
Lyapina, I. and et.al., 2017. Approaches to Organization of Project Management in Russia. In Integration and Clustering for
Sustainable Economic Growth (pp. 91-99). Springer, Cham.
McCormick, K., 2018. Using Rapid Cycle Quality Improvement to Improve Weight Managment in Primary Care.
Pollack, J. and Adler, D., 2015. Emergent trends and passing fads in project management research: A scientometric analysis of
changes in the field. International Journal of Project Management. 33(1). pp.236-248.
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Pollack, J. and Adler, D., 2015. Emergent trends and passing fads in project management research: A scientometric analysis of
changes in the field. International Journal of Project Management. 33(1). pp.236-248.
Vidaud-Barral, L., Tacnet, J. M. and Pinet, F., 2016. Modeling information quality and traceability in risk management and decision
processes: Application to mountain natural hazards. Risk, Reliability and Safety: Innovating Theory and Practice: Proceedings
of ESREL 2016 (Glasgow, Scotland, 25-29 September 2016). pp.276.
Online
Successful deployment of the first SAP ERP project in Myanmar, 2016. [Online] Available through:
<https://tech.fpt.com.vn/language/en/successful-deployment-of-the-first-sap-erp-project-in-myanmar/>.
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