Managing Operations & Projects

This guide provides insights into managing operations and projects. It covers project overview, cost management, time management, risk management, and communication management. Learn about the role of a project manager and the importance of effective planning and coordination. Suitable for students studying operations and project management.

Managing Operations &
Projects

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
1. Project overview/scope............................................................................................................3
2. The project cost management..................................................................................................4
3. The project time management..................................................................................................6
4. The project risk management...................................................................................................8
5. The project communication management................................................................................8
CONCLUSION................................................................................................................................9
REFERENCES................................................................................................................................1

INTRODUCTION
The companies in order to manage diverse operations require the role of project manager
to plan out the whole scenario systematically. Managing a project involves seeking the relevant
data, conduct comprehensive planning, organising and controlling the actions in order to
accomplish the objective of projects (Artto, Ahola and Vartiainen, 2016). To better define
comprehensive project planning Bloomsbury Institute has been selected which encourage the
participation of project manager in order to organise three days induction event. The purpose of
managing is to welcome intake of next academic year. This project plan cover the overview and
scope on project, cost management practices, risk management technique as well as project
communication management.
MAIN BODY
1. Project overview/scope
Project overview refers to the brief of overall project which need to be preciously
understand by the clients or other parties before seeking out any detail. The overview of whole
project need to be concise as it helps in generating the clarity which leads in making effective
decision. It is beneficial for the representatives of Bloomsbury Institute to gain deep insights that
leads to effectively organising three day induction event at wider scale. The scope of designing
whole project is to effectively execute all the sequential activities effectively. Wide emphasize is
given in the detail of whole process like determine suitable venue, design the conference hall,
prepare speeches to welcome upcoming students and their guardians (Brady and Davies, 2014).
Proper organising of events influences the effort of student to effectively perform the activities in
upcoming years. Primary objective of this three day event is to enlighten the new intake about
their institution, courses, professors as well as guidelines to perform effectively throughout their
academic year.
Some of the constraints to plan and carry out project involves deciding the venue that
have adequate capacity to assemble the students along with their guardians. Predicting the total
number of participants and accordingly decide the accommodation arrangement. Along with that
allocate time for running different activities are some hurdles to effectively organise the event.
Work Breakdown Structure refers to hierarchical decomposition of whole work into
smaller subsets or elements which helps in better scheduling the work. This is manageable

section that helps to effectively organise team work and makes it easier for project manager to
schedule the activities significantly. Based on WBS structure Bloomsbury Institute can
breakdown complex tasks into simpler ones for better execution of activities. This helps to
reduce the complication and carry out overall performance effectively. The representation of
WBS structure to effectively present the event is designed below:
2. The project cost management
Cost management refers to the process of planning, estimating as well as control
expenditure associated with operations in terms to manage the project successfully. It is the
responsibility of managers as well as organiser to predict overall expenditure in advance to
mitigate the situation of going over budget. In relation to Bloomsbury Institute all the cost of
project are identified within planning stage and gets approval to commence the work effectively.
It involve preparation of budget that help to manage the resources, facilities as well as financial
capability by deriving out desirable output.
Budgeting is considered as a valuable practice that helps to prepare the project as well as
manage the expenditure of company. It encompasses the preparation of formal plan that is used
to effectively manage overall performance (Basu, 2017). The budget plan can help Bloomsbury
Institute to effectively organising the event by avoiding unnecessary expenditure and effective
manage the overall activities within desirable amount. To carry out induction programme
institute have decided to allocate £ 82500 on overall activities. Thus, it is the responsibility of
project manager to consider prevailing value and accordingly carry out actions to effective
acknowledge the requirements of new intake. Thus, preparation of budget for three day event is
presented below:
Particulars Amount (In £ )
Event Venue 17500
Stage formation 8000
Print flyer for publicity 7500
Send email reminder 3500
Decorations 10000
Registration 4000

Arrange speaker 13000
Arrange catering 12000
Utility expenditure 1500
Security 1500
Miscellaneous expenditure 4000
Total 82500
Cost baseline is an essential indicator which is used to determine the handling of funds
which was predicted as forecasted cost and used ion the implementation of project. These cost
are allocated by Bloomsbury institution in different activities like monitoring, computing and
controlling of cost for specific duration. This helps to analyse the information and business
performance on regular basis based on which essential modifications can also be promptly made
(MacCormack and Mishra, 2015). Thus, cost baseline helps in allocation of expenditure in due
coarse of time to reduce the chances of gap and meet standard performance effectively:
Particulars I II III Total
Event venue 5000 5500 7000 17500
Stage
formation
3000 3000 2000 8000
Print flyer for
publicity
3000 2500 2000 7500
Send email
reminder
1000 1000 1500 3500
Decorations 3000 4000 3000 10000
Registration 2000 1000 1000 4000
Arrange
speaker
5000 4000 4000 13000
Arrange 5000 3000 4000 12000

catering
Utility
expenditure
500 500 500 1500
Security 700 300 500 1500
Miscellaneous
expenditure
1500 500 2000 4000
Total 29700 25300 27500 82500
3. The project time management
Project time management determines that adequate time needs to be allocated for diverse
activities of project in order to successfully complete the task. Each project has its own end date
due to which it is the responsibility of project manager to effective allocate the time in order to
bring out effectiveness and successfully increase overall productivity. This helps to bring out
specialisation by ascertaining the performance of an organisation successfully (Matinheikki and
et.al., 2016). The project manager of Bloomsbury Institution can use different tools like Gantt
chart which helps to break down task into different activities for which specific time is allocated.
Thus, it is considered as a significant activity that help to focus on diverse activities effectively.
Gantt chart: It is used to illustrate or schedule different tasks as well as activities in
sequential order to whom particular time duration is allocated. The tasks which is going to be
carried out by Bloomsbury Institute is articulated in graphical representation which display the
starting as well as end time of each and every activity. Application of such activities simplify the
task and responsibilities for both manager as well as team member and produce significant result.

Network diagram: This diagram is used as a visual representation that help to schedule
the whole project by tracking the activities on the basis of their starting and finish timings. As the
actions are performed in sequential manner due to which down size arrows or nodes is used to
depict the activities which needs to be performed in an event. It signifies that all the tasks and
responsibilities of workforce are conducted in graphical manner to successfully attain the scope
of designing the project. Herein, Bloomsbury Institute the project managers can access network
diagram in order to schedule out their task, sequencing the work or responsibility and track the
progress of event on the basis predetermined indicator which is initiation to completion duration.
Presentation of network diagram for three days academic event is designed below:

Critical path analysis: This project management technique is required by manager to
successfully map out essential tasks which function in successful completion of project. Value is
given to time indicator on the basis of which activities are performed for confined time internal.
This is primarily applied by Bloomsbury Institute in order to set out realistic deadlines which
acts as a target on the basis of which different tasks are performed progressively. This is a useful
way which is practised by administrator in order to timely manage the actions and maintain co-
ordination which leads to successful performance of activities (Smith, Merna and Jobling,
2014). The representation of critical path analysis is presented below:
4. The project risk management
The role of Project risk management is to cautiously perform the diverse task with the
objective to mitigate the chances of risk that can adversely affect the planning process. There are
certain risk that can occur at the time of organising event like technical issue, time
mismanagement, sudden rise in visitor. So there needs to be the successive availability of the
human and financial resources (Swink and et.al., 2017). It is the responsibility of the manager to
anticipate any difficulties which can arise during the tenure of this three day event. Certain tools
like Delphi method can helps to examine the root cause of problem which may arise in future
and affect induction program. Therefore, it is necessary that the organiser needs to have
availability of alternative plan based on which initiatives can be taken to successfully
accommodate the situation.
Risk matrix is used to access different level of risk which is overviewed by manager and
set out diverse category. The manager of Bloomsbury institute uses this matrix to analyse the
unfavourable event and predetermine successful indicators that can effective overcome
misleading circumstances. For instance, to deal with high visitor the institute should have the
available of desirable caterers. Therefore, such practices helps to effectively overcome the
unforeseen situation by taking favourable measures successfully.

5. The project communication management
Maintaining effective communication is an essential part of any project that helps to gain
success. Project communication management involve the activities like planning, collection of
data, creation of information, retrieval as well as management of project information. The project
manager carry out timely conversation with different parties like team member as well as project
stakeholder on timely basis. It involves the contribution of the administrator that are part of
Bloomsbury institutes and external speaker or caterer. Contribution of overall member through
effective communication medium like video conferencing, conducting face to face meeting,
email method and many more can be used to effectively organised the event in late September.
Thus, it leads to carry out effective exchange of information for the success of project.
Presentation of stakeholder matrix for academic event is displayed below:
Level of interest
(High )
Level of interest
(Low)
Level of power (High) Management Government
Level of power
(Low)
Staff members Customers
High power and high interest: Managers and Board of directors pertains within this
category as they highly remain functional and have authority to make effective decision and
suitably organising event.
High power and low interest: Government is a part of this section as in case of absence
of legal practices and obligation of regulation they have authority to interfere the performance.
Low power and high interest: Employees or staff members possess low power as they
are required to abide by allocated task.
Low power and low interest: Customer are one of the most essential stakeholders that
helps to generate the profitability for institute by attending the event to carry out successful
academic information.
Application of policy driven approach helps in providing necessary information to the
stakeholder. It involve the elements like audience, message, channel of transition, delivery
methods and so on (Thamhain, 2014). This can help Bloomsbury Institute to avoid the chances

of obstacle by preparing action plan and transferring information amongst new intake to carry
out successful induction programme.
CONCLUSION
From the above report it has been determined that project manager plays comprehensive
role in terms to effectively plan out the activities as well as operations of an organisation. To
attain the objective an event is classified into different categories or activities which is
breakdown into simpler activities and needs to be effectively practised for successfully
functioning. Project manager along with their team members prepares the budget that needs to
be accompanied by diverse functional area in order to reduce unnecessary expenditure and carry
out task to attain standard performance. Further, the time and risk associated with project is
effectively managed in order to generate favourable result.

REFERENCES
Books and journal
Artto, K., Ahola, T. and Vartiainen, V., 2016. From the front end of projects to the back end of
operations: Managing projects for value creation throughout the system lifecycle.
International Journal of Project Management. 34(2). pp.258-270.
Basu, R., 2017. Managing quality in projects. Routledge.
Brady, T. and Davies, A., 2014. Managing structural and dynamic complexity: A tale of two
projects. Project Management Journal. 45(4). pp.21-38.
MacCormack, A. and Mishra, A., 2015. Managing the performance trade‐offs from partner
integration: Implications of contract choice in R&D projects. Production and
Operations Management. 24(10). pp.1552-1569.
Matinheikki, J., and et.al., 2016. Managing inter-organizational networks for value creation in
the front-end of projects. International Journal of Project Management. 34(7). pp.1226-
1241.
Smith, N. J., Merna, T. and Jobling, P., 2014. Managing risk in construction projects. John
Wiley & Sons.
Swink, M., and et.al., 2017. Managing operations across the supply chain. New York, NY:
McGraw-Hill Education.
Thamhain, H. J., 2014. Managing technology-based projects: Tools, techniques, people and
business processes. John Wiley & Sons.
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