Project Management for City Towers

Running Head: PROJECT MANAGEMENT
SIM335: Managing Project
Name of the Student
Name of the University

1PROJECT MANAGEMENT
Table of Contents
Task 1...............................................................................................................................................2
Characteristics of Project.............................................................................................................2
Scope Statement...........................................................................................................................3
Gantt Chart and Critical Path.......................................................................................................3
Development of Project Budget...................................................................................................4
Responses to Risk in Project Management..................................................................................4
Quality Methods..........................................................................................................................5
Task 2...............................................................................................................................................6
2.1 Introduction............................................................................................................................6
2.2 Project Scope and Objectives................................................................................................6
2.3 Project Life Cycle..................................................................................................................7
2.4 Project Timeline.....................................................................................................................7
2.5 Required Personnel and Necessary Skills............................................................................11
2.6 Project Budget.....................................................................................................................12
2.7 Administration and Control Problems.................................................................................16
2.8 Conclusion...........................................................................................................................16
Bibliography..................................................................................................................................17
Appendices....................................................................................................................................19
Appendix 1: WBS of the City Towers Project..........................................................................19
Appendix 2: Gantt Chart of the City Towers Project................................................................20

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Task 1
Characteristics of Project
There are six main characteristics of a project. These characteristics are discussed as
follows.
Characteristic 1 – Generally, the target of a project is the client i.e. one organization
conducts a project for the benefit of another organization in exchange of return benefits (may or
may not be monetary).
Characteristic 2 – Any project, however large scale it is, is always temporary. This is
because the project has definitive start and end dates and must be completed within the specific
time period. The benefits of the project can, however, be almost permanent considering the long
term plan for the organization.
Characteristic 3 – Any project has a set of specific requirements that must be fulfilled
within the overall duration of the project.
Characteristic 4 – A project is mostly a one-time venture as in most of the cases, a
project is not repeated twice in the organization.
Characteristic 5 – A project cannot be considered as a business although it appears to be
so. The project can called as a part of improvement process that is executed for a particular
objective within the operations of an organization.
Characteristic 6 – A project can be cross-functional or even cross-organizational
depending on the type, objective and nature.

3PROJECT MANAGEMENT
Scope Statement
A scope statement of a project is defined as a summarized and brief statement that
defines the boundary or limit of a project. When a project scope statement is defined, it should be
ensured that all the project deliverables are fulfilled within the boundary as defined by the scope.
A scope statement is necessary in a project in order to ensure the management team as a
clear idea regarding the actual nature and requirement of the project. Furthermore, from the
project scope statement, other attributes of a project plan like objectives, deliverables, high level
requirements, constraints, assumptions and milestones can be determined and defined.
Gantt Chart and Critical Path
The Gantt chart is plotted as shown in the following diagram.
Figure 1: Gantt Chart of the Given Project
(Source: Created by Author)
From the Gantt chart, it is found that critical path of the project is (acf).
The total duration of the project is 11 days.

4PROJECT MANAGEMENT
Development of Project Budget
While developing a project budget, there are a number of factors that need to be
considered. These factors described as follows.
Material Costs – Depending on the nature of the project, a list of material resources need
to be developed that will be utilized during the execution of the project. After the resources are
defined, the overall costs are to be estimated from the unit costs of the materials. For example, if
the project requires 20 kg bricks, the cost should be estimated as the cost of 1 kg bricks
multiplied by 20. In some large scale projects, when the purchase of materials are done over a
long period of time (months / years), market changes are also considered during estimation of
material costs.
Human Resource Costs – The human resource costs are generally estimated using the
unit salaries of the stakeholders and other personnel involved in the project multiplied by the
amount of effort (working hours) they will provide in the project.
Other Costs including Buffer Budget – There are some miscellaneous costs that are also
included within the project. Furthermore, a buffer budget is kept (approx. 20% of the total
budget) for contingency purposes.
Responses to Risk in Project Management
There are several types of responses to risks that are chosen and applied depending on the
type and nature of the risks. These are listed as follows.
Accept – Risks are accepted and proper plan is made to ensure the risks do not have
negative impacts on the project.

5PROJECT MANAGEMENT
Mitigate – Risks are mitigated using suitable management strategies.
Avoid – Avoid facing the risks using appropriate strategies.
Transfer – Transfer the risks to a different party or personnel.
Quality Methods
Project quality methods are used in order to ensure the end product of the project fulfill
the organization’s quality standards. Project evaluation is a quality method in which the entire
project is reviewed before closing in order to identify any lack of quality in the outcome.
Monitoring and control is another method that is conducted throughout the project to ensure the
quality standards are met. Monitoring and control is the best method as it is done throughout the
course of the project without the need for additional costs of change management.