Managing Project

Managing Project

Contents
Introduction......................................................................................................................................3
TASK 1............................................................................................................................................3
Understand the fundamental project characteristics....................................................................3
Stakeholder analysis....................................................................................................................3
Aim of PID as well as 3 primary elements..................................................................................4
Feasibility and value of decision-making....................................................................................5
Knowledge areas related with PM...............................................................................................6
5 Project manager qualities and project termination benefit.......................................................6
Network diagram.........................................................................................................................6
TASK 2............................................................................................................................................8
Overview of the project...............................................................................................................8
Project's life cycle........................................................................................................................8
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

MAIN BODY
TASK 1
1. Understand the fundamental project characteristics
Project management refers to a critical activity used to assess, institute and analyse
project operations and procedures. Some characteristics that occur in project management are
listed below.
This is created in order to handle project tasks effectively and sustain project tasks versatility.
There is a great deal of flexibility over project practises and operations to establish project goals.
 Project requirements process consists of time-limited work that starts that handles the
planned objectives of the study.
 Different requirements and constraints need to be followed under defined limitations
which are included in the implementation of the function of projects. That's why product
lifecycle transactions should be organised.
 In the specified time frame and under the explicitly defined schedule all project activities
must be carried out. (Nachbagauer and Schirl-Boeck, 2019).
1 b Stakeholder analysis
The entity with an interest in the success and responsibility that can be taken out by or carried
out by a company is alluded to as the stockholder. You have a certain stake in the progress of a
project that sponsors the project in or outside the business. The aim is listed below for
stakeholder management:
• To achieve coordination of plans and priorities among shareholders. It helps to see better how
progress is going to be and what their contribution is going to be.
• In the early stages of coping with challenges or disputes, a reshuffle pertaining to the initiative
would be avoided.
Stakeholders are vital assets inside the progress of the project that ensures that they are good
backers and will bring the project into form (Prantl, 2020). It will bring their to also have
acceptance and also encouragement from differentiated kinds of factors and makes it easier to
provide their services.

2. Aim of PID as well as 3 primary elements
PID incorporates various facets of PM that play a critical role in the context of individual
tasks. It contains different information and specifics consistent with the project timetable. An
executive / manager of a project will perform numerous roles and responsibilities involved in the
project delivery. There is a need for multiple changes within a company to function properly and
conduct successful tasks. Any of the following PID variables are as described:
 Declaration of Project Scope: The Pandemic Centre project is consistent with the
expectations and targets of an organisation. This initiative should be reached as
communication between administrations as well as the employee can be easy to establish
as even the Pandemic Centre has a Cctv system as well as a modern meeting room.
 Budget: The budget is linked with this initiative in both non-financial and also financial
activities. For a project management, it is very important to concentrate on deadlines and
financing for project activities that can be carried out in the allocated project.
 Quality management process: Which relies on the quality control procedures of the
project. This includes project execution, review and reporting. Plan procedures are very
necessary to monitor and ensure they are carried out within the specified amount of time.
3. Feasibility and value of decision-making
Feasibility analysis refers to a process in which viability of the proposal is tested with a view to
guaranteeing project-related fiscal, technological and legal rationale. The following five things
can be verified: fiscal, technological, planning, legal and functional. In decision-making, this will
allow people to make sure if they invest money in the venture or not. This allows us to see that
the strategies and priorities they have developed are fulfilled or not.
4. Knowledge areas related with PM
That include project scope management, delivery management, time cycle management,
managing the cost, quality performance management, improvement of existing HR capital, risk-
based planning , management of communications, particularly budgetary control.
 Plan Quality Management: This helps meet goals and objectives efficiently and increases
customer loyalty. This has to do with buying goods and project execution under defined
deadlines.