Managing Projects

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................
TASK 1............................................................................................................................................
1. Key characteristics of any project............................................................................................
1b. Importance of integration management in Project Management setting...............................
2. Scope Statement for a project along with role of WBS in such a statement...........................
3. Approaches to generate a budget for a specific project budget...............................................
4. Project risks and responses to overcome risks within project management settings...............
5. Quality methods to ensure successful project completion.......................................................
6. Gantt Chart...............................................................................................................................
TASK 2............................................................................................................................................
Overview of project.....................................................................................................................
Project life cycle stages...............................................................................................................
Initiation.......................................................................................................................................
Planning.......................................................................................................................................
Objectives....................................................................................................................................
Timescale.....................................................................................................................................
Budget..........................................................................................................................................
Approaches..................................................................................................................................
Key Staff......................................................................................................................................
Execution.....................................................................................................................................
Work break structure...................................................................................................................
Control.......................................................................................................................................
Closure.......................................................................................................................................
CONCLUSION..............................................................................................................................
REFERENCES..............................................................................................................................

INTRODUCTION
Project management is explained as the process of performing any of the specific work
which involved high level of initiation, planning, implementation and controlling. It is
necessary that in any of the project proper planning must be done so that all of the work can
be executed in well manner through which goals can also be accomplished easily. In simple
words, managing project says that proper analysis must be done on any of the specific topic
so that different types of trouble which may occur can be removed. The current report is
based on two different task, where first task will discuss about different topics which can be
useful for the purpose conducting any of the project. On the other side, second task will have
a detail discussion on Project Xperts-20 (PX20) where they will work for Sunderland London
College. The main aim of the company is to work in three different floor where they will look
for library, lecture theatres and many more. In order to perform task in systematic manner,
company will have to take the help of different stage such as Initiation, planning, execution,
controlling as well as Closing of the project.
TASK 1
1. Key characteristics of any project.
Any of the project which is being conducted are based on specific time period which
means that any of the task which are needed to done within the project must be complete for
attaining the goals. There are different types of characteristic in any project which has been
discussed below:
 Defined Objectives: The most significant thing which is necessary to be considered
is that objective of the project must be predetermined which includes form initiation
to closure. In simple words, objective allow to perform task in systematic manner
(Akkermans and et. al., 2020).
 Definite end point: Ant of the project have time period, which means that time
duration must be defined.
 Uncertainty: There are always number of element within the project which may
create issues and in order to perform project in specified manner, situation of failure
must be handled in effective way.
 Cross functionality: In any of the project there is the requirement of different
department so looking at this it is necessary maintain coordination among different
department.

1b. Importance of integration management in Project Management setting
Integration management can be defined as collaborative system which includes some of
the crucial elements of the project like cost, quality, stakeholder and many more. All of this
elements plays the most essential role in completing the project in systematic manner. Some
of the importance of integration management has been mentioned below:
 It simply allows to perform all of the task in systematic way (Cakmakci, 2019).
 It allows to develop coordination among the different department.
 Even it provides all of the necessary information to each and every stakeholder
connected to the project.
2. Scope Statement for a project along with role of WBS in such a statement
Scope Statement: It is the most important aspects for the researcher because they get to
know about their intention or expectation from the project. Here, boundaries are also
determined for researched due to which they can identify that how project is needed to be
conducted
Role of WBS in scope statement: A WBS helps in determining the progress of the study
by considering scope statements and segmenting the main project's goals into set of smaller
processes and operations.
3. Approaches to generate a budget for a specific project budget
At the time of preparing any of the budget, there are mainly two option available to
prepare. The first one is top bottom approach and bottom up approach. The subject is focused
on taking decisions regarding proposal paying as well as dividing the portion among project
tasks. Apart from, the bottom-up approach is about calculating the total cost by paying lower
number of job packages and afterwards rolling back.
4. Project risks and responses to overcome risks within project management settings.
There are number of risk factor which can easily have its impact upon successful execution of
the project. Some of the risk associated in the project has been mentioned below:
 Financial risk- It can be seen just because of lack of fund available for the project.
 Schedule risk- It is among the risk which can be seen in that respective situation
where work is not being performed as per the schedule (Ershadi, Edrisabadi and
Shakouri, 2019).
 Performance risk- This connects with the failure in project with expected result.
 Resource risk- This types of risk may occur proper resources are not available.