Project Management: Characteristics, Integration, Scope, Budget, Risks, Quality, Gantt Chart, Project Life Cycle

Project

Table of Contents
Table of Contents.............................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Key characteristics of any project............................................................................................1
1b. Discussion of the importance of integration management in Project Management setting. .1
2. Scope of statement for a project and role of work breakdown structure have in the statement
.....................................................................................................................................................2
3. Approaches that exist to generate a budget for a specific project budget................................2
4. Identification of different types of project risks and outlining of different responses which
could be focused to overcome two of the risks............................................................................2
5. The quality method which should be introduced to ensure that project is successfully
completed.....................................................................................................................................3
6. Plotting a Gantt chart and identification of the critical path along with analysis of the days
in which the project will be completed........................................................................................3
TASK 2............................................................................................................................................3
Life cycle states of the project.....................................................................................................3
Processes which will be undertaken............................................................................................7
Management and Control problems associated with the project.................................................7
Possible actions which could be taken to achieve the set goals on time.....................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Managing projects can be defined as the process of formulating effective strategies to
complete a project successfully. It is very important for managers to be aware of all the major
steps which are required to followed to complete a project as it is essential to meet the goals. If
the managers are not able to take appropriate actions to complete a project in the predetermined
time limit then it may lead them towards failure (Bao, Shi and Kalra, 2017). This assignment is
segregated in two parts. First task is based upon basic terminology of project management.
Second task of the report is based upon a refurbishment project of University of Sunderland. This
project will be handled by Project-Xperts-20 which is a company working of such projects. This
report covers various topics such as characteristics of project, scope statement, approaches to
prepare budget, quality methods, formulation of Gantt chart etc. Additionally, all the stage of
project life cycle, processes to be undertaken, management and control related problems along
with the actions to complete the project in set time limit are also covered in it.
TASK 1
1. Key characteristics of any project
Following are some of the main characteristics of a project:
 Project scope: It defines the elements that are covered by the project.
 Resources: The sources which could be used to meet the scope.
 Time: The period which will be required to complete all the tasks.
 Quality: The deviation or spread which is allowed from a desired standard.
1b. Discussion of the importance of integration management in Project Management setting
In the setting of project management integration management is very important. With the
help of it all the skills, knowledges, processes, methods and experiences could be applied to the
project to meet its predetermined goals successfully. It can also help to tale control over all the
activities that are performed to meet the deadlines (Brandon and Guimaraes, 2016). Integration
management guides to make sure that all the elements which are required to complete the project
successfully are coordinated with each other or not.
1

2. Scope of statement for a project and role of work breakdown structure have in the statement
Statement for a project is very useful and important project as it outlines the deliverables
of the project and help in the identification of key success factors, constraints and assumptions.
Work break down structure plays a very important role in it as it helps to analyse that all the
planned activities will be performed in systematic manner or not. In such type of statement, it is
essential to identify the resources that will be needed to meet the predetermined goals.
3. Approaches that exist to generate a budget for a specific project budget
Two different types of approaches are used to create a budget for project. Both of them
are described below:
Top-down approach: Under this approach the cost of whole project is decided and the
amount between all the work packages in divided (Caizzi, Young and Zellner, 2017).
Bottom-up approach: While using this approach to create a budget the cost of project is
estimated with the help of rolling up and lowest-level work packages.
4. Identification of different types of project risks and outlining of different responses which
could be focused to overcome two of the risks
The risks which are associated with a project are described below:
Scope: When the scope and objectives of the project are not clearly stated or defined to
the individuals who are working for it then this type of risk may take place.
Schedule: When the predetermined schedule for all the activities of project is not
followed then it may result in this issue.
Resource: If there is a shortage of resources which are required for completion of project
successfully then this risk takes place.
Technology: All the defects in systems, used devices and equipment may create the risk
of technology as it results in failure of service.
Following steps could be taken to reduce resource and scope risk:
 Scope risk could be reduced if the manager will define and state the scope clearly at the
initiation stage.
 In order to reduce the resource risk, the managers are required to make sure that they are
having all the resources which are required to meet the project goals (Edwards, Serra and
Edwards, 2019).
2