Project Management Assignment- PID

MANAGING PROJECTS

TABLE OF CONTENTS
TASK 1............................................................................................................................................1
1.a Key Characteristic of project.................................................................................................1
1.b Purpose of project initiation document.................................................................................1
2.a Scope Statements for a projects.............................................................................................1
2.b Role of work-breakdown structure.'......................................................................................1
3. Gantt Chart and Critical path..................................................................................................2
.....................................................................................................................................................3
.....................................................................................................................................................3
4. Approaches used for preparing budget...................................................................................3
5. Project Risk.............................................................................................................................4
6. Quality Methods used for project success...............................................................................4
TASK 2............................................................................................................................................5
INTRODUCTION...........................................................................................................................5
MAIN BODY ..................................................................................................................................5
Project Life Cycle:......................................................................................................................5
3. PROJECT EXECUTION...........................................................................................................12
5. PROJECT CLOSURE...............................................................................................................14
Leadership and Administration and Control programmes........................................................15
CONCLUSION..............................................................................................................................15
REFERENCES..............................................................................................................................16

TASK 1
1.a Key Characteristic of project
The key characteristic of project are follows-
 Project has set objectives that need to be achieve in given set of time and cost.
 All projects are unique.
 All the activities are temporary in the project but it has definite starting and ending dates.
 Project pass through an effective procedure.
 Basically, company have something at interest when undertaking a project.
1.b Purpose of project initiation document
Project initiation document (PID) is one of the most important part the project
management as it is said to be the foundation of project. The purpose of project initiation are
follows-
It makes clear when project needs to be delivered, whom to delivered and how it will be
delivered (Joslin and Müller,2015).
To make sire that the base of project has sound basis before asking program in order to
make any major commitments to project.
It also help in making the entire team of project, client and all other stakeholders to
understand about the project.
2.a Scope Statements for a projects.
Scope of project is the range of project. Project includes various elements such as
quality used to measure the strength, time undertaken for project completion, cost incurred,
resources required an communication channels used for communicate the information from the
stakeholders. In addition to this, project also include risk assessment where all the possible risk
are identified and evaluated by the project manager (Willar and et.al., 2018 ).
2.b Role of work-breakdown structure.'
Work-breakdown structure is another important element of project management as it is
the key deliverables of the project that organizes the work of team into manageable sections. The
role played by WBS as it helps in dividing the complex activities or task of the into manageable
and simpler (Meredith and et.al., 2017). It makes the readable and accurate project and it also
divide the responsibilities of the team of the project. Further, it also aids in calculating and
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estimating the time, cost and risk. In addition to this, it illustrate the scope of the project so that
all the information associated with the project can be understood in more better way.
3. Gantt Chart and Critical path.
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Illustration 1: Gantt Chart
Illustration 2: Critical Path
4. Approaches used for preparing budget.
Budget is the total estimation of the cost incurred considering the project. There are some
approaches which are used for preparing the budget are as follows-
Top-Down Approach: According to this approach, project manager use the actual work
as well as estimated cost from a same part of earlier project (Schwalbe, 2015). Project manager
use apply raw existent experience for example, from financial reports, personal logs, earlier
schedules of project etc.
Expert Judgement: This is another approach to develop the budget as it in this project
manager use to call an experts in preparing budget. Experts have deep knowledge about the all
the cost which are associated with the project and all other expenses required for project.
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5. Project Risk.
Risks are uncertain and it arise at the beginning of the project. It is anything that could
impact on performance of project potentially. The process ad identifying, analysing and
responding to the risk are called as project management of risk.
Here are the risk which are involved in project management which are as follows-
 Risk of over-budgeting.
 Operational risk.
 Reputational risk.
 Technical risk.
 Compliance risk.
6. Quality Methods used for project success.
Quality is the key to make the project successful. To maintain the quality of project life
cycles, project manager will use several tools which are as follows-
Key Performance Indicators: This is one of instrument that used to monitor the
performance on regular basis so that they can reach the project (Harrison. and Lock, 2017). For
example, budget should be kept planned, adherence to project deadlines, deliverable's success
and many others.
Benchmarking: This is another tool that is used by the project manager that helps in
identifying as well as establishing the key performance standard along with measuring and
evaluating against those standards.
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TASK 2
Project management is practice of initiating, planning, execution along with controlling
and closing the work of team to achieve specific goals as well to meet specific criteria at a
specified time. The fundamental challenge is to achieve all project goals within the given
constraints It is the way a person organised as well as manages the resources which are very
necessary to complete a project. There are five stages through which a project go through which
are initiating, planning, execution along with controlling and closure (Alexander, Ackermann
and Love, 2019).
This present report is context to ABC PLC which is one of largest food and drink
retailers. Company is considering the acquisitions of DEF Ltd. So, this assessment will plan
outline all the activities which are required successfully to manage the project.
Project Life Cycle:
Project Life Cycle is describes the process of delivering successful project. At the
beginning of the ABC M&A project, the amount of planning and work needed can seem
overwhelming. There are fives stages in the project life cycles which are as follow-
1.PROJECT INITIATION:
This is the first stage of the project life-cycle where project manager will measure the
value of project and feasibility. In order to make this merger of ABC plc successful, project
manager will use tools to identify either to pursue this project or not (Hornstein, 2015).
Business Case Document: This is the document that is prepared to evaluate the benefits,
cost and risk of the project.
Summary of the project:
This present project is based on the merger and acquisitions of ABC Plc with DEF Ltd.
ABC PLC is going to acquire DEF Ltd to increase the production capacity of the company as
well as to increase the revenue of the company. DEF Ltd is the well-known high street frozen
food retailer and it has major towns as well as cities around United Kingdom. So, the project
manager of ABC Plc is undertaking this project of merger and acquisition to reduce the overall
cost of merger.
Challenges or Goals:
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The goal of this project is to increase the production capacity of the ABC plc and to raise
revenue and sales of the company. Further, company has also aim to reduce the overall cosy of
the merger. These are the goals that ABC plc is trying to achieve (Jin and et.al., 2019).
Solution:
In order to accomplish the goals, the project manager of ABC plc will use various tools
and techniques which are as follows-
Key performance Indicators (KPI): This is the tool that is used by the project manager to manage
and evaluate the performance of the project on regular basis so that if any contradiction arise
actions will be taken as soon as possible.
360 Degree analysis: This is also one of the tool that is used for monitoring the performance
from all the angles so that project goals can be accomplish.
Expert Advise: Project manager of ABC plc merger will also take expert advise to make the
project successful. Project manager will undertake the suggestions and can save time, money and
avoid all possible setbacks.
Cost:
Cost is the total amount of money which project manager required for completing the
project. It is important to identify and evaluate all the cost and inflows so that project outcomes
can be identified.
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Table 1: Budget of the project
Benefits:
The expected benefits from this project are as follows-
 The revenue of ABC plc will be increase.
 The production capacity of ABC plc entirely increases.
 This project will raise collaboration and team working among the employees of different
organisation (Matějka and Tomek, 2017).
 This project will help in reducing the cost of merger and acquisition.
Execution Timeline
The total time that is required to deliver the project is said to be the execution timeline.
(See the below: Table No. 2)
2. PROJECT PLANNING
Once project receives green light, it requires a solid plan to guide the team as well as
keep them on budget and on time. A systematic written plan is required as it gives complete
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guidance for obtaining resources, acquire financing as well as procuring required material. In this
stage, project manager will prepare work break down structure that depicts the work flow
schedule, time taken to complete project (Walch and et.al., 2015).
Work-breakdown Structure:
This is the most important part of project management where project manager used to
divide the complex activities or task into small categories to maintain the smooth flow of the
project.
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Gantt Chart:
Illustration 3: Gantt Chart
Networking Diagram
Illustration
4: Networking Diagram
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3. PROJECT EXECUTION
This is the third stage which is mostly associated with the management of project. It is all
about the building deliverable's so that desired goals and objectives can be accomplished. The
project manager of ABC plc merger will perform this stage by building team and diving the roles
and responsibilities to all team along with team members. In this stage the attention of project
management is essentially required (Stark, 2015).
Here are the roles and responsibilities required:
Stakeholder Roles and Responsibilities Reporting Authority
Project Manager: The role played by project
manager is successful for
completion of project on time
and on budget.
Manager of ABC plc will
manage the relationship with
stakeholders and contributor of
the project.
Manage the deliverables as per
the plan and recruit the staff of
project.
The project schedules are
determined and delivered as
per the plan.
Providing regular updates to
upper management (Rausch
and et.al., 2016).
Management of ABC plc.
Team Members: Contributing the objectives of
the project.
Compelling the deliverables of
individual.
They all work according to the
Project Manager or Team
leader.
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directions and meet the project
needs.
Project Sponsors: All the important decision are
performed by sponsor.
Make the budget of the project
approved.
Make the resources available.
All the project goals are
communicated throughout the
company (Enshassi,
Kochendoerfer and Al Ghoul,
2016).
Project Manager and
Management of ABC plc.
Executive Sponsor Carry all responsibilities of
project.
Sanction all changes to scope
of project.
Sanction the deliverables of
project.
Project Manager and Project
Sponsor.
Business Analyst Collet requirements from users
of business.
All the deliverables of project
will be verified to meet the
requirements.
Aids is defining the project
(Wong, Yu and Too, 2018).
Project Manager
4. PROJECT MONITORING & CONTROL
Monitoring and Control are most important part of project which is very important for
project manager to deliver the project on time. To achieve the desire goal and objectives of
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project of merger and acquisition of ABC plc. Thus, project manager will use several tools to
monitor and control the project performance which are as follows-
Key Performance Indicators: This is one of instrument that is used to monitor the
performance on regular basis so that they can reach the project. For example, budget should be
kept planned, adherence to project deadlines, deliverable's success and many others.
360 degree Analysis: This is another tool for monitoring an controlling the project
towards the path of success. It is the procedure where project manager will measure the
performance from all angle by undertaking feedbacks from subordinates, employees, senior
managers on the project performance and after than take actions accordingly (Cadena and et.al.,
2018).
Benchmarking: This is another tool that is used by the project manager that helps in
identifying as well as establishing the key performance standard along with measuring and
evaluating against those standards. So, in this project of ABC plc, project manager will measure
the performance with other merger and acquisition held by company in previous time. It will
allows in determining the variations and solve them accordingly.
Thus, by using these tools, project manager will check the variations and take corrective measure
to reach the project in a desired way and time.
5. PROJECT CLOSURE
This last stage of the project life cycle where the teams close project when they deliver
the finished projects, communicate to stakeholders about completion as well as release the
resources to other projects. The project manager of ABC plc will discuss with the team mates
what went well and what do not went well along with the lesson that they have learnt from that
particular project (Schowanek and et.al., 2018). It is ensured by the project manager that project
must be closed. In addition, project manager will also analyse the result of the project and team
members. After that document the closure of the project as well as also documented the used
and un-used budget. At this stage, all the contracts from any suppliers, experts or vendors need to
be discontinued. All the liabilities associated with the project are settled.
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Leadership and Administration and Control programmes
Leadership play very important role in managing the project life cycle as it is important
for management of project. This is because the entire success of the project is determine by the
leaders. The key leadership skills for the project managers required are communication,
management, honesty, planning, flexibility, decision making etc. Leaders of ABC plc project
need to communicate goals, vision and mission of the project. If leadership is missing it is not
possible to maintain flow of the project and if flow is not there project cannot achieve the heights
of success (Efferin and Hartono, 2015). Effective leadership raises the chances of making the
merger and acquisition of ABC plc successful.
Administration is another key to achieve in managing the project life-cycle in a strategic
manner. In making the project successful, it is important to have strategic alignment of project
with business goals. Management is essential because there are many project which are difficult
and involve numerous stakeholders, so with effective administration, project manager will keep
all the stakeholder on a same path. Administration includes all the realistic planning of the
project and it also make the objectives clear as well as focus.
Control Programmes: Controlling is also very essential in managing the project life
cycle and processes. Project manager of ABC plc will measure the actual performance with
standard performance to identify the variation and undertake the corrective actions. It includes all
the measures for controlling such as KPI, 360 analysis, benchmarking, expert advises and all
those quality control tools. Controlling tools and plans help the smooth flow of prjet as well as it
also allows delivery of error free project (Hornstein, 2015).
CONCLUSION
From above report, it has been analysed that project management play very important
role in achieving desire aims and objectives. It includes all the stages of project management
which are the essential to perform to deliver the project on time and on budget. Additionally,
business case has been included in this assignment where the cost, benefits and time of the
project is identified and on the basis of that other documents are planned. For example, work-
breakdown structure, Gantt chart and critical path. Further, monitoring and controlling was also
included in this assignment which is important part in managing the project life cycle in a
strategic manner.
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REFERENCES
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Lock, D., 2017. The essentials of project management. Routledge.
Matějka, P. and Tomek, A., 2017. Ontology of BIM in a construction project life cycle. Procedia
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Meredith, J.R and et.al., 2017. Project management: a managerial approach. John Wiley &
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