Managing Projects

Managing Projects

INTRODUCTION
Project Management can be explained as the process where process like initiation, plans,
execution, controlling and closing the effort of a team plays the crucial role for attaining the
goals within a specific time period. The main area which is needed to be focused is that any of
the project must be completed on specific time period. In context of the file the chosen
organisation is ABC Ltd which is been performing well within the market and they are even
good at doing successful merger and acquisition. In context of the file, company will do
acquisition with DEL Ltd which has been currently dealing in the market as a known high street
frozen food retailer. Here, various topic will be included in which it will be explained about
Project Life cycle, WBS, Gantt Chart and many more.
TASK 1
1.
There are number of characteristic of any project which has been explained below:
 Project is always helpful for the organisation as well as customers to whom company is
going to target.
 The main characteristic of any project is that it mainly consists both start and end note
due to which working condition becomes easy.
 Mainly projects do have unfamiliarity due to which lots of adjustment are required to be
done by the team (da Rocha, Kemmer and Meneses, 2016).
 Project helps to attain the goals within the specific time period.
 It does have the definable purpose, end item or results.
 This are prepared for the small time period due to which it becomes easy to set the fix
target that when then to complete and how it is needed to be completed.
Importance
 Project helps to attain the goals within the specific time period: It is important for
business organisation to understand that whenever they enter into any of the project they
directly thinks how an when to complete this respective task and it can be easily done
with the help of project management. Each and every people are clear about their roles
and responsibility in it which even helps to enhance the communication system of a
company.

 It consists starting and ending note: When it comes to project management, it has a
great importance because it helps to find that when an organisation is required to start the
task and when they are needed to end it on a positive note.
2.
There are five different key stages of Project Life Cycle and they have been explained
below:
 Initiation: It is the beginning step where objectives are needed to be decided and what
can be the importance of that respective objective is needed to be understood.
 Planning: It is the stage where proper planning is required that how and when any of the
work is needed to be done. The main thing which is needed to be focused is that while
doing planning each and every area should be focused properly (Dao and et. al., 2016).
 Execution: This is the stage where execution need to be done in which all of the work
should be done according to the pre planning process.
 Monitoring and Controlling: It is the stage which has a huge importance because it
directly or indirectly helps to understand that whether work is being done properly or not
and if in any of the situation it is not being done in a systematic manner then legal actions
can be taken easily.
 Closure: This is the final stage where work is needed to be ended and even it is
necessary to check it in that whether company has been able to accomplish its target or
not.
3.
In present scenario, project initiation documents play the crucial role because it helps to
ensure that any of the project have a fix objective for attaining the goals in given time period.
Secondly, it always acts as a base document for any of the particular project where it is necessary
for the project manager has a great role to be played (Görög, 2016). In short, it helps to
determine about the issues and problem which can arise in between, through which chances
automatically increases for attaining the goals of a company.
4.
There is different knowledge area in project management and among them some of them
are listed below: