Managing Projects Assessment (EAS)

Managing Projects
Assessment (EAS)

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1. Characteristics of a project and their importance...............................................................3
2. Five key phases in Project Life Cycle (PLC).....................................................................4
3. Intent of Project Initiation Document (PID) and the documented items in PID...............4
4. Knowledge areas in Project Management (PM) and their significance.............................4
5. Feasibility study and its significance in Project Management...........................................5
6a. Network diagram..............................................................................................................5
6b. Calculation of critical Path...............................................................................................5
TASK 2............................................................................................................................................6
Activities needed to manage the project successfully............................................................6
Needed Skills and competencies by Project Manager............................................................6
Project administration process and Project Life Cycle stages................................................7
Control problems associated with managing the life cycle of major project.......................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Project Management refers to the act of initiating, planning, implementing, controlling
and finishing the work to attain predetermined goals and meet success criteria within specified
time frame. It mainly aims to develop an entire project that complies with the objectives of
clients (Aloini, Dulmin and Mininno, 2012). This report is based on ABC PLC which is one of
the large food and drinks retailer of UK. The company has successfully done some mergers and
acquisitions and owns and control numerous well known brands of UK. This report covers
characteristics of project, stages of PLC, intent of project initiation document, some project
management's knowledge area, feasibility study and its significance and network diagram in first
part. The second task of report includes activities needed to manage a project effectively,
competencies and skills needed by project administrator and processes of project administration
to make sure the successful management of project.
TASK 1
1. Characteristics of a project and their importance
A project refers to a specific finite activity that develops measurable and observable
results under definite predetermined requirements. There are numerous characteristics of project
some of which are mentioned below:
 It is temporary in nature as it has a specific starting and end point.
 Project develops a capability to execute a service.
 It creates specific deliverables, which are products and services or results.
 It is always developed in phases and carrying on by increments – forward-looking
elaboration.
 The project is often be cross functional (Castro-Nova, Gad and Gransberg, 2017).
 Project involves uncertainty and unfamiliarity.
Unique deliverables are created by project which are significant in improving profit ratios
and revenues of an organisation. Progressive elaboration of project is important as it results in
creation of more effective solutions for progression and development of projects.

2. Five key phases in Project Life Cycle (PLC)
PLC is the process that includes series of steps which starts from the initiation and ends
to the closure of project. It includes five stages including initiation, planning, implementation,
control and closure. The initiation step states about the project at broad level. It includes
processes that are needed to initiate a project (Basu, 2017). The second phase aims at preparing
a roadmap that defines scope, goals, objectives and strategies to make the project successful. The
execution phase focuses on performing the actual work of project by implementing all the
strategies that are developed in planning phase. This is the stage in which the plan is put into
action. The control stage is associated with measuring the performance and progression of
project and ensuring that all the activities are carrying out as per the plan. The last phase
represents the closure of project in which all the documents and deliverables are collected and
store in single place.
3. Intent of Project Initiation Document (PID) and the documented items in PID
PID is the crucial element of project administration that forms the basis for an
organisation's project. This is the document on the basis of which decisions are taken and
mandate is implemented. The main intent of PID is to acquire and record all the basic
informations that are required to accurately define as well as plan a project. The three items
that are documented in PID includes business case, project plan and communication plan. PID
depicts a elaborated version of initiation document with proper justification of project (da
Rocha, Kemmer and Meneses, 2016).
4. Knowledge areas in Project Management (PM) and their significance
The study areas in PM are the areas that a project administrator requires to know for the
effective management of project. These knowledge areas includes:
 Project Integration Management
 Project Cost Administration
 Project Scope Management
 Project Communications Administration
 Project Schedule Management
 Risk Management of project
 Project Quality Management
 Project Procurement Management