Managing Projects

This report provides an overview of project management and discusses key characteristics of a project, importance of integration management, scope statement and role of WBS, approaches to generate a budget, project risks and responses, quality methods, and Gantt chart. It also includes an overview of a specific project for refurbishment of a library and classrooms.

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Key characteristics of any project......................................................................................1
1b. Importance of integration management in Project Management setting..........................2
2. Scope Statement for a project along with role of WBS in such a statement......................2
3. Approaches to generate a budget for a specific project budget..........................................3
4. Project risks and responses to overcome risks within project management settings.........3
5. Quality methods to ensure successful project completion.................................................4
6. Gantt Chart.........................................................................................................................4
TASK 2............................................................................................................................................5
Overview of project................................................................................................................5
Project life cycle stages..........................................................................................................5
Initiation.................................................................................................................................5
Planning..................................................................................................................................6
Objectives...............................................................................................................................6
Timescale................................................................................................................................6
Budget.....................................................................................................................................7
Execution................................................................................................................................7
Work break structure..............................................................................................................7
Control....................................................................................................................................8
Risk.........................................................................................................................................8
Closure..................................................................................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Project management can be comprehensively said to be the process concerned with the
beginning, planning, execution, control and closure of a task in a given course of time for the
purpose of achievement of specific objectives (Mathiaszyk, Volkmann and Read, 2019). The
main responsibility associated with any project is of the project manager who assumes all the
accountability as well as the risks from the stage of initiation to closure. Each project has its own
set of characteristics but there are certain elements which are common to every project and these
are time, scope, budget, resources, planning, risk, etc.
The main intent of the current report is to summarise along with analyse the various elements
pertinent to a particular project. The report is divided into two main sections. The 1st section or
task talks about core characteristics of a project, project scope, risk assessment & management,
Gantt chart & critical path, methods of generating budget and quality management. In addition to
this, the 2nd part or task of the report is conducted over the project of Project- Xperts-20 (PX20)
for refurbishment of library, all the lecture theatre along with the class rooms situated in between
the ground floor and second floor within the boundaries of University of Sunderland London
Campus up to the minute learning campus. The second part includes stages of a project in
accordance with the application of Project Life Cycle. Further, it also consists of risks that may
arise during the execution of the project of Sun-Project 20X20.
TASK 1
1. Key characteristics of any project.
A project can be alluded to as a transient endeavour which has a certain beginning and
conclusion, and it is led for making of another item/administration/result or changing the
previous one. Each of the projects may have its particular arrangement of attributes; anyway
there are some key characteristics that are pertinent to all types of projects. Those key qualities
are quickly talked about as follows:-
Characterized Objectives: The entire project surrounds the pre characterized goals from the
earliest starting point as far as possible (Owusu, Chan and Shan, 2019). The goals set down in a
project will in general give a course of direction to the faculty that is indulged within carrying
out the project tasks.
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Fixed end point: As each of the projects has fixed beginnings and end points, it is supposed to
be a temporal course of action.
Vulnerability: A project is acknowledged to be inclusive of a few components of vulnerabilities
which pose the tasks to the likelihood of disappointment if not took care of in a viable way.
Cross functional relations: A project undertaking can be said to be the integration of various
activities which would in general require assistance from different functions pertinent to a
company. In this way, cross usefulness is a typical quality of a project endeavour.
1b. Importance of integration management in Project Management setting
Integration management can be comprehensively alluded to as a framework wherein all the
components pertinent to any project are coordinated, for example, cost, scope, assets, quality,
resource package, alterations, partners, plan and so on (Pollard, 2019). This is acknowledged to
be fundamental to every single project endeavour and sets out the establishment to
accomplishment of any project undertaking in pre defined course of time. Furthermore, the
significance linked to integration management in context of project management is uncovered as
underneath:-
 This guarantees the free and smoother functioning of any project undertaking.
 This gives pace to coordination and synchronisation over the life cycle pertinent to any
project undertaking.
 This guarantees legitimate arrangement of due date, result, project lifecycle etc.
 This guarantees that all of the project partners possess sound knowledge of their jobs
along with the obligations.
2. Scope Statement for a project along with role of WBS in such a statement
Scope Statement: The scope articulation within any project can be said to be the overview of a
project specialist's desires from project endeavour in the form of activity, objective, cost, course
of events and expectations. This encompasses the limits of any project undertaking which gives a
picture of the general method for directing a task along with its assessment, obligations of each
member of the project endeavour and so on (Miguel, Madria and Polancos, 2019).
WBS’s role within scope articulation: A WBS tends to provide help with characterizing the
scope of project by taking scope articulation and partitioning the significant deliverables of the
project endeavour into little just as reasonable arrangement of tasks or activities.
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3. Approaches to generate a budget for a specific project budget
There are, for the most part, two methodologies that are utilized for generation of a financial plan
for a project. These can be perceived to be top base approach to project budget generation
alongside base up approach (Palmer-Trew and Taylor, 2019). The previous approach deals with
settling on choice in regards to the costing of any project undertaking alongside the division of
sum of money amidst the work bundles. Other than this, the base up approach is linked to the
estimation of project endeavour cost by costing the most reduced degree of work bundles and
afterwards moving up.
4. Project risks and responses to overcome risks within project management settings.
There are a few dangers that will in general effect upon the general execution of an undertaking.
Beneath referenced are a few dangers:-
Money related risk: It happens because of absence of money for execution of various activities
pertinent to the project.
Time related risk: This hazard happens when a project undertaking doesn't get finished within
pre defined course of time (Poston and Richardson, 2019).
Execution risk: This is identified to be linked to the failure of attainment of expected results of
the project tasks.
Resource risk: This happens because of shortage of assets for finishing any project endeavour.
Types of risk Way to overcome from risk
Financial risk Implementing strong strategies which can assists in effective allocation
of funds to the wide varieties of tasks pertinent to any project
endeavour.
Resource Risk Recruitment of competent and qualified individuals for timely and
optimal utilisation of resources for the project.
5. Quality methods to ensure successful project completion
There are a few techniques which are utilized to oversee quality inside a project in order to
ensure that the undertaking gets effectively executed in pre characterized time period. In this
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connection, the most generally utilized quality strategies are recognized to be pareto graph, flow
charts, histograms and so on (Kerzner, 2019). Of all of these strategies, one of the most
prominently used quality methods is talked underneath in a concise way:-
Pareto chart: This can be identified as a sort of histogram that depends on Pareto's rule that set
forth the principle that few deformities or issues emerge owing to less number of causes. Pareto's
standard is likewise called 80/20 rule which suggests that 80% of cost of defect is brought about
by 20% of issues (Kerzner, 2019). This graph will in general give help to the project director to
focus their due consideration over the most significant issues that should be addressed for
obtaining greatest advantage.
6. Gantt Chart
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TASK 2
Overview of project
The project endeavour is about the college that has the intention of carrying out refurbishment of
their library along with the classrooms from bottom to second floor. This project work is allotted
to the organisation called Project-Xperts-20. Hereby, the main goal of this endeavour is to deal
with the influence placed by DLR Trains in terms of noise pollution. Every single fundamental
component of this project endeavour has been talked about in a detailed manner later.
Project life cycle stages
It is acknowledged to be circular pattern in which the project is carried out that incorporates 5
primary stages, for example, commencement, arranging, execution, controls and closure (Lenfle,
2019). Undertaking life cycle essentially gives guidance for the project supervisors and causes
them to execute every action identified with the project endeavour in the most legitimate way. It
just depicts the path from start to end of the project. Project – Xperts 20 is the compelling
company which has undertaken the project related to refurbishment of library, classroom and
theatre. Utilization of the project lifecycle mainly provides assistance in ensuring that the project
gets executed in a manner desired by the organization. Every single fundamental stage which
constitutes project lifecycle is discussed in a detailed manner as follows:-
Initiation
This is the first phase of project lifecycle in which every single necessity of organisation is
dictated by the supervisor of the project. Within this phase, principle focal point of the project is
to create understanding towards the potential needs of organisation, issues, project connected
thoughts that could deliver the issue identified with it (Jugdev, Mathur and Fung, 2019). Hereby,
the entity gives principle inclination to their general objectives in order to check its feasibility in
a legitimate way. Regarding the current situation, principally 20 workstations have been
introduced inside the task while extra 5 have been added to the library. By dissecting all the
things in an in-depth manner, project supervisor has finished lump sum of £8 million and 2 years
have been chosen to finish the project endeavour.
Besides this, it is acknowledged that partners are additionally thought about during this phase as
they are significant part of the project undertaking. Therefore they need to hold satisfactory
information on the proposed venture which will be executed. Partners for the college renovation
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project are learners, instructors, college staff, guardian, sponsor, and so forth. Alongside this, the
underlying stage in regards to the undertaking is tied in with creating documents together with
the in-depth conversation and study such that every single action or task pertinent to the project
can be implemented in a convenient way.
Planning
In this phase of the project, the supervisor develop effective and suitable plan for the concerned
project undertaking with the goal that they can get an expected thought regarding the general
time period required for the endeavour (Fleming, 2019). This phase guarantees to pass on
legitimate data to every single project colleague with the goal that they can have clear
comprehension towards their jobs and duty in the venture. Regarding the present undertaking of
University of Sunderland London Campus, it is acknowledged that the refurbishment venture of
study hall, theatres and library would need approximately 2 years.
Objectives
• To install 20 new workstations at college roof and 5 new workstations in library after
replacement of previous one.
• To refurbish theatres as well as lecture halls so that learning of student can be done through
digital media that enhances quality of education of students.
• To develop smart classrooms for learners to enable them to research and enhance their learning.
Timescale
Timescale with respect to every project undertaking gives estimate idea about the timing
required for execution of the project in predefined course of time (de Oliveira and Rabechini Jr,
2019). This phase of project is concerned with provision of timely guidance and supervision to
the task administrator about the accessibility of the ideal opportunity for each movement
identified with the undertaking. It basically assists the project supervisor in finishing every single
task or activity within the defined course of time. Within the settings of current refurbishment
venture of University of Sunderland London Campus, it is acknowledged that appropriate
planning is done to ensure that the objectives of the project are attained in a timely manner, while
yielding the desired results as expected by the project manager.
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Budget
Within this stage, a financial plan is developed for the project so as to make sure that sufficient
funds are allocated to each and every activity or task pertinent to the project (Kerzner, 2019). For
the refurbishment project of University of Sunderland London Campus, £10 million has been
kept as the project budget within the constraints of which refurbishment needs to take place.
Thus, the budget developed for this project is given as follows:-
Activities Amount (£ million)
Online Promotion 1.6
Raw material 2
Salary 2
Transportation exposes 1.5
Advertisements & Marketing 1.3
Recruitment expenses 1.2
Training expenses 1.4
Total 10
Execution
This is regarded as being the longest stage of the project lifecycle. Hereby, approval is taken
from concerned authorities of University prior to execution of project activities within the
premises linked to renovation. Hereby, guidance is provided by the project manager so that tall
the activities linked to the project can be executed by the staff in an effective manner. An
effective execution of the project inflates the probability of accomplishment of project objectives
as defined in the beginning of the project.
Work break structure
This is a framework which breaks down a project into small and manageable work sections. This
provides due assistance in distributing the duties to staff accordingly and ensuring that there are
least complexities within the project at all times (Ershadi, Edrisabadi and Shakouri, 2019). With
this, it can be ensured that refurbishment within the confines of University of Sunderland
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London Campus takes place effectually. The WBS as per the project lifecycle for current project
is as follows:-
Control
Within this phase of the project, the supervisor stresses upon experiencing the project cycle with
the goal that they can build up their comprehension over the improvement areas so that changes
can be introduced if required. To execute this in an effectual way, every single task of the project
is followed with the goal that the project gets completed in a legitimate way. This essentially
contributes in the compelling execution of the work with the timely accomplishment of project
goal.
Risk
Risk can be said to be the probable barriers that can hinder a project from being completed in the
allotted time frame (Cakmakci, 2019). In this relation, some of the probable risks linked to the
refurbishment project are discussed as follows:-
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Risk Likelihood Impact Stakeholder Mitigation Contingency
Insufficient worth
of the funds
because of
unexpected costs
Moderate Low Sponsor To reserve money in
order effectively
overcome
unanticipated cost.
It may negatively
impact on success
of event which is
mainly caused by
deficient of
funding.
Deficiency of
employee in order
to handle event
visitors in an
effective manner.
High Modera
te
Project
manager
This risk can be
effectively overcome
with the assistance of
advanced planning as
to provide efficient
physical resources in
order to conduct all
other activities.
In this due to
inefficiency in
human resources
effectiveness of
case can get
affected.
Risk related to
frequent changes
in regulations of
government.
High Modera
te
Managing
director
In this it is important
for event manager to
devise necessary as
well as detailed form
of information related
to on possible
changes in policies
In this any form of
legal authority,
those who are not
able to abide rules
and obligations can
undertake tough set
of actions against
college.
Risk related to
suppliers as they
have power to vary
cost of commodity
High High Project
manager
In this it is essential
to formulate effective
deal with
manufacturers as to
lower down the price.
It may lead towards
deficiency in funds
capital for other
activities.
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Closure
This being the end phase of project is concerned with conclusion of project so that it can be shut.
Consequently, the redesign of rooms on the 3 stories of the college gets finished by this stage.
This can be said to be the project phase in which the project supervisor gauges the
accomplishment of the undertaking by ascertaining whether the objectives set at the beginning
are met or not.
CONCLUSION
Based on the discussion over project management, it can be said that project management is a
procedure comprehensive of stages, for example, start, plan, execute, control and conclusion.
These stages of the project guarantee that the endeavour gets executed in a compelling way to
yield the desired results. Other than this, it is recognized that management of project also deals
with management of probable risks in an effectual way so as to make sure that they do not
impact upon the completion of project in the predefined course of time. Additionally, it can be
inferred that the main intent behind carrying out any project is to attain the objectives in given
time frame by acting within the constraints. Further, it is also determined that the responsibility
of the whole project lies upon the shoulders of project manager who remains accountable for
every task or activity pertinent to the project from the beginning to the closure.
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REFERENCES
Books and Journals
Akkermans, J., Keegan, A., Huemann, M. and Ringhofer, C., 2020. Crafting project managers’
careers: Integrating the fields of careers and project management. Project management
journal, 51(2), pp.135-153.
Cakmakci, M., 2019. Interaction in Project Management Approach Within Industry 4.0.
In Advances in Manufacturing II (pp. 176-189). Springer, Cham.
de Oliveira, G.F. and Rabechini Jr, R., 2019. Stakeholder management influence on trust in a
project: A quantitative study. International Journal of Project Management, 37(1),
pp.131-144.
Ershadi, M.J., Edrisabadi, R. and Shakouri, A., 2019. Strategic alignment of project management
with health, safety and environmental management. Built Environment Project and Asset
Management.
Fleming, Q.W., 2019, January. Project procurement management: contracting, subcontracting,
teaming. Project Management Institute.
Jugdev, K., Mathur, G. and Fung, T., 2019. Mediated effect of project management asset
characteristics on firm performance. International Journal of Managing Projects in
Business.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project
management. John Wiley & Sons.
Lenfle, S., 2019. Project Management in Extreme Situations: The Manhattan Case. Management
of Extreme Situations: From Polar Expeditions to Exploration
‐oriented Organizations,
pp.21-36.
Mathiaszyk, L., Volkmann, C. and Read, S., 2019. Effectual Project Management: Thinking Like
an Expert Entrepreneur2.
Miguel, A., Madria, W. and Polancos, R., 2019, April. Project Management Model: Integrating
Earned Schedule, Quality, and Risk in Earned Value Management. In 2019 IEEE 6th
International Conference on Industrial Engineering and Applications (ICIEA) (pp. 622-
628). IEEE.
Owusu, E.K., Chan, A.P. and Shan, M., 2019. Causal factors of corruption in construction
project management: An overview. Science and engineering ethics, 25(1), pp.1-31.
Palmer-Trew, S. and Taylor, P., 2019. Project Management: It's All Bollocks!: The Complete
Exposure of the World of, and the Value of, Project Management. Routledge.
Pollard, C.E., 2019. Lessons learned from client projects in an undergraduate project
management course. Journal of Information Systems Education, 23(3), p.3.
Poston, R.S. and Richardson, S.M., 2019. Designing an academic project management program:
A collaboration between a university and a PMI chapter. Journal of Information Systems
Education, 22(1), p.6.
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