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Managing Projects INTRODUCTION 1 TASK 11

   

Added on  2020-10-22

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Managing Projects

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Defining key characteristic of project .....................................................................................12. Explaining key stages of project management ........................................................................23. Purpose of project initiation document (PID) and listing 3 major elements of PID................24. listing major knowledge areas of project management and importance of any 2 of them......35. Attributes of project managers and their importance in project..............................................46. Explaining meaning of stakeholders and their purpose and importance in the projectmanagement.................................................................................................................................47. Drawing network diagram and showing critical path of activities..........................................5..........................................................................................................................................................6TASK 2............................................................................................................................................6Project plan..................................................................................................................................6Key stakeholders........................................................................................................................11Risk analysis..............................................................................................................................14CONCLUSION..............................................................................................................................17REFERENCES..............................................................................................................................19

INTRODUCTIONPlanning, organising, analysing, monitoring and controlling is a procedure of managingoverall projects is the process of managing project. With the help of performing all theseactivities in an effective manner, the set goals and objectives of a project management plan canbe achieved in an effective manner. The present study shows key characteristics of the projectalong with essential stages of a project management procedure. It also shows purpose of projectinitiation document along with various project management and their importance. In addition, italso shows a brief description of stakeholders and their purpose and importance in the projectmanagement process.Further, the study also shows preparation of a project management plan for the expansionpurpose of London skill concern which is registered as a charity for helping young people of thecountry. The project management plan includes all the risk factors involved in the expansionpurpose, involvement of stakeholders, list of activities to be performed for managing overallexpansion activities of London skill concern. Moreover, the plan also shows a critical paththrough which the goals and objective of project can be achieved in an effective mannnerthrough Gantt chart and critical path.TASK 11. Defining key characteristic of project Project Project can be defined as a set of various tasks that are needed to be performed in acertain order for the purpose of achieving a specific goals and objectives. (Nicholas and Steyn,2017) It can also be termed as a prepared plan by collaborating several activities with a majorobjective of achieving a specific aim.Characteristic of project:Following are the key characteristics of a project:Duration: No project is for long term purpose. Each of the project have a certain specificduration. Or in other words, it can be said that the start and end time and duration of theproject is specific and certain.Interdependence: It is also a major characteristic of each project. Each activity of aproject is interdependent with each other (Project Definition – Characteristics of Project.1

2016). Therefore, change in a single activity can affect a large number of activities of theoverall project. Complexity: Each project includes certain activities that are quite complex to beperformed. All those complex activities are needed to be performed for achieving goalsof project.Scope: All the project contains a limited scope. This scope is defined in the projectmanagement plan. In this order, each activity of the project is needed to be performed bybeing within the boundaries of scope of the project.Risk: Performance and achievement of each project goals and objectives involves acertain amount of risk of whether the project's aims could be achieved or not.2. Explaining key stages of project management Project management:Project management is a process of planning, monitoring and controlling variousactivities of the project plan so as to ensure that the set goals would be effectively achieved. Following are the 5 major stages of project management:1.Project initiation: Project initiation is a primary stage of project management process. Inthis stage, the actual feasibility are being determined along with analysis of need andestimation of time and funds required for completion of project (Schwalbe, 2015) .2.Project planning: It is the stage at which project managers draws a plan with the help ofwhich set aims and objectives of the project could be achieved effectively by using theminimum amount of resources. 3.Project Execution: Next stage of project management plan is to execute all the plansdeveloped in the earlier stage and performing various activities in the project as well.4.Monitoring and controlling project: After execution of all the plans, managers need tomonitoring all the activities and developing control measures for avoiding andeliminating all the inefficiency from the performance of project activities (Five Phases ofthe Project Management Lifecycle. 2019).5.Closure of project: It is the last stage of project management plan in which each goalsand objectives of projects are being achieved in an effective manner.3. Purpose of project initiation document (PID) and listing 3 major elements of PIDProject initiation document2

The project initiation document is an essential document prepared under the procedure ofproject management. It includes each stage and essential points of the project. In order to this ithelps both client and the project team for analysing each stage and plan of the project.Following are the key elements of a PID:1.Scope2.Risks3.Stakeholder4. listing major knowledge areas of project management and importance of any 2 of themProject management knowledge areasA combination of various technologies, methodologies and standards that helps in projectaims and objectives. Essential areas of project management are as under:1.Integration management of project 2.human resource management3.Management of scope of project 4.Time management5.cost management6.Risk management7.Stakeholder management of project8.Procurement management9.Communication managementImportance of knowledge areas:Each knowledge area contains their own importance in effective completion of project.Major importance of knowledge areas can be determined as under:Time management: In this knowledge area,m project managers determines the timeinvolved in project and determining the best path to complete the project with minimumtime.Stakeholder analysis: Stakeholders analysis is the area through which effective plans arebeing developed through which wealth of each stakeholder could be enhanced (Kerzner,2018.). As wealth of stakeholders have direct relation with achievement of project goalsand objectives.3

5. Attributes of project managers and their importance in projectFollowing are the key characteristics of project managers:1.Transparency2.Communication skills3.Decision making skills4.Problem solving attitude5.ConsistencyImportance of these characteristics for project cam be determined as under:Problem solving attitude: It is a major attribute of a project manager, as with the help ofit, each problem that arise while performing any activity of project can be ssolved in aneffective manner.Communication skills: With the help of this characteristics, each goals, objectives, anyimportant decision, etc. can be communicated to each member of project team. It plays animportant role in improving workings of overall project.6. Explaining meaning of stakeholders and their purpose and importance in the projectmanagementStakeholdersStakeholders are the persons that plays an important role in the performance of overallproject activities. Further, these stakeholders are also interested in the actual result of the project.Purpose of stakeholder analysis:Stakeholders analysis is a technique that helps in identifying each stakeholders along withtheir interest in the project. Further, this analysis also helps in developing effective plans throughwhich wealth of each stakeholders could be improved. It also helps in achieving the overall aimsand objectives of the project as it have a direct relationship with the enhancement of wealth ofstakeholders.Importance of stakeholdersFollowing are the major importance of stakeholder:they help in effective development of strategiesThey provide sufficient funds for smooth completion of projectThey analyses the risk involved in project and develops effective strategies for theirelimination as well.4

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