Managing Projects in the Organisation

Added on - Nov 2020

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MANAGING PROJECTS INTHE ORGANISATION
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1PART 1............................................................................................................................................1Project Management tools and techniques (PMTT)....................................................................1PART 2............................................................................................................................................8Project initiation document (PID) plan for Just ☺.....................................................................8PART 3.........................................................................................................................................12SWOT ANALYSIS..................................................................................................................12CONCLUSION.............................................................................................................................17REFERENCES.............................................................................................................................19
INTRODUCTIONProject management is defined as the management strategy to control and implementvarious stages of project such as project plan, initiation, execution and its evaluation. It helpsorganisation to manage their resources effectively and to apply the skills, knowledge and varioustechniques so that project and organisational goals can be achieved. In order to achieve thedesired success goals of project, it is necessary to develop suitable project management strategiesfor minimizing project failure risk and achieving quality outputs(Gita, Kam andTak Shing,2013).The report will discuss the project development and management strategy for the projectof re-opening of nursery byJust☺organisation. It will describe various techniques and toolswhich can be used by Just ☺ in its nursery re-opening project. The document will evaluate theinitiation and development plan for this project so that the organisation can enhance the outputproductivity of re-opening. The analysis of strength and weakness as well as feedback is anintegral part of the project development process. Further the report will provide a selfdevelopment plan for improving the skills required for successful implementation and executionof project.PART 1Project Management tools and techniques (PMTT)Project managementis defined as the application of skilled practices for completion ofany project of an organization. It consists of studying several components in context to methods,techniques, skills, tools and more to attain the objectives. Moreover, It assists in specifying thecriteria in terms of designing, executing and maintaining the entire planning to fulfil the requiredtime-frame allotted for a project. Moreover, there are mainly four stages that facilitate projectmanagement such as initiation, planning, execution and closure of a project. It is that outline inwhich various tools and techniques are included to understand the needs and requirements of aproject and finish it on time to maintain the revenue management and profit generation.In addition to this, there are many benefits of project management in relation to thecompletion of project :1
PM shed light on the usefulness of the adopted techniques and tools to pave the path ofsuccessful completion of project by optimizing the allocated resources in given time-frames with high effectiveness.It assists in risk management by evaluating the constraints and total time allotted forcompletion of project.This helps in the development of work breakdown structures (WBSs) for executing theIt aids in linking the goals, aim and purpose of project with respect to the needs anddemands of the stakeholders'.This supports in the overall estimation of the budgeting, costing and scheduling tounderstand the associated risks in each phase.This leads to the establishment of the dependable variables which are tangibles alongwith compete assessment of the project.It helps in proper supervision, monitoring and controlling of system parameters of projectto reach the desired performance metrics.2
In regard to " Just ☺ " organization which is planning to re-opening a nursery needs sucha proper outline to overcome the challenges in efficient manner and re-establish themselves inmore appropriate manner to gain attention from targeted customers' zone. Hereby, there arefollowing tools and techniques which can be used for proper implementation of projectmanagement plan.Project management tools are necessary for the administrative department of " Just ☺ "where the managers implement and supervise all the stages of PM in more orderly manner.These tools put a reliability and surety that the tasks assigned would be completed on time bybalancing the work pressures and improve the efficiency of resources.PERT for project managementPERTis an acronym used for Program evaluation and review technique and is one of thefrequent adopted situational tools and is mostly used in complementary with the CPM (criticalpath method) for project management (Dezhi and Katia,2013). It consists of the followingsequential methodology to define the necessary tasks for the completion of project:3Illustration1: General relationship between PMTT and other components of project(Source:Agile Project Execution, 2018)
Firstly, all the activities along with their specified milestones are recognised to initiate theproject with a deadline.Next, before determination of all the tasks, there must be a brief analysis to perform inunderstanding the accurate sequence of performing tasks.Along with, a network diagram must be included where PERT CHARTS with a CPMcharts will be used to know the sequence of activities through parallel lines, arrowed linesetc.There must be a timescale set for all the stages; however, PERT is useful when dealingwith any uncertain or sudden changes due to any internal or external factors. Here, thereare three time estimates that are used such as optimistic time (shortest), most likely timeand pessimistic time.Later, a formula can be implemented to understand time estimates in terms to overcomeany unrealistically short timescales: Expected Time= (Optimistic + 4* Most Likely+Pessimistic)/6Next step reflects on the usage of critical path to measure the total time taken for project'scompletion.Lastly, with PERT chart, there can be few changes made to overcome the challengesfaced in real time for having an outline if additional resources or more time will beneeded to avoid any further delays.In regard to the above, this tool is beneficial in improving the planning and overallforecasting of the availability of resources, activities to make the procedure convenient inunderstanding. It also helps in improving the repetitive patterns that are used while planning andcan simply the rescheduling or adjustments in the budgeting.GANTT CHARTAnother tool isGANTT Chart, which is useful for tracking the progress of project anddivision of tasks in different time slots. It is a series of horizontal lines which represents theentire schedule of project. Furthermore, it gives insights on the scheduling with the help ofgraphical representation that visually provides an outline of the tasks, milestones in proper4
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