Managing Projects

This document provides an overview of managing projects, including project characteristics, project life cycle, project initiation document, knowledge areas in project management, feasibility study, and network diagram. It also covers the project management process, administration, leadership, processes, and control problems related to the management of the project life cycle.

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................2
TASK 1............................................................................................................................................3
1. Characteristics of a project and importance of any 2.........................................................3
2. Project Life Cycle...............................................................................................................3
3. Project Initiation Document (PID) Purpose.......................................................................4
4. Knowledge areas in Project Management..........................................................................5
5. Feasibility study and its importance in Project Management.............................................6
6. Network Diagram...............................................................................................................6
TASK 2............................................................................................................................................7
Project Management Process..................................................................................................7
Administration, leadership, processes, and control problems that are related to management of
life cycle ..............................................................................................................................11
CONCLUSION..............................................................................................................................12

REFERENCES..............................................................................................................................13

INTRODUCTION
Managing projects signifies as a procedure that include numerous form of elements such
as controlling, initiating, planning, executing and monitoring activities in order to ensure their
successful completion. In this, project manager have crucial responsibility as to effectively
define goals and objectives as to fulfil particular form of project in specific time period (Basu,
2017). Present report has been made on ABC PLC. The company has a history to make
successful acquisitions as well as merger as to effectively support their strategic growth
objectives. Organisation is looking towards acquisition with DEF Ltd. This entity mainly
operate their functioning as high street frozen food retailer. Present report include concepts
related to Gantt Charts, various form of risks element that are enclosed in the process of
conducting research and Work Breakdown Structure (WBS).
TASK 1
1. Characteristics of a project and importance of any 2
Number of characteristics have been carried out by a project. Some of the certain are
defined below:
1. Project is mainly framed for organisation and selected consumer benefit.
2. It has been signifies that a project is mainly of temporary in nature. In addition with this it
include both starting and ending stage.
3. It has been identified that, project is mainly unfamiliar in nature as it include numerous
set of formative needs which a manager work towards to fulfil crossways of project.
4. In addition with this, a project is mainly not business as usual which is largely same to
procedure.
5. A project is mainly aimed at achievement of goals and objectives stipulated at the
beginning of project.
6. Every project is unique as its objective and goals are diverse.
2. Project Life Cycle
Project life cycle is a procedure of carrying out the activities systematically that help in
the development of activities related to the project (Dehdasht and et. al., 2017). PLC consist of
four main phases which a manager is follow in order to achieve goals and objectives. The project
manager uses these stages in project which are as follows:-

 Initiation stage: It is the first stage of PLC that includes the need and objectives of
project. At this stage project manager also identifies business problems and opportunities.
Hereby, the manager verify the documents so that work can be done in appropriate
manner. The team member assign the work to the subordinates in order to fully utilize the
resources and meet the targets.
 Planning Phase: In this stage, proper allocation and distribution of resources take place.
To properly optimise the use of resources, the manager of company divides the work into
the team members. The group leaders guide the subordinates so that there should be
proper coordination at workplace and work can be done on time.
 Implementing phase: At this stage execution of plans take place. The main aim is to
meet the requirements according to the set standards. Hereby, the manager checks the
status of each and every activity in order to match the set standards. The weekly meeting
is taking place to inform about the important activities to the employees.
 Control: This stage is aimed at ensuring that the progress of project execution is on track
with the target laid down at the start. This ensures the alignment of activities in
accordance with the project objective.
 Closing Phase: This is the last stage of PLC, also known as follow up stage. It takes
place when the project is delivered and completed. Hereby, the manager identifies
strength and reward the team members for the completion of the project. The team
meeting is plan to appreciate employees so that the projects will be done properly in
future also.
3. Project Initiation Document (PID) Purpose
PID is regarded as one of the most essential components in project management that
effectively provide foundation to a business project. It is also known as project brief as it include
bundle of informations from starting to end of a project. With the help of project initiation
document project manager can effectively able to perform their operations and can adopt
required change and in order to overcome any form of issue within perfect framework of time
(Smyth and Vanclay, 2017). This will further benefit project manager to fulfil project objectives
and requirements in best effective manner and fulfil predetermined objectives of organisation in
well defined manner. Some of the elements of PID are given as follows:-

 Project Scope Statement: It is one of the most crucial part, as this allows an individual to
effectively understand project summary. Scope statement provide lot of benefits to
readers and researcher. Budget: Organisation financial plan is termed as a budget, it mainly includes sum of
operations as well as finances. It also cover number of expenditures and revenues of
company units. Proper budget allows company to manage organisational activities and
functions in best effective way.
 Quality Management Methods: The most common methods taken into use to manage the
quality are described as follows:-
(a) Project Evaluation- It is mainly a systematic and objectives evaluation of project
which is in process or already completed. In this there is collection and analysation of
information related to project characteristics, activities and results. With the help of project
evaluation effectiveness, sustainability, impact and efficiency of project can be effectively
determined.
(b) Monitoring- In this collecting, evaluating and using of information is done in order
to effectively monitor the project progress. This will aid managers to accomplish their goals and
objectives within specified period of time.
(c) Control- It is mainly a goal oriented process which is undertaken by project manager
in order to ensure that project is running as per according to well defined plan. In order to ensure
effective accomplishment of project manager is required to have effective control as to undertake
corrective actions within proper time.
4. Knowledge areas in Project Management
The knowledge areas pertaining to Project Management:-
Project Integration Management: In this step it is essential for project manager to keep
an eye on each and every aspect project and check in order to assure that everything is going as
per according to pre determined plan.
Project Scope Management: It has been identified that lack of proper scope and scope
creep is identified as main reason behind the failure of project. Thus, it is essential for project
manager to effectively consider proper defining and documenting of all work that falls under
scope manager.

Project Time Management: Managing project as per according to time acts as a one of
the biggest challenge for project manager. Thus, it becomes essential for project manager to
make sure that all the task must complete before deadline in order to fulfil goals and objectives
in well defined manner.
Project Cost Management: It is essential for project manager to effectively undertake
project as per according to costs. Cost effective project management while estimating actual cost
and further determining of budget provide benefit to the organisation related to keeping eye on
expenditures and budget.
Project Quality Management: High quality project effectively satisfy customers needs
in well effective manner. As if customers receive products with any defects and deficiencies then
stipulated profitability of company can be effectively increased. Project manager can also ensure
quality of project while undertaking regular feedbacks from customers.
Project HRM: It is essential for project manager set all activities and processes in best
effective manner, as human resource acts as one of the most valuable assets of an organisation.
Thus, project manager by hiring talented and potential workforce can increase workplace
efficiency in best effective manner.
Project Communication Management: It is essential for project manager to ensure that
there is proper form of communication during the process of project. This will allow organisation
to effectively accomplish project requirements in best effective manner.
Project Risk Management: Most project managers consider risk management as the
most important factor in completing projects successfully. Therefore, effective risk management
plays an important role in preventing your projects from failure.
Project Procurement Management: This step cover areas related to acquiring and
purchasing of goods as well as services as to complete project in best effective manner. Thus, it
is essential for project manager to ensure that project procurement management must be in
transparent manner.
5. Feasibility study and its importance in Project Management
Feasibility study can be referred to as the procedure whereby the viability of an idea
would be examined with a view to ensure the legality, technicality and economical justifiability
of a project. Feasibility can be checked on 5 grounds, namely, Technical, Economic, Legal,
Operational and Scheduling. With reference to project management, it can be analysed that it

helps an individual, group or entity in ascertaining whether the project is worth investment or
not.
6. Network Diagram

TASK 2
Project Management Process
Project management is mainly termed a set of actions that are undertaken by project
manager as to effectively accomplish organisational goals. Mentioned below there are different
phases of project management which is required to be consider by Project manager of ABC PLC
while acquisition with DEF Ltd:-
(Source: Project Management Process, 2019)
Conception and Initiation:
This stage mainly include two elements such as Project Initiation and Project Charter. By
effective undertaking of this manager of ABC Plc can effectively able to reach towards new
heights:-
Project Charter:
It defines clear goals and objectives. In regards with the merger of ABC PLC and DEF
Ltd., the project charter outlines the below mentioned goal:-
“To successfully formulate the acquisition of DEF Ltd. By ABC PLC by the end of next 6
months.”
Project Initiation:
Illustration 1: Project Management Process

Hereby, the project manager involved in the acquisition taking place between both
companies would lay down the primary and secondary goals, purpose and other related goals in
well defined manner.
Definition and Planning:
Planning is one of the crucial factors in project management as it provides foundation to
project. With the help of this, project manager involved in the acquisition would make effective
plans through which ABC PLC can acquire DEF Ltd. with a view to gain competitive advantage
against their competitors.
Scope & Budget:
ABC PLC is looking forward to expand its business operations by acquiring DEF Ltd. In
order to fulfil this objective, the project manager would stipulate a budget which would aid the
organisation in accomplishment of its project objective in a cost effective manner.
Work Breakdown structure:
WBS is a tool which is aimed at subdivision of activities with a view to accomplish the
project in a timely manner. In this regard, the WBS for concerned project of acquisition is as
follows:-
(Source: Work Breakdown Structure for Acquisition Project, 2019)
Illustration 2: Work Breakdown Structure for Acquisition Project

Gantt Chart:
With the help of this, ABC PLC can effectively can lay down the series of activities
through which it can carry out the acquisition of DEF Ltd within a period of 6 months.
Communication Plan:
The project manager would make use of a communication plan to communicate the
necessary details to the stakeholders of acquisition project. Formative interaction would prevail
that would aid in successful accomplishment of project in stipulated course of time. In this
regard, the project manager of ABC PLC has stipulated the below mentioned communication
plan:-
(Source: Communication Plan for Acquisition Project, 2019)
Risk Management:
In order to overcome any issue and problems while execution of project manager is
required to undertake different types of strategies as to overcome them appropriately and further
ensure more effective end outcome.
Project launch or Execution :
Illustration 3: Communication Plan for Acquisition Project

After effective planning, project execution is next step that is required to be effectively
undertake by manager. Hereby, project manager of ABC PLC would make use of effective
strategies and policies which would ensure that acquisition of DEF Ltd takes place as per the
proposed planning.
Status and Tracking:
It is one of the most essential phases which are required to be undertaken by manager, as
with the help of proper tracking manager can ensure effectively accomplishment of project goal.
KPIs:
KPI include resource allocation, Planned Value (Budget), return on investment and more.
By undertaking all these measures, project manager of ABC PLC would ensure that the target
associated with execution of acquisition get achieved as per requirements.
Quality:
Quality is regarded to be a key aspect of project management. In this regard, to ensure
that the acquisition project gets executed in an effective manner, the project manager of ABC
PLC would apply Quality Assurance which is a technique that is aimed at facilitation of quality
throughout the execution stages of project.
Project Close:
In this, it is the basic responsibility of project manager to select project in well defined
manner. Hereby, the project manager of ABC PLC would wind up the project team and activities
associated with execution of acquisition in order to facilitate the closure of project.
Post Mortem:
Hereby, project manager would analyse the project details so as to gain knowledge of the
deviations between actual and desired performance. This would provide ABC PLC with the
scope to take corrective actions in order to expand the operations of ABC PLC at international
marketplace.
Project Punch list
It is considered a a document which is mainly developed near the end of a project. It is
essential for ABC PLC project manager to complete list of tasks which is required to be
completed before building project.
Reporting:

It is the end phase whereby the team responsible for executing the acquisition would
report the results of project to Board of Directors of ABC PLC.
Administration, leadership, processes, and control problems that are related to management of
life cycle
Control problems associated with management life cycle :
It has been determined that there are number of issues that has been faced by manager in
management life cycle. There are some certain issues that can be undertaken by ABC Ltd
manager:
Time management factor :
It is on of the most important factor that play crucial role to manage project as per
according to time. By conducting activities according to time manager can effectively able to
accomplish their project in best effective manner within perfect time frame.
Resources factor:
In order to ensure successful accomplishment of project, project manager is required to
allocate resources and ensure their availability on timely basis (Crowley, Hinchliffe and
McDonald, 2017). In addition with this, it is essential for manager to required potential
employees as to accomplish project in best effective manner.
Technological factor:
Major issue which is mainly observed while project process is technological problems. In
order to effectively overcome them project manager is required to use upgraded software and
tools as to undertake newly advanced technology and gain more competitive results in best
effective manner.
CONCLUSION
Present report demonstrate the fact that project management is most essential element
within project life cycle as it allow managers to effectively ensure successful accomplishment of
project as per according to perfect time frame. In this it is essential for project manager to
undertake different types of skills as to conduct project in best effective manner. Further, in order
to overcome issues and problems related to project, manger is required to undertake proper time
management as to accomplish their activities in well defined manner. This will ensure high
profitability as well as profitability.

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