Managing Projects - Solutions and Recommendation

Running head: SIM335 MANAGING PROJECTS
SIM335 MANAGING PROJECTS
Name of the Student
Name of the University
Author Note:

SIM335 MANAGING PROJECTS1
Table of Contents
Task 1...................................................................................................................................2
Answer to Question 1......................................................................................................2
Answer to Question 1b....................................................................................................2
Answer to Question 2......................................................................................................3
Answer to Question 3......................................................................................................3
Answer to Question 4......................................................................................................4
Answer to Question 5......................................................................................................4
Answer to Question 6......................................................................................................5
Task 2...................................................................................................................................7
Introduction......................................................................................................................7
Project Life Cycle Stages.................................................................................................7
Elements and process within nine knowledge areas........................................................9
Leadership and administration of control problem........................................................11
Conclusion.....................................................................................................................13
Recommendation...........................................................................................................13
References..........................................................................................................................15

SIM335 MANAGING PROJECTS2
Task 1
Answer to Question 1
Some of the key characteristics of any given project are
 A project is typically for a given customer.
 Project is completely temporary in nature which has a particular starting point and ending
point.
 Project comes up with unique collection of requirements which needs to be delivered
within project boundaries (Kerzner 2017).
 Project can vary as a cross-functional or in the cross-organization.
Answer to Question 1b
Stakeholder can be stated as the party who comes up with interest in the organization and
can be directly impacted by business. Primary stakeholder in corporation is investors, employees,
customers and lastly suppliers (Meredith, Mantel Jr and Shafer 2017). Stakeholder is mainly of
two types that is internal stakeholder or external one. Internal stakeholders are the people,
interested in firm and mainly comes through direct relationships like investment or employment.
External stakeholder does not work directly with the firm.
Stakeholder analysis can be defined as an important method needed for stakeholder
identification and analysis of need (Heagney 2016). It is required for identifying both primary
and secondary stakeholders. These people come up with interest with issues related to the given
project.

SIM335 MANAGING PROJECTS3
Answer to Question 2
The main purpose of project initiation document (PID) is all about capturing and
recording some of the basic information (Fleming and Koppelman 2016). It is needed for
defining the project plan. PID should be expanded upon the project mandate and state of the
project. It is completely aimed and planned in order to achieve the reason behind meeting the
aims.
Project initiation document comprises of information which includes a list of document
like
 Goal of project
 Size of Project
 Limitation and risk in project.
Answer to Question 3
Feasibility analysis is merely needed for determining the viability of a given idea. This
merely helps in ensuring the project which is feasible in both the ways that is technically and
legally. It merely highlights that project is valued for an investment and in some cases, project
may not doable (Turner 2016). Project manager makes use of feasibility study so that they can
understand the benefits and drawbacks of project.
Feasibility analysis help in carrying out a cost-benefit analysis of project. It helps in
determining viability, cost, and associated benefits with a project. It is done prior to allocation
financial resources (Marchewka 2016). This stand like an independent project assessment along
with improving the project credibility. It also help the decision-maker to analyze the economic
benefits to the firm.