Managing Projects: Key Characteristics, Project Initiation, Feasibility, Knowledge Areas, Project Manager, Network Diagram, Project Management Report

MANAGING PROJECTS

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
TASK 1............................................................................................................................................3
1. Key Characteristic of project...................................................................................................3
2. Purpose of Project Initiation Documentation (PID)................................................................3
3. Purpose of feasibility...............................................................................................................4
4. Nine knowledge areas in project management and it’s importance........................................4
5. Characteristics of Project Manager..........................................................................................4
6. Network Diagram....................................................................................................................5
TASK 2............................................................................................................................................5
PROJECT MANAGEMENT REPORT..........................................................................................5
Project Objective.........................................................................................................................5
Scope............................................................................................................................................6
Work Breakdown Structure.........................................................................................................6
Project Life Cycle Stages.............................................................................................................7
Project Management Processes..................................................................................................12
Expected risks and their management.......................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Project Management is an extremely detailed and intricate process that involves too many
activities that are to be managed and work that is to be performed within the constraints so that
the desired objectives can be achieved (Binder, 2016). This report involves analysis of two tasks
where general information and terms related to project management will be evaluated in the first
task and the project management report will be prepared on Ne Euro Centre case study in the
second part of the report.
MAIN BODY
TASK 1
1. Key Characteristic of project
There are various characteristics of projects such as projects are unique in nature that
provides brief definition from beginning to ending date. Projects are considered completed when
it’s goals and objective are met within timeframe. There are five key characteristic of the project
such as scope, resource, time, quality and risk which supports to access that project is valid and
attainable to achieve or not. Scope defines significance of project for the future perspective.
While resources are those authentic sources which provides adequate information in order to
achieve scope. Time defines number of tasks that will be undertaken within specific period.
Quality is the term of maintaining standard of content that will be recorded in this project. Risk
defines consequences that can be taken place while conducting project. There are various
stakeholders of the project such as top-management,project team, resource manager, internal and
external customers, project manager and government who plays different role in the project. The
main goal of stakeholder analysis is to determine key stakeholders and examine their needs in
order to create and deliver best quality or service in the first attempt. These stakeholders support
to gather qualitative informationrelated to project.
2. Purpose of Project Initiation Documentation (PID)
The main purpose of project initiation document is to cover and record general information
that requires to authentically define and plan the project precisely (Keersand van Fenema, 2018).
PID is important for planning in order to gain all framed goals and objectives within timeframe.
So, it is considered one of the major factorsof achieving project aims. There are three factors that
could be founded in the PID such as project background, project scope statement and
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communication plan. These are important elements that supports to maintain quality of the
project.
3. Purpose of feasibility
Feasibility study provide brief information about companies and analyse that project
manager and project are pursuing the rules or course of action while conducting project or not.
The main purpose of the feasibility study is applied to identify the possibilityof an idea i.e. assure
a project is technically and legally viable and economically justifiable or not. It is essential for
business development and it allows management to determine risk and opportunity at both levels
technical and economical, based on the assessment takes effective decision by project
management to conduct project effectively.
4. Nine knowledge areas in project management and it’s importance
There are various knowledge areas of project management such as project integration
management, project time management, project cost management, project quality management,
project HRM management, project communication management, project scope management and
project procurement management which supports project to achieve all framed objectives and
goals within timeframe (Matinheikkiand et.al., 2016). Project communication management plays
essential role in project progress such as it will avoid misunderstanding and delay consequences
which can lead to project failure. Thus, this factor ensures stakeholders and project staff that they
are secured in their knowledge. While project risk management supports to control all possible
consequence that can occur in project processing. Thus, this factor makes individuals proactive
to response over risk creatively.
5. Characteristics of Project Manager
Some of the key attributes that need to be necessarily present in a project manager include:
 Strong leadership and decision making skills
 Technical know- how and integration for the use of different software and tools
 Good communication skills
 Effective pressure handling skills
 Excellent competence
 Team- building characteristics
 Develop a shared vision and complete tasks according to that vision developed.
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