Project Report on Project Management

The provided document is a project report that outlines the essential skills and competencies required for effective project management. The report draws from relevant books, journals, and online resources to provide insights into managing projects in complex environments, including aspects of complexity, risk management, and success factors. It also touches on cloud computing innovation perception, attitude, and adoption, as well as e-waste management policies and alternative approaches.

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Characteristic of a project...................................................................................................1
2. Scope, role of Work breakdown structure in the project....................................................1
3. Gantt chart and critical path...............................................................................................2
4. Approaches to generate budgets.........................................................................................3
5. Risk associated with project...............................................................................................3
6. Quality methods to ensure a project ..................................................................................3
TASK 2............................................................................................................................................4
Report.....................................................................................................................................4
CONCLUSION................................................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
A Project is a specific, immanent task, undertaken to achieve planned aims and objectives
that can be determined as output, results or advantages. A project is viewed as successful if it
attains the objectives as per their acceptance criteria, within allotted time period and budget. For
this, project managers are needed in every organisation (Anantatmula and Thomas, 2010). As a
manager we might perform our work on small and large group with task duties that reach from
fund and time only to everything we believe of under the operational part. It also contains
various aspects of projects like work breakdown into small unit to get better result in future.
TASK 1
1. Characteristic of a project
Project: It is said to be organised set of tasks to be dead over a definite period of time
and within certain costs and limitations.
Characteristic:
 Unique: Any project is unique in nature, as there is always changes in each project. The
design are slight different, owner might be changed .
 Cross-functional: It is a kind of group with various operational departments working
toward a common goal. That, it include finance, marketing, operational and human
resources.
 It has definite start and end point : Every project has certain opening and closing point.
 Uncertainty: As projects are unique they bring uncertainties because we are not sure that
it should work or not (Artto and Kahkonen, 2013).
2. Scope, role of Work breakdown structure in the project
Project scope statement is understanding of the scope of a project which includes various
aspects which are required to complete deliverables. It includes purpose and justification, scope
description, Project strategies, project constraints and its assumptions. Any happenings must be
identified and made changes prior to implementation.
Work breakdown structure: It is said to be division of work into small units to get
more accurate and reliable results from a project.
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Role of WBS: The main role of WBS in project scope is to reduce complicated activities
to a series of tasks. The tasks can be more accurate and measurable independently, with clear
time limits (Cooke-Davies, 2011).
3. Gantt chart and critical path
Gantt Chart: A Chart is a summary of various lines that displays the sum of work
finished or production accomplished in certain duration of time with relation to the time allotted
for the project. It is a kind of horizontal bar chart formulated as production control techniques
that are used by managers in their projects (Cusworth and Franks, 2013). Through this an idea
about plan and direction ,coordination ,specific time required to complete that project.
Critical Path through using Network diagram :
There are three possible path which can be derived from this network diagram that
represent the time required to complete the project :
1. 1+3+6=10
2. 2+4+7=13
3. 2+5=7
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The shortest time could be 3rd one which is taking just 7 day's to complete a task. From
all other two possible path that are taking more than 7day's to complete.
4. Approaches to generate budgets
There are various approaches that are used by the managers to generate budget for
specific project budget which may includes Top-down approach and Bottom up. These are use
actual work and cost estimation from related parts of previous projects (DeMarco and Lister,
2013). Expert judgement they are formed through other segment of organisation, consultant and
third party proposal. Bottom up create cost estimate with group who are active to do the work.
Multi year plans are more and more used to understand not only the impact of external factors
that derived from bottom line outcome, but internal initiative are also being concern under
budget prediction.
5. Risk associated with project
There are various ways through which risk can be arise in a particular project that are
related to production process. As, other kind of risks are financial risk under which if, deadline
of a project is not completed on time, then it will maximise cost to a project. Other, thing is
operational risk which are arises, because of operations not performed according to plan. There
are various risk who's responses arises in the project like, avoid by changing the project, transfer
risk to third party as by insuring our projects for future loses, reduce action by likelihood,
accepted as contingency plan which should be there and reject were no action is taken and gain.
6. Quality methods to ensure a project
Quality can be identified through project evaluation, it will help in measuring the impact
and try to improve that processes. Under this we are going to analyse quality of a project by
creating control charts, it measure process measurement over time (Fortune and et. al., 2011).
Other methods are, Pareto charts and cause and effect diagrams to identify variability of a
project. All these things can be used to monitor and control a project. So, that desire outcomes
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could be generated through evaluation. Quality of projects can be appropriated and cost are
under the loop of managers. They are said to basic as are suitable for masses by small grooming
in statistics that are based on wide majority of quality related issues (Kandelousi, 2011).
TASK 2
Report
As mentioned in the case study about two companies ABC Plc and DEF Ltd, which are
operating in food and drinks segment. For making growth and expansion of ABC Plc, it wants to
acquire DEF Ltd for supporting its strategic development. The acquisition was made friendly by
making generous offer to the board of director of DEF Ltd which was accepted by the board and
its shareholders. As we should know that ABC company is best known for merger and
acquisition in past for support of his strategies and attaining its goals and objectives.
Company is dealing in different segment of food and beverages. It controls a wide range
of well reputed UK brand. While, DEF Ltd is well known for huge street frozen food retailer,
which have outlets in many towns and cities across the country. one of the employee, who is
working with ABC as functional manager, John who have certain responsibility regarding
production process. This acquisition is different from the previous one, as it was done with the
consideration to use in-house skilfulness to control extra cost of merger(Lau and
Rowlinson,2011).
ABC company buy's more then half of the ownership of DEF Ltd. In case of ABC Plc, there are
various reason by which acquisition can be performed. Some of them are: to create financial
synergy for cost of capital, improving company performance and increase growth in future, to
achieve economies of scale and for diversification for large market and product expansion.
Now, this has been seen that there are various ways by which takeover can be done.
These are such as hostile takeover, friendly takeover, and so on. Friendly takeover is a tool that is
approved by the management and owners of both of the companies. Now, it is observed that this
has become one of the most important tool for acquisition. Friendly takeover is the way by which
owners(shareholders) of the target company are tends to accept the negotiation what the
acquiring company offers (Lin and Chen, 2012). In the given circumstances, the ABC Plc is
intending to acquirer the DEF Plc by using the friendly takeover technique. Under this technique,
the ABC Plc is intending to acquire the DEF Plc so that they chose the friendly takeover to
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expand the business within the time limit and the budgeted cost. Now, this has been find that the
DEF Plc's board of directors feels that it is better to accept the offer instead of rejecting it.
However, there are so many advantages which can be taken by doing the friendly
takeover (Yu, Williams and Shao, 2010). By way of exercising acquisition tools, ABC Plc can
enter into the new market without framing structures in the desired locality, and also within the
short span of time and within the time limit which could be very useful for the Acquirer for the
diversification purpose. Now, for entering into the new market, there is need of doing the
acquisition, which is very useful tool. Under the given circumstances, both are related to the
same industry which is extremely beneficial for expansion purpose.
Outline of activities that are required to manage the project.
Most of the company could be happy to their project accomplishment. some grade would
be attained by successful design of plan (Winch, 2010). Likewise, only way that objectives can
be achieved is by using expert guidance as to complete the project in hurry, economical and
faster. New projects are life blood of business. It is critical for business growth and profitability.
It need to be considerable planning and organising project growth and success.
Various points must be kept while preparing project outline:
 Life-cycle of projects: It includes various steps start from initial stages to completion.
 Idea development: It is important to have complete idea about what you going to project
in front of the company.
 Matching project with market: Firstly, identify the need of project which has to be as
per requirement of market situation.
 Funding of projects: There are various sources of finance which are to be analysed. On
the basis of analysis the company choose the least expensive source of finance. So that it
can attain the utmost level of profit.
 Project development process: An important part is to keep follow project process that
will managed according to need and wants of every member involved under the projects.
 Creating a project team: Before preparing any report or plan, there is a need to identify
a team who are currently working on project. It is huge task because, it requires more
time and cost. As per the knowledge and ability to handle different situation they are
suppose to manage their activities.
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 Investment and cost control measures: This steps involve various investment portfolios
that would provide desire results from that investment (Pryke, 2012).
They have to follow certain steps:
 Clear knowledge of goals and Objectives of project: Start from the initial stage at every
point of project management, make it clear about its importance and need of this project.
Objectives and aims must be followed by every members.
 Clarity in project scope: It contains captious component of project and time, cost required
to complete the projects.
 Project planning: After formulation of project document, manager need to design a
project plan that would contains cost, duration, resources requirement.
 Project governance: It has important to have project governance in place. Any changes in
plan /WBS has to be reviewed and communicated with stakeholders.
 Planing for project risks: It is integral part of project direction. In any business activity
various risk are associated with planning but all have to be evaluated in time.
 Monitor and controlling: As a project is kicked-off and team has started to submit report
to senior project. All has to be monitor properly and control measures are to be
implemented to know the impact of outcome.
Above mentioned points has to used properly as ensuring that it should be prepared on
given time duration and under estimated budget.
Skills and competencies required by project manager :
There are various skills that a project managers must have in preparing a report plan.
 Leadership: Under this managers do possess good leadership quality that are required in
project formulation (Turner, 2014). It help to give inspiration to other employee, to work
in that particular environment.
 Scheduling: It is a core project skills, as talking to people who are manages a project
during closing of the year appraisal time.
 Cost control: As a project manager budget has to be prepared according to economical
way which contains minimum costs and generate maximum outcome for the company.
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 Risk management: It is an important part in the life of manager as they are comfortable
enough to handle pressure and overcome the risk arises in projects. They work more on
complex and transformative manner to face the challenges come in front of them.
A project may be well structured and adequately funded, the resources may be unique
and consultant are highly qualified.
The core competencies areas of a mangers are :
 Leadership: It consist of businesses purpose and ability to take decisions within that
context. It also help to provide vision to translate organisation objectives into project aim.
Ability to keep project in right direction toward finishing stages. It do have knowledge
about capability and imperfection to ineffectively utilize team members to support and
guide each other.
 Communication: Competency of managers can be identified which proper
communication between individual because, they have carrying ability to give valuable
information about task, plan and strategies to its shareholders.
 Negotiations: It is a kind of deal that is done in between the management and manager
about the project formulation and its profitability that is base upon win win agreement.
 Team building: The project manger has the ability to maintain each and every member
those are involved under the project has to be coordinative and encourages to work
together as a team to achieve desire objectives (Smyth, 2012).
Project Management process :
 Initiation and discovering : Under this process mangers has to decide ideas about plan
that are required during project. It is generally talks about issues and problems that arises
at the time of formulation.
 Project planning : The second process of project management is state about planning of
ideas and give them a concrete shape to initial ideas. Under this what to do , by whom it
has been done and cost involve during this project planning . All has to be mentioned
clearly and prepare as per the requirement.
 Project evaluation : Under this stage place, necessary resources and other equipment that
are required in project are to be evaluated. All has to be done by keeping above aspects in
mind. Some many things, like cost of financing credit collection from other elements of
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the society and increase in the price of fixed assets (Project management processes and
phases 2017). These all have to be properly identified.
 Project Assessment: The assessment of project with proper using of techniques and
method are to be done. It is mainly used to assess the complexity within project and give
proper weight age. so, that it would help to provide micro, macro factors which involve
during project implementation.
 Project Review: It is last stage in project management as it conducted to measure the
desire result produce by project. Under this a report is prepared which consist of entire
process involve in project. It all goes according to plan it will implemented and if doesn't
then asked for correction. Impact and growth of project can be identified through this
review process.
Project life cycle stages:
It includes various activities that helps in completing the project in specific time period. It
includes four phases which assist in management and control of the project. Phases of this cycle
are as follows-
1. Initiation- At this stage,planning is done for completing the task. In this, a project
manager is appointed who will be able to manage a project and will have some
experience that will help in managing resources effectively. Manager have responsibility
to select best team member who are fit for the job.
2. Planning- It is very important task before starting any project because, it support in
completing the task without any interference. It includes a detailed breakdown and
assignment of each task of project from beginning to end.
3. Implementation- At this stage, project plan is put into motion and work of project is
performed (Müller and Jugdev, 2012). While implementing plan, it is necessary to
maintain control and communicate as needed. Progress should be evaluated on a regular
basis so that if there is any requirement of correction that can be taken timely so that
project can achieve it's desired result.
4. Closing- During final closure or completion phase, project is handed over to the owner of
it, terminating supplier contracts, releasing project resources etc (31 Core Competencies
Explained 2017).
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There are various challenges faced by manger while following project life cycle because
of dynamic exposes and common to all every event or activity but have different ways :
 Humanity: Group in all cases have diversified presence multi factors problem. every
employee represents a voice impact and working hand.
 Materiality: Equipment required under the project like, material, stocks, machinery. It
help to manage and direct the implementation of resources to fulfilled end results.
 Safety: A project require healthy environment which is associated with cultural issues.
On the other hand performance safety be also measurable through quality issues.
 Vulnerability: With various risk associated with any project, the managers finds quality
and energizing aspects of the business. It has been control from beginning of project life
cycle.
All of these risk or failure are to be control by project manager and make them engaged
in facing those problems and tried to use various measures to overcome the challenges arise in a
particular project (Loch, DeMeyer and Pich, 2011). This report is targeted to overall
development and growth potential of company. As a project manager I have tried to plan the
overall budget and project that has to be used by ABS Plc after acquiring DEF Ltd. My role and
responsibilities are clearly focused to plan and bring complete images about success of project.
CONCLUSION
From the above mentioned report, it can be concluded that for starting a project, there are
so many types of methods and techniques which is used for managing the project effectively. As
this report contains critical path analysis to identify exact possible time require to complete a
task. By next stages includes a case of acquisition which is done as friendly in nature. On the
basis of which company has asked to plan a project report that would specified various skill and
competencies require during project formulation. Various aspects of project has being
understood under this report.
REFERENCES
Books and Journal
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Anantatmula, V and Thomas, M., 2010. Managing global projects: A structured approach for
better performance.Project Management Journal.41(2). pp.60-72.
Artto, K.A. and Kahkonen, K., 2013.Managing risks in projects. Routledge.
Cooke-Davies, T., 2011, August. Aspects of complexity: Managing projects in a complex world.
Project Management Institute.
Cusworth, J.W and Franks, T.R., 2013.Managing projects in developing countries. Routledge.
DeMarco, T and Lister, T., 2013.Waltzing with bears: Managing risk on software projects.
Addison-Wesley.
Fortune, J and et. al., 2011. Looking again at current practice in project
management.International Journal of Managing Projects in Business.4(4). pp.553-572.
Kandelousi, N.S., 2011. Key success factors for managing projects.World Academy of Science,
Engineering and Technology, International Journal of Social, Behavioral, Educational,
Economic, Business and Industrial Engineering.5(11). pp.1541-1545.
Lau, E and Rowlinson, S., 2011. The implications of trust in relationships in managing
construction projects.International Journal of Managing Projects in Business.4(4).
pp.633-659.
Lin, A and Chen, N.C., 2012. Cloud computing as an innovation: Percepetion, attitude, and
adoption.International Journal of Information Management.32(6). pp.533-540.
Loch, C.H., DeMeyer, A and Pich, M., 2011.Managing the unknown: A new approach to
managing high uncertainty and risk in projects. John Wiley & Sons.
Müller, R and Jugdev, K., 2012. Critical success factors in projects: Pinto, Slevin, and Prescott–
the elucidation of project success.International Journal of Managing Projects in
Business.5(4). pp.757-775.
Pryke, S and Smyth, H., 2012.The management of complex projects: A relationship approach.
John Wiley & Sons.
Turner, J.R., 2014.The handbook of project-based management(Vol. 92). New York, NY:
McGraw-hill.
Winch, G.M., 2010.Managing construction projects. John Wiley & Sons.
Yu, J., Williams, E., Ju, M and Shao, C., 2010. Managing e-waste in China: Policies, pilot
projects and alternative approaches.Resources, Conservation and Recycling.54(11).
pp.991-999.
Online
31 Core Competencies Explained 2017. [Online]. Available through:
<http://www.workforce.com/2002/09/03/31-core-competencies-explained/>. [Accessed
on 8th June 2017].
Project management processes and phases 2017. [Online]. Available through:
<https://www.apm.org.uk/blog/project-management-processes-and-phases/>. [Accessed
on 8th June 2017].
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