Communication plan, WBS, and RACI

This document provides information about communication plan, work breakdown structure (WBS), and RACI chart in project management. It includes stakeholder prioritization matrix, project communications matrix, and a detailed WBS for a renovation project. The document also covers scheduling projects, time estimation techniques, and risk management. It is a valuable resource for students studying project management.

MNG00785
Project management
Weeks 4 – 10: Assessment 2
DO NOT submit this document as your assignment. You must use this document as a guide to
compile your assignment.
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Contents
4 Topic 4: Communication plan, WBS, and RACI...............................................................................2
4.1 Stakeholder Prioritization Matrix...........................................................................................2
4.2 Project Communications Matrix............................................................................................3
4.3 Work Breakdown Structure...................................................................................................4
4.4 The RACI chart.......................................................................................................................6
5 Topic 5: Scheduling projects..........................................................................................................8
5.1 AoN........................................................................................................................................8
5.2 Time estimation.....................................................................................................................9
5.2.1 Time estimation – Enumeration method.....................................................................12
5.2.2 Time estimation – Two Pass method...........................................................................13
5.3 Critical path..........................................................................................................................13
5.4 Gantt chart...........................................................................................................................13
6 Topic 6: Resources and budgeting...............................................................................................14
6.1 Resource Loading.................................................................................................................14
6.2 Budget.................................................................................................................................15
6.3 Reporting.............................................................................................................................16
6.3.1 Earned Value Management (EVM)...............................................................................16
6.3.2 Timeline reporting.......................................................................................................17
7 Topic 7: Risk management...........................................................................................................19
7.1 Risk identification I...............................................................................................................19
8 Topic 8: Quality management & project closure.........................................................................20
8.1 Quality tools.........................................................................................................................20
8.2 Change management Page..................................................................................................21
9 Project close................................................................................................................................22
9.1 Transition plan.....................................................................................................................23
9.2 Close procurements.............................................................................................................24
9.3 Knowledge management.....................................................................................................24
9.4 Lesson learned.....................................................................................................................24
9.5 Customer feedback..............................................................................................................25
9.6 References:..........................................................................................................................26
9.7 Bibliography.........................................................................................................................27
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4 Topic 4: Communication plan, WBS, and RACI
4.1 Stakeholder Prioritization Matrix
Stakeholder:
What is the
stakeholder’s
main issue?
Power Interest Influence Impact Urgency Legitimac
y Total
Priority (a
score of 1-6 =
low, 7 to 12 =
medium, 13
to 18 = high))
Owner
To focus
over the
repairing
works and
ensure that
each of the
necessary
amendments
are met
properly
4 5 4 4 3 3 23 High
Contractor
They would
ensure that
each of the
resources
would be
procured
fully. They
would also
see that the
apprentices
would be
working
properly.
3 4 4 5 3 3 22 High
Apprentice I
and II
They would
be
responsible
for working
over the
renovation
of the
project. They
would thus
ensure that
each of the
tasks are
performed
properly.
2 3 4 5 3 2 19 High
Resource
Supplier
They would
ensure that 2 2 2 3 2 4 15 High
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each of the
listed items
would be
sent in
proper
condition.
They would
also ensure
that each of
the resource
would be of
high quality.
Airbnb
Officials
They would
contact the
owner and
would also
look into
other details
in relation to
the project.
4 5 5 5 4 4 27 High
4.2 Project Communications Matrix
Stakeholder Learn From Stakeholder Share With
Stakeholder Timing Method Owner
Owner
They would learn the
ways in which the
beachside cottage could
be further improved
during the renovation
work. They would thus
apply such techniques to
renovate the house.
Project plan, financial
plan, weekly and
monthly reports.
8 hrs
Emails, mobile
messaging and
face-to-face
interaction
Airbnb Officials
Contractor
They would take
guidance from the owner
in relation to the project.
They would thus be able
to apply such concepts
within the design work.
They would be
responsible for
sharing of the daily
work progress report
to the owners.
8 hrs
Face-to-face
interaction
Airbnb Officials,
Owner
Apprentice I
and II
The contractor would
guide them based on
performing works over
the renovation. Hence,
they would have to
communicate with the
officials in order to
perform the various
works
They would also show
the progress of work
over the project.
8 hrs
Face-to-face
interaction
Contractor,
Owner
Resource They would learn the The required 8 hrs Face-to-face Contractor,
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Supplier
necessities from the
contractor and owner in
relation to the
renovation work. Hence,
they would be able to
provide better form of
suggestions to them in
order to procure the
relevant items.
materials needed for
performing renovation
work. They would also
share the
procurement list and
the related costs for
each resources that
would be required for
the project.
interaction Owner
Airbnb
Officials
They would majorly help
in financing the project
and would thus look into
each of the work
breakdown schedule of
the project.
They would share the
monthly revenue
report generated from
the outcomes of the
project.
8 hrs
Emails, face-to-
face interaction Airbnb Officials
4.3 Work Breakdown Structure
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Project name: Renovation project for Beachside Cottage
# Work package Duration Start date Finish date
0 Renovation project for Beachside Cottage 114 hrs Mon 17-06-19 Fri 05-07-19
1 Start of Project 0 hrs Mon 17-06-19 Mon 17-06-19
2 Initial planning and requirement gathering 48 hrs Mon 17-06-19 Mon 24-06-19
2.1 Site visiting and inspection 32 hrs Mon 17-06-19 Thu 20-06-19
2.2 Analysis of site and feedback gathering 0 hrs Thu 20-06-19 Thu 20-06-19
2.3 Proposing the design of financial plan 16 hrs Fri 21-06-19 Mon 24-06-19
2.4 Approval the financial plan 0 hrs Mon 24-06-19 Mon 24-06-19
2.5 Completion of the phase 0 hrs Mon 24-06-19 Mon 24-06-19
3 Procurement of Resources 10 hrs Tue 25-06-19 Wed 25-06-19
3.1 Bringing the supplies required for renovation 10 hrs Tue 25-06-19 Wed 25-06-19
3.2 Completion of the phase 0 hrs Wed 25-06-19 Wed 25-06-19
4 Renovation Phase 56 hrs Wed 26-06-19 Fri 05-07-19
4 Hang new curtains 8 hrs Wed 26-06-19 Thu 27-06-19
4.1 Repair wooden shutters 8 hrs Wed 26-06-19 Thu 27-06-19
4.2 Paint shutters 8 hrs Thu 27-06-19 Fri 28-06-19
4.3 Hang shutters 8 hrs Fri 28-06-19 Mon 01-07-19
4.4 Repair wooden porch 8 hrs Thu 27-06-19 Fri 28-06-19
4.5 Repair wooden floor 16 hrs Mon 01-07-19 Wed 03-07-19
4.6 Sand floor 8 hrs Fri 28-06-19 Mon 01-07-19
4.7 Refinish (seal) floors, including porch 8 hrs Mon 01-07-19 Tue 02-07-19
4.8 Paint ceilings 8 hrs Wed 03-07-19 Thu 04-07-19
4.9 Paint doors 8 hrs Tue 02-07-19 Wed 03-07-19
4.10 Paint interior walls 8 hrs Tue 02-07-19 Wed 03-07-19
4.11 Paint exterior walls 8 hrs Tue 02-07-19 Wed 03-07-19
4.12 Wash exterior windows 8 hrs Thu 04-07-19 Fri 05-07-19
4.13 Wash interior windows 8 hrs Wed 03-07-19 Thu 04-07-19
4.14 Completion of the phase 0 hrs Fri 05-07-19 Fri 05-07-19
5 Project Closure Phase 0 hrs Fri 05-07-19 Fri 05-07-19
5.1 Paying the local contractors 0 hrs Fri 05-07-19 Fri 05-07-19
5.2 Paying the apprentices 0 hrs Fri 05-07-19 Fri 05-07-19
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5.3 Completion of project closure phase 0 hrs Fri 05-07-19 Fri 05-07-19
6 End Project 0 hrs Fri 05-07-19 Fri 05-07-19
4.4 The RACI chart
WBS
Code
Activity Name Owner Contractor Apprentice I
and II
Airbnb
officials
0 Renovation project for
Beachside Cottage
1 Start of Project R R I I
2 Initial planning and requirement
gathering
R A C C
2.1 Site visiting and inspection A I C C
2.2 Analysis of site and feedback
gathering
R C I I
2.3 Proposing the design of financial
plan
A A R C
2.4 Approval the financial plan C C R R
2.5 Completion of the phase I I R A
3 Procurement of Resources
3.1 Bringing the supplies required
for renovation
C C R R
3.2 Completion of the phase R A A I
4 Renovation Phase
4 Hang new curtains R A C C
4.1 Repair wooden shutters A I C C
4.2 Paint shutters R R A I
4.3 Hang shutters I I R A
4.4 Repair wooden porch I C R C
4.5 Repair wooden floor R C I A
4.6 Sand floor R R I C
4.7 Refinish (seal) floors, including
porch
A I C C
4.8 Paint ceilings C C R C
4.9 Paint doors I C R C
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4.10 Paint interior walls I C R A
4.11 Paint exterior walls R A C C
4.12 Wash exterior windows C C R C
4.13 Wash interior windows A A R C
4.14 Completion of the phase I C R A
5 Project Closure Phase
5.1 Paying the local contractors R C I I
5.2 Paying the apprentices I C R C
5.3 Completion of project closure
phase
R A C A
6 End Project R R I CRACI Key: (R) Responsible, (A) Accountable, (C) Consult, (I) Inform
5 Topic 5: Scheduling projects
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5.1 AoN
(Figure 1: Activity Node Diagram for Renovation Project)
(Source: Created by author)
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5.2 Time estimation
WBS
Code
Activity Name Predecessor(s) Duration
(hours)
Explanation on duration
0 Renovation project for
Beachside Cottage
During this phase, the
specifications for the project
would be defined and different
types of data would be gathered.
1 Start of Project 0
2 Initial planning and
requirement gathering
48 During this phase, different forms
of planning would be made over
the project.
2.1 Site visiting and inspection 1 32 The owner of the cottage would
look into the details of the cottage.
2.2 Analysis of site and
feedback gathering
3 0 After visiting the hose, the owners
would provide their own analysis
of the site, which would help the
contractors to define their own
plans.
2.3 Proposing the design of
financial plan
4 16 In this phase, the planning for the
financial part would be made
within this phase.
2.4 Approval the financial plan 5 0 The Airbnb Officials would approve
the financial plan after a proper
form of analysis of the plan.
2.5 Completion of the phase 6 0 In this phase, the entire
completion of the phase would be
performed.
3 Procurement of Resources 10 During this phase, the
procurement for each of the
resources would be made within
the project. This would ensure the
start of the project.
3.1 Bringing the supplies
required for renovation
6 10 During this phase, each of the
items meant for supply would be
brought for renovating the
cottage.
3.2 Completion of the phase 7, 9 0 The procurement phase would be
completed after each of the listed
items would be procured for the
renovation work.
4 Renovation Phase 56 After the items are procured, the
phase of renovation would begin.
Each of the schedule of the work
would be performed in proper
order.
4 Hang new curtains 10 8 The proper and appropriate
curtains would be set in place
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according to the requirement of
the owner.
4.1 Repair wooden shutters 9 8 The wooden shutters would be
repaired properly after a proper
planning on the repairing work
would be done.
4.2 Paint shutters 13 8 After the shutters have been
repaired, the apprentices would be
responsible for painting the
shutters as per the
recommendation of the owner.
4.3 Hang shutters 14 8 After the shutters would dry, they
would be hanged in the frame.
4.4 Repair wooden porch 12 16 Based on the needs of the owner,
the wooden porch would be
replaced.
4.5 Repair wooden floor 15 8 The floor of the cottage would be
made as attracting as the other
parts. This might highly attract the
tourists.
4.6 Sand floor 16 8 Proper amount of planning for
designing the sand floor would
need to be made in order to
ensure that the sand floor would
be made as accurate.
4.7 Refinish (seal) floors,
including porch
18 8 After the initial works over
renovation would be made, there
would be a refinishing of the floors
and porch in order to ensure that
they are designed as per the
requirement.
4.8 Paint ceilings 17, 18, 19 8 After the previous parts have been
designed, the ceilings would be
painted.
4.9 Paint doors 19 8 The doors would be painted in
simultaneous manner during the
time in which the ceilings would
be painted.
4.10 Paint interior walls 19 8 The interior walls would also be
painted simultaneously with the
painting of ceilings.
4.11 Paint exterior walls 19 8 The exterior walls would also be
painted simultaneously with the
painting of ceilings.
4.12 Wash exterior windows 21, 22, 23, 20 8 After each of the inner works have
been completed, the exterior
windows would be washed in
order to clean them properly.
4.13 Wash interior windows 23 8 The interior windows would also
be washed in order to clean from
the dust created during the
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renovation phase
4.14 Completion of the phase 24, 25 0 After the completion of the
previous phases, the entire
renovation phase would get
completed.
5 Project Closure Phase 0 During this phase, the payments
would be cleared and then the
entire project would get over.
5.1 Paying the local contractors 26 0 In this phase, the local contractors
would be paid with their wages.
5.2 Paying the apprentices 26 0 In this phase, each of the
apprentices would be paid for
their efforts.
5.3 Completion of project
closure phase
28, 29 0 After the payments have been
cleared, the completion of project
would commence
6 End Project 30 0 During this phase, the Beachside
cottage would be made ready for
the tourists. The entire project
would be completed successfully.
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5.2.1 Time estimation – Enumeration method
ID Outline
Number
Task
Mode
Task Name Duration Start Finish
0 0 Renovation project for
Beachside Cott age
114 hrs Mon 17-06-19 Fri 05-07-19
1 1 Start of Project 0 hrs Mon 17-06-19 Mon 17-06-19
2 2 Initial planning and
requirement gathering
48 hrs Mon 17-06-19 Mon 24-06-19
3 2.1 Site visiting and
inspection
32 hrs Mon 17-06-19 Thu 20-06-19
4 2.2 Analysis of site and
feedback gathering
0 hrs Thu 20-06-19 Thu 20-06-19
5 2.3 Proposing the design of
financial plan
16 hrs Fri 21-06-19 Mon 24-06-19
6 2.4 Approval the financial
plan
0 hrs Mon 24-06-19 Mon 24-06-19
7 2.5 Completion of the phase0 hrs Mon 24-06-19 Mon 24-06-19
8 3 Procurement of Resources 10 hrs Tue 25-06-19 Wed 26-06-19
9 3.1 Bringing the supplies
required for renovation
10 hrs Tue 25-06-19 Wed 26-06-19
10 3.2 Completion of the phase0 hrs Wed 26-06-19 Wed 26-06-19
11 4 Renovation Phase 56 hrs Wed 26-06-19 Fri 05-07-19
12 4.1 Hang new curtains 8 hrs Wed 26-06-19 Thu 27-06-19
13 4.2 Repair wooden shutters 8 hrs Wed 26-06-19 Thu 27-06-19
14 4.3 Paint shutters 8 hrs Thu 27-06-19 Fri 28-06-19
15 4.4 Hang shutters 8 hrs Fri 28-06-19 Mon 01-07-19
16 4.5 Repair wooden porch 8 hrs Thu 27-06-19 Fri 28-06-19
17 4.6 Repair wooden floor 16 hrs Mon 01-07-19 Wed 03-07-19
18 4.7 Sand floor 8 hrs Fri 28-06-19 Mon 01-07-19
19 4.8 Refinish (seal) floors,
including porch
8 hrs Mon 01-07-19 Tue 02-07-19
20 4.9 Paint ceilings 8 hrs Wed 03-07-19 Thu 04-07-19
21 4.10 Paint doors 8 hrs Tue 02-07-19 Wed 03-07-19
22 4.11 Paint interior walls 8 hrs Tue 02-07-19 Wed 03-07-19
23 4.12 Paint exterior walls 8 hrs Tue 02-07-19 Wed 03-07-19
24 4.13 Wash exterior windows 8 hrs Thu 04-07-19 Fri 05-07-19
25 4.14 Wash interior windows 8 hrs Wed 03-07-19 Thu 04-07-19
26 4.15 Completion of the phase0 hrs Fri 05-07-19 Fri 05-07-19
27 5 Project Closure Phase 0 hrs Fri 05-07-19 Fri 05-07-19
28 5.1 Paying the local
contractors
0 hrs Fri 05-07-19 Fri 05-07-19
29 5.2 Paying the apprentices 0 hrs Fri 05-07-19 Fri 05-07-19
30 5.3 Completion of project
closure phase
0 hrs Fri 05-07-19 Fri 05-07-19
31 6 End Project 0 hrs Fri 05-07-19 Fri 05-07-19
17-06
Owner
20-06
24-06
24-06
Supplies[1],Contractor
26-06
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice II
Apprentice II
Apprentice I,Apprentice II
Apprentice I,Apprentice I
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice II, Apprentic
Apprentice II, Apprentice
Apprentice II, Apprentice
Apprentice II, Apprentice
Apprentice II,Apprent
Apprentice II, Apprentic
05-07
05-07
05-07
05-07
05-07
05-07
M T S W S T F M T S W S T F M T S W S T F
13 May '19 20 May '19 27 May '19 03 Jun '19 10 Jun '19 17 Jun '19 24 Jun '19 01 Jul '19 08 Jul '19
(Figure 2: Project Schedule)
(Source: Created by author)
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5.2.2 Time estimation – Two Pass method
0
1
0
32 0 16 0 0 31
3 4 5 6 7
0
10
10
9
8 8 8 8 8 8 0
12 16 18 19 21 24 26
8
22
8 8 8 16
13 14 15 17
8 8
23 25
0 0
8 28 30
20
0
29
(Figure 3: Two-Pass Schedule for Renovation Project)
(Source: Created by author)
5.3 Critical path
Identify the critical path in your project:
The critical path in my project is 114 hours.
5.4 Gantt chart
The Gantt chart would be helpful in viewing each of the tasks that would be helpful for performing
within the project. The Gantt chart shows the duration for each of their phase of the project. These
are defined as start date and finish date for each of the phase of the project. Gantt chart helps in
defining the various tasks and their listing in proper order. Hence, such kind of organizing of tasks
would be highly helpful in assisting within the project.
6 Topic 6: Resources and budgeting
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6.1 Resource Loading
ID Outline
Number
Task
Mode
Task Name Duration Start Finish Predecessors Resource Names Cost
0 0 Renovation project for
Beachside Cott age
114 hrs Mon 17-06-19 Fri 05-07-19 $19,790.00
1 1 Start of Project 0 hrs Mon 17-06-19 Mon 17-06-19 $0.00
2 2 Initial planning and
requirement gathering
48 hrs Mon 17-06-19 Mon 24-06-19 $0.00
3 2.1 Site visiting and
inspection
32 hrs Mon 17-06-19 Thu 20-06-19 1 Owner $0.00
4 2.2 Analysis of site and
feedback gathering
0 hrs Thu 20-06-19 Thu 20-06-19 3 $0.00
5 2.3 Proposing the design of
financial plan
16 hrs Fri 21-06-19 Mon 24-06-19 4 $0.00
6 2.4 Approval the financial
plan
0 hrs Mon 24-06-19 Mon 24-06-19 5 Owner $0.00
7 2.5 Completion of the phase0 hrs Mon 24-06-19 Mon 24-06-19 6 $0.00
8 3 Procurement of Resources 10 hrs Tue 25-06-19 Wed 26-06-19 $8,750.00
9 3.1 Bringing the supplies
required for renovation
10 hrs Tue 25-06-19 Wed 26-06-19 6 Supplies[1],Contractor$8,750.00
10 3.2 Completion of the phase0 hrs Wed 26-06-19 Wed 26-06-19 7,9 $0.00
11 4 Renovation Phase 56 hrs Wed 26-06-19 Fri 05-07-19 $11,040.00
12 4.1 Hang new curtains 8 hrs Wed 26-06-19 Thu 27-06-19 10 Apprentice
I,Apprentice II
$800.00
13 4.2 Repair wooden shutters 8 hrs Wed 26-06-19 Thu 27-06-19 9 Apprentice
I,Apprentice II
$800.00
14 4.3 Paint shutters 8 hrs Thu 27-06-19 Fri 28-06-19 13 Apprentice II $320.00
15 4.4 Hang shutters 8 hrs Fri 28-06-19 Mon 01-07-19 14 Apprentice II $320.00
16 4.5 Repair wooden porch 8 hrs Thu 27-06-19 Fri 28-06-19 12 Apprentice
I,Apprentice II
$800.00
17 4.6 Repair wooden floor 16 hrs Mon 01-07-19 Wed 03-07-19 15 Apprentice
I,Apprentice II
$1,600.00
18 4.7 Sand floor 8 hrs Fri 28-06-19 Mon 01-07-19 16 Apprentice
I,Apprentice II
$800.00
19 4.8 Refinish (seal) floors,
including porch
8 hrs Mon 01-07-19 Tue 02-07-19 18 Apprentice
I,Apprentice II
$800.00
20 4.9 Paint ceilings 8 hrs Wed 03-07-19 Thu 04-07-19 17,18,19 Apprentice
II,Apprentice I
$800.00
21 4.10 Paint doors 8 hrs Tue 02-07-19 Wed 03-07-19 19 Apprentice
II,Apprentice I
$800.00
22 4.11 Paint interior walls 8 hrs Tue 02-07-19 Wed 03-07-19 19 Apprentice
II,Apprentice I
$800.00
23 4.12 Paint exterior walls 8 hrs Tue 02-07-19 Wed 03-07-19 19 Apprentice
II,Apprentice I
$800.00
24 4.13 Wash exterior windows 8 hrs Thu 04-07-19 Fri 05-07-19 21,22,23,20 Apprentice
II,Apprentice I
$800.00
25 4.14 Wash interior windows 8 hrs Wed 03-07-19 Thu 04-07-19 23 Apprentice
II,Apprentice I
$800.00
26 4.15 Completion of the phase0 hrs Fri 05-07-19 Fri 05-07-19 24,25 $0.00
27 5 Project Closure Phase 0 hrs Fri 05-07-19 Fri 05-07-19 $0.00
28 5.1 Paying the local
contractors
0 hrs Fri 05-07-19 Fri 05-07-19 26 $0.00
29 5.2 Paying the apprentices 0 hrs Fri 05-07-19 Fri 05-07-19 26 $0.00
30 5.3 Completion of project
closure phase
0 hrs Fri 05-07-19 Fri 05-07-19 28,29 $0.00
31 6 End Project 0 hrs Fri 05-07-19 Fri 05-07-19 30 $0.00
17-06
Owner
20-06
24-06
24-06
Supplies[1], Contractor
26-06
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice II
Apprentice II
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice I,Apprentice II
Apprentice II,Apprentice I
Apprentice II,Apprentice I
Apprentice II,Apprentice I
Apprentice II,Apprentice I
Apprentice II,Apprentice I
Apprentice II,Apprentice I
05-07
05-07
05-07
05-07
05-07
05-07
M T S W S T F M T S W S T F M T S W S T F
13 May '19 20 May '19 27 May '19 03 Jun '19 10 Jun '19 17 Jun '19 24 Jun '19 01 Jul '19 08 Jul '19
(Figure 4: Resource Loading for Repair Project)
(Source: Created by author)
6.2 Budget
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Requirement Gathering and Analysis 0
Purchasal Phase of Resources 8750
Start of the Repair Phase 11040
Project Closure Phase 0
Total Cost for the project 19790
Total Cost for the project
(Figure 5: Total Costs for Renovation Project)
(Source: Created by author)
Year of Project
year 0 year1 year 2 year 3 year 4 year 5 TOTALS
Net economic benefit $0.00 $8,000.00 $8,000.00 $8,000.00 $8,000.00 $8,000.00
Discount Rate 8% 1 0.9259 0.8573 0.7938 0.7350 0.6806
PV Of Benefits $0.00 $7,407.41 $6,858.71 $6,350.66 $5,880.24 $5,444.67
NPV of all BENEFITS $0.00 $7,407.41 $14,266.12 $20,616.78 $26,497.01 $31,941.68 $1,00,729.00
One Time Costs $8,750.00
Recurring Costs $0.00 $500.00 $500.00 $500.00 $500.00 $500.00
Discount Rate 8% 1.0000 0.9259 0.8573 0.7938 0.7350 0.6806
PV Of Recurring Costs $0.00 $462.96 $428.67 $396.92 $367.51 $340.29
NPV Of All Costs $8,750.00 $9,212.96 $9,641.63 $10,038.55 $10,406.06 $10,746.36 $58,795.56
Overall NPV $41,933.43
Overall ROI = (Overall NPV / NPV Of All Costs 0.71
Break-Even Analysis
Yearly NPV Cash Flow $0.00 $6,944.44 $6,430.04 $5,953.74 $5,512.72 $5,104.37
Overall NPV Cash Flow $8,750.00 ($1,805.56) $4,624.49 $10,578.23 $16,090.95 $21,195.33
Project break-even occurs between years 2 and 3
Use 1st year of positive cash flow to calculate break-even fraction 2.7767 years
(Figure 6: Payback period for Renovation Project)
(Source: Created by author)
6.3 Reporting
6.3.1 Earned Value Management (EVM)
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1 2 3 4 5 6 7 8 9 10 11 12
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000 Planned Value (PV)
Earned Value (EV)
Actual Cost (AC)
Period
(Figure 7: Earned Value Management (EVM) for Renovation Project)
(Source: Created by author)
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6.3.2 Timeline reporting
Project name: Renovation project for Beachside Cottage Date: 16th May, 2019
Past time period
Milestones Approved plan Actual progress Variances Causes
Start of Project Owner, Airbnb Officials The project has commenced
after formal approval
Scheduled variance Help in defining the entire
project
Analysis of site and
feedback gathering
Owner The site analysis has started Scheduled variance
Approval the financial plan Owner The financial plan has been
approved after proper
analysis over the project
Scheduled variance
Completion of the initial
planning phase
Owner, Airbnb Officials The phase has been
successfully achieved.
Scheduled variance
Completion of the
procurement phase
Contractor, Owners This phase would be
completed after each of the
items have been procured
Scheduled variance
Completion of the
renovation phase
Contractor, Owners The renovation phase would
begin
Scheduled variance
Completion of project
closure phase
Owners This phase would
commence after the
renovation phase
Scheduled variance
Current time period Plan until next report Risks before next report Issues before next report Changes to be approved
Analysis of site and
feedback gathering
The owner would make a
brief analysis over the site
and thus prepare a plan for
the design aspects.
No such risks have been
identified
No issues have been
reported
Slight changes in terms of
analysis might be possible
Proposing the design of
financial plan
The financial plan for the
project would be designed
only after a formal approval
from the Airbnb officials.
No such risks have been
identified
No issues have been
reported
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Future time period
Milestones Plan to Completion Risks After next Report Issues After Next Report
Paying the local contractors Each of the payments would
have to be done after their
work.
No risks are determined
after the completion phase
Delay in completion of
project
Paying the apprentices Each of the payments would
have to be done after their
work.
No risks are determined
after the completion phase
Delay in completion of
project
Completion of project
closure phase
Owner, Airbnb Officials Risks might occur in the
delaying of activities
Delay in completion of
project
End Project Owner, Airbnb Officials Nor risks determined Delay in completion of
project
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7 Topic 7: Risk management
7.1 Risk identification I
Risk Register
Risk Description Impact Category Probability
(1 to 5)
Impact
(1 to 5)
Score
(P*I)
Mitigation Strategy
1. Issues might arise
during the site analysis
phase
Delay in
completion of
project
Technical 3 4 12 The site analysis should immediately begin after a
proper approval from the Airbnb officials
2. Procuring the listed
items
Delay in start of
the project
Financial 2 3 6 Preparing the list of items and sending it to the
supplier.
3. Delay in completion
of project
Delay in project
delivery
Technical 5 4 20 Preparing a schedule for each of the activity before
the start activity
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8 Topic 8: Quality management & project closure
8.1 Quality tools
Identify at least three quality tools based on the above list that are applicable to your project and
explain why.
Quality tool Explanation why
1. Flow chart Helps in listing the activities in a proper order and leads to proper
progress of task activities.
2. Gantt chart This tool helps in listing each of the activities along with their time
required. The date for each of the activity would also be listed.
3. Fishbone diagram They would list the cause of any problem and also list the effects that
might be caused.
Project
Deliverables
Work Processes Quality Control
Activities
Quality
Assurance
Activities:
Quality Roles and
Responsibilities:
1. Project
management
plan
Schedule of each
project task
Ensuring a proper
functioning of
business activity
Scheduled
analysis
Owner
2. Weekly update
reports
Update on each
activity done for
the project.
Preventing from
scope creep
Scheduled
analysis
Contractor
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8.2 Change management Page
Project: Renovation project for Beachside Cottage Date: 16th May, 2019 Person Proposing Change:
Owners
Description of Change:
Changes need to be made over the project schedule. Some activities could be linked together in
order to reduce the time taken fir project completion.
Why needed:
The change is needed for maintaining the time and costs of the project.
Impact on project scope:
No kind of changes would be made over the project scope
Impact on deadline dates:
The dates meant for deadline would be shifted in proper order thus impacting the project
completion time.
Impact on budget:
The budget might get exceeded as resources would need to be increased.
Impact on quality:
The quality of project would remain intact.
Impact on risk:
The risks within each of the phase might be lessened.
Impact on team:
The effort within the team would be improved and thus bringing a better impact for the project.
Date approved:
Project manager Sponsor Customer
_______________ _______________ _______________
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9 Project close
Project: Renovation project for Beachside Cottage Date: 16th May, 2019 Prepared by: Owner
Item Who Target
date
Completion
date
Paying the local contractors Airbnb officials,
Owner
Fri 05-07-
19
Fri 05-07-
19
Paying the apprentices Owner Fri 05-07-
19
Fri 05-07-
19
Approved for closeout:
__________________________________ ________________________________
Project Manger Sponsor / CEO / Customer
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9.1 Transition plan
Project Transition Plan
Project: Renovation project for Beachside Cottage Date: 16th May, 2019 Prepared by: Owner
Current Project Situation:
Each of the activities have been completed in proper sequence and thus the project would be
completed successfully.
Schedule of Remaining Work:
Thu 04-07-2019 to Fri 05-07-19
Risks Remaining:
There are no such risks that would remain after the completion of the project.
Recommendations to Users of Project Deliverables:
(Documentation, training, help)
Each of the team members should properly understand the requirements and thus they should
maintain the documentation of the project.
Relevant contacts:
1. _________________________________________
2. _________________________________________
3. __________________________________________
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9.2 Close procurements
What needs to be taken into account to appropriately manage procurements closure?
Final expectation of people affected from the project should be met properly. This would lead to
successful project completion.
9.3 Knowledge management
How will you capture knowledge discovered during your project, and what do you need to keep?
The knowledge areas gathered should be used successfully for the completion of the project.
9.4 Lesson learned
Once again, revisit the Charter Lessons Learned and consider how these can be strengthened.
Each of the detected risks should be properly analysed and thus be mitigated accordingly.
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9.5 Customer feedback
Project Customer Feedback
Project: Renovation project for Beachside Cottage Customer _________________________
Date: 16th May, 2019
Item Rating (1=poor;
2=OK; 3=Excellent)
Comments – how can we improve?
Quality of deliverables 3 No changes requrired
Compliance with schedule 2 Understanding the requriements of the
owner
Budget performance 3 No changes requrired
Stakeholder relationship
management
3 No changes requrired
Communciation
management
2 No changes requrired
Overall rating 3 The project should be completed without any
risks.
Comments:
The project would be completed successfully without any kind of risks.
Outstanding issues:
No issues were further detected during the design phase
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9.6 References:
Kloppenborg, TJ 2015,
Contemporary project management, 3 edn, Cengage Learning, Stamford, CT.
Kloppenborg, TJ, Anantatmula, V & Wells, KN 2018,
Contemporary Project Management, 4 edn,
Cengage Learning, Boston, MA, USA.
Notes:
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9.7 Bibliography
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Sciences,
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Brayham, A., 2015. Never stop improving: The complexity and contradictions of DIY home renovating
as a serious leisure pursuit.
Loisir et Société/Society and Leisure,
38(1), pp.88-99.
Brioso, X., 2015. Integrating ISO 21500 guidance on project management, lean construction and
PMBOK.
Procedia Engineering,
123, pp.76-84.
Buser, M. and Carlsson, V., 2017. What you see is not what you get: single-family house renovation
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Kerzner, H. and Kerzner, H.R., 2017.
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Kloppenborg, TJ 2015,
Contemporary project management, 3 edn, Cengage Learning, Stamford, CT.
Kloppenborg, TJ, Anantatmula, V & Wells, KN 2018,
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Nicholas, J.M. and Steyn, H., 2017.
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