Undertake Project Work

Running head: PM
Undertake Project Work
Name of Student
Name of University
Author Note

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Table of Contents
Answer 1..............................................................................................................................2
Answer 2..............................................................................................................................2
Answer 3..............................................................................................................................3
Answer 4..............................................................................................................................3
Answer 5..............................................................................................................................5
Answer 6..............................................................................................................................7
References............................................................................................................................9

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Answer 1
Flow charts can be considered as a tool for project management, as it is effective in
displaying stage by stage progression of a series of task or task sequence. Flow charts offer a
clear depiction of the processes that are followed for improving the project efficiency. It is an
effective PM tool since it helps in effective monitoring of the project progress and effective
status reporting1. This tool is generally used by the manager to control the execution of any
undertaken project. Flow charts are used for outlining the initiation process and the tasks to be
completed for successful execution of the project.
Answer 2
The delegating authority of a project is generally responsible for setting the different
project parameters. The delegating authority helps in setting up the project budget and is also
responsible for setting up the schedule of the project. The parameters related to budget and
human resources are of significant importance as it can significantly affect the normal delivery
process of the undertaken project.
The parameters connecting to human resources, budget and timeline can have a
significant influence on the project distribution mainly because if the budget is not set properly,
the project might face a premature closure. Also, if a realistic schedule is not set by the
delegating authority, it would not be possible for the project team to finish the project within the
stipulated time impacting the normal delivery of the project. Inappropriate estimation of the
resources needed in a project can affect its completion. The unavailability of the human
resources during the execution of the project can affect its timely delivery and can result in
1 Dao, B., Kermanshachi, S., Shane, J. and Anderson, S., 2016. Project complexity assessment and
management tool. Procedia Engineering, 145, pp.491-496.

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project delay2. Therefore, setting the project parameters has a direct influence on the timely
delivery of the project and also delivery of the same in accordance to the plan.
Answer 3
The project risk can be defined as the uncertainties or issues that can affect a project in a
negative manner. The project risk if occurs in a project generally affects at least one project
objective. The management of the project risk therefore becomes a necessity. A planned
procedure of managing the risk is generally followed for managing any type of project risks. An
effective risk management technique mainly contains a number of stages which include
identification of the key project risks, investigation and prioritization of the risk and mitigation
or treating the risk. Several tools are used for management of the project risks, such as risk
register to record the risk and its impact on the project3. The risk management process does not
end with mitigation of the risk as risk monitoring is an important part of ensuring that the risk
does not return to the project. Effective supervision of the tasks and monitoring of the project
progress is necessary to address that all the issues in the project are mitigated. Risk management
therefore play a critical role in ascertaining project success. Assessment and management of risk
is necessary to ensure that the undertaken project is on track and is able to meet its goals.
Answer 4
Mission statement of a company generally defines the business process of the company
along with the objectives and the approach undertaken to reach those objectives. A vision
2 i Vidal, J.B. and Möller, M., 2016. Project selection and execution in teams. The RAND Journal of
Economics, 1(47), pp.166-185.
3 Kliem, R.L. and Ludin, I.S., 2019. Reducing project risk. Routledge.