Principals of Project Management

Running head: PRINCIPALS OF PROJECT MANAGEMENT
PRINCIPALS OF PROJECT MANAGEMENT
Name of the Student
Name of the University
Author Note

PRINCIPALS OF PROJECT MANAGEMENT
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Table of Contents
Introduction:.......................................................................................................... 2
Part A:.................................................................................................................... 3
Description of successful project:.......................................................................3
Description of failed project:.............................................................................. 3
Reason for project failure:..................................................................................3
Part B:.................................................................................................................... 5
Project scope:..................................................................................................... 5
Project budget:................................................................................................... 7
Project schedule:................................................................................................ 8
Project triple constraints:....................................................................................8
Part C:.................................................................................................................... 8
Relation between project management and project leadership:........................8
Importance of managing skills:.......................................................................8
Concept of leadership skills:............................................................................9
Conclusion:.......................................................................................................... 11
References:.......................................................................................................... 13

PRINCIPALS OF PROJECT MANAGEMENT
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Introduction:
In this report, a successful project has been described along with the project that has
failed miserably. Analysing these two projects shows that in the first project that has become
successful there was a great amount of planning and execution involved. however in the
second project, which was not successful, there was a lack of strategic planning and
execution. The report has analysed the importance of project planning and execution of that
plan in accordance with project management principles. In order to explain this particular
concept of project planning and execution two projects has been identified in this report one
is construction of Port Mann Bridge in Vancouver and another is expansion of trend
Corporation in Canadian market. The first project is a successful one while second project is
an example of a file project. Both of this project has been analysed in detailed to identify the
application of Project Management concept of project planning and execution.
This report has analysed concept of project budget and schedule along with theoretical
description of this to concept according to PMbok knowledge guide. Explanation have also
been provided to describe application of these concepts in actual projects for this purpose a
project of online shopping website design has been considered.
Concept of triple constraint in project management has also been described and for
this purpose, a construction project has been considered to apply this theoretical knowledge
into project management execution. The concept of project management and leadership skills
is described as well and the relation between these two is provided. In order to demonstrate
the application of this concept construction project is considered in this report. The overall
Summary has been provided in the conclusion of the report for providing a brief and
comprehensive overview of the entire content for providing clarity on the assignment.

PRINCIPALS OF PROJECT MANAGEMENT
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Part A:
Description of successful project:
The project that is considered in this report is the construction of Port Mann Bridge,
Vancouver, B.C. it is the widest bridge in the world and the second longest bridge in North
America. The bridge was opened in 2012 for the public. It has become one of the largest
construction projects that have been successfully completed in the history of Vancouver and
America. it was such a complex project that there was always a chance for the project to
become less successful. However, successful Project Planning along with strategic project
execution has made this project successful one and shows that no matter how complex a
project is if it is properly planned and executed, there is always scope for ensuring success in
the project execution.
Description of failed project:
In this context, a famous project will be analysed that failed miserably.
The expansion of targets brand in Canadian market is a multi-billion-dollar project that was a
complete disaster from the project management point of view. Target Corporation is the
second largest retailer in the United States and only after the retail giant Walmart specialising
in discount retailing as demand for discount retailing in Canada was so high that target
decided to expand their operations in Canada apart from USA market where there is a
dominant player in this segment.
Reason for project failure:
In order to enter into the Canadian market and set the retail, target Corporation made a
deal with Zellers and acquired 189 leases which help them in establishing 189 brand new
shops across Canada it is threatened the competitors in this process 2 with becoming number
1 trailer in the Canadian market with discount retailing.