Project Management and Selection Methods

The assignment discusses project management and selection methods, highlighting the importance of effective communication, planning, and coordination in achieving successful outcomes. The document examines two project reviews, one from Nestle and the other from an unknown source, providing insights into project strengths, weaknesses, opportunities, and threats. It also explores the benefits of using cost-benefit analysis as a project selection method.

PRINCIPLES OF
PROJECT
MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
PROJECT MANAGEMENT ..........................................................................................................3
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5
Project 1 review...............................................................................................................................6
Project 2 review...............................................................................................................................6

INTRODUCTION
Project management refers to the practice which resulting in managing the overall project
by initiating, executing, monitoring and controlling the activities. This helps in meeting the
specific goals and achieve targets within the stipulated time (Walker, 2016). Present report is
based on project which is managed by Nestle company and establishing new project specially for
tourist to boost their energy at the time of travelling. The project is named as Nestle “Big Milo
Tin” which is a chocolate drink mostly demand by people. In this report it will incudes the
project selection methods and its competencies to execute the project effectively.
PROJECT MANAGEMENT
In respect of global project management, the project is to be initiated around the world
and this can be accomplished by working as team. Thus, the procedure which is used in
respective of analysing the personal traits and competencies are in relation to conducting the
effective communication with team mates (Shah, 2016). As majorly the issue arises in respect of
not discussing the problems or not sharing any ideas through which they accomplish the task in
better way. Company stability depends upon using various strategies and business tactics so that
if their is failure in any task they are prepared with their back up plans. It is important to manage
the project in effective way and this can be done by providing the open door facility, so that the
employees can easily communicate with them without any barriers raised by superiors (Thiry,
2016).
In the concept of choosing the project which is initially executed in Australia is related to
Nestles “Big Milo Tin”. The employees of nestle company are working on this project which is
related to chocolate drink which is highly on demands by people (Jia & et.al., 2019). In this
project, they initiated to execute this project in 2018 and decided to launch in 2019 on their 83rd
anniversary of nestle company (Nestle announce construction of Australia’s next tourist
attraction: the big Milo tin, 2017). Before executing this project they set the target on the bases
of their launching dates and their main focus is on launching their drink is to attract tourist and
accordingly the planning is executed. In respect of choosing the project selection method, they
mainly focused on preferring the cost benefits measurement method in which they set the
appropriate budgets regarding every activities such as raw material, need of human resources,
equipments, management team and also taxes (Ibrahim, Thorpe & Mahmood, 2019). Thus, in

such perspective selection methods is important in project management and for that it is to be
executed with effective planning, so that better results are to be determined.
CONCLUSION
From the above report it is concluded that project management cover under various
perspective such as providing quality services, timely delivery of products and also effective
communication. In this report cost is the best selection method through which company can
make budgets which helps them to sustain in market for longer time period. They can also
execute their selection methods by conducting research through which the interpret various facts
and information. Nestle company project helps in determining the strategies before executing the
project and also enhances the communication scale to work as team to achieve targets within the
set time.

REFERENCES
Books and Journals
Ibrahim, M. N., Thorpe, D., & Mahmood, M. N. (2019). Risk factors affecting the ability for
earned value management to accurately assess the performance of infrastructure projects in
Australia. Construction Innovation.
Jia, A. Y. & et.al., (2019). Institutional logics of processing safety in production: The case of
heat stress management in a megaproject in Australia. Safety Science. 120. 388-401.
Shah, R. K. (2016). An Exploration Of Causes For Delay And Cost Overrun In Construction
Projects: A Case Study Of Australia, Malaysia & Ghana. Journal of Advanced College of
Engineering and Management. 2(1). 41-55.
Thiry, M. (2016). Program management. Routledge.
Walker, D. H. (2016). Reflecting on 10 years of focus on innovation, organisational learning and
knowledge management literature in a construction project management
context. Construction Innovation. 16(2). 114-126.
Online
Nestle announce construction of Australia’s next tourist attraction: the big Milo tin. 2017.
Online. Available Through: <http://food.theaureview.com/news/nestle-announce-
construction-of-australias-next-tourist-attraction-the-big-milo-tin/>.

Project 1 review
The strength which I examined is related to carrying the good communication skills
which is needed in project, so that they can identify the accurate goal. The weakness which I
found is relating to not balancing the work and also not have appropriate knowledge regarding
accomplishing the task. From my point of view, they uses the benefits selection projects methods
which is beneficial for them in analysing the cost which his father invested in expanding the
business. As to enter into any project, managing cost is effective and for this study, I examined
that to covert the business from wholesale to retailer, it resulting in getting high profit margin.
Thus, this is the best selection method which I found to bring success in projects.
Project 2 review
From this report, the strength which I found is relating to having the good communication
skills as they the procedure which they used in school project is relating to questionnaire. They
raise question from the respondents in the form of mean statistics. Through this process, its also
indicate that he is good in statics. The weakness which I came across is relating to not
interpreting the correct results from the available data. As the results which they carried out is
not accurate and also not carry adequate knowledges regarding conducting the research. From
the content which they mentioned regarding the project management, I find that they carry
sufficient knowledges. They are also familiar with the company regarding initiating the new
project and manage its effectively. They carries the sufficient knowledges regarding the project
selection method and its benefits in using the method. From this project, it also examined that
planning and coordination is major aspects and also project manager carry certain skills to
manage the project to get effective results.