Project Management Techniques and Strategies

This assignment delves into the world of project management, exploring various techniques and strategies to ensure successful project implementation. It covers risk controlling methods such as avoidance, loss prevention, reduction, separation, duplication, and diversification, as well as strategies like avoidance, sharing, reduction, and retention. The assignment also touches on procurement procedures, including fixed price contracts, cost-reimbursable contracts, and time and material contracts. Additionally, it discusses make-or-buy analysis, a decision-making process that helps determine whether to manufacture a product in-house or purchase it from an external supplier.

PROBLEM BASED PROJECT
MANAGEMENT PLAN

Table of Contents
EXECUTIVE SUMMARY.............................................................................................................1
BACKGROUND.............................................................................................................................1
a. Needs for improvement......................................................................................................1
b. Approaches, technologies relevant to the project...............................................................1
EVALUATION OF ALTERNATIVES..........................................................................................2
a. Alternative solutions...........................................................................................................2
b. Criteria, ranking, rating used to develop project selection matrix.....................................2
c. Analysis of outcome...........................................................................................................5
PROJECT CONCEPT.....................................................................................................................5
a. Description of project.........................................................................................................5
b. Project objectives................................................................................................................5
c. Project requirements and deliverables................................................................................5
d. Key performance indicator.................................................................................................6
PROJECT FEASIBILITY...............................................................................................................6
a. Feasibility and sustainability of project..............................................................................6
b. Approval requires...............................................................................................................7
c. Project assumptions............................................................................................................7
d. Known constraints..............................................................................................................7
e. Possible improvements.......................................................................................................7
8. Project Stakeholders Management:..............................................................................................8
9. Project schedule management .....................................................................................................9
A) Mile stone for the project .................................................................................................9
B Gantt Chart..........................................................................................................................9
C) Work breakdown structure..............................................................................................11
Defining the way schedule will be managed during the project..........................................11
10. Project cost management ........................................................................................................12
A)Budget..............................................................................................................................12
C).Managing the costs during project ................................................................................13
11. Project quality management ....................................................................................................13
12. Project Risk management........................................................................................................14

A) Completing a risk register for the project including development issues and operational14
B ) Risk management matrix................................................................................................16
C. Information related to Risk management ........................................................................17
13. Project procurement ................................................................................................................17
A) Types of contracts required.............................................................................................17
B) Make or Buy analysis......................................................................................................18
C) Procurement management...............................................................................................19
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

EXECUTIVE SUMMARY
WRU is specialized in designing and manufacturing quality widgets. But die to
increasing demand and high competition it is unable to sustain in the market for longer duration.
WRU wants to gain competitive advantage by enhancing is production capabilities. Study
discusses the project, its requirements and deliverables. Furthermore, it explains weight scoring
model as alternative solution in order to meet the success. Project feasibility study is being
carrying out in this project. In addition, report describes stakeholder management, cost
management with respect to WRU project.
BACKGROUND
a. Needs for improvement
Widget's R Us Widgets' R Us (WRU) is the leading firm that produces quality widgets.
This industry is performing well and it has stable market situations. WRU has four major
department in the firm: accounting, sales, production and engineering. The designs that use by
the firm in manufacturing of widgets are effective and support the entity in providing low price
products to the consumers (Kerzner and Kerzner, 2017). Over a period of time demand has been
increased and competition has been enhanced. In such condition WRU is facing trouble because
average life cycle of the manufacturing the widgets is 12-15 months.
One of the major issue face by the firm that it is unable to meet the demand. Because
manufacturing time of product development in 12-15 month and in such longer duration it gets
fail to meet the high demand. Another problem in the workplace is it is unable to compete with
the dynamic market demand. Due to high competition WRU has to make changes in its
manufacturing process. Though, entity has made many innovations but still demand has not been
matched. Another issue in the workplace is poor internal communication. Poor monitoring is
another major problem in the business unit (Fleming and Koppelman, 2016). Due to poor
controlling and monitoring department heads blame other departments for the problem. They do
not take initiative to control over the issues.
b. Approaches, technologies relevant to the project
The main agenda of WRU is to sustain in the market for longer duration and gain
competitive advantage. But due to several issues it might get failed to meet with its objectives.
As it is identified that internal communication is the major problem in the firm. This
communication approach is highly relevant to the project. Quality of final product is high
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depended upon the internal communication between various departments. If production
department do not coordinate well with the engineering department then they will fail to identify
the basic feature of design (Walker, 2015). That is why they fail to manufacture the widgets in
less time. If they coordinate well with each others then it may help in minimizing errors and
reducing the production timing. This would be beneficial for the WRU in manufacturing the
widgets within 8 months and it will be able to meet with the demand. Furthermore, poor
monitoring is also relevant to the project of WRU. If department heads take responsibilities and
monitor the progress of each innovative idea properly then it would be beneficial for the
company in reducing errors and getting positive results. By this way it will be able to meet with
the insatiable demand (Meredith and et.al, 2016). As market is stable thus, if proper monitoring
and controlling has been implemented then entity will be able to implement innovative ideas in
effective manner. This will support in minimizing consequences and producing high quality
widgets. This is the way through which WRU can gain competitive advantage in the market.
EVALUATION OF ALTERNATIVES
a. Alternative solutions
In order to meet with the objective it is essential for the WRU that to take support of
alternative methods so that issues can be resolved ad entity can gain competitive advantage.
Weight scoring method would be considered as best approach that can help in minimizing issues
and improving condition of business unit (Binder, 2016). Cited firm first has to decide criteria
that needs to be consider on first priority. Project manager has to give weight to each criteria so
that importance of the factors can be realised in the project. Once weight score is being assigned
then they have to calculate the weight score. WRU has to first identify the requirements and has
to evaluate the criteria properly. This evaluation needs to be done fairly and in acceptable
manner. After deciding the criteria manager has to customize field by using appropriate software.
Once it has been customized then scoring needs to be done and then calculate the total scoring.
This will help the manager in identifying the factor that need to be consider first in order to meet
with the objective (Conforto and et.al, 2016).
b. Criteria, ranking, rating used to develop project selection matrix
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Project
Title
Strategic
connectio
n to
suppliers
to met
the
section
goals
Custom
ers
indicate
need for
improve
ment
Data
demo
nstrat
e that
a gap
exists
Small
scale-it
will
show
results
in 2-3
month
s
"Low
hangi
ng
fruit"
-it
will
prod
uce a
quick
win
and
gain
buy-
in
Major
effecti
ve
factor-
desper
ately
needs
impro
vemen
t
Strong
suppo
rt
from
involv
e
projec
t team
memb
ers
Strong
suppor
t from
depart
ment
heads
NPHII
focus* Do
not rank.
If
applicable
, review
focus
areas
listed
below.
Does
project
meet
criteria
(Yes or
No)?
Total
Score
To gain
compet
itive
advanta
ges 5 2 4 4 4 4 4 4 Y
31
To
reduce
manufa
cturing
time 3 3 4 3 4 4 4 3 Y
28
To
enhanc
e
commu
nicatio 3 2 3 4 3 2 3 3 Y
23
3

n
betwee
n
various
depart
ments
Raise
product
ion
capabil
ities to
meet
with
the
deman
d 5 5 5 3 3 5 5 5 Y
36
There are various criteria on which this project can be selected properly. All these
criteria help the project manager in making sound decision regarding selection of project. The
main objective of WRU is to gain competitive advantage, for that it has to make connection with
suppliers. 5 weight score or rank has been given to this criteria. Customers need to be indicated
this is another criteria that has been ranked 2. Gap needs to be identified so that it can be
measured that why innovative ideas are not giving accurate results (Zheng and et.al, 2016). This
has been scored 4. Furthermore, other criteria are quick checking, major effective factors that are
necessary for improvements, support from staff members and department head. Overall scoring
to this project has been given 31. Another objective is to reduce manufacturing time, for that
total scoring is 28. To enhance internal communication is another title that has been scored 23
whereas production capabilities enhancement has been scored 36. That describes that project
needs to be selected on these criteria and rating schemes (Layton and Ostermiller, 2017). By this
way WRU can become able to meet with its objective and will be able to gain competitive
advantage.
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c. Analysis of outcome
From the above selection matrix it has been analysed that above project is able to get
desired results. By taking into it has been identified that raising production capabilities and
gaining competitive advantage are two major projects that can support the WRU in gaining
optimistic results. If entity makes connection with the suppliers and find out the gap in
production then it would be beneficial for the entity in identifying the loop fall in the system. By
this way it would be able to enhance its capabilities and raising efficiency level in the production
(Meredith and et.al, 2016). Project manager has to look upon raising capabilities of production.
For that they have to continuously monitoring the progress. They have to take support of skilled
employees. By this way it will be able to meet with the demand and gain competitive advantage.
PROJECT CONCEPT
a. Description of project
The project is all about development of widgets in the WRU at less time with high
quality. This can help the entity in meeting with increasing demand and gaining competitive
advantage (Layton and Ostermiller, 2017).
b. Project objectives
The main project objective is to gain competitive advantage in the widget market.
Another aim of the project is to enhance production capabilities by reducing production time and
using innovative ideas.
c. Project requirements and deliverables
In order to complete this project WRU will require skilled human resource. These skilled
people are able to put hard efforts in order to raise production capabilities of the business.
Furthermore, Project requires, technical resources. By having adequate advance technologies'
entity will be able to enhance quality of products and will be able to meet with the demand.
Project manager will require time resource (Kerzner and Kerzner, 2017). It has to schedule
activities in appropriate manner so that project can get completed within specified period of time.
Project deliverables in the present project of WRU are well trained employees,
information that require to make changes in manufacturing process, money, equipments, proper
planning, software etc.
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d. Key performance indicator
The major key performance indicators (KPIs) in the present project of WRU are
described as below:
 Timeline
 Budget
 Quality
 Increment in profit
 Customer satisfaction.
All these KPI are able to measure success of project. If project manager has completed
the project within specified time and with quality. Then it would be considered as successful
project. Furthermore, if cost has been controlled and revenues of the WRU has been increased
then it can help the company in gaining success and meting with the objectives.
PROJECT FEASIBILITY
a. Feasibility and sustainability of project
Project of WRU is feasible and by gaining success in this project, WRU can gain
competitive advantage. Cited firm is required to improve production capabilities so that it can
meet with the increasing demand. Strength of the project are:
 Skilled team members
 Financial adequacy
 Strong command over market
Weakness of the project are described as below;
 Poor innovation and ineffective implementation
 Poor support from department head
 Project scope is too large
b. Approval requires
Project is required to be approved under Environment effects act 1978 and aboriginal
heritage act 2006. EES scoping requirements also require because concern authorities investigate
documents as per the guidelines of EPBC act.
c. Project assumptions
 Suitable staff are identified and involved in the project for competing it with quality and
time.
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 Adequate budget and cost has been arranged that can meet with the criteria.
 Cost-volume-profit relationship are liner
 Per unit cost will remain same
 Local suppliers of widget products will collaborate in planning activities.
d. Known constraints
 Size of demand in the widget market
 Existing suppliers
 nature of competition
 Forecasting for demand, supply and price
 Competitor analysis is difficult.
e. Possible improvements
 Improve productive capabilities
 Improve communication between various departments
 Improvement in monitoring and controlling by departmental heads.
 Reduction in cost
 Improvement in revenues
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8. Project Stakeholders Management:
Important stakeholder Stakeholder Roles
Project Client ’R Us Widgets The ’R Us Widgets is
specialises in delivering high
quality projects to the
customers.
Project Sponsor Project Manager It is the duty of project
manager to ensure the quality
of services and projects in
order to increase the level of
competencies advantages.
Project Champion Johnson Firm has gained popularity for
for render projects solutions for
the customers effectively and
efficiently.
Project Manager Jack The project manager is highly
qualified, knowledgeable and
full of ability in order to
manage and handle the large
projects effectively.
Product Activities Corporate Executive Top level
manageme
nt
Senior
suppliers
Project
manager
Team
leaders
Acceptanc obtained A A A R P
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e record
Descriptio
n of roles
done R
Approval
of records
Obtained
Benefits
Review
Plan
Approved A A R
Updation
of
Business
Case
Confirm R
Checkpoin
t Report
Created
9. Project schedule management
A) Mile stone for the project
Phases: there are several crucial activities have been performed by manager such as concept
design procurement, construction, development, testing and launch
Communication: Essential information related to project is required to be communicated to
stakeholders .
Decision: It includes selection of appropriate vendor for completion of project.
Design :It is considered to be essential miles of stone of project which is formed by manager of
organisation in order to measure the progress.
Resources : it us required by project manager to ensure proper utilisation of resources.
Process : Testing of project will be conducted in order to identify the performance gap which is
very much essential for achievement of desired outcome.
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B Gantt Chart
Task Name Duration Start Finish Predecessors
projection mapping 43 days Thu 5/16/18 Tue 7/18/18
Defining of Business
case 10 days Thu 5/17/18 05/29/18
Establishment of
objectives 5 days Thu 5/16/18 Wed 5/22/18
Identification of
barriers or risk 3 days Thu 5/23/18 Mon 5/27/18 2
Determine key
stakeholders 2 days Tue 5/29/18 Wed 5/30/18 3
Developing Plan for
big data Analytic 20 days Fri 5/24/18 Thu 6/20/18
Formulation of
strategy and setting
priorities
5 days Thu 5/30/18 06/05/18 3,4
Determining
requirement of
information
5 days Fri 5/24/18 Thu 5/30/18
Analysis of case 6 days 06/06/18 Thu 6/13/18 4,6
Estimation for need of
Resources 4 days Fri 6/1/18 06/07/18 7
Creating Budget 3 days Fri 6/14/18 Tue 6/18/18 8
Measuring success of
big data analytic 2 days Wed 6/19/18 Thu 6/20/18 10
Defining technical
requirement 18 days Thu 5/16/18 06/10/18
Installation of
technology 5 days Fri 6/21/18 Thu 6/27/18 10
Checking velocity and
analysis of information or
data
6 days Thu 5/16/18 Thu 5/23/18
Creating total
business value assessment 7 days Fri 6/28/18 07/08/18 13,14
Testing 5 days 07/09/18 Mon 7/15/18
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C) Work breakdown structure
Defining the way schedule will be managed during the project
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Information related to time management
Time management is defined as he procedure of planning and exercising conscious
control of time spent on specific activities, during the project. It allows manager to get work or
task complete on time.
10. Project cost management
A)Budget
Tasks Budget in millions
(Australian dollars)
% Change
Initiation phase in Project 1.4 10.17
Resource assemblage and
budget planning
2 20.56
System designing 5.6 30.15
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Development of systems 2.4 15.16
System testing 1.4 12.5
Closure and Transfer 1 8.33
Total Budget of Project 13.8 millions
C).Managing the costs during project
One of the techniques for controlling the cost is to prepare proper budget and work
accordingly. The other strategy is to prepare and implement earned value management. Training
to the staff will help project manager in ensuring efficient utilisation of resources as well as
funds.
11. Project quality management
items that will be measured during the planning, executing and
monitor/control phases of the project are fulfilling the expectations of departmental Staff as
well as end users.
B) measurable items and units of measure in a Quality
Two quality measures were identified these are, the project required to gain support from
departmental staff that wanted new system to provide added advantage and also needed support
from the external stakeholders.
Quality definition table
Name of
quality item
Standards
used for
measuring
quality
List of
acceptance
criterion
Quality
assurance
activities
Time frame Aspect of
reviewing
Timer frame
for audits
Fulfilling
the
expectations
of
New system
developed
existent
provision
Consent
shown by
employees
in different
approval
from higher
authorities,
Feedback
was
obtained
during
Communica
tion as well
as
discussion
Midway
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departmenta
l Staff
departments implementat
ion of
project
between
project
manager
and pother
team
manager
Meeting the
expectations
of external
stakeholders
Product is
required to
be user
friendly
High level
of
satisfaction
in customers
Consultation
or advice
from
customers
Midway
12. Project Risk management
A) Completing a risk register for the project including development issues and operational
Type of risk Reason of risk Nature of risk
Technological risk This kind of risk might occur
due to the wrong selection of
technology made by the project
management. Happening of
Technological risk also based
on the quality of infrastructure.
Lack of knowledge , technical
skills and training to
employees is another factor
which give rise to this sort of
risk.
Technical risk are manageable
in nature.
Human resource risk This sort of risk happen due to
inexperience, lack of
knowledge and training to
This kind of risk are also
controllable in nature.
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workers in an organisation. In
addition to this deficiency of
abilities as well as core
competencies in employees
can increase the chances of
risk.
Fiscal risk This form of risk might occur
due to inflexibly ,
overestimated , underestimated
and strict financial
budget .Such type of risk
includes the financial losses
suffered by an
enterprise when executing the
project.
This form of risk are
controllable in nature, there is
necessity of proper planning.
Scope risk It might occur due to
underrating of scope.
risk is controllable in
nature,there is necessity of
through analysis.
Time risk This sort of risk might occur in
situation when objective of
project are not achieved within
set time frame. It can also due
to the non-achievement in
completing the project on time.
Can be managed by choosing
as well as implementing time
management strategies.
Business risk It might occur because of
infrequent chances in the
requirements
Can be controlled by choosing
appropriate strategies.
Risk associated with
Operational issues are :
Such types of risks occur due
to ineffective operational
This type of risk can be
controlled by proper
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Risk on quality of product
due to outsourcing
Risk of product interruption
management. It might also take
place due to different as well as
major issues in manufacturing
process.
monitoring.
Risk associated
Development issue includes
risk of decrease in sales etc.
Such types of risks occur due
to ineffective planning or black
of knowledge about market.
Controllable in nature.
B ) Risk management matrix
Type of risk Probability of
occurrence
Level of Effect Impact
Technical risk Medium 3 This sort of risk have
straightforward as well
as major impact on the
all Task or activities
in project. It also has
direct influence on the
monitoring and
controlling system.
Human resource risk medium 3 This sort of risk has
direct as well as
leading consequence
on the performance of
task and results. Lack
of ability , knowledge
and core competencies
in employees can lead
to the failure of
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project.
Fiscal risk High 4 This form of risk has
great effect on the
financial performance
of an enterprise.
Financial risk have
direct and major effect
on the financial
stability of an
organisation.
Scope risk low 2 Range risk has direct
consequence on the
project planning .
Time risk medium 2 Time risk has direct
effect on the
completion of project.
Organisational risk Medium 3 This form of risk has
major impact on the all
aspects of projects
including planning to
execution.
C. Information related to Risk management
Risk management is defined as the systematic procedure which include recognition,
evaluation, and prioritization of risks It is also involves coordination as well as economical
usage of resources in order to avoid or reduce the chances of occurrence of risk. Objective of risk
management is to ensure that risk does not have negative effects on business objectives or
performance. There are several risk controlling techniques these are avoidance, Loss Prevention
as well as reduction , separation , duplication and diversification. Strategies which can be used
for managing risk include avoidance , sharing , reduction and retention.
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13. Project procurement
A) Types of contracts required
Project procurement management is defined as a process of building relationships with
outside vendors and suppliers for goods and services needed to complete a project. There are
mainly three types of contracts are required these are:
Fixed price contract-These types of contract are considered to be helpful when both the parties
have understanding about scope and also design their ways of working to properly scope the
project. This form of agreement can be further categorised into small agreement these are
 Firm Fixed Price ,
 Fixed Price Plus Incentive Fee and
 Fixed-Price with Economical Price Adjustment Contracts.
Cost-Reimbursable contracts- In such types of contracts the buyer is required to pay for the
cost incurred by the seller in completing the work. Cost-Reimbursable contracts can be divided
into small agreements such as
 cost Plus Fixed Fee
 Cost Plus Award Fee and
 Cost Plus Incentive Fee contract
 Time and Material contracts.
B) Make or Buy analysis
Make or Buy analysis is considered to be as decision is the act of choosing between
manufacturing a product in-house or purchasing it from an external supplier.
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C) Procurement management
Procurement Procedure, is considered to be as a method by which items are purchased
from external suppliers. The procurement management procedure includes managing the
ordering, receipt, review and approval of items from suppliers.
CONCLUSION
It has been concluded from the report that there are several problems associated with the
implementation of project in successful manner. Study has suggested several techniques as well
as strategies which can be adopted by project manager for managing several activities as well
dealing with several complications during the project. Assignment has successfully demonstrated
the needs for improvement in the project.
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REFERENCES
Books and Journals
Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Fleming, Q. W. and Koppelman, J. M., 2016, December. Earned value project management.
Project Management Institute.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
Meredith, J. R. and et.al., 2016. Project management in practice. Wiley Global Education.
Binder, J., 2016. Global project management: communication, collaboration and management
across borders. Routledge.
Conforto, E. C. and et.al., 2016. The agility construct on project management theory.
International Journal of Project Management. 34(4). pp.660-674.
Zheng, X. and et.al., 2016. Review of the application of social network analysis (SNA) in
construction project management research. International journal of project management.
34(7). pp.1214-1225.
Layton, M. C. and Ostermiller, S. J., 2017. Agile project management for dummies. John Wiley
& Sons.
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