Project Assessment Task

This document provides assistance with a project assessment task. It includes details on the project team, cost, skills, deliverables, timeframes, project scope, additional documentation, stakeholders, resources, project management tools, risk management plan, and monitoring.

PROJECT ASSESSMENT TASK 1
Project assessment task
Name:
Institution:

PROJECT ASSESSMENT TASK 2
Project assessment task
PART A
1. Provide details of your project team, cost, skills, and suggested project deliverables
and timeframes.
Project team
Our project team is consists of five group members, four virtual team members, and one
candidate. These members are required to work actively in every phase of the project, thus
these members must be budgeted for and utilized well. The group of five team member is
consists of virtual members who work for different geographical areas. The team members
will be consists of Agent, clients, tenants, government and fund manager. The program
itself is implemented at Max Lionel Reality for it to satisfy the legal and ethical obligations
and to build the customers goodwill, to inform tenants, agents and clients of Max Lionel
Reality (MLR) commitments and lastly to promote high standards in professional conduct
(Riesenberger, 2016).
Cost
The cost of the project will be $ 15,000.The fund manager should be greatly involved in
budgeting in that they have great knowledge of budgeting well for the project without
underestimating and overestimating.
Skills
For the success of the project, all members of the team should have the required skills for
the successful implementation of the project. For Example, Agents should behave the
required skills for selling and managing the real estates.

PROJECT ASSESSMENT TASK 3
Project deliverables and timeframes
In our project we will make advertisement via posters this will inform our customers on
our goals and objects and what we intend to do. We use posters since it is less costly and it
will not go against our set budget. The timeframes for the project will take 6 months.
2. Determine project scope.
The main objective of this project is to inform group members and customers on the
matter of upholding good virtues in the organization.
The goals which will be achieved are ethical obligations and clearly communication
obligations. The tasks which will be conducted will include planning, structuring of the
project and training of team members. The resources which I will plan in the projects are
using knowledge and experience, practical and problem-centered real examples and
connecting the new materials with the existing ones (Carstens, Richardson & Smith, 2016).
The Budget of the project at the first phase will be $ 5,000. The project is scheduled to take
6 months.
3. Determine additional documentation required to determine project and develop
deliverables.
The additional documentation that I will use is projected communication plans. This will
assist in enhancing effective communication among the stakeholders and project teams.
This document will show the list of dates and meetings. The correct communication plan
will enhance good project decision (Kerzner & Kerzner, 2017).

PROJECT ASSESSMENT TASK 4
4. Define project stakeholders. Determine how you will engage and manage stakeholders
to achieve project objectives. Develop communication and stakeholder management
plans for discussion.
The project shareholders are a group of individuals who are interested in the
implementation of a certain project. In our project, the stakeholder will be project team,
customers, sponsors, management and project manager. Every shareholder has its
responsibility and thus if every shareholder is actively involved in a given task then the
project objectives will be achieved.
5. Identify the personal responsibilities of each of member and reporting requirements.
Sponsors: These are individual who sees the idea concerning the project and will fund for the
project.
Management: These are individuals who are the responsibility of planning for the execution
and implementation of the project.
Project team: These are individual who will succeed in the implementation of the project.
Project manager: This is a person who will be controlling, staffing and coordinating of the
project being implemented.
Customers: These are the people who will use the implemented project after completion. The
customers will review the project and will determine if the project meets the user requirement
standard.
6. Determine resources and access to resources.
The resources which will be required for the project include:
Team of expert, these are individual who is responsible for overseeing the progress of the
project. Also, they will assist in giving some direction on how to tackle a certain project.

PROJECT ASSESSMENT TASK 5
Self-esteem is another resource for the project if the members of the project uphold self-
esteem then the project will succeed is implemented (Kendrick, 2015).
7. Determine project management tools, such as software (e.g. Microsoft Word, MS
Excel, and MS Project) and templates, etc.
The project management tools which I will use are Ms excel and Ms. Projects. The Ms
excel I will use to store information regarding the budget of the projects, the team members
of the project, the role and responsibility of each member and plan on how long will the
project take. Ms. Project will be used in documenting the project for it to be implemented.
8. Develop a risk management plan for your project, Include consideration of WHS risk
management. Identify, assess and suggest treatment of at least three additional risks,
including financial risk.
In developing the risk management plan we shall states the following: Project risk
background, methodology, roles and responsibilities, timing and risk categories.
The risks which can be incurred during the implementation of the project are stated below.
The financial risks are a risk which occurs due to poor budgeting of the allocated funds for
the project (Heldman, 2018).
Schedule risk of this risk occurs when the project takes a lot of time than the expected
time. As a result of it will increase the cost of the project and competitive advantage of the
project will lose since it was not completed on time.
Legal risks occur regulatory and legal obligations such as contract risks.
PART B
1. How will you monitor the project you planed

PROJECT ASSESSMENT TASK 6
Monitoring the project involves keeping tracks of all the activities that take place during
project design. For the success monitoring of the planned project then various team
members should be involved. The elements that should be monitored include scope
schedule, resources, tasks and budget to be completed. The following are ways you should
monitor your project. First is a clarification of the expectation, it is required that you
should know the goals you are aiming at. Also, we should know the period in which the
project will take and the team who will handle the project. Secondly is setting regular
monitoring intervals which allow the problem to be identified as the project is being
worked upon (Fleming $ Koppelman, 2016).
2. Determine personal need for support.
A good project is the one that meets the stakeholders’ needs. For the project to work well
various teams members must come together to work for the project so that the project is
well supported until it reaches its implementation.
3. Meet with the team to:
a. clarify roles and responsibilities
The role and responsibilities of the team will be the following:
 Budgeting for the project
 Creating project plans
 Monitoring of the project
 Identifying and solving the risks
 Meeting to discuss the project expectation
 Portfolio management

PROJECT ASSESSMENT TASK 7
 Implementing any changes that are required for the project
 Maintaining the project objectives
b. Discuss risk processes for identifying risks and risk management approaches.
Risks can be identified after a team of individuals come together to analyze various
elements of projects. After analysis of the project, various risks such as financial
risks, performance risks, and legal risks will be identified. After the risks are well-
managed techniques which are used to mitigate risks are employed this risk includes:
First is avoidance this entails avoiding from to exposure to future risks. Second is
Reduction this is the act of reducing the risks so that it cannot future widespread.

PROJECT ASSESSMENT TASK 8
References
Riesenberger, J., 2016. Global Project Teams: A Practitioner's Guide to the 5 Competencies
Needed for Success. Rutgers Business Review, 1(1).
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management.
Project Management Institute.
Heldman, K., 2018. PMP: project management professional exam study guide. John Wiley &
Sons.
Kendrick, T., 2015. Identifying and managing project risk: essential tools for failure-proofing
your project. Amacom.
Carstens, D.S., Richardson, G.L. and Smith, R.B., 2016. Project management tools and
techniques: A practical guide. CRC Press.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.