Project Management and Life Cycle

This assignment provides an in-depth look at the project management life cycle, including its importance, stages, and necessary tools and techniques. The report covers various books and journals on project management, as well as online resources. It emphasizes the need for a right amount of budget and resource allocation to hit targets within a specific time frame. The assignment also highlights the significance of managing risk in projects and using earned value to measure progress.

Managing Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Characteristics of a project..........................................................................................................1
Scope statement for a project......................................................................................................2
Gantt chart and critical path........................................................................................................2
Sources in developing a project budget......................................................................................3
Risk responses within project management................................................................................4
Quality Methods .........................................................................................................................4
TASK 2............................................................................................................................................5
Introduction.................................................................................................................................5
Skills and competencies required for a project team..................................................................5
Project management process.......................................................................................................7
Leadership...................................................................................................................................7
Project Life Cycle stages.............................................................................................................7
Control problems associated with managing the life cycle of project........................................9
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
In modern time, project can be defined as number of activities or procedures done for
meeting the desired goals and objectives in stipulated time frame. Most of projects or plans
requires a little change so that maximum coveted results could be carried out and for this purpose
managerial activity takes place. In other words, managing projects refers to initiating, planning,
closing, executing along with controlling overall activities so that particular goals can be attained
right on time. Basically, a project is being made for the purpose of building something new or
bringing innovation among existing services (Boutros and Purdie, 2014). Present report has been
split among two different sections where first part will keep its focus on, scope, importance,
principles and characteristic of project. Second section will cover skills and competencies
required by the Project team and it will also show basic management process for completion of a
project. The second task will be based on a case study of City Towers where Hotel
Communications Ltd will install, test and commission the IT and communication infrastructure
for the hotel.
TASK 1
Characteristics of a project
It is being analysed that a project can be divided into two different sections based on their
time frames as long or short term. It is required for senior managers to basically plan any project
based on the requirements and it is also needed to keep its focus on a few factors like time,
resources or funds. In present context, a few characteristics of a project has been given below:
Characteristic of Project:
 A successful project is basically consists with both start along with end time.
 Project carries a set of procedures which requires to be transferred into action within the
set frame.
 Projects mainly gets modified because of daily organizational activities or the trends and
this takes place for the purpose of attaining goals in specific time frame.
 Once the end point is met with requirements of a desired goal, a project gets over.
 A project cannot be completed without scope, time frame, budget, resources, stakeholders
and dependencies as well (Devaux, 2015).
1

Scope statement for a project
Project scope statement could be defined as a tool which helps in outlining overall
deliverables that a project is having. Along with this, it is required for a project manager to
identify basic constraints, key factors and assumptions for completion of the project. In other
words, a proper scope statement shows limit or boundaries of project.
On the other hand, it is important because it helps in avoiding challenges which project
might face when it comes to attain desired goals in specific time frame. It also helps in pulling
out which part needed to be in project and what is not. Away with this, scope management
develops control mechanisms so that it can address factors which may result in making
alterations within project life cycle (Fuller and et. al., 2017).
Gantt chart and critical path
Gantt chart: This is being considered as an effective tool that mainly used by project
manager to calculate overall time that a project is going to take. This actually shows time
duration and also displays both opening along with the ending time frame as well. Apart from
this, critical path can be defined as a crucial and important project modelling tool that aid in
clearing the ways through which a project manager could easily complete all the activities that
are involved in a project in much effective and efficient manner (Dutta and Bose, 2015).
Task Name Duration Start Finish Predecessors
A 2 days Wed 30-01-19 Thu 31-01-19
B 3 days Fri 01-02-19 Tue 05-02-19 1
C 1 day Fri 01-02-19 Fri 01-02-19 1
D 1 day Wed 06-02-19 Wed 06-02-19 2
E 5 days Mon 04-02-19 Fri 08-02-19 3
F 8 days Mon 04-02-19 Wed 13-02-19 3
2

With the help of above mentioned chart, Gantt chart and its activities are mainly enclosed
with time period of every single activity that the project is having. In this project manager need
31 days to complete project in successful manner.
Sources in developing a project budget
A project budget can be defined as overall cost of every single activity which may help in
execution and completion of a plan. It consists with a number of resources related to this and
these are given beneath:
3

Identify the direct Labour cost: This totally depends upon a few factors like scope of
project, where a manager may have a huge number of labour for bringing the project in
execution. This totally depends upon project's scope.
Estimate the material cost of project: Just after looking at the scenario, that how many
staff will be required for accomplishing the project, estimation process will take place where
project manager will look at overall material value of project.
Estimate the cost of the project office: This section will help in estimating the salaries of
project team members. Along with this, time duration and other things will also stay enclosed
with the same (Hillson, 2017).
Cost of equipment may exist in the project budget: This is being considered as another
element which a budget of project must include. It is being found that, a project should consist
with equipment's cost.
Define the software cost, if necessary: Huge projects basically needs project
management software which carries some speciality like it can improve overall efficient of
project.
Risk responses within project management
Risk responses of project could be developed through different methods and these are
given below:
Develop a risk culture: This is being considered as one of effective method that may aid
in developing a proper risk strategy, where proper form mainly incorporates overall risk
management.
Leverage enterprise risk management: Another approach where performance level is
being measured with the help of specific strategy, and it is utilised till the moment labour reaches
to its targets.
Risk assessment: Project's risk assessment could easily place around risks where
determination could be made related to upper danger. Through this, accurate responses based on
hazard basically stays low (Lientz and Rea, 2016).
Quality Methods
Project evaluation: Vital purpose of utilising this method is to determine existing and
desired position of a project. Return on investment (ROI) stays as basic approach of project
manager which directly aid in following the criteria of assessment.
4

Project monitoring: This basically refers to process of keeping track of all project-related
metrics including team performance and task duration, identifying potential problems and taking
corrective actions necessary to ensure that the project is within scope, on budget and meets the
specified deadlines.
Controlling: Another quality method which enables the project manager in evaluating the
data just after collecting it, With the help of this method of quality, a project manager basically
reduces the number of chances of risks and this may lead an individual to go through different
situations as well (Lundin and et. al., 2015).
TASK 2
Introduction
Docklands of London has been one of famous regions where a brand new hotel is going
to be constructed named as City Towers. Just after construction of the building, contract has been
given to Hotel Communications Ltd for installation, commission and test of IT for developing
right communication among employees of this hotel. This organisation has a great past of
supplying IT substructure to different sectors like hospitality and many more.
Skills and competencies required for a project team
A project team can be defined as number of individuals that works with each other for
hitting a common goal. Apart from this, since a project that has been given to Hotel
Communications Ltd., to develop a good communicational infrastructure of City Towers. It is
required for a project management team to carry a number of skills and these are given below:
 Problem solving: This is being considered as basic skill which is required for a project
management team of Hotel Communications Ltd. Because they have been working at
small base previously but now they have got the task for 5 star hotel.
 Conflict resolution: Since the team consists with a number of members, they might think
with different perspectives (Martinsuo, Korhonen and Laine, 2014). This could lead them
to raise conflicts among them. Therefore, it is necessary for the individual to listen to
each other and try to reach to solutions. Since the Hotel Communications Ltd. Is going to
build up proper IT system for City Towers. It will be required for them to manage time,
resources and funds so that project could get completed.
5

 Transformative conversation: Another skill which is required for project team of Hotel
Communications Ltd., then it will be required for them to convey messages with different
media. With the help of this, maximum benefits could be gained right on time.
Competencies: Execution: Since the Hotel Communications Ltd. Is going to prepare communication
infrastructure for City Towers, it will be much required for the project management team
to effectively perform overall operations so that maximum benefits could be gained by
both of the company which is related to profit margins and other resources as well
(McKettaJr, 2017). Decision making: Another competency which is required for project team is to improve
their decision making skills so that right software, routers and other LED TV's in budget
could easily be implemented. Communication: This could be considered as one of essential competency, which is
needed for project team of Hotel Communications Ltd. Excellence into this may lead
interpersonal skills to reach to an all new level. It consists with facts, figures, probable
needs of project team. Another information relate to the benefits that are associated with
introducing new IT communicational system consists with appropriate channel of
communications, preparing and delivering preadaptations qualities etc. which will aid
team in finishing the tasks in specific time frame.
 Strategy Development: Project team of Hotel Communications Ltd. needed to have this
competency, so that they may easily organise overall communication infrastructure in
City Towers in a way where they do not go through any sort of issues. On the other hand,
it is also essential for them to focus on their objectives so that while developing a strategy
they do not take any wrong step. This could lead whole project to get delay and this may
impact negatively as well on their reputation because this was their first assignment with
a renowned hotel named as City Towers. Developing metrics to track down system
progress to ascertain its efficiency and effectiveness in accomplishing firms goals
(Perkins, 2017). Critical Thinking : Critical thinking quality or skill could help a project team in reaching
to its goals in much effective and efficient manner. In the same way, project team of
Hotel Communications Ltd. if carry critical thinking as their skill or develop it then they
6

may easily perform their task with unique approaches. Using LED TV's, phones and
internet routers that do not spread high radiations at City Towers will help both its clients
and staff.
 Insightful: Another approach which is required for Hotel Communications Ltd to analyse
and study various industrial trends related to different IT systems and their probable
effect on business. It also involves gathering information related to competitors strategy
and to make necessary changes in firm's policies and procedure to get an edge (Polonsky
and Waller, 2014).
Project management process
Project management process: Project management process refers to process that deals
with planning as well as controlling of goods and services while implementing a project. This
process usually begins when a customer approves a contract. Project management process
involves specific configuration that includes project management documentation. There are
basically five phases in project management process namely initiation, planning, executing ,
controlling and closing. Throughout these steps, project managers need to carefully evaluate all
project management tools and techniques that are chosen by project managers for completing a
project. Starting stage of a project is known as initiation process while ending stage of a project
is known as closing stage.
Leadership
Leadership is a quite broad word. It usually brings about a variety of images in minds of
perceiver. Leadership involves numerous ideas and objectives such as establishing a clear vision,
sharing that vision with other employees to get desired results and so on. Project managers of
Hotel Communications Ltd. earlier undertook autocratic leadership style where employees were
not free to express their thoughts and ideas. This lead to decrease in profit level as well as
productivity level in projects. So to improve this, project manager of Hotel Communications
decided to follow democratic style of leadership to boost morale of employees and increase their
productivity as well as profitability.
Project Life Cycle stages
The project life cycle provides a structure for managing a project. Every project has a
beginning and an end which passes through different phases of development (Project life cycle,
7

2018). The Project life cycle can be defined and altered as per the needs and aspects of the firm.
In this project life cycle, there is the description of the project of a new hotel City Towers,
which is to be constructed by Hotel Communications Ltd to whom the contract has been given to
install, test and commission the IT and communication Infrastructure for the hotel. The Phases to
be followed in the completion of this project are as follows:
 Initiation Phase – This phase aims to define and authorize the project. The Project
manager(Hotel communication Ltd manager) takes the given information and creates a
project charter. The project Charter authorizes the project and documents the primary
requirements for the Hotel project. This information includes-
 Project's Aim, vision, and mission
 Measurable objectives and success criteria
 Elaborated project description, conditions and risks.
 Name and authority of the project Financier(Hotel City Towers).
 Concerned Shareholders (Ramazani and Jergeas, 2015).
2. Planning Phase – This phase aims to determine the approach Hotel communication Ltd
will take and define all the details of how the Hotel project will be done. Planning Phase
of project life cycle consists of two parts :
 Strategic Planning – In which the overall approach of the project will be developed.
 Implementation Planning – In this the project manager will figure out all the details of
how the project will be done.
A good way to visualize the project is to create a project plan, estimating budget, creating
a financial plan, and gathering resources.
3. Execution phase- This is the phase where the business approval received. After that
manager make plans for development and built a team for the execution of plans. Here
the manager of Hotel Communication Ltd will execute the plan for applying the TV and
radio provision fro hotel rooms, CCTV and appropriate IT facilities in the meeting rooms
and conference centres. Some steps during the execution of plan-
 Creating task and organizing work flow- Here manager of Hotel Communication Ltd
organize the workflow and tasks among all the workers.
8

 Communicating with the team members and clients- Manager use to talk with the team
members about the strategies and problems occur during the execution of plans. Also
communicates with clients about the work and further execution.
4. Closure- This is the last phase of life cycle. Here it come to close the development of
project and release it. Manager of Hotel Communication Ltd will complete the Hotel City
Tower and hand over it to the owner. Some that manager follow during closure-
 Analyse project performance- Check whether the goal of organization is full filled or
not. Performance of the organization gives expected output or not (Simpson and et. al.,
2014).
 Documenting project closure- Make sure that all the points mentioned in project charter
are completed and provide report to key stockholder.
Control problems associated with managing the life cycle of project
Control risks basically process under project risk management, part of project risk
management, its major advantage is that it improves overall efficiency consists with stakeholders
so that management of overall risk could be done and it is enclosed with life cycle project.
Moreover, it also encourages stakeholders to optimize their risk responses.
Apart from this, it is being found that risks could easily be developed and is enclosed
with different responses owner needs to create risk report and send it regularly to the project
manager of to make the necessary decisions or see any effects on the entire project. With the
control risks process, necessary updates on the organization process, project lessons learned as
well as risk management templates will be implemented (Webb, 2017).
In present scenario, it is being found that as Hotel Communications Ltd. is creating a
communication infrastructure, it will aid them in reaching to an all new level because the
contract which has been made among both the business firms. It will aid them in specific time
frame. It is being analysed that senior manager of Hotel Communications Ltd. failed to control
overall system as he/she might fail to understand and manage the impact of failure.
Away with this, in the last if it is examined that overall budget mainly gets affected due
to different reason. This could create issues for Hotel Communications Ltd. when it comes to
assign tasks in specific time frame. Therefore, it is required for every single business firm to
reach to an all new level. On the other hand, it is also necessary for Hotel Communications Ltd.
to go through different sections or areas as well (Turner, 2014).
9

CONCLUSION
With the help of above mentioned report, it is being summarised that every single project
consists with both start and end point. Once desired target gets achieved, a project reaches to an
end. Projects are being developed by every single organisation depending on their purpose and it
needs to have right amount of budget and resource. This could lead a company to hit its targets in
specific time frame. On the other hand, there are many tools and techniques which could be used
like project management life cycle which helps in maintaining performance level if a project is
being developed at larger scale.
10

REFERENCES
Books and Journals
Boutros, T. and Purdie, T., 2014. The process improvement handbook: a blueprint for managing
change and increasing organizational performance. McGraw-Hill Education.
Devaux, S.A., 2015. Total project control: a practitioner's guide to managing projects as
investments. CRC Press.
Dutta, D. and Bose, I., 2015. Managing a big data project: the case of ramco cements limited.
International Journal of Production Economics.165. pp.293-306.
Fuller, M. A. and et. al., 2017. Information Systems Project Management: A Process and Team
Approach, Edition 1.1. Prospect Press.
Hillson, D., 2017.Managing risk in projects. Routledge.
Lientz, B. and Rea, K., 2016.Breakthrough technology project management. Routledge.
Lundin, R. A. and et. al., 2015. Managing and working in project society. Cambridge University
Press.
Martinsuo, M., Korhonen, T. and Laine, T., 2014. Identifying, framing and managing
uncertainties in project portfolios. International Journal of Project Management. 32(5).
pp.732-746.
McKettaJr, J., 2017. Encyclopedia of Chemical Processing and Design: Volume 45-Project
Progress Management to Pumps. Routledge.
Perkins, B., 2017. Practice. The Architecture Student's Handbook of Professional Practice,
pp.91-92.
Polonsky, M. J. and Waller, D. S., 2014. Designing and managing a research project: A
business student's guide. Sage publications.
Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International
Journal of Project Management. 33(1). pp.41-52.
Simpson, T. W. and et. al., 2014. Advances in product family and product platform design. New
YorN: Springer.
Turner, J. R., 2014. Handbook of project-based management (Vol. 92). New York, NY:
McGraw-hill.
Webb, A., 2017. Using earned value: a project manager's guide. Routledge.
Online
Project life cycle. 2018. [Online]. Available through:
<https://www.mavenlink.com/resources/what-is-the-professional-services-project-life-
cycle>.
11