Assignment On Project Execution And Control

Project Execution and Control
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1. Risk Management and Project Status Reporting
1.1 Challenges and pitfalls of different status reports
Status report is a timely update applicable for different businesses and ongoing projects.
The report helps the projects supervisor to keep all project team associates updated regarding the
immediate status of the project that is whether it is running according to the objectives or lagging
behind. It is identified that, project and portfolio status reporting is a must have report for all
project base business organizations. The different status report that are introduced by
organizations are risk report, cost overflow report, resource report etc. The status report contains
high level information in terms of cost structure, timeline, resources and stakeholders (Fleming
& Koppelman, 2016). If the status reports are not delivered precisely then it would result failure.
It is duty of the project supervisor to track the status report timely and update that respectively.
However, some major challenges and pitfalls of status are identified and elaborated below:
Sometimes the executives overlook bad news received from either internal or external
sources: It is recognized that there are many cases where business level challenges or risks are
identified initially but overlooked by the company executives who are mainly authorized to solve
those identified issues. Project those follow iterative development process often requested for
change after completion of half of the project (Kerzner, 2017). In those cases sometime project
supervisors ignore the request to avoid additional work pressure. These changes are mostly
requested from internal and external sources. Avoiding major challenges if status reports are
generated then that will be identified as misreporting. Accordingly the chances of misreporting
also get enhanced.

Making the senior executive as the head project in charge: The distance between the
person, who is generating a status report and people who are receiving the report increases if, the
powers increase.
Impact of traits, norms, policies and work culture: Some other reasons are also there that
results to misreporting. In the traits it is determined that, risk takers and optimists are the people
who are responsible misreporting (Verzuh, 2015). If the work culture, company norms and
policies are not suitable for the people who are working there then they may also generate
misreporting. Excessive work pressure, communication barrier, cultural barriers also lead a
project to major failures and misreporting
Sometimes executives fail to rely on other working staffs: Sometime it happens that
project supervisors do not feel free to depend on the project team associates. A project success
does not depend only on performance of the project supervisor but also depends on performance
of individual team associates. Therefore, interdependency and team association is much
important for project success. However, sometimes executives take decision without focusing on
the concern and expectation of the other working team members (Cheng et al., 2018). Issues can
be elevated in those cases. Without considering feedback of the other organization associates if,
status report is produced then that may contain savior challenges and pitfalls.
1.2 Differences between the status reports provided for teams, sponsor and steering
committee
In order to accomplish any project in estimated time and fund, iterative project
development life cycle should be followed thoroughly by the project team associates and it is
duty of the project lead to let all the associates know regarding immediate status of the project.

However the project status reports produced for team members, sponsors and steering committee
members are different from other.
Status report for the team members: Status report produced for team member explains
individual performance completed by them and the duties to be performed in coming
development stages (Fleming & Koppelman, 2016). Not only this but also the objectives and
detail organizational vision and project scope are also elaborated in this report. It also explains
some those additional efforts that may be required to complete the project in the estimated
budget and time.
Status report for the project sponsor: The project sponsors invest needful capital for
the project design and development. In most cases a variance is measured between the planned
cost and the actual cost. The expenditure already done for the project are elaborated in the paper
and also if any additional budget is required for further activities then that are also demonstrated
in the status report produced for the sponsors.
Status report for the steering committee: The accountability of project steering
committee is to provide advice and make sure its delivery on time and budget to achieve project
objectives without any failure (Kerzner, 2017). The status report produced for them explains how
their advices are considering by the development team and project manager as well throughout
the development life cycle period.

References
Cheng, D. C., Villamarin, J. B., Cu, G., & Lim-Cheng, N. R. (2018). Towards end-to-end
Continuous Monitoring of Compliance Status Across Multiple
Requirements. INTERNATIONAL JOURNAL OF ADVANCED COMPUTER SCIENCE
AND APPLICATIONS, 9(12), 456-466.
de Carvalho, M. M., Patah, L. A., & de Souza Bido, D. (2015). Project management and its
effects on project success: Cross-country and cross-industry comparisons. International
Journal of Project Management, 33(7), 1509-1522.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management.
Project Management Institute.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring
and monitoring project performance. John Wiley & Sons.
Kerzner, H. (2017). Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Verzuh, E. (2015). The fast forward MBA in project management. John Wiley & Sons.