Project Management

Running head: PROJECT MANAGEMENT
Project Management
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PROJECT MANAGEMENT1
Table of Contents
1. Theory of each element of project report...........................................................................3
1.1 Work Breakdown Structure (WBS).................................................................................3
1.2 RACI chart.......................................................................................................................3
1.3 Schedule 1- Gantt chart....................................................................................................3
1.4 Schedule 2- AoN..............................................................................................................4
1.5 Resources overloads.........................................................................................................4
1.6 Budget..............................................................................................................................4
1.7 Progress reporting (timelines)..........................................................................................4
1.8 Progress reporting (EVM)................................................................................................5
1.9 Risk management.............................................................................................................6
1.10 Change management......................................................................................................6
1.11 Stakeholder identification and communication..............................................................6
1.12 Project closure................................................................................................................6
2. Project report..........................................................................................................................7
2.1 Work breakdown structure (WBS)...................................................................................7
2.2 RACI chart.......................................................................................................................9
2.3 Schedule 1- Gantt...........................................................................................................10
2.4 Schedule 1- AoN.......................................................................................................11
2.5 Resource overloads....................................................................................................12
2.6 Budget............................................................................................................................12
2.7 Progress reporting (timelines)........................................................................................14

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2.8 Progress reporting (EVM)..............................................................................................16
2.9 Risk management...........................................................................................................18
2.10 Change management....................................................................................................19
2.11 Stakeholder identification and communication............................................................20
2.11.1 Stakeholder prioritization matrix..........................................................................20
2.11.2 Project communication matrix..............................................................................21
2.12 Project closure..............................................................................................................22
References................................................................................................................................24
Bibliography.............................................................................................................................25

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1. Theory of each element of project report
1.1 Work Breakdown Structure (WBS)
WBS is the hierarchical structure of the project activities which are broken down into
smaller and manageable portions. The goal of WBS is to make the larger project manageable
by breaking down each of the project limestones into work packages (Kloppenborg,
Anantatmula & Wells 2018, pp-150). It leads to better productivity of the team as well as
easier project management.
1.2 RACI chart
It is the structure to assign roles as well as responsibilities of each project tasks
milestones and project activities to the team members. RACI is stand for Responsible,
accountable, consulted and informed.
Responsible: The team can work to complete the project tasks. Each of the project tasks
are required to at least one responsible person.
Accountable: The person can delegate the work and review the project task and
deliverable so that it can complete before completion time.
Consulted: Each of the project deliverable is to be review as well as consult from one of
the project team members.
Informed: The members are required to keep in loop on the progress of the project work
(Kloppenborg 2015, pp-216).
1.3 Schedule 1- Gantt chart
It is the chart with horizontal lines which can demonstrate amount of work to be done
as well as completed in specific period of time in relation to the prearranged period of time.
This chart contains the list of the project activities with its respective start as well as finish

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date. The total duration required to complete each project activities are also shown in this
chart (Kloppenborg 2015, pp-192).
1.4 Schedule 2- AoN
It is referred to precedence diagram that is used of boxes to denote the schedule
activities. The nodes are to be connected with end by means of arrows to depict the logical
progressions of dependencies among the scheduled activities (Kloppenborg 2015, pp-173). It
is the graphical representation to view the project tasks as well as dependencies.
1.5 Resources overloads
It is the overloading of the development resources where the project manager can start
to allocate more tasks to one of the project resources as those individuals are counted in past
to deliver the project results. In order to manage with resource over allocation, there are
lengthy activity duration in order to reduce units and time (Kloppenborg, Anantatmula &
Wells 2018, pp-216). In this case, there are possibilities that the duration of entire project will
increase.
1.6 Budget
Budget is the financial plan for definite period of time. It is total estimation of cost
compulsory to finish the project inside scheduled time period. It is included planned sales,
volumes as well as revenues (Kloppenborg, Anantatmula & Wells 2018, pp-346). It is also
consisted quantities of project resources, costs as well as expenses required to complete the
project work.
1.7 Progress reporting (timelines)
It is required activity into the project management. The project manager can issue
regular project reports on the progress of the project so that it can provide progress against

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the project budget, schedule as well as scope. It is created regular progress reporting so that it
can create valuable written records of the project life (Kloppenborg 2015).
1.8 Progress reporting (EVM)
EVM helps the development manager to measure the performance of the project plan.
It is the project administration process which is used to find the project variances founded on
comparing the work achieved as well as work planned. EVM is control over cost as well as
schedule and it is useful for project forecasting. It is consisted of following elements such as:
Planned value: It is the assigned cost to the planned project work.
Earned value: It is the amount of the work which are achieved to express based on
budget which is authorized to the project plan (Kloppenborg 2015).
Actual cost: It is the cost which is experienced for effort achieved on the project
action throughout entire time period.
Budget at completion: It is amount of the total budget recognised for effort to be
achieved.
Schedule variance: It is amount of the schedule presentation which is articulated as
variance among the earned value as well as planned value.
Cost variance: It is the total quantity of the budget and extra as provided point in time,
and it is articulated as variance among earned value as well as actual cost.
Schedule performance index: It is measure of the schedule efficiency which is
expressed as the ratio of the earned value to planned value.
Cost performance index: It is amount of the cost competence which is expressed as
the ratio of the earned value to actual cost.