PRINCE2 Implementation in Project Management

This assignment delves into the application of the PRINCE2 project management framework. It examines how PRINCE2 contributes to successful project outcomes, outlining its strengths in facilitating effective communication and team coordination. The analysis also considers potential challenges associated with PRINCE2 implementation, emphasizing the importance of skilled project managers and leadership for successful execution. Recommendations are provided for The QA Higher Education to enhance their project management practices using PRINCE2.

Project Management

Contents
INTRODUCTION...........................................................................................................................1
1. Project Initiation Document (PID)...............................................................................................1
Budgetary information.................................................................................................................1
Timescales...................................................................................................................................2
Key staff.......................................................................................................................................2
Stakeholder analysis....................................................................................................................3
2. Risk Register................................................................................................................................3
1. Project Plan..............................................................................................................................5
3. Project Sponsor............................................................................................................................7
a. Importance of quality risk management plans and the potential impact.................................7
b. Analysis and critique of the potential relevance of PRINCE2................................................8
Conclusion and Recommendation...................................................................................................9
REFERENCES..............................................................................................................................10

INTRODUCTION
There are different types of plans developed so that an effective project can be formed. For carrying out any plan it is
important to have a project manager who has proper understanding of ways that can help to complete the project. Further, project
management can be determined as a methodological approach that enables to develop rules, regulations and principles so as to fulfil
all requirements of project (Kerzner and Kerzner, 2017). There are certain aspects that are needed as support like workers, budget plan
and risk analysis. As per the scenario provided, QAHE (The QA Higher Education) has planned to refurbish its teaching rooms and
computing labs in London Campus. This project covers the budgetary information so that all the activities set can be completed.
Further, it also covers core elements that will be included in the Gantt chart.
Aim:
To refurbish teaching rooms and to compute labs for London Campus.
Objectives:
 To design a new building that will be used as laboratories by students.
 To complete the project within the speculate budget.
 To develop an environment in which students are comfortable and create healthy relation.
 To control and monitor functions like power consumption, energy management, etc.
 To develop different type of report to examine performance and operations of building.
1. Project Initiation Document (PID)
Budgetary information
There are different types of activities that are included in project. For each of the activities it consists of certain amount that is
incurred by the management (Burke, 2013). With this respect, it is important to make sure that appropriate steps are taken in which
planning is made to set the total cost that will raise. Below given are the costs that will be included:
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Particulars Amount
(In GBP)
Purchasing materials for
refurbishment
1500
Acquiring software license 2500
Database licensing 200
Equipment cost 2000
Labour cost 1000
Server cost 800
Network cost 2000
Total 10,000
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Timescales
Different tasks are set out so that the project can be completed in effective manner. The time scale will start from 19 February
2018. In this context, below given are the timescale or total time that will be taken in completion of project:
Tasks to be completed Time taken for each task
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Initiation phase 23 days
Planning phase 21 days
Execution phase 28 days
Monitoring and controlling phase 33 days
Closure phase 14 days
Total time taken 119 days
Key staff
Different people are involved in completion of project. These are involved so that they are able to take up appropriate steps
that they can involve each one achieving the set goals and objectives. Below given are the key stakeholders:
Key
Stakeholders
Name of the responsible
individual
Responsibilities
Project manager Mr. Albert Leader or coordinator of the project
Project team
members
Mr. John They are the one who execute the
project under the guidance of project
manager
Project sponsor Mr. Steve These are the project financier
Steering
committee
- Helpful to provide guidance on key
decision that can be taken (Larson and
Gray, 2013).
Resource
managers
Mr. Abraham These people control resources that are
required for the project
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Executives - They are top management within the
firm who execute the project and direct
on developing organizational strategies.
Stakeholder analysis
2. Risk Register
It is important for the project manager to determine what the risks, then these can be divided in the form of minor and major
risk. Further, the division is done on the basis of likelihood. Potential risks that can occur in the project are given below:
PROJECT RISKS
Severity prior to
mitigation Severity after mitigation
Financial Likelihoo
d
Impac
t
Ratin
g
Mitigations Likelihoo
d
Impac
t
Ratin
g
Contingenc
y Plans
Status Owner
F1 Increase in
financial
cost
5 5 25
To opt for
the methods
that can
further
reduce the
overall
costing.
3 2 6
Switch to
some other
financial
methods
which can
be in the
form of
loan
At the
monitorin
g stage
Project
Team
F2 Increase in 3 3 9 Not to opt 2 2 4 opt for New Finance
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interest
rates
for bank loan
financial
method
shares
method of
financing
Director
Operationa
l Likelihoo
d
Impac
t
Ratin
g
Mitigations Likelihoo
d
Impac
t
Ratin
g
Contingenc
y Plans
Status Owner
O1 Lack of
worker's
performan
ce 3 3 9
Practice
motivation
and
performance
linked
benefits to
employees
2 2 4
Increase
motivation
practices
Actions
in
progress
Human
resource
team
O2 Lack of
resources
3 4 12
Opt for
substitutes of
unavailable
resources 4 4 16
Change the
plan which
requires
utilization
of
unavailable
resources
Action in
progress
Human
resource
Team
Reputation
al Likelihoo
d
Impac
t
Ratin
g
Mitigations Likelihoo
d
Impac
t
Ratin
g
Contingenc
y Plans
Status Owner
R1 Inaccurate
estimates
3 2 6
Benchmarki
ng quality of
end products 4 5 20
Bring
enhanceme
nt in the
practices of
workers
Waiting
for
approval
from the
board
Steering
Committe
e
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IMPACT
Negligence Minor Moderate Significant Severe
1 2 3 4 5
LIKELI
HOOD
Very
Likely 5 5 10 15 20 25
Likely 4 4 8 12 16 20
Possible 3 3 6 9 12 15
Unlikely 2 2 4 6 8 10
Very
Unlikely 1 1 2 3 4 5
10-
25 High Needs corrective action urgently
5-9 Moderate Needs corrective action after 2
months
1-4 Low Doesn't currently require
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corrective action
1. Project Plan
In order to draw the Gantt chart, MS- Project has been used as a software so as to come up with effective results.
Task Name Duration Start Finish Predecessors
Building Management
System 112 days Mon 2/19/18 Tue 7/24/18
Initiation phase 23 days Mon 2/19/18 Wed 3/21/18
Setting the target goals
of BMS
implementation
5 days Mon 2/19/18 Fri 2/23/18
Setting stakeholders
expectations 10 days Wed 7/25/18 Tue 8/7/18 1
Proper and adequate
documentations,
contracts and
agreements
8 days Thu 3/22/18 Mon 4/2/18 2
Planning phase 21 days Thu 3/22/18 Thu 4/19/18
Setting out operational
plans and policies 6 days Mon 2/26/18 Mon 3/5/18 3
Identifying resource
requirement i.e. human
source, funds and
equipment’s
9 days Thu 3/22/18 Tue 4/3/18 2
Plan for managing risk 6 days Fri 4/20/18 Fri 4/27/18 6
Execution phase 28 days Wed 8/8/18 Fri 9/14/18
Collection of funds 5 days Mon 2/26/18 Fri 3/2/18 3
Hiring project team i.e. 4 days Wed 4/4/18 Mon 4/9/18 8
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technical expert,
website developer and
others
Purchase hardware and
software license and
others
12 days Mon 9/17/18 Tue 10/2/18 9,10
Testing system
functioning 5 days Mon 9/17/18 Fri 9/21/18 11
Monitoring and
controlling phase 33 days Mon 2/19/18 Wed 4/4/18
Continue monitoring of
the system functioning
and work execution
9 days Tue 4/10/18 Fri 4/20/18 12
Regular reporting 5 days Tue 4/3/18 Mon 4/9/18 5
Conducting meetings 4 days Wed 4/4/18 Mon 4/9/18 8
Analysing the risks 5 days Tue 4/3/18 Mon 4/9/18 5
Examining the progress
by comparing the
performance with the
targets
8 days Wed 8/8/18 Fri 8/17/18 4
Altering the plan 2 days Tue 4/10/18 Wed 4/11/18 18,15
Closure phase 14 days Mon 2/19/18 Thu 3/8/18
Contract closure 5 days Mon 8/20/18 Fri 8/24/18 19,20
Post-project appraisal
and review 7 days Mon 8/20/18 Tue 8/28/18 20,22
Submitting the final
report to the project
manager
2 days Fri 3/9/18 Mon 3/12/18 22
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10

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In accordance with the above given figure, it can be started that the complete work will be completed in 112 days.
3. Project Sponsor
a. Importance of quality risk management plans and the potential impact
Risk management is most important factor to improve internal and external working environment. In this context effective risk
management is the strategy that allow to identify the strength and weakness in working environment (Meredith and Mantel, 2011). To
ensure project to be success based on risk management in organization. Risk management is most important to the project success as
help to increase the productivity and profit in system. There are some importance of risk management and they are as follows: -
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 Plans: - Risk management plan is help in contribution of project success by identifying internal and external risk. It is help to
manage the growth rate in market and to identify hazard, chance of happening, potential contact and proposed activity. Low
risk events normally have little or no contact on cost, agenda or carrying into action (Wysocki, 2011). It is help to manage the
growth rate in market. In case of refurbishment project of London university, planning can help in understanding cost and
resources aspect in a well-defined manner.
 Preparation: - To ensure the project to run smoothly and in effective way it is required to have strong communication among
employees in working environment. In this context, main focus is on identify the risk and removing the potential risk in
market. With the help of invention enables to provide proper knowledge of each and every employees in market at the time of
preparation (Walker, 2015). On the other hand, IT sector is focus on preparing plan about the new computer lab. Proper
planning provides positive impact in future condition. For instance, if the project faces issues in understanding the cost
bracket, in such cases, a financial assistant can be appointed o that the ultimate requirement can be fulfilled.
 Result: - In this context, focus on proper planning and measuring the risk helps project to have control on time and provides
effective way of performance in market. This also helps to meet objective and use of budget in proper manner in working
environment. In this case, effective risk management strategy is most important and help to make success in market (Boud,
Cohen and Sampson, 2014). In risk management, effective leaders from the team who are involved in refurbishing the campus
can focus on conducting analyses of each and every step and improve growth rate in market.
 Evaluation: - In evaluation of the risk management and other factor is highly important and mange work as per the need in
internal working environment. In this way, proper evaluation helps to improve growth rate in market and to make changes in
next project. In the present project, evaluation can help in assessing whether the outcomes are received as per the stated budget
or not.
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In the project elimination of risk and management them is most important to the success of the project and help to increase the
market share (Mir and Pinnington, 2014). On the other hand, risk management helps to give complete analyses of each factor. This
also helps to introduce new computer lab and it is established with proper planning and manage risk.
The impact of risk management and planning is most important and give positive impact on working environment. With the
help of risk management, it helps to achieve success and make some change as per the need in working environment (Verzuh, 2015).
Further, proper planning of risk management gives positive result in future market and maintain quality of working condition. If the
risk management process is ignored, then it gives negative impact on working environment and poor quality of work is done.
b. Analysis and critique of the potential relevance of PRINCE2
PRINCE2 is determined to be one of the most widely used project management methodology. Further, it is used generally for
widened large projects of all kinds. The same has been used in the present case of refurbishing London Campus. There are different
types of benefits and weaknesses and they are as follows:
It is helpful enough as it guides the projects with right terminology. Further, this is an organised, reliable and constant
approach in order to adopt project at the beginning, middle and stages of end. Further, it enables to improve communication among all
team members to make them work sufficiently with all other members (Fuller, Valacich and Schneider, 2017). It has helped present
project in ensuring effective communication between various members involved in the team. In a project, it is important to make sure
that there are proper interactions among members so that the rate of confusion or problems or confusion among each one can be
reduced. Moreover, to implement any type of specific industry model, it is effective.
On the other hand, there are certain problems that are faced in which it enables to eliminate them by making use of PRINCE2,
this is possible when the project manager has proper understand to make use of it and to determine the steps that needs to be taken
(Walker, 2015). Further, it requires the manager to have skills related with leadership so that he/she is able to guide and direct
members in performing them in appropriate manner.
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Conclusion and Recommendation
In accordance with the project developed, it can be stated that the aim and objectives set by project manager will be attained.
There are appropriate plan that is developed and when these are followed, then it can help to attain them. Further, it requires to have
skilled workers who will be able to support the business to focus effectively on employee’s performance. When these are done, then it
becomes helpful to carry out the operations in appropriate manner.
There are certain set of recommendations that can be followed by The QA Higher Education for the project:
Monitoring: All the activities that are developed should be properly monitored so that they are able to determine the areas in
which needs to be made.
Motivation members: When employees have the willingness and interest towards the work they perform, then they will put on
their full efforts to perform the work that are provided to them.
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REFERENCES
Boud, D., Cohen, R. and Sampson, J. eds., 2014. Peer learning in higher education: Learning from and with each other. Routledge.
Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
Fuller, M. A., Valacich, J. S. and Schneider, C., 2017. Information Systems Project Management: A Process and Team Approach,
Edition 1.1. Prospect Press.
Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley
& Sons.
Larson, E. W. and Gray, C., 2013. Project management: The managerial process with MS project. McGraw-Hill.
Meredith, J. R. and Mantel Jr, S.J., 2011. Project management: a managerial approach. John Wiley & Sons.
Mir, F. A. and Pinnington, A. H., 2014. Exploring the value of project management: linking project management performance and
project success. International journal of project management, 32(2), pp.202-217.
Verzuh, E., 2015. The fast forward MBA in project management. John Wiley & Sons.
Walker, A., 2015. Project management in construction. John Wiley & Sons.
Wysocki, R. K., 2011. Effective project management: traditional, agile, extreme. John Wiley & Sons.
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