Project Management: A Comprehensive Guide to Successful Project Execution

This comprehensive guide delves into the fundamental principles and practices of project management, covering essential topics such as project scope definition, work breakdown structure, Gantt charts, critical path analysis, risk management, and quality control. It also explores the stages of the project life cycle, leadership in project management, and managerial and control issues. Through real-world examples and practical insights, this guide equips readers with the knowledge and skills necessary to effectively manage projects and achieve desired outcomes.

Managing Projects

Table of Contents
Introduction......................................................................................................................................3
Task 1...............................................................................................................................................3
Important characteristics of a project..............................................................................................3
Project scope statement....................................................................................................................4
Work Breakdown Structure role (WBS)..........................................................................................4
Gantt Chart.......................................................................................................................................5
Critical Path.....................................................................................................................................5
Approaches for producing a budget for the project.........................................................................6
Project risks and their responses......................................................................................................7
Distinguishing Quality techniques in a project................................................................................7
Task 2...............................................................................................................................................8
Activities for the project..................................................................................................................8
Time management of the project.....................................................................................................8
Cost Analysis of the project...........................................................................................................11
Time-phased budget.......................................................................................................................12
Skills and competencies for the project.........................................................................................13
Concerns for the project.................................................................................................................13
The stages of project life cycle......................................................................................................14
Leadership in the project...............................................................................................................16

Managerial and control issues identified with the project.............................................................16
Conclusion.....................................................................................................................................18
References......................................................................................................................................19

Introduction
The dealings with the recent study related to the preliminary characteristics of a project, its scope
of statement as well as the section of Work Breakdown Structure incorporated in a project has
been depicted here (Harrison and Lock, 2017). Critical Path and Gantt Chart have been presented
along with the project. In addition, cost studies, time management, capabilities and abilities,
related to the project are presented in the project (Schwalbe, 2015). Apart from these, the
discussion also involves the stages of life cycle, initiatives worries control and managerial issues
related to the project. These will also obtain DEF Ltd related contextual study with the help of
ABC PLC. An organization needs a proper project management. This is because an appropriate
way of managing projects will ensure that the conveyed matter is correct and is ought to provide
incentives against the business chance. Project management has an important project conveyance
because it provides a guarantee of thoroughness of its fitting well according to needs and
requirements of the project.
Task 1
Important characteristics of a project
As the project management institute has indicated, transitory project is a characteristic of a
project and is tried in order to make an exceptional article, result and management. The most
important characteristics and traits of a project have been shown with the help of a definition to
be novel and impermanent to be particular. A transitory project is said to be having a start with a
positive note and a definite end of every project, although the end of the project is reached when
the goals of its are attained. In spite of what may be expected, as the project comes to an
endwithout attaining its goals. This kind of a project contributes to something, which has
previously not been done, being the main characteristic of this kind of a project. There is a single
timetable, resource allocation and target determination for every project (Grant, 2016). Each of
the characteristics of the project has a significantly important role to play in their respective
projects and their attainment.

Project scope statement
For the definition of scope of a project, the recognition of the three key elements is extremely
important. For instance, with respect to restrictions, the company ABC PLC has the
responsibility of providing guarantee of the starting up of another office along with the operation
requirements of the new office that is yet to be opened.The centre offices are incorporated in the
arrangement. The others are excluded from the scope of any scope. There may be certain
exceptions for the project,for instance, the preliminary hardware for the new office introduced
fittingly and must not exceed the financial plan.
Work Breakdown Structure role (WBS)
A WBS or Work Breakdown structure is essential for the chiefs of the project for planning the
work in a more efficient manner (Kerzner and Kerzner, 2017). The allocated and time-bound
activities can be referred to as a project. The time and cost for each of the project is fixed,
respectively. The operational plan for the project management needs to be prepared. However,
fixed and practical costs need the conclusion of the respective projects. The main responsibility
of Work Breakdown Structure is reducing complex activities to the gathering of offices (Fersht,
2017). The projects must be measured along with free considered limitations. The Activities of
Work Breakdown Structure can be calculatedin the project management. The connected bundles
related to some assignments in order to provide guarantee and check the costs of the projects and
exceeding their total cost is the role of WBS.

Gantt Chart
Critical Path
Diagram 1: The Network Diagram (Activity-on-note)
(Source: Created by author)

Table 1: Duration of paths through CPM diagram
(Source: Created by author)
The system that has the longest span is known as the critical path. Therefore, A-C-F-H is the
critical path for the particular case. Twenty-two days are needed for the project to complete and
has been marked in red in the above diagram of network. Thus, the duration required for the
project completion is twenty-two days.
Approaches for producing a budget for the project
The approaches that are used in order to manage a budget are Milestone Analysis along with
Earned Value Analysis (Fleming and Koppelman, 2016,). Both of them provides usefulness to

the objectives of each of the applications. The approach of Earned value Analysis determine the
forward or backwardness of the activities done by the employees along with the measurement of
plan. On the other hand, less management exertion is required for the Milestone Analysis in
order to set up the project and abode by it.
Project risks and their responses
The methodology used to distinguish, break down and react to the risk elements is known as risk
management (McNeil, et al., 2015). It is applicable throughout the life cycle duration of the
respective projects. Risk management is necessary in a project as it helps in the recognition and
assuming the potential risks that may come in the way. The risk control, risk measurement and
reaction and advancement of risks are affected by it. The recorded risks must be updated
regularly that are archived in order to provide guarantee to the goal of results that the employees
can get hold of.
Distinguishing Quality techniques in a project
In order to complete the project in its full efficiency, it is extremely important to manage the
quality of the respective projects. In order to maintain the quality of the project, taking into
consideration its end goal, the approach of project management is a technique that is used in
order to control and constantly upgrade the products and the applied methodology (Martinelli
and Milosevic, 2016). At the time of executing the project, implementation and planning of the
fundamental works is assisted by PCDA in order to confine the blunders of the same. In addition,
In order to help the PCDA cycle, a developmental technique for the evaluation must be in
connection to the survey process as authoritative errands such as introducing, purchasing and
hardware testing.

Task 2
Activities for the project
Acquisition and merger for DEF Ltd a d ABC PLC includes all the activities in relation to the
corporate mergers. The original company operates the association acquisitions as well as the
interchange of business activities to a separate division. Due to the project being a situational up
gradation of the issues of the company and includes rebuilding, the situation can be called as an
outer business rebuilding. The activities that are integrated in the project extends from the
creation of procedure along with a mature understanding of the aspirants, reconciliation,
investigation as well as interchange of arrangements to the joining procedure. It could be
differentiated into three undone projects.
Amidst the explorative previous project, this business case has been produced. The checking of
techniques, competitor choice and assuring the action plan will be done and resolved in this
project (Denzin, 2017). The foundation of the exploratory level is generally dawdled by the
original organization. It has connection with the lawful or budgetary interchange that consists of
agreement advancement, transaction, set up of terms and conditions along with antitrust leeway.
The project are majorly run with the help of external aspects and components and their effects
and implications. Moreover, they cannot be controlled effectively and tend to advance by itself.
Time management of the project
Task
Mode Task Name Duration Start Finish Predecessors
Auto
Schedule
d
Acquisition of DEF Ltd by ABC
PLC 40 days Fri 04-
05-18
Thu 28-
06-18

Auto
Schedule
d
Formulating of strategy 8 days Fri 04-
05-18
Tue 15-
05-18
Auto
Scheduled Making negotiation 4 days Fri 04-
05-18
Wed 09-
05-18
Auto
Scheduled Development of the contract 4 days Thu 10-
05-18
Tue 15-
05-18 3
Auto
Schedule
d
Forming term as well as
conditions 5 days Wed 16-
05-18
Tue 22-
05-18
Auto
Scheduled Antitrust clearance 3 days Wed 16-
05-18
Fri 18-05-
18 4
Auto
Scheduled
Evaluating customers and
competitors 2 days Mon 21-
05-18
Tue 22-
05-18 6
Auto
Schedule
d
Systematic candidate selection 22 days Wed 23-
05-18
Thu 21-
06-18
Auto Financial transaction 4 days Wed 23- Mon 28- 7

Scheduled 05-18 05-18
Auto
Scheduled Legal transaction 5 days Tue 29-
05-18
Mon 04-
06-18 9
Auto
Scheduled Testing and assessment 3 days Tue 05-
06-18
Thu 07-
06-18 10
Auto
Scheduled tracking behavior 5 days Fri 08-
06-18
Thu 14-
06-18 11
Auto
Scheduled Post evaluation implementation 2 days Fri 15-
06-18
Mon 18-
06-18 12
Auto
Scheduled Evaluating the customers 3 days Tue 19-
06-18
Thu 21-
06-18 13
Auto
Schedule
d
Implementing the project 5 days Fri 22-
06-18
Thu 28-
06-18
Auto
Scheduled Implementation the project 5 days Fri 22-
06-18
Thu 28-
06-18 14
Table 2: Gantt Chart

(Source: Created by author)
The nodal activities require a genuine plan or policy in order to assist feature risks along with the
activity improvements of time. This approach is important to evaluate and discover the aspects
where the project t is lacking in. It is also useful to provide a visual depiction of the project along
with a helpful way of discovering the aspects it is backward in. In this approach, activities are
neededin order to plan as nodes along with the separation into some variable factors. It is
imperious to describe the most appropriate time for beginning the project. Movement is also
involved in the procedure. Providing solution to the backwardness of the project results in the
excellent outcomes. The time required portrayed takes into consideration the maximum time that
may be required for their completion. However, they may be completed before that as well. It is
possible if the appropriate resources and factors are available for completing the task.
Cost Analysis of the project
Time-Phased Budget Data for acquisition of DEF Ltd.
Episodes Name of the Expense Expense
Amount
Accumulate
Expense
1 Development of strategy $4,200 $4,200
2 Legal as well as financial
transaction $2,925 $6,125
3 Tracking behaviour $3,350 $9,475
4 Testing as well as evaluation $1,525 $10,000
5 Implementing the project $7,000 $20,000
Total budget $53,800
Table 3: Cost Management
(Source: Created by author)

In the assessment of cost management. The development of the strategies are noticedto be the
initial stage before the practical introduction of the project.Along with being the initial stage, it is
also very crucial as it identifies the fund amount that is needed to complete the particular stage.
As a manager of the project, the development of strategies are extremely important to the person
because they will help in starting the project along with providing the way in which the project
can progress and move further. In addition to that, the stage where the development of strategies
are done, the manager of the project needs a number of human resources. This incurs a lot of
expenses of the company. It is here that the project is practically implemented and it is
considered to be the most expensive. For the completion of the project, a lot of resources are
required in this stage particularly.
Time-phased budget
1 2 3 4 5
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
$5,200
$7,125
$8,475
$11,000
$19,000
Time Phase Budget
Accumulated Expenses
Episodes
Figure 2: Time-based project

(Source: Created by author)
Skills and competencies for the project
The services that are oriented to the product and the forms of project management can cover the
skills and competencies of the project. Without the important knowledge of the methodology that
is implementedin the project, the characterization of the project and its chances cannot be done.
A composition can be made out of the processes of project management (Walker, 2015). For
instance, the initiation of activities, procedure arrangements, official procedures along with their
control as well as shutting forms. With the help of outcomes and processes, the connection of
procedure gatherings can be made. It becomes a contribution to the other.
In this project, the acquisition techniques needs to be paid the most importance that should have
been benign. After that, as a project manager who has a certain responsibility, it is important to
be included in the process of gathering in the company. From this perspective, it is important to
be positioned in the arranging of parts, their usage and the final stage of the project.
Concerns for the project
The inclusion of purchasing products is needed by the business of any company in general along
with the perspective of substantial as well as additionally subtle elements. The creation of items
without preparation imposes extra work pressure for the business of the company. The company
can make a product that is more contrasted with the bought products from a seller. The creation
of items is important in the time that is not operated in the kind of product. The business of a
company grows with the help of an aspect that provides nourishment for it. Innovation or
speciality to a product can be brought about by including useful materials and characteristics to
it. However, the product’s volume can be made as needed by the project.
All the sections are used is considered to be an advantage for the project that must be utilized
fully in order to strengthen the stages of the respective medium. It is an important observation in
the perspective if propelled and video resources. Sounds and visuals should be used fully in any
kind of records or archives. In an exception use of character, innovative resources, substance

flexibility and interface are required. In the same way, according to resource innovation, the
topics and philosophies must be contradicted and argued on to derive more informative and
constructive knowledge about the aspect. Due to an intense competition between the
organization of high-road sustenance and beverage retailers, there should be smart obtainment of
financial aspects with the time that is allocated for each of them.
The stages of project life cycle
The life cycle of a project can measure the work that is incorporated into a project from its
beginning to the end. A few periods for the life cycle can be there, for instance, its initiation,
arrangements, its execution and its conclusion. At the initial stage of a project, in the case of a
business as well as its objectives, is made along with the inspection of the assets the company
has. Moreover, the life cycle of a project can be assessed with the measurement of income of the
products that is created through the time of origin until a certain time where its progress has
stopped. Five stages are integrated into the life cycle of an item.
The stages of the project life cycle are integrated from the initiation of the project, its planning,
its execution as well as the control and monitoring of the project and its end (Heagney, 2016. ).
At the initiation of a project of a business and its targets, is made according to the assets the
company has, Following that, the team finds for answers in order to attain the objectives that the
project has laid. A certain arrangement is made along with a transition of activities in order to
complete the project successfully in the whole process of the project. The last stage of the project
includes the final objectives and its related activities along with the derivable aspects, for
instance, the final report provides the valid reports of the whole progress of the project. In this
project, it initiates with the implementation of the methodology that is the most appropriate
where the arrangements, progress of agreement, set up of terms and conditions are prepared.
Following that, the project ends with the aspects related to finance, legal exchanges along with
the sending of project. However, stages of life cycle of the project have been described as
follows:

 Project initiation: In the life cycle stages of the projects, the starting of the project is the
first stage to be taken into consideration. In this phase, the value of the project along with
the viability of the project are measured and calculated. Two tools are required for doing
the task as a manager of the project :
1. Study of viability: Here, the objectives laid down by the project are evaluated according
to the costs as well as time of the execution of the project. It also assists in balancing the
needs and requirements of the project with the available resources.
2. Case document of the business: The justification of the requirements of the projects are
helped by the case documents along with incorporating the potential estimation of the
financial benefits.
 Planning the project: Following the project confirmation, a strong plan is required in
order to guide the team and maintain the budget of the project along with the estimated
time. A correct project planning provides a framework to the materials and resources that
are procured from them that are required along with the finance. The plan of the project
provides a direction for the team in order to handle the risks, managing the suppliers,
receiving good quality result along with the communication of potential advantages to the
shareholders or investors. The planning of the project makes the team to be ready and
prepared for the obstacles that the company may face as the project progresses.
 Project execution: This phase is generally related to the management of the project.
Project execution is also related to the formulation of deliverables. This phase is
important for the attainment of customer satisfaction. This phase mostly depends on the
stage of project planning. Effort as well as work at the stage of executing the project is
derived itself from the phase of planning the project.
 Project regulation and monitoring: This phase of regulating and monitoring a project is
associated with the stage where the project is executed, monitored and regulated is done
at the same time. As the team executes the plan of the project, the need to monitor and
keep a track of the progress constantly. For meeting and ensuring the needs and
requirements of the customers,the team needs to keep a track of the tasks in order to
prevent the scope of stealing, evaluating the KPI along with tracking the changes of the
time and cost.

 Project closure:The project manager or the team closes the project when it is able to
satisfy all the requirements of the clients and the client receives the finished product. This
is an important stage of the life cycle of the project because it helps the project manager
to evaluate and document the project. The identification of mistakes are done and
rectified accordingly in order to ensure that they are not repeated in the following
projects.
Leadership in the project
The manager of the project needs to decide in certain parts of it in order to characterize some
project obligations and detailed connection in the management of designs. The sources of data
required by the manager of the project are laid down as follows;
 Technical prerequisites
 Organizational factors
 Interpersonal concerns
 Logical maters
 Political issues
The resources obtained from corporate processes are portrayed as the general standards of
working as well as administrative databases. Following that, the special requirements, issues of
calculation, relation and politics are needed to be evaluated correctly by the managers of the
project. The successful project managers in their respective projects [practise appropriate
management skills along with convincing initiative abilities. In this project, appropriate
management skills are identified and compelling characteristics are produced. With the
specialized project managers, the use of practices in the management as well as the project itself
in the organization are portrayed as an accomplishment of the activities. The managers of the
projects should be fully accustomed with the usage of philosophies in the projects that will help
the present project to advance with its correct implementation. From this perspective, the
coordinated effort of the team along with the methods applied are considered to be the
capabilities of the project manager.

Managerial and control issues identified with the project
As the initiation of the foundation of the project announces, the project partner is considered to
be an association or individual gathering that influence the activities and outcome of the project.
The project partners along with the associated experts and chiefs of the project incorporate the
managers of the project. The responsibilities of the project managers involve that each of the
partners will be developing a training field. It is important for them to hiring efficient workforce
in order to accomplish the targets successfully. A cost version integrates the arrangement and
execution of a project. The cost evaluation requires the assessment of cost. Before conveying the
products to the customers, the mistakes are identified and resolved. Following that, evaluations
and tools for assessments are required in order to perform remedial activities and evaluating
works.
Managing a project is similar to the dealings in business application. The important functions of
a project are the arrangement, sorting and controlling for the project to be successful. However, a
good quality and efficient project needs to meet the determinations. In this project, it is important
to manage and control the project in order to produce reliable outcomes at every step along with
being completed in the allocated time.

Conclusion
Effective project management is required for the project to be successfully completed. Setting up
of clear objectives help in the effective project planning and management. With the help of
Critical path identification and Gantt Charts the project will be able to be completed within time.

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