Project Management: Network Diagram, Risk Precautions, Critical Path, Project Evaluation, Gantt Chart, and Useful Information

This report covers various aspects of project management such as network diagram, risk precautions, critical path, project evaluation, Gantt chart, and useful information. It includes tasks related to Megabyte Software, Inc. and provides insights on how to maintain and monitor project progress.

Project Management

Table of Contents
INTRODUCTION ..........................................................................................................................4
TASK 1............................................................................................................................................4
Construct a network diagram identifying the following:............................................................4
TASK 2............................................................................................................................................5
Provide at least 4 generic precautions that a Project leader may take to ensure that there is no
delay on any of a project’s activities...........................................................................................5
TASK 3 ...........................................................................................................................................6
Assume that there is a delay of 3 days in completing activity T06. Critically evaluate two
different possible actions that the Project Manager could take to avoid exceeding the current
length of the critical path.............................................................................................................6
TASK 4............................................................................................................................................7
Discuss the three measures by which a project is evaluated and at least 2 factors that
impact/weigh-in on project success ...........................................................................................7
TASK 5............................................................................................................................................8
Demonstrate, with an example, how the use of assigning an RPN to potential risks that may
occur during a project helps towards reducing the impact of such risks on the project. ............8
TASK 6..........................................................................................................................................10
Using the Network Diagram information provided, create a Gantt Chart against which project
progress may be monitored. .....................................................................................................10
TASK 7 .........................................................................................................................................13
Identify and discuss two useful pieces of information that a Gantt chart may be used to reveal
which a Network Diagram does not. ........................................................................................13
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................15

INTRODUCTION
Project management will termed as an effective set of management and with adequate
implementation of abilities, sense of knowledge in management. By maintaining spectacular
actions and their exertion of project in terms of the aims and desires that will require to be get
satisfy. It will also deals the suitable manner to devise the managerial sections and will offers an
adequate set of direction to the project executive in respect to execute all the actions as according
to an adequate criteria and accomplish success (Aliasser, and Adesta, 2021). The following
report is based on the Megabyte Software, Inc., and will also create plans in respect to maintain it
efficiently. The report lead to cover network diagram and risk precautions will also advised for
the growth and implementation of project.
TASK 1
Construct a network diagram identifying the following:

The above mentioned diagram is underneath basis and prepared in order of network diagram.
Early Start Activity Number Early finish
Slack time ACTIVITY NAME
Late Start Duration Late Finish
As it is the abbreviated course in order to maintain the manner to implement various task. As
according to this project the shortened time let on the case of project is T01, T02, T04, T05, T09,
T10, T11, and T012. In respect to ascertain the answer, in very rapid way is that are the length of
the presented actions.
TASK 2
Provide at least 4 generic precautions that a Project leader may take to ensure that there is no
delay on any of a project’s activities.
Unexpected delays are termed as one of the major and common issues in the project
management as effectively and efficiently (Chang, Wiewiora, and Liu, 2021). As in the
management of Megabyte Software, Inc., there are various causes for delays such as, by having
change in the project, resources will become unavailable, the project time slide will not arranged
suitably, targets and deliverables will not termed as realistic in the project constraints, external
marketers will not delivers not fix time, communication among project stakeholder is not
efficient and many more.
As there are four basic sections to manage the risk that are as follows -

 Avoid – The basic and primary thing to do with a risk is to avoid at primary level and will
effectively deal with suitable set of the activities and actions. As it is commonly maintain
the dealings by identify the risk factor and will overcome it before it will harm the entire
project. The efficient manner is to avoid this risk is to move away from the formation but
it will not be a suitable option to avoid it (Leong, 2021). Project manager should identify
the manner of the risk and will try to overcome it as effectively and efficiently by which
they will not faced any issues in future. Mitigate – It is an another option in which if the risk will not get avoid it will be mitigate
it as effectively and efficiently. It will deliberate the manner with sort of the activities that
will have an impact on it to perform the risk management sections of the project. As it
will termed as the mitigation of strategical risk that will have a quick outcome on a
project group that will measure active and suitable sections to decrease the chances and
its impact of the destructive risk of a project. It defines a diminution in the probability or
its impact of a contrary issues in satisfactory terms as effectively and efficiently. Transfer – It will termed as an effective manner to deal with risk and will transfer to
somebody else to accept it in terms of the project management. It will termed as a most
common manner to do it for the project executives within the project.
 Accept – When the project executives will not avoid, mitigate or transfer the risk then
they have to accept it (Lithonius, 2021). As on the other side, if they accept the risk and
they will also select its variable options and they will occur as effectively and efficiently.
If they will not get avoid the risk section then there is nothing an available option to do to
decrease its impact then they will accept as per to their choice.
TASK 3
Assume that there is a delay of 3 days in completing activity T06. Critically evaluate two
different possible actions that the Project Manager could take to avoid exceeding the
current length of the critical path.
The critical path term will maintain the sections of the point with high set of intensity on
the field of the actions in project. It will maintain the current manner that have shortest time
period to complete all mannered actions in a suitable manner if there is a delay of 3 days in
completing activity T06. As in the management of Megabyte Software, Inc., it will termed as a

series of actions by a high status sections of overall network from primary to finish, the total
amount of length will identify the global manner of duration as effectively and efficiently
(Marnewick, and Marnewick, 2021). Critical path analysis is an activity that are based on
programming method that will identify the overall duration of the determined task that are based
on estimation and valuation and logical dependencies.
As there are two diverse possible actions that the project manager could take to avoid exceeding
the current length of the critical path that are as follows -
 Shorten the length of the project work as suitably the task with the critical manner of the
path.
 Break a suitable or critical manner of the task that might be worked on at the similar
period by diverse resources as effectively and efficiently.
TASK 4
Discuss the three measures by which a project is evaluated and at least 2 factors that
impact/weigh-in on project success
3 measures by which a project is evaluated Output – The term of output will measures the assess manner of the conception and
choice of the finished goods, and effective set of the output to evaluate the basic sections,
It will assess the point by which the finished goods will accomplish the manner of the
programme or project management aims as effectively and efficiently. In the context of
Megabyte Software, Inc., monetary value will becomes highly tough as the target
orientation will shifted from input to final result as because of the major impact of
components that are external to the plans (Shou, and et.al., 2021). Input - Input is termed as the measure of the resources such as money, people, and time
that offers for the actions that might be assessed as effectively and efficiently.
 Process - Process will termed as the measure of the actions by comparison that what is
completed and how might be finished as per to the regulation of the process or the
amount of procedure or the stages in a period of time in the project management.
2 factors that impact/weigh-in on project success

 Comprehensive Planning – It will directly supports and assist the team members to meet
the essential deadlines to satisfy their consumers and stay well organised as effectively
and efficiently in the business of management.
 Open Communication – An open communication channel is an essential key factor in a
project and for its effectiveness and its success in management (Strong, , and et.al.,
2021). As when the team is working on particular section it will be managed that the
team will maintained effectively. As in the context to the Megabyte Software, Inc., it will
be essential to inform their team members about each and every aspect of project
management.
TASK 5
Demonstrate, with an example, how the use of assigning an RPN to potential risks that may
occur during a project helps towards reducing the impact of such risks on the project.
Risk Effect Possibility Mitigation
 Power let-down Low High As there is requirement for planning of
the setup or creator to phrase the
contrary effects of power variation.
 Improbability Moderate Low Managers might create declaration as
per to the future uncertainness on
before sections and will create plan of
action to maintain them.
 Contrary impact on
surrounding
Low Moderate Focusing on surrounding work and
safety.
 Pulling- out by
supporters
Moderate Low Phrasing suitable plan of actions to
recollection of involvement of
supporters.
 Low time
management
Low Moderate As there is requirement of developing
arrangements for all the work as
according to its time of wind-up

 Inadequate
management of event
High Low Developing formulation of all the
critical needs of circumstance
 Safety and status Low High Satisfying safety and status while the
performance of events.
 Social issues High Low Compile impression of all the
orientated gathering
 Deficiency of
medical activity
Low Moderate Adequate manner of management of
medical activity for the manpower and
visitors.
 Risk of occurrence Moderate High Require to sort the schedule of all
necessary products that are require to
control it.
 Failure of position
and goodwill
High Low Presenting all the actions of
circumstances in an organized manner.
 Security of staff High Moderate By taking suitable and applicable
safety measures for the circumstances.
 Failure of equipment Moderate Low To corroborate that there is an
adequate term of the management of
the sections.
 Financial failure Low Low To create a progressive activity and
organisation will needed the monetary
funds.
 Authorisation from
the localised
government
Low High Allow all the important and required
approval from the localised structure
on graphical form as before
circumstances.
 Diminutive area Moderate High Choose the high set of fields that are
based on desirable group action.
 Hygienics High Moderate Create an adequate standardised and
hygienics that are sanitised properly.

 Lack of staff faculty Low High Recruiting the required sort of the
individuals to maintain the activities
and actions.
 Resolution of issues
and conflicts
High Moderate As there is a requirement of suitable
study and investigation of resolution
of issues and to mitigate negative
sections..
TASK 6
Using the Network Diagram information provided, create a Gantt Chart against which project
progress may be monitored.

TASK 7
Identify and discuss two useful pieces of information that a Gantt chart may be used to reveal
which a Network Diagram does not.
The network diagram is termed as a visual or a graphical representation of the several
approaches and plan of actions that are highlight in the certain project. Network diagram is a sort
of depiction of the project field of the activities in which the business of management will make
their key terms to maintain their dealings (Yang, and et.al., 2021). However, by creating a high
set of network that will help the management in helping the sections through Gantt chart in
achieving the role in fascinating and an adequate set in an arranged framework of time. It is a
sort of visual set of perspective that will maintain the dealing that develops a manner among
several plan of actions in the activities. As it will also involves the suitable set of terms with that
create the sections of events in context to the Megabyte Software, Inc., it deals the basic set of
manner as effectively and efficiently in the business.
CONCLUSION
From the above mentioned report it has been concluded that, project management is a critical
manner of work in which the management are utilising the manner to maintain the sort of
practical applications and orientated fields will rely on execution of the task. As on the other
side, it has been discussed that it is critical for project manager to evaluate and create decisions
that are based on the project management and approaches. As in context to the following report,
it will also supports to the risk and its precautions in considering the manner of interest and
power of it in the management. To support the manner of the project methodology report that has
the suitable term of risk analysis that is important tool to measure the risk by which the
management can perform the work on the diminution of risk management project to destruct or
overcome the suitable manner that might be done by performance of training and growth
sessions.

REFERENCES
Books and Journals
Aliasser, A. and Adesta, E.Y., 2021. Development of Agile Project Management Framework in
Oil and Gas Companies in Kuwait. Asian Journal of Electrical and Electronic
Engineering. 1(1). pp.8-14.
Chang, A., Wiewiora, A. and Liu, Y., 2021. A socio-cognitive approach to leading a learning
project team: A proposed model and scale development. International Journal of Project
Management.
Leong, Y.Z., 2021. BIM (Building Information Modelling) Implementation for Construction
Project Management (Doctoral dissertation, Tunku Abdul Rahman University College).
Lithonius, L., 2021. Creation of project management framework: towards more structured,
effective and common way of working on projects in the case organization.
Marnewick, C. and Marnewick, A., 2021. Insights into managing project teams for Industry 4.0.
In Research Anthology on Cross-Industry Challenges of Industry 4.0 (pp. 1508-1528).
IGI Global.
Shou, W., and et.al., 2021. Lean management framework for improving maintenance operation:
Development and application in the oil and gas industry. Production Planning &
Control. 32(7). pp.585-602.
Strong, E., and et.al., 2021 PITSTOP Project Management Group, PITSTOP Collaborators and
Ali, K., 2021. Patient decision‐making and regret in pilonidal sinus surgery: a mixed‐
methods study. Colorectal Disease.
Yang, X., and et.al., 2021. Enabling projects for strategic implementation: Role of designated
project manager in CEO-TMT interface during project front-end investment
decisions. International Journal of Project Management.