Project Management Plan Importance

This assignment delves into the crucial role of a project management plan. It highlights how such a plan effectively guides all project activities, contributes to achieving set goals and objectives, and ultimately supports the maintenance of high-quality performance within organizations.

Project Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASKS.............................................................................................................................................1
1Project initiation document...................................................................................................1
2 Gantt chart with all core elements.......................................................................................3
3 Risk register.........................................................................................................................6
4..............................................................................................................................................8
(a) Significance of quality risk management plans................................................................8
(b) Relevance of PRINCE 2 as a methodology for project....................................................9
RECOMMEDATION....................................................................................................................10
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
Project management is known as the process of apply skills, knowledge, techniques and
tools for various activities of project for achieve its completion. Initiating, planning, executing,
monitoring and closing are the major activities of project management (Boyle, 2017). Further,
PM (Project management) is the discipline of using policies, procedures and principles to
manage activities of project from its conception to its completion. Every project is start with
specific objectives and goals. Individual who involve in the project do various efforts to reach
the set goals. Present project report contain information about the QAHE (QA higher education)
which wants to introduce change in its computing labs and teaching rooms in the campus based
in London. Main reason behind this is to provide students a environment of excellent learning to
provide support to their teaching. Importance of risk management plans and significance of
PRINCE 2 methodology is all given in this project report.
TASKS
1Project initiation document
Before execute a project it is very essential to do its documentation. Manager of project
prepare a PID (Project initiation document) as this support in manage all activities in an
appropriate manner (de Carvalho Patah and de Souza Bido, 2015). This highlights the funds
require to complete the project and individuals in this. Further this contain the various activities
involve in it and time require to complete the same. PID for the QAHE with the aim of renovate
contain the following information:
Estimated budget: This is a document that define the funds require to complete a project
and to achieve its set goals. Estimate the financial resources require to implement the project is
known as one of the most important activity as this ensure effective completion of project and at
the same time reduce delays. QAHE require approx 100000 pounds to buy laptop and computers
with new technology. Further with this, institute can better its infrastructure and can form a
skilled workforce. All this will support in create and offer a learning environment to all its
students.
Refurbishment Budget
Particulars Laptop Computer Furniture Manpower Total
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system
Initial money 10% 15% 20% 30% 100000
Investment 10000 15000 20000 30000 468750
Difference or retain
money 25000
Timescales: This aspect of project define the time require to complete every activity of
project and the whole project (Hornstein, 2015). Effective methods should be use by
management to minimise the time as this save both time and cost of institute. This project will
start from 15th May 2018 and will finish in 28th July 2018. 74 days require to complete the
project.
Objectives: Every project is start or is based on some objectives which provide direction
to project manager to decide various activities of project and support in allocate funds. One of
the main benefit of this is that it support in utilise all resources and at the same time help in
obtain better results. Following are the main objectives of project of QAHE:
 Provide learning environment to all its students. Renovate its computing labs and teaching rooms
Approach: This refers to the process, methods and techniques use by project manager to
complete all activities of project and to reach its set goals (Joslin and Müller, 2015). Right
approach support manager in utilise all available funds and resources in an effective manner and
increase the success rate of project. PRINCE 2 approach is use in this project.
Stakeholder analysis: Stakeholders refers to individuals who provide their support in
either direct or indirect way to firm so it can achieve its set goals and objectives. Basically
stakeholders are divided into four major categories known as: High power, low interest: Identify the stakeholders which come under this category is
not difficult for the firm. Financiers or the individual who invest in the project is come
under this category. These individual remain less interested in the project and its
activities as they known that they will get the percentage of profit as promised. Low power, high interest: Suppliers who provide infrastructure, laptop and computers to
the institute is come under this category (Kerzner and Kerzner, 2017). They remain more
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interested in the project for increase the sale of its products. Various efforts are done by
these parties to encourage institute to buy products from them. High power, high interest: This aspect cover the stakeholders that have high power and
remain more interested in the project. Top managers and other seniors of institute come
under this. These are the one who formulate strategy and ensure its effective execution
for make the project a successful one. Major decision of project are taken by them.
 Low power, low interest: These stakeholders does not have the power and do not remain
interested in the project (Portny, 2017). Employees who work in lower level and execute
basic activities are come under this.
As one of the main focus of QA higher education renovate its computer labs for create
and provide effective learning environment to its students and to support their learning process.
All these factors support in execute all activities in an effective manner and achieve desirable
outcome. With support of PID project manager can better understand the cost and time require
complete the project. One of the main benefit of this plan is that it ensure better control over
activities of project and support in utilise all resources to an optimum level. With support of
stakeholder analysis institute can identify the stakeholder who contribute more in success of
project and by fulfil their requirements institute can retain them for a long time. Overall, identify
the factors such as time and cost require to complete the project is very essential for QA higher
education.
2 Gantt chart with all core elements
Every type of business project either large or small involve some kind of risk. For make
the project a successful one, it is very essential for to identify and examine every type of risk as
this support in manage the same increase the chances of achieve better outcomes (Ramazani and
Jergeas, 2015). For this, a document called risk register is formulate by project manager contain
all risk involve in the project. One of the main benefit of this document is that it help manager in
formulate better and effective strategy for complete the project. Major risk elements that require
to be understand by the managers of QA Higher Education for create and offer a better learning
environment to all its students are contingency actions, owner mitigation, change in tax rate and
many more. Project manager require to analyse all these in a effective manner for achieve set
results.
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Project plan: This is known as written document that contain information about the
activities and time require to complete the project (Sánchez, 2015). Critical path and Gantt Chart
are the major tools use by project manager. All this support in manage activities of project for
achieve set goals and objectives. Both help manager in get a control over project activities and
save time of firm.
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 Gantt chart: This is one of the most popular tool which is used by firms for manager
their project. With help of this QA Higher Education can divide various operations of
project in small activities (Schwalbe, 2015). This make the process of project easy and
assist in utilise all resources.
 Critical path: This indicate the sequence of various activities involve in complete the
project. With help of this manager identify the shortest and longest path of complete the
project.
3 Risk register
This document support in handle various type of risk associated with management of a
project. Main risk related with the project of QA Higher Education is as follows:
Risk name Impact Pre action score Post action
score
Strategic risk This indicate the hazards related
while working with technology. In
this situation, manager require to
formulate better and effective
strategies to manage with this kind of
hazard.
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Performance
risk
This is related with how employees
perform at workplace. For maintain
their performance, it is very essential
for manager to set performance
standards with this QA Higher
Education can provide better
education services to its students.
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Legal risk This is another risk that is related
with rules and legislations which
consist sign a contract for specific
time period. TO use various
technology in an effective way, it is
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very essential for manager of QA
Higher Education to identify and
examine all these factors.
Technology
risk
This is related with the technology
use by institute to provide
educational services to its students.
When changes take place in
technology in a fast speed then this
create a problem before the institute.
Effective use of technology support
in create and offer a learning
environment to its students and help
in support their learning process.
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Uncertain
events
When contingencies take place then it
affect the project either positive or
negative way. Manage the negative
effect is very essential for manager to
achieve set goal and objective of
project.
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Resource risk Understand this type of risk is very
essential. To avoid this type of risk,
manager require to formulate a
resource allocation plan. This ensure
optimum utilisation of all available
resources and funds.
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Owner
mitigation
For manage this type of risk firm can
take loan from banks. All this
increase effectiveness of business
process.
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Scope risk Scope define the positive attributes of 10 5
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project activities that require to be
consider by manager.
Government
risk
This consist management of various
project activities under the rules and
legislations of government.
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(a) Significance of quality risk management plans
Risk management plan is a written document that contain information about every risk
involve in complete a project (Sears and et. al., 2015). Further this support project manager in
use various tools to manage the risk for achieve set goals. This help in keep all activities of
project on track and support in identify its impact on business operations. Overall risk
management plan assists in identify and manage every type of risk relate with a project.
Significance of risk management plan and process of manage the risk is given below: Identify the risk involve: Risk and uncertainty are the inevitable element of every
business project. So before implement any activity of project efforts are done by manager
to identify the risk factors and to formulate effective strategy to manage the same. This
ensure effective completion of project and support manager in utilise available resources
in adequate manner. When project manager do not formulate risk management plan then
it increase unnecessary delays and increase cost of whole project. Other benefit of risk
management plan is that it support in manage the uncertainty. Ensure good quality work: So many risk involve in a project hamper the quality of
project activities decrease the chances of project being successful (Serra and Kunc,
2015). In this case, quality management plan is the one which focus on the quality of
various activities involve in complete the project. This help in generate more profits.
With help of this QA Higher Education can provide better and effective learning
environment to its students and can boost up the process of their learning. If institute fail
to do this then it will fail to achieve its set goal.
 Enhance employee's confidence: Effective and proper risk management plan support
and guide employees in perform their roles and responsibilities in an effective manner.
All this build up the confidence level of staff members as they known how to perform in
situation of contingencies (Svejvig and Andersen, 2015). All this ensure completion of
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project activities in effective manner. For achieve its main QA Higher Education will hire
skilled candidates to perform various functions. With help of project management plan
institute can guide its employees and can provide them direction to perform their job
roles.
In this way quality risk management plan support in avoid mistakes and help in identify
the factors that could affect the quality of project. Further, this support firm in formulate
contingency plans that can be use in case of emergency. Formulation and implementation of risk
management plan is very essential for complete the project in right way.
(b) Relevance of PRINCE 2 as a methodology for project
PRINCE 2 is a approach of use by enterprises at time of execute a project or its various
activities. Control operations involve in the project at starting, in middle and at the end is one of
the main focus of this approach. One of the main feature of this approach is that it highlight the
questions such as what is the main objective of project, when this will start or end and many
more. Further this help project manager in give attention to significant elements of project.
Following points indicate the strengths and weakness of this approach of project management:
Strengths: Cost and time effective: Under PRINCE 2 approach, risk is identified starting stage of
project and this not only save time and cost of firm but also support manager in formulate
better and effective policies. All this save cost and time of firm and help in deal with
unexpected risks. Standardisation: One of the main feature this approach is that standardisation is use in
this approach which help in maintain the quality of all activities. Further this make the
communication stronger among different department of entity. It is predictable: Various steps are involve in this project management approach. All
these steps support project manager in predict the outcomes of various activities and help
in maintain a control over different activities. This help firm in get desirable outcome.
Weakness: Non realistic: This approach contain so many activities such as identify each and every
type of risk at initial stages of project. It is not possible as various changes take place
during the middle of project.
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 Complex: This approach is not a easy one and the individual who use this require to have
some unique skills. For this proper training should be offer to individual as without this
they cannot work with this approach.
RECOMMEDATION
From the above given project, it is recommended to QA Higher Education to use the
PRINCE 2 approach. With help of this, institute can get all the major benefits related with this
approach. For create and offer a better learning environment to all its students and to boost up
their process of learning, it is very for institute to develop a skilled workforce and this can be
better achieve with help of PRINCE 2 approach. With this, institute can make its infrastructure
more better and at the same time can create learning environment for its students. Further with
effective use of this approach QA Higher Education can control all its activities and can boost up
the learning process of its students.
CONCLUSION
From the above given information, it can be summarised that project management plan
support entities in manage all activities of project in an effective way and support in achieve its
set goals and objectives. This support in maintain the quality of various functions perform by
firm.
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REFRENCES
Books and journals
Boyle, G., 2017. Design project management. Routledge.
de Carvalho, M. M., Patah, L. A. and 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). pp.1509-1522.
Hornstein, H. A., 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management. 33(2).
pp.291-298.
Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and
project success in different project governance contexts. International Journal of
Project Management. 33(6). pp.1377-1392.
Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Portny, S. E., 2017. Project management for dummies. John Wiley & Sons.
Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great: The
benefits of investment in project management training and education. International
Journal of Project Management. 33(1). pp.41-52.
Sánchez, M. A., 2015. Integrating sustainability issues into project management. Journal of
Cleaner Production. 96. pp.319-330.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.
Sears, S. K. and et. al., 2015. Construction project management. John Wiley & Sons.
Serra, C. E. M. and Kunc, M., 2015. Benefits realisation management and its influence on
project success and on the execution of business strategies. International Journal of
Project Management. 33(1). pp.53-66.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature
review with a critical look at the brave new world. International Journal of Project
Management. 33(2). pp.278-290.
Online
Risk Management: an Important Part of Project Management. 2018. [Online]. Available through
:<https://project-management.com/risk-management-an-important-part-of-project-
management/>.
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