Project Management Assignment- TSK Bearings Ltd

Managing
Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK-1 ...........................................................................................................................................1
TASK-2............................................................................................................................................3
Project Objective ........................................................................................................................3
Scope...........................................................................................................................................4
Assumptions ...............................................................................................................................4
Project milestones ......................................................................................................................4
Resources ...................................................................................................................................4
Project Risk ................................................................................................................................8
The roles and responsibilities of participants in this project ...................................................12
Success and failure of project ..................................................................................................18
CONCLUSION .............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
The term managing project can be used in to start, plan, execute , control and close the
project. This project is been done by a group member at a particular time in order to achieve the
gaols of business(Riol and Thuillier, 2015). The project manager will be monitor all the work of
the project that is been started and al the things that will be needs to complete the project will be
provided by project leader. In order to meet the needs of a specific project the project
management provides the knowledge, skills, tools and techniques .In the design and
manufacturing of industrial bearings for automotive industry TSK bearings Ltd deals with. By
this company new technology will be introduced in a new manufacturing site in the UK. In this
report all the activities that will be requited to control and coordinate this project that will be
introduced by the company will be discussed.
TASK-1
Types of project
In the three categorize the projects are usually categorized they are as follows-:
Change drive – In order to match up with the current environment the change is there in the
operations.
Market drive – In response to the needs of the market the new product will be produced
Crisis driven – In response to the urgent circumstances the project is been developed .For an
instance vaccines are being produced by pharmaceutical companies(Todorović and Bushuyev,
2015).
In this project that is been made the type of project is market driven as per the requirements of
market this new product is been produced by the company TSK bearings.
Scope management
In order to define and map correctly a set of processes is defined to ensure a projects
scope. In order to complete the project techniques of scope management allows the project
managers and sponsors to allocate the right amount of work. The area of scope management is
very essential for a project manager. TSK bearings will introduce a new technology that hybrid
cars .All the hardware,software, technologies, labour etc that will be needed fort his project will
be allocated. The budget that is estimate for this product is $ 12 million pounds and will be
completed by the March of 2018.The training will also be given to the members for 12
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months .This will help them to gain knowledge and also in the implementation of the new
technology the guidance and assistance will be given to them (Too and Weaver, 2014).
Difference between Gantt chart and critical path
Against the deadline Gantt chart are an easy way to schedule task and track the progress
of the projects. Using a spreadsheet a simple Gantt chart can be done .For a complex task it is
better to make use of project management software. All the activities that need to be on in the
project need to be mention before creation of a chart and the amount of time that will be taken to
finish them. One of disadvantage of Gantt chart is that task dependency to each other is not
shown and the tasks that are critical to finishing the project on time is also not shown. So, for
that critical path method can be used .A set of dependent task are there in critical path methods.
The critical path is indicated in a CPM.
The success measures for the project
The project will be successful if it will be completed on the estimated budget and time. If
the hybrid cars is launched till the March of 2018 and in the budget that is $ 12 million pounds
then it will be a successful project. Also if the satisfaction is there in the team and customers
and communication is effective then the project will be a successful.
Managing a change in a project
In any project change request are inevitable. Through the use of change control boards
successful project managers manage effectively the change. The purpose of change control
boards is to review and prioritize change that is shown during the course of the project. On a
regular basis the meeting can be held formally or informally to review requests. In order to meet
the objective of the project changes that are necessary (Walker, 2015. ).
Methods for project evaluation, monitoring and control
The performance indicators can be used for project monitoring and evaluation. The
inputs, process, outputs and impacts of development intervention can be measures. For setting
targets they are used and towards the targets the progress is measured. The formal survey can
also be used. In this from a sample of people or household the standardized information is
gathered. The actual condition can be understood from this. The other method of project
evaluation and monitoring are the logical framework, rapid appraisal method, participatory
methods and many others.
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TASK-2
Project Objective
Background
The concept of managing project is been practices since the early civilization. For the
company TSK bearings a new technology will be introduced in this report that is hybrid cars.
There are numerous advantages of using manufacturing this type of car in the company. The
hybrid cars are environment friendly cars and this type of cars will be more preferred by the
customer today as they have become more conscious towards the environment. The introduction
of this car will grab more number of customers (Svejvig and Andersen, 2015.). It is sustainable
for the environment as due to the gas mileage that is offered by this cars. The consumption of
fuels and energy will also be cut down by hybrid cars. In the air this car will release exhaust and
the emission of carbon footprint will also be less.
Aim – To introduce an technology in cars that is hybrid car for the company TSK bearings
Objective
 To introduce a hybrid cars for TSK bearings
 To provide a sustainable cars to customer
 To produce more satisfaction among customers regarding the products that is produced
by the company.
 To complete the project until march 2018 To develop this new project the estimated budget is $ million 12 pounds
Project management
The development of successful project is major objective of this project. A indispensable role is
being played by project managers in order to make this project successful. It is the responsibility
of the project manager to guide and monitor this project. Some of the principle of project
managers are as follows-:
The cultural environment – The informed management need to give a helpful cultural
environment which will help the team to do the best work. The informed management
understands the process of project management
The process principles- The polices and produces need to be in place on order to make this
project effective and efficient.
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As per the time that is being set there are different phases that is being there in this
project. The time that is being estimated for this project is last month that is till March 2018 it
should be launched. All the phases that is planning, organizing, controlling, executing,
monitoring , closing etc need to be carried during this time.
Scope
TSK bearings will introduce a new technology that hybrid cars .All the
hardware,software, technologies, labour etc that will be needed fort his project will be allocated.
The budget that is estimate for this product is $ 12 million pounds and will be completed by the
end of 2018.The training will also be given to the members for 12 months .This will help them to
gain knowledge and also in the implementation of the new technology the guidance and
assistance will be given to them
Assumptions
 The training will be given to the employees for 12 months
 The latest and advanced technology will be used in the manufacturing of this new car
 The project will be done till the march 2018
Project milestones
Milestones Deliverable Date
Project Kick start A new care hybrid cars will be
introduced
26th January 2018
The time and cost estimation The project completion date is
estimated
28th January 2018
The people, technology for
project is allocated
The advanced technology will
be used in the project
1st February 2018
Work break down structure The work will be allocated to
different department
3rd February 2018
Resources
In order to make this project a successful one both humans and materials resources are needed.
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