Project Management for ABC Company

The assignment requires creating a project management plan for the ABC company, which aims to launch an annual report presentation project. The plan includes a PID that outlines all necessary variables for managing the project, such as stakeholders, budget, timeline, quality, and risk factors. It also identifies roles and responsibilities of individuals involved in the project, including communication, monitoring, and control.

PROJECT MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................1
TA Characteristics and role of a project manager ......................................................................1
Theoretical framework and methodologies.................................................................................2
Project initiation document (PID)...............................................................................................2
Management of team in project environment.............................................................................4
Project management plan............................................................................................................6
Measuring risk and controlling ..................................................................................................8
Risk Register...............................................................................................................................9
Evaluation of project success and failure..................................................................................13
CONCLUSION..............................................................................................................................14
REFERENCES................................................................................................................................1

INTRODUCTION
Project management is the practice of starting, planning and executing certain business plans
for achieving innovation, managing changes, gaining attention of stakeholders or to achieve
specific goals. The present project is based on event by ABC company which is initiated to share
financial condition of firm with stakeholders in order to project individual interest and to seek
funds. The study will outline Characteristics and role of a project manager which will comprise
problem solver, communicator, monitor, etc. Further, the assessment will derive Project initiation
document (PID) which will include all the information about the event like Deliverables
Constraints, characteristics, etc.
TA Characteristics and role of a project manager
Project manager has the most important role in managing and building up the project. ABC
Company has to appoint manager for successful implementation of business project. The main
aim of existing project is to organise an event to launch annual report to stakeholder of ABC
Company (Muller, 2017). Role of PM in this project are described as below:
 Problem solver: Project manager is the main person which is been involved in resolving
the issues that can come between organizing event for stakeholders (Saltz and Crowston,
2017). There can be problems which can be faced by employees while conducting the
event. Issues can be associated with human resource, finance, marketing that can hamper
success of event proposed by ABC company. Project manager is responsible to find out
suitable solutions to the problems faced by employees, this can assist ABC company in
enhancing quality of event which is going to be conducted by them.
 Communicator- In order to make event successful for the stakeholders, project manager
needs to have good communication skills. They must have engaged in open
communication with the employees so that problems can also be easily solved in firm
(Harrison and Lock, 2017). This feature in project manager can help them to have
interaction with stakeholders. It will also help them in building good relationship between
project manager and shareholders. A good project manager has responsibility of maintain
effective relationship with their team members.
 Monitor- Project manager in ABC company must contain the effective monitoring skills.
They need to monitor task and have to ensure the overall progress of event. If project
manager in firm do not possess this basic skill of monitoring, then they will not be able to
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the measure success rate of project and also corrective action will not be taken at time.
This can hamper the quality of event which ABC company is going to organize.
 Task delegator- Project manager is also responsible to delegate the task so that
successful event can be organized (Brown and Grundy, 2016). This can support the
company in making event more successful and also reduces the risk of mistakes that can
occur at the time of conducting event for stakeholders. This supports person in
performing their role significantly and organising a successful event to present annual
report of ABC Company to all stakeholders
Theoretical framework and methodologies
Prince 2: Prince 2 is one of the most important methodology in project management. This
method can help the ABC company in making effective use of resources and enhancing the cost
efficiency of project. This framework can be used by the company in enhancing quality of
project and making the event more successful (Dao and et.al., 2016). This methodology lays
emphasis on making effective use of resources that can help firm in achieving business
objectives. It can support firm in growing and also project can be successful because of it. This
methodology can also help in increasing knowledge of the team members engaged in organizing
event.
Project initiation document (PID)
Project title Present annual report to stakeholder by
organising an event in ABC company.
Background ABC is the small size manufacturing firm, over
a period of time enterprise has generated
reasonable amount of profit. Recently it is
operating in London only and has two branches
in London. It has employed less than 250
employees in its workplace. Company is
planning to present annual report of business in
front of all its stakeholders by organising a big
event.
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Purpose  ABC company aims to gain attention of
stakeholders and enhancing their trust
by organising this annual report
presentation event.
 Investors are the key stakeholder of
ABC company, agenda of company of
organising this event is to gather more
funds from investors and make them
positive so that they invest more
amount in organisation.
Objectives Enhancing revenues of business unit is the
prime objective of this project.
Enhancing stakeholder loyalty is another
objective of this event project.
Project scope ABC is the small size organisation and has
limited financial resources. This project has
wide scope because by this way it will be able
to convenience investors and other important
stakeholders to invest their money in this
company, as they will get more return over
their invested amount.
Exclusion from scope Customers will be excluded from this event, as
they will not participate in this annual report
presentation event of ABC company.
Deliverables System milestones, security planning, resource
management, project planning documents will
be milestone of this event.
Constraints Limited financial resources
Limited time
Human resource constrains
Assumptions Project will be completed within specified
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budget
All project team members will support in
organising this event and making it successful
Estimated budget Organising event for presenting annual report
to stakeholder project will require budget of
£14000
Costs Scheduling cost- £3000
Furniture cost- £4000
Technical and IT cost- 2000
Accommodation cost- £2000
Miscellaneous cost- £3000
Management of team in project environment
Team working plays significant role in every project, it is very essential for project
manager that to involve all members in this project and make them positive so that they
contribute well in making this project successful. Composition of a team needs to be done by
looking at skills and capabilities of and individual. This would support in allotting right
responsibility to person.
Organising an Event to present annual report in front of stakeholder is the big project,
because ABC company will invest allot in this event with the intention to raise its funding
options. Project manager has to motivate team members and have to develop communication
with them so that team can be managed properly.
Team members Name of person Role of member Required skills
Project manager (PM) Mrs. Mariya Project manager of
this event organising
project plays the role
of organiser and
planner. Individual is
responsible for
making correct plan to
Strong
communication skill,
Team leading skill,
managerial skill,
forecasting
capabilities, directing
and planning skills
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organise this event
successfully.
Individual has to play
role of communicator
and director, as person
is accountable for
interacting with all
stakeholders and other
team members, apart
from this PM has to
guide other people so
that they can perform
their duties
effectively.
Finance manager
(FM)
Mr. Semion Euan FM is accountable for
preparing presentation
and adding all data
into excel sheet so
that presentation can
be prepared
accordingly. FM has
to allot funds for each
activity so that each
task can be sufficient
fund for his event.
Technical skills
Mathematical skills
IT staff Edward John They are accountable
for arranging
technical equipment’s,
install it. They have
to install new
software and have to
Technical skill,
problem solving skills
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resolve technical
issues whenever it
occurs during this
project of organising
an event.
Inventory manager Hugh Frederick Person is responsible
for supply chain
system for organising
this event. Individual
has to manage stock
and have to take care
of wastage as well.
Technical skill,
Coordinating
capabilities,
Project management plan
Task Name Duration Start Finish Predecessors
Planning phase 13 days Thu 5/16/19 Mon 6/3/19
objective setting 2 days Thu 5/16/19 Fri 5/17/19
arranging meeting 3 days Mon 5/20/19 Wed 5/22/19 2
drafting of an event 4 days Thu 5/23/19 Tue 5/28/19 3
measurement collection 2 days Wed 5/29/19 Thu 5/30/19 2,3,4
summary of entire plan 2 days Fri 5/31/19 Mon 6/3/19 4,5
Guest list preparation 11 days Tue 6/4/19 Tue 6/18/19
preparing list of guest 2 days Tue 6/4/19 Wed 6/5/19 6
invitation sending 5 days Tue 6/4/19 Mon 6/10/19 6
ensuring their attendance 2 days Tue 6/11/19 Wed 6/12/19 8,9
taking follow up from
guests 4 days Thu 6/13/19 Tue 6/18/19 10
Program 13 days Wed 6/19/19 Fri 7/5/19
drafting program 5 days Wed 6/19/19 Tue 6/25/19 11
host confirmation 5 days Wed 6/26/19 Tue 7/2/19 13
Accommodation preparation 3 days Wed 7/3/19 Fri 7/5/19 13,14
confirm program 2 days Wed 7/3/19 Thu 7/4/19 14
Catering 7 days Fri 7/5/19 Mon 7/15/19
obtain quote 2 days Fri 7/5/19 Mon 7/8/19 16
view and agree menu 2 days Tue 7/9/19 Wed 7/10/19 18
Confirm final numbers 3 days Thu 7/11/19 Mon 7/15/19 19
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communication 9 days Tue 7/16/19 Fri 7/26/19
printing of invitation card 4 days Tue 7/16/19 Fri 7/19/19 20
post event promotion
activities planning 5 days Mon 7/22/19 Fri 7/26/19 22,20
Presentation 1 day Mon 7/29/19 Mon 7/29/19
presenting annual report to
stakeholders 1 day Mon 7/29/19 Mon 7/29/19 23
closure 1 day Tue 7/30/19 Tue 7/30/19
Final closure 1 day Tue 7/30/19 Tue 7/30/19 25
Gantt chart
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Critical path
Measuring risk and controlling
Measuring risk is essential for the project manager as it focus es on understanding
uncertainties which can limit or can be barrier to project plan and execution.
Identification of risk: In this focus of project manager is on considering all the scenario
which can be in project like technical risks, financial, risk, scope of risk, human resources risk,
etc. Identification of risk comprise documentation and communication of plan to all the
individual involved in project. It is the foremost important tasks for company where project
manager aims at identifying risk which can arise at the time of annual report presentation to the
stakeholders. identifying the risk factors, company can plan strategies to overcome the risk
which includes human resource, technical and financial.
Risk Prevention: In order to prevent the risk the company can make use of various
strategies and techniques. The kind of techniques which can be used here includes forecasting,
planning, and making use of the best possible practices (Murrell, Piccard and Mock, 2016).
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Along with it, the risk which is related to the annual report can be prevented by ensuring that
appropriate market analysis is being done of the external environment and competitors. It can
support the organisation to over come the threats. Along with it, risk evaluation would help the
company to gain a better competitive advantage in the market. This would help in preventing
foreseen and Un-seeable risk.
Risk management: The management of risk refers to the process in which analysis,
identification, mitigation and acceptance is being done in order to ensure better investment
decisions. It is important for the company to properly manage the risk and help in supporting the
barriers to manage the required change. The organisation is going to implement the risk
mitigation model that will help the firm in managing changes that are successful under which the
steps are going to be taken where the organisation will be identifying the potential of its risk and
would take appropriate measures to overcome required risks.
Risk monitoring: The process of monitoring the risks is seen to be playing a very crucial
role in evaluation of the areas which are seen to be requiring extra attention for the mitigating
threats. The company is going to overview the whole project plan and is going to outline those
areas of such threats which are required to be managed at certain stages (Sadgrove, 2016.). The
process of monitoring also aids in overcoming the threats which are being faced by the industry
during the annual report sharing to its stakeholders. It is one of the most effective process to
enhance the growth and development of the company and its capabilities.
Risk Register
Maintaining risk register is the priority for managing successful project as it helps the
manager in minimizing areas of risk and uncertainties of project. Mitigation of risk at right time
is the best approach which helps the project manager in making optimum utilisation of resources
and timely completion of project. There are few risks that can occur in event launch which are as
follows:
RISK DESCRIPTION PROBABILITY IMPACT
Technical risk  Technical risk
of event can
be
connectivity of
projector,
High High
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lights, low of
power, server
speed,
presentation
errors, screen
errors and low
visibility.
These are the
common risk
which are
directly linked
with
presentation in
event and can
be a barrier to
stakeholder
interests. All
these technical
risks can
impact event
as per cost
effectiveness
of project plan
(Jalal, and
Koosha,
2015).
Financial risk  Risk in finance
can be majorly
due to
technical
errors because
Low High
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the
equipment’s
and
management is
expensive
(Verzuh,
2015). There
is certain
budget which
is passed for
event and if in
case there is
an error like
damage to
screen of
projector, etc.
then in such
case company
will be liable
to pass extra
budge for
making
necessary
changes to
continue event
which can
hinder cost
planning and
budget of
ABC
company.
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Human resource
risks
 This is the
type of risk
when project
manager is
unable to
involved
skilled
workforces in
project pan.
For managing
successful
event HR risk
can be lack of
qualified
skilled
labours,
responsible
individual,
unequal
distribution of
responsibilities
, lack of clarity
over roles in
event. These
are the type of
risk which can
lead to
mismanageme
nt in event
(Kerzner and
Kerzner,
Moderate High
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2017).
Controlling and monitoring risk and quality
The risk management plan is needed in preparing the PM of the company. It is the
responsibility of an individual to identify constraints and managing it well in order to accomplish
the overall objectives
Risk reassessment: It requires to be done by the company's project manager to organise
and event to present the annual reports to the organisation's stakeholders (Bucero and Englund,
2015,). It is the responsibility of an individual to identify the risks and require to find the best
solutions for the identified problem. It is important to set a skilled person which can evaluate the
complete risk so that the probability and its overall impact can be analysed properly.
Quality control techniques: It is very important for the manager of the project to ensure
that the project is meeting the requirements of the quality. In the event or project organising, PM
of ABC company needs to look at the activities which needs to be completed as per the set
standards of quality. To ensure this, the business project manager is going to review quality from
time to time and would give required training to each and every staff member. This is going to
support in minimising the related issues of controlling and quality and would maintain a better
project management approach (Clevenger, 2018.). It has been seen as the best solution of the
company to ensure that appropriate growth and development is taking place within the project
and everything is meeting according to the set quality standards.
Schedule and cost controlling: The PM of the company needs to ensure that the wastage
is being kept to the minimum and it is important for it to control over the cost significantly. The
activities are needed to be monitor closely and the progress within the communication with all of
the high authorities is going to be ensured. This is going to help in evaluating the issues and
rectifying the project on timely basis.
Evaluation of project success and failure
It is important for the project manager of the ABC company to evaluate the failure or
success of the complete proposal. The different parameters which are going to be used here
includes: Schedule: It is evaluated that the event organising project in order to present the annual
report to the stakeholders is going to be completed within stipulated time period. In order
to ensure success, it is important for the project manager to ensure that proper scheduling
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is being done. Along with it, it is going to help the project manager to ensure that set
growth and development is being done within the project. This will help the overall
project manager to reach new growth and ensure that appropriate growth and
development is taking place. Scheduling is one of the best techniques being used by the
project manager and would allows the ABC company to ensure that effective
development within the event is taking place. Quality: After well observations, it has been seen as the quality of the project is good. It
is because the foundations were prepared according to the needs and requirements and
everything is seen to be working smoothly. This explains that the quality is meeting the
set standards and each and everything is done as per the needs and requirements. Along
with it, it has been seen as one of the safest aspect that the project management is going
as per the set needs and requirements. This is helping the ABC company in reaching new
growth and is ensuring that the set developments are taking place as per the quality needs
and requirements. Cost: The cost is one of the most required parameters to evaluate the success and growth
of the project. This helps the project in reaching new growth and ensuring that
appropriate development is taking place. The cost factor provides the project with the
optimum development budget and ensure that required development is taking place
within the organisational environment of ABC company. By looking at cost it is
evaluated that the Project Manage has organised this event within stipulated budget. It is
seen to be helping in minimising the financial risks and controlling the unnecessary
expenditures
 Scope: The ABC company is seen to be aiming to increase the stakeholders investment
after presenting the annual reports efficiently. The project has seen to be successful and
has made stakeholders positive.
CONCLUSION
The project summarised project plan of ABC company which is launching annual report
presentation project to demonstrate its financial condition to protect interest of stakeholders. The
project outlined characteristic and role of people involved in project like the individual
responsible for communication, monitoring, etc. Further, it outlined PID plan which outlined all
the variables which needs to be considered when managing project. Thus, it concluded by
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outlining risk register of protect which comprise probability and description of technical
financial and human resource risk.
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