Project Management: Scope Changes and Risk Mitigation

This document discusses project integration management, handling scope changes, and risk mitigation strategies in project management. It explores the impact of delays on cost and time, and the concept of crashing. The content also highlights the importance of project management methodologies and their practical application in professional practice.

Running head: PROJECT MANAGEMENT
Project management
Name of the Student
Name of the University
Author’s Note

1
PROJECT MANAGEMENT
Table of Contents
Task 1: Project status report............................................................................................................2
1.1 Project integration management............................................................................................2
Task 2: Project management plan....................................................................................................4
1.2 Risk management plan...........................................................................................................4
Task 3: MS project...........................................................................................................................8
3.1 Status report of the project.....................................................................................................8
3.1 Impact on cost and time before 20 days delay.......................................................................9
3.3 Impact on cost and time after 20 days delay........................................................................10
3.4 Crashing...............................................................................................................................11
Task 4: Reflection..........................................................................................................................12
Bibliography..................................................................................................................................14

2
PROJECT MANAGEMENT
Task 1: Project status report
1.1 Project integration management
The situation that arises faces a lot of challenges as the project “implementation of RFID
based car parking” due to scope changes from the initiation phase of the project which further
have resulted in different types of challenges as well as plans that are generally required from
time to time. It is found that another scope change request was generally provided by the client
that would push the deadline of the project by 4 weeks. It is analyzed that, it is very much
important to handle the scope changes during the different phases of the project and for which
the project managers need to take proper actions.
In order to handle the scope changes within the project, it is quite necessary to solicit the
request of scope change from different stakeholders of the project by including the project
clients, sponsors as well as project team [4]. After then it is quite important to enter the request
within the scope change log for successfully tracking the entire procedure. In addition to this,
before providing approval for the scope change procedure, it is quite necessary to analyze
whether the undertaken scope change within the project would bring benefits or not. Moreover, it
is also important to properly track the impact that the scope change mainly creates on project
budget, scope as well as time [5].Moreover, the person who is making the entire scope change
request can be successfully helpful in defining the entire business value for the project such that
proper decision about the scope change can be made which would be profitable for the project
and would also helpful in achieving the project aims and objectives.
During the planning and initiation phase, if the project manager has taken proper steps
then the problem of scope changes can have not occurred. Use of proper scope management plan

3
PROJECT MANAGEMENT
can be considered as one of the important criteria for the project which further helps in
successfully managing, controlling as well as controlling different types of inevitable changes
which would generally occur within the project [2]. The most important step in the planning
phase of the project is to properly plan the project scope which will further helpful in deciding,
documenting as well as defining the scope of the project quite effectively. The scope
management plan generally includes different types of information in order to handle different
types of unforeseen expectations within the projects for accepting the deliverables effectively.
The next step is to collect different types of project requirements in order to get proper idea
about the project stakeholders effectively. The needs as well as project requirements must be
collected properly with the help of interviews, surveys as well as by developing prototypes for
the entire project.
Thirdly, for creating the scope statement, one need to properly understand the
deliverables that are expected for properly defining what is included in the scope and what is out
of the project scope. A project scope generally helpful in serving as one of the guides within the
entire project. The project team members who are involved in the project can generally refer to
the project scope for knowing about their roles in the project [1]. Moreover, it is found that
development of proper work breakdown structure is generally created based on the scope
statement such that the documents that is generally developed needs to build an appropriate WBS
that is essentially disintegrated into smaller individual tasks. In addition to this, the WBS
generally includes clearly defined project deliverables that helps both the project team as well as
project managers with a number of manageable units of work within the project [2].
After the project deliverables are generally reviewed, it is quite necessary to approve
them successfully. Proper plan is developed for successfully validating the scope of the project

4
PROJECT MANAGEMENT
so that at the end of the project, it will be quite easy to accept the project deliverables, change
requests as well as update about different project documents. As the status of the project needs to
be monitored starting from the initiation phase to the closure phase for making sure that the
entire project is executed successfully with the help of the scope management plan. It is found
that implementation of the scope change management procedure generally takes both time as
well as effort for saving money and time [5]. Thus, if the project manager would have followed
all the above stated steps then the problem associated with the scope changes can have avoided
successfully.
Task 2: Project management plan
1.2 Risk management plan
In the present situation, it is identified that the regulatory change that generally affects
the wage rates within the project cost generally enhances by 15% of the budget which is
generally not accounted as a risk from the initial step therefore the management of the
organization have not taken proper steps. The increment in the overall expenditure of the project
is generally considered as one of the risks and it is quite necessary for the project managers to
handle the entire project quite effectively by resolving the risks by undertaking proper risk
mitigation strategies [8]. It is necessary for the project manager to control the expenditure of the
project for minimizing the budget that is required for the project and as a result the entire project
would get completed within the budget that is assumed in the initial phase of the project. The risk
management plan that is provided below not only determines the steps for managing the rising
expenditure but also determine the person who will be responsible for managing the risks.
Risk Description Impact & Responsible Mitigation

5
PROJECT MANAGEMENT
Probability
Regulatory
changes
It is found that
due to regulatory
change that is
sudden there is
15% increment
in the overall
budget of the
project and as
the change is
sudden, it is
quite difficult for
the project
managers to
handle the
situation
effectively and
as result it would
create negative
impact on the
project.
Impact-High
Probability-High
Regulatory
officer.
As this change is
unavoidable
therefore it is the
responsibility of
the project
managers to
keep some
budget
additionally so
that if any type
of sudden
problem arises
then the project
can be managed
without facing
obstruction
within the
progress of the
project.
Financial risk
due to increment
The increment
in the cost of the
Impact-High
Probability-High
Financial
manager
In order to
mange the risk

6
PROJECT MANAGEMENT
in the wages of
the staffs
wages of the
staffs generally
enhances the
overall budget of
the project that
is considered as
one of the major
issues for the
entire project.
that generally
arises due to
increment in the
wages of the
staffs will be
managed
effectively if the
entire project
will be
completed
within short
period of time. It
is the
responsibility of
the project team
to manage the
entire project in
such a way that
the entire project
gets finished as
per the allocated
budget.
Increment in the It is analyzed Impact-High Financial Keeping track on

7
PROJECT MANAGEMENT
overall budget of
the project
that enhanced
budget of the
project further
creates a lot of
issues as well as
challenges
within the
progress of the
project due to
financial risk
Probability-High manager the budget of the
project by
focussing on the
steps that would
be helpful in
reducing extra
expenditure of
the project such
that the project
can be managed
within the
allocated budget
though there is
increment in the
overall cost or
expenditure of
the project.
In addition to all the mitigation strategies, it is necessary for the project managers to
focus on the steps that generally helps in controlling the budget expenditure [9]. The project cost
control is mainly focussed on proper measurement of the project variances from the cost baseline
by taking proper corrective actions for achieving the minimum costs within the project. It is
analyzed that proper procedures are generally needed to be applied for monitoring expenditure as
well as performance against the project progress quite effectively [11]. It is analyzed that all the

8
PROJECT MANAGEMENT
changes that are generally done within the cost baseline should be recorded successfully so that
the final cost of the project can generally be forecasted quite successfully. When the actual
information linked with the project costs are generally present the it is necessary to control the
cost by successfully the steps that causes variances within the baseline. Additionally, utilization
of the detailed cost control tools within the project can be considered valuable for successfully
defining the procedures that are generally associated with the cost control so that the changes
within the project can be approved as well as tracked effectively [12]. Moreover, proper
reporting needs to be enhanced for making it much easier for all the stakeholders to get involved
in the project. Thus, steps that are generally suggested would be helpful in managing the
financial risks that generally arises in the project due to regulatory changes.

9
PROJECT MANAGEMENT
Task 3: MS project
3.1 Status report of the project
Figure 1: Project status
(Source: Created by Author)
3.1 Impact on cost and time before 20 days delay
The figure that is showcases below generally reflects that the project will generally get
executed within the timeline of 131 days by utilizing budget of around $200,000. Thus, it is
analyzed that before 20 days delay in the project, it is assumed that the project will get finished
within 131 days.

10
PROJECT MANAGEMENT
Figure 2: Impact on budget and cost before delay
(Source: Created by Author)
3.3 Impact on cost and time after 20 days delay
After 20 days delay, it is found that the project will get executed in 151 days by utilizing
budget of around 209, 900 which is reflected with the help of the below figure. Thus, the figure
that is provided below showcases that the delay generally creates negative impact on the project
progress as well as on the project budget.

11
PROJECT MANAGEMENT
Figure 3: Impact on budget and cost after delay
(Source: Created by Author)
3.4 Crashing
It is found that due to 20 days delay, both the completion date as well as the project
budget as per assumption increases which would further create negative impact. In order to
handle the situation, crashing is generally done. With the help of the crashing the total time of

12
PROJECT MANAGEMENT
the project is reduced and with the application of crashing it is found that the entire project gets
completed within 131 days as per the earlier assumption that was made.
Figure 4: Impact on budget and cost after delay
(Source: Created by Author)
Task 4: Reflection
As engaged with the project with the implementation of RFID based car parking system
project, I have gathered different types of knowledges as well as skills of project management. I
have learnt about the importance of different project management methodologies, project life

13
PROJECT MANAGEMENT
cycle and more. Additionally, due to the engagement within the RFID based car parking project,
I gained skills in managing the schedule and expenditure of the project. The information and
knowledge which I have gained through this project will provide me proper guidance as well as
assistance in my future project such that I can be able to complete my future projects without
facing any type of obstructions.
The feedback that I have received from assessment 1 generally highlights the areas in
which I does not have proper knowledge and skills. As per the feedback that provided, I got to
know that I does not have proper skills in managing project as well as inappropriate selection of
project management tools. The information or feedback that I have received will act as a
motivator and as a result I indulge more myself in learning those aspects of project management.
After involving myself more in the projects, I can be able to improve the issues that I face while
handling the project so that I does not have to face that issue in the coming future.
By getting involved within this specific project, I have learnt the importance of project
integration management as well as risk management plan. In addition to this, I have got to know
the roles as well as responsibilities that the project manager needs to play in order to manage the
critical situation within the project. Moreover, by getting involved with this unit I have also
learnt the steps of crashing which is analyzed to be helpful in reducing the time of the project and
generally can be used when the project is running behind the schedule. Furthermore, the
knowledge that I have received from this project will generally be useful for my future and those
skills and knowledge that I have gained will provide proper assistance in handling my future
projects.
The two guest lecturers generally provide guide me and informs me about the
professional practice of the project. Their help and guidance that I have received will generally

14
PROJECT MANAGEMENT
guide me in my future for handling the work that are mainly linked with the project. Moreover, I
have got to know that practical use of project management concepts is very much important for
the professional practice. The knowledge that I have gained will generally provide proper
assistance in undertaking my future projects quite successfully.
For my future, I need to learn about the various types of management techniques as well
as decision making skills for effectively handling the project. It is analyzed that as I face a lot of
issues and problems in successfully managing the project and additionally in taking proper
decisions during critical situations. Thus, in order to bridge that gap, I generally want to develop
my decision-making skills in the project.

15
PROJECT MANAGEMENT
Bibliography
[1] P. Serrador and R. Turner, “The relationship between project success and project
efficiency,” Proj. Manag. J., 2015.
[2] I. Kalashnikova, S. Das, and S. Seal, “Nanomaterials for wound healing: Scope and
advancement,” Nanomedicine. 2015.
[3] T. Vasvári, “Risk, Risk Perception, Risk Management – a Review of the Literature,”
Public Financ. Q. 2015, 2015.
[4] A. Moran, “Project risk management,” in SpringerBriefs in Computer Science, 2014.
[5] Project Management Institute, “Capturing the Value of Project Management,” Proj.
Manag. Inst., 2015.
[6] N. Fotiou and G. C. Polyzos, “Smart Contracts for the Internet of Things: Opportunities
and Challenges,” in 2018 European Conference on Networks and Communications,
EuCNC 2018, 2018.
[7] S. Shafiee, K. Kristjansdottir, L. Hvam, and C. Forza, “How to scope configuration
projects and manage the knowledge they require,” J. Knowl. Manag., 2018.
[8] W. Chmielarz, Information technology project management. 2016.
[9] W. Collins, K. Parrish, and G. E. Gibson, “Development of a Project Scope Definition and
Assessment Tool for Small Industrial Construction Projects,” J. Manag. Eng., 2017.
[10] A. Olechowski, J. Oehmen, W. Seering, and M. Ben-Daya, “The professionalization of
risk management: What role can the ISO 31000 risk management principles play?,” Int. J.
Proj. Manag., 2016.
[11] J. Bowers and A. Khorakian, “Integrating risk management in the innovation project,”
Eur. J. Innov. Manag., 2014.
[12] L. Grespan, P. Fiorini, and G. Colucci, “Risk analysis,” in Springer Tracts in Advanced
Robotics, 2019.