Project Management

This document provides answers to various questions related to project management. It discusses the role of operational plans in meeting strategic objectives, the importance of resource efficiency, and legal considerations. It also includes references to relevant research articles.

Running head: PROJECT MANAGEMENT
Project Management
Name of the student:
Name of the University:

1PROJECT MANAGEMENT
Answer to Question 1
The operational plan developed for any business is discusses its strategies objectives,
aims, mission, vision and goals. In order to meet those defined goals the actions must be taken
are also elaborated in the operational plan. It also holds certain specific plans developed for the
lower level, day to day business activities as well as processes1. The actions discussed in the
operational plan can again support and enable the respective tactical plans. The operation plan
also demonstrates the way through which the strategies can be successfully executed. The plan
describes supply and inventory details along with production, distribution and team management
approaches.
Answer to Question 2
Broad consultation is referred to as one of the most crucial approaches that need to be
followed by team members and senior management associates also. During the execution phase
of the operational plan in the operation planning cycle this consultation needs to be carried out.
It is expected that if theses processes are successfully followed by the business associates
the all the members would be able to share their point of views, business creativities and
innovative ideas with each other.
1 Ahern, T., Leavy, B., & Byrne, P. J. (2014). Complex project management as complex problem solving:
A distributed knowledge management perspective. International Journal of Project Management, 32(8),
1371-1381.

2PROJECT MANAGEMENT
Answer to Question 3
The role plays by operational plan to meet the strategic organizational objectives are as
follows:
Initiation with strategic planning: It is much essential for the business associates to
equally contribute in understanding the strong strategic plan developed for the organization.
Focus on company goals: While the question comes on operation plan the company
needs to focus on it, more for those cases where the plan is critical and lesser likely 2.
Clear communication: The working employees must follow open communication to
share their ideas and point of views.
Answer to Question 4
Invested capital and budget are generally living documents which requires frequent
review and adjustment to successfully reflect the actual circumstances which is applicable for
specific projects, working units and for entire business organization. It will also give a better
business financial climatic and economical environment. In order to check that whether the
performance is meeting preliminarily agreed target or not the review is mandatory.
It is the responsibility of the company finance manager to ensure that budget and other
financial documents are accurate.
2 Sanchez, M. A. (2015). Integrating sustainability issues into project management. Journal of Cleaner
Production, 96, 319-330.

3PROJECT MANAGEMENT
While creating the financial report for any business organization the different sources
those are to be analyzed include: budget, revenue reports, budget forecasting report, actual
financial performance and balance sheet.
Answer to Question 5
Different types of resources are there which requires to prepare the operational plan
include the below:
 Products and services
 Stock requisition and requirements
 Physical resources that includes equipments, properties, machineries as well as
facilities)
 Financial resources in terms of allocated budget and money
 Human resources (staffs, contactors and consultants)
Answer to Question 6
The terms resource efficiency is reference is referred to as the maximum amount of
money that has been supplied, net staffs hired, materials and many other assets those might be
drawn either by a person or by an entire organization to functions efficiently with a minimum
expense or efforts. The five different ways through which organizations can reduce the rate of
papers and energy wastes are as follows:
Improvement of purchase: Clear production process start up with a clear procurement
approach. Buying recycled materials will help to reduce the waste amounts. It gives production
preference those are designed for long terms.

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Improved storage: An effective inventory management system can save money by
keeping all the stages clear, uncluttered and accurately labelled.
Energy conservation: Conservation of energy can reduce the issues of green house gas
emission.
Water conservation: The business owners are required to fix the issues of continuously
dripping taps and leak pipes.
Use of renewable resources: The use of non renewable resources is applicable.
Answer to Question 7
It has been determined these days that, with the help of legislation the legal and illegal
business activities can be identified. The rules are applicable for those which are much
complicated. It is very much important for the business organizations to realize the legal rights
and their professional responsibilities. If the associates are not aware of their responsibilities then
they can break the rules details. Legal excuse can never be pointed as an excuse if the associate
even fails to know the legal rules in details. The legal rules, policies, regulations will let the
business team members aware of the ethical activities as well. The rate of occurrences of illegal
activities will also be reduced.
Answer to Question 8
In order to prepare an operational plan, the specific concerns on which the business
associates need to keep their focus are regulatory, advisory and informative components. The
business organization must ensure that, the organization is following all the standards

5PROJECT MANAGEMENT
considering local, federal state laws 3. In fact the industries those are sequentially using the
documents must include proper public utilities, federal governments, refining and health case as
well. The business organization also requires making sure that the consequences of not following
all rules are what. The policies should state the way through which employees can utilize the
services like internet while working in the company. In addition to that, informative policy is the
other informative policy needs to be incorporated in the document.
Project 1
Strategic goal Operational
activity
Measurement Person/
title
Timeline
To reduce
the risk rate
The strategic
goal of the
company A is to
resolve the
possible risks
those may
interrupt their
expected success
line.
1 unit
Project
manager
48
days
Mon
10/12/09
Wed
12/16/09
To avoid
operations
challenges
Explaining the
exact
components of
the operational
plan
2 unit
operation
manager
5
days
Mon
10/12/09
Fri
10/16/09
To obtain
beneficial
outcomes
Analyzing the
actual
relationship
between the
operational plan
and strategic
plans
1 unit
business
analyst
5
days
Mon
10/19/09
Fri
10/23/09
To improve
the
assigning
members to the
2 unit Project
manager
6
days
Mon
10/26/09
Mon
11/2/09
3 Joslin, R., & Müller, R. (2015). Relationships between a project management methodology & project
success in different project governance contexts. International Journal of Project Management, 33(6),
1377-1392.

6PROJECT MANAGEMENT
operational
activities operational plan
To gain
competitive
advantages
Analyzing
current market
trends
2 unit
Project
manager
6
days
Tue
11/3/09
Tue
11/10/09
To avoid
overrunning
cost
Feasibility
study
1 Unit
Finance
manager
3
days
Wed
11/11/09
Fri
11/13/09
To meet
business
objectives
Setting
SMART
objectives
2 unit
Project
manager
5
days
Mon
11/16/09
Fri
11/20/09
To gain
commercial
success
Project
evaluation and
review technique
identification
2 unit
business
analyst
4
days
Mon
11/16/09
Thu
11/19/09
To identify
proper tools
and
techniques
Identification
of accurate
operational tools
and techniques
3
risk
analyst 5
days
Mon
11/23/09
Fri
11/27/09
To evaluate
proper tools
and
techniques
Evaluating the
tools and
techniques
essential for
evaluating the
operational plan
3
business
analyst
4
days
Fri
11/20/09
Wed
11/25/09
To avoid
overrunning
time
Developing
operational
timeline
2
strategy
developer
2
days
Mon
11/30/09
Tue
12/1/09
To avoid
over
allocation of
time
Developing
Gantt chart and
Work
Breakdown
Structure (WBS)
1
strategy
developer
3
days
Wed
12/2/09
Fri
12/4/09
To gain
economic
Development
of professional
cost benefit
2 operation
manager
2
days
Mon
12/7/09
Tue
12/8/09

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success analysis
(Calculating
Return on
Investment/ ROI)

8PROJECT MANAGEMENT
References
Ahern, T., Leavy, B., & Byrne, P. J. (2014). Complex project management as complex problem
solving: A distributed knowledge management perspective. International Journal of
Project Management, 32(8), 1371-1381.
Cohen-Vogel, L., Tichnor-Wagner, A., Allen, D., Harrison, C., Kainz, K., Socol, A. R., &
Wang, Q. (2015). Implementing educational innovations at scale: Transforming
researchers into continuous improvement scientists. Educational Policy, 29(1), 257-277.
Conforto, E. C., Salum, F., Amaral, D. C., da Silva, S. L., & de Almeida, L. F. M. (2014). Can
agile project management be adopted by industries other than software
development?. Project Management Journal, 45(3), 21-34.
Hornstein, H. A. (2015). The integration of project management & organizational change
management is now a necessity. International Journal of Project Management, 33(2),
291-298.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology &
project success in different project governance contexts. International Journal of Project
Management, 33(6), 1377-1392.
Marcelino-Sádaba, S., Pérez-Ezcurdia, A., Lazcano, A. M. E., & Villanueva, P. (2014). Project
risk management methodology for small firms. International Journal of Project
Management, 32(2), 327-340.

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Mir, F. A., & Pinnington, A. H. (2014). Exploring the value of project management: linking
project management performance & project success. International journal of project
management, 32(2), 202-217.
Sanchez, M. A. (2015). Integrating sustainability issues into project management. Journal of
Cleaner Production, 96, 319-330.
Todorovic, M. L., Petrović, D. Č., Mihic, M. M., Obradovic, V. L., & Bushuyev, S. D. (2015).
Project success analysis framework: A knowledge-based approach in project
management. International Journal of Project Management, 33(4), 772-783.