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INTRODUCTIONProject management is concerned with managing projects in the precise manner so that eachstage of particular project can be accomplished in precise and efficient manner (Ronen, Lechlerand Stohr, 2017). In this context, the following report is classified into two tasks. In task 1,answers of questions will be provided and in Task 2, project management plan for ABC plc willbe provided.TASK 11. Characteristics of projectProject managers describe six categories of project which are described below:1.A project is specifically for a client and customers2.Project nature is temporary. It starts with the motive and terminates when the motive isfulfilled.3.There are numerous sets of requirements which are associated with the project and whichmust be delivered within the boundaries of project.4.A project can typically be more of a once off endeavour, rather than something that’shappening all the time in a repeated fashion (Defusco and et.al., 2016).5.A project is a process rather than a businesses.6.A project is cross functional or indeed cross organisation.2. Scope statement and role of Work Breakdown structureScope statement refers to the statement in which project manager describe the outcomesof project. It is defined briefly and explicitly so that project clients can comprehend it precisely.It is the statement that depicts that project will cover all the activities in the manner so that theproject goals and objectives can be accomplished (Basu, 2016). Work Breakdown structure is thechart that represents the activities allocated to following team members associated with theproject. If the work breakdown structure is constructed in precise manner, than the project willattain its desired scope effectively and efficiently. 3. Gantt Chart and Critical PathTask NameDurationStartFinishPredecessorsa5 daysFri 5/25/18Thu 5/31/18b4 daysFri 6/1/18Wed 6/6/18Ac2 daysThu 6/7/18Fri 6/8/18Bd3 daysThu 6/7/18Mon 6/11/18B1
e5 daysMon 6/11/18Fri 6/15/18Cf7 daysTue 6/12/18Wed 6/20/18DFrom the analysis of information it can be understood that the project will take 26 days tocomplete. 4 Approaches to generate budget for specific project budgetThere are different approaches used by project managers in order to create budget for specificproject. Some project managers utilised project budgeting tools and techniques in order toestablish project financial data. The approaches used by project managers for generating budgetis described below:Analogue: This approach used by project manager where he or she used actual costs ofprevious project in order to determine cost of new project (Martinelli and et.al., 2017).Parametric: The budgeting approach is used for estimating budget for project scope, costand duration. Top-Down Method: This method is used for calculating cost for each process andactivities associated with the project.Standards: The project cost has been determined using standards budgeting tools andbudgeted cost of work.5 Project RiskThere are ample of risks which are associated with the project. In order to accomplish the aimand objectives of the project it is essential for project manager to identify the risk and eliminate it2
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