Principles of Project Management - Desklib

This presentation discusses the principles of project management, including cost variance, schedule variance, organization zoo model, and more. It also covers the current status of a project undertaken by ProCon Services Australia and Vella IT offices Fitouts. The presentation concludes with a discussion on the existing team environment and references for further reading.

PRINCIPLES OF PROJECT MANAGEMENT
Name of the Student
Name of the University
Author Note:

Table of Content
 Introduction
 Current Status of the project
 Cost Variance
 Schedule variance
 Additional information required by project manager
 Organization Zoo Model
 Existing team environment
 Conclusion
 References

Introduction
 ProCon Services Australia,
which is a project management
consultancy
 Vella IT offices Fitouts, who is
mainly undertaking a large
number of fit outs of medium
size office buildings in Sydney
suburb

Current status of the project
 The original schedule was for completion in a
total of four months, commencing on 1 March,
and completing on 30 June.
 On investigation, it is found that the work on
the ground floor is only 75% complete, the first
floor is 25% complete and the second floor is
25% complete. Also, the top floor is 50%
complete, ahead of schedule.

Cost Variance
 A standard cost variance can be easily defined as
the difference between baseline cost and actual
cost. The variance is mainly used for monitoring
the total value of cost which is incurred by a
given.
 It is the duty of management to take responsibility
when a material negative variance is incurred. The
standard from which variance can be calculated is
mainly derived in large number of ways.

Schedule variance
 Schedule variance can be easily calculated by
subtracting budget cost of work schedule from budget
cost of work performed.
 Budget cost of work performed generally measures
the total budget of the entire project. Schedule
variance percentage in project management KPI
mainly provides an idea regarding how much the
manager stick to the terms of percentage

Additional information required by project
manager
 There are large number of additional information which
is required by project manager like status report, risk
report, board or executive report, resource report.
 The report can be considered to be outcome which is
seen after risking various kinds of reviews.

Organization Zoo Model
 The person at the top of the organization may be
considered as a poor kind of leader. They can easily
occupy good kind of job position but it does not relate
to the fact that they are good leader.
 The project manager of this case study Tony Faultier
was considered to be belligerent, even bullying,
project manager. The whole team noticed him as
somewhat lazy in nature in his work..

Existing team Environment
 The existing team environment of this project
is considered to be good. It is considered to be
brainstorming, collaborative and also tend to
focus joining various kinds of projects.
 This type of dynamics is considered to be
beneficial and rewarding for large number of
people who can easily communicate with the
project

Conclusion
 From the above discussion it can be easily
concluded that this report is all about ProCon
Australian which is a project management
consultancy. Vella IT offices mainly Fitouts the
undertaking of medium size building in Sydney
suburb. A team along with project managers is
much focused on performing the given work. The
Fitout is a part which needs to be completed in the
given time and the project manager that is Tony
Faultier have just left the organization suddenly
without providing any kind of notice.

References
 Binder, J., 2016. Global project management: communication, collaboration and
management across borders. Routledge.
 de Carvalho, M.M., Patah, L.A. and de Souza Bido, D., 2015. Project
management and its effects on project success: Cross-country and cross-industry
comparisons. International Journal of Project Management, 33(7), pp.1509-1522.
 Dong, Y.H. and Ng, S.T., 2015. A life cycle assessment model for evaluating the
environmental impacts of building construction in Hong Kong. Building and
Environment, 89, pp.183-191.
 Eastman, C.M., 2018. Building product models: computer environments,
supporting design and construction. CRC press.