Project Management

This document provides comprehensive study material on project management. It covers topics such as project classification, payback period calculation, risk management, work breakdown structure, and more. The document also includes a Gantt chart and bibliography for further reference. Whether you need solved assignments, essays, or dissertations, Desklib has everything you need for your project management course.

Running Head: PROJECT MANAGEMENT
BUS353e: Project Management
Name of the Student
Name of the University

1PROJECT MANAGEMENT
Table of Contents
Section 1..........................................................................................................................................2
Question 1....................................................................................................................................2
Question 2....................................................................................................................................3
Answer to a..............................................................................................................................3
Answer to b..............................................................................................................................4
Answer to c..............................................................................................................................5
Section 2..........................................................................................................................................5
Question 3....................................................................................................................................5
Answer to a..............................................................................................................................5
Answer to b..............................................................................................................................6
Section 3..........................................................................................................................................7
Question 4....................................................................................................................................7
Answer to a..............................................................................................................................7
Answer to b............................................................................................................................10
Answer to C...........................................................................................................................10
Section 4........................................................................................................................................11
Question 5..................................................................................................................................11
Answer to a............................................................................................................................11
Answer to b............................................................................................................................12
Bibliography..................................................................................................................................14

2PROJECT MANAGEMENT
Section 1
Question 1
The project classification and consideration for classification are shown in the following
table.
Project Classification Consideration
Project A Strategic The new service will
significantly enhance the
strategic direction of the
polyclinic
Project B Operational This project will enhance the
operations of the polyclinic
Project C Compliance This project ensures the
compliance with Singapore
Quality Class (SQC) certification
Project D Operational This project adds a new
dimension to the operational
aspect of the polyclinic
Project E Compliance This project ensures compliance
with Personal Data Protection
Act (PDPA) policies and
processes
Project F Strategic This project is completely
strategic in nature

3PROJECT MANAGEMENT
Question 2
Answer to a
The payback period calculation is shown in the following tables.
Project A
Year Cash Flow Cumulative Cash Flow Payback (Years)
0 -250,000 -250000
1 55000 -195000
2 55000 -140000
3 55000 -85000
4 55000 -30000
5 55000 25000 4.545454545
6 55000 80000 4.545454545
Hence, the total payback period for this project is 4.55 years. In addition, from the
calculation in the excel sheet, it has been found that the rate of return for this project is 9%.
Project B
Year Cash Flow Cumulative Cash Flow Payback (Years)
0 -350000 -350000
1 90000 -260000
2 90000 -170000
3 90000 -80000
4 90000 10000 3.888888889
5 90000 100000 3.888888889

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6 90000 190000 3.888888889
The total payback period for this project is 3.9 years. Moreover, the rate of return for this
project is found to be 14%.
Between the choices of these two projects, the recommended project is Project B as it has
less payback period and more rate of return than Project A.
Answer to b
The cash flow and NPV calculation for Projects C and D are shown as follows.
Project C
Year Inflow Outflow Net Flow Present Value
0 0 75000 -75000 -75000
1 40000 3000 37000 35576.92
2 45000 3500 41500 38369.08
3 40000 4000 36000 32003.87
TOTAL 125000 85500 39500
Net Present Value 30949.87
IRR 24.632209%
Project D
Year Inflow Outflow Net Flow Present Value
0 0 90,000 -90,000 -90000
1 50,000 5,000 45,000 43269.23
2 60,000 7,000 53,000 49001.48
3 67,000 9,000 58,000 51561.79

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TOTAL 177000 111000 66000
Net Present Value 53832.50
IRR 31.788880%
Based on this analysis, TPC should proceed with Project D as it has higher values in both
NPV and Internal Rate of Return.
Answer to c
The three criteria for going ahead with Project B are listed as follows.
Criterion 1 is Payback Period. It is the highest ranked because profitability is most
essential in any business.
Criterion 2 is Technology. It is medium ranked because technological consideration is
one of the major considerations for TPC.
Criterion 3 is Rate of Return. It is lowest ranked because although the rate of return is
important, it has less priority than the previous two.
Section 2
Question 3
Answer to a
The TWT project is explained based on the seven factors influencing the choice of
project management structure as follows.

6PROJECT MANAGEMENT
Deadline – Deadline is a very important aspect of project management. It is important to
management deadlines of the project in order to avoid unnecessary complications and cost. The
deadline for this particular project is 10th June, 2019.
Budget – The decided budget for this project is $400,000 that must not be exceeded at
any cost.
Stakeholders – There will be a number of stakeholders assigned in the project based on
the role and function requirements. Some of the stakeholders required will be project manager,
technical supervisor, finance manager and others.
Project Members – The project members will include system developers and system
testers.
Demand – The project will be based on fulfilling the demands of the patients regarding
an efficient system for monitoring their health without having to travel to hospitals and perform
various costly tests.
Supply – The systems will be supplied to the patients at certain cost for health
monitoring.
Price – The price of the product will be kept as reasonable as possible considering the
development costs.
Answer to b
Stakeholder Group Role in TWT Project
Management Board Supervision and change management in the project
Development Team Development and testing of the system

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Finance Department Management and allocation of project funds
Patients Provide user requirements for the system
Section 3
Question 4
Answer to a
The revised work breakdown structure is shown as follows.
WBS Task Name Duration Start Finish Predecessors
0
TPC Wearable
Technology (TWT)
Project
86 days Fri 2/1/19 Mon 6/10/19
1
Project Coordination
and Administration
26 days Fri 2/1/19 Tue 3/12/19
1.1
Conduct Project Kick-
Off Meeting
1 day Fri 2/1/19 Fri 2/1/19
1.2
User Experience (UX)
Study
5 days Mon 2/4/19 Tue 2/12/19 2
1.3 Apply for HSA 20 days Wed 2/13/19 Tue 3/12/19 3

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approval as medical device
1.4
Procure wearable
devices and cloud
computing resources
20 days Wed 2/13/19 Tue 3/12/19 3
2
Application
Development
74 days Wed 2/13/19 Thu 5/30/19
2.1 Development 45 days Wed 2/13/19 Tue 4/16/19
2.1.1
Develop mobile app
(iOS)
45 days Wed 2/13/19 Tue 4/16/19 3
2.1.2
Develop mobile app
(Android)
40 days Wed 2/13/19 Tue 4/9/19 3
2.2 Review and Testing 29 days Wed 4/17/19 Thu 5/30/19
2.2.1
Architecture security
review
4 days Wed 4/17/19 Tue 4/23/19 8,9
2.2.2 Source code reviews 5 days Wed 4/24/19 Tue 4/30/19 8,9,11
2.2.3
System Integration
Testing (SIT) including
payment gateway
10 days Thu 5/2/19 Wed 5/15/19 12
2.2.4 User Acceptance 10 days Thu 5/16/19 Thu 5/30/19 13

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Testing (UAT)
2.2.5
Conduct security
penetration testing
5 days Thu 5/16/19 Thu 5/23/19 13
2.2.6
Deployment to
production system
5 days Fri 5/24/19 Thu 5/30/19 15
3
Infrastructure and
Security
11 days Fri 5/24/19 Mon 6/10/19
3.1
Publicise service to
pilot patients
10 days Fri 5/24/19 Fri 6/7/19 15
3.2
Train operations
support team
5 days Fri 5/24/19 Thu 5/30/19 15
3.3
Pay all vendors and
suppliers
3 days Fri 5/31/19 Tue 6/4/19 16
3.4
Launch pilot TWT
service
1 day Mon 6/10/19 Mon 6/10/19 18,19,20

10PROJECT MANAGEMENT
Answer to b
Figure 1: Gantt Chart of the Project
(Source: Created by Author)
Answer to C
The total project duration is 86 days.
The completion date of the project is 10th June, 2019.

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The project starts on 1st February and ends on 10th June, 2019. The entire schedule has
been created keeping in mind the following.
The working days are Monday to Friday.
Some of the working days are marked as public holidays.
Some of the activities can be simultaneously performed such that the overall duration can
be reduced.
Section 4
Question 5
Answer to a
Item Category Description of Risk Consequence
Risk 1 Technical
Various performance issues may
arise due to insufficient testing
The performance issues will
lead to serious
complications and reduce
the usability of the system
Risk 2 External
The customers may not accept the
system
The entire project will be
meaningless and failure
Risk 3 Organisational The existing staffs may not be
technically efficient to maintain
the system
Due to lack of
maintenance, the system
will fail after a short

12PROJECT MANAGEMENT
period of time
Risk 4 Project Management
Schedule may not be followed and
the development may take a longer
amount of time
Budget overshoot will
occur due to the schedule
issue
Answer to b
The risk response ways and the risk response plan will be selected and performed as
shown as follows.
Item Category Risk Response Way Risk Response
Risk 1 Technical Mitigate Ensure all tests are done
accurately and all the
issues are solved before
system launch
Risk 2 External Monitor and Prepare Monitor customer
response towards new
system and receive
feedbacks from the
customers before
launching the system
Risk 3 Organisational Accept Provide technical
training to the staffs
Risk 4 Project Management Transfer Instruct project
management team to

13PROJECT MANAGEMENT
follow schedule and
deliver the project
within time

14PROJECT MANAGEMENT
Bibliography
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management.
Project Management Institute.
Harrison, F., & Lock, D. (2017). Advanced project management: a structured approach.
Routledge.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Leach, L. P. (2014). Critical chain project management. Artech House.