Project Management: Schedule, Budget, Methodology, Skills, Tasks

Project Management
9/7/2018

Project Management
Table of Contents
Task 1....................................................................................................................................................2
Answer 1...........................................................................................................................................2
Answer 2...........................................................................................................................................2
Answer 3...........................................................................................................................................2
Answer 4...........................................................................................................................................3
Answer 5...........................................................................................................................................3
Answer 6...........................................................................................................................................4
Task 2....................................................................................................................................................4
Project Background...........................................................................................................................4
Project Management Methodology....................................................................................................5
Skills of the Project Manager.............................................................................................................5
Project Tasks and Schedule...............................................................................................................6
Project Budget...................................................................................................................................9
Project Communications....................................................................................................................9
Project Risks....................................................................................................................................10
Management of Project Changes.....................................................................................................11
References...........................................................................................................................................13
1

Project Management
Task 1
Answer 1
The core principles/characteristics of a project include a timeframe in which the project
requirements are to be fulfilled to achieve the aims and objectives defined for the project
within a defined budget. The resources and regulatory standards, ethical codes, and
professional codes also define a project. These characteristics and principles are important
because these enable the members assigned to the project to develop the flow of the activities
accordingly. The requirements are defined to determine the project scope and the budget,
schedule, effort, quality, and ethical principles are defined on the basis of the same. These
characteristics make sure that the members have the clarity to carry out the project tasks to
achieve the project objectives.
Answer 2
The resources that will perform the tasks during the timeline of the project will be defined in
the statement. The scope statement is defined on the basis of the project requirements and is
written keeping the several risks that may take place in association with the project in to
perspective. The scope statement of a project includes the sections as in-scope and out-of-
scope items1. The points included in-scope section are executed and covered by the project
team and the ones specified under out-of-scope are not covered during the project timeline.
Answer 3
Task
Name Duration Predecessors
Task 18 days
a 4 days
b 6 days
c 6 days 2
d 2 days 3
e 5 days 3
f 8 days 4
1 Mohammed K. Fageha and Ajibade A. Aibinu, 'Managing Project Scope Definition To Improve Stakeholders’
Participation And Enhance Project Outcome' (2013) 74 Procedia - Social and Behavioral Sciences.
2

Project Management
It will take a total of 18 days to finish the project. The Gantt chart and the critical path have
been shown in the image below.
Answer 4
While developing a project budget, the budget estimation technique is determined as the first
step and it is decided on the basis of the project scenario and project requirements. The
various types of costs that may be included keeping the project risks under perspective are
required along with the details of the project schedule, list of project activities, work
breakdown structure, project resources, and information on the project stakeholders. The list
of tools/equipment necessary for the project will also be needed.
Answer 5
Risk strategy of the project is determined on the basis of the project management
methodology that is applied in the project. For example, risk management is one of the
knowledge areas under PMBoK approach. In this methodology, the risk strategy is defined by
providing a set of six steps for risk handling and management2. These include listing of the
risks by identifying them, analysis of the risks, prioritization and evaluation, treatment,
control, and closure. A risk register is prepared in the analysis stage which is updated until
the status of all the risks is marked as closed.
Answer 6
There will be quality methods that will be carried out to determine the successful completion
and closure of the project. The methods that will be introduced will include a combination of
quality control and quality assurance measures.
2 Roque Rabechini Junior and Marly Monteiro de Carvalho, 'Understanding The Impact Of Project Risk
Management On Project Performance: An Empirical Study' (2013) 8 Journal of technology management &
innovation.
3