Project Planning and Completion: Tools, Budget Template, Closure and Balanced Scorecard

This article discusses project planning and completion tools like logic network, Gantt chart, PERT chart, Work Breakdown Structure, and Product Breakdown Structure. It also covers the importance of budget templates, planning for project closure, post-implementation review, and balanced scorecard. The article is relevant for MBA-Project Planning and Project Completion.

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MBA-Project Planning and Project Completion

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Description for Project Planning Tools
Project management tools comprise a logic network, Gantt chart, product Breakdown
Structure, PERT chart as well as Work Breakdown Structure.
Logic network: This tool is used to indicate the workflow of activities in a project over a
certain period by showing how logically activities follow each other (Kerzner, and Kerzner,
2017). Accordingly, this tool is significant in my scenario because it will help me in the
identification of the critical path and milestones in my project. Thus, it will help me in
understanding the dependencies in my project workflow and timescale, which will help me
not to overlook any valuable information.
Gantt chart: A Gantt chart is a project management bar used to give a track of different task
in a project over time. Indeed, this tool is significant to my project scenario because it will
help me highlight different project milestones, tasks, phases, in addition to the resources
required for the project.
Product Breakdown Structure: It is a hierarchical tree structure of elements that make up a
project’s deliverables arranged in a whole-part connection (Kerzner, and Kerzner, 2017). The
PBS is useful to my project scenario since it will help me in clarifying the things that are to
be done by the project and also facilitate to the construction of the work breakdown structure.
The program evaluation and review technique (PERT) Chart: It is a project model used
to analyze tasks that are included in accomplishing a certain project particularly the time
required to accomplish every task by identifying the minimum period needed to accomplish
the entire project.
Work Breakdown Structure: It is a hierarchical decomposition of the deliverables required
to accomplish a project, which is further broken down into small manageable work packages
that can be scheduled, assigned to individuals and cost.

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Summary of the Work Breakdown Structure
A WBS acts like a compass direction for project deliverables used to organize a project’s
work into small manageable sections.
Gantt chart Project Structure
My project scenario will involve the following:
The project is expected to take 41 days to completion
Task Name Duration in Days
Initiating
Development of project charter
2
Planning
Scope statement development
4
Executing
Create
Edit
Finish
9
Monitoring and Control
Issue tracking
Progress report
Quality control
Closing
18
Presentation

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Summary of the Budget Template
A project budget template is used to show the financial costs of a project, which gives an
estimate of all the money required to run a project to completion. Therefore, a project budget
has to be monitored keenly since it is the heart of any project.
Importance of Planning for a Project Closure

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Planning for project closure plays a significant role to help the project manager to recall all
that is still left that should be done in a project. Therefore, project closure entails the
following activities:
Importance of post-implementation review (PIR)
The PIR process aids project managers to identify system flaws, some requirements that need
to be modified, ways to enhance performance.
The measurement of performance measures helps project managers to ascertain if indeed the
project has become a success since it offers a starting point for developing future learned
lessons (Bhola, Kluckow, and Evans, 2014, p.925).
Summary of the Balanced Scorecard (BSC)
It is strategic planning as well as a management system that is used by organizations to do the
following
 Communicate things that they are attempting to complete
 Aligning of daily work activities that are to be performed by each person in a
sequence of priority
 Measuring and monitoring tasks progress against the strategic targets
 Give priority to project services and products

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Potential Issues that are likely to arise when a Project Closure is not performed
Project closure entails checking to ensure that the project activities were accomplished in the
right way and to the satisfaction of the client’s needs (Kerzner, and Kerzner, 2017).
Therefore, failure to do project closure leads to the following:
No clear feedback that can be used to improve the final product.
Minus a report to evaluate the project, it can be challenging to determine the operational
needs that should be involved in monitoring as well as maintenance once the project is
handed over.

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Bibliography
Bhola, K., Kluckow, M. and Evans, N., 2014. Post‐implementation review of pulse oximetry
screening of well newborns in an A Australian tertiary maternity hospital. Journal of
pediatrics and child health, 50(11), pp.920-925.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.