Project Status Report

Project Status Report
First national bank

Status Report 5/15/2019
Project Name MIS Project Management at First National Bank
Report Prepared By <Please Fill>
Academic Supervisor <Please Fill>
Industry Supervisor (If Any) <Please Fill>
Attachments Weekly log report
MILESTONE OVERVIEW:
ID Milestones Status
Baseline
Completio
n Date
Expected
Completio
n Date
Change
? (Yes,
No,
New)
M1 System update Under
progress
3/17/201
9
3/19/201
9 Yes
M2 System handover Processin
g
4/1/2019 4/5/2019 No
M3 System implementation and closing Processin
g
4/12/201
9
4/20/201
9 No
PROJECT STATUS SUMMARY:
Narrative Summary of Status Schedule: GREEN Budget: YELLOW Issues: RED
After analyzing the project case scenario details it is learned that, most of the project development activities are
conducted during the project planning phase. The complexity of each project development phases are analyzed in this
week to identify all possible actions those can be taken for the successful design and implementation of the project
planning phase. In order to execute the project appropriately within assigned timeline and budget the Information
System should be prepared followed by all technical and non technical requirements. Within estimated budget and cost
the project planning activities are all must be identified. In this week a quality review will be conducted for each project
work packages and sub tasks.
PROJECT MILESTONE STATUS REVIEW:
Project
Plan ID Project Milestones Status
Baseline
Completi
on Date
Expected
Completi
on Date
Issues
Exist
(Yes/No)
M1 Risk management plan Under
progress
3/17/201
9
3/19/201
9 Yes
M2 Estimation of cost and time Under
progress
4/1/2019 4/5/2019 Yes
M3 Project quality management plan Under 4/12/201 4/20/201 Yes

progress 9 9
PLANNED ACCOMPLISHMENTS SUMMARY:
Planned accomplishments for the coming two weeks:
In the coming two weeks respective change management plan for the project will e completed and accordingly a quality
management, time and cost management plan for the project will also be prepared. All project risk, time and respective
change management activities are elaborated in this week.
PROJECT ISSUES SUMMARY:
ID Priority Issue Description
Impact Summary
(Milestone, Schedule
Scope, Resources, Space...)
Action Steps
1 High Delay to deliver the task Overall effect on project
delivery time
The project manager need to
follow proper control and
monitoring actions
2 High Overrunning project budget The complete project
would be affected
Before initiation of the project,
project manager should conduct a
feasibility analysis to check that
whether the IS will be
implemented in FNB within
assigned budget
3 Moderat
e
Over allocation of resources
leading overrunning resources
The expected project
outcome will be impacted
negatively
After measuring the complexity of
each activity proper resource
management plan is needed to be
conducted by the project
associates
PROJECT RISK SUMMARY:
ID Priority
Probability
of
Occurrence
Risk Description
Impact Summary
(Milestone, Schedule
Scope, Resources, Space...)
Response Strategy
1 High Possible Lack of numbers of
associate experts
Scope management plan Before assigning proper team
members their skills and activities
are needed to be measured
2 Low Severe Inadequate
identification of
project resources
Resource management
plan
Based on project requirements
needful resources should be
identified
3 Moder
ate
Most likely Overrunning budget Budget management plan The finance manager requires to
estimate possible budget at the
project initiation phase