SIM335- Managing Projects: A Comprehensive Guide to Project Management Concepts and Techniques

This comprehensive guide explores the fundamental concepts and techniques of project management, covering key characteristics, scope statements, work breakdown structures, budget development, risk management, and quality assurance methods. The report delves into a real-world case study involving the acquisition of DEF LTD. by ABC PLC, a food and drinks retailer in the United Kingdom. Through detailed analysis, the report demonstrates how effective project management practices can ensure successful project execution and achieve desired outcomes. It provides insights into project life cycle stages, managerial skills, and the role of a project manager in leading and coordinating project activities.

SIM335- Managing Projects
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Table of Contents
Task 1...............................................................................................................................................4
1) Define the key characteristics of any project..........................................................................4
2) What is the Scope Statement for a project? What role does the Work Breakdown Structure
(WBS) have in such a statement?................................................................................................5
3) Using the information below, plot out a full project Gantt chart and identify the critical
path. How many days does it take to complete the project?........................................................6
4) What approaches exist to generate a budget for a specific project budget?............................9
5) How can project risk arise? Outline the various responses to risk that may be taken within
project management...................................................................................................................10
6) What quality methods (project evaluation, monitoring and control) would you introduce to
ensure a project is completed successfully?..............................................................................11
Task 2.............................................................................................................................................13
Project Scope Statement............................................................................................................15
Work Breakdown Structure.......................................................................................................16
Project Budget...........................................................................................................................17
Work flow Chart........................................................................................................................18
Gantt chart.................................................................................................................................19
Characteristics and skills of a project manager.........................................................................20
The Project Scope Statement.....................................................................................................21
Project Life Cycle and Stages....................................................................................................22
References......................................................................................................................................25
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Task 1
Introduction
The task aims at identifying the project concept and its various attributes such as work break
down structure, the scope of planning, budget, Gantt charts, risk management and quality
assurance approaches.
1) Define the key characteristics of any project.
A Project may be defined as a group of various interlinked activities and processes in order to
achieve certain pre-defined derivable. A project may include the following characteristics:
 Temporary- Projects are temporary in nature as they are deemed to be completed within
a specified time period. It has a definite start and end point.
 Budget Specified-The projects are executed under a specified budget and are determined
to be completed under the defined budgets (Kerzner and Kerzner, 2017).
 Cross-functional- Projects are identified as a cross-functional group of activities that are
interlinked.
 Consumer-Centric- Projects are consumer-centric processes that are focused towards
accomplishing the needs and objectives of the consumers.
 Resources-Projects requires various types of resources such as financial, human,
technological and raw materials.
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2) What is the Scope Statement for a project? What role does the Work Breakdown
Structure (WBS) have in sucha statement?
A scope statement for the projectcan be defined as a document which records for the project aims
and objectives, processes, functions, budgets, time schedule period, work breakdown structure
and the project baselines etc. The scope statement is developed to depict the projects objectives
and the outcomes that are to be accomplished through the project activities (Burke, 2013). The
statement document provides with project assumptions and various criteria on the basis of which
the project will be assessed and valued.The statement is developed to aid in the project
management and decision making activities for the project functions and processes.
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3) Using the information below, plot out a full project Gantt chart and identify the critical
path. How many days does it take to complete the project?
Project Gantt charts and Critical Path are developed for determining the time that will be
undertaken to complete the projects and its various activities. Gantt chart represents for the time
that will be undertaken to complete the various project stages and processes. The critical path is
the scheduled path and flow structure of the project that will be followed throughout the project
life cycle. As per the following time schedule, 26 days will be required to complete the project in
a successful manner.
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(Figure: Work Breakdown Structure)
(Figure: Critical Path)
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(Figure: Gantt chart)
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4) What approaches exist to generate a budget for a specific project budget?
There are several approaches available to generate a budget for a specific project. The budgetsare
the pre-defined amount of financial resources that will be required in order to undertake the
project functions and processes. The approach towards developing a project budget considers for
various types of project costs and expenditures. The project budget considers for Direct and
Indirect costs as the basic types of costs involved in developing a project budget (Harrison and
Lock, 2017).The direct costs includelabour costs, material costs, travel costs, technical costs and
training costs etc. Where else the indirect costs includemanagerial costs, communication costs
and operational costs incurred in various project processes. The budget approaches also include
for controlling measurements, monitoring measurements, and quality assurance activities etc.
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5) How can project risk arise? Outline the various responses to risk that may be taken
within project management.
Project risks are various obstacles and uncontrollable activities that takeplace due to natural and
human errors. Risks and uncertainties in projects are normal and are predictable to some extent.
In order to control the project risk, certain risk responses are developed in advance to execute a
reformative and secondary approach in the project lifecycle.The types of risk that are identified
are scope risk, scheduling risk, resource risk, capital risk and technological risks etc.The
responses to risks are as stated approaches or strategiesas below:
 Mitigation- Project Risk Mitigation includes various strategies and approaches that
enable to reduce the impact or influence of the risk on the project outcomes and
deliverables.
 Avoidance- Project Avoidance is the risk response through which the risk is completed
eradicating and out ruling the cause or reason for the risk in the project (Kerzner and
Kerzner, 2017).
 Transfer-Risk Transfer is the response to risk through the risk is completely transferred
to a third party outside the operational areas of the projects.It is done so to reduce the
costs of the risk, for example, assigning a sub-contractor or an insurance agent.
 Acceptance-Acceptance is undertaken as a risk response when the probability of its
occurrence is very low and it is acceptable as a part of the project.
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6) What would quality methods (project evaluation, monitoring and control) you introduce
to ensure a project is completed successfully?
Numerous types of quality methods are available in order to ensure the successful competition of
the projects. Project quality methods such as project evaluation, project monitoring and project
controlling can be undertaken. Project evaluation is executed in order to access the
performanceof project through evaluating the project performance and outcomes with some pre-
defined project performance standards. Project monitoring refers the activities undertaken in
order to monitor and control the project processes. Controlling activities in the projectare
undertaken by the tools and techniques cause and effect diagrams, control charts, flow-charting,
and histogram etc.
The methods that can be adopted by this project are stated as below:
 Project Quality Plan-This plan is developed in order to measure and assure the quality
of projects. The scope statement develops the quality plan in which various criteria for
assessing the quality and performance of the project are depicted and stated (De los Ríos-
et. al., 2015).
 Project Teams and roles-The project teams and roles are developed in diversified
projects in order to maintain and control the quality of project processes. Project teams
provide with project managers and regulators that assure the project quality and
performance as per the scope statement.
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Conclusion
From the above discussion, it can be concluded that various types of approaches and project
controlling systems are required in order to assure the quality of the projects. Project scope
statements and controlling activities are effective tools for successful execution.
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Task 2
Executive Summary
The report has been developed in order to establish an understanding of the merger of DEF LTD.
with the ABC PLC. The ABC PLCis a well reputed and established food and drinks retailer
company in the United Kingdom. The report has been established in order to create a complete
understanding of the merger between the two high street businesses. The report has been
presented by the Project Manager to communicate on the various project management aspects
and concepts. The report will present with a clear understanding of the successful management
of the projects through effectiveproject management tools and techniques. The analysis of the
report is determined to provide withan understanding of project life cycle, processes, managerial
and leadership skills indulged in the project processes etc. The report is aimed at establishing and
communicating the execution and controlling of the project with aspects such as costs, budgets,
work break down the structure, scope statement etc.
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Introduction
The merger or acquisition of a business is studied in the report for successful management and
execution of the projects. Projects are interlinked and integrated activities that are directed with
the aim to fulfil the projectderivable and the objectives of consumers form the project. Projects
are developed as a sum of various ancillary activities and tasks or processes that are aimed at
successful execution and implementation of project undertakings. The case study for this report
is the acquisition of DEF LTD. by the ABC PLC, which is a well reputed and long-term working
brand of the United Kingdom. The report will consider the various concepts and attributes
required in the process of acquiring the running business of DEF LTD. the offer of acquisition
has been accepted in principle by the managers and board of directors of DEF LTD. It has also
been identified that several terms and conditions are required in order to successfully manage
and execute a project in the contemporary business environment.
The report will provide with a description for understanding and inculcate the required
techniques and terminologies for successful project management. The techniques and managerial
aspects such as administration, leadership, budgets, project life cycle stages, and processes etc.
will be studied in the report.
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Project Scope Statement
The project is aimed and intended to study and execute the acquisition of DEF LTD. by the ABC
PLC. The ABC PLC is a food and drinks retailer which is a large-scale organisation of the
United Kingdom. The organisation has a market reputation for successful mergers and
acquisitions which has strongly and positively impacted on the concerns of the DEF LTD. The
project is deemed to be completed within a time frame of 26 days with the effective acquisition
of the running business and its ancillaryprocesses of DEF LTD.The value is established to be
$250, 00,000 entailing a contingency reserve of 15% of the budgets and costs incurred in the
project.
The project undertakings will commence on 1st of June, 2018 and are estimated to be
accomplished by 26th of June 2018. The time frame undertaken for full-fledged acquisition is 26
days. The project will execute and establish various project tools and techniques of management
and administration. The project will consider additional deliverables and decision-making
process for the acquisition. The achievement of project outcomes and deliverables will be
considered as client’s acceptance criteria for the project terms and conditions.
Signature:
(Name) Project Client
For DEF LTD.
Date:
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Work Breakdown Structure
The work breakdown structure provides with opportunities to distinguish and diversify the
project functions and processes.The Work breakdown structure provides with a hierarchical
outline. It is developed as per the time schedule and budgets of the project.
Breakdown Description Code Completion Time
Deliverable 1 Acquiring of the
assets and liabilities in
full amount
D1 2 Weeks
Deliverables 2 Provisions for
causalities and
conflicts
D2 3 Weeks
Deliverable 3 Installation and
execution of the
contracts
D3 1.5 Weeks
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Project Budget
The project budgets are financial statements and documents that represent the costs and
expenditures that will be undertaken in the project life cycle and its processes. The budgets are
pre-defined statements and estimations of the project costs and finances that will be required in
order to execute the project. Budgets are also termed as pre-defined cost structures for various
project processes and procedures.The budget developed for this project is stated as under:
Activity Labor (€)
Material &
Equipment
(€)
Trainin
g (€)
Travel and
Transportation
(€)
Total (€)
Television and
Radio 80000 280000 10000 8000 378000
IT Development 80000 210000 10000 8000 308000
CCTV and
Security 80000 240000 5000 8000 333000
Office and
administration
cost 120000 360000 8000 8000 496000
Overhead cost 100000 100000 5000 8000 213000
Total Cost 460000 1190000 38000 40000 1728000
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Work flow Chart
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Gantt chart
A Gantt chart is a graphical representation of the time schedules for completing the project and
its various activities. It embarks for the completion of various project stages and processes as per
the pre-defined structures and time schedules. The Gantt chart for this project is developed as
below:
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Characteristics and skills of a project manager
A project manager is a key person in executing and managing the project throughout its lifecycle
and project processes.The project manager is required to anticipate and execute various project
processes and procedures for successfully accomplishing the projectobjectives. A project
manager is also required to manage and lead the project in the most effective manner. The
project manager in this case study John is required to depict the following characteristics and
competenciesin order to effectively accomplish the project deliverables.
 Providing with Leadership- The project manager is required to depict the leadership
skills and competencies in order to execute the acquisition in most effective manner,
leadership provides with clear aims and direction for the project teams (Ramazani and
Jergeas, 2015). It further motivates and encourages the project teams and its members to
achieve the desired goals and objectives as per the pre-defined flow charts and structures.
 Change and growth management-Project manager is also required to
demonstrateeffective change and growth management. Change management is required
to execute and implement the identified changes and alterations in the project
effectively.The growthof the project is fostered by the effective management and
execution of project management skills depicted by the project manager.
 Management of Resource-The project manager is also required to depict effective
management of the various resources occupied in the project implementation and
execution. Various types of resources are deployed in the projects such as technical,
financial, human and artificial intelligence etc. (Nixon, et. al., 2012) The project
manager is therefore required to effectively manage and integrate the efforts and
competencies of these resources for successful project management.
 Team Building-It is another essential aspect of the managerial skills and competencies
required by the project manager. As projects are diversified and vast scaled, these require
numerous resources and workers working together. Thus the project manager is required
to inculcate the spirit of team buildingand management in the projects.

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The Project Scope Statement
A project scope statement is a document which entails all the briefing and details of the project
management and execution of the project. The projects require effective management and
administration of the various stages and activities. The project scope statements contain all the
project aims and objectives along with the project deliverables and outcomes to be accomplished
by the project processes(De los Ríos-et. al., 2015). The statement lays effective terms and
conditions for the project all the assumption and risk management approaches are specified in the
statement. The scope statement changes as per the requirements and specification of the project
as various alterations and modifications are identified in the project processes due to uncertainty
and risk involved in the projects.
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Project Life Cycle and Stages
The project considered in this report is an acquisition of a running business by ABC PLC. The
project is a long-term process which is expected to be completed in a time frame of 26 days.The
project is directed to effectively acquire the project. Projects contain various stages in its life
cycle which are stated as below:
 Initiating
 Planning
 Executing
 Monitoring
 Controlling
 Closing
These stages and phases of the project life cycle and its management are described as below:
Project Initiation Phase
This is the first stage of project development and undertaking process.The initiation phase is the
starting point of the project in which the initial considerations and undertaking of the projects are
considered (Hill, 2013). The stage develops various project aims and objectives, terms and
conditions, project sponsors, vision and missions etc.
ProjectPlanning Phase
The project planning phase is where the various project processes and functions are determined.
The planning phase determines for the budget formation and time frames for each project activity
or process. It also determines the project resource requirements and accesses the financial
requirements of the project (Fleming and Koppelman, 2016). The stage also determines for tools
and techniques that must be applied in order to execute the project effectively.
Project Executing Phase
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The stage is a follow up to the execution phase. The project is established in the execution and
operational processes with the actual performance of the project. The developed and produced
functions and processes are executed in the actual working environment. The stage also
accommodates for implementing various project changes and alterationsin the project life cycle.
The project scope statement is altered and changed as per the requirements and specifications.
Project Monitoring Phase
The project monitoring phase includes the application of various tools and techniques required
tomonitor the project. The phase involves for monitoring the project activities and performance
through plans and procedures (Keil, et. al., 2013). The monitoring phase identifiesfor various
defects and faults in the projects and the changes required in the project.
Project Controlling Phase
The controlling phase of the project defines for establishing various controlling activities and
procedures to keep the project on track. The controlling activitiescontrol and monitors the
progress in terms of finances and resources. Over the budget,activities are controlled and
executed in accordance with the pre-defined structures and flow charts of the projects (Harrison.
and Lock, 2017). The tools and techniques of the action plan and Gantt charts are applied to
restructure and monitor the project processes and activities.
Project Closing Phase
The last phase of project life cycle and management is closing the project. The closure phase is
required in order to complete the project. The activities and procedures are stopped and the
deliverables from the project are obtained.This stage includes project audits, reporting, finances,
and closing of contracts etc.
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Conclusion
The report has been drafted in order to create an empirical understanding of the project
management and lifecycle activity.The report has also educated and communicated on the
aspects and roleof project manager in diversified projects.Project manager requires monitoring
and controlling the project activities. The report has also educated on the perspectivesof project
management and its life cycle in diversified projects.The report has developed Gantt charts, work
flowcharts etc. to generate greater understanding of the project management.
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References
 Burke, R., 2013. Project management: planning and control techniques. New Jersey,
USA.
 De los Ríos-Carmenado, I.G.N.A.C.I.O., Lopez, F.R. and Garcia, C.P., 2015. Promoting
professional project management skills in engineering higher education: Project-based
learning (PBL) strategy. International journal of engineering education, 31(1), pp.184-
198.
 Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project
management. Project Management Institute.
 Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
 Hill, G.M., 2013. The complete project management office handbook. CRC Press.
 Hwang, B.G. and Ng, W.J., 2013. Project management knowledge and skills for green
construction: Overcoming challenges. International Journal of Project
Management, 31(2), pp.272-284.
 Keil, M., Lee, H.K. and Deng, T., 2013. Understanding the most critical skills for
managing IT projects: A Delphi study of IT project managers. Information &
Management, 50(7), pp.398-414.
 Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to
planning, scheduling, and controlling. John Wiley & Sons.
 Nixon, P., Harrington, M. and Parker, D., 2012. Leadership performance is significant to
project success or failure: a critical analysis. International Journal of productivity and
performance management, 61(2), pp.204-216.
 Ramazani, J. and Jergeas, G., 2015. Project managers and the journey from good to great:
The benefits of investment in project management training and education. International
Journal of Project Management, 33(1), pp.41-52.
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