Managing Operations and Projects

This document provides a comprehensive guide on managing operations and projects. It covers various aspects of project management, including project scope management, project time management, project cost management, project risk management, and project communication management. The document also includes a case study on organising an academic event for Boolmsbury Institute.

Managing Operations
and Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Overview and Scope of project...................................................................................................1
Project Cost Management...........................................................................................................2
Project Time Management..........................................................................................................3
Project Risk Management...........................................................................................................5
Project Communication Management.........................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management is a practice in which number of activities defined through project
plan is initiated for performance. In project management planing, organising, managing and
controlling of various project related activities are performed so that goals and objectives
specified for project is achieved. Project plan is defined in which number of activities and
management of all the organisational skills are defined. In this project a plan needs to be
prepared to conduct an event (Butler, Vijayasarathy and Roberts, 2019). The plan cover al the
key areas of project which are project scope management, project time management, project cost
management, project risk management and communication management of the project.
MAIN BODY
Overview and Scope of project
This project is initiated in order to organise an event for Boolmsbury Institute to arrange
a three-day welcome and induction event for the next academic year. The event will take place in
September 2020 and all the activities needs to be arrange for such event. This event will be held
at large scale and number of activities needs to be performed to provide this event. A venue will
be provided, decorations will be done, stage will be build, different segments will be organised
for students and parents, welcome facilities will be arranged. Together with this some
influencing and knowledgable speakers will be called. Catering services, food and beverage
facilities and a desk for information will be provided to arrange such event.
The project is arranged by Boolmsbury Institute so that communication regarding quality
and quantity of academic services provided in the institute (Eskerod and Jepsen, 2016). This will
help to increase market for the institute and intakes for the next year will be made facilitated. The
project is available with constraint to make accurate prediction for number of participants
through which necessary arrangement can be made. For the last years details of the event it is
assumed that there are approx thousand of participants are expected in the event. Work
Breakdown Structure tool will be used for this project so that all the activities will be divided
into small parts to ensure its effective performance. WBS of this academic event is as follows-
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Academic Event
Project Cost Management
Cost management is a process through which number of activities involved in
performance of a project is evaluated on the basis of cost involved. The process of cost
management involves planning and controlling of all the activities related to the project of
academic event. All the expenses that are estimated to be incurred is mentioned in this plan and
their evaluation is made to ensure its viability. Their are number of tasks that needs to be
performed for in project management and resources such as people, equipments, funds etc. are
required. While initiating with the project management plan resource analysis will be made to
identify requirements of different resources in order to ensure their arrangement for
accomplishing the project in suitable manner (Fleming, 2019).
Budget is the most important part of a project as it specifies the availability of funds
required to manage all the activities for the event. A plan is designed to ensure accurate spending
on different activities of business and it is termed as budgeting. Budget plan of the project
specifies that £50000 is allocated in order to complete the project. On the basis of this budget
allocation of funds to all the activities of the event will be made and some amount of surplus will
be hold so that any uncertainties can be made. Budgeting is an important tool for the project plan
as all the decisions are influenced through available budgets. Monitoring of the plan can be based
on the financial resource by accessing the expenses made and the actual value generated through
such resource utilisation.
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Particulars Amount (£)
Venue 5000
Decorations 3000
Stage formation 1000
Section formation 2000
Light and Water 1000
Security 500
Manager and helpers 2500
Welcome Event 8000
Speakers 2400
Food and Beverages 12600
Catering 1500
Help desk formation 1500
Other services 9000
Total 50000
Cost baseline will be implemented for the academic event of Boolmsbury Institute as it
will provide an authorised time-phased spending plan for the project. This will help to make
analysis for the performance of the project. As cost baseline while evaluated provides actual
results and plan will be modified based on proper management.
Project Time Management
Time management is an activity through which time spend on different activities of
project is analysed and managed. It helps in identifying approximate time involved for
accomplishing the project. Effectiveness of the project increases when each activity is managed
properly and accomplished in the time allocated for the same (Heagney, 2016). Time
management requires skills and knowledge regarding complete details of the event and arranging
these activities in a manner so that objectives can be fulfilled. In order to manage time for the
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project for academic event of Boolmsbury Institute number of tools will be used and some of
them are as follows-
Gantt Chart: It is a graphical representation which helps to decode the project schedule.
Through Gantt chart timeline is provided which represents project management tools to
demonstrate how a project will be initiated. Their are number of activities performed for
organisation an academic event and each activity possess some start date and end date to
calculate the time taken in completion of the whole project. Usage of Gantt chart facilitates
development of task schedule which make it easy to understand what activities will be performed
and time taken to perform such activities (Kusters, 2016). Thorough this a clear time frame is
provided to each task so that its completion can be communicated in the project management
team to make performance on time and as per plan. Though, there is some amount of
complexities involved in formation of this chart but huge amount of benefits made this challenge
worth the hard work performed to prepare Gantt Chart for the event project.
Network diagram: It is a graphical representation of each task to view different task,
their dependencies on other tasks and also critical path of the project will be accomplished.
Through this all the activity of the task will be evaluated and tracking of the activities form
beginning of the project till it finishes is made. Through this digram interrelation of different
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activities are analysed and schedule of their performance is prepared so that completion of task
can be made as per provided schedule.
Critical Path Analysis: It is a project management technique through which time
allocated to different projects are initiated (Papke-Shields and Boyer-Wright, 2017). Each task in
the project is mapped at this stage so that event is organised as required by Boolmsbury Institute.
Time required to complete a task and dependencies of each task over other is related so that a
best suitable path for completion of all the activities of the event is completed.
Project Risk Management
Risk is the amount of uncertainties related to accomplishment of the project as per plans.
In order to avoid and manage such situations risk management practices are initiated. Risk
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management is a process through which potential risk involved is identified in advance. Analysis
of risk involved is made so that required steps to reduce the negative effect of risk is taken. Risk
management is an important activity as it helps in making a project more secure and certain with
its results by taking precautions.
The process of risk management starts with risk identification in which all the potential
risk that are available to accomplishment of event is recorded. Their are number of risk related
for the academic event of Boolmsbury Institute. Time management, change in requirements,
some uncertainties, technical risk are related while the project is accomplished for making
project arrangement. After identifying related risk analysis of each risk is made in which
potential impact that a risk can make to the completion of the project is made. On the basis of
this analysis steps to minimise such situational risk is made. The process of risk assessment is
accomplished with a matrix in which risk at each level of the project will be defined. This is a
simple method through which consequences of different risk is analysed and its impact will be
made. When all the risk of event will be identified and analysed then a risk response will be
provided (Rockcastle, Adomaitis and Binder, 2016). Planning and decision making will be made
to control the risk based on the perspective provided by project management team. The risk of
time will be minimised with effective time management, technical risk will be managed through
arranging suitable technical service provider and keeping all the immediate actions ready to be
taken when any unforeseen situation arises.
Project Communication Management
Effective communication is a key towards successful accomplishment of projects. As it
leads to transfer of information at each stage of project as and when required. It is essential in
order to ensure that effective planning, organising, creation and distribution of management and
controlling activities are made. Project when available with effective planning requires execution
of the plan when communication takes place as per effective communication made. Through this
best ideas, thoughts and information available at each stage is improved. Communication is
managed in the project through establishing a stakeholders matrix. As it helps in analysing goals
and objectives available towards different stakeholders of business and their achievement.
Communication helps in establishing goals of business in such manner so that goals of
stakeholders are considered important to achieve with project. Plans are designed in such manner
that accomplishment can be facilitated.
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A communication plan will be designed in the business so that a policy which defines
communication system is applied among different stakeholders of business. Through this plan
person to whom specific information needs to be provided is specified. A proper communication
channel at each stage of project is established (Swann, 2018). A well defined communication
plan when introduced to project of event management for Boolmsbury Institute then a well
defined communication channel is made available. Transfer of information will become clear
and quick as each member of project team will know whom to communicate. Decision making
will become clear and quick based on some relevant information communicated.
All the tools of project management when performed in effective and productive manner
then accomplishment of project will become more certain.
CONCLUSION
From the above project report on managing operations and projects it has been concluded
that project management when performed in effective manner is available with number of
activities. Risk management, time management, communication management are some tools
which helps accomplishment of project more successful. Their are number of methods through
which these management activities are performed and these methods are used to generate best
suitable results. All the actions as per project plan is taken and each activity will be performed in
time as per communicated risk and rewards so that best results can be generated.
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REFERENCES
Books and Journals
Butler, C. W., Vijayasarathy, L. R. and Roberts, N., 2019. Managing Software Development
Projects for Success: Aligning Plan-and Agility-Based Approaches to Project
Complexity and Project Dynamism. Project Management Journal,
p.8756972819848251.
Eskerod, P. and Jepsen, A. L., 2016. Project stakeholder management. Routledge.
Fleming, Q. W., 2019, January. Project procurement management: contracting, subcontracting,
teaming. Project Management Institute.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Kusters, J. F., 2016. The value and necessity of the project management plan: the pre-award
phase of BVP projects from the vendor’s perspective.
Papke-Shields, K. E. and Boyer-Wright, K. M., 2017. Strategic planning characteristics applied
to project management. International Journal of Project Management. 35(2). pp.169-
179.
Rockcastle, G. C., Adomaitis, R. A. and Binder, M. P., 2016. Solar Decathlon 2017 D-1: Project
Management Plan.
Swann, M., 2018. Elementary Stem Program project management plan.
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