Project Management Strategies and Risks

The assignment delves into the realm of project management, examining diverse approaches to managing projects effectively. It highlights key project management strategies and identifies prevalent risks that can potentially hinder project success. Understanding these strategies and risk mitigation techniques is crucial for effective project planning and execution.

Fundamentals of Project Management
1

Table of Contents
INTRODUCTION................................................................................................................................3
QUESTIONS........................................................................................................................................3
1. Defining the project in terms of outcomes and purpose..............................................................3
2. Project SMART objectives..........................................................................................................4
3. Specifying the project scope........................................................................................................5
4. Cost estimation for the project budget.........................................................................................6
5. Clarifying project scheduling.......................................................................................................7
6. Gantt chart, breakdown of all activities, network diagram with critical path and key milestones
.........................................................................................................................................................7
7. Critical analysis of the project stakeholders i.e. Project Stakeholder Analysis.........................11
8. Assessment of project procurement strategies...........................................................................12
9. Critical analysis the uncertainties that may affect the project objectives by creating a risk
register...........................................................................................................................................12
SECTION 2........................................................................................................................................14
CONCLUSION..................................................................................................................................16
REFERENCES...................................................................................................................................17
2

INTRODUCTION
Project management can be defined as planning and organizing the existing resources of the
company in such a way that can help in attain tasks or activity within the limited constraints. It is
not an always ongoing work because it comes under the category of one time project (Bentham,
2012). A project manager responsible for defines the goal and objectives towards the assign work.
Along with this, he is also accountable determining diverse project components that will play an
important role in completing of project. A project manager also creates some quality control
methods that make sure about the attaining of project deliverables (Darren, 2012). The present
report is based on fundamental of project management and to understand its importance, a case
study of ProjectPlus is taking into the consideration. This is a small and influential advisory
company which specialize in project and program management consultancy. It has provided
diversified services to its business clients such as Project Planning, Risk Management, Project
Reporting and Benefits Realisation etc. In the recent time, there are three clients who have
contacted to ProjectPlus for their project management services to launch their products in the UK.
These are Tesla Motors (automotive), GE Healthcare (healthcare) and DropBox (could technology).
These three business clients are planning to introduce different products and services in the UK and
they have expected that ProjectPlus Company help them in their new event.
QUESTIONS
1. Defining the project in terms of outcomes and purpose
From the given case study, it has determined that there are three clients that have approached
to ProjectPlus for launching of their three diversified products in the UK (Morris and Pinto, 2010).
These companies are Tesla Motors, GE Healthcare and DropBox. They are dealing in different
industries: healthcare, automotive and cloud computing technology. The CEO of the company has
given chance to its one of the employees to show his capabilities by organizing an important project
out of three. For this, chose project by consultancy is Tesla model three product of Tesla Motors
(Müller and et.al., 2013).
The purpose of the following project is defining the purpose of the venture behind
establishing the reason of business. The aim of Tesla Motors to launch the new Tesla model three is
to take an important step in the direction of automotive industry by adopting eco-friendly technique.
The following car will combine real world range, performance, safety and spaciousness into a
premium sedan that only Tesla can build. The Tesla model 3 car model is affordable car yet and
achieves 215 miles of range per charge while starting at only 35,000 USD before incentives. Model
3

3 is designed to attain the highest safety ratings in every category (Killen and Hunt, 2010). The outcomes
that will deliver after completing project management consultancy services to the cited company to
launch its product in the UK are as follows:
1. ProjectPlus will launch the new product of Teals in venue of London on Monday 2nd
January 2017 in both afternoon and evening time (Kerzner, 2013).
2. A live event will organize by ProjectPlus to launch a new product in the UK market and
this will attend by at least 500 attendees. The entire program will be lively broadcast on
internet on same day.
3. The following event will give significant exposure to Tesla Company through various
recognised media outlets.
4. Some kinds of entertainment and performance will be held in that event that will suitable
and support the product launch event by ProjectPlus (Morris, 2010).
5. During the event, catering facility will be arranged for the guests after the product
launch.
6. There some area will be book in venue to VIP guests and other business client
representatives (Burke, 2013).
7. An effective coordination activity related event execution logistic requirements will
carry out and that will include registration, crowd control and health & safety.
8. The product launch event will be promoted through different media sources and
potential interested attendees (Patanakul and Shenhar, 2012).
9. The major aim of ProjectPlus will to deliver the project within a total budget of
£150,000 with proper justification of expenditure rationale.
2. Project SMART objectives
Every project plan contains some objectives which help in attaining the major project
deliverables. On the basis of above stated objectives and outcomes of selected project i.e. launch of
Tesla new product, it requires to prepare some SMART objectives so that the proposed deliverables
of the plan can easily attain (Heising, 2012). The reason of setting of SMART objectives is it will
clearly define what the project plan actually delivers after completion of the work. Rather than this,
another reason of following the current approach is to make the monitoring and evaluation process
of project becomes easy (Meredith and Mantel Jr, 2011). This will allow project manager to
compare the actual and expected outcomes and determine the gaps or loopholes. It will also aid in
determine the reasons of incomplete or unattainable goals so that in the near future if the same work
do again than such kind of mistakes would not repeat. Therefore, SMART objectives in the support
4

of Tesla model 3 launch project are as follows:
For the Company
 Increase customer satisfaction level from 20% to 50% by launching of its new Model 3 car
by the end of December 2016 (Schwalbe, 2015).
 Raising the market share of company from 25% to 45% by the end of 2016. To increase the sales of project consultancy services from 12% to 20% by the end of
December 2016.
For client: To increase customer awareness regarding new product by 20% till the end of January 2017.
For project manager
 Decrease the time from 8 minutes to 3 minutes to responses to client queries.
 To minimize the delay in new product launch from 8% to 4% by the end December 2016
(Schwalbe, 2015).
3. Specifying the project scope
From the given case study, it has determined that Tesla wants help of ProjectPlus to plan an
event related new product launch. For this, company has to decided or prepare project scope and it
will include three major things: boundaries, deliverables and requirements. It is the main section of
a project plan because it actually shows chief aim of project. In the context of present project plan, a
project scope statement is as follows (Wysocki, 2011).
Project Scope:
The new product of Tesla will bring a new concept of energy storage for long duration. This
event will explain main information to audiences about new product. It will help in creating
awareness in the people related to performance, safety and spaciousness in Model 3. The following
event will give a new definition of innovation of new affordable car in automotive industry to the
UK market (De Bakker, Boonstra and Wortmann, 2010)
On the other hand, project boundaries are also important element of project scope. It is a
measurable and auditable characteristic of a project which defines which things should be included
or excluded from the plan. This allows project manager states expected deliverables in clear words.
In the context of new product launch event, project boundaries are as follows (De Bakker, Boonstra
and Wortmann, 2010).
Project Includes: By considering SMART objectives of new product launch event, some
included boundaries are as follows:
Qualities and features of new product, goals of project, main plan phases and milestones,
5

roles and responsibilities of different project team members, needs of stakeholder, client satisfaction
level, deliverables of project launch and scope creep (Wu and Low, 2010).
Project Excludes: There will be project exclusions criteria for new product launch event are
as follows:
 This event will not include promote any other products of Tesla Motors or other companies
goods on launching day.
 This project will not involve any other employees of Tesla Motors who wants shift launch
project on some any other day (Wu and Low, 2010).
4. Cost estimation for the project budget
Project budget can be defined as an amount of authorized financial resources this is
planning to use for particular time duration to sponsor a project or a work. This can be
considered as an essential section project planning phase. Form the given case study, it has
found that Tesla has granted £150,000 to ProjectPlus for organize a product launch event in
the London on 2nd January 2017 (Bredillet, Yatim and Ruiz, 2010). Company is planning to
launch its new product into the UK market. In this context, cost estimation for different
activities is as follows:
Particulars Cost in £
Human resources
Consultant 1 (C1) 2200
Consultant 2 (C2) 2200
Consultant 3 (C3) 2200
Consultant 4 (C4) 2200
Consultant 5 (C5) 2200
Consultant 6 (C6) 2200
Booking of Auditorium at The Crystal in London 6600
Giving advertisement in various media information sources 2500
Broadcasting whole event over the internet 40000
Planning and arranging catering facility 4000
Event execution logistic requirements such as registration, crowd control, health
and safety etc. 5000
Promotion of event 2500
Arranging sound and lighting facilities 5000
Transportation of staff 3000
Giving invitation to the VIP guests 800
Some other Miscellaneous expenses 10000
ProjectPlus service fee 29000
Overhead costs 28400
6

Total 150,000
5. Clarifying project scheduling
In project management, project scheduling is a method where it communicate the project
team what and how work activities needed to organized, what types of resources will require to
attain the objectives etc (Portny, 2010). A poor project scheduling creates a barrier in front of the
project manager to complete the allotted work within the given time frame. In the context of the
present new product launch event. The following approach has used so that a particular time frame
for each activity can be easily set and evaluate the progress of plan according to it (Patanakul,
Iewwongcharoen and Milosevic, 2010). Project scheduling for current project work is as follows:
Task Name Duration Start Finish
Tesla Model 3 product launch
project 26 days Mon 11/21/16 Mon 12/26/16
Planning 10 days Mon 11/21/16 Fri 12/2/16
Market analysis 2 days Mon 11/21/16 Tue 11/22/16
Determining client needs 2 days Wed 11/23/16 Thu 11/24/16
Searching for vendors 4 days Fri 11/25/16 Wed 11/30/16
Developing project team 2 days Thu 12/1/16 Fri 12/2/16
Execution 9 days Thu 12/1/16 Tue 12/13/16
Developing a plan related to
product launch 6 days Thu 12/1/16 Thu 12/8/16
Venue booking and ensure the
number of coming guests 2 days Mon 12/5/16 Tue 12/6/16
Selection of vendor 3 days Fri 12/9/16 Tue 12/13/16
Be in touch with the clients to
inform progress of plan 3 days Wed 12/7/16 Fri 12/9/16
Monitoring 6 days Wed 12/14/16 Wed 12/21/16
Establishing and maintaining
contractual relationship with suppliers 2 days Wed 12/14/16 Thu 12/15/16
Reviewing project plan 2 days Fri 12/16/16 Mon 12/19/16
Taking corrective actions 2 days Tue 12/20/16 Wed 12/21/16
Project closure 3 days Thu 12/22/16 Mon 12/26/16
Obtaining feedback from business
client 1 day Thu 12/22/16 Thu 12/22/16
Closing of contracts 1 day Fri 12/23/16 Fri 12/23/16
Project sign off 1 day Mon 12/26/16 Mon 12/26/16
6. Gantt chart, breakdown of all activities, network diagram with critical path and key milestones
Project plan:
Task Name Duration Start Finish Predecessors
7

Tesla Model 3 product
launch project 26 days Mon 11/21/16 Mon 12/26/16
Planning 10 days Mon 11/21/16 Fri 12/2/16
Market analysis 2 days Mon 11/21/16 Tue 11/22/16
Determining client needs 2 days Wed 11/23/16 Thu 11/24/16 3
Searching for vendors 4 days Fri 11/25/16 Wed 11/30/16 4
Developing project team 2 days Thu 12/1/16 Fri 12/2/16 5
Execution 9 days Thu 12/1/16 Tue 12/13/16
Developing a plan related
to product launch 6 days Thu 12/1/16 Thu 12/8/16 5
Venue booking and ensure
the number of coming guests 2 days Mon 12/5/16 Tue 12/6/16 6
Selection of vendor 3 days Fri 12/9/16 Tue 12/13/16 8
Be in touch with the clients
to inform progress of plan 3 days Wed 12/7/16 Fri 12/9/16 9
Monitoring 6 days Wed 12/14/16 Wed 12/21/16
Establishing and
maintaining contractual
relationship with suppliers
2 days Wed 12/14/16 Thu 12/15/16 10,11
Reviewing project plan 2 days Fri 12/16/16 Mon 12/19/16 13
Taking corrective actions 2 days Tue 12/20/16 Wed 12/21/16 14
Project closure 3 days Thu 12/22/16 Mon 12/26/16
Obtaining feedback from
business client 1 day Thu 12/22/16 Thu 12/22/16 15
Closing of contracts 1 day Fri 12/23/16 Fri 12/23/16 17
Project sign off 1 day Mon 12/26/16 Mon 12/26/16 18
Task Name Duration Start Finish Predecessor
s Resource Names
Tesla Model Three launch
Project 26 days Mon
11/21/16
Mon
12/26/16
Planning 10 days Mon
11/21/16 Fri 12/2/16
Market research 2 days Mon
11/21/16
Tue
11/22/16 C1,C2,C3,C4
Determining client needs 2 days Wed
11/23/16
Thu
11/24/16 3 C1,C5
Searching for vendors 4 days Fri 11/25/16 Wed
11/30/16 4 C1,C2,C3,C4
Developing project team 2 days Thu 12/1/16 Fri 12/2/16 5 C1,C2,C3,C4
Execution 9 days Thu 12/1/16 Tue
12/13/16
Developing a plan related
to product launch 6 days Thu 12/1/16 Thu 12/8/16 5 C1,C2,C3,C4
Venue booking and ensure 2 days Mon 12/5/16 Tue 12/6/16 6 C2,C1,C3,C4,C
8

the number of coming guests 6
Selection of vendor 3 days Fri 12/9/16 Tue
12/13/16 8 C1,C2,C3,C4,C
5
Be in touch with the
clients to inform progress of
plan
3 days Wed 12/7/16 Fri 12/9/16 9 C1,C2,C3,C6
Monitoring 6 days Wed
12/14/16
Wed
12/21/16
Establishing and
maintaining contractual
relationship with suppliers
2 days Wed
12/14/16
Thu
12/15/16 10,11 C2
Reviewing project plan 2 days Fri 12/16/16 Mon
12/19/16 13 C1,C3,C5
Taking corrective actions 2 days Tue
12/20/16
Wed
12/21/16 14 C3,C5,C6
Project closure 3 days Thu
12/22/16
Mon
12/26/16
Obtaining feedback from
business client 1 day Thu
12/22/16
Thu
12/22/16 15 C4,C5,C6
Closing of contracts 1 day Fri 12/23/16 Fri 12/23/16 17 C1
Project sign off 1 day Mon
12/26/16
Mon
12/26/16 18 C1,C2,C3,C4
Work Breakdown structure:
9

Key milestones:
Key milestones Expected date of completion
Planning Fri 12/2/16
Execution Tue 12/13/16
Monitoring Wed 12/21/16
Project closure Mon 12/26/16
10

Gantt chart:
Figure 1 Gantt Chart with resource allocation
11

12

Figure 2 Network diagram
13

Figure 3 Gantt Chart with Budget allocation
14

Figure 4 Gantt chart with highlighted milestones
15

7. Critical analysis of the project stakeholders i.e. Project Stakeholder Analysis
In the launching of new product of Tesla, different stakeholders will involve under this
project plan. Their interest and intentions will vary according to their needs and expectations.
In order to analyze the roles and responsibilities as well as participation in launching of Tesla
Model 3 product launch project, Project Stakeholder Analysis with RACI matrix can be
adopted which as follows (Bredillet, 2010).
Task Project
Manager
i.e. C1
C2 C3 C4 C5 C6
Market analysis A, R I I I
Determining client needs A, R R
Searching for vendors A,R C C C
Developing a plan related to product launch I I C A,
R
Venue booking and ensure the number of coming guests A, C R C I C
Selection of vendors A, R C C I
Be in touch with the clients to inform progress of plan I C A R
Establishing and maintaining contractual relationship with
suppliers
I A,
R
Reviewing project plan A, I R C
Taking corrective actions I A R R
Obtaining feedback from business client A R I I
Closing of contracts A, R
Project sign off A,R C C C
8. Assessment of project procurement strategies
Project procurement is a kind of systematic technique in order to find out and acquire
16

essential resources for a project (Portny, 2010). In this context, a company chose external service
providers as vendor to purchase material. It is project manager responsibility to look towards the
resources requirement for a plan work because he very well known about major needs of project
plan. To organize a launch event of Tesla Model 3 product launch project, ProjectPlus will plan to
outsource some activities to external organizations to make event more successful (Heising, 2012).
These works will be such as catering, decoration; lighting and sound, venue booking etc. These
types of all activities will be outsourced by cited organization because it may be possible that it can
deviate the firm original aim. To select the right vendor for all such kind of works, ProjectPlus will
various project procurement strategies (Hwang and Tan, 2012). The most suitable method for this is
Vendor Rating Technique where a company can chose an appropriate vendor for its outsourcing
activities. First stage is plan procurement where an analysis process will take by ProjectPlus to
determine those requirements which needed to outsource (Patanakul, Iewwongcharoen and
Milosevic, 2010). Conduct procurements will be the second stage where company will send
invitation to organize bids for various activities by giving ads in several sources. Third stage is
Administer Procurements where cited firm will try to develop relationship with the vendors in order
to choose best bit that suitable for allocated budget for outsourcing activities (Lee and Yu, 2012).
Final stage is Close Procurements in which ProjectPlus will end contract with the vendors after
completion of launching product project event. Hence, it can be said from the above mentioned
Vendor Rating Technique, the cited organization will able to control procurement process and select
right one vendor for completing the outsource activities (Patanakul, Iewwongcharoen and
Milosevic, 2010).
9. Critical analysis the uncertainties that may affect the project objectives by creating a risk register
Risk assessment is a significant section of project management in order minimizes the
various risks impact over project outcomes and expected deliverables. This saves the project
from happening of any kind of hazards and reduced the expenses of organization after
occurring of risks. In new product launch event of Tesla, the project manager has analyzed
some uncertainties that may affect the project objectives. To analyzed and mitigate them, a
risk register process can be carried out which is as follows (Morris and Pinto, 2010).
Risk Event Cause Effect
Lack of financial
resources
Due to the technological
advancement
Quality of the Tesla Model 3
product launch project launch
can hamper.
Poor assumptions at Not focus over project deliverables, It will affect all phases of
17

planning phase partial commitment of client, not
involving right people in and
unrealistic goals (Bredillet, 2010)
project along with its
deliverables.
Different market forces
such as inflation rate,
fluctuation in GDP etc.
Changes in government legislations,
quick alterations in interest rates etc.
The overall impact on project
will be increase the final cost of
plan which will lead to raise
expenses of company over the
project plan (Kerzner, 2013).
Improper cost estimation Old financial calculation methods,
lack of financial skills in financial
manager, less effective finance
technologies, wrong estimation of
costing of resources etc. (Burke,
2013)
It may be possible that that
actual costing of planned
project exceed from expected
budget which will make overall
negative impact over the plan.
Ineffective change
management system
Sudden changes in key personnel
and their responsibilities, alterations
in scheduling of activities, resistance
of team members to accept new
changes etc.
It will affect overall quality of
project in negative direction
that may be deviate the plan
from original objectives
(Meredith and Mantel Jr, 2011).
Delay in project Improper project planning, scope
creep, leaving the team members at
different stages of plan, delay in
supplies, ineffective scheduling of
planned activities, lack of different
resources etc (Schwalbe, 2015).
The project will not complete
within estimated time
constraints and will increase
final costing of plan (Bredillet,
Yatim and Ruiz, 2010).
Conflicts between
stakeholders
Difference between interest and
power of stakeholders,
undetermined needs of them,
dissimilarity of opinion between
each other etc (Bredillet, Yatim and
Ruiz, 2010)
This will affect project
deliverables and objectives in
negative manner.
Poor quality of plan Improper assessment of requirement
of business client, setting of unclear
It will make plan ineffective
with poor scheduling which
18

objectives and deliverables etc. may create delay in overall
project completion.
Insufficient timing Improper allocation of time frame to
each activity, late starting of plan to
due to any of delay etc (Wysocki,
2011).
Unable to complete whole plan
within the given time duration.
Improper communication Miscommunication between project
manager and team member,
improper technologies use to
communicate the information etc
(Bredillet, Yatim and Ruiz, 2010).
Affect the quality of project
and bring delay final
completion time of the work.
19

Risk Management Register for Tesla model three product launch project of ProjectPlus Organization
Risk Identification Qualitative Risk Assessment Risk Response Plan Contingency Plan Monitoring and Control
#
Risk Category
Risk Event Cause Effect
Threat or
Opportunity
Primary
Objectiv
e
Probabilit
y Impact Risk Matrix
Respons
e
Strategy
Response
Actions Trigger Contingency
Action
Responsibl
e Entity
Interval
or
Mileston
e Check
Status:
Date and
Review
Comment
s
1
External
Lack of
financial
resources
Due to the
technological
advancement
ProjectPlus
Organization
requires large
investment
which
increases the
financial
requirement of
the
organization.
Quality of
the Tesla
model three
product
launch can
hamper
Threat
Quality High Very
High
Probability
V
H
Mitigate
Project
manager
should use
appropriate
sources of
funds such as
bank loans,
retained
earnings, etc.
Along with
this, manager
should also
focus on latest
trends of
technologies.
Identify the
additional
sources of
funds for
finance
ProjectPlus
consultants Daily
H X
M
L
VL
V
L L M H V
H
Impact
2
Design Unrealistic
assumptions
during the
planning
phase
Inappropriate
planning
Different
phases of
the project
can be
negatively
affect or
needs to
invest huge
time in re-
planning of
whole
project
Threat
Scope Medium Mediu
m
Probability V
H
Mitigate
Analyze the
business
requirement in
appropriate
way because it
helps in
making final
assumptions
for the project
plan
Backup plan
for the project
ProjectPlus
consultants Daily
H
M X
L
VL
V
L L M H V
H
Impact
3
External
Inflation or
other market
forces
Technologies
are growing
faster in other
developed
countries
Cost
increment
Threat
Cost Low High
Probability
V
H
Transfer
Project
manager
should apply
the
contingency
plan
Project
manager
should use the
budget
reserve and
improvement
in the cash
flow
management
ProjectPlus
consultants Daily
H X
M
L
VL
V
L L M H V
H
Impact
4
Design
Inaccurate
estimates
Lack of skills
and
knowledge in
team members
Negative
affect the
project
deliverables
and delay in
project
Threat
Scope Medium Mediu
m
Probability
V
H
Mitigate
Appropriate
forecasting for
the different
estimates
such as time,
cost and
budget using
appropriate
tools and
techniques
Alternative
estimates for
the project
ProjectPlus
consultants Daily
H
M X
L
VL
V
L L M H V
H
Impact
5
Project Lack of
change
Last minute
changes in
Increment in
the cost and
Threat Cost High High
Proba V
H Mitigate Through the
appropriate
Change
management
ProjectPlus
consultants
Daily
H X
20

Management
management
system
human
resources and
cost of server
affect the
quality of
project
bility
allocation of
resources and
technologies
and strong
plan
M
L
VL
V
L L M H V
H
Impact
6
Organization
Project delay
Inappropriate
planning and
project
manager
leaves the
project in mid
Delay in
developing
plan for
lunching of
product
Threat
Scope High Very
High
Probability
V
H
Mitigate
Recruitment of
new project
manager on
time and
appropriate
communicatio
n with all team
members for
encouraging
them to fulfill
their roles and
responsibilities
Selection of
skilled and
experienced
project
manager
ProjectPlus
consultants Daily
H X
M
L
VL
V
L L M H V
H
Impact
7
Project Management
Stakeholder
conflict
Disagreement
between
stakeholders
over the
different
issues and
challenges of
project
project
planning and
deliverables
of the project
can
negatively
affect
Threat
Scope Medium Mediu
m
Probability
V
H
Mitigate
Project
manager
should
analyze the
power and
interest of
each
stakeholder for
resolving their
conflicts
stakeholder
analysis using
power/ interst
matrix
ProjectPlus
consultants Daily
H
M X
L
VL
V
L L M H V
H
8
Organization
Poor quality
Inappropriate
assessment of
the business
requirements
Developmen
t of poor
planning of
Tesla model
three
product
launch for
ProjectPlus
organization
Threat
Quality Low High
Probability
V
H
Mitigate
Application of
different tools
for quality
management
such as Lean
Methodology,
Agile and Six
sigma
Reassessmen
t of the
business
requirements
ProjectPlus
consultants Daily
H X
M
L
VL
V
L L M H V
H
Impact
9
Project Management
Lack of timing
this project
uses advance
technologies
which takes
time in
implementatio
n
Project delay
Threat
Time Medium Low
Probability
V
H
Accept
Use of Gantt
chart for
managing time
for each and
every activity
alternative
option for
managing
time
ProjectPlus
consultants Daily
H
M X
L
VL
V
L L M H V
H
Impact
1
0
Design Improper
communicatio
n
Due to Last
minute
changes
project
manager was
unable to
communicate
all information
to all team
members
Comparison
with project
quality and
delay in
project
Threat
Time Medium Mediu
m
Probability
V
H
Accept
Try to manage
all changes in
effective
manner
Advance
planning for
reducing the
last minute
changes
ProjectPlus
consultants Daily
H
M X
L
VL
V
L L M H V
H
Impact
21

SECTION 2
The current project management consultancy report has prepared on a project of Tesla
Company which has launched its new product in the UK market (Bredillet, Yatim and Ruiz, 2010).
During working in the following assignment, I have learned several skills and knowledge along
with various challenges. By starting with difficulties, one of the major challenges that I was face is
unclear difference purpose and outcome of the project. Before beginning of the file, I was felt that
both are the same things and there is no difference between them. But after completing the
following research, I have realized project purpose and outcomes have different from each other
and these have varied as per the type of work plan. In this context, for me, I was unable to how to
write project purpose and results. But with the time of working on the current assignment, I have
learned how to state project purpose and outcomes in well manner so that it becomes easy for the
other persons to understand those (Morris, 2010).
Another issue that I was ever deal is how to define project scope in clear format. That time, I
was unknown that what areas or things should be included or excluded to state project scope. To
make it more clear understand, I have carried out deep analysis so that I can understand how to
enlisted scope of present project in write manner. Further, I have face issue related to developing
SMART objective for company, client and project manager in the following project work. I was less
knowledge of this concept and it was affecting my work efforts to define objectives as per the
outcome and project purpose basis (Patanakul, Iewwongcharoen and Milosevic, 2010). In addition
to this, a little bit knowledge of finance area, I was unable to create an effective and appropriate
budget for project plan. It was developing a barrier for me to estimate approximate costing of
different activities of project plan. Rather than this, another major challenge for me during
attempting the present project was use of MS Project software. The less knowledge of this was
unable to schedule the activities, resources allocation and calculating the critical path of completing
whole plan within the several constraints. Beside this, stakeholder analysis was new term for me
determined the interest of stakeholders related to selected project. Due to this, I was unable to
identify roles and responsibilities of key persons in completing the following project work.
Therefore, the above stated numerous challenges have created hurdles for me to appropriately
complete entire assignment as per the given requirements and attain major project deliverables
(Patanakul, Iewwongcharoen and Milosevic, 2010).
In order to overcome above stated difficulties, I have set some priority works to solve those
issues so that I can gain more knowledge and skills to complete the entire work plan in more
22

effective manner. From this, I have found improvement in my research skills that has assisted me to
search the relevant information about the topic. This thing has made my work easy and simple and
this can be said that I have added one more skill into my strength aspect. Beside this, the following
project work has increased my knowledge area such from this; I have learned how to define project
scope, boundaries, deliverables, outcomes and purpose of plan etc. Hence, the gained information
has widened up knowledge area and assisted me carry out the present project in more effective
manner (Killen and Hunt, 2010).
Apart from this, I have taken experience above working and features of MS Project Software
to create scheduling, resource allocation, time estimation, work breakdown structure for present
project plan (Bredillet, Yatim and Ruiz, 2010). It has assisted me how to assign the human resources
at different activities and how to optimally utilize them to finish entire plan within the limited
resources. Further, I have learned how to develop a budget in Excel sheet for various costs and
expenses. From this, I have able to learn the shortcuts of different formula to calculate the values.
This technique has solved my issues regarding types of procurements that need to deliver the
project, propose viable vendor solicitation and vendor selection criteria. In addition to this, I have
understood the methods related to control over contractually of procurement and its closure process
(Killen and Hunt, 2010). Apart from this, at the time of doing the following assignment, I have
studying different topics of project management such as project scheduling, work breakdown
structure, critical path analysis, application of Gantt Chart etc. These all topics will help me in the
future to impose my knowledge level in the practical way. Along with this, it will assist me to carry
out various projects which will contain the application of project management.
On the other hand, I have gained the knowledge regarding application of Stakeholder
Power/Interest Matrix. This has assisted me to determine the roles and responsibilities of main
stakeholders in the project. From this, it has become easy for me to define interest and power of
these people in various areas of planed work. Along with this, I have explored that a project
contains several kinds of risks that can be affected final deliverables of plan. During the whole
work, I have gained the knowledge that with the application of risk registers, the impact of those
hazards over the project plan and the control action that can minimize the effect of those risks over
the work can be easily done. Therefore, from the above reflection on current project, it can be
concluded that there have various areas of work which I have faced issues. But, from this
assignment, I have able to overcome my weaknesses and challenges by learning several skills and
knowledge that will assist me to lead my career in new direction in upcoming future (Bredillet,
Yatim and Ruiz, 2010).
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CONCLUSION
From the above research, it can be concluded that project management has an essential tool
that help an organization to develop a plan and monitor a planned work in an effective manner. It
has assisted in various activities such as resource allocation, scheduling of activities etc. The present
project has related to launch of new product of Tesla in the UK. For this, company has wanted the
support of ProjectPlus to carry out this event successful. The project scope has very well defined on
the basis of purpose and outcomes of plan. There have some project boundaries set which has made
project scope more clear and feasible. The proposed budget for present work has about to £123,000
and has completed within 26 days. The plan has started on 21st November 2016 and finished on 26th
December 2016. Along with this, some basic assumptions have taken into consideration during
completing the project plan of new product launch. Beside this, RACI matrix has adopted by the
project manager to determine various roles and responsibilities along with key interest of key
stakeholders in the project.
24

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