Project Management Report: Acquisition Project Analysis and Skills

This report provides a detailed analysis of project management principles, focusing on a case study of an acquisition project. It covers key characteristics of projects, the purpose of the Project Initiation Document (PID), scope statements, and the role of Work Breakdown Structure (WBS). The report includes a Gantt chart for project scheduling, approaches to budgeting, risk management strategies, and quality methods for successful project completion. Furthermore, it identifies the skills and competencies required by a project manager, such as leadership, communication, and problem-solving, and explores the project life cycle phases. The report examines initiation, planning, execution, monitoring and controlling, and project closure. It also includes a conclusion summarizing the key findings and references for further study. This report offers practical insights into managing projects effectively, making it a valuable resource for students studying project management and leadership.

Managing Project

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
TASK 1............................................................................................................................................1
1. (A) Key characteristics of project............................................................................................1
1. (B) Purpose of Project Initiation Document (PID)..................................................................1
2. (A) Scope statement for a project............................................................................................2
2. (B) Role of Work Breakdown Structure (WBS)......................................................................2
3. Produce full Gantt chart to identify path and evaluate the time which required to complete
the project.....................................................................................................................................2
4. Approaches to generate budget for specific project.................................................................3
5. Project risk and responses which may taken for within project management.........................4
6. Which quality method used to implement to identify that completed project is successful....4
TASK 2............................................................................................................................................5
1. Skills & competencies required by the project manager for the completion of specific
project..........................................................................................................................................5
2. Project life cycle......................................................................................................................6
CONCLUSION .............................................................................................................................13
REFERENCES..............................................................................................................................14

INTRODUCTION
Project management is the process of planning, executing, controlling or implementing
various strategies in order to successfully complete their project (Basu, 2017). main goals is to
meet with the criteria which they set for specific project. Every project have specific goals &
objectives which they have to achieve for desired outcomes. For the better understandings, this
report based on case study of acquisition.
This report includes various topics such as key characteristics of project, purpose of
project initiation document, scope of project and role of work break down structure (WBS).
Along with this, this report include the Gantt chart, develop budget for specific project, identify
risk and how it will be responses under project management. In addition, this report include the
skill & competencies required by the project manager and it consist project life cycle stages,
leadership, administration and problems that associated with the project.
MAIN BODY
TASK 1
1. (A) Key characteristics of project
There are various characteristics in a project which is discussed below:
 Use single purpose for single project
 Project need to be different from another projects (Key characteristics of project, 2019).
 Project should be for specific time period
 Every project required some unique components
 It is a process of working to achieve gaols & objectives
1. (B) Purpose of Project Initiation Document (PID)
Purpose of PID is to record basic information which required at the time of developing
plan for the specific project. Manager need to ensure that project will be sound base andmake
any major commitment for the projector. Aim of this project is to develop project document
which help the project manager to achieve their goals & task (Browning, 2014). It includes list of
individual who participating for the development of project and they involved from starting to
the end of every project. Every person has some certain roles & responsibility which they have to
perform for the success of project.
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2. (A) Scope statement for a project
Scope statement include the various forms which required at the time of developing
project and it is totally depend upon the type of project which going to implement and nature of
organization (Scope Statement, 2019). It is a useful statement which help the organization to take
effective decision which required for further changes. Every project no matter it is small, big,
complex or easy it will include project scope statement which is used by the project manager in
order to determine expected results of any project. This statement should be agreed on
involvement of every individual and it develop initiating any project. Project scope statement
include various aspects such as:
 Justification
 Product scope description
 Acceptance criteria
 Project execution, limitation and assumption.
2. (B) Role of Work Breakdown Structure (WBS)
Scope statement help the project manager to plan project activities and make it more
efficient and it will be characterised as per time limited activities. WBS plays various role which
discussed below:
 Develop measurable and independent task which already mentioned in the scope
statement.
 Assign each activity cost for each task.
 Track regular progress for the evaluation
 Define project scope according the goals & objective of company.
 Assign responsibility to the individual for every task
work break down structure will be develop with the help of scope statement which
include all the information and required at the time of implementation.
3. Produce full Gantt chart to identify path and evaluate the time which required to complete the
project
Gantt Chart is used for the planning and scheduling team project which help in
completing project successfully (Dutta and Bose, 2015).
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Total 117 days
required to complete this project which started from 9th of October and it will finished on date of
2nd February 2019.
4. Approaches to generate budget for specific project
There are various approaches available which required by the project manager in order to
develop project budget and some of them discussed below:
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Analogues Estimation: It is based on other projects estimation where similar activities
cost will be assumed for the current project cost. Because most of the project have same size and
same level of complexity which required only few adjustments in the accounts for difference.
Parametric Estimation: This estimation includes the common activities that similar to
the many projects and average cost per unit is available (Enshassi, Kochendoerfer and Al Ghoul,
2016). For example: construction of a company required some common estimation such as size
of building and the location which helps in predicting cost of the building.
5. Project risk and responses which may taken for within project management
Every risk will be minimised through implementing risk reduction techniques which
discussed below:
 Avoid: Project manager have to focus on eliminating cause.
 Mitigate: There are various types of risk which is not possible to eliminate so manager
try to reduce its impact.
 Transfer: Risk should be transfer to another party such as insurance purchase, warrantee
etc.
 Exploit: Include more activities or change the project to occur further opportunities.
6. Which quality method used to implement to identify that completed project is successful
In the organization, manager have to implement strategies to improve quality and it will
be possible through implanting and controlling each operational functions. Large size
organization invest huge amount for quality management in order to get high quality project.
 Project evaluation: It is the systematic process where project need to achieve ongoing
progress. It include project goals, objectives, effectiveness etc.
 Monitoring: It is the management strategy which is crucial for the successful deployment
and manager use such tools to measure performance.
 Evaluating: It is the method where business take regular feedback and improve their
programs according to the requirement.
Company select the evaluation method to improve their product quality by using various
strategies such as six sigma and lean implementation. Both approaches used to measure quality
of project and ensure that zero defect in the project (Ghaffari, Sheikhahmadi and Safakish,
2014). It is used on continuous basis to remove errors for desired results. Quality management is
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the biggest or important factor which impact the whole project. With the help of project
management process and quality management organization able to evaluate their success.
TASK 2
1. Skills & competencies required by the project manager for the completion of specific project
As per given scenario of the case study, project manager of the ABC company has to
produce a report for acquisition. John has been appointed as a project manager so they need to
accept some responsibility in order to achieve project success. To play the role of project
manager, John required various skills and competencies in order to achieve project goals &
objectives. Some of the skills and competencies listed below for the project manager:
 People skills: It includes those skills which make an individual different from others such
as having any expertise in particular field. It also called professional skills which required
for specific job role.
 Leadership: It is also one of the important skill for the project manager where they
provide proper guidance to their employees regarding project. Leadership helps in
increasing individual performance which further required to achieve business goals &
objectives. At the time of performing each activity, project manager have to provide
guidelines and instruction to complete task because it helps in completing all the
activities in efficient or effective manner.
 Listening: Project manager required listing skills which make them capable to
understand other and took their decision accordingly. If any manager lacks this quality
then most of their decisions are inappropriate because they does not understand any
situation and take decision without any consult with others (Jałocha and et.al., 2014). So
project manager has to build this skill and make them capable to understand others
problems as well.
 Ethical behaviour and consistency: In the organization, manager have to follow each
and every standard and rules which are good for the society. Individual have to follow
best practices and then consistence for the whole period. Project manager need to be
follow ethics because there are high chances of baseness because when people spend
more time someone then they feel attached and start giving favour in various way. So
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John need to develop this skill and try to be fare with everyone and not doing any
unethical practices.
 Conflict resolution: It is totally depend upon the ability of individual that how they
manage to resolve conflicts in the workplace. Through staying calm in this type of
situation and try to analyse the situation through verbal or non verbal communication. So
John need to develop this skill which improve business performance as well as efficiency.
Due to conflict among the employees will reduce project performance because individual
does not want to work in the team which reduce their interest of working as well as
efficiency too.
 Problem solving: Project manager should have problem solving skills which help the
John to improve their work efficiency as well as effectiveness. It include analytical or
creative thinking process which increase through process and provide valuable
suggestions to solve any problems.
Above mention skills fulfil the role of project manager in the company and helps in
competing acquisition project with DEF Ltd. These skills help in completing their task with full
of efficiency and effectiveness (Ramazani and Jergeas, 2015). Project manager required these
skills to resolve administrative problems because it helps at the time of implementing any
project. Along with this, in the project life cycle project manage use these skills in order to
complete each stage with successful outcomes.
2. Project life cycle
In the organization, every project has to face some different phases from project initiation
to the closer of project. Sequence of this project life cycle will be determined by the organization
and other factors such as requirement, project nature, implementation etc. Project management
phase include all the activities from the starting and it will be completed as per the required
guidelines (Project Life Cycle, 2019). Project life cycle used in order to modify operational
activities as per the requirement of business. PLC based on prediction or plan driven approach
where project manager ensures to address all the scope.
According to the given case study ABC Ltd consider to acquire DEF Ltd which is very
well known company who provide street frozen food and it has retail stores across the UK
(Rezvani and et.al., 2016). ABC Ltd provide huge attractive offer to the board of DEF company
and it has been accepted by the shareholders. In context of ABC LTD, John is the project
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manager of this acquisition project where they have to accept various responsibility to achieve
their task and it include planning, implementation & termination of this project. John provide
proper understanding to their senior project manager with the help of evaluating project life cycle
which include four different phases which is discussed below:
Illustration 1: Project Life Cycle, 2019.
Initiation phase: It is the initial phase of every project which aim to define authorize the
project. Under this phase, project manager of the company prepare a charter which include each
activity regarding project and how it will helps in completing successfully (Talebi, 2014). Project
charter is authorize and initial document of project which is necessary to produce and without
this, project manager unable to proceed further. In context of given scenario, project manager
have to manage this acquisition project where they acquire DEC company to expand their
business. Project charter include the scope, objective and people who involved in this project to
make it successfully. Measurable objectives, success criteria, project description in details, terms
& condition and risk which associated wit project. It is the main aspect which manager need to
ensure and show their concern to minimise it. Along with this, charter include the every
individual name who involved in this project and the people who have major authority such as
project sponsors and stakeholders who shows their concern.
Scope: ABC Ltd required various resources to complete this project where they have to
acquire DEF Ltd. Project manager required human resources, investment to complete all the
actions, professionals to handle all the activities and functions.
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Objectives: Main objective of ABC company is to acquire DEF Ltd to expand their
business as well as market share. DEF is a well-known high street frozen food retailer company
which help the ABC to attract more consumers through their effective food range.
People involved: This project required skilled or professional people to develop strategy
and handle all the activities very well. Accountants, few people who can follow the instruction of
project manager and some specialist also who can understand market.
At the time of developing this charter, project manager face various problems where
management skills helps in overcoming this situation (Teller, Kock and Gemünden, 2014).
Project manager have to communicate with each participant and aware them regarding project
goals, vision, mission, risk etc. Such as Strong verbal communication required to communicate
with orders. On the other hand, in order to lead large team manager required this skills. It is the
most important skill for the role of project manager. John need to adopt this skill because they
have to handle team and share information regarding project.
Planning phase: Under this phase, main purpose is to develop strategies that how project
has to be performed and complete which provide successful outcomes. This phase also dividing
under to categories where first is to done strategic planning where project manager have to
identity various approaches, theories and concepts that going to be included in the strategic
planning. Another part is about implementing planning which describe the way how project
manager implement strategy in order achieve desired results. In context of ABC Ltd, project
manager has to analyse the factors which impact the project and then develop strategies
according to it. Project planning include scope, budget, work breakdown structure, Gantt chart,
risk management etc.
Scope:
Project manager evaluate the resources which required to implement this project such as
human resources, capital investment, requirement of infrastructure and accountability to the
stakeholders.
Budget:
Item Amount
Human resources 200000
Stationery 54000
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Travelling 150000
Other expenses 20000
Total 424000
Work breakdown structure:
Gantt chart:
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At the time of performing these activities and implementing strategy project manager
face the various problems and it will resolve with the help of some specific skills (Too and
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