Project Management Report: Case Study of Automation Futures Project

This report offers a comprehensive analysis of project management principles, focusing on a case study of Automation Futures. It delves into critical aspects such as the iron triangle, risk management, scheduling using Gantt charts and network diagrams, and expenditure control. The report also examines earned value analysis and acceleration techniques. The case study explores the application of these concepts in a real-world scenario, highlighting how managers address challenges, analyze risks, and make decisions. Furthermore, the report includes a reflective essay summarizing the experience and challenges encountered during its formulation. The document concludes with an assessment of the project's net profit and the overall effectiveness of the applied project management strategies.

Fundamentals of Project
Management

EXECUTIVE SUMMARY
This report is comprises a deep study on project management which covers all the essential
aspect of project management and help in identified importance of functions of project
management in organization. This report is prepared on the basis of case study of Automation
Futures. On the other part this report included a reflection which describe summary of
experience and problem faces during formulation of this report
Contents

EXECUTIVE SUMMARY.............................................................................................................2
INTRODUCTION...........................................................................................................................4
TASK 1............................................................................................................................................4
1. Parameters and Risk of the company...........................................................................................4
(a) Parameter of Iron Triangle....................................................................................................4
2. scheduling and Expenditure.......................................................................................................10
(a) Network Diagram.................................................................................................................10
(b) Gantt Chart...........................................................................................................................11
(c) Net profit of the contract......................................................................................................13
3. Managing progress and spending:.............................................................................................14
(a.)..............................................................................................................................................14
4. Earned Value Analysis and Acceleration:.................................................................................20
(a.)..............................................................................................................................................20
(b.)..............................................................................................................................................23
(c.)..............................................................................................................................................23
PART B.........................................................................................................................................23
Reflective Essay.........................................................................................................................23
CONCLUSION..............................................................................................................................25
REFRENCES.................................................................................................................................26
INTRODUCTION
Project management is art of managing all the activites, task in order to achieve goal of
business organization. It is a process of implementing recording, analysing, and controlling

activities of particular definite task. In order to understand the concept of project
management Automation Futures has been taken, this company started new project. This
report covers all the function and activites taken during the management of project , how
managers deal with problem and analysis risk uses of project management technique for
decision making approach and reflection of overall experience has been define clearly.
TASK 1
1. Parameters and Risk of the company
(a) Parameter of Iron Triangle
.
Management department of Automation Future will be used iron triangle and project
management triangle model for their project. An organization success is totally depend on
ho effectively the organization will use their scar resource specially financial resource. For
statement new project of technology time, cost of establishing project, quality of the project
and time duration are some essential constraint used in project triangle. It is necessary to use
methods and technique to manage all theses factor in an effectiveness way to achieve goal of
the project. Quality of this project can be maintain by formulating budget for this project..
For completing project of the TTF PLC following are the constrains of this project:
.
When project of the organization has been started on the basis of fixed cost and they are flexible
on deliver basis then it is the responsibility of the manager of done their project activity an tasks
on the recommendation of their consumer in order to fulfill their needs and competent project
according to their time.
Fixed time: When customer of the organization ask regarding the project then it is the
duty of the mange to fulfill the project and task on the time of the completion date or before the
completion of the project, All the activites and task will be performed in a systematic
manner(Ding, 2016).
Fixed Scope: Quality of a project can only be maintain when the fixed cost and set 0f
deliver can be free and they will be able to accept the changes during the project activities..

Fixed cost and scope: During the period when the fixed cost of the project and set delivered
has been expected ten in this situation risk of the project can be
Fixed cost and time: Project manager take decision regarding taking decision of fixed cost in
this phase flexible set of policies useful. For long term project prices and time of completion of
project become constant (Quresh and Kang,2015).
Fixed time and Scope: In this situation when time and cost of the project is free then the
value of the expenditure and cost incurred in project is not consider as constant value. In this
situation the cost which will be unexpected as been reduced and can be control by formatting
effect policies
Illustration 1: Iron Triangle Parameters, 2019
(b) Risk Register
Risk Management Register for XYZ Project
Identification of risk Assessment Response
Monitoring and
Control
Ref Even Reason Effect Pro Ef P Po Trigger Action Resp Revi Date of

eren
ce t bab
ility
fec
t
x
L
lic
y
onsib
le
perso
n/s
ew
Freq
uenc
y
status
and
general
notes
1 Short
age
of
finan
cial
sourc
es
Not a
good
image
in
market
and
financi
al
recessi
on in
econom
y and
also
change
in
budget
polices
Time
Period
is very
short
for
particu
lar
project
4 5 20 Mi
tig
ate
Main
reason
of lack
of
findings
is that
sponsors
of the
project
are
unable
to
collect
funds
and
effective
ly
commun
icate
financial
instituti
on to
provide
them
funds
for the
project.
Manager
should be
conduct
another round
for collection
of funds from
various
source and
use effective
communicati
on technique
to attract their
stockholder
for fund
Proje
ct
Mana
ger,
Exec
utive
Spon
sor
Mon
thly
23.11.1
6
Registe
r
updated
.
Alternat
ive
funding
sources
identifi
ed

2 Work
ing
on
budge
t
proce
ss
Organi
zation
suffers
from
high
losses
due to
unexpe
cted
events.
Not
suffici
ent
profit
genrat
e by
the
busine
ss
organi
sation
5 6 30 Go
od
est
im
ati
on
incompe
tent
estimate
d by the
project
manager
For future
events
manager
should be use
enviromental
scanning tool
for
identifying
and estimate
Proje
ct
mana
ger
and
empl
oyees
.
Mon
thly
27/11/1
6
3 Given
time
Busines
s
organis
atios
are fail
in
perfor
ming
there
tasks in
given
time
period
it will
effects
project
compet
ion
Manag
ers
failed
to
achive
d
target
6 4 24 An
aly
sis
Lack of
experien
ce
manager
s predict
wrong
time
forcastin
g in
each
activity
of
project
Business
organization
need to verify
each task
after their
complition
and check it
with standard
time and
actual time
taken period
and formulate
polices to
reduce
difference.
Proje
ct
Mana
ger
After
com
pleti
on of
an
activ
ity
29/11/1
6
4 Happ Unplan Wasta 5 5 25 Mi Manage Formulate Proje Whe 02/12/1

ening
of
unpla
nned
event
ned
activite
s and
event
arrived
due to
lack of
researc
hing
skills
ge of
time,
workf
orce
get
destru
cted
tig
ate
the
eff
ect
r of the
project
unable
to
predict
future
estimati
on
effective
policies to
overcome
from the
negative
effect.
ct
mana
ger
and
team
mem
bers
n
requi
red
6
5 Lack
of
speci
alizati
on
Busines
s
organiz
ation
have
does
not
properl
y
formula
te plan
thus
they
did not
have
clear
vision
regardi
ng the
project.
Workf
orce
get de
motiva
ted
which
will
effect
on the
quality
of
their
skills
and
project
.
4 5 20 Fo
rm
ula
tin
g
ne
w
pr
oje
ct
fil
es
Manage
r of the
project
fails to
effective
ly plan
and
formulat
e
attractiv
e project
completi
on
strategy.
Analysis and
take revise
for each
activity to
reduce the
future
uncertainties
of these type
of events
Proje
ct
mana
geme
nt
team
With
each
activ
ity
02/12/1
6

6 Ignor
ance
Cannot
focus
on time
duratio
n of
comple
tion of
each
activity
Projec
t
compl
etely
fail
5 4 20 Re
qu
ire
d
co
nsi
de
rat
io
n
ne
ed
s
to
be
pr
ov
ide
d
Team
member
of the
project
of this
business
organiza
tion can
not
provides
and
focus on
completi
on of
task.
Manager
needs to
focus on that
each project
task and
activites
should be
completed on
time.
Team
mem
bers
of the
proje
ct
For
each
activ
ity
05/12/1
6
7 Issue
relate
d to
techn
ology
Due to
lack of
moneta
ry
resourc
e
compan
y
unable
to
purchas
e
Effect
on
quality
of the
project
6 5 30 Ch
ec
ki
ng
tec
hn
ica
l
via
bil
ity
Manage
r of the
compan
y cannot
estimate
regardin
g these
technolo
gies.
Manager of
the
organization
should
formulates
strategies to
compete
project within
the given
time period
and uses of
available
Risk
mana
ger
Mon
thly
07/12/1
6

technic
al
equipm
ent.
resources
8 High
cost
Unrequ
ited
activite
s and
expens
e
incurre
d on
wastag
e
activite
s.
Comp
any
requir
e more
financi
al
funds
to
compl
ete
project
and.
4 4 16 Ac
cu
rac
y
Manage
of the
entity
fails to
control
the
unethica
l
activites
and
expense
incurred
within
the
organiza
tion
Formulate
effective
policy and
work
according to
the estimated
fund.
Proje
ct
Mana
ger
Quar
terly
15/12/1
6
9 Lack
of
mana
gerial
skills
Compa
ny
unable
to
proper
make
plan
related
to
project
High
cost
incurr
ed in
compl
etion
of
project
rate of
profita
6 5 30 M
an
agi
ng
ch
an
ge
Due to
lack of
expertis
e and
manager
ial skills
manager
unable
to
formulat
Tale
suggestion
and guideline
before
starting of
project, hire
skilled
manager.
Mana
geme
nt
team
Mon
thly
25/12/1
6

bility
is low.
e
effective
project
plan..
10 Misu
nderst
andin
gs
Main
reason
of
conflict
is
organiz
ation
not set
up
commu
nicatio
n
channel
It will
effect
in
organi
zation
as due
to
misun
dersta
ndings
conflic
t issue
arise.
5 5 25 Ef
fec
tiv
e
co
m
m
un
ica
tio
n
ch
an
nel
Manage
ment
departm
ent of
the
organiza
tion
unable
to
establish
ed a
strong
channel
of
commun
ication
at each
sage
ofhirerc
hy
Need to
formulated
policies
which will
help in take
decision and
maintain
relation
between all
the human
resource..
Mana
geme
nt
and
team
mem
bers
At
each
stage
of
the
proje
ct
25/12/1
6
2. scheduling and Expenditure
(a) Network Diagram
Network diagram is a technique used in statistical as well as project management approach to
represent all the activites in a graphical format. AF PLC used this method to analysis all the
procedure of activities. This diagram help in allocation of various activites and task during

the project. The above chart has been prepared on the basis of series and boxes in which
various activities has been defined. This technique of project management help in find out
activities and sequence which help in finding way through which organization can achieve
their target within short period of time ( Crisp and Hosken 2016).
(b) Gantt Chart
This chart has been used by the organization to identify time taken by each activity of this
project. TTF PFC has been specified timing of each project taken by the organization. Gant
char method has been appli3ed to determining whether organization has been able to fulfil
their project time on the given time period or not. In this case study AF PLC had been taken
initiative for a project which will b started on 6th July 2019 and date of completion of this