Project Management Report: Analysis of Beachside Cottage Case Study

This project management report presents a comprehensive analysis of the Beachside Cottage case study. It details progress reporting through timelines, highlighting variances and causes for delays across different project phases (initiation, planning, and execution). The report incorporates Earned Value Management (EVM) to assess project performance, including planned value, earned value, actual cost, and key metrics like CV, SV, CPI, and SPI. It also addresses risk management, identifying potential risks (scope creep, budget overruns, supplier delays, resource issues, and quality concerns) and proposing mitigation strategies. Furthermore, the report includes a risk management plan with risk scores and impact categories. The project activities are analyzed with the help of EVM and PV. The analysis covers the project's financial and schedule aspects. The report leverages the project management principles to provide a holistic view of the project's lifecycle.

Running head: PROJECT MANAGEMENT
Case Study: Beachside Cottage
Name of the Student:
Name of the University:

1PROJECT MANAGEMENT
2.7 Progress reporting (Timelines)
Project Name: Beachside Cottage Date: 5/10/19
Past time period
Milestones Approved
plan
Actual
progress
Variances Causes
Initiation phase 12th May 2019 16th May 2019 4 days Delay in the
identification of the
project stakeholders
Planning phase 17th May 2019 20th May 2019 3 days Delay in the
planning of the
project as per
requirements
Execution Phase 21st May 2019 25th May 2019 4 days Change in the
project schedule
and project budget
Current time period
Milestones Plan until
next period
Risks before
next report
Issues before
next report
Changes to be
approved
Purchase of the
suppliers
26th May 2019 Delay in
purchasing of
the raw
Lack of project
planning
Changes in the
project plan

2PROJECT MANAGEMENT
materials
Repaid of the wooden
shutters
28th May 2019 Delay in the
repair work
Lack of
knowledge to
handle
construction work
Changes into the
repair work
Paint of the ceilings 28th May 2019 Delay into the
painting work
Lack of project
resources working
in the project
Changes into the
hiring of the
resources
Paint of the exterior
walls
31st May 2019 Absence of the
painter
Lack of project
resources working
in the project
Changes into the
hiring of the
resources
Future time period
Milestones Plan to
completion
Risks after
next period
Issues after next
report
Painting as well as
cleaning of the walls
before painting
12th May 2019 Painting is not
done properly
Lack of project
resources working
in the project
Washing of the
windows
17th May 2019 Washing is not
done properly
Absence of the
workers
Project closure phase 21st May 2019 Draft of the
project is not
prepared
Final submission
is not done on
time

3PROJECT MANAGEMENT
2.8 Progress reporting (EVM)
Project Activities April May June July August September October November December January February March PV %
Complete
EV
Initiation of the project
plan
$
5,000
$
5,000
$
10,000
100% $
10,000
Analyzing the
requirements to do
repair work of
Beachside cottage
$
2,000
$
3,000
$
5,000
100% $
5,000
Perform a feasibility
analysis base on the
project needs
$
5,000
$
5,000
$
10,000
100% $
10,000
Analyzing the risks
behind managing the
schedule and cost
$
3,000
$
4,000
$
7,000
100% $
7,000
Purchase of the
suppliers
$
5,000
$
5,000
$
10,000
100% $
10,000
Painting work of
ceilings, shutters,
doors and walls
$
7,000
$
7,000
100% $
7,000
Repair of wooden
floor, wooden porch
and wooden shutters
$
7,000
$
8,000
$
15,000
50% $
7,500
Wasing work of
exterior and interior
walls
$
5,000
$
5,000
$
5,000
$
15,000
100% $
15,000
Considering the design
requirements of
Beachside cottage
$
5,000
$
6,000
$
7,000
$
18,000
50% $
9,000
Handover of the
documents and post-
implementation
$
7,600
$
8,000
$
15,600
0% $
-
Managing the $ $ 0%

4PROJECT MANAGEMENT
construction
operations
9,000 9,000
Training to the
workers
$
9,000
$
9,000
0%
Review of the entire
project documents
$
5,000
$
5,000
0% $
-
Monthly Planned
Value (PV)
$
5,000
$
7,000
$
8,000
$
8,000
$
9,000
$
19,000
$
13,000
$
5,000
$
10,000
$
6,000
$
14,600
$
31,000
$
135,600
$
80,500
Cumulative Planned
Value (PV)
$
5,000
$
12,000
$
20,000
$
28,000
$
37,000
$
56,000
$
69,000
$
74,000
$
84,000
$
90,000
$
104,600
$
135,600
Monthly Actual Cost
(AC)
$
3,000
$
4,000
$
5,000
$
4,000
$
7,599
$
4,000
$
7,000
$
8,000
$
9,000
$
-
$
-
$
-
Cumulative Actual
Cost (AC)
$
3,000
$
7,000
$
12,000
$
16,000
$
23,599
$
27,599
$
34,599
$
42,599
$
51,599
$
51,599
$
51,599
$
51,599
Monthly Earned Value
(EV)
$
10,000
$
25,000
$
50,000
$
25,000
$
50,000
$
50,000
$
40,000
$
30,000
$
10,000
$
-
$
-
$
-
Cumulative Earned
Value (EV)
$
10,000
$
35,000
$
85,000
$
110,000
$
160,000
$
210,000
$
250,000
$
280,000
$
290,000
$
290,000
$
290,000
$
290,000
Project EV $
160,000
Project PV $
37,000
Project AC $
23,599
CV=EV-AC $
136,401
SV=EV-PV $
123,000
CPI=EV/AC 678%
SPI=EV/PV 432%
Estimate at
Completion (EAC)
$
20,000
Estimate time to
complete
2.78

5PROJECT MANAGEMENT
2.9 Risk management
The risks which are identified into the project charter are relevant and in this project
report, those risks are identified. In order to rank identified project risks, the method which is
used is qualitative method. It is the process to cover impact as well as probability of the risks into
the numerical form. The numerical form is used for determining the project costs as well as time
contingency of the project plan of beachside cottage. Following table shows the risk management
plan of identified risks and those are scored by the formula: risk score = Probability * Impact
Risk
Description
Impact Category Probability
(1 to 5)
Impact
(1 to 5)
Score
(P*I)
Mitigation
Strategy
1. Unplanned
project
changes
Scope creep Business 4 8 32 Change
requests are to
be approved.
2. Overrun of
the project
cost
Exceed of
the project
budget
Financial 3 5 15 Budget is to
be planned
properly.
3. Delay in
delivering of
the raw
materials
Supplier
delay
Operation 3 4 12 The supplier
should deliver
the products
to client on
scheduled
time.
4. Resource
risk
Recruitment
and
selection
Business 2 2 4 Proper hiring
of project
resources
based on
skills and

6PROJECT MANAGEMENT
knowledge
required.
5. Quality
issue
Project
delay
Quality 3 3 9 Quality
management
plan
6. Design risk Failure of
the
construction
work
Design 2 4 12 A blueprint is
required for
the design of
cottage repair.
7. Schedule
risk
Project
delay
Business 2 3 6 Proper
planning of
the project as
per the
client’s
requirements.
8. Lack of the
management
support
Project
delay
Business 2 2 4 The
management
should
provide
support to the
team
members to
complete the
work.

7PROJECT MANAGEMENT
Bibliography
Kloppenborg, TJ 2015, Contemporary project management, 3 edn, Cengage Learning, Stamford,
CT.
Kloppenborg, TJ, Anantatmula, V & Wells, KN 2018, Contemporary Project Management, 4
edn, Cengage Learning, Boston, MA, USA.