BSBPMG522: Project Management in Social Media Marketing

This document presents a solution to a social media marketing project, likely for a Diploma in Social Media Marketing. The assignment covers key aspects of project management, including the importance of gathering accurate information for effective planning and decision-making. It addresses topics such as the role of a project manager, the difference between quality assurance and quality control, and the analysis of project timelines and costs. The solution also explains the process of managing project changes and the difference between residual risk and risk contingency. Furthermore, the assignment includes an earned value analysis, calculating planned value, actual cost, and schedule performance index (SPI) for the project. The provided solution offers insights into various project management concepts and their practical application within a social media marketing context.

Diploma of Social Media Marketing
BSBPMG522 Undertake project work
Assessment Task 1

TABLE OF CONTENTS
TASK 1............................................................................................................................................1
1...................................................................................................................................................1
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4...................................................................................................................................................1
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8...................................................................................................................................................2
REFERENCES................................................................................................................................3

TASK 1
1.
Gathering accurate information will help the researcher in reaching to effective solution and
developing plans which will make strong decision for framing the tasks.
Reasons for collecting details for project management
 It strengthens the framework of business
 Decisions will help in reducing the time and costs of project.
 Defines better connectivity among team members with respect to work
 Effective operational plan will simplify the ways of operating activities
 There will be list of all the targeted objectives of project.
2.
A. Project manager
3.
D.
4.
Quality assurance is the activity which have been determined by the before production
begins while Quality control is for controlling quality within the process. Therefore, the benefits
of QA are that one become ensured regarding the quality of the project before its gets started.
Moreover, there will be less chances of any failure for such projected plans.
5.
 Analysing the time and costs utilise for each activity
 Making critical path of important activities which will define less time utilization for
project.
6.
In this aspect the project manager will go for analysing the requested changes, approving
and managing changes in a projected plan. Therefore., such changes will be considered and made
to have effective outcomes to have adequate gains through project.
7.
The key difference between residual risk and risk contingency is that, residuals are the
remaining risks after the completion of project. On the other side, considering the contingency
risks which is based on describing specific actions which will be taken as if a risk incurred.
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8.
Budget for 12 months= $240,000
CPI= 0.9
SPI= 0.95
Actual cost for 7 months
EV= 240000/12*7= 140000
SPI= EV/PV (Planned Value, 2018)
0.95 =140000/PV
PV= 140000/0.95
PV= 147368.42
CPI= EV/AC
0.9= 140000/ AC
AC= 140000/ 0.9
AC= 155555.55
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REFERENCES
Online
Planned Value. 2018. [Online]. Available through :< https://www.projectengineer.net/planned-
value-earned-value-analysis/>.
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