Project Report: Electric Car Production, Risk & Monitoring

This report provides a comprehensive overview of a project designed to produce an electric car, focusing on key project management aspects. It begins with a Project Initiation Document (PID), outlining the project's goals of reducing reliance on gasoline and oil while minimizing air emissions. The report details the project's structure, including the roles of the project manager, mechanic, customers, and labor. It also presents a detailed risk management plan, including potential risks, their likelihood, impact, and mitigation strategies. The report further covers project monitoring and control processes, detailing reporting methods such as project status reports, risk reports, operational reports, resource reports, and deviation reports. The report also includes estimated project costing and a Gantt chart illustrating the project schedule, along with a project schedule that compares planned stages with actual progress. Finally, the report provides references to relevant project management literature and an appendix that contains detailed cost breakdowns and project timelines.

L6 Project Management

Table of Contents
INTRODUCTION.....................................................................................................................................3
MAIN BODY.............................................................................................................................................3
REFERENCES........................................................................................................................................11

INTRODUCTION
Project management involves planning and distributing a group's resources to move a specific
mission, event, or role towards completion (Heagney, 2016). One-off or ongoing activities can
be incorporated, and the funds have taken care of the inclusion of personnel, spending plans,
foundations and innovation under protection. Project management is also related to architecture
and manufacturing fields and, most recently, healthcare and information systems (IT), which
usually include a complex collection of parts that need to be completed and installed to produce a
working product in a set manner. The report is based on a project which is to produce an electric
car that can be used to save fuel and oil.
MAIN BODY
Project initiation: One of the most significant components of project planning, that forms the
basis for an organization project, is a Project Initiation Paper (PID). During the whole process, it
is a starting point, both for the customer and for the project team (Meredith, Shafer and Mantel
Jr, 2017). Furthermore, the Project Initiation Plan is a decision-making document which is the
foundation for the execution of the directive. In a Prince2 managed climate, the Project Initiation
Document packages the knowledge gathered from beginning a project and interventions from a
project phase. The Project Initiation Document is a principle of Prince2; a form of project
management that relies on the requirements of performance and failure within such a project. In
accordance of above project, below detailed analysis of PID has been done in such manner:
Trigger of project: The plan is linked to the introduction of an electric vehicle that will reduce
gasoline and oil reliance (Kerzner, 2017). In addition, this initiative would also aim to reduce air
emissions. In the business sector, there are many kinds of individuals and all of them have
special products and services with different outlooks. Introducing electric vehicles has been
identified as leading to the reduction of atmospheric CO2 emissions. In fundamental terms, the
release of electric vehicles can be shown to have a broad positive effect on the environment.

Establishing management team:
Stakeholder Role or importance
Project manager In the dimension of the above project,
the position of project manager is too
important. As a project manager, a set
of responsibilities and duties are
available to coordinate a venture.
Mechanic The position of such a project leader is
also important since the project above
will only be effective if the mechanic
uses total expertise to prepare the
vehicle.
Customers Such stakeholders are also critical for
the progress of the project described
above. This is how they will order more
vehicles if buyers are happy with
electric cars.
Labor The work force is also critical to the
performance of the aforementioned
project so it would be easier to perform
all project activities if labor is highly
educated.
Risk management: The method of evaluating, minimizing and reducing risks is risk control.
This refers to both investing and business (Young, 2016). In order to reduce or successfully
control risk, businesses and investors often use financial instruments, such as options and futures,
and techniques such as portfolio and fund diversification.

Risk Description
Probability of
Occurrence
Loss Size
(Days)
Risk
Exposure
(Days)
Inadequate QA time to agree for all
programs and OS types.
40% 6 2.4
Lack of obvious sample information can
affect the ability of the external partner to
agree on the final outcome.
40% 18 7.2
Defective staff accessible to partners outside
the end of the cycle.
30% 7 2.1
After the final test of the customer, more
effort on the direction of a messenger may
be necessary.
20% 18 3.6
External agreements need to be strengthened
and renewed (not assessed at this stage).
15% 12 1.8
Not enough time for outside partners to
submit design and part of the reports.
15% 5 0.75
Total Risk
Exposure
17.85
Risk register
Risk
description
Likelihood
of the risk
occurring
Impact
if the
risk
occurs
Severity
Rating
based on
impact &
likelihood.
Owner
Person
who will
manage
the risk.
Mitigating action
Actions to
mitigate the risk
e.g. reduce the
likelihood.
Contingent
action
Action to be
taken if the risk
happens.
Progress on
actions
Project
purpose and
need is not
well-
defined.
Medium High High Project
Sponsor
Complete a
business case if
not previously
provided and the
warranty design
is amply
indicated on the
project sheet and
PID.
Promoted to
Project Board
with risk
assessment of
rampant
spend / non-
stop effort.
Business case
re-written with
clear
deliverables
and submitted
to the project
board for
approval.
Project Low High High Project Highlight the Record the Design

design and
deliverable
definition is
incomplete.
Sponsor degree in detail
through planning
seminars with
input from
subject matter
experts.
assumptions
made and the
risks associated
with them. High
risk application,
poorly marked
items have
been removed
from the
workspace.
workshops
scheduled.
Project
schedule is
not clearly
defined or
understood
Low Medium Medium Project
Manager
Hold design
workshops with
the assurance
group so they
understand the
solution and
reduce the
likelihood of
missed errors.
Offer the
configuration
and get
acquainted with
upcoming
initiatives each
week after the
project
progress
meeting.
Workshops
scheduled.
No control
over staff
priorities
Medium Medium Medium Project
Manager
The Project
Trustee will
inform the group
leaders of the
importance of
the matter.
Provide as
precise a fund for
the book as
possible in time,
and then provide
final booking
dates as soon as
possible after the
design
workshops.
Identify the
backup for each
human resource
undertaken.
Escalate to the
Project Sponsor
and bring in
back up
resource.
Project Sponsor
has agreed to
hold briefing.
Now making
arrangements
for a meeting
room.
Consultant
or
Medium High High Project
Manager
Remember late
penalties for
Escalate to
Project Sponsor
Lead time from
each contractor

contractor
delays
contracts.
To process and
secure the
scheduled
delivery time.
Make a plan in
advance.
Check regularly
with suppliers.
Search "90%
complete". Ask
over and over
again for the
possibility that
they don't need
anything else.
and Contracts
Manager.
Implement late
clauses.
built into the
project
schedule. Late
penalties
agreed to and
contracts
signed.
Monitoring, review and control of cost, progress and quality:
1. Project Monitoring & Control Process
The main phase of the project monitoring process is the evaluation and correlation of the
approximate estimated results with respect to the expected ones.
At any given time, corrective action is needed to keep it in place and for a financial plan.
The sources of information are the business plan and progress reports which contain the
information gathered by the task force.
Where progress is essentially on the move, and this usually means outside a predetermined
protective boundary, it is essential to identify the hidden causes and make a reverse move.
The chart below shows the project monitoring cycle to be followed at a typical moment in the
project timeline.

Three sequences of project checkpoints are used to integrate stakeholder expectations
throughout the life of the lifecycle: key outcomes, outcomes, and quality assessments.
The key achievement is usually the opportunity to move the task from the interpretation stage to
the development stage.
The location and content of retail products are highly dependent on the enterprise and
authoritarian culture.
Interim state assessments are urgent to focus on developing the company’s strengths and
dynamic needs.
There are three types of joint administrative reviews throughout the tour:
1. Important results: These broad framework opportunities occur near the end of each stage of
development. They provide visual issues at the framework level, synchronize management and
design ideas, and demonstrate that the platform points have been met.
2. Details: These stress moments are aimed at accurately determining the content of a circle and
agreeing on the work that has been done.
3. State assessments: This can sometimes give the council an unnecessary and routine
understanding of progress.
Methods of reporting:

Project Status Report: The project status report is useful for reporting progress and important
project activities. It is a tool that maximizes the communication effort between the project team
and key stakeholders. It provides a summary of the work performed on the project. It shows
updated information about the project budget and schedule. This is useful for reporting risk
issues and eliminating risk by mitigating the consequences.
Risk Report: This type of project report helps communicate risk management success for project
management stakeholders. Document the successful management of current and new risks
associated with the project. The risk report should contain a summary of the project's risk profile.
This includes details about the risks that could reduce the size of the project and how managers
want to deal with it.
Operational Report: A report summarizing the organization's business plan for lenders. It helps
to compare the results of multiple decision studies. The executive report is a tool for starting a
conversation with investors. However, operational reports on the project should be prepared in a
way that will impress readers. You should start with a comprehensive description of your project.
Resource Report: A type of project report that allows project teams and stakeholders to get an
idea of how resources are distributed between project tasks. The project resource report shows a
breakdown of the tasks and days assigned to any project group member. The project resource
report is useful for highlighting over-allocation of project resources.
Departure Report: The Deviation Report is useful for comparing the project plan to the actual
project results. It provides a way to measure whether a project is on schedule, ahead of schedule,
or ahead of schedule. In addition, distributed reports collect and organize data about the data
being compared in the project. It can be a budget schedule or volume.
Each of the four stages - beginning, defining, developing, and changing - involves at least one
emphasis and ends with an important outcome when a particular organized ability is created in a
visible structure. Emphasis is on a model of exercises in which a well-defined movement
outcome - a small outcome - is captured by two curiosities: specific delivery (the assessment
rules and the plan) and delivery representation (the results). Key outcomes towards the end of

each phase will use participant-agreed formal assessment rules and delivery representations;
Tiny results use random changes, controlled by a group of these old things.

REFERENCES
Heagney, J., 2016. Fundamentals of project management. Amacom.
Meredith, J.R., Shafer, S.M. and Mantel Jr, S.J., 2017. Project management: a strategic
managerial approach. John Wiley & Sons.
Young, T.L., 2016. Successful project management. Kogan Page Publishers.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.

Appendix
Estimated costing of the project
Cost of the project
Cost per
week
Total
weeks Total cost
Fixed costs £2,000,000
Project team £200,000 32 £6,400,000
TBM and
Equipment £300,000 22 £6,600,000
TBM Crew £100,000 22 £2,200,000
Overall cost £17,200,000
Cost of the project
Cost per
week
Total
weeks Total cost
Fixed costs £2,000,000
Project team £200,000 20 £4,000,000
TBM and
Equipment £300,000 10 £3,000,000
TBM Crew £325,000 10 £3,250,000
Overall cost £12,250,000
Gantt Chart
Weeks
Task Name 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
Air control module
Ground control
module
Flight clearance
module
Terminal control
module
Integration
Testing
Go-live
Task Name Starting
Finishin
g
Air control module May-11 Jul-13
Ground control
module May-11 Jun-01