Project Management Report: Analysis of AF PLC's TTF PLC Project

This project management report provides a comprehensive analysis of a case study involving Automation Futures (AF) PLC and its project with TTF PLC. The report delves into various aspects of project management, including project definition, risk assessment through a detailed risk register, planning methodologies such as network diagrams and Gantt charts, and cost management strategies. It examines the iron triangle of project management, exploring the balance between scope, time, and cost. Furthermore, the report includes an analysis of earned value and acceleration techniques, and concludes with a reflective essay summarizing key insights. The report aims to help businesses achieve strategic objectives within defined timeframes and provides insights into overcoming project challenges and barriers.

Fundamental of project
management

Abstract
This article includes a systematic and informative consulting study on project-management
that addresses critical facets of project management and relevant issues. The whole research is
focused on Automation Futures (AF) PLC case study to help businesses reach strategic
objective within such a defined timeframe. This study also contains a retrospective review to
assess the difficulties and barriers the Module faces and the dynamics of creating the complete
assessment.

Contents
Abstract............................................................................................................................................2
INTRODUCTION...........................................................................................................................4
PART A...........................................................................................................................................4
Project definition....................................................................................................................4
(b) Risk Register.....................................................................................................................5
2. Planning and Costs...........................................................................................................10
Managing progress and spending.........................................................................................13
Earned Value Analysis and Acceleration.............................................................................18
PART B..........................................................................................................................................21
Reflective Essay...................................................................................................................21
CONCLUSION..............................................................................................................................21
REEFRENCES..............................................................................................................................22

INTRODUCTION
Project management is a method in which all tasks that are expected to be carried out in the
implementation phase of a project are scheduled, undertaken, performed, and managed.
Automation Futures PLC is starting a new project in this venture. This is a consulting hardware
and product engineering company which is active in TTF PLC's latest effort to build a device
that aims to conserve electricity. The scheme is being launched, requiring specific terms of
service (Agarwal and Kalmár, 2015).
In this project report a management consultant report with analytical analysis for the
management is prepared. Moreover, Project definition and risks, planning and costs, managing
progress and spending and Earned Value Analysis and Acceleration. In addition, reflective report
has been also prepared regarding the project.
PART A
Project definition
Iron triangle project management is indeed a study of the strategic planning requirements. A
project's performance is closely linked to whether a project has the potential to cope with
numerous possible restrictions (Iron Triangle Parameter, 2019). The 'reduction' in the word
three-fold limitation refers to the underlying considerations to be resolved when a project is
designed and implemented. Such three variables are the prominent scale, plan and expense
characteristics. Scope contributes to the overall cost involved in the implementation, cost
corresponds to the value of all services available to carry out the project and timeline reflects the
amount of period expected or scheduled for the implementation of the project. As well as the
term "flexibility" in the phrase "flexibility equation" implies the relation between these three
variables. Time, expense, and efficiency are among the restrictions in the project triangle
throughout the phase of planning new TTF PLC application development project. An action of
balance all these considerations must be carried out to execute the mission as per the designs. Of
example- product quality is a restriction on the expenditure plan, time and functionality needed
in that product.
Cost, schedule and complexity are in the context of achieving the project's TTF PLC
constraints.

Fixed costs: Programs undertaken on a fixed expense on available on a workable schedule.
Throughout this case AF PLC has to carry out prioritized analysis on a customer basis. To take
advantage of the cost of project, the administrators of project should create a budget and a
benchmark front that used a variety of products: historic records of comparable projects set the
value of the company at division level, better forecast the transition. Practiced in tiny sections
that need to be shipped on schedule and monitored on schedule.
Fixed period: if customers want to execute a product within a fixed period, then the task
needs to be carried out in total order of market importance. Set period span is used to transfer
finished research (Chinowsky and Taylor, 2012).
Fixed scope: whenever work has to be done as specified and production period and expense
flexibly established. The research is held in this condition to make better results.
Fixed costs and scope: In this situation, consistency is given to the date of implementation
where fixed costs and specific deliverables are required. Risk rises to reduce unexpected
problems.
Fixed cost and period: Once the project is supposed to have fixed time and cost, then the
specified functions are adjustable in this case (Fabricius, 2013). Price and duration to these
ventures are restrictions.
Fixed period and scope: Where it is appropriate to have a specified collection of
deliverables in limited time and available. Therefore, the money paid on the project is not really
a limitation. A plan is drawn up and consideration is taken to reduce and monitor unexpected
costs in the system.
(b) Risk Register
In general, the risk registry is a database of perceived project risk. In certain words, it is
the recorded reaction to what may or can happen that will preclude a project from achieving its
objective. The risk involved with behaviours and management practices is first defined and then
assessed according to the probability and frequency of event. This is a structured document
created by the entities as a contractual report, which may be used by senior management in order
to attract their awareness to the growing danger of urgent action. There is no single vulnerability
registry design and it therefore varies with organisations, and basic research purposes. The
following risk register in the context of respective company is discussed underneath:
Risk Management Register for XYZ Project

Risk Identification Assessment Response
Monitoring and
Control
Ref
eren
ce
Even
t Cause Effect
Pro
bab
ility
Im
pa
ct
P
x
L
St
ra
te
gy
Trigger Action
Resp
onsib
le
perso
n/s
Revi
ew
Freq
uenc
y
Status
date
and
general
notes
1 Finan
cing
shortf
all
Fund
constrai
nts-
allocati
on in
dispute
or
subject
to
interpre
tation
Postpo
ned
project
4 5 20 S
m
oo
the
n
Sponsor
s of the
initiativ
e refuse
to
guarante
e a
stable
amount
of
financin
g before
the
proposal
is
addresse
d
Carry out
another
fundraising
round and
receive
approval from
core
stakeholder
parties, such as
the Executive
Contributor
Proje
ct
Mana
ger,
Exec
utive
Spon
sor
Mon
thly
23.11.1
6
Revised
List.
Externa
l means
of
financin
g found
2 probl
em of
budge
ting
lackin
g
Unexpe
cted
circums
tances
contrib
uting to
Low
incom
e, or
can
result
in
5 6 30 Be
tte
r
pr
edi
cti
Predicti
on of
project
engineer
was
inexperi
Good review
and variability
scale.
Proje
ct
coord
inator
and
staff
Mon
thly
27/11/1
6

major
casualti
es.
damag
e.
on enced mem
ber.
3 Time
estim
ate
Non
project
compil
ation as
schedul
ed and
anticipa
ted.
Slowd
own in
project
finishi
ng
phase.
6 4 24 An
aly
sis
Incorrec
t
calculati
on is
produce
d by
manager
for
conclusi
on of
the
operatio
n.
Proper testing
of each
operation has
to be carried
out on time.
Proje
ct
Direc
tor
If an
oper
ation
has
been
finis
hed
29/11/1
6
4 Unpr
edicta
ble
incide
nts
Situatio
ns are
taking
place
that are
not
expecte
d
previou
sly.
Projec
t
Divers
ion
5 5 25 Im
pa
ct
re
du
cti
on
Project
director
refuses
to
render
predicti
ons.
To mitigate
adverse impact
taking all the
necessary
measures.
Proje
ct
coord
inator
and
repre
sentat
ives
of the
team.
Whe
n
need
ed
02/12/1
6
5 Vagu
e
requir
Due to
vague
or
Job
efficie
ncy is
4 5 20 Pr
od
uci
Manage
ment
struggle
To every these
situations
require a check
Grou
p
contr
For
grow
ing
02/12/1
6

ement
s
inadequ
ate
project
purpose
hampe
red
ng
ex
cel
len
tly
-
sp
eci
fie
d
pr
oje
ct
s to
develop
consiste
nt
project
require
ments.
at every point. ol of
progr
ams
oper
ation
6 Misc
onduc
t
Loss of
time to
finish a
project
Break
down
of
project
5 4 20 Re
qu
ire
d
car
e
wi
ll
be
est
abl
ish
ed
Those
member
s of the
team
will not
explicitl
y reflect
on their
tasks.
Every
operation
needs to be
carried out as
scheduled and
the goals set.
Proje
ct
team
leade
rs
With
ever
y
task
05/12/1
6
7 Tech
nical
dange
r.
Failure
of the
technol
ogies
Unfulf
illed
or
develo
6 5 30 Te
sti
ng
tec
Project
risk
planner
made
Finishing the
project in
alternate and
feasible
Risk
plann
er
Mon
thly
07/12/1
6

needed. ped
over
time
hn
ol
og
ica
l
fea
sib
ilit
y
inaccura
te
technolo
gical
risk
assessm
ent
manner.
8 Cost
reduc
tion
Incorre
ct
expens
e
estimat
es.
High
expen
diture
and
need
for
additio
nal
money
.
4 4 16 Pr
oje
ct
qu
ali
ty
Planner
should
not
establish
accurate
analyses
Verify the
resources are
sufficient and
mitigate the
budgeting.
Proje
ct
mana
geme
nt
Quar
terly
15/12/1
6
9 Shift
contr
ol
Precise
schedul
e
calculat
ion.
Large
range
of
variant
.
6 5 30 M
an
agi
ng
pr
og
res
s
Manage
ment
departm
ent is
not
operatin
g as
expecte
d owing
to
Ensure
forecasts that
are focused on
schedules.
Grou
p
Lead
ers
Mon
thly
25/12/1
6

erroneo
us
forecast
s.
10 Com
muni
cation
Non-
creatio
n of the
channel
Differ
ences
in real
and
necess
ary
output
5 5 25 Go
od
co
nta
ct
sy
ste
m
Implem
entation
does not
allow
for
direct
interacti
on at
each
task
level.
Take all
necessary
measures to
render the
contact
network
successful.
mana
gers
and
team
leade
rs
At
each
point
of
the
proje
ct.
25/12/1
6
2. Planning and Costs
(a) Network Diagram
A network diagram is a schematic description of all the tasks that AF PLC must carry out
in the course of carrying out the project supported by TTF PLC. Throughout this depiction roles
and project management are shared to various activities. This map is provided with a sequence of
frames where practices are described and listed by means of markers sequence in which such
practices will be carried out (Fleming and Koppelman, 2016). Throughout this network diagram
is calculated the series of phases which decide the required time needed to complete the project.
As all project operations are seen in order of related connections, the project coordinator and
workers assist in the preparation and coordination of a project's network diagram. Through
project implementation, a network diagram is often helpful as an overview of the tasks
operations linked to the requirements.

(b) Gantt Chart
Gantt chart for any project is a way to carry out the activities. In the context of TTF PLC
should indicate the amount of time each operation would take to complete. With that, it can help
to define the beginning date as intended or not to finish the project (Gauthier and Ika, 2012). As
this engineering initiative will be introduced by AF PLC on 8 July 2019, and would be finished
on 6 July 2020. The proposal has a closing deadline of 25 September 2020 which is consequently
the final delivery deadline of this phase. It allows deciding whether the job can be completed by
company within its period and would receive extra early execution benefits as specified in the
job agreement.