Project Management Report: Comprehensive Analysis of Project Tasks

This report provides a comprehensive analysis of project management principles, beginning with an overview of key characteristics, the purpose of Project Initiation Documents (PIDs), and the role of scope statements and Work Breakdown Structures (WBS). It delves into the creation of Gantt charts and critical paths for project timelines, along with approaches to budget generation and risk management strategies. The report also explores quality methods to ensure successful project completion. Furthermore, it includes a case study from a project management perspective, focusing on the acquisition of a company, and examines the necessary financial planning, sales analysis, contract considerations, employee satisfaction strategies, and legal regulations involved. The report highlights crucial project manager skills such as leadership and negotiation to ensure project success.

Managing Projects

Table of Contents
TASK 1............................................................................................................................................1
1 (a.) Key characteristics of any project......................................................................................1
1 (b.) Purpose of the Project Initiation Document (PID)............................................................1
2 (a.) Scope Statement for a project............................................................................................1
2 (b.) Role of work breakdown structure....................................................................................1
3. Preparation of Gantt chart and critical path to analyse days required to complete the project
.....................................................................................................................................................2
4. Approaches used to generate budget for specific project........................................................2
5. How project risk can arise. Response towards risk which might arise in project management
.....................................................................................................................................................2
6. Quality methods which can be introduced to ensure project is completed successfully.........3
TASK 2............................................................................................................................................4
Report from project management prospective............................................................................4
REFERENCES..............................................................................................................................10

TASK 1
1 (a.) Key characteristics of any project
There are some characteristic of a project with which is it is clear that for what reason it
is framed and time required to complete it (Artto, Ahola and Vartiainen, 2016). These
characteristics are discussed as under-
 Project is started and framed for consumers as per their requirement and budget.
 Project is for some specified time period, so this is time bound under which project
manager have to complete it.
 Project is for specific purpose, so they have different requirements as well as according to
client's demand (What are the Characteristics of a Project?, 2019).
1 (b.) Purpose of the Project Initiation Document (PID)
Project initiation document is the planned format under which all the information which
is available and related to project are discussed. There is requirement of complete and specific
information which is important for successful completion of project and it is easy for reader to
get know about overview of whole topic. The main purpose of PID is to communicate other
about what has to be done in confident and understandable manner. With the help of this
document, project board can access any question about progress rate and issues which might
arise. This is the paper which is approved and then project will start (Brink, 2017).
2 (a.) Scope Statement for a project
Scope statement works as a tool which is describes what has to achieved, deliverables,
assumptions, requirements, etc. about the project. Hence it is easy to conduct project activities
but at he same time, in case of any changes in near future, then it can be modify. In scope
statement the extent up to which project manager will work are discussed properly. Project
manager does not include aspects which are complicated and for which possibilities of approval
is less. This is the statement which shows what criteria will be covering in this project.
2 (b.) Role of work breakdown structure
Work breakdown structure refers to plan under which information will be covered
through which whole project will be completed within specified time. There is requirement of
complete and specific information, so complex project can also completed within specified time.
Major role of work break down structure in an project is to break down whole project activities
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in different chunks of operations with the help of which it can be completed on time with
achieving targets. With the help of work breakdown structure, project manager will get
achievable and independent tasks with the help of which project will completed in effective
manner. Stakeholders will get to know about hierarchy and targets which has to be achieved
within specified time (Browning and Yassine, 2016).
3. Preparation of Gantt chart and critical path to analyse days required to complete the project
This project will be completed within approximately 35 weeks.
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4. Approaches used to generate budget for specific project
Budget is the amount which is required for completing project with satisfying all the
requirement such as internet connection, magazines, newspaper, etc. for completing targets.
There are two approaches with the help of which budget can be generated for completing
project-
Top- down approach- In this approach, there is discussion about cost for project is
decided by top level managers. This is the way with the help of which it is easy for managers to
understand about budget which is required to complete it. (CREATING A PROJECT BUDGET:
WHAT YOU NEED TO KNOW, 2019).
Bottom- up approach- In this approach cost of conducting project for this budget is to
understand changes which are taking place. When cost is set by lower personnel, then activities
are performed with more effective manner and more accuracy in setting targets can be achieved.
5. How project risk can arise. Response towards risk which might arise in project management
Project is the way under which information about some aspects which assist in
completing it (Matinheikki and et. al., 2016). There is requirement of complete and specific
information through project management plan but at the same time, there are possibilities of risk
which arise in it. Some risk associated with project are as under-
Resource risk- There is requirement of some resources and if they are not available
promptly and of specified quality or in quantity, then this affects completion of project with
achieving aims and objectives.
Technology risk- There is use of internet sources for collecting information and other
techniques with the help of which tasks are completed within specified time. This might arise
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issue in using it and completing tasks on time (Understanding the 4 Types of Risks Involved in
Project Management, 2019).
In order to deal with issues arise in performing projects, there are some tools with the
help of which it can be mitigate such as ProWorkflow and Jira. These are the two technological
ways under which it is easy to perform actions with understanding all the project related aspects.
But apart from this it is responsibility of project board to regular check about progress rate and in
case of any negative outcome, corrective action have to be taken (Morozov, Kalnichenko and
Liubyma, 2017).
6. Quality methods which can be introduced to ensure project is completed successfully
With taking quality measures while conducting project, client will remain satisfy (Project
Quality Management – A Quick Guide, 2019). So there are some methods with which it become
easy and suitable for project manager-
Project evaluation- This is the method with the help of which project is evaluated with
set benchmarks which are set by project manager. With this quality of project activities will be
maintained and team mates will be aware that they will be accountable to supervisor.
Monitoring and controlling- There must be proper monitoring and controlling of
business operations. There is requirement of complete and specific information with the help of
which possibilities of negative outcome from project is negligible.
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TASK 2
Report from project management prospective
In this section, there will discussion about different aspects which has to be considered
and covered while conducting project of merger and acquisition. In this there is requirement to
analyse different prospects which assist in completing project within specified time. There is an
individual who is working in ABC PLC and asked to become project manager for successfully
completion of targets.
There are many activities which has to be considered while acquisition of other
organisation which is dealing in frozen food as retail sector. There is requirement of identifying
what are the benefits which organisation will entering in acquisition procedure (Patanakul,
2015). As there is performance of different activities such as establishment of governance,
making road maps for execution of activities, etc. with the help of which it is easy for making
project and providing proper justifications. It is responsibility of Mr. John that if they are
planning for acquisition of other company DEF PLC. In order to analyse project management
activities which has to be performed with understanding changes in appropriate manner. There
are many activities which has to be considered by Mr. John through which project can be
successfully managed, some activities are discussed as under-
Planning for financial aspects- Finance is the main component which has to be
considered by project manager while they are planning for acquisition project. There is
requirement of huge amount of investment in business with the help of which ABC PLC can
purchase other business. If there is no proper arrangement of funds, then there are possibilities of
failure of acquisition project.
Analysing Sales- there are possibilities that sales of ABC might get affected, so project
manager have to plan through which they can deal with sales of organisation. When ABC will
started dealing in frozen food items, then Mr. John must think of marketing through which
consumer will prefer to avail it (20 Key Due Diligence Activities In A Merger And Acquisition
Transaction, 2019). If there is impact on consumer satisfaction, then this affects overall growth
and development of ABC PLC.
Entering in different Contracts- There is requirement of different contracts such as
lease, intellectual property right, leasing of techniques, settlement arrangements, Franchise,
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power of attorney, license, etc., so Mr. John have to take acre about these contracts because this
assist in proper conducting of acquisition operations.
Making employees satisfaction strategies- There are many employees who are not ready
to work with new terms and policies, hence Mr. John must plan some policies for motivation of
workers. This makes proper and appropriate growth of overall association. If employees are not
ready, then proper communication has to be done with them (Shokri and et. al., 2015).
Insurance of different elements- There is requirement of insurance of machinery,
building, fire insurance, etc. which is proper protection can be provided. There is requirement of
proper contracts and agreement with which protection can be provided and in case of any mis-
happening, undue benefits can be availed.
Policies for considering environmental protection- Environment is one of the major
prospective which has to be considered by Mr. John because if working style is not as per
environmental prospects, then there are possibilities of government interferences. Hence in order
to avoid any legal litigations, project manager have to consider it.
Analysis of government and other legal regulations- There are some governmental
policies which has to be followed such as registration, deposition of contracts, tax, audit reports,
etc. so these legal and governmental prospects have to be considered through which Mr. John
being project manager can manage in proper manner (Sjödin, Frishammar and Eriksson, 2016).
Purchase related planning- ABC PLC is dealing in food retail sector and they have
selected the organisation which is dealing in street frozen food, so Mr. John have to plan about
purchase of material from suppliers. Purchasing must be from sources through which cost can be
maintained.
Marketing strategies- Marketing is the process through which there is proper procedure
for communicating to consumers about different products and services. Mr. John must select
techniques with the help of which consumers gets influenced in positive manner and there will
no negative impact on organisational performance and sales.
With the help of above mentioned strategies, it is clear that Mr. John as ABC PLC is able
to understand about changes which are taking place. There is requirement of complete and
specific information which has to be done according to change in external market (Torrecilla-
Salinas and et. al., 2015). Project manager must be ready to modify their working style with
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change in external market policies. With the help of these activities, acquisition project will be
completed within specified time and budget which is set by project board.
There is requirement of some skills and competencies such as communication,
leadership, critical thinking, project recovery, IT skill, task management, etc. which are required
in project manager through which they can perform actions in better and effective manner. Some
of the skills are as under-
Leadership- This is the competency with the help of which project manager can lead
other individuals which are working in team. With the help of it, it is easy for managers to get
positive outcome and operations are performed in synchronise manner (Vanclay and et. al.,
2015). Mr. John must possess this through which he is able to guide and direct individuals of the
team for acquisition project.
Negotiation skill- This is the competency with the help of which project manager can
negotiate over budget which is set by external party (Five Must Have Core Competencies for
Project Managers, 2019). For instance: budget for hiring individuals is set less by project board,
s Mr. John have to make individuals ready to work at lower rate which is possible with the help
of good negotiation competency.
Risk management- there are many types of risk associated with project such as cost,
resources, etc. so in this case project manager must able to deal with it. For instance: while
conducting acquisition project there is rise in tax rate, then Mr. John can deal with it if he have
risk management competency. This assist Mr. John to avoid to get negative outcome.
Scheduling- Scheduling is the process under which project manager is able to perform
their operations with specified time. There are many activities, so it is important that they must
understood and performed with respective for time. When Mr. John is able to schedule their
activities in proper and appropriate manner (vom Brocke and Lippe, 2015). There is requirement
of complete information about completion of different activities, so it is easy to complete whole
project within specified time
Critical thinking- Critical thinking is important skill for project manager because this is
the way through which Mr. Jones can think in prospect of long term. When project manager will
think in context of long term, then they are able to achieve aims and objectives in effective
manner (15 Top Skills Project Managers Need. 2019).
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Quality management- Quality is the main prospects which is required to get positive
outcome. When proper measures are planned to works as merged organisation, then there is
change in some operations of organisation as well, hence quality have to be considered through
which client's satisfaction can be achieved.
PROJECT MANAGEMENT PROCESSES
In order to complete acquisition project properly, project management process has to be
studied. There is requirement of different aspects with the help of which Mr. John is able to get
knowledge about changes which are effective and relevant (von Danwitz, 2018). When project
management process is performed in proper and relevant manner, then it is easy for managers to
conduct all the activities in appropriate and relevant manner. There are possibilities that external
factors such as financial aspects, availability of individuals might affected, so in this case it is
important to deal with it. So in order to manage project activities in proper manner, project life
cycle stages will be used (Phases of Project Management Life Cycle, 2019). There are four
stages which are covered under it. They are discussed as under-
(Source: Phases of Project Management Life Cycle, 2019)
INITIATION STAGE-
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Illustration 1: Phases of Project Management Life Cycle, 2019

This is the first step in project life cycle because under which there is discussion about
understanding business case and feasibility study. Under this stage, there will discussion about
documents which has to be analysed and related with business acquisition such as license,
contracts, loan documents, employee employment offer letter, etc. Feasibility will be done in
order to understand that business acquisition plan is feasible or not in context of current market
era. This stage has to be properly because this creates base for
In order to conduct this stage of project management, Mr. John requires skills through
which they can critically think about changes which has to be made. Apart from this there is
requirement of proper communication with which they can communicate with other individuals
regarding paper work and feasibility analysing of acquisition (Walker and Lloyd-Walker, 2016).
PLANNING STAGE-
This is the stage in which board will approve project scope statement and it is easy for
manager to succession of project. In this stage, there is planning with respect to finance,
purchasing of material, hiring workers, etc. with the help of which cost and scope of conducting
project will be clear. This is the way which has to be done in appropriate manner through which
execution of project will be done properly.
Skills and competencies which are required for conducting this investigation is planning
and organising competency and time management skills. When proper planning is done, then it
will be carry forward in appropriate manner and targets which are targeted will be achieved
because all the operations are performed within specified time.
EXECUTION STAGE-
This is the stage where project manager performs their work as per settled in planning
stage. This is the stage in which team mates perform their tasks which are allotted to them
through which they are able to under stand for which they are accountable. In case of Mr. John,
he must implemented planned targets, so this step is based on planning stage. The actions which
are implemented by team meets can be seen in this stage, hence there is requirement of guidance
by project manager or project board.
In order to conduct this stage in effective manner, there is requirement of proper
leadership and risk management with quality aspects. When Mr. John lead team properly, then it
is easy for individuals to perform operations in effective manner. Quality is the prime prospect
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