Project Report: Analysis of Policies, Finances, and Roles at MLR

This report provides a comprehensive overview of the Max Lionel Realty (MLR) project, focusing on key aspects of business operations and project management. It begins with an introduction that highlights the project's objective: to enhance the quality of services offered by MLR, a real estate company. The report then delves into a review of the company's policies and procedures, including anti-discrimination, privacy, work health and safety, and procurement processes. A significant portion of the report is dedicated to financial record-keeping, presenting a detailed comparison between the estimated budget and actual spending, along with a budget variation report. The analysis reveals a close alignment between the estimated and actual spending, demonstrating effective financial management. The report further outlines new roles and responsibilities assigned within the company, including those of operational managers, agents, tenants, and clients, clarifying their respective duties and communication modes. Additionally, it includes a handover report, documenting the transfer of project responsibilities and assets, and a post-project review report, which assesses the project's performance against its objectives, team processes, and budgetary performance, concluding with recommendations for improvement. The report concludes that project management is crucial for timely project completion, highlighting effective communication and resource implementation and suggesting the use of a proper budgetary system and improved communication to enhance customer satisfaction and company profitability.

Undertake project Work: 3

Table of Contents
INTRODUCTION...........................................................................................................................1
Reviewing the policies and procedure for Max Lionel Realty...................................................1
Complete financial record-keeping for the project.....................................................................1
New roles and responsibilities....................................................................................................4
Hand over report.........................................................................................................................4
Post- Project review report..........................................................................................................5
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Project management in a tool that helps to manage thing in an accurate way. Present
report deals with Max Lionel Realty (MLR) which is real estate company and want to enhances
their quality of services. Report provide all business documentation which includes policies and
procedures and complete financial record keeping that compared the budget spend with actual
and budget variation report. Further report also describe the roles which is assigned to every
individual and also produces a handover report by reviewing the tea processes. Also present the
post review report for all stakeholders.
Reviewing the policies and procedure for Max Lionel Realty
Anti- discrimination policy: The company must follow Anti-discrimination policy
which ensures the transaction with clients, tenants and other employees. Company should follow
equal Opportunity Act, 2010 and Age Discrimination Act, 2004 in order to provide opportunity
to all employees to work within a company.
Privacy Act 1988: MLR must follow the policy related to privacy act under which the
company should maintain the confidentiality of all the documents. Under this act, company will
not share any personal information of their employees to any one without informing the
candidate (Pu, Tian and Pu, 2018). The act also states that confidentiality should be maintain in
order to not share any information whether it may be personal or professional such that If the
information is shared to anyone then the penalty should be given to them.
Work, Health and safety Policy: Under this act, company must ensure that all the
equipments should be prefer by the company in order to protect the life of their employees.
Safety equipments should be allotted to individual in case of requirements. It is the policy which
is followed by the company in order to provide safer environment to their employees.
Procurement process: This is the process which is done in order to achieve the value of
money, therefore it must be conducted in accordance with the principles and company should
follow all the legal policies and regulatory requirement in order to encourage the competition. In
addition to this, they also makes sure that the rules do not operate to limit the competition by
discriminated against some particular suppliers (Mukhopadhyay and et.al., 2018).
Complete financial record-keeping for the project
Comparison between budget spend with actual
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Budget Estimated
Particulars Amount
Income
Fees received from clients 110000
Income from investment 85000
Cost of goods manufactured 60000
Gross profit/Total income 255000
Expenditures
Wages 16000
Consultancy charges 30000
Staff travel expenses 13000
Telephone costs 5000
Premises costs 20000
Office supplies 10000
Professional charges 16000
Total expenditures 110000
Surplus/Net profit 145000
Budget Spend
Particulars Amount
Income
Fees received from clients 115000
Income from investment 83000
Cost of goods manufactured 63000
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Gross profit/Total income 261000
Expenditures
Wages 15000
Consultancy charges 28000
Staff travel expenses 12000
Telephone costs 4000
Premises costs 15000
Office supplies 11000
Professional charges 15500
Total expenditures 100500
Surplus/Net profit 144500
Budget Variation report
Budget Estimated Budget Spend Variance
(+)
Variance (-)
Particulars Amount Amount
Income
Fees received
from clients
110000 115000 500
Income from
investment
85000 83000 2000
Cost of goods
manufactured
60000 63000 3000
Gross
profit/Total
255000 261000 3500 2000
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income
Expenditures
Wages 16000 15000 1000
Consultancy
charges
30000 28000 2000
Staff travel
expenses
13000 12000 1000
Telephone costs 5000 4000 1000
Premises costs 20000 15000 5000
Office supplies 10000 11000 1000
Professional
charges
16000 15500 500
Total
expenditures
110000 100500 1000 10500
Surplus/Net
profit
145000 144500
Interpretation: As per the above budget report it has been estimated that the actual
spending while doing the project is only 144500 but the amount which estimated during the
project is 145000. there is minute difference between the amount i.e. 500. it has been proved that
the actual project spending is near or close to the estimate budget.
New roles and responsibilities
Operational Manager: The company assigned new duty to operational manager such
that they are responsible to assigned duties to all staff and look after all the working activities in
order to achieve the goals of a company (Wu and Kou, 2016). Operational manager also have
the responsibility to look after all the activities and provide all the resources in order to complete
the project.
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Agents: they are those person who are well trained and competent in selling real estate.
They also contribute in daily to lead the project and ensure other to complete the work in better
manner. The communication mode for agents is weekly emails and telephonic conversations. So
that operational manager can monitor the work is done in proper way or not.
Tenants: They are the person who have the responsibility to consult the team and not
discriminated on the basis of family and culture or background. They also contributed by
inspection and the communicate mode is weekly mails for them.
Clients: they are the person who increases the sales and improving the satisfaction level
by making sure that they obligation of MLR and the communication mode is telephonic
conversations (Friedman, Harris and Lindeman, 2017).
Hand over report
It is a simple document which is submitted by a person to another person in order to
transfer the position to another one either in the case of permanently or temporarily. Under this
report, entire documents which needs to be transfer are provided to another person and the
responsibility is also changes as per the report (Jiang, Phillips and Yu, 2015).
Hand over report
Project Name Max Lionel Realty project for further improve the
quality of services provided to the customers
Handed Over by Mr John Bush
Taken Over by Mr. Same Jolly
HAND OVER
Subject Matter Of Handover All the assets, including the financial reports of balance
sheets, professional things
Hand over method Delivered all the documents at official address only.
Note:
A list of serial number as well as licence number forms an annexe to this report. The
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packaging of entire assets is proper way.
Place Max Lionel Realty
Date and time 23/ 11/ 2018 at 14.00 p.m.
SIGNATURE SHEET
Person accepting the subject matter of
handover
Person handling over the subjects matter of
handover
Name: Mr. John Bush Name: Mr Same Jolly
Signature: Signature:
Post- Project review report
It is a report which gives a reviews of and the progress of the project management
activity. The purpose of this in not only provide the exact performance against their objectives
but also focus on the delivery of the benefits to their customers as well as stakeholder.
Post Project review report
Objectives :
To improve the quality of services offered to their customers.
Purpose:
To show the exact performance of the project and to determine that the goals are achieved in
proper time or not. Post project review report is develop a discipline process for evaluating the
project success and to creates some standard, formalized and best practice that can be applied
for the future initiatives.
Scope:
This review report provide best means of key area which needs to be assessed by monitoring
the overall project assessment, quality of deliverable, lessons which needs to be learned and
further opportunities for the improvement.
Budgetary performance:
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As per the budget estimation given and the actual amount spend there is a difference. It shows
that the budgetary performance is not accurate. Therefore it needs to be improved.
Review of team processes:
The team who working in a team are work in an effective manner and as a result the project is
done on its deadline.
Summary:
This report shows that the allotted time for the completion of the project is completed on time
and therefore the objectives are also achieving as per the prescribed time and hence the work is
completed and the quality of services are further improved.
Recommendations:
 as per the budget estimated and the amount which actual spend is not matched because
the amount which actual spend is low as per the estimation. Therefore, it is recommended
that uses of proper budgetary system should be used in order to calculate the actual
amount (Christensen, Robinson and Simons, 2018).
 To raise the quality of services offered by the company to the customers should be up to
mark because it will help to enhances the customers preferences and further help to
maximizes the company's profit.
 The communication need to be improved in order to convey the exact message because a
better communication will further help to provide the best facility to the customers
(Listokin, 2017). A good communication is helpful to complete the project on time
without any hurdles.
CONCLUSION
By summing up above report it has been concluded that project management is quite
important to complete the work on time. As the project is completed on the allotted deadline
because of having an effective communication and implementation of resources. The report also
provide the budget variation between the actual and estimated budget and there is a slight
different between both of them. It also shows various policies and rules which must be comply
by Max Lionel Realty in order to expand its current business.
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REFERENCES
Books and Journals
Christensen, P. H., Robinson, S. J. and Simons, R. A., 2018. The influence of energy
considerations on decision making by institutional real estate owners in the
US. Renewable and Sustainable Energy Reviews. 94. pp.275-284.
Friedman, J. P., Harris, J. C. and Lindeman, J. B., 2017. Dictionary of real estate terms. Simon
and Schuster.
Jiang, L., Phillips, P .C. and Yu, J., 2015. New methodology for constructing real estate price
indices applied to the Singapore residential market. Journal of Banking & Finance. 61.
pp.S121-S131.
Listokin, D., 2017. Landmarks Preservation and the Property Tax: Assessing Landmark
Buildings for Real Taxation Purposes. Routledge.
Mukhopadhyay, S. and et.al., 2018. Surveillance of carbon monoxide-related incidents—
Implications for prevention of related illnesses and injuries, 2005–2014. The American
journal of emergency medicine.
Pu, X., Tian, L. and Pu, A., 2018. Study on the Influencing Factors and Countermeasures of
Supply and Demand Balance in Real Estate Market in Dazhou. Open Journal of Business
and Management. 6(03). p.551.
Wu, W. and Kou, G., 2016. A group consensus model for evaluating real estate investment
alternatives. Financial Innovation. 2(1). p.8.
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