Project Management Fundamentals: Detailed Project Analysis and Report

This project management assignment delves into the core aspects of project execution, monitoring, and control. The student's work begins with a business case analysis, outlining steps for monitoring and controlling project execution, including creating a project roadmap, putting plans into action, managing deliverables, and implementing change control processes. The assignment then explores project implementation, emphasizing planning, defining roles, conducting meetings, and providing training to ensure project objectives are met through the use of SMART goals, approved KPIs, and continuous improvement strategies. The student also discusses the use of an iterative, agile methodology, explaining its components such as planning, design, check, and adjust phases. The second part of the assignment provides a completion report, including lessons learned about risk management, teamwork, financial aspects, and communication, as well as details on achievements, benefits achieved, and a financial report. The student emphasizes the importance of financial planning and critical analysis of cost management. The project's outcome is presented as favorable to the company's growth, achieving long-term sustainability, and expanding the customer base.

Fundamental of project
management

Table of Contents
Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Project task 1....................................................................................................................................1
Business case...................................................................................................................................1
Describe how you would monitor and control the execution of the project step by step.......1
How would you implement the project and what processes would you follow?...................2
How would you ensure project objectives are met?...............................................................3
What methodology would you use and how would you apply them?....................................4
Project task 2....................................................................................................................................5
Completion report for your project..................................................................................................5
Lessons learned......................................................................................................................5
Achievements/Tasks completed.............................................................................................6
Benefits achieved/Project Outcome.......................................................................................6
Financial report,......................................................................................................................6
Recommendations..................................................................................................................7
Handover................................................................................................................................8
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
The project management is related to the work that is proceeding and lead within a team
in order to meet successful criteria of project. The purpose of project is to analysed different
level such as planning, controlling, monitoring, and initiating and closing so that standardised
objective is achieved in terms of goals as within given constraints (Nicholas and Steyn, 2020). It
is beneficiary for the business as it is used to attain higher responsibility with this daily working
get extended in terms of finance, risk, scope, schedule, resource and quality. The management
required to spend about £52,000 and takes almost about 6 months to complete. The project team
members are business analyst, ITS sponsor, project manager, executive stakeholder and
functional lead and have performed their role to achieve long term success with risk reduction
and profit maximisation.
MAIN BODY
Project task 1
Business case
Describe how you would monitor and control the execution of the project step by step
To monitor and control the execution of project management has worked on to measure
each and every aspect that has direct impact over productivity generation of business. As the
company is looking forward to develop its corporate social responsibility through which
government is decided to make green logistics and sustainable through which ability to reach
larger market is develop all across UK. There are different steps that are required to monitor and
control project that is as explained below as:
Brief overview and roadmap of your project: The Drink healthy shop provide direct
selling and through this stronger customer base is developed that assist to make profitable ending
with this possibility to process sustainability and higher attentiveness is developed in progressive
manner (Ordoñez and et. al., 2019). In order to make innovation towards product market
requirement and its demand get analysed along with competitor analysis. In this working
possibility and tendency to attract attention of more customers is grabbed in direct manner. In
addition feedback also gets collected so that required modification is induced as per requirement.
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Putting plan into action: In order to follow planning requirement of project is analysed,
sources and market database is collected, cost estimation get devised, risk assessment is
measured, success factors identifies in clear manner that all collectively assist to prepare higher
level project planning.
Deliverables: It is basically the tangible output with this need and requirement of market
get tested to meet higher acceptance in adequate manner (Rodríguez-Rivero and et. al., 2020). In
order to ensure about implementation working tendency and its market acceptance get measured
that reflect customer favoured towards offered products and service.
Change control process: In this process management worked to control change as per
requirement and demand of customers through which all the required change are attempted in
possible manner.
Review: In order to review about planning appropriate communication is maintained with
team so that adequate and consistent changes are implemented in effective manner.
Monitoring and Controlling: To monitor and control all the working progress is
measured over regular basis so that risk credibility is minimised by attaining higher profit is
suitable period of time.
Plan for closure and handover: The planning of closure is based on accomplishment of
standardised outcome and target that is perceived through project. In respect to manage handover
suitable report is designed that is provided to management about to maintain record of changes
that is implemented in completion of certain task.
Processes that needs to be followed based on your approach: It is required that project
mapping is followed by all through which one task is completed after the ending of other under
which probability of risk generation is controlled (Kerzner, 2019). In support of this approach
working tendency and required resources are utilised in appropriate manner.
How would you implement the project and what processes would you follow?
To implement the project planning is important as with this adequate initiative is taken to
manage project deliverables as by making optimised utilisation of required resources. The
project management plan is created as by segmenting different activities that is used to measure
progress, delegating task, allocation of resources, effective communication and time tracking. It
gets followed with different stages such as:
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Identification of infrastructure: It contain place and location that is used to process
working in effective mode.
Define roles and responsibility: It is a basis with this management skill and
competencies get controlled by different members with this probability to conduct higher
sustainability is controlled in favoured manner.
Conduction of meeting: It develops clear level of understanding among all the employees
so that sustained outcome is perceived with attentiveness (Hair and Sarstedt, 2021).
Implement training: It is a fundamental basis with this suitable and required training is
provided to the customers so that working tendency is advance in all possible ways.
Monitor solution: In this stage all the working procedure is analysed and monitored
along with this appropriate modification is induced as per implementation of sustained strategies.
How would you ensure project objectives are met?
To ensure about project objectives are its deliverables different measures are taken and
processed that is as explained below as:
Project documents: The development and processing of document related to assurance of
project through which all the possible changes are implemented in modernised way.
Project objectives (SMART): The project objectives must be smart that induce higher level
of clarity about what to achieve and how to. In this standardised objective is developing by
management to advance its sale by 20% within 6 months of time period.
Approved KPIs: The key performance indicator assist the management to process its
working as by achieve standardised goals and objectives so that possibility to perceived higher
competitive advancement is increases in sustained mode (Zwikael and Smyrk, 2019).
Review project goals against performance: It is an essential aspect with this assigned
goals are review as per processing of performance so that ration of risk assessment is induced
with perfection.
Meetings and collaboration: In this all the employees and subordinates are aware about
the pathway that is required to be follow in respect of task achievement. In this all employee get
clarity about the different task that is needed to perform over timely constrained.
Voice of customer (Agile): The company and project is for the customer thus their voice
and demand both get considered as by implementing modification over project processing.
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Continuous improvement: In support of this management worked on to implement all the
favoured and requirement changes over regular period of instance in this customer attractiveness
and market value both get sustained with adequateness.
What methodology would you use and how would you apply them?
In order to apply adequate methodology iterative approach is used that is also known as
agile methods of development which is used to control incremental development (Toljaga-
Nikolić and et. al., 2020). In this overall idea get segmented into different aspects and then a
repeated cycle is implement in sequential form.
The Agile Iterative Model: It is used to design and process adequate working as with
technicality and in support of PDCA cycle that is as explained below as:
Figure 1https://www.javatpoint.com/software-engineering-agile-model
(Source: Agile Model, 2021)
P (Plan) – Iteration Planning: In this adequate planning is developed with this working
tendency and its attribution get controlled. It is used being used to control and measured required
estimation about work done that is used to determine team working in appropriate way.
D (Design) – Iteration Execution: It is a stage that is used to develop software with this
design and coding is developed in adequate manner. It is developed to measure functionality
testing which is conducted in accurate basis so that adequate data and information is collected
and transferred with accuracy.
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C (Check) – Iteration Review: It this stage overall production cycle is review so that task
deliverables is enhanced as per removal of all uncertainties so that productive outcome is
attained in specified manner.
A (Adjust) – Iteration Retrospect: It is used to evaluate overall working process with this
effective outcome is processed as per inducing higher improvements that is favourably collected
from previous iterations (Stamatis, 2019).
This iteration is repeated as per advancement of improvisation and optimisation of learning
so that profitable changes are induced as per effective suitability.
Project task 2
Completion report for your project
Lessons learned
There are different learning learned that is processed in order to dealt in order to manage
and control different challenges and it is as explained as:
Major risks addressed: The major risk is related to changing behaviour and attitude of
customers which always plays essential role during project initiation.
Team work and collaboration: The team work is always be required and through which all
the possible outcome is achieved in systematic manner so that ability to achieve sustained result
in timely constrained is increased.
Financial and budgeting aspects: The budget allocation is always being more accurate as
processing and completion of task is required to be completed within associated budget
(Postelnicu and et. al., 2019).
Quality & Risk: It is measured aspect with this related outcome is perceived with
perfection so that higher profit margin is developed to gain better outcome.
Procurement and Logistics: It reflects the amount of stock and equipments that is required
to complete certain task and for this management assures that kept extra equipment so that task
completion doesn’t interrupt.
Communication: It is a vital concept that is required during transformation of information
and it is essential that everyone knows about each working aspect and concept.
Outstanding issues: It is related to extra cost that is implementing to process certain task
without any interruption.
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Other lessons learnt about assumptions and several project aspects:
Category Lesson learnt Description
Be Clear On The Report's It assist to maintain balance Clarity always provide better way to
initiate about any learning.
Compare Costs and result of all
activities
It aid to process similar project in
future
It is helpful as with this working
possibilities and its ability get
developed through which better
outcome achieve in lesser time
period.
Achievements/Tasks completed
The initiation is processed as per basis of collection of suitable knowledge through which
working efficiency and its effectiveness both get controlled in timely basis. The research and
development task take few more time as it is quite complex to collect basic of fundamental
requirement of customer as it get changed over continuity. In support of key performance
indicator achievement of success and growth is perceived with suitability with this higher range
of outcome is developed in précised manner (Lock, 2020). To mitigate the risk overall credibility
get analysed with this probability to reduce risk amendments is controlled with perfection. The
quality satisfaction and its analysis is gathered as by receiving customer feedback that almost
take 6 month and required a budget of £52,000. It advances the market value and customer base
of business with successful manner and in this planned deliverables is to attain higher profit and
actual deliverables are service and product that is served to customers on direct basis.
Benefits achieved/Project Outcome
The outcome of project is in favoured of company and its growth with this long terms
sustainability and profit is attained over regular period of instance. In addition it is also be
helpful in advancement of customer base and a adequate generated outcome as profit is an
indicator of success.
Financial report,
Planned budget
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Actual costs: £52,000
Justification Critical analysis of cost management: It is used as to segment overall budget
into different segment so that working efficiency doesn’t get affected and it has positive impact
over enhancement of working in favourable manner.
Recommendations
Stage Problems Recommendation
Initiation It create issue to know about market
requirement and need
For this it is required that management performed
accurate research and development while
conducting poll and survey
Planning Time management The manager get divided the task to higher
authority and work get segment as per
channelizing
Execution To achieve outcome in timely manner In this project manager assure that each task
completed within assigned period of time
Monitoring
and Control
To perceived effectual performance at every
stage
For this manager make an eye towards each
activities so that all the resource utilised effectively
Closure To complete the project in limited budget Each task get completed within assigned budget as
without making much wastage
Handover
The administrative process required to process suitable service through which overall
task and project requirement is progressed in collective manner. The project acceptance is related
to the likeliness of customers and enhancement of sales and profit. In order to close the project
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formal actions are taken and it is in respect of making adequate processing with these profitable
and sustained changes is measured. In this healthy drinks also provide warranties and guarantees
so that all the customers received certain balance towards usage of drinks over regularity.
CONCLUSION
It has been concluded from the above report that project management is used by business
to advance its market reach and sale both. In this adequate steps get followed that reduces the
overall working and complexity of project with this favourable outcome is processed within
stipulated period of time. In this business develop adequate case that assist to take favoured
strategies as per requirement.
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REFERENCES
Books and Journals
Hair, J.F. and Sarstedt, M., 2021. Explanation Plus Prediction—The Logical Focus of Project
Management Research. Project Management Journal, p.8756972821999945.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project
management. John Wiley & Sons.
Lock, D., 2020. The essentials of project management. Routledge.
Nicholas, J.M. and Steyn, H., 2020. Project management for engineering, business and
technology. Routledge.
Ordoñez, R.E.C. and et. al., 2019. A study of the critical chain project management method
applied to a multiproject system. Project Management Journal, 50(3), pp.322-334.
Postelnicu, R. and et. al., 2019. E-Learning to Support Online Training in Software Project
Management for Better Work-Life Balance. ELearning & Software for Education, 1.
Rodríguez-Rivero, R. and et. al., 2020. Applying the strategic prospective approach to project
management in a development project in Colombia. International Journal of Project
Management, 38(8), pp.534-547.
Stamatis, D.H., 2019. Six Sigma fundamentals: A complete introduction to the system, methods,
and tools. CRC Press.
Toljaga-Nikolić, D. and et. al., 2020. Project management and sustainability: Playing trick or
treat with the planet. Sustainability, 12(20), p.8619.
Zwikael, O. and Smyrk, J.R., 2019. Project Management: A Benefit Realisation Approach.
Springer.
ONLINE
Agile Model, 2021. [Online] Available through: < https://www.javatpoint.com/software-
engineering-agile-model>.
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