Project Management Principles Report: Leadership, Scope, and Budget

This report delves into the core principles of project management, examining both successful and failed projects to illustrate key concepts. The introduction sets the stage by describing the assignment's themes. Part A identifies a successful project (the Port Mann Bridge) and a project management failure (Target's expansion into Canada), analyzing the reasons for the latter's shortcomings. Part B defines crucial project management elements such as scope, budget, and schedule, and explains the significance of the project management triangle (triple constraint). Finally, Part C differentiates between leadership and management, highlighting their distinct applications within project management contexts. The report concludes with a summary of the key takeaways and a reflection on the learned concepts.

Running head: PRINCIPALS OF PROJECT MANAGEMENT
PRINCIPALS OF PROJECT MANAGEMENT
Name of the Student
Name of the University
Author Note

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PRINCIPALS OF PROJECT MANAGEMENT
Table of Contents
Introduction:..........................................................................................................................................2
Part A:....................................................................................................................................................3
Description of successful project:......................................................................................................3
Description of failed project:.............................................................................................................3
Reason for project failure:.................................................................................................................3
Part B:....................................................................................................................................................5
Project scope:....................................................................................................................................5
Project budget:..................................................................................................................................7
Project schedule:...............................................................................................................................8
Project triple constraints:..................................................................................................................8
Part C:....................................................................................................................................................8
Relation between project management and project leadership:......................................................8
Importance of managing skills:......................................................................................................8
Concept of leadership skills:..........................................................................................................9
Conclusion:..........................................................................................................................................11
References:..........................................................................................................................................13

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Introduction:
In this report, a successful project has been described along with the project that has
failed miserably. Analysing these two projects shows that in the first project that has become
successful there was a great amount of planning and execution involved. however in the
second project, which was not successful, there was a lack of strategic planning and
execution. The report has analysed the importance of project planning and execution of that
plan in accordance with project management principles. In order to explain this particular
concept of project planning and execution two projects has been identified in this report one
is construction of Port Mann Bridge in Vancouver and another is expansion of trend
Corporation in Canadian market. The first project is a successful one while second project is
an example of a file project. Both of this project has been analysed in detailed to identify the
application of Project Management concept of project planning and execution.
This report has analysed concept of project budget and schedule along with theoretical
description of this to concept according to PMbok knowledge guide. Explanation have also
been provided to describe application of these concepts in actual projects for this purpose a
project of online shopping website design has been considered.
Concept of triple constraint in project management has also been described and for
this purpose, a construction project has been considered to apply this theoretical knowledge
into project management execution. The concept of project management and leadership skills
is described as well and the relation between these two is provided. In order to demonstrate
the application of this concept construction project is considered in this report. The overall
Summary has been provided in the conclusion of the report for providing a brief and
comprehensive overview of the entire content for providing clarity on the assignment.

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Part A:
Description of successful project:
The project that is considered in this report is the construction of Port Mann Bridge,
Vancouver, B.C. it is the widest bridge in the world and the second longest bridge in North
America. The bridge was opened in 2012 for the public. It has become one of the largest
construction projects that have been successfully completed in the history of Vancouver and
America. it was such a complex project that there was always a chance for the project to
become less successful. However, successful Project Planning along with strategic project
execution has made this project successful one and shows that no matter how complex a
project is if it is properly planned and executed, there is always scope for ensuring success in
the project execution.
Description of failed project:
In this context, a famous project will be analysed that failed miserably.
The expansion of targets brand in Canadian market is a multi-billion-dollar project that was a
complete disaster from the project management point of view. Target Corporation is the
second largest retailer in the United States and only after the retail giant Walmart specialising
in discount retailing as demand for discount retailing in Canada was so high that target
decided to expand their operations in Canada apart from USA market where there is a
dominant player in this segment.
Reason for project failure:
In order to enter into the Canadian market and set the retail, target Corporation made a
deal with Zellers and acquired 189 leases which help them in establishing 189 brand new
shops across Canada it is threatened the competitors in this process 2 with becoming number
1 trailer in the Canadian market with discount retailing.

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Therefore, it might seems that it is a great strategic move from target Corporation. It
will not only help them to enter into the Canadian market but also outperform the
competitors. Hence, it will help them establishing themselves as the leading brand in Canada.
However, the project was not that successful as estimated. There was already a great demand
in the market for discount retailing and hence the Canadian swear waiting for the arrival of
target Corporation in Canada. The reason why people are so excited about this new brand in
Canada is best value for money forever products. Hence, they will be able to save a huge
amount in the shopping and those financial resources will help increasing their savings. Now
as target Corporation started offerings through their retail stores, it was seen that the price
they decided for their products was not that low that people expect. In fact, in some cases it
was slightly higher than price offered in other retail stores that was already in Canada. so
people didn't want to invest in products offered by target as they are still very new in market
hence they continued purchasing their products from retail stores that were already familiar to
them.
Apart from price, Target Corporation did not consider other issues. In order to ensure
successful performance in retail markets supply chain is extremely important and quality in
supply chain is something the company should not ignore. However, this was not the case
with this project as supply chain acquired by target Corporation various performance related
issues and as a result supply was not efficient. There was mismatch between product supply
and product demand. As a result, people are frustrated with target retail stores. The prices of
products were not that low as estimated and product is not available when needed. Even the
product was not as per quality that should have been and all of these issues made it clear that
the project is not going to be successful. However even with these issues there was no
significant strategic movement and strategic planning made by target Corporation.

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As the supply chain that the retail store acquired was not able to ensure quality in the
product supply. The products that were being sold retail stores had significant quality related
issues. So people started writing negative reviews about the products they purchased. not
only the consumers the media also criticized target Corporation for its product quality issues
and not providing products at lower cost that the company said during their retail store setup
in Canada which affected the brand image of target Corporation even further in Canada.
Therefore, it is justified to say that project of retail stores expansion in Canada and
establishing top position in the Canadian market was not successful.
Part B:
Project scope:
Project scope is the detailed statement that describes project activities in details.
These activities are considered in the project to complete the execution of the project in
relation to project objectives and project goals defined during project planning and project
initiation.
An effective project scope stamen include the following components:
 Justification for the project: Provide reason for the execution of project like possible
benefits for the client
 Description of product: provide a brief yet clear description of the product designed
and delivered in a project.
 Criteria for acceptance: provide valuation metrics for a product delivered in the
project.
 Deliverables and objectives: describes exact project details, which provide a context
for the stakeholders to agree on the project details.

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 Exclusion: this includes items that are not considered in the items which are often
associated with product details but with more clarifications for the stakeholders and
what to expect from the project.
 Constraints: this includes possible issues of the project that might affect the execution
of the project.
 Assumptions: this includes assumption considered in the project necessary for
completing the project.
 Cost estimation: this provides an estimated cost for the project that might be required
to design the required product.
Now, these components will be described in details with regard to an online website
design project.
Component of the scope statement Example with respect to an online
shopping website design project
Justification for project The project once completed will help the
client to enhance its retail business as the
website will make it easier to connect with
consumers through an online platform and
offers services in a much faster and
efficient way
Description of product The project will design an online shopping
website for a retail company
Criteria for acceptance The website should load products
catalogue faster, the interface should be
well defined and easy to use, the website

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should offer superior performance
irrespective of OS and browser and should
be stable while there is traffic load at the
website
Deliverables and objectives the project will deliver an functioning
website along with technical documents
and project summary report
Exclusion The project does not consider issues
related to product sell and profit through
the website. Only functionality and
security of the project is consideration of
this project
Constraints Design of the website has to be completed
with specific web technology along with
approved budget and project schedule
Assumptions Resources and financial support is
available throughout the project execution
Cost estimation Designing and deploying the website will
require $3000
Project budget:
Project budget is an estimation of different cost that is associated with the different
tasks of a project. Depending on a project, there is a different kind of tasks that are needs to

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be completed to finish a project. Now the execution of these tasks requires financial
resources. Estimation of the resources known as a project budget.
Project schedule:
When a project defines activities required for covering the project, there should be a
predefined duration for completing each of these activities so that the overall project is
completed within a set timeline or as demanded by the stakeholders and investors. This
detailed outline of the project duration for each activity is known as the project schedule.
Project triple constraints:
Three important constraints of a project that affects project execution and project
success are time, scope and cost known as a triple constraint of a project. Now, these three
constraints are not independent, in fact, they are closely related. Issues in managing one
constraint effect another and hence proper management of these constraints simultaneously is
important for project success.
For example, if the scope of a project is not clear, it is not possible to define what are the
required features of the project or what are the activities required for completing the project.
This delays project execution time, which means the project, is completed according to the
project schedule, increasing time for project completion, which means an increase in project
cost due to project delay.
Hence, to ensure effective project management it is required to ensure proper management of
all of these three constraints.
Part C:
Relation between project management and project leadership:
Importance of managing skills:
Project management is a complex task to execute as it involves the execution of
various project related activities, first, a project need feasible scope statement objectives

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along with a project schedule that is consistent with project deliverables and stakeholder
requirements. All of these aspects to have to be managed properly in a project. Defining
schedule and execute it properly is responsibility of a project manager. Without
knowledgeable project manager, project is difficult to execute especially when the structure
of the project is complex.
Sometimes project have limited resources, less time to work on it required to deliver product
that fulfils stakeholder requirements the project manager often needs to execute a project with
triple constraints that is time, scope and cost. In order to manage project with this constraints
project manager must have to have good managing skills. Another important constraint that
affects project execution is conflict with stakeholders and investors. Managing conflicts with
stakeholders and investors is important for project success and this is where the Managing
skill of a project manager is evaluated. A project manager without proper managing skill
finds it difficult to ensure smooth project execution. Hence, project manager should have
good managing skills. It might seem that successful project manager is all about having
effective managing skills, however this is not the case. A manager no doubt need to have
good managing skills. In fact, it is one of the essential qualities of a successful project
manager. However, a quality project manager is someone who along with good manager
skills have leadership skills as well.
Concept of leadership skills:
Now it might seem that why a project manager needs to have leadership skills if it is
all about managing various aspects of project successfully in accordance with project scope
and objective. In order to identify that it is important to know that project is not only about
managing stakeholders and investors. It is in fact a team effort that ensures that everything in
the project is in accordance with the plan and deliver a successful product through the project.
Now when team effort is involved in the project it is important to ensure effective team

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management. Now managing a team is not complete with just managing skills that are
important in project management field. Managers have to go beyond traditional project
manager roles and they have to become leaders if they want to ensure that the team is
engaged with the project. Engaging teams with the project requires that everyone in the team
is motivated enough so that they feel that they are actually part of the project, they are not
just hired on contractual basis. If essence of personal engagement does not developed within
team it is not easy to ensure that everyone in the team is providing his or her best effort for
the project. When a team member feels that it is his responsibility to ensure that the project is
successful because the project is as much belongs to him or her as it belongs to the project
authority, the project becomes successful. Motivating team and building confidence in them
is what leader does best.
For example in a construction project, various issues make it difficult to ensure proper
execution. In fact, there might be instances when it feels that the project is impossible to
complete. There might be adverse weather conditions, injuries in the construction site, legal
issues, dispute with stakeholders and numerous other issues, which affects confidence of the
project team. Now the role of the manager is to communicate with stakeholders, hiring expert
teams look after injuries in the construction site and this might involve some other managerial
activities. but the project manager with only managing skill is not able to establish
communication with project team that requires to motivate them so that this means that it is
still possible finishing the project and that is where leadership skills become extremely
important.
It is not that a project manager should have only leadership skills for managerial
skills, both of these are required. This is because one without another is not effective.
sometimes managerial skills required in executing technical aspect of project and sometime
leadership skills required especially in managing human resources which is not so technical.

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this include communication with team members, building team confidence, providing vision
for project execution and taking responsibilities when project is facing various issues along
with technical and financial difficulties. For example in a software development project if a
project manager assure that financial issues in the project will be dissolved while showing
leadership skills but the manager does not know how to actually manage those financial
constraints the leadership does not have any value. It just means that it is just a false
assurance without any proper plan and vision for which managing skills required.
Conclusion:
The project often fails, even more often than they become successful it is not just a
small project that fails, even large projects worth billion dollars also have failed miserably
due to lack of proper planning. now if it is properly analysed it is easy to identify that the
project failed due to inability to meet consumer expectation through product offerings and
successful project execution is about meeting stakeholder expectations including consumers
without which the project is not assumed to be successful. In case of this project, there are
also lack of situational awareness in analysing the market and the consumer demand. Quality
issues in the supply chain was another respect the target Corporation should have improved
as consumers are not willing to pay for something that has quality issues. In addition to that,
there was no proper project management plan including effective risk management plan,
which made it difficult for the organisation to achieve target on the project, and as a result,
the project incurred a loss of 7 billion US dollar making it a complete disaster and an
example of a failed project. It indicates that a project even with huge budget might fail if
there is not proper planning for managing the project. So no matter what is the type of
project, in which field it is being executed, what the budget is allocated for the project, if the
planning of the project is not proper if execution is not in accordance with the plan, the
project is scheduled to be failure. Hence, planning and execution is important aspect of