Managing Projects Assessment: A Comprehensive Guide

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MANAGING PROJECTS ASSESSMENT
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Contents
TABLE OF FIGURES......................................................................................................................... 3
TASK 1............................................................................................................................................ 4
TASK 2............................................................................................................................................ 9
CASE STUDY............................................................................................................................... 9
REFERENCES.................................................................................................................................21
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TABLE OF FIGURES
FIGURE 1: GANTT CHART...............................................................................................................5
FIGURE 2: COMPETENCIES OF THE MANGER...............................................................................11
FIGURE 3: WORK BREAKDOWN STRUCTURE...............................................................................13
FIGURE 4: PROJECT LIFE CYCLE.................................................................................................... 16
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TASK 1
1)
a) Define the key features of a project.
 TEMPORARY
Every project that is started has a definite end to it, projects are temporary and have start time
where the project initiation is done with developing its concepts and end is achieved when all
the objectives are attained (Kerzner, 2017). The projects are not permanent and get finished if
started.
 UNIQUE
Every project that is initiated is a one-time activity that undertakes activities that have not been
previously attempted. Every project that is started aims at delivering results for only one
particular time (Meredith et al., 2017).
 SINGLE PURPOSE
Every project developed has a specific purpose attached to it which is well definable like the
cost that would be involved or the time-frame for the project or the performance that is
required, etc.
b) The purpose of Project Initiation Document
The purpose of the Project Initiation Document is to gather all the important information that is
required to initiate a project on a logical basis. Also, this information that is collected is
conveyed to all the concerned members of the project (Fleming et al., 2016). A project initiation
documents include all the aspects of the project like the need, objective, deliverables, time
frame and the organization.
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2)
a) The Scope Statement of a project
The scope statement of a project is referred to as a detailed elucidation of a project or the
description about the product, the criteria related to acceptance, presentable aspects,
assumptions, limitations, etc. (Heagney, 2016). This statement helps in carrying out the
activities required to achieve the final objective of the project.
B )Role of work Breakdown Structure in the scope statement
The role of work Breakdown structure in a project is to showcase the absolute scope of the
project that is divided into various manageable presentable aspects (Harrison and Lock, 2017).
Work Breakdown Structure helps the project in scheduling an accurate time for it along with
assisting managers in not missing out the important aspects of the project.
3) Gantt chart
TIME (in
weeks)
Tasks 7 5 3 4 7 9
A
B
C
D
E
F
FIGURE 1: GANTT CHART
(Source: Created by the author)
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NETWORK DIAGRAM
Possible paths:
I. START- A – B – D – F - FINISH = 7+5+4+9=25 Weeks
II. START- A – B – C – E – FINISH = 7+5+3+7=22 Weeks
Critical Path is A – B – D – F with the longest duration of 25 weeks.
4) Approaches to budget generation for particular
 TOP-DOWN APPROACH
Under this, the approach the cost estimates are taken from the already established work which
is similar to the present on (Kerzner, 2018). Also, the financial reports or the old project
schedules or logs are taken into consideration if there is no thumb rule.
 BOTTOM-UP APPROACH
Under this approach, the estimates are created by discussing with the people who are going to
carry out the work. For example, the list of the raw materials and the resources that are
required to carry out the work is prepared by the engineers instead of the mangers (Turner, R.,
2016).
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START A
B
C
D
F
E
FINISH

5) How the risks related to the project can arise? Discuss the different responses to risk
that can be considered under project management.
There can be certain aspects to the risks that may arise in a project like the main objective of
the project is not clearly stated or there is lack of knowledge about the field of the project
(Robinson et al., 2018).To minimize the probability of risk occurrence in a project, a well-
defined risk management plan should be developed by the managers. There are mainly fives
aspects related to risk management in a project along with project management, which is:
Identification of the factors related to risk
Analysis of the risk factors
Assessing the risk factors
Selecting the appropriate alternative method
Monitoring and supervising
6) Introduction of the quality methods (project evaluation, control and monitoring) to
make sure the successful completion of the project
PROJECT EVALUATION
The evaluation includes the systematized assessment of the objectives of the present or past
project (Sequeira and Lopes, 2015). The main aim of the evaluation is to understand the level at
which the project has or will achieve the objective set by the manager.
CONTROL
Controlling includes managing and analysing the data effectively so that the outcomes of the p-
project are effectively understood. Controlling assist in the appropriate making of decisions
along with establishing programs related to project management.
MONITORING
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Monitoring includes keeping a daily check on all the activities that are carried in a project along
with effectively by maintaining a uniform record and reporting the same to the manager which
has an impact on the overall management of the project (Talman, 2018).
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TASK 2
CASE STUDY
EXECUTIVE SUMMARY
The case study emphasizes on the activities that are to be undertaken by the project manager
so as to fulfil the goals of the organization. The project manager at ABC has to undertake
various responsibilities that are required for the acquisition of DEF (Tonchia, 2018). This case
study would involve the analysis of skills and competencies that are important for the project
manager with the managing of the project.
INTRODUCTION
A project is generally developed to achieve a particular set of objectives for the organization.
The conducted research is on the basis of ABC acquiring DEF. The project conducted here would
determine the operations of ABC in future that would prevail in the global scenario of the
operation (Martinelli et al., 2016). The project mainly emphasizes on the aspect of acquisition
that is carried out by ABC by acquiring DEF along with the further benefits the respective
companies would gain after the act.
The research conducted makes optimum utilization of the skills, techniques and equipment that
are important and help in enhancing the quality of the same. For effectively handling the
process of acquisition ABC is focusing on using the internal expertise and techniques (Schwalbe,
2015). For successfully managing the project the time-frame aspect and the budget have also
been taken into consideration. In this study, the various phases of the project life cycle have
also been included along with the leadership and control techniques.
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BODY
PURPOSE OF THE PROJECT
The main purpose of the project is to formulate a plan along with conveying the aspects of the
project to the other members and controlling the activities. The primary purpose of the project
is the identification of the risk factors, organizing and managing the project in a way that the
project is completed successfully and within the stipulated time-frame (Badewi, 2016). A
project is carried out with focusing on attaining the objectivities that have a particular purpose
to it. The main purpose of the project is to effectively manage the acquisition of among ABC
and DEF successfully.
ABC has acquired DEF for the purpose of connecting with the new customers in the United
Kingdom. ABC has opted for this acquisition as they have been successful in the previous times,
which emphasizes that many acquisitions have helped them in achieving their growth
objectives (Lock, 2017). The project manager needs to identify the competencies effectively so
that the project turns out to be a successful one. The other purpose of the project is to
supervise the progress of the acquisition.
SCOPE OF THE PROJECT
This section of the project includes the formulation of the objectives of the project. this section
also aims at focusing upon ascertaining the total cost involved in the project along with the
allocation of time-frame to the project (Gomes and Romão, 2016). It takes into consideration
different factors like the identification of the necessities of the project along with the
requirements of the process and under this acquisition interacting with the right stakeholders is
vital because the process of acquisition would become very difficult if the correct stakeholders
are not identified.
The scope of the project also includes the identification and analysis of the limitations that are
present according to the budget of the acquisition. The scope emphasizes the requirement of
managing the change so that it can circumvent any disagreement between the stakeholders
(Loufrani-Fedida and Missonier, 2015). Every project needs to recognize is scope as it helps in
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the determination of planning the cost of the project. the scope of the project help in
understanding the project requirements along with the objectives of the project.
BENEFITS OF THE PROJECT
The benefits of the project are referred to as the advantage of developing a project. The benefit
that would be gained out of this project of acquisition is obtaining the maximum profit level by
getting connected with the new customer base (Muller and Turner, 2017). The project benefit is
generally understood at the time when is project is in the developing stage. Generally, there is a
disadvantage in the project management at the time of completion of the project but the
benefits remain undisclosed that is why it is important to know the benefits within the time-
frame.
The benefits in the acquisition include the increase in the revenues, cost and productivity.
Further benefits involve the identification and minimizing the risk factors, enhancing the
efficiency so that the output is achieved more; enhance the reputation along with maintaining
sustainability (Hanna et al., 2016).To manage a project effectively it is vital to maintain a flexible
nature, establish assets and an effective process of decision-making, minimizing the operational
difficulties and impacting the experiences of the customer by enhancing the quality of the
products offered. Further the projects benefits are enhancing market share along with
maintaining a suitable culture at the organization.
SCHEDULING OF THE PROJECT
The scheduling of the project works as important equipment that is utilized in conveying the
tasks that are important and needs to be carried to carry out the project. The scheduling of the
project includes the performance of the task in such a way that the project is completed within
the stipulated time (Kliem et al., 2019). Not scheduling the project effectively can lead to
improper management of the project. This happens because without scheduling a project
effectively it would difficult for the manager in planning and organizing the project in an
efficient way.
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Scheduling of the project also includes the preparation of the appropriate cost plan that would
help in making the project more effective. For scheduling effectively, the mangers must use the
software of the project management which would help in the preparation of the work
breakdown structure that would in end assist in identifying the steps used in carrying out the
work (Kerzner, 2017). The scheduling of the project also emphasizes on the results that would
be attained after the project is completed. The scheduling helps in keeping a track of the
activities that would be carried out starting from the first day to the last day.
COMPETENCIES OF THE MANAGER
The manager aims upon involving all the appropriate factors based on which the allocation of
resources would be done and the stages involved in the project is accomplished within the
given time-frame (Heagney, 2016). Further, to attain these the manager is required to take into
consideration various important factors that would assist in monitoring and controlling of the
entire project. As the appointed project manager, John needs to calculate all the resources that
have been allocated for the project and be used in completing the project.
FIGURE 2: COMPETENCIES OF THE MANGER
(Source: Alvarenga et al., 2019)
It’s important for the manager to have the skills that have shown in the above figure. The first is
the planning stage where the manager has to develop the goals that can be achieved from the
overall project, the factors related to communication, the judgemental analysis, the skills of
making decisions and then motivating the employees for the completion of the overall project.
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