Project Management Assessment 1 - Course Name and Details

This document presents solutions to a project management assessment, addressing five key questions. The first question explores how project managers can foster enthusiasm within a team. The second examines the roles of mentoring and cross-training in mitigating project risks. The third question delves into emotional intelligence, discussing its importance for project managers and the critical nature of its five elements. The fourth question analyzes the benefits and drawbacks of the profile model for project screening. Finally, the assessment concludes with a discussion of Tom Peters' statement on projects as the basis of value creation in business and why project management is essential. The answers are well-structured, supported by references, and cover leadership, risk management, and strategic project importance.

Assessment 1:-Assessment 1:-Running head: PROJECT MANAGEMENT
PROJECT MANAGEMENT
Name of the Student:
Name of the University:
Author’s Note:

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Assessment 1:-
Question 1:-
How can project managers promote a sense of enthusiasm within the project team?
Answer 1:-
Developing the project lead’s enthusiasm is a way for project achievement. Enthusiasm is
vital to generating the spirit and energy that determines the active project efforts. It is the one
compound for pointing high and positive energy toward the project through obligating to its
objectives (Rezvani et al. 2016). The administrator of the project is very much able to uphold an
enthusiastic sense within the entire project team when they generate a supportive and challenging
environment. Passionate project heads are dedicated to their objectives and define this
commitment through real confidence. The head of the project can inspire there team in different
ways. Still, it is through always highlighting the significance of job performance and project
consequences that the entire team are united toward the similar alignment. Almost every projects
the project leaders are very much able to solve any project difficulties. If the project leader is
very much experienced and enthusiastic, then their team performance also perfect (Medina and
Francis 2015). In every project are very much dependable about the project team's bonding
which will be revealed in the project solution quality. If the project head is very much
enthusiastic, then there project success rate is also very high. The project manager must develop
enthusiasm at the initial phase. Proper leadership styles are applicable for any project, and
excellent leadership quality can promote any project team correctly (Pinto, Dawood and Pinto
2014). Suppose any project is failing or not provide up to the mark solution so the project team
should not be demotivating. In this time, the project leader can use his enthusiastic quality and

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the entire motivated team. The excellent project lead can establish suitable mental strength for
managing any situation. These qualities can easily promote their team for achieving good work.
Question 2:-
How do mentoring and cross-training mitigate risk?
Answer 2:-
Cross-training and mentoring are two methods to risk minimization that train entire
project team. This mentoring strategy is applicable for new project head with a senior
administrator to assist them for gathering sound setup learning practices. This method mitigates
difficulties by help the inexperience members into new responsibilities with an older fellow that
can explain questions and simplify problems (Nkomo and Thwala 2016). Cross-training needs
that associates of the team study not only their individual responsibilities but also the parts that
other project team associates are anticipated to achieve. It is also stated more instant
requirements; if a project member is pulled away for a few time, the cross-trained member can
fulfil their essentiality. The preliminary profits of cross-training workers are to decrease risk.
Several project teams trust on a particular person’s experience for specific tasks. Maybe the
specific people are the project manager or administrator. With the help of cross-training, the
project team can develop its internal performance and communication (Charron et al. 2014). The
cross-training team can make any business more useful and support their business employees to
become more productive and effective. Cross-training and mentoring are quickly mitigate all
type of risks. The cross-training avoids any project risk by eliminating the odds that only one
individual at the organization has the abilities to finish a task. Cross-training and monitoring can
also contain training for several skill sets in the occasion that a vital employee leaves, or just as a
way to make a lower-level worker move up in the business association. The cross-training

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platform must be applied suitably to produce effective outcomes. Cross-training not only
supports the business organization fill work positions on a stop-gap basis, but it also denotes an
excellent way to develop an organization’s leadership quality.
If the project administrator is regulated their team and update work progress daily, then it
should be helpful for the project. The updating process can quickly identify the project risks, and
the risk identifier can mitigate this timely.
Question 3:-
Discuss the concept of emotional intelligence as it relates to the duties of project managers. Why
are the five elements of emotional intelligence so critical to successful project management?
Answer 3:-
The emotional intelligence is when the project team are capable of establishing emotions,
understanding with others, and creating judgments using multi-level consciousness. There are
several explanations of why project heads need to have EI (Muller and Turner 2017). They want
to cooperate and connect with several different shareholders and need to construct active teams
who need a front-runner they can rely upon order to supply acceptable consequences. With the
help of EI, the project team can change by monitoring their understanding and increasing a
progressive attitude. When the project administrator is analysing their opinions, then they make a
result to reject or accept every thought.
The five elements are EI is motivation, self-awareness, empathy, self-regulation and
social skills (Maqbool et al. 2017). All of the five features are essential to creating successful
project management. Self-motivation is vital to reach the project objective, and it will inspire
others to survey their leadership quality. The project leaders are very motivated, which defines
that they would not let obstructions discourage them.

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Interpersonal skills are vital for effective communication. Persons with better societal
abilities will be capable of understanding and interconnecting with others better. It is also a
supportive ability for manipulating others to reach preferred outcomes, not through management,
because of trust and mutual respect.
Self-awareness is also helpful for knowing the strengths and weakness of any project
team. If the project manager understands their approaches and their effect on others, it will
support them to make right decisions (Jiang 2014). Another component of EI is empathy and
these state that it is the ability to identify and recognize other people’s approaches. When project
head can understand to another person’s feelings, they can better respond to them and adjust their
sentiments to accommodate them more.
Question 4:-
What are the benefits and drawbacks of the profile model for project screening?
Answer 4:-
Profile models permit the project managers to design risk options for several
replacements and then choose the project that exploits return while continuing within a limited
range of minimum satisfactory risk. The profile model proposes another method of assessing,
broadcasting, and linking projects. One benefit of the profile model is that it suggests another

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substitute to relate project alternatives, this time in terms of the risk trade-off (Pyzer-Knapp et al.
2015). It is occasionally problematic to estimate and compare projects according to the other
qualitative approaches or scoring model. The simple profile model has particular beneficial
advantages as a project selection device. It is easy to use it to connection critical tactical
objectives for the organization to several project replacements. The profile model is easy to
understand and use. With a specification of basic standards, evaluation decisions and related
profiles can quickly grasp employment techniques. The Profile model is useful because it clearly
summaries the connection between return and risk of project replacements. It also inaugurates a
threshold for removing or succeeding projects. On the other hand, it may not be as active for
selecting alternatives because it limits perceptive standards to the risk and returns only.
Furthermore, it can be problematic to quantify risk accurately.
The profile model demonstrated here is a shortened and new version of the weighted-
profiling method. Generally, it is trying to execute some arrangement on the decision-making
procedure and merging multiple standards (Spyrou et al. 2017). Another disadvantage of profile
models is the information that they depend on the significance of the particular rules and the
precision of the weight given to them. They do not confirm that there is a sensible link between
the weighted and selected criteria and the commercial aims that encouraged the project in the
first place.
Question 5:-
“Project rather than repetitive task are now the basis for most value added in business...” Tom
Peters. Critically discuss this statement and explain why we need to learn project management.
Answer 5:-

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A project is an activity which carried out and scheduled in such a way that they realize
the project aim, which is to generate an exclusive product, outcome and services. According to
Tom Peters, the project is designing in several perspectives, and these projects are delivered
different viewpoints. Tom also says that a project is exclusive speculation with an opening and
an end, directed by persons to meet recognized goals within strictures of schedule cost and
quality.
Project management is vital because it confirms what is distributing, is right, and will
distribute authentic value against the commercial opportunity. Excellent project management
assures that the goals of the project, which is firmly supported with the tactical business
objectives. Proper leadership are also available in project management (Kerzner 2018). Without
project management, a project team can be like a vessel without a rudder. It permits and enables
a project team to do their preeminent work. Project management delivers vision and leadership,
motivation, coaching removing roadblocks, and motivating the team to do their most significant
work.
Project management is essential because it confirms proper prospects are setting around
what can be carried, by how much and when. The appropriate budget evaluation is not possible
without project management (Crawford 2014). Effective project executives should be capable of
exchanging sensible and practicable targets and milestones across shareholders, groups, and
administration. The determination placed on distribution negotiates the essential steps, and
finally, the feature of the project’s consequence.
Project management is essential because it confirms risks are appropriately mitigating
and manage against to avoid problems. Excellent project management practice necessitates
project managers to analyse all possible hazards to the project sensibly, calculate them, progress

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a mitigation strategy against them, and a reasonable plan should any of them arrive. Indeed, risks
should be arranged to the probability of them happening, and suitable responses are assigned
each risk. Proper project management materials in this respect, because of projects never go-to
strategy, and how the team agreement with variation and adjust their approach is a key to
distributing projects effectively.

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References:-
Charron, R., Wiggin, H., Voehl, F. and Harrington, H.J., 2014. The lean management systems
handbook. Productivity Press.
Crawford, J.K., 2014. Project management maturity model. Auerbach Publications.
Jiang, J., 2014. The study of the relationship between leadership style and project success.
American Journal of Trade and Policy, 1(1), pp.51-55.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John Wiley
& Sons.
Maqbool, R., Sudong, Y., Manzoor, N. and Rashid, Y., 2017. The impact of emotional
intelligence, project managers’ competencies, and transformational leadership on project
success: An empirical perspective. Project Management Journal, 48(3), pp.58-75.
Medina, A. and Francis, A.J., 2015. What are the characteristics that software development
project team members associate with a good project manager?. Project Management Journal,
46(5), pp.81-93.
Muller, R. and Turner, J.R., 2017. Project-oriented leadership. Routledge.
Nkomo, M.W. and Thwala, W.D., 2016. Mentoring on Retention of Employees in the
Construction Sector: A Literature Review. In Creative Construction Conference (pp. 305-310).
Pinto, J.K., Dawood, S. and Pinto, M.B., 2014. Project management and burnout: Implications of
the Demand–Control–Support model on project-based work. International Journal of Project
Management, 32(4), pp.578-589.
Pyzer-Knapp, E.O., Suh, C., Gómez-Bombarelli, R., Aguilera-Iparraguirre, J. and Aspuru-Guzik,
A., 2015. What is high-throughput virtual screening? A perspective from organic materials
discovery. Annual Review of Materials Research, 45, pp.195-216.

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Rezvani, A., Chang, A., Wiewiora, A., Ashkanasy, N.M., Jordan, P.J. and Zolin, R., 2016.
Manager emotional intelligence and project success: The mediating role of job satisfaction and
trust. International Journal of Project Management, 34(7), pp.1112-1122.
Spyrou, E., Ho, J.L., Hobbs, B.F., Johnson, R.M. and McCalley, J.D., 2017. What are the
benefits of co-optimizing transmission and generation investment? Eastern interconnection case
study. IEEE Transactions on Power Systems, 32(6), pp.4265-4277.
Assessment 2:-
Question 1:-

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Consider the common problems with project cost estimation and recall a project with which you
have been involved. Which of these common problems did you encounter most often? Why?
Answer 1:-
Cost estimation and budgeting is an essential part of any project management. In every
project, teams are necessarily evaluating their cost estimation in every time. In most of the
cases, the project teams are suffering some problems when they estimated project costs. Some
crucial factors are the reason for these difficulties in cost estimation. For the big project, the
budgeting is more complicated, and the financial planner is not able to know total expenses
(Internal and external). Sometimes the project teams are using hand calculation, and it is the very
time-consuming methods. If the workers are still executing cost calculations by hand, then the
organization are generating more substantial errors and slowing down the entire process
(Newcomer, Hatry and Wholey 2015). Large project teams are using software, but it also creates
some difficulties. Suppose any organization are using the software which is affected by some
problems. Then the entire calculation must be changed, and the organization suffers from
difficult situations.
Negligence is the most challenging problems. If the budgeter complete the budget
estimation, but after that, they are not able to check there calculated outcomes, then it should be
dangerous for the organization (Ramsey et al. 2015). In every time the project details are
modified, so without the daily cost evaluation, the project is incomplete. Proper cost estimation
evaluates the risk attaching level to a project. These are resolute by a diversity of aspects
including client maturity, governance, third party contribution, whether the price has to be
stationary and the level of supplies description.

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If the writer estimates the cost, then he should avoid all risks. Initially, he must not
neglect any small calculation in the budget. If they can know about the external and internal
expenses, he efficiently evaluates any project cost (Franks et al. 2014). One important thing is
that these project cost evaluator must be using proper tools which are secure and protected. From
a customer viewpoint, this completeness of opinion is always respected and favored to being
amazed mid-project when they have slight if any capability to take corrective action.
Question 2:-
Consider the following statements: “The problem with risk analysis is that it is possible to
imagine virtually anything going wrong on a project. Where do you draw the line? In other
words, how far do you take risk analysis before it becomes overkill?” How would you respond to
this observation?
Answer 2:-
Risk analysis is completed to estimate the effects of an action which is dangerous and
how it would affect in the whole organisational objectives. The risk analysis is an essential part
of every project. Without proper risk analysis, the project is not successful. The project maker
should identify all risk and manage this very suitably in this line state that the risk evaluator
knows which risk must be affected in their project. Suppose any project is suffering from the
over budgeting problem then the project team can avoid some unnecessary activities of the
project (McNeil, A.J and Embrechts 2015). A successful project team draw the barrier to
mitigate all difficulties very skilfully. These lines also state that every successful project teams
are evaluating their project risks in every stage. When they analysis there project risk in the
initiation to conclusion phases, then it should be very much helpful for the entire team. The
purpose of the risk assessment procedure is to estimate threats, then eliminate that hazard or