Report: Project Management for Induction Program at Bloomsbury

This report provides a detailed analysis of project management principles applied to an induction program at Bloomsbury Institute. It covers key aspects such as project scope and overview, including the identification of project objectives, constraints, and work breakdown structures. The report delves into project cost management, outlining budgeting strategies and cost estimation techniques. Project time management is addressed through the use of Gantt charts, network diagrams, and critical path analysis. Furthermore, it explores project risk management, discussing risk analysis and frameworks for mitigating potential issues. Finally, the report examines project communication management, including stakeholder analysis and communication strategies. The report aims to provide a comprehensive understanding of project management practices within the context of the Bloomsbury Institute's induction program.

Managing Operations and
Projects

Contents
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................1
TASK...............................................................................................................................................1
1. Project scope and overview.....................................................................................................1
2. Project cost management.........................................................................................................2
Project time management............................................................................................................4
Project Risk management............................................................................................................6
Project communication management...........................................................................................7
CONCLUSION................................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
In present time, companies operate various sorts of business operation and project which
require a proper project manager that implements useful policies and strategies to make the
project work as per the plan and reach the main target. Project management includes looking for
the necessary data, performing detailed preparation, coordinating and monitoring activities to
meet the project goal (Artto, Ahola and Vartiainen, 2016). Bloomsbury Institute is already
chosen to help describe systematic project preparation, promoting the engagement of the systems
engineer to arrange an induction program for three days. The goal of administration is to accept
the very next educational year's admission. This project strategy includes project description and
scope, expense accounting methods, strategies for managing risk, and also project contact
management.
TASK
1. Project scope and overview
Project overview is about the brief for the project which needs for understanding the
clients. The overview about whole project needs for the concise as it helps for the making clarity
which leads for the makes better decision. It is beneficial for the representatives for the
Bloomsbury institute in order to achieve views which leads for organising three-day induction
for the wider scale. The scope for designing the project is about executing various activities
efficiently. Wide emphasize gives details for the whole process which includes determine
suitable venue, design the conference hall, prepare speeches for welcome the coming students &
their guardians. Proper organising for the events influences the efforts for the students for
performing activities perfectly. The main objectives for the event is making things which
includes institution, courses, professors etc.
The things for the making plans which project includes deciding the venue which has
adequate capacity for meeting the students & their guardians. It includes predicting the
participants & arrangements for it. It includes various activities for organise this event.
Work breakdown structure is the process for making works for various parts which helps
for the better performance for achieving objectives. This is manageable section for organising
things for the event which helps managers for makes things better. In context to Bloomsbury,
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this structure helps for making activities better which gives higher profitability. This helps
company for making its activities better which gives it higher profitability for its business.
There are different things correlated with the whole activity that are discussed below:
Capital constraint: It is recognised as being among the main elements of each project schedule.
All the facilities required for the organisation of marathons or other activities. It is primarily relat
ed to limited workers and funds that are required in company administration due to various ventu
res.
Financial constraints: They require a decent quantity of cash to coordinate such an operation on
a massive scale such that all components can be made usable. Crucial approval from municipal
councils can be sought it has been said that they are a well-respected organization. Conducting
such a case, though, that it is possible to enter large numbers of participants, which is of
considerable concern to the government.
Time constraints: coordinating the preparations that are accessible at the moment of both the
occurrence seems to be more essential for each company and management. As it will actually
occur in May 2018, it is able to achieve any possible condition in line with the expected
timetable.
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2. Project cost management
In addition to effective project management, management accounting involves the process
of planning, calculating and managing spending involved with activities. In order to minimize
the over-budget scenario, it is the duty of administrators as well as organisers to forecast total
spending in anticipation. In regards to the Bloomsbury Institution, all project expenses are
recognised within the preparation process and approved to begin the task quickly. It requires
budget planning that, by deriving desired performance, helps to control capital, services and
financial capacity.
Budgeting is seen as a beneficial activity that helps to schedule the campaign and also
control the business's expenditure. This involves the preparation of a comprehensive schedule
used to monitor total success efficiently (Basu, 2017). The budget strategy will allow the
Bloomsbury Institute to coordinate the event efficiently by eliminating excessive spending and
handling the total duties efficiently within the desired number. The institute has agreed to pay £
82500 for total activities in order to carry out the induction scheme. It is also the duty of the
management to recognize the existing value and, consequently, to take steps to accurately
identify the current intake criteria. Thus, planning of budget regarding 3 days’ activity is
described below:
Particulars Amount (In £ )
Event Venue 18500
Stage formation 8200
Print flyer for publicity 7000
Send email reminder 3000
Decorations 8000
Registration 3500
Arrange speaker 5000
Arrange catering 6000
Utility expenditure 3000
Security 2500
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Miscellaneous expenditure 8300
Total 73000
Cost estimate is an important metric that is used to assess the treatment of funds that were
projected for implementation process as predicted costs and used ions. The Bloomsbury
institution allocates these expenses to various tasks such as surveillance, computing as well as
cost management for a fixed period. This enables to periodically review knowledge and market
results on the basis of which important improvements can then be improving overall
(MacCormack and Mishra, 2015). Thus, expense baseline aims to minimize the likelihood of
difference and reach acceptable efficiency efficiently in the assignment of spending in due
delicate time:
Particulars I II III Total
Event venue 6000 4500 8000 18500
Stage
formation
1200 4000 3000 8000
Print flyer for
publicity
3000 2500 2000 7500
Send email
reminder
1000 1000 1500 3500
Decorations 3000 4000 3000 10000
Registration 2000 1000 1000 4000
Arrange
speaker
5000 4000 4000 13000
Arrange
catering
5000 3000 4000 12000
Utility
expenditure
500 500 500 1500
Security 700 300 500 1500
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Miscellaneous
expenditure
1500 500 2000 4000
Total 29700 25300 27500 73000
Project time management
Project time management ascertain that proper time has given to various activities in
programs as target to achieve the task effortlessly. Due to mentioning of end date in each
program it is essential for program head to ensures the effective utilisation of time and
successfully figured the gross productivity. It helps to convey differentiation by determination of
performance of an enterprise. The program manager of Bloomsbury organisation is utilising
various techniques like Gantt chart which helps in estimating various activities for which
particular time period is allocated. Hence, it is considered as important plan of action that keep
their focus on various task.
Gantt Chart:
From the chart presented above clearly shows that, it is used to estimating and scheduling
various plan of action in a proper record. Bloomsbury organisation carry forward their task
representation in graphical order in which end time displays according to their activities. Such
programs and plan of actions modify the task and duty for subordinates and as well as team
members for remarkable outcome.
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Network Diagram:
From the diagram above, it has been determined that it is known as the diagram chosen by
investigators for developing visual representation of the plan or activity. It is seen that project
activities are done in efficient manner by controlling and managing the work. There are several
managers and leaders within the organisations for managing different activities involved within
projects. There are several ways to manage the work of project and one of it is the usage of
network diagram. This reflects that different tasks and projects are used for managing the work
and meeting the goals of project. The institutions can assess designing of project in order to
complete the projects and achieve goals. Network diagram helps to manage different processes
like scheduling out task, sequencing the work or responsibility and track the progress of event on
the basis predetermined indicator which is initiation to completion duration.
Critical path analysis:
From the above critical path, it has been founded that the boss requires this software
development strategy to effectively plan out critical activities that work to accomplish the project
effectively. The meaning is assigned to the time predictor on the grounds of which operations are
carried out internally for a limited amount of time. This is mostly used by the Bloomsbury
Institution in necessary to prepare practical targets that serve as an agenda on the framework
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among which multiple projects are gradually carried out. It is a valuable way for managers to
coordinate decisions in a reasonable timeframe and establish cohesion, contributing to the
efficient execution of operations (Smith, Merna and Jobling, 2014).
Project Risk management
The job of Project Risk Management is to conduct the different activities carefully in order
to minimize the risk opportunities that can negatively impact the design process. At both the
moment of planning case, there is some danger that may arise such as technological difficulty,
time mismanagement, unexpected visitor increase. The continuous supply of financial and
human resources must also be available (Swink and et.al., 2017). The leader is required for
predicting any problems that could occur over the duration of this three-day event. Some
instruments, such as the Delphi process, may analyse the core issue that could appear in the
potential and impact the training session. Consequently, it is important for the organizer to have
access to an alternate approach depending on which steps should be undertaken to resolve the
situation effectively.
Risk framework is being used to access various degree of risk and is analysed by management
and sets out varied group. The director of Bloomsbury institution utilizes this framework to
analyse the unfavourable case and predetermine successful metrics that can beneficial resolve
deceptive situations. For instance, the institute must have the desired caterers available to cope
with elevated guests. These activities also help to solve the unexpected condition efficiently by
completely taking advantageous steps.
Risk analysis: This really is the best process in which the planner closely analyses the potential
risk in order to evaluate the causal relationships. This can be grouped into:
Qualitative analysis: Here the, mostly on grounds of each priority, the job is split so that they
might focus on crucial aspects in ability to implement good outcomes to the business.
Quantitative analysis: With the assistance of quantitative analysis including formulas, the
primary function is to infer or forecast actions or events.
Project communication management
An integral aspect of any initiative that helps to achieve success is ensuring productive
contact. The involved in project communications includes tasks such as planning, information
gathering, knowledge creation, processing and management of project documentation. The
program manager holds timely discussions on a timely basis with multiple participants, such as
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team members and project partners. It requires the involvement of the manager and internal
presenter or effective planner who are members of Bloomsbury institutes. It is possible to use the
total member's participation via an accessible contact medium such as instant messaging, face-to-
face conference, email system and much more to coordinate the successful event in early
September. It then contributes to the productive sharing of knowledge for project progress. The
stakeholder matrix analysis for the educational case is seen below:
Level of interest
(High )
Level of interest
(Low)
Level of power (High) Management Government
Level of power
(Low)
Staff members Customers
High control and high interest: Administrators and Board of Directors are in this group
because they stay totally efficient and also have the responsibility to approve successful
decisions and plan activities accordingly.
High power and low interest: Administration is inclusive of this category, since they have
jurisdiction to engage with results in the lack of specific standards and legislative responsibility.
Low power and high interest: Workers or teammates have low power when they have been
expected to conform with the mission assigned.
Low power and low interest: Consumers are amongst the most significant stakeholders who
lead to the sustainability of the organization by engaging in the successful case.
CONCLUSION
In the last of reports, it is founded that PM contributes a widespread part in relations to
efficiently idea available the actions as well as processes of a company. To achieve the impartial
an occasion is confidential into diverse groups or events which is analysis into modest actions
and needs to be effectively practised for successfully functioning. PM alongside with their team
associates organises the financial plan that wants to be complemented by assorted useful part in
order to decrease avoidable spending and carry out job to reach standard presentation.
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REFERENCES
Books and journal
Artto, K., Ahola, T. and Vartiainen, V., 2016. From the front end of projects to the back end of
operations: Managing projects for value creation throughout the system lifecycle.
International Journal of Project Management. 34(2). pp.258-270.
Basu, R., 2017. Managing quality in projects. Routledge.
Brady, T. and Davies, A., 2014. Managing structural and dynamic complexity: A tale of two
projects. Project Management Journal. 45(4). pp.21-38.
MacCormack, A. and Mishra, A., 2015. Managing the performance trade‐offs from partner
integration: Implications of contract choice in R&D projects. Production and
Operations Management. 24(10). pp.1552-1569.
Matinheikki, J., and et.al., 2016. Managing inter-organizational networks for value creation in
the front-end of projects. International Journal of Project Management. 34(7). pp.1226-
1241.
Smith, N. J., Merna, T. and Jobling, P., 2014. Managing risk in construction projects. John
Wiley & Sons.
Swink, M., and et.al., 2017. Managing operations across the supply chain. New York, NY:
McGraw-Hill Education.
Thamhain, H. J., 2014. Managing technology-based projects: Tools, techniques, people and
business processes. John Wiley & Sons.
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