Detailed Business and Law Project Report on Project Management

This report provides a comprehensive analysis of project management within the context of business and law. It begins by defining key project characteristics, including scope, resources, time, quality, and risk. The report then delves into the creation of scope statements and the role of Work Breakdown Structures in project planning. A full project Gantt chart is presented, identifying the critical path and the time required for project completion. Furthermore, the report explores various approaches to budget generation, the reasons for risks arising in projects, and strategies to mitigate them. It also examines quality methods and the skills and competencies required by a project manager, including leadership, negotiation, cost control, risk management, and communication. The report outlines the project management process, detailing the project lifecycle and essential processes. Finally, it discusses leadership within project management and strategies for controlling problems. The report concludes with a detailed analysis of the project management process and provides a comprehensive overview of the key aspects of project management in a business and law context.

BUSINESS AND LAW

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
1. Key characteristics of any project...........................................................................................1
2. Scope Statement for a project and role of Work Breakdown Structure..................................1
3. Full project Gantt chart and identification of critical path, days taken to complete the
project. ........................................................................................................................................1
4. Approaches exist to generate budget.......................................................................................2
5. Reasons for risk to arise and various responses taken in order to overcome them.................2
6. Quality method that will be used in the project......................................................................3
Task 2...............................................................................................................................................4
Skills and competencies required by the Project Manager.........................................................4
Project management process.......................................................................................................5
Project life cycle..........................................................................................................................9
Processes:..................................................................................................................................10
Leadership.................................................................................................................................10
Ways to control problems.........................................................................................................11
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................13

INTRODUCTION
Business can be determined as the process through which management develop activities
that are helpful enough to raise the sales and profitability. Further, there are different set of laws
that are being developed by government that need to be considered and when these are not
fulfilled, then it is enforceable by law (Alaranta and Mathiassen, 2014). Present report is divided
into two different part. More specifically, first is about project development. Second part is based
on case scenario of John.
TASK 1
1. Key characteristics of any project
Project can be determined as the collaborative or individual process who intent to
develop plan with the help of which desired goals can be achieved. There different type of
characteristics in a project which are as follows: Scope: It explains the things that will be covered with the help of project. Resource: These are elements through which project is complemented (Power, Fogarty
and Provost, 2014). Time: To complete the project, activities are developed and for each of them time is
determined that has to be completed. Quality: This is the deviation or spread that is allowed from maintaining the standard.
 Risk: These are the barriers that falls on achieving each of the activities in project
(Shiroyama and Kajiki, 2016).
2. Scope Statement for a project and role of Work Breakdown Structure
Scope statement is a tool that is helpful enough to outline deliverables of the project.
Further, it also identifies assumptions and other related success factors. On the other hand, Work
Breakdown Structure in a project is helpful enough to break down the project in to different and
small components (Meddings, Byrne and Locks, 2014). Further, it can be derived to be the key
project deliverable that enables to organize work among different members.
3. Full project Gantt chart and identification of critical path, days taken to complete the project.
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The red path is critical one and it need to be completed on time or else the cost will
increase.
4. Approaches exist to generate budget
Budget plays vital role in order to determine the activities that will be covered in the
project. In this context, there are different type of aspects that need to be considered in to
develop project. With this respect, it includes project sales in order to develop budget period.
This is based on the estimation. In case the estimation made is not appropriate, then it affects the
project in the future (Korbee, Mol and Van Tatenhove, 2014). Further, it includes direct cost, it
consists of cost of materials, components that will enable to make the supply or product the
service. In addition to this, it is also important to make sure that fixed cost that will be incurred
in the project.
5. Reasons for risk to arise and various responses taken in order to overcome them
There are different type of issues or risk that is faced when project activities are
conducted. In this context, below given are some of the reasons due to which risk arise:
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Time management: There is time period that is determined for each of the activities that
has to be achieved which will enable to complete the project (Archibald and Archibald, 2016). It
is a type of barrier when the time determined is not being completed. When any one of the
activity get delayed, then all the following activities also gets affected.
Cost: When activities for the project are planned, then it includes cost that need to be
considered. It is important to set out appropriate financials support so that project can be
complemented. However, when it is not properly maintained, then it becomes a barrier and risk
of incompletion of project.
In order to overcome this issues, it is important to list our the activities that need to be
covered, then budget should be planned (Silvius and Schipper, 2014). In addition to this,
management need to consider total time that will be invested and accordingly employees should
be divided with respect roles.
6. Quality method that will be used in the project
It is important to make sure that there are proper efforts made through which quality of
the project is being maintained. In this context, below give are few of the methods:
Project evaluation: There should be time to time evaluation should be made as it is
helpful enough to determine the gap among the project that has caused (Romo, Capiluppi and
Hall, 2014).
Monitoring: There are many employees who are involved in the project and all should be
properly monitored so that the issues that are faced by them can be identified (Tan, Chen and
Wang, 2014).
Control: There are condition is in which cost gets raised or any kind of un-expected
activity occurred. In such condition, it important to have proper control over the same.
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Task 2
Skills and competencies required by the Project Manager
In order to be a Project manager, there are different type of skills and competencies that
is required. In this context, skills and competencies are as follows:
Leadership: This can be determined as one of the important skills as there are many
people who are involved in this project and it is important to make sure all listen to what has
been direct to them by the project managers (Tan, Chen, Shi and Wang, 2014). In this context, it
is essential to have leadership skills so that people from both ABC and DEF are guided and
direct for acquisition. Further, project manager need to skilled enough to inspire all the members
involved so that the plan which is determined as followed.
Negotiation: Different people have diverse set of perception and understanding for the
topic. In such condition all will provide them own suggestions and it becomes difficult to come
up with an appropriate outcome (Kanakoudis, Cerk and Zouboulis, 2013). It is important for the
project manager to have negotiation so that all the arguments can be eliminated and he decisions
that are taken can be followed effectively.
Cost control: There is requires to have proper control over cost. In order to achieve the
project in an effective manner, it requires to control cost so that both the firms will get agreed to
have acquisition. When individuals does not have this skill, then it is a type of disadvantage as
generally individuals do not agree to have higher cost involved.
Risk management: In order to undertake project, there arguments that take place and
when individuals do not listen and argue, then it affects the project and this is a type of risk that
can be faced (Cheyne, McCourt and Semple, 2013). With the help of risk management, project
manager will be able to eliminate the issues that can be caused in the meeting.
Critical thinking: This can be determined to be the core with the help of which effective
decision are taken. There are different type of situation that can be faced and it is important to
hat this skill so that appropriate analysis is made and effective outcomes are derived.
Communication: It is an essential that enables to convey the information or views to
others. When one lacks this type of skill, then it becomes difficult to come up with an
appropriate conclusion or decision (Dutta and Bose, 2015). The rate of confusion is high when
there is lack of communication skill.
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Project management process
There are different set of activities that are being developed and when these activities will
be followed within the determined time period, then it will be helpful enough to make sure that
the project of acquisition will be achieved. With this respect, below given are the plan that will
be followed by me as a project manager:
Tasks Name Cost Time Precedence
Initial planning 30 3 -
Recognizing the issue 20 4 1
Selecting the project 50 2 1
Reviewing the structure
and culture
40 3 2
Data collection 20 1 1,2,3
Initial meeting 50 5 4
Analysis of data - 4 5
Presentation 30 4 1
Determine issues - 3 6
Revision 40 6 7
Model of display 30 3 8,9
Preparation of report 20 4 9
Cost analysis Tech Prep. 50 2 10
Distributing invitations 40 3 11
Developing team 20 1 12
Determine the need of
resources
50 5 13
Estimating the cost and
time of project
40 4 14
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Project plan
development
20 6 15
Management risks 50 2 16
Contract Documentation - 4 17
Overall Project
Schedule
40 2 18
Prepare plan 20 3 19
Analyse project needs 50 1 20
Setting of scope of
project
- 5 21
Estimation of finance 50 4 22
Time allocation 40 6 23
Scheduling of activities 20 2 24
Allocation of roles 50 4 25
Allocation of money 40 2 26
Selecting human
resource
20 3 27
Determining technical
and program resources
50 1 28
Execution of project - 5 29
Weekly project schedule 40 4 30
Monitoring of entire
work
20 4 31
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As per the above listed out activities, it will be helpful enough to complete the project
effectively and efficiently. In this context, it can be stated that the initial task starts with initial
planning. It is important that there is proper planning to be developed so that all the members
involved will be able to understand the main objectives that needs to be achieved (Alaranta and
Mathiassen, 2014). Then it follows identifying the issues that are faced by the firm with respect
to cost. Further, all the activities that are being list out consist of certain amount of cost and the
planned activities are among them which enables to makes sure that it is within the budget that
was determined. Another important tasks is data collection which included finding of relevant
information that will help in understand the situation and appropriate outcome can be derived.
The information that is being collected need to be proper presented so that all the individuals
who are involved get to know the plan that are determined with the help of which project can be
completed. It is important to make sure that all the set of issues that are faced by both the sides
should be listed (Power, Fogarty and Provost, 2014). This will enable to know the steps that has
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to be considered. In order to operate the project of acquisition, it is essential to know the
perception of all the members who are involved. This way the involvement can be raised and this
is an effective step through which the project can be performed in an effective manner.
Presentation of report is another task in which all the information that is gathered is present. This
is helpful enough to come up with an appropriate outcome for the same (Shiroyama and Kajiki,
2016). Further, it includes proper explanation of the total time that will be incurred in order to
make sure that all the activities will be covered. It is essential that proper information is being
conveyed to all members. When any type of activity is listed, then there are certain set of
benefits that are incurred by the individuals. It is important to make sure that there is proper
consideration made for the scope of the project. Both the parties should get benefited from the
project that is being determined. In addition to this, for each of the activities that are planned, it
is essential to have proper support from people as it requires human resource help and for each of
them it includes cost that has to be covered (Meddings, Byrne and Locks, 2014).
Project life cycle
In order to develop a project management plan, there are different type of consideration
that are being made. These are helpful enough to make sure that the plan that has to be developed
can be completed effectively and efficiently (Korbee, Mol and Van Tatenhove, 2014). With this
respect, there are different set of processes, leadership and administration that are considered.
Further, there are consideration made with the help of project life cycle. With this respect, there
is a common goal that is determined by project team and project manager. For each of the
project, it consists of beginning, middle period and ending. In this context, there are four type of
phases that need to be followed in each project. These phases were helpful enough to complete
the project in an effective and efficient manner (Archibald and Archibald, 2016). Below given
are the four major phases:
Initiation phase: This is a type of phase in which need identified. It can be considered to
be an opportunity or problem. Further, need for the business is determined. As per the case, me
as John will try to understand the benefits that ABC will get through acquisition.
Planning phrase: In this phrase, solution for the project is determined. There are two
different organizations and they have their own expectations and preference (Silvius and
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Schipper, 2014). It is important to make sure that proper planning is make so that all the
members involved will be able to get satisfaction.
Implantation phrase: The plan decided is put into action and the work related with the
project is performed. In this stage, it is essential to have proper communication and control at the
time of implementation. There is regular monitoring and proper adjustments are made so that the
plan that was developed can be achieved (Romo, Capiluppi and Hall, 2014).
Closing phrase: It is the overall understanding of the project and the way it was enacted.
The effectiveness of the project is identified. The ways through which improvement can be made
and the gap is also derived.
Processes:
In order to be a project manager, first steps that will be taken is developed a team of
individuals in which individuals from both companies will be included. This is done in order to
make sure that the rate of problems or barriers can be reduced. They will be helpful in gathering
information about the firms (Tan, Chen and Wang, 2014). Relevant information will be gathered
by them that will help to understand the performance that is made by each of the firm. These
type of information are helpful in order to develop plan for the project to be successful.
Leadership
There are different type of leadership that can be followed by the project managers.
However, in accordance with the case, it is important to consider the suggestions that are
provided all the members considering both companies (Tan, Chen, Shi and Wang, 2014). With
this respect, democratic leadership will be followed. This is a type of style in which all the
members are provided with the opportunity to provide proper information and suggestion. This
way, it helps to come up with appropriate outcome for the project and acquisition can be made.
In case, autocratic leadership is followed then, members who are involved will not be considered
in order to get proper information or their views and decision is made as per the preference of
project manager. This will have negative impact over the business and the project plan when
consideration is not made of others members (Kanakoudis, Cerk and Zouboulis, 2013). However,
with the help of democratic leadership, all the views that are given by other members will be
considered and proper steps will be taken.
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