PRST241: Essentials of Project Management: Molson's Approach Analysis

This report provides an analysis of project management essentials, using Mr. Molson's management approach as a case study. It covers key aspects such as mapping a strategic agenda, developing a business case, estimating work breakdown, and applying the critical path method. The report also explores risk management strategies, project budgeting, project execution methodologies, and post-implementation reviews. The analysis examines how Molson effectively manages projects within The Burlington Insurance Company, focusing on the systematic strategies employed to achieve project goals. The report emphasizes the importance of strategic planning, stakeholder engagement, and comprehensive project management techniques for achieving desired outcomes in a business setting. The report also analyses the use of project charter, work breakdown structure, risk identification, project budget preparation, and project execution components, as well as the importance of post-implementation reviews for continuous improvement.

Running head: PROJECT MANAGEMENT ESSENTIALS 1
The Essentials of Project Management
Name
Institution

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Essentials of Project Management:
Analysis of Molson’s Management Approach (PowerPoint presentation)
Introduction
Project management entails all the firm’s activities that aim at effectively managing
the work of a group focused on achieving a specific goal. Project management is divided into
two limitation primary limitation, which involves budget, time and quality. Secondary barrier
consists of the utilization of resource to meet an expected outcome. The objectives of project
management are anchored on the three characteristics of scope, budget and schedule to meet
desired deliverables at minimal risk, with a guarantee of quality, safety and security. At times
the desired outcomes compete and require a balance throughout the project lifecycle.
Mapping a Strategic Agenda
Mr. Molson’s mode of operation enables him to outline his work plan through a
systematic strategy that is stepwise. He begins by gathering the required inputs necessary for
him to realize meaningful outputs. Project management includes outlining a strategic agenda;
this may involve the use of charts to help the organization lay out plans for the scheme
required. This is effective to help the organization to keep a record for its progress to achieve
their goals. Strategic agenda develops tools needed to initiate speed and quality, which can be
executed to the projects (Harris, 2017). Strategies employed in this scheme of work are
custom built to serve a particular organization in mind and may be ineffective to other firms.
The strategic plan guides the initial strategies laid down by the organization; this helps
evaluate the organization' s goals and strategic issues to assess current practices and
determine new programming. The strategic agenda helps focus on long term vision into

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substantial success (Smith & Dodds, 2017). The elements of a vital agenda points are targeted
on assisting the business leadership focus on the long term goals.
Developing a Business Case
Molson spends time with his assistants O’connor, Murphy, James and Johnson to
draw a working strategy for the Burlington group. He further reaches out to various
stakeholders for their contributions towards building a strong case for the business.
Developing a business case is vital, especially to one that seeks to grow. A business case
contains the reasoning that led to the initiating of a specific task. The business case is a
justification to an organization for the undertaking of a project based on the budgeted costs of
development and implementation against the risk and the expected final benefits (Hedeman et
al., 2017). A business case involves the anticipated benefit, the option that could be
considered based on their ability to be viable and profitable to the organization. This also
carries with it the reason why specific plans were rejected. Mr.Molson built a successful
business case through the four franchise companies and brought his twenty years of
experience to the table to make the venture a success. The business case also contains the
expected costs of a project, a gap analysis and expected risks.
Estimating Work Breakdown
A project charter is a statement of the scope, goals and participation in a project. The
range of a project is essential because it introduces the idea of leading to the need for the
fulfilment of the decision. The scope contains specific project goals, deliverables, tasks and
deadlines. Project scope is accurately determined to define and map and assist managers of
the projects in allocating proper costs to labour and other expenses incurred to facilitate the
completion of the plan (Weiss, 2016). The project scope involves planning, which includes
determining the work to be done by the members of staff. Controlling focuses on

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documenting, approving and tracking changes that are done within the organization aimed at
achieving a vital goal. The project scope includes the auditing of project deliverables and
assessing the outcome of the original plan.
Work breakdown reduces complicated activities into a collection of tasks that can be
easily be achieved by the members of the staff (Siami-Irdemoosa, 2015). This also helps the
manager to easily monitor the job effectively since the functions are measurable and
independent with each task having defined limits to how it works. It helps the new members
of staff to know their role and also help the manager to notice the strengths and weakness of
each member of the team and can be used as a tool for communication with the hierarchy
outlined in the organization; it shows the relationship and leadership of the project work. The
work breakdown structure gives responsibility to each member of staff a means to prevent
action from falling through without attention (Ashtiani et al., 2017). Molson understands the
importance of work breakdown and he ensures that he prepares the required material for the
execution of the project through a series of meetings with stakeholders.
Critical Path Method
Critical path method involves the scheduling of project related actions that are used
alongside program evaluation and review techniques. The analytical path method effective
planning, controlling and planning of projects. The manager is obligated to find a logical way
to complete the task that was set ahead to ensure that the aimed goals are achieved. Critical
path analysis requires detailed planning of the project with the most likely outcomes in mind,
and this gives room to more long-range activities that are laid in place to ensure that each task
I completed (Woolf, 2012). Critical path method provides a standard way of documentation
of the project giving room for communicating project plan, schedules and performance. It can
help identify an essential part of the projects based on scheduling the event that is planned to

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take place. Critical path method provides an easy way for evaluating effects of change that
have taken place on the overall project endeavour from changes in the procedure to technical
amendments. The critical path method is essential since it the best way to help managers
avoid poor planning while giving priority to the vital aspects required in the project.
Risk Management
Risk management involves identifying, evaluating and prioritizing risks by the
commercial application of resource to minimize the probability of unfortunate events and
maximize on opportunities available (Harris, 2017). Risk management involves five steps,
which include; Risk identification, it's the project manager's task to identify risks that could
include in the project. Risk analysis each risk is evaluated to the extent to which it can affect
the firm.Risk evaluation, it's essential to know how much will be in the line and how it will
generally affect the firm if it happened. This ranking is done to put a priority on the
substantial risks involved with small risks can be tackled by the members of the staff. Risk
treating regardless of how little the danger could be each risk needs to be cured by
introducing a practical solution of tackling. Risk review, some risks cannot be, and such are
suitably handled by professionals who help maintain it when it occurs (Kerzner, 2017)
Project Budget
A project budget is the total amount of money allocated for a particular purpose for
completing a planned project in a specified period. A project budget requires the following
sources of information to help in preparing for it. This involves information from; work
breaks down the system, project contracts, resource requirements, cost estimates, market
condition, chart of account structure and historical data (Healey, 2012). The knowledge
acquired will be used to develop cost estimate by activity, budget variance and project
budget. Project budgeting is done in the initial stages of planning to help avoid unexpected

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loss from the project and ensure the development of each task and the cost of any labour is
accounted for. A project budget is essential since it allows the manager to acquire equipment
and material simply because they are dependent on the plans made in the budget. The project
budget is important because it provides the basis for project cost control. A project budget
informs the stakeholders how much is required and the cost of each requirement, for example,
equipment. An approved project budget funding is what drives the start to completion of the
set project. The information required for preparing a budget involves estimates of activities,
contracts, the project schedule, the scope and the resource timelines (Hearley, 2012). The
basis for calculations includes cost activity estimates. Activity cost estimates include ratings
for each work and the cost involved in each event. The scope baseline brings awareness to
limitations that are mandated by the organization, group or government.
Project Execution
Project execution is the fulfilling of prior plans made ahead of the project aimed to
deliver the programs to completion. The elements of project management are made of
significant components. The essential features include declarations of goals, technical
specifications, resource allocation, project plans and organization recommendations. Scope
definition is aimed at defining the intentions and terms for the project. The statement of the
goal is a list of specific requirements of a project such as deliverables and the life cycle of the
project. Qualification and technical definition include the following parameters, measurable
descriptions, clear explanations of concepts, available standards and time-bound meaning
(Healey, 2012). Resource allocation is what is used to achieve stated goals and quality
standards; this includes finances, skills and labour and time consideration. Project scheduling
is essential in the execution plan; this enables the project team to pace themselves based on
what task needs to be completed first and also monitor the progress made in the execution of
the project. However, in spite of being a vital part of the project execution, it is necessary that

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the manager should be able to employ exceptions when ready. Schedules rarely stick to the
planned courses, and it's essential to review the programs in cases of a setback found
(Heagney, 2016). Organizational recommendation entails the manager's information about
the project and other stake holders aspects of the project. It also contains decision making
authority for various section of the trade. It also includes the general stance of the undergoing
project and details about the teams involved and their structure. The organizational
recommendation includes coordination and report, method of monitoring the project.
Post-implementation review
Board members assess if the objectives of the project were met. It is often known as
the last step in the project management which vital goals are discussed about the information
before the object plane. The review is conducted after completing a project to determine the
effectiveness in managing the project ensure that the organization get the most significant
possible benefit (Healey, 2012). This review is held after the project has been submitted, and
most of the differences have been ironed out. During the study, there is a sense of strife due
to the new changes, its essential that the organization should introduce methods that will
bring a sense of community in the organization. Some of these methods include looking at
both positive and negative lesson that each person learned on their own during the project
period. The project charter is reviewed to measure how close the result of the project matched
the expectations of the project. The budget is discussed in the post-implementation review to
find out the difference between the flexed and the actual budget (Wysocki, 2017). The post-
implementation review ensures that the organization receives total benefit from the project.
Project completion is not synonymous to project completion; it's vital that every member of
staff can express their view and ideas about the project. This is to ensure that each member of
the group does not feel left out. During the review, the organization seeks to pursue
improvement to achieve more excellent benefits.

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Scenario 1(Put Yourself in Molson’s shoes)
The story of Mr.Molson is one of a success because he uses his own creativity and
initiative to generate a workable business plan which is implementable across the four
company portfolios. Learning from his business case, the stakeholders are able to attune
themselves to the current state of affairs and at the end of the day they realize the potential
that lies within their organization and take up responsible actions which spur their
companies’ growth.
On a personal level, Molson is an effective communicator who listens to other
people’s opinions and when he puts a point across, it is evident that he commands the
attention of the other stakeholders. Effective communication is two way. He has managed to
do this to the advantage of the growth of the enterprise since each stakeholder is able to
interact freely creating a good working environment for all stakeholders. One on one
communication is a necessary tool in business especially within working groups and teams.
Molson’s approach of analyzing each stakeholder’s capabilities and experiences enables him
to skillfully devise a way of making all the stakeholders to interact at a personal level
therefore creating a cohesive team that is focused on delivery to attain the organization’s
objectives.
The business case has been prudently applied in the measurement of the company’s
potential and Molson uses it to map the companies’ growth through the laid down agenda of
the enterprise. He also goes personally to each employee and discusses aspects that surround
the internal and the external conditions of work. This approach yields in creating a
rejuvenated team which is motivated for work. Ideas generated from his business case are
useful in improving the outlook of the company especially the new ideas which once
implemented will address the problems currently facing the organization. One characteristic

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that positively distinguishes Molson is his value for information. He takes all information
presented to him with the seriousness it deserves, while at the same time taking great
precaution against the risks the same information is likely to expose him to.
Risks are an obvious provision in any project and therefore it is important to conduct
a comprehensive risk analysis and Molson is alive to this fact and takes measures to avoid
risk in all his project implementations by considering all factors presented in each project
case. Using business plans an organization is able to project into the future and set attainable
objectives. Molson uses information generated from these plans to get insight into setting
new goals for the organization.
Each stakeholder has been assigned a strategic undertaking and information records
assist Molson to track each portfolio task to a specific stakeholder. This makes management
easy and enhances competition among the internal staff by aiming at greater achievements.
Through the information generated from these sources which include spreadsheet calculation
programs Molson is able to plan on what is achievable and leave out what is not and
especially in conducting creative analysis of the cost aspects of the presented project plans.
All these perspectives are customized to increase the organizations’ productivity.
Module I Discussion Question
I have years of experience with projects in my personal and professional career, small
and large, some failed, and others were completed successfully. I think many of them failed
because they were configured to fail. For instance, years ago, I wanted to start my own
business as an event planner. The first event was to host a Quinceñera's celebration. I spent
months planning every detail, budget plan, event sites, caterers, invitations, bakery, music,
photographer, video, etc. I tried to get people with the right strategies, but the event was not
as smooth as I expected. There was a significant part of the fact that it was overlooked. I

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failed due to lack of experience and did not know how to monitor the activities throughout
the event; and finally, I lost money when the game ended because the budget was inaccurate.
I was not competent with the project's life cycle, which four phases go through from start to
completion: planning, build-up, implementation, and closeout (Pica, 2015). "Project
management is the application of knowledge, tools, and techniques applied to project
activities" (PMBOK). I learned that a project manager needs a set of strategies and techniques
to identify all the essential information, describe in detail the work required, meet the goals
and objective within the time and budget, identify project risks, create a well-organized,
focused and committed team, monitor performance and address any problems until the
successful completion of the project. Despite the conflicts and challenges faced with my first
event, I believe a good project manager possesses the capacity to cope with failures and learn
from past mistakes. Knowing that each failure is a learning experience, and it is an
opportunity to grow. A weakness that prevented a project manager from being, in my
opinion, is the ability to prioritize. Sometimes project manager made wrong decisions, and
they prioritized crazy projects. We need to understand and differentiate a project that has the
most significant impact and requires a greater sense of urgency and quality. These might
include, for example, a considerable customer escalation, innovative projects or complex
presentations. Prioritization increases the success of strategic plans because it is aligned with
the organization's objectives and maximizes its performance.
ERP Implementation Question
The project manager used the work breakdown method to help complete the task at
hand. However the inability of the team players to be able to achieve the set and expected
goals at the time requested signifies the project manager might have placed the members of
the team in places where their strength did not fit as opposed to placing them where they had
a sense of belonging. The work breakdown process engages that staff and team players

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should be able to accurately fit in places where their strength are attached to achieve primary
goals .The project manager needs to motivate the members of each team by giving them
encouragement to help complete the tasks issued than giving room for conflict when each of
the team members fail in achieving their goals. The project manager should have estimated
the amount of work each member of the group was able to achieve and ensure that it could
have been handled within a short period of time. The project manager while preparing the
duties of the project should have aligned her work breakdown to the factors of the employee
abilities in order to ensure a successful completion of the task at the anticipated time. The
project manager while preparing her work breakdown should have placed team members in
teams which the members were able to work and complete each member’s task in the case of
a shortcoming from a team player. The project manager should have been considerate to the
strengths of each of the team member in order to help them achieve the task successfully.
The project manager should have used the critical path method to help plan out the
projects that needed urgency to help the project team members to prioritize on the basis of
which case needed immediate attention to cases that were less vital to the project. The project
manager should have presented the most difficult tasks to the team members with the ability
to work with the shortest time and are able to facilitate a difficult to completion. This would
have helped the members of the team with insufficient experience to learn from
apprenticeship from members with more experience. The project manager failed to consider
the factors like the most important tasks of a project and this is seen when members of the
team are unable to deliver on their tasks as expected by the project manager.
The critical path method would have been helpful to the project manager by helping
her predict each time it would take and offering a sufficient time scale to both the members of
the team and to the client with an expectation of a job well done. The section would have
been prioritized based on the necessity it holds to the project to ensure that the project is

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steered into completion. The critical path method if used would assist the project manager to
assign the task to the most versatile team that would guarantee delivery. The method would
give the project manager enough time to make diagrams with visual aids to help her to
prioritize.