Project Management: Planning, Cost, Risk, and Quality Analysis

This report provides a comprehensive overview of project management, beginning with an introduction to its core principles and essential tools. It explores the Work Breakdown Structure (WBS) as a method for organizing tasks, and delves into planning techniques such as Gantt charts and Critical Path Analysis. The report also reviews various project management models, with a focus on Agile methodology. Key areas like cost management, risk management, and quality management are discussed, along with procurement processes, including tender procedures and contract details. The report emphasizes the importance of vendor relationships and outlines payment and delivery terms. It concludes with a list of potential suppliers, offering practical insights into the successful execution of projects. The report offers valuable information for students studying business development.

PROJECT MANAGEMENT

INTRODUCTION
• A project management plan is based on the documentation that can be used to
describe about every phase of project. On the other hand, it is a collection of
subsidiary plan or baselines that mainly include cost, scope, time schedule. The
purpose of plan is to determine the overall project result or outcome, where how it
will be achieved. The documentation will discuss about the principles, tool and
technique which mainly used for project development.

MAIN BODY
The project management principles may be defined the core fundamental concepts
and follows by rules to manage overall project successfully or effectively.

WORK BREAK DOWN STRUCTURE
• It is a type of process that can organise and manage overall project in systematic
manner. Each and every task should be divided into proper manner. It is an
integral part of project to manage all different tasks.

CONT.

PLANNING BY USING MS PROJECT
• Gantt charts: it is a type of bar that represent the project schedule where it can be
divided into different task that performed on vertical axis and shows time intervals
on the horizontal axis.
• Critical path analysis: It is also another type of project management technique
that mapping every task in proper manner. It always includes the amount of time
which necessary to finish each activities and dependencies.

REVIEW OF PROJECT MANAGEMENT MODELS
• Agile Methodology: it is considered as a best practice that promote continuous
iteration of development and testing by using SDLC. This method is emphasizing
the core values and importance for project completion.

COST MANAGEMENT
• It is a process for estimating, controlling and allocating the price of overall project.
It allows for business to predict coming expenses in order to minimize overall
budget.

RISK MANAGEMENT
• It is important part of organization which help for identifying the various type of
risk which need to control in proper manner. It can be categorised into different
groups: product risk, business risk and project risk. Sometimes, it has found that
issues in hardware and software system which are not suitable as per current
budget in project completion.

QUALITY MANAGEMENT
• Through this approach, it must ensure that all project control necessary activities
which required for design, plan and implementation. In order to measure the
performance of overall project objective.

PROCUREMENT
• In the project, it will be creating the relationship with vendor, supplier for purpose
of goods and services. In this way, it is helping for complete the project on time. It
is based on the contract writing, completing process, monitoring and closing.
• It will set up the procedures to follow the procurement. Afterwards, it will go to the
tender for following the suitable approaches.

TENDER
• In the project, it will choose particular tender that indicate their bank details and
other offers. The information is required for purpose of payment against the
contract by using cheques. Being issued with indication to safe guard against the
payment and delivery terms.