Project Management Knowledge and Cost Analysis for Builders

This project management assignment analyzes the construction of two units for Reasonable Builders, focusing on systematic project planning and scheduling. It utilizes MS Project to create a detailed timeline and cost analysis, incorporating techniques such as the waterfall model, Gantt char...Read More

Running head: PROJECT MANAGEMENT KNOWLEDGE
PROJECT MANAGEMENT KNOWLEDGE
Name of the Student
Name of the University
Author Note

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Executive summary
The aim of the assessment is to determine the basic concept that is related with a systematic
project planning and scheduling. While executing a project it is considered to be essential to
ensure that project management techniques are used for the purpose of managing the project
duration and overall cost. The paper will focus on analyzing and applying the principles that are
associated with cash flow planning and cost control. Thus it can be concluded that with an
enhanced project management principles it will become easy to manage the performance. The
paper will focus on analyzing the project management techniques in respect to the case study of
Reasonable builders. It is expected that by the end of this paper sufficient knowledge will be
provided towards the company about the time line and cost.

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Table of Contents
Introduction......................................................................................................................................3
Project management techniques and tools.......................................................................................3
Optimizing time and resources........................................................................................................4
Cost for developing the project....................................................................................................6
Variance and time........................................................................................................................7
Gantt chart...................................................................................................................................9
Resources for project.................................................................................................................10
Network diagram...........................................................................................................................13
Critical path...................................................................................................................................14
Conclusion.....................................................................................................................................15
References......................................................................................................................................16

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Introduction
The main perspective of the assessment is to improve a time line and cost for
understanding contract components well. With proper assistance and knowledge of project it
becomes easy to negotiate the price with client. The project will include developing an effective
schedule for offering better support towards the organization. This assessment will focus on
evaluating the different components associated with developing the schedule. The report will
focus on planning the time, cost and resources that will be used for successfully executing a
project in addition to this the critical path will also be determined within the MS project. Thus it
can be stated that with the help of this assessment it will become easy to manage the
performance of the project.
Project management techniques and tools
Project management techniques are used for the aim of offering better support towards
the development of a project. With the growing technologies it has been identified that with the
evolution of project management methodologies it becomes easy to provide effective support
towards the successful execution of the project (Chavez 2018). The best project management
technique that will help in developing the project is waterfall technique. The main focus behind
selecting waterfall model is that it uses clear structure so that it becomes easy to define the
different steps and information can be transformed properly. Hence it can be concluded that
with the effective use of PM methodologies it will become easy to define the objectives.
MS project is the project management tool that is used for developing an effective
schedule of a project, helps in assigning the resources towards a task so that it becomes easy to

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manage the project. In order to understand the different components associated with the project it
is important to use Microsoft project (Jamali and Oveisi 2016). The key benefits that are offered
with the use of Microsoft project includes simplifying the IT management, offers effective
presentation and also ensures that a better way of communicating with the key stakeholders are
identified.
Optimizing time and resources
Before developing a project it becomes necessary to ensure that the resources and time
frame are being planned properly so that the project can be developed effectively. The project
needs to be expected within a schedule time and budget so that it becomes easy to manage the
performance of the project. In order to optimizing the time, the tasks will be carried out in
minimum time frames (Joslin 2019). This will ensure that the resources and overall time needed
for executing the project is reduced. The key phases that are going to be included within the
project are described below:
Phase 1: Planning and Site designing
This phase will focus on creating site plans for the purpose of easy development of the
project. The site needs to be preparing properly so that it can be used successfully for managing
the different materials. A foundation needs to be lay down properly so that it becomes easy to
organize the materials. The time needed for completing the phase is estimated to be around 30
days. It is expected that within the estimated time period it will become easy to execute the
process. There is a need to ensure that the tasks are managed effectively together so that it can
offer better support.

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Phase 2: To Lock up
This phase is considered as an important phase as this involves internal development of
the site. This phase will focus on erect framing, preparing the lay roofing, brick walls
development and fitting the windows and doors for completing the site. For the purpose of
optimizing the time frame it is important to complete the internal design together. This involves
preparing the brick walls and fitting the doors and windows for the completion of the site. With
reduced time frame it will become easy to manage the project development process. Moreover it
is expected that the reduced time frame will attract attention of customers.
Phase 3: Fit Out
This includes developing the interior works that includes performing the electrical works,
internal plumbing, and plastering the walls. This installation of kitchen and bathroom can be
done on similar days. This will lead to reduce in overall time frame and there resources that are
needed for managing the business activities. The final fittings need to be done effectively for
developing the project successfully.
The main reason behind optimizing the resources and time is that it helps in increasing
the revenue and also ensures that the conflicts are resolved effectively. The project performance
also gets developed effectively with cost reduction. Thus it can be stated that with the use of
proper resource management it will become efficient to manage the customer expectations.
Hence there arises a need to manage the resources and time effectively so that it can provide
better benefits towards the clients (Westney 2017). Every component needs to be organized
properly so that it becomes easy to manage the resources effectively. The project has been
developed after analyzing all the key phase effectively.

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Cost for developing the project
The overall estimated cost is $22,296 and will be executed within 51 days. An optimized
budget and schedule will help in offering better support towards the development process. This
also ensures that all the necessary resources are managed effectively for the purpose of
organizing the project objectives (Nicholas and Steyn 2017). Cost management is considered as
an important aspect associated with the project. This helps in setting the baseline for the
estimated cost of the project. Before executing a project it is essential to estimate the costs for
ensuring that proper profit margin is obtained while developing the project.
Task Name Cost
Project development phase $22,296.00
phase 1: Plans and site $9,456.00
creating site plans $480.00
arrange council permit $480.00
Prepare site and organize materials $5,040.00
Lay foundations $2,304.00
plumbing for sewerage $768.00
pour slab $384.00
Foundations comp $0.00
Phase 2: To lock up $4,032.00

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Erect framing $360.00
lay roofing $2,048.00
brick walls and fitting door $1,624.00
lockup $0.00
Phase 3: Fit out $8,808.00
electrical cables and internal plumbing $480.00
plaster walls and internal plumbing $1,800.00
internal doors and trim $480.00
install kitchen and bathroom $1,600.00
Final fitting (electrical, plumbing) $3,968.00
paint $480.00
Construction complete $0.00
Variance and time
It is important to determine the start and finish date for completing a project. The
predecessors are also determined so that it becomes easy to interlink between the tasks (Soe and
Htike 2018). The time period is estimated in the given below table.

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Task Name Duration Start Finish Predecessors
phase 1: Plans and site 22 days Mon 2/24/20 Tue 3/24/20
Project development phase 51 days Mon 2/24/20 Mon 5/4/20
creating site plans 2 days Mon 2/24/20 Tue 2/25/20
arrange council permit 2 days Wed 2/26/20 Thu 2/27/20 3
Prepare site and organize
materials
10 days Wed 2/26/20 Tue 3/10/20 3
Lay foundations 6 days Wed 3/11/20 Wed 3/18/20 5
plumbing for sewerage 3 days Thu 3/19/20 Mon 3/23/20 6
pour slab 1 day Tue 3/24/20 Tue 3/24/20 7
Foundations comp 0 days Tue 3/24/20 Tue 3/24/20 8
Phase 2: To lock up 11 days Wed 3/25/20 Wed 4/8/20
Erect framing 3 days Wed 3/25/20 Fri 3/27/20 8
lay roofing 8 days Mon 3/30/20 Wed 4/8/20 11
brick walls and fitting door 7 days Mon 3/30/20 Tue 4/7/20 11
lockup 0 days Tue 4/7/20 Tue 4/7/20 13
Phase 3: Fit out 19 days Wed 4/8/20 Mon 5/4/20

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electrical cables and internal
plumbing
2 days Wed 4/8/20 Thu 4/9/20 13
plaster walls and internal
plumbing
5 days Fri 4/10/20 Thu 4/16/20 16
internal doors and trim 4 days Fri 4/17/20 Wed 4/22/20 17
install kitchen and bathroom 4 days Fri 4/17/20 Wed 4/22/20 17
Final fitting (electrical,
plumbing)
8 days Thu 4/23/20 Mon 5/4/20 19
paint 5 days Thu 4/23/20 Wed 4/29/20 19
Construction complete 0 days Wed 4/29/20 Wed 4/29/20 21
Gantt chart
Gantt charts are considered as an important component for project management. This
helps in scheduling the tasks effectively and also provides a clear visual representation of the
different time frames. This also offers easy accessibilities towards the users by allowing them to
easily add dependencies and predecessors (Sharon and Dori 2017). The below Gantt chart is
provided for the purpose of managing the key phases for developing the project. The flow of
phases is displayed within the Gantt chart. With the help of this Gantt chart it becomes easy to
improve the communication and also the team cohesion also reduces.

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Resources for project
The below table is used for the purpose of explaining the overall resources that are
needed for managing the project development phases. In order to optimize the overall project
development cost, the rates of resources are modified. This has the potential to enhance the
project performance (Radujković and Sjekavica 2017). The main resources that are needed for
successfully developing the project are draftsperson, electrician, plumber, concreter, carpenter,
labourer, painter, supervisor, carpenter, cabinet maker, roof tiler, brick layer and plasterer. Every
member plays a crucial role in the successful development of the project. This ensures that the
projects are executed successfully without any impacts from cost and time.
Resource Name Std. Rate
draftsperson $30.00/hr

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electrician $30.00/hr
plumber $32.00/hr
concreter $15.00/hr
carpenter $15.00/hr
labourer $18.00/hr
painter $12.00/hr
supervisor $30.00/hr
cabinet maker $18.00/hr
roof tiler $14.00/hr
bricklayer $14.00/hr
plasterer $13.00/hr
The below given list is the number of resources that are needed for executing the project
effectively. With the help of these resources it will become easy to execute the project. The
project developed has the potential to meet the key needs of the client (Pollard 2019). Thus it can
be stated that with the help of proper resource sheet it becomes easy to manage the activities.
Every phase is crucial for executing the project successfully.
Task Name Resource Names

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Project development phase
phase 1: Plans and site
creating site plans draftsperson
arrange council permit draftsperson
Prepare site and organize materials carpenter, labourer, supervisor
Lay foundations carpenter, concreter, labourer
plumbing for sewerage plumber
pour slab carpenter, concreter, labourer
Foundations comp
Phase 2: To lock up
Erect framing carpenter
lay roofing labourer, roof tiler
brick walls and fitting door bricklayer, carpenter
lockup
Phase 3: Fit out
electrical cables and internal plumbing electrician

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plaster walls and internal plumbing plasterer, plumber
internal doors and trim carpenter
install kitchen and bathroom cabinet maker, plumber
Final fitting (electrical, plumbing) electrician ,plumber
paint painter
Construction complete
Network diagram
Network diagram is referred to the graphical representation of the different activities that
are responsible for workflow within a project. It acts as a chart that is used for understanding the
flow of activities (Perrier 2018). The main reason behind using network diagrams is that it helps
in showing the interdependencies within the activities and also ensures that proper workflow are
portrayed. The below network diagram is designed for the purpose of understanding the activities
that are associated with the project development process.

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Critical path
Critical path is referred to the sequence of project network activities that are used for
adding up the longest overall duration. The shortest time possible for executing the project
effectively can be determined with the use of critical path method. For the purpose of
determining the critical path the work breakdown structure is designed along with the
dependencies with each task (Olivieri 2019). Once the dependencies are marked than the
duration for every tasks are calculated efficiently. The major benefits that are offered with the
use of critical path are that it helps in demonstrating the graphical view associated with a project.
This also ensures that the time is reduced for managing the performance (Packard 2019). The
below critical path is developed for the purpose of understanding the components effectively.

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Conclusion
Thus after evaluating the key findings it can be concluded that with the use of effective
project management tools and techniques it will become easy to manage the projects. The report
has focused on evaluating the projects successfully by optimizing the cost and resources that are
needed for creating the project. The tracking of the project is prepared with proper resources so
that it becomes effective to organize the project performance. The paper has provided a Gantt
chart showing the progress for the project along with a variance table for understanding the
overall development process. After developing the project it can be concluded that the use of
proper project management technologies helps in executing the project successfully.

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References
Chavez, R., 2018, June. Implementing Project Management Methodologies in Social
Entrepreneurship Initiatives in Developing Nations: Methodology for Training SE Project
Managers and Two Case Studies. In Global Conference on Business and Economics (GLOBE
2018) (Vol. 6).
Jamali, G. and Oveisi, M., 2016. A study on project management based on PMBOK and
PRINCE2. Modern Applied Science, 10(6), pp.142-146.
Joslin, R., 2019. Project Management Methodologies, Governance and Success: Insight from
Traditional and Transformative Research. CRC Press.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and
technology. Routledge.
Olivieri, H., Seppänen, O., Alves, T.D.C., Scala, N.M., Schiavone, V., Liu, M. and Granja, A.D.,
2019. Survey Comparing Critical Path Method, Last Planner System, and Location-Based
Techniques. Journal of Construction Engineering and Management, 145(12), p.04019077.
Packard, P.C., 2019. Critical path analysis for development administration (Vol. 7). Walter de
Gruyter GmbH & Co KG.
Perrier, N., Benbrahim, S.E. and Pellerin, R., 2018. The core processes of project control: A
network analysis. Procedia computer science, 138, pp.697-704.
Pollard, C.E., 2019. Lessons learned from client projects in an undergraduate project
management course. Journal of Information Systems Education, 23(3), p.3.

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Radujković, M. and Sjekavica, M., 2017. Project management success factors. Procedia
engineering, 196, pp.607-615.
Sharon, A. and Dori, D., 2017. Model‐Based Project‐Product Lifecycle Management and Gantt
Chart Models: A Comparative Study. Systems Engineering, 20(5), pp.447-466.
Soe, P.H. and Htike, T.M., 2018. Critical path analysis programming method without network
diagram. In MATEC Web of Conferences (Vol. 192, p. 01027). EDP Sciences.
Westney, R., 2017. Computerized Management of Multiple Small Projects: Planning, Task and
Resource Scheduling, Estimating, Design Optimization, and Project Control. Routledge.