Project Development and Finance Report: Management Overview

This report provides a detailed overview of project development and finance, covering essential aspects of project management. It begins by defining project scope, emphasizing the importance of establishing clear objectives and outlining resources. The report then delves into the processes of planning, organizing, and controlling, highlighting the key activities involved in each. Planning involves developing strategies and setting objectives, while organizing focuses on identifying and assigning tasks. Controlling ensures that project performance aligns with pre-defined goals. Furthermore, the report explores the crucial role of the project manager, emphasizing responsibilities such as resource planning, team motivation, and time management. The project manager is central to the project's success, ensuring that the project is completed on time. The report concludes by reinforcing the importance of effective project management for successful outcomes.

Running head: PROJECT DEVELOPMENT AND FINANCE
PROJECT DEVELOPMENT AND FINANCE
Name of the Student
Name of the University
Author Note

2PROJECT DEVELOPMENT AND FINANCE
Table of Contents
Introduction................................................................................................................................3
Part 1..........................................................................................................................................3
Scope......................................................................................................................................3
Planning..................................................................................................................................4
Organizing..............................................................................................................................4
Controlling.............................................................................................................................5
Part 2..........................................................................................................................................6
Role of project manager.........................................................................................................6
Conclusion..................................................................................................................................7
References..................................................................................................................................8

3PROJECT DEVELOPMENT AND FINANCE
Introduction
The process of management is as old as the concept of human civilization. When
people started to work together in groups, they required the concept of management to
execute the process or the work. It can be stated that one of the smallest group in the society
also needs organizational management activity. In the last Five decades, management can be
considered as a discipline that has attracted many practitioners and academicians largely. In
the process of project management, the role of the project manager is very important
(Fleming, Q. W & Koppelman, 2016). The process of project management can have many
parts involved into its framework and it is the role of the project manager to set and look into
the proper working of the concepts. The project development can be applied to any discipline
ranging from software development process to building construction projects (Too, E. G &
Weaver, 2014).
The main aim of the report is to focus on the concept of project management taking
into consideration the different aspects, which are related to it. The techniques, which can be
applied to the concept for the proper working and the reaching a pre-defined goal, can be one
of the factors to look into in the report. A process of project management cannot be
completed without the role of the project manager. The project manager’s activity are
considered taking into account the time framework from the start of the project to the
completion and delivery of the project.
Part 1
Scope
In order to define the scope of a project it is very much necessary to establish the
objectives of the project. The objective of the project may include the process of development
of new product, creating a new service or create a new software. There can be numerous type

4PROJECT DEVELOPMENT AND FINANCE
of objective, which can be central to the given project, and it is role of the project manager to
look into the concept that the contractors and the team deliver the work, which is expected
from their end. (Newton, Greenberg & See, 2017).
The resources and the work that go into the concept of creation of service or product
are essential things that form the scope of the project. The project scope directly focus on the
concept of outlining the objectives of the project and the project goals, which have to be
reached in order to achieve a satisfactory result or outcome of the project. In order to define
the scope of the project it is the role of the project manager to do so. It should be done taking
into consideration all the aspects such as planning, budget and the time constraints relating to
the project. The following points gives a basic idea about the steps that should be followed in
order to construct a good project management scope:
 Goals
 Project objectives
 Sub phases
 Resources
 Schedule
 Budget
 Tasks
Taking into consideration the role of project manager the definition of the scope of the
project and the understanding of the project will give focus and a purpose sense when the
actual execution of the project is done. The concept of managing the project can be achieved
from the means of creating a good project scope. It directly enables the timeline of the work,
goal setting and the key aspect of reporting the progress of the project to the senior
management and the stakeholders of the project.

5PROJECT DEVELOPMENT AND FINANCE
Planning
The process of planning can be considered one of the most fundamental processes
relating to project management. Taking into consideration if a team is working on a project
they should have an idea on what they have to do, what activities they have to perform. The
main concept that can be applied to the process of planning are the how and when things are
to be done within the framework of the project. Planning can be considered to a primary role,
which directly provides an impact on the overall working of the project. It is mainly deciding
the course of action that should be implemented to reach the desired goal of the project. The
process thus involves the following aspects:
 Development of the course of action and strategies that are to be followed for the
achievement of the objectives relating to the project.
 Determination of the short range and long-range objectives.
 Formulation of rules, policies and procedures for the basic implementation of the plans
and strategy.
The top management in any organization sets the organizational objectives. This is
mainly set according to the basic mission and purpose, business forecasting, potential, and
available resources. These objectives can be termed as long and short range. In order to
execute the process efficiently the processes can be divided into parts such as departments,
divisions, individual goal and sections. Procedures, rules and policies provide the basic
framework of decision-making. The project manager mainly performs all these activities. In
some of the organization especially small ones and traditionally managed planning is often
done systematically and deliberately. The concept of planning thus can be stated to be done in
every organization by all the managers at different level relating to the hierarchy.

6PROJECT DEVELOPMENT AND FINANCE
Organizing
Organizing mainly involve the identification of the activities which is required for the
achievement of the objectives of the enterprise and plan implementation. Every manager have
to decide what activity has to be performed within his or her team or sections in order to
reach the goal of the project. After the task is identified, the project manager has to take a
decision to group similar and identical tasks in order to proceed with the job, assign these
tasks to individual or groups and complete the task. The concept of organizing thus involve
the following activities:
 Activity identification for achieving objective and implementation of the plans.
 The jobs should be assigned to employee according to the specialization of the person. In
most of the cases it is seen that a project fail due to lack of expert people involved in a
task.
 Authority delegation, which enables the employee to perform their jobs and to command
for the resources, which are needed for performance.
 Network establishment for the purpose of relationship coordination (Bucero & Englund,
2015).
The process, which is involved in the organizing, can help in the concept of structuring of
the organization. It can consist of accompanying task, organizational position and
responsibility. Organization and thus be stated as a process if integrating and combing
physical, human and financial resources in a concept of productive interrelationship with
a motive of achieving enterprise objectives.
Controlling
Controlling can be considered as a function that ensures that the departments,
divisions and sections are consistent with their performance relating to the pre-defined goals

7PROJECT DEVELOPMENT AND FINANCE
and objectives of the project. The deviation from the plans and objectives have to be
investigated and identified and corrective measures should be taken. This provides a feedback
to the managers and other processes of the management including the organizing, staffing,
planning, directing and the concept of coordinating. These aspects are periodically monitored
and reviewed and modification is done when it necessary.
Controlling thus implies that the goals, objectives and standard of the performance
exists and are very much clear to the employee and the superiors. It can also imply a dynamic
and flexible organization, which can provide changes in the aspect of plans, objectives,
policies, strategy, organizational design, practices and policies (Chih & Zwikael, 2015). In
this context, it can be stated that it is not very much uncommon that the employee fail to
reach the expectation due to the shortcoming and defects in any of one of the dimensions,
which are related to management. Controlling aspect may involve the following conditions:
 Identification of the deviations and the factor of deviations from the goal of the project.
 Measurement of the factor of performance against the goals, which are predefined.
 Corrective action to rectify the action (Too, E. G & Weaver, 2014).
It can be pointed out that although the process of project management can be
discussed in the field of organizing, sequence planning, directing, controlling and
coordinating they may not perform in a particular sequential order. The process of
management is a process, which is integral, and it is very much difficult to put the task
related to the concept in a separate box. The functions, which are related to the management,
can be considered to be coalesce and it can be sometimes be very much difficult to separate
one task from another or perform one task without performing another task. The concept of
controlling can affect the overall working of a project (Joslin & Müller, 2015).

8PROJECT DEVELOPMENT AND FINANCE
Part 2
Role of Project Manager
The project manager is responsible for the overall working of the project. In a
construction project there are mainly vital aspects which are involved in it. The funding of the
project manager is mainly given by three persons mainly EWB, stakeholders, robogals and
engage. These people usually work close to each other in other to achieve and reach the
desired goal of the project. They are also responsible for the team recruitment and the aspect
of managing the project, which mainly involve task related to team, schedule and budget.
Whatever may be the size of a project there would always be a need of a project manager.
The project manager can be considered as an integral part of any kind of any organization.
The concept can be applied to a small organization having one project and a handful of
people who are guided by project manager to IT multinational companies who employ highly
specialized project manager (Pinto, 2015). The concept of project management can be
considered to be indispensable relating to successful business and the owner of the business
need leader with right amount of skills how to tackle challenges and ensure successful
completion of a project. The main role of the project manager are stated below:
 Resource and activity planning: Planning can be considered as a vital instrument in
order to meet the deadline of a project and most of project failure occur due to poor
planning. The basic aspect, which can be related in this context, is that a good project
manager can define the project available resources and the scope. A good project manager
should have the understanding of how set the time estimation of a work and evaluate the
performance of the team. The project manager creates a concise and clear plan to monitor
and execute its progress. A project can be sometimes very much unpredictable which
result in necessary adjustment from the end of the project manager.

9PROJECT DEVELOPMENT AND FINANCE
 Motivating and organizing a project team: A good project manager never gets the team
bogged down with elaborate spreadsheets, whiteboards and long checklists. Instead of
this, they try to put the team in center and at front. The project manager should be also
dependent on the working of workers. The relation between a project manager and
workers effect the overall working of the project and the final product of the project. In
order to make their team reach their full potential they develop a straightforward and clear
plan. The project manager cut the bureaucracy and make the team steer down into a clear
path, which lead to success.
 Time management control: Clients usually make a judgment on the project by the
success or the failure relating to the delivery of the project on time. Therefore, it can be
stated that meeting the deadline is a non-negotiable concept. A good project should know
how to set a deadline, which is realistic. They should take into consideration the
following aspects.
1. Sequence activity
2. Define activity
3. Estimate the activity duration
4. Maintain a schedule
5. Develop a schedule (Heagney, 2016).
 Developing the budget and cost estimation: Project manager should have an idea what
should be done to keep the project within the budget. It should be taken into consideration
that even though a project is delivered on time with the entire requirement can be
considered as a failure if it is not within the budget. The project manager should
frequently review the budget and according to it plan how the over budget constraint can
be avoided. The cost constraint is very much important in construction project as
comparing it with other projects the cost factor is more.

10PROJECT DEVELOPMENT AND FINANCE
 Customer satisfaction: In any project if the product satisfies the client, the project is
successful. One of the important role of the project manager is to ensure minimization of
uncertainty factors. Unwanted surprises should be omitted and involvement with the
client should be done as much as possible. A good project manager should know how to
maintain effective communication and keep the client of the company up to date.
 Managing and analyzing project risk: If a project is bigger in size or can be considered
to be complex there can be pitfalls and hurdles involved in it that were not a part of the
initial planning. It is the role of the project manager to identity, evaluate the potential risk
factors, and remove them before the project operations are started. The risk factors play a
dominating role, which can impact the project.
 Progress monitoring: In the initial start of the project, the team and the project managers
should have a clear idea and hopes so that they would be able to produce desired result.
However, it can be stated in this context that in order to reach the project goal there can
be many problem, which can be faced, and they should have a clear idea how to eliminate
those problem. There can be situation where the project does not go according to the plan,
in such scenario the project manager need to analyze and monitor the situation and take
appropriate steps to bring the project back on track (Kerzner & Kerzner, 2017).
Conclusion
The report can be concluded on a note that the process of project management can be
applied to any field and it plays a dominating role in that field. The concept involves many
sub parts, which are involved which aim at breaking down a large project into smaller part so
that the execution can be done in a proper way. The role of the project manager can be
considered very much important as they look after the overall working of the project and set
project objectives. After the project managers, sets the project objectives the workers work
following those objectives. Each of the stages which are related to the project management

11PROJECT DEVELOPMENT AND FINANCE
are important and they play an independent role and should be followed in a manner which
can be sequence or non-sequence manner according to the need of the project. Different
project requires different types of management skills that should be taken into consideration
that the planning concept is done according to the need of the project. in recent times the
concept of project management is involved into almost all types of projects in order to work
properly and achieve the goal of the project.

12PROJECT DEVELOPMENT AND FINANCE
References
Bucero, A., & Englund, R. L. (2015, October). Project sponsorship: Achieving management
commitment for project success. Project Management Institute.
Chih, Y. Y., & Zwikael, O. (2015). Project benefit management: A conceptual framework of
target benefit formulation. International Journal of Project Management, 33(2), 352-
362.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project management.
Project Management Institute.
Heagney, J. (2016). Fundamentals of project management. AMACOM Div American Mgmt
Assn.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology
and project success in different project governance contexts. International Journal of
Project Management, 33(6), 1377-1392.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Newton, V., Greenberg, A., & See, J. (2017, July). Project Management Implications and
Implementation Roadmap of Human Readiness Levels. In International Conference
on HCI in Business, Government, and Organizations (pp. 99-111). Springer, Cham.
Pinto, J. K. (2015). Project management: achieving competitive advantage. Prentice Hall.
Riol, H., & Thuillier, D. (2015). Project management for academic research projects:
balancing structure and flexibility. International Journal of Project Organisation and
Management, 7(3), 251-269.