Project Management Report on Hybrid Car Project for TSK Bearings Ltd.

This report provides a detailed analysis of a project management case study focused on TSK Bearings Ltd.'s introduction of hybrid car technology. The report covers various aspects of project management, including project objectives, scope management, assumptions, and milestones. It explores the types of projects, scope definition, and the differences between Gantt charts and the critical path method. The report also discusses project resources, work breakdown structure, investment appraisal, and cost control techniques. Furthermore, it examines the roles and responsibilities of participants, success and failure factors, and methods for project evaluation, monitoring, and control. The project's aim is to introduce hybrid car technology, aiming to produce more customer satisfaction and complete the project by March 2018 within a budget of $12 million pounds. The report emphasizes the importance of effective project management principles, cultural environment, and time management to ensure project success.

Managing
Projects

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK-1 ...........................................................................................................................................1
TASK-2............................................................................................................................................3
Project Objective ........................................................................................................................3
Scope...........................................................................................................................................4
Assumptions ...............................................................................................................................4
Project milestones ......................................................................................................................4
Resources ...................................................................................................................................4
Project Risk ................................................................................................................................8
The roles and responsibilities of participants in this project ...................................................12
Success and failure of project ..................................................................................................18
CONCLUSION .............................................................................................................................18
REFERENCES..............................................................................................................................19

INTRODUCTION
The term managing project can be used in to start, plan, execute , control and close the
project. This project is been done by a group member at a particular time in order to achieve the
gaols of business(Riol and Thuillier, 2015). The project manager will be monitor all the work of
the project that is been started and al the things that will be needs to complete the project will be
provided by project leader. In order to meet the needs of a specific project the project
management provides the knowledge, skills, tools and techniques .In the design and
manufacturing of industrial bearings for automotive industry TSK bearings Ltd deals with. By
this company new technology will be introduced in a new manufacturing site in the UK. In this
report all the activities that will be requited to control and coordinate this project that will be
introduced by the company will be discussed.
TASK-1
Types of project
In the three categorize the projects are usually categorized they are as follows-:
Change drive – In order to match up with the current environment the change is there in the
operations.
Market drive – In response to the needs of the market the new product will be produced
Crisis driven – In response to the urgent circumstances the project is been developed .For an
instance vaccines are being produced by pharmaceutical companies(Todorović and Bushuyev,
2015).
In this project that is been made the type of project is market driven as per the requirements of
market this new product is been produced by the company TSK bearings.
Scope management
In order to define and map correctly a set of processes is defined to ensure a projects
scope. In order to complete the project techniques of scope management allows the project
managers and sponsors to allocate the right amount of work. The area of scope management is
very essential for a project manager. TSK bearings will introduce a new technology that hybrid
cars .All the hardware,software, technologies, labour etc that will be needed fort his project will
be allocated. The budget that is estimate for this product is $ 12 million pounds and will be
completed by the March of 2018.The training will also be given to the members for 12
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months .This will help them to gain knowledge and also in the implementation of the new
technology the guidance and assistance will be given to them (Too and Weaver, 2014).
Difference between Gantt chart and critical path
Against the deadline Gantt chart are an easy way to schedule task and track the progress
of the projects. Using a spreadsheet a simple Gantt chart can be done .For a complex task it is
better to make use of project management software. All the activities that need to be on in the
project need to be mention before creation of a chart and the amount of time that will be taken to
finish them. One of disadvantage of Gantt chart is that task dependency to each other is not
shown and the tasks that are critical to finishing the project on time is also not shown. So, for
that critical path method can be used .A set of dependent task are there in critical path methods.
The critical path is indicated in a CPM.
The success measures for the project
The project will be successful if it will be completed on the estimated budget and time. If
the hybrid cars is launched till the March of 2018 and in the budget that is $ 12 million pounds
then it will be a successful project. Also if the satisfaction is there in the team and customers
and communication is effective then the project will be a successful.
Managing a change in a project
In any project change request are inevitable. Through the use of change control boards
successful project managers manage effectively the change. The purpose of change control
boards is to review and prioritize change that is shown during the course of the project. On a
regular basis the meeting can be held formally or informally to review requests. In order to meet
the objective of the project changes that are necessary (Walker, 2015. ).
Methods for project evaluation, monitoring and control
The performance indicators can be used for project monitoring and evaluation. The
inputs, process, outputs and impacts of development intervention can be measures. For setting
targets they are used and towards the targets the progress is measured. The formal survey can
also be used. In this from a sample of people or household the standardized information is
gathered. The actual condition can be understood from this. The other method of project
evaluation and monitoring are the logical framework, rapid appraisal method, participatory
methods and many others.
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TASK-2
Project Objective
Background
The concept of managing project is been practices since the early civilization. For the
company TSK bearings a new technology will be introduced in this report that is hybrid cars.
There are numerous advantages of using manufacturing this type of car in the company. The
hybrid cars are environment friendly cars and this type of cars will be more preferred by the
customer today as they have become more conscious towards the environment. The introduction
of this car will grab more number of customers (Svejvig and Andersen, 2015.). It is sustainable
for the environment as due to the gas mileage that is offered by this cars. The consumption of
fuels and energy will also be cut down by hybrid cars. In the air this car will release exhaust and
the emission of carbon footprint will also be less.
Aim – To introduce an technology in cars that is hybrid car for the company TSK bearings
Objective
 To introduce a hybrid cars for TSK bearings
 To provide a sustainable cars to customer
 To produce more satisfaction among customers regarding the products that is produced
by the company.
 To complete the project until march 2018 To develop this new project the estimated budget is $ million 12 pounds
Project management
The development of successful project is major objective of this project. A indispensable role is
being played by project managers in order to make this project successful. It is the responsibility
of the project manager to guide and monitor this project. Some of the principle of project
managers are as follows-:
The cultural environment – The informed management need to give a helpful cultural
environment which will help the team to do the best work. The informed management
understands the process of project management
The process principles- The polices and produces need to be in place on order to make this
project effective and efficient.
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As per the time that is being set there are different phases that is being there in this
project. The time that is being estimated for this project is last month that is till March 2018 it
should be launched. All the phases that is planning, organizing, controlling, executing,
monitoring , closing etc need to be carried during this time.
Scope
TSK bearings will introduce a new technology that hybrid cars .All the
hardware,software, technologies, labour etc that will be needed fort his project will be allocated.
The budget that is estimate for this product is $ 12 million pounds and will be completed by the
end of 2018.The training will also be given to the members for 12 months .This will help them to
gain knowledge and also in the implementation of the new technology the guidance and
assistance will be given to them
Assumptions
 The training will be given to the employees for 12 months
 The latest and advanced technology will be used in the manufacturing of this new car
 The project will be done till the march 2018
Project milestones
Milestones Deliverable Date
Project Kick start A new care hybrid cars will be
introduced
26th January 2018
The time and cost estimation The project completion date is
estimated
28th January 2018
The people, technology for
project is allocated
The advanced technology will
be used in the project
1st February 2018
Work break down structure The work will be allocated to
different department
3rd February 2018
Resources
In order to make this project a successful one both humans and materials resources are needed.
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Human resources – The man force will be required to complete this project on the estimated time
and budget. In this the training will be given to employees who will be working in this project.
Capital – The budget need to be allocated so as to make this project a successful one. The $ 12
million pounds is the estimated budget for hybrid cars .The purchasing and building of
manufacture site will be included in this.
Material goods – The latest technology will be required to implement this project.
The software licence will be required .The equipments will also be required by the staff that will
be working on this project. The equipments and technology that will be used regarding this the
decisions will be made by project manager.
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Illustration 1: Work Breakdown Structure
(Source:Work breakdown structure , 2017)

Work breakdown structure
The work is being defined by the work breakdown structure in order to develop the
product or deliverable. The hierarchical subdivision of a project is been presented in the areas of
work. The planning , cost estimation and efforts etc is been done under work break down
structure. The resources that is been allocated for this project that is humans, teams, software ,
cost and time will be presented by WBS in order to implement this project.
Product breakdown structure – In order to analyse the documents it is a tool that can be used and
the requirement of the project can be communicated. The detailed information about the
physical component of a particular product or system is been received through product
breakdown structure. It begins with final product and by the sub categorizes element of the
products it is been followed.
Investment appraisal
The current time value of money can be valued by using the concept of discount cash
flow in this project. The profit values for all future cash flows can be estimated by using the
concept of cost of capital The indication of how much the value this project will be adding to the
company TSK bearings can be made by making use of Net profit value. If NPV> O, for the firm
the investment will be adding the value so this project will be accepted. If NPV<0 the project
will not be accepted in this case as it will not be adding value for the organization. If NPV=0
then in this scenario the based on criteria such as strategic positioning the decisions will be
made as neither gain or loss will be there in this investment.
Project cost control
In this planing of project there are various cost control techniques that can be used by
project manager .They are as follows-:
The plan of project budget – With respect to the project at hand at the staring session of planning
the budget need to be made. In the project all the payment that will be made the estimated budget
that is $ 12 million pounds will be helping in this (Rakos and et.al., 2015).
Keep the track of costs – It is also important to keep the track of all actual cost. A time-based
budget will be made for this project. The track of the budget will be kept by company in each of
its phases.
Effective time management – This technique is essential with respect to project control cost. The
cost of the project will keep on increasing if the deadlines of the project is not met. To the
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members of the team the important deadlines need to be reminded by the project manager so that
at a given time period the work can be down.
Project Risk
Risk management – Through put the project life cycle it is the process through which the risk is
being identified, analysed and responded (Nicholas and Steyn, 2017).
Risk identification
 New technology, design errors
 Shortage of resources on time
 On the estimated time the project is not completed
 Change in scope
 Extension of construction period
 Failure of product in the market
 Cash flow problems.
No Risk Occurring
of risk
Project Measures
1 The poor
quality
resources
are there
and the
shortage of
staff is there
To the staff
the training
that is been
given is not
proper .The
suppliers
that are
providing
good quality
are not there
in this area
(Lientz,
2012).
Medium In the
project
among staff
there is no
united and
coordination
use to which
the project
might be
delayed
The wages
that need to
be offered
for quality
work need
to be high
This need to
be seen by
the
contractor
2 New The well- Medium Proper The The project
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technology,
design
errors
qualified
employees
are not been
hired by the
company
that can
make use of
technology
properly.
understandi
ng of
technology
is not there
in the team.
recruitment
need to be
done
properly by
the team
managers
(Mir and
Pinnington,
2014. ). The
hired
employees
need to have
skills and
talent to
make use of
latest
technology
manager
need to see
this.
3 Change in
scope
The lack of
funds is the
cause of this
High The project
can be of
poor quality
and also the
time that
will be
taken for
this project
will extend
A change in
scope is
need
The project
sponsor and
client
responsibilit
y is there.
Role of project team – The project team will be working on one or more than one phases of the
project (Griffith,Stephenson and Watson, 2014). The external consultant or in -house staff are
included in this. Throughout the entire project effectively the team will be contributing. In this
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project they will be working keeping in mind the cost and time. The project leader who is in
charge will assign the duties to all the team members.
Project life cycle – In order to introduce a new technology that is hybrid cars in the company
TSK bearings the per steps need to be followed so that none of the steps are missed in
between .The steps are as follows-:
Initialization – In this all the resources that will be need fort his project will be mentioned in the
project charter. That is technology, human resource etc.
The time and deadlines need to be set for each task so that on time this project is done without
any delays. The goals, aims , objective of the project need to be set up.
Planning – The development of management plans that is the roles and responsibly of
management team will be decided. The scope of this project will also be disused with
stakeholder and other people in the project. All the data and information is collected revealed to
this project.
Execution – By the company the quality is being checked so that the quality of this project is
excellent and without any errors.
Monitoring and controlling – In this the project is monitored and also interact change in control
is performed.
Closing
In this project is being closed and it is also checked to see it is functional as per plans or not and
then it is closed.
Project feasibility analysis
With this analysis the strength and the weakness of the project is determined and the directions
of the activities will be presented that will enhance a project and desired goals will be achieved.
On the areas of the project that is cost, time etc the nature and components of the feasibility
studies will depend. By research and analysis it driven. Some form of consultation with
stakeholders, community etc are usually involved in it. A lot of information about the project can
be provided by a thorough feasibility analysis (Fleming and Koppelman, 2016). On the three ares
that is financial issues, marker issues and technical issues feasibility analysis will be looking for
this project that is introduction of hybrid cars.
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