Project Management: Organizational Resources, Risks, and WHS

This assignment addresses various aspects of project management, starting with the identification of two key organizational resources—capital and manpower—that define project parameters like time, cost, and quality. It emphasizes the importance of adequate capital for project execution and proper allocation of manpower for maintaining project quality. The assignment then explores the project manager's role, highlighting the significance of project plans and time management. It also delves into organizational objectives, providing examples of their impact on financial success and project outcomes, and discusses the relationship between projects. Furthermore, it identifies factors for allocating human resources, such as understanding the project scope and resource dependencies. The assignment also provides examples of project management tools like real-time dashboards and task management, and discusses the importance of risk identification and management, including cost and schedule risks. Finally, it offers suggestions for identifying and managing WHS risks, and explains the difference between direct and indirect costs with examples.

Running head: QUESTIONS
Questions
Name of the Student
Name of the University
Author’s Note:

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QUESTIONS
1. Two Organizational Documents or Resources for defining Project Parameters
Two distinct and important organizational resources, which define project parameters
of time, cost, quantity and quality are capital and manpower.
i) Capital: The first and the foremost organizational resource is capital. It is a major
term for financial assets like funds that are being held within the deposit accounts as well as
distinct funds gained from the specialized financial sources (Meredith, Mantel Jr and Shafer
2017). It is even being associated with the capital assets of any particular organization, which
needs proper amounts of capital as well as finance for subsequent expansion. This capital
could be held through different financial assets and then raised from the equity or debt
financing. This particular organizational resource is majorly responsible for defining the
project parameters of time and cost. The entire cost of the project should not exceed the
budget. Moreover, if the project exceeds its deadline, there would be an increase in the
project capital.
ii) Manpower: The second important and significant organizational resource is
manpower. This manpower could be referred to as the total number of persons that is needed
for completion of a task and would be assigned to an activity. It is even recommended to
create as well as allocate the lowest number of resources to these activities (Mir and
Pinnington 2014). This specific organizational resource is required for maintaining a proper
quality of the project, after consideration of the fact that accurate people are associated with
the work.
2. Selection of One Document or Resource with process of defining Project Parameters
Amongst the above mentioned organizational resources of capital and manpower, one
of the resources that is responsible for defining project parameters in the most effective
manner is capital. Project capital should be proper and adequate, so that each and every phase

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of the project work could be eventually executed without any type of complexity (Walker
2015). This capital comprises of different assets, which could easily enhance power of one
project for performing economically useful work. The capital assets are certain business
assets that are being found in either the long term or short term portion of the balance sheet.
These capital assets could also involve cash, storage facilities, production facilities,
manufacturing equipment and cash equivalents. These are needed for ensuring that the
project parameters are well defined without much complexity. An adequate project capital is
required for being sure that the project is being executed as per planning as well as within
budget and quality (Kerzner 2017). Project capital is also responsible for getting accurate
quantity of the project outcomes.
3. Two Questions or Two Considerations of a Project Manager
A project manager comprises of several responsibilities or duties in any specific
project work. The project manager is responsible for understanding the respective progress of
the work. He or she has to consider two vital aspects in a project and these are provided in the
following paragraphs:
i) Project Plan: The first and the foremost aspect that is to be considered by the
project manager within a project is the project plan (Heagney 2016). It is a formal approved
document that is being utilized for guiding project control as well as project execution. The
major uses of this project plan include planning of documents and then taking proper
decisions, so that proper communication is facilitated within the project stakeholders. The
project manager has to check if the project is being executed as per its planning.
ii) Time Management: The second significant aspect that is to be considered by the
project manager within a project is time management. It is the major methodology, which
helps in organizing and planning the process of spending on specified activities. Adequate

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time should be given to the project, for ensuring better efficiency and productivity is gained
in the work.
4. Two Examples of Importance of Organizational Objectives and the Relationship of
One Project to Other Projects
Organizational objectives are the short term as well as medium term goals, which any
company eventually seeks in accomplishment of reaching to the strategic goals. These
objectives are responsible for playing an important part in the setting of the organizational
plan and policies as well as in the allocation of resources (Crawford 2014). A project
manager should consider these organizational objectives for ensuring that the project would
be gaining proper effectiveness and efficiency without much complexity. Two examples of
the importance of organizational objectives are as follows:
i) It is required to achieve financial success in terms of finances and sales. As a result,
the financial targets are majorly emphasized for the respective organization. One of the major
examples of such effectiveness is that there could be a chance for growth in the
organizational earnings and revenues.
ii) The second aspect that proves that it is important to keep organizational resources
is that improvement of the project outcomes (Harrison and Lock 2017). Moreover, it would
also be required for understanding if the project is being executed according to plan.
The relationship of one project to other projects is determined after clarifying about
the task, which is dependent on a collection of different task, some of which might have been
addressed in other project and the project manager could create a major task dependency for
linking these tasks in several other projects.
5. Identification of Two Factors a Project Manager should consider for allocating
Human Resources to a Project

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Two distinct factors that a project manager should consider to allocate human
resources to a project are as follows:
i) Understanding the Scope: The first and the foremost factor that a project manager
should consider for allocation of human resources to a project is understanding the scope. It is
required for understanding the expected outcome of the work and hence the type of HR
would be clear for the project manager (Schwalbe 2015). It would reduce chances of lost
scope and project goals and functionalities.
ii) Knowing about Resource Dependencies: The second important and significant
factor that a project manager should consider for allocation of human resources to a project is
knowing about the resource dependencies. One of the major methods of allocating such
resources is by not having to allocate them. It even includes proper planning of the work.
6. Two Examples of Project Management Tools and Explanation of its Contribution to
Project Management
Two appropriate examples of project management tools with proper explanation of
their contributions to the project management are as follows:
i) Real Time Dashboards: The first and the foremost example of a project
management tool is real time dashboards. This particular tool of PM is responsible for
highlighting the fact if the project team and outcome is proper and as per planning or not
(Too and Weaver 2014). The graphs can automatically update about the project in real time
and would also track the project budget and team.
ii) Task Management: The second important and significant example of a project
management tool is task management. It is required for empowering the entire project team
with easier management of tasks for every project. The project manager could check the tasks
required for understanding the personal task lists.

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7. Identification of Two Risks to a Project with Suggestion for Controlling the Risks
Risks are extremely common for a project and these should be eradicated on time for
ensuring that the project would be obtaining proper results. The staff members are needed to
be trained properly in a high risk working role and this training should be given in a specific
time frame. Two risks to a project with its mitigation techniques are as follows:
i) Cost Risk: The first type of risk that is common to a project is a cost risk, which
mainly occurs due to the poor cost estimating accuracy as well as scope creep (Marchewka
2016). This particular risk can be controlled by preparing setbacks of the project and saving
time and money.
ii) Schedule Risk: In this type of risk, the deadline is exceeded, since either changes
are made in the plan or activities are not completed as per expectation. This particular risk
can be controlled by insertion of regular activities within project plan for reviewing
estimations, assumptions and risks.
8. Two Suggestions of Identification and Management of WHS Risk in a Project
Two suggestions for identification and management of WHS risks in a project are as
follows:
i) The project manager could inspect the workplace and have a check about the
process of work tasks being performed, so that it becomes easier for them to understand if the
workplace is safe and secured for all the project team members (Kerzner 2018). As a result,
analysis of the records of work place incidents as well as workers’ complaints.
ii) The second suggestion is to consult with the respective workers regarding health
and safety issues for encountering in completing the work. Moreover, reviewing of any

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information as well as advice regarding these hazards that are associated to the specified
work for information to be provided by the project suppliers.
9. Explanation of Difference between Direct and Indirect Costs with Examples
The major difference within direct costs and indirect costs would be that only direct
costs could be traced to certain specified cost objects. These direct costs are also referred to
as variable costs, on the other hand, the indirect costs are more likely to be either period costs
or fixed costs (Kerzner 2017). Moreover, the direct costs are being utilized for compiling the
cost of anything and the indirect costs would not be assigned to the cost analysis. It could be
extremely difficult for deriving a proper cost effective methodology for different indirect
costs and the final result would be considered as the major part of production overhead or
corporate overhead. An example of direct cost is direct labour and an example of indirect
costs is quality control cost.

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References
Crawford, J.K., 2014. Project management maturity model. Auerbach Publications.
Harrison, F. and Lock, D., 2017. Advanced project management: a structured approach.
Routledge.
Heagney, J., 2016. Fundamentals of project management. Amacom.
Hornstein, H.A., 2015. The integration of project management and organizational change
management is now a necessity. International Journal of Project Management, 33(2),
pp.291-298.
Kerzner, H., 2017. Project management: a systems approach to planning, scheduling, and
controlling. John Wiley & Sons.
Kerzner, H., 2018. Project management best practices: Achieving global excellence. John
Wiley & Sons.
Marchewka, J.T., 2016. Information technology project management: Providing measurable
organizational value. John Wiley & Sons.
Meredith, J.R., Mantel Jr, S.J. and Shafer, S.M., 2017. Project management: a managerial
approach. John Wiley & Sons.
Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking
project management performance and project success. International journal of project
management, 32(2), pp.202-217.
Schwalbe, K., 2015. Information technology project management. Cengage Learning.

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Too, E.G. and Weaver, P., 2014. The management of project management: A conceptual
framework for project governance. International Journal of Project Management, 32(8),
pp.1382-1394.
Walker, A., 2015. Project management in construction. John Wiley & Sons.