Business Project Management: Methods, Risks, and Quality Control

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Managing Business Project
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Table of Contents
Introduction...............................................................................................................................3
Task 1.........................................................................................................................................4
Task 2.........................................................................................................................................8
Conclusion...............................................................................................................................14
Reference list..........................................................................................................................15
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Introduction
Project management is the application of the knowledge processes and tools that are
required of the attainment of project objectives. The study will demonstrate an
understanding on the major benefits and limitations that are required for the smooth
formulation of a business project. It also outlines the various methods that are outlined
for the successful understanding of the project concerns. Therefore, with the initiation of
the project management cycle, the study will provide an authentic understanding of the
limitations and risks related to project management. Hence, it will clearly state the
various components that are taken into consideration while implementing a successful
business project.
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Task 1
Outline the characteristics of any project.
The significance of a project lies in the integration of having a start point and an end. A
project is generally temporary in nature comprises of a number of relevant
characteristics. Therefore, the characteristic of a project revolves around the integration
of a clear ad-hoc life cycle (Lock, 2017). A project is designed by building blocks and is
significant for the formulation of organizational strategies. A project provides the
utilization of strategies and philosophy for the efficient management of change. A project
comprises of a number of managerial functions that is helpful in motivating and directing
the project management. A project constitutes of some integral characteristics such as
Resources, scope, time and quality. A successful project plan is based on the integration
of these successful characteristics that makes it successful.
Define the Scope Statement for a project. Why is it important to have such a
statement?
A successful project comprises of a ‘Scope Statement’ that is useful for outlining the
project deliverables and the identification of its success factors, assumptions and
constraints (Pheng, 2018). The scope statement of a project defines the significant
objectives that measure the success rate of a project. The significance of the project
scope statement lies on having an impact on the time and constraint that is undertaken to
complete a project. Therefore, a scope statement is important for the project as it outlines
all the areas that are taken into consideration for the execution of a project. It also
requires the agreement of the stakeholders and provides analysis on the information and
ideas required for a project.
Using the information below, plot out a full project Gantt chart and identify the
critical path. How many days does it take to complete the project?
A Gantt chart is beneficial as it outlines the number of time that is taken in the
completion of a business project (Silva et al., 2016). It comprises of horizontal lines
indicating the time taken for the completion of a work. A work-breakdown structure is an
important component of a Gantt chart as it gives out a list of activities that are to be
undertaken for the completion of a project.
Activities Start Date Duration End Date
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a 1/16/2019 2 1/18/2019
b 1/18/2019 3 1/21/2019
c 1/21/2019 1 1/22/2019
d 1/22/2019 1 1/23/2019
e 1/23/2019 5 1/28/2019
f 1/28/2019 8 2/5/2019
Table 1: Work Breakdown Structure
(Source: Created by Learner)
a
b
c
d
e
f
1/16 1/21 1/26 1/31 2/5 2/10
Figure 1: Gantt chart for a full project
(Source: Created by Learner)
Critical Path
Activities Precedence Duration
a - 2
b a 3
c a 1
d b ,c 1
e c 5
f d, c 8
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a, 2
b, 3 d, 1
c, 1
e, 5
f, 8
END0
2
2
2 5 5 6
1 6
1 9
1
Activity Network Diagram
a - b – d = 2 + 5 + 6 = 13 days
a - c – e = 2 + 1 + 6 = 9 days
a - c – f = 2 + 1 + 9 = 12 days
Critical path – a - b - d
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What would you need to consider when developing a project budget?
The project budget is termed as an integral tool that is used by the project managers to
calculate the total costs that are associated with the project ( Walker, 2015). There are
significant parameters that are important while undertaking a successful project budget.
The project manager makes the utilization of the budget to determine the expenditure,
profit and loss incurred in the initiation of the business project. These include the use of
cost budgeting and the utilization of the estimation of the costs. Setting up a fixed
budget, control of costs is also integral to the development of successful budget. The
resources that are used are taken into perspective while developing important procedures
for the budget implementation and planning process.
Outline the various responses to risk that may be taken within project management.
The implementation of a successful business project is subjected risks that might hamper
the growth of the project. There are significant risk management responses and strategies
that are undertaken by the company in the formulation of the project. These responses
revolve around the methods that could be utilized in the reduction and elimination of
risks for the project. The various responses are AVOID, MITIGATE and TRANSFER.
With the use of these project management and the risk responses, the project manager
assesses the qualitative and quantitative risks throughout the business project ( Ittner,
2016). The risks strategies could be used for comprehending both the threats and
opportunities related to project.
What quality methods (project evaluation, monitoring and control) would you
introduce to ensure a project is completed successfully?
In order to ensure the successful implementation of a project, it is essential to make sure
of the quality that is present for the development of the project establishment. In order
to cater to the quality of the project, it is essential to use project evaluation, control and
monitoring for the growth of the business. the project manager could make the use of the
six sigma and lean implementation for the successful growth of the business project and
part of the project (Basu, 2017). Therefore, the better management of a project is done
through the initiation of these techniques. For extensive monitoring and control of the
project, the individuals are invested with the idea of catering to the growth of the
business.
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Task 2
Introduction
In the following study, several aspects have been fulfilled in the context of Hotel
Communications Ltd. The organisation is a successful IT enterprise, it has been
approached by City Towers to create an IT project for them, and the senior management
wishes to reassured that the same performance by enterprise as in past will be
implemented this future projects as well. In this reports, the abilities of the employees,
project manager and resources within the context City Towers will be evaluated
Skills and Competencies of Project Team
There are several skills, which an IT professional should possess in the field of
Information Technology within Hotel Communications Ltd, a number of their skills and
competencies have been enlisted here down below:
Technological Knowledge - An IT professional should have an updated knowledge of
security devices and software such as Oracle, KU VPN, ArcGIS, Autodesk, Maple,
ERDAS Imagine, ChemOffice Ultra and others (Kunapuli and Pentareddy, 2016). All
these software assist in increasing the efficiency of the employees, they also help in
increasing the management of work and allocating the process in an optimized manner.
Providing Solutions – The IT employee should have both hardware and software
knowledge so that in scenarios when there is any form of problems arising for the
employees. The IT professional is able to aid and find solutions to digital dilemmas so
that there is no halt in the work procedures.
Systems Management – Operating as several forms of devices and optimizing them is
the reasonability an IT professional, he must have cohesive and roundabout knowledge
about what the purpose of each system is. In accordance with the purpose of each
system, they are optimized with appropriate software and hardware so that they can full
fill their organisational goals (Tanenbaum, 2016). This form of management is specially
done when there are several hierarchies within an enterprise such as Hotel
Communications Ltd and the higher managements require a more power system within
an organisation.
Project Management Process
The project management process consists of several areas, which are project plans,
project management methods, information exchange, resource management and project
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implementation. All of these areas will be highlighted down below for senior
management and in areas, the team excels so that there is optimal reassurance:
Project plans – As previous seen in the case of City Towers, several provisions had been
made through the IT facilities to plan aspects such as marketing, booking, TV
installation, radio installation, CCTV installation and others. All these aspects show that
there is a high degree of planning was involved and implemented. In addition to this,
planning of a project involves having a holistic and overall viewpoint through which a
project is planned where the team members, systems, support and other aspects are
planned out and specified (Eastman, 2018).
Project management methods – A project is managed through several methods,
sometimes to obtain optimal results a mix of several methods are implemented:
 Management of Portfolio - Through this method the employee in team are sub
divided into parts based on their competency. The more diversified the portfolio
of an employee is the higher responsibility he is given. Management of Value – Through this method, the amount value which
employees bring to the enterprise and the amount of value, which can be provided
to clients considered, and work is divided. Balanced Scorecard – In this process, there are four aspects: Finance, Internal
Processes, Learning & Growth, and Customer. It is a strategic tool by which the
management keep a track of the level of progress, which is being made by the
staff within a period. Management of Risks – Through management is done through four processes
identification of risk, assessment of risk, risk control, review of risk. Through
these four processes, the risks are known and dealt with.
Information exchange - There must be devices and channels of communication created
through which information can be exchanged amongst the employees (Mason, 2017). For
this purposes telephones, communication applications, and other facilities must be made
available so that there is easily access to exchange crucial information exchange.
Resource management - Resources of the enterprise must be maximized through more
financial investment so that there are more systems with the organisation. Old products
must be scraped so that there are least amounts of cluttering.
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Project implementation – To implement the project well there has to be a constant
amount of vigilance and performance review must be made so as to know if there is the
project is being the correct direction if and if the employees are being productive
(Katzenbach and Smith, 2015).
Project Concerns
The concerns for the initiation of the project lie in the proper and effective management
of the installation of the IT infrastructure (Heldman, 2018). The risks and the errors that
are attained due to the integration processes that are involved for the better
understanding of the processes involved in the success of the business. Therefore, as a
project manager and for the installation of viable IT software, it is important for the
company to comprehend the better quality and production of the software for City
Towers. Therefore, the project manager should be viable in making important
conclusions for the stakeholders. The project concerns also revolve around the
segregation of responsibilities that are significant for the growth of the business.
Therefore, with the better and effective understanding of the business, the project
manager should initiate the establishment of project objectives for the growth of the
business and the company. Therefore, with an understanding of these vital elements the
project manager would meet the quality standards of the project. This will also have an
impact on the growth of the business. Hence, the project manager will ensure the better
understanding of the areas and assess the vital risks that are interlinked with the
installation of the tower for the growth of the company.
Project Life Cycle stages
There are four stages to the management of a project life cycle; these phases are
Initiation, Planning, Execution and Closure (Kerzner and Kerzner, 2017). These four
stages are followed in the case of Hotel Communications Ltd as well and all of these four
aspects have been highlighted down below:
Initiation – In the preliminary stages of Project Life Cycle, a Business Case must be
developed where the issues of the enterprise are identified. Along with this, a feasible
study must be conduct to know what solutions are present and how the situation can be
handled.
Planning – In this stage, several aspects are considered. Characteristics such as financial
input, level of risk, established channel of communication, procurement methods and
other aspects are considered here in this stage and foresighted thinking is tried to be
applied. Therefore, there is a full roundabout plan created.
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Execution – When executing a plan, several factors are considered so that the
performance is implemented well. These factors include management of time, cost
management, quality check, risk management, issue management and others
Closure – Finally, in this stage, the project wraps up and feedback is received for the
client on how well the project was implemented. Exchange of payment is performed and
the project completes.
Project Processes
The project manager will take into consideration concrete steps to ensure the success of
Hotel Communications in the installation of IT software. Therefore, the project manager
will take into consideration the various steps to ensure the better understanding of the
business and the company. In order to convey an effective knowledge on the installation
of the IT software, it is essential to take into consideration all the processes that ensure
the growth of the project aims and objectives. Therefore, in order to enumerate the
course of action, it is vital to comprehend the areas that pertain to the management of the
areas. The outline of the various portals would be given to the various team member sto
cater to the growth of the business. Therefore, the various methods that would be used by
the project manager comprise of team management, control, integration and effective
communication. This would channel the growth of the business and also cater to the
improvement in the business company. The execution of the five integral phases of the
project will influence the better understanding of the business. Therefore, in order to
fulfil the installation of the IT software, the company will build in a better and effective
understanding of these important project management issues.
Leadership Strategies
There are several forms of leadership strategies, which can be implemented by a Project
Manager in the context of Hotel Communications Ltd. Some of the most popular
leadership strategies have been enlisted here down below:
Autocratic Leadership – In this form of leadership only the leader makes all decisions
and does not take the help of others (Patrick, 2018).
Example – in times, when task allocation is required to be made and chaos is to be
minimized, in those circumstances, this method is to be implemented.
Democratic Leadership – In this form of leadership, the leader is open to taking
suggestions for employees and the employees to operate as a team (Sparrow, 2017).
Example - in situations where the direction of the enterprise is needed to be determined,
the employee can take suggestions.
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