Project Management Plan Analysis: Widgets 'R Us Case Study

This report provides an analysis of the project management plan for Widgets 'R Us (WRU), a medium-sized firm struggling to adapt to a dynamic market. The report examines key aspects of the plan, including project quality management, focusing on cost considerations, scheduling, and benchmarking for monitoring, and procurement management, detailing different contract types (Fixed Price, Cost-Reimbursable, and Time and Material) and the make-or-buy analysis. The analysis also explores the factors influencing the make-or-buy decisions and how procurement management can improve profitability, streamline processes, and reduce costs. The report references several academic sources to support its findings, and provides a comprehensive overview of the challenges and opportunities faced by WRU in its project management approach.

Project Management
Plan

Contents
11 project quality management........................................................................................................1
a..............................................................................................................................................1
b.c and d..................................................................................................................................1
13. Project procurement Management.............................................................................................1
a..............................................................................................................................................1
b..............................................................................................................................................2
c..............................................................................................................................................2
REFERENCES................................................................................................................................3

11 project quality management
a.
During planning stage, quality items means to referring the cost, how much cost is
needed. Also, scheduling is consider under this stage. For executing, all the departmental staff
need to be meet the expectation of departmental staff so that they review the overall project.
Further, for monitoring, benchmarking tool is established in order to set the standards (Peña and
Muñoz, 2020). Lastly, for closure, make sure that they all meet the expectation of external end
user within WRU.
b.c and d
Cost of quality: this is used to create the conforming the products are meet with the
better quality and investment in good quality. Such that it includes internal COPQ and External
COPQ
Overall Equipment Effectiveness: It is an important aspect that helps to measure the
productivity and efficiency. This, will help to measure the quality of overall project.
Supplier Quality Metrics: This is another measurement that will also creates a huge
impact upon the quality cost used by WRU. Such that this is used to track i.e. supplier defect
rate which means the percentage of material from a suppliers and not meeting the quality
specifications (Albuquerque, Torres and Berssaneti, 2020). Further, supplier chargebacks which
means that total charged for cost of non- conforming materials. Through this, it will be easy for
the WRU to deliver the best quality of products and also meet the define aim and objectives.
13. Project procurement Management
a.
there are three main types of contract used in the project procurement management by
WRU such that
Fixed Price Contract: This is the foremost requirement of the project manager because
it is helpful when both parties understand the scope and design their ways of working properly.
Under this, project manager may also use firm fixed price contract and fixed price plus incentive
fee contract that help to deliver the project in better manner (Pu and et.al., 2020).
Cost- Reimbursable contract: Another contract in which buyer is pay for the cost
which is incurred by seller to complete the work and they can use it in three different form such
that Cost plus fixed fee, Cost plus award fee and Cost plus incentive fee
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Time and Material contracts: It is the combination of fixed price and cost
reimbursable contracts which means time refer to buyer pay seller with regards too cost of
labour and material means all non- manpower expenses.
b.
Make and buy analysis is the general project management technique which is used to
determine the particular type of work which is attain by the project team. Or else, it is purchase
from external sources. Through this technique, project manager also track the performance of
each project task.
c.
Through procurement management plan, a company is easily improve its profitability
and it is also help to streamline the process, reduce the raw material prices and cost. Overall,
using this method, the company will easily enhance their overall productivity (Saengchai,
Joemsittiprasert and Jermsittiparsert, 2020). During this stage, project manager should make sure
that there are different factor which also influence make and buy decision i.e. volume of
production, cost analysis etc.
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REFERENCES
Books and Journals
Peña, A. R. and Muñoz, F.A., 2020. Soft Skills as a Critical Success Factor in Project
Management. In Handbook of Research on Project Management Strategies and Tools
for Organizational Success (pp. 376-392). IGI Global.
Albuquerque, F., Torres, A. S. and Berssaneti, F. T., 2020. Lean product development and agile
project management in the construction industry. Revista de Gestão.
Pu, W. and et.al., 2020. PPP project procurement model selection in China: does it
matter?. Construction Management and Economics. 38(2). pp.126-139.
Saengchai, S., Joemsittiprasert, W. and Jermsittiparsert, K., 2020. Human Resource
Development and Success of Engineering Procurement Construction Project: What
Role Engineering Education and Human Resource Competency can play?. TEST
Engineering & Management. 82. pp.3476-3487.
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