Project Management Plan Report: Tolerances, Controls, and Risks

This report presents a project management plan, focusing on tolerances, project board controls, and risk management within the context of a Microsoft Office suite skill development workshop for schools. The report details the application of tolerances to schedule, budget, and risk, emphasizing the importance of setting boundaries to keep projects on track. It outlines areas where tolerances can be applied, including schedule, budget, risk, quality, stakeholder performance, and project output, providing specific examples. The project board controls, including budget, schedule, and performance control, are also described. The report also covers risk management, identifying potential risks and strategies for managing them. Overall, the report provides a comprehensive overview of project management principles and their practical application within the context of the workshop project.

Running Head: PROJECT MANAGEMENT
Project Management
Name of the Student
Name of the University

1PROJECT MANAGEMENT
10. Progress / Control
10.1 Tolerances
10.1.1 Tolerances and their Usage
Tolerances are certain boundaries that are being set for a project so that it does not go out
of control of the project management team. Tolerances are generally applied on various project
attributes like schedule, budget, risks, quality and others that need to be fulfilled i.e. the target of
the team is to conduct the project such that it remains within the boundaries set as tolerance
limits.
10.1.2 Areas where Tolerances can be Applied
There are several areas where tolerances can be applied in a project that are as follows.
Schedule – In this project, the total duration estimated is around 35 weeks. However,
some of the major activities in the project may get delayed due to unforeseen incidents. As a
result, an additional two weeks of tolerance period is allowed so that the additional time taken
can be recovered while executing the project.
Budget – Similar to schedule, there are also certain unforeseen incidents that may occur
during the project. As a result, some additional costs are encountered resulting project over-
budget. In order to cover for these additional costs in this project, +10% budget tolerance is
allowed.
Risk – The risk tolerance for the project includes less than three critical risks that may
occur during the course of the entire project.

2PROJECT MANAGEMENT
Quality – The quality tolerance includes suitable amount of lessons to the children
attending the workshop. There are no tolerances allowed for this aspect of the project as there
will be no compromise with the quality of the project.
Stakeholder Performance – For ensuring the success of the project, stakeholder
performances are extremely important. Again, for determining whether stakeholder
performances are up to the mark, regular monitoring is required. For this project, it is required
for stakeholders to submit daily work progress reports for monitoring purposes and the tolerance
allowed is one report in every two days at maximum.
Project Output – The tolerance allowed for the project output is at least 70% marks
scored by the students in the evaluation tests conducted in after the end of workshop.
10.2 Project Board Controls
10.2.1 Implementation of Control
The project board implements several types of control that includes the following.
Budget Control – This is done by setting strict and specific budgets for individual work
packages so that there is no unnecessary expenses in the project.
Schedule Control – This is done by developing a work breakdown structure and
allocating specific amount of time to each work package.
Performance Control – This is done by specifying the work duties to each of the project
team members and monitoring their performances throughout the course of the project.

3PROJECT MANAGEMENT
10.2.2 Implementation of Control in the Selected Project
The same control procedure is to be applied in this project. The work breakdown
structure can be developed to assign time and budget to each work package and based on work
requirements, the duties can be assigned to the project team members.