Detailed Project Scorecard Analysis for Kingston-Bryce Limited Project

This report provides a detailed analysis of a project scorecard for Kingston-Bryce Limited, focusing on the acquisition of competitors. The scorecard evaluates the project's timeline, highlighting a slight delay due to changes in activity durations, extending the project's completion time to 18.5 months. It assesses potential risks related to the project's duration, budget, and meeting frequency. The financial manager sets a budget of around $5 million, with potential cost increases due to timeline extensions. The report emphasizes the importance of weekly meetings to address issues such as improper management, schedule slippage, and budget shortfalls. The analysis includes a component-wise status update, planned vs. actual timelines, and risk mitigation strategies. The report concludes by referencing relevant academic literature on project management and scorecard implementation, offering insights into the project's strategic management and performance evaluation.

Running head: PROJECT MANAGEMENT
Kingston-Bryce Limited (Scorecard)
Name of the Student
Name of the University
Author’s Note

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PROJECT MANAGEMENT
Risks
Potential risks
On track
1. Project scorecard
Project scorecard is mainly defined as one of the simple visual illustration of the
progress and status of the project. In addition to this, it helps in providing a quick glance on the
overview of the project quite effectively. The project scorecard which is provided below reflects
on the status of the project and provides proper justification.
Overall
project
progress
On track Notes:
Component Status Planned Actual Owner/team Notes
Timeline Risk It is
identified
that the
acquisition
of the
competitors
must get
successfully
completed
within 18
The project
progresses as
per the initial
planning,
however as the
time duration
of some of the
activities
changes
therefore the
Project
manager is
the owner of
the project
timeline.
It is found that
the planned as
well as the
actual timeline
of the project
varies by 15
days which
further can
cause delay in
the project. If

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PROJECT MANAGEMENT
months of
time.
total timeline
for the project
changes and
due to which
total time for
project
completion
increases to
18.5 months.
the project gets
delayed then
the total budget
that is needed
for the project
also get
increased that
further causes a
number of
financial issues
and challenges
in the project.
Project
duration
Risk It is found
that the
initiation
phase
requires 2.45
months
whereas the
planning
phase needs
4.6 months.
In addition to
The entire
project
progress as per
the initial
planning and
as a result the
initiation phase
get completed
in 2.45 months
whereas
planning phase
Project
planner is
responsible
for setting
duration for
each of the
project
activity.
The time that
increases in the
execution phase
increases the
total duration of
the project and
therefore the
project faces
delay. It is
found that
increase in time

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PROJECT MANAGEMENT
this, the
execution
phase needs
10.1 months
whereas the
closure phase
requires 0.85
months.
gets completed
in 4.6 months.
Furthermore,
in the
execution
phase of the
project, 15
more days are
required to
complete the
acquisition of
the
competitors
quite
effectively and
as result the
total duration
of the project
gets increases.
occurs due to
improper
tracking of the
performance of
the project. In
order to resolve
the problem of
delay in the
project, it is
necessary to
track the entire
project
successfully on
a weekly basis
for avoiding
slippage.
Budget Risk The financial
manager sets
budget of
around $5
It is found that
the project
spends money
as per the
The financial
manager
takes the
entire
It is found that
the as the actual
budget of the
project

5
PROJECT MANAGEMENT
million in
order to
complete the
acquisitions
of the
competitors
by the
organization
effectively.
Therefore,
the project
manager
needs to
complete the
project
within the
assumed
budget.
initial planning
but as the time
of the
execution
phases
increase
therefore the
cost that is
needed for
completing the
entire project
get increased
which further
can create a
number of
financial
challenges and
issues. Due to
unavailability
of additional
budget that is
needed, the
progress of the
responsibility
of managing
the project
budget quite
effectively.
generally varies
with the
planned budget
of the project
therefore the
project faces a
number of
financial issues
and challenges
which further
can obstruct the
construction of
the project.
Furthermore, in
the absence of
additional
budget, it is
quite difficult
to manage the
project work
quite
effectively.

6
PROJECT MANAGEMENT
entire project
can generally
get obstructed.
Meeting
frequency
Track The project
planner
decided that
weekly
meetings will
be held in
order to
discuss about
different
issues and
challenges
that the
project team
generally
faces during
the progress
of the
project. This
is mainly
done in order
As per
planning, each
week, a
meeting was
held in order to
discuss
challenges like
improper
management,
schedule
slippage,
budget
shortfall and
more so that
the project
managers as
well as team
leaders can
determine
proper ways
The project
planner takes
the entire
responsibility
of arranging
meeting
when
required so
that the
project can
be easily
progress
without
facing any
type of
challenges.
It is found that
as meeting
frequency is in
track therefore
no issue related
with
communication
can generally
create impact
on the progress
of the project
negatively.
Furthermore,
the challenges
that would have
occurred in the
absence of
meetings get
avoided.

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PROJECT MANAGEMENT
to resolve
challenges
such that the
issues do not
create
negative
impact on the
project.
with the help
of which the
issues can get
resolved.
Proper
suggestions are
mainly
provided by
both the
project
managers as
well as team
members in
order to avoid,
mitigate or for
resolving the
issues and
challenges.

8
PROJECT MANAGEMENT
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