Project Management Report: Business-Xperts-20 Project Analysis

This report provides a comprehensive overview of project management, encompassing key elements such as project characteristics, integration management, scope statements, budget generation, risk management, and quality methods. The report delves into the intricacies of project initiation, planning, execution, and control, illustrated through a case study involving the renovation of a university library and classrooms by the company Business-Xperts-20. It explores the importance of effective project planning, including setting timelines, managing budgets, and assembling project teams. The report also addresses the utilization of tools like the Work Breakdown Structure (WBS) and Gantt charts for organizing and monitoring project activities. The report covers the different phases of a project life cycle, including initiation, planning, execution, monitoring and control. The project also includes a discussion on risk assessment and mitigation strategies to ensure successful project outcomes. The report highlights the crucial role of communication, team management, and stakeholder engagement in achieving project goals. This report is contributed by a student to be published on the website Desklib. Desklib is a platform which provides all the necessary AI based study tools for students.

Managing Projects
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Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
TASK 2............................................................................................................................................5
Project Initiation.....................................................................................................................6
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15
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INTRODUCTION
Project management consists of a series of components, like launching, preparing,
executing, and oversight, and finally assessing if the final success is reached or otherwise
(Shirley, 2020). The preparation stage is the utmost importance within project which is executed
properly. This helps not just to determine the aspects necessary to compete with the project and
also to develop policies or to gradually taken that will mitigate the overall organisational
performance. It is therefore important to improve standard of work by reducing waste and
optimizing the use of resources. The primary purpose of this report is really to gain insight into
the process of managing projects as well as the benefits of a particular project.
The report includes two tasks, as task 1 includes details of the project management role,
level of risk etc. Though second monitoring role is focused on a business case study, Project-
Xperts-20 is allocated for a project. The scheme refers to the redesign of a college's classrooms.
TASK 1
1. Key characteristics of any project
A project already has a vast range of functionality and will show the accompanying:
• The project is assessment measures for the implementation of both the company and
individual clients.
• In addition, a mission is infinite, usually requiring the start of the end.
• A project is basically exceptional to this, as it helps bring through it a wide variety of
specific requirements that a project leader requires to meet across the scope of the
project.
• In the meanwhile, projects will usually only be a once-out effort, something which
appears continuously on a regular basis.
1b. Importance of integration management
Integration management is vital for establishing product development even though firms can
systematically align various tasks (Fleming, 2019). There is reference much below significance
which is as described in the following point:
• Effective leadership and framework of all process quality processes and functions
mostly during proposal.
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• Undertaking a whole venture to produce a result reliably as the aim of each process is
to meet the main objective of task project implementation.
2. Scope Statement for a project and role of WBS.
This is as being one of the key elements of a project which allows users to understand
what assessment is really all about besides reading that comment. A proposal without a
statement doesn't give any form of value to researchers and authors.
WBS 'primary function in the argument is that it assists with planning the entire meaning
of a given initiative more specifically along with it directly (Pollard, 2019). The simplest that
approach to do this is to use an elevation map. It is the structure which is the key phase of the
design which coordinated the company's efforts according to the sections of the supervisors.
3. Approaches to generate a budget
The strategy of the company is considered to be a schedule, which is thus a series of financial
and non-financial statements. It includes different methods to organizing and also the numerous
corporate entity income and expenditures. The budget is a tracking and coordinating device,
beginning with the duration and concluding with the correct structure for the plan.
Top-down approach: This helps determine how much something could also cost a project.
This proportion has been further broken down into the project activities.
Bottom-up approach: This requires recognizing the tasks that are required to accomplish
within the same project. The proposal here is focused on the lowest-level contract bundles that
are then rounded up to the overall expense of the proposal.
4. Four types of project risks and outline various responses
There could be a variety of risks throughout product design which can impact actual
performance. A few other dangers are described following:
• Financial risk: This is a risk that arises due to a complete lack of financial resources
to carry out various tasks.
• Risk schedule: This threat arises whenever a project fails to complete within a given
time period.
• Performance risk: This is a risk associated with the expected project actual result
incompetence.
• Resource risk: The resource scarcity to complete a project causes it to happen.
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Measurements which have different assortment should be properly considered to minimize
these potential risks. Equally, all high-chance circumstances and points of interest of non-
experimental analyses should be identified adequately. Use past knowledge, verifiable relevant
data and critical path analysis technique (PERT) to generate increasingly accurate evaluations.
All skills anticipated to complete the task should have might have should really have one source
of revenue decided to name to restrict the resource risks.
5. Quality methods
There important methodologies for ensuring a project’s quality but many of them are
suggested in this way below:
Evaluation of the proposal is a systematic and reasonable review of the project undergoing
progress or completed (Owusu, Chan and Shan, 2019). It contains collecting data regarding
project operations, characteristics and outcomes. The key goal is to evaluate the project with a
view to determining the effectiveness, utility, impact and sustained development. Plan
assessment involves both objective and subjective evaluation of a mission or study document.
Monitoring is the organized method of capturing, dissecting and analysing information in
order to evaluate the success of a system in meeting its objectives and guide management
choices. For example, evaluation centres all over aspects for even the most part, when and how
activities occur, who transmits the others and how many people or materials they achieve.
6. Gantt chart
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TASK 2
Project overview: The proposal is focusing on a university which intends to renovate its
library from surface to main floor as well as lecture cinemas. The project is delegated to a
Business-Xperts-20 company. The project performance goal is to surmount noise emissions
related to DLR trains.
Project Initiation
Project scope
Project management life period compromise into five subpart: initiation, planning,
implementation, control, as well as in-depth. Those stages are indeed the way that manager uses
from beginning to end. Project-Xperts-20 is the company given the contract for the renovation of
classroom setting, movie theatres and library services. Team members are executing their
activities with the aid of this group or beginning from needing to plead to complete the project
by defining individual or entire team results. These stages are discussed below:
Initiation: Primarily the company must identify the business objectives during that level.
The project manager basically helps to specify a business requirement, risks possibilities and the
discuss concepts of the staff to meet several of the requirements, tackle this problem, or impact
the opportunity. Throughout that stage, the firm must realize the project's goal, decide what is
best is possible and evaluate the project's main outcomes (Rendon and Snider, 2019). In this
scenario, it included the construction of 20 new workspaces as well as the introduction of 5 new
work areas to the current library. This process includes an in-depth overview about what certain
project managers ought to do to meet the project's priorities and objectives. Each step includes
the investment of the entire project as well as the University of Sunderland London Campus is
obliged to tolerate a total amount of £ 8 million and therefore will finish the assignment in less
than 2 years.
In this process stakeholders were always remembered as they are an integral part of the
organization and therefore should be informed of that as well. According to this initiative they
are teachers, educators, university employees, friends, educational organizations, supporters.
Such people recognize any improvement happening in the university to improve education
environment of the graduates. The project manager must begin writing the paper in the initial
level, which includes an in-depth summary of the methodology and why it should be executed to
fulfil the desired achievement.
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Planning: In this phase, project managers designing a plan to determine the project's
timeline, including the program's sub-activities, should finish the operations in less than their
limits. Measuring expenditures and designing the strategy by using cost forecast and choosing
what to consume on the project. The University aims in this situation to renovate offices,
laboratories and theatres. The timeframe for renovation in regards to this is 2 years. Classrooms
should be retrofitted to allow students to interact recent research, as the passing of the DLR train
truly near as possible to the school grounds creates disturbance that irritates the research project
cycle.
Objective
• Install 20 new workspaces on the very first collage floor lamp and 5 throughout the
library following replacement of the ancient one.
• Renovated auditoriums and theatres, where citizens practice interactive learning to boost
their awareness, motivation and research efficiency.
• Due to these changes at the college this plan helps to obtain further entry throughout the
upcoming season.
• Helps develop smart data analysis primary schools which included mobile devices or
devices to interact with one another.
Timescale:
This indicates how strong each work is done to succeed for the project (Goodman, 2019).
Time control is perhaps the most important in preparing every event and project members ought
to guarantee that the job is done within a schedule that improves productivity and profitability.
Project manager oversees the work and is accountable for ensuring that tasks are carried out until
the deadline. College and library redevelopment had to be finished on schedule before classes
began.
Budget: This really is the computation of every other approximation which had to be
arranged before making an investment on project. For example, Project-Xperts-20 seems to have
a proposal to refurbish buildings and literary, or making it much more enjoyable for graduates to
research this place. The London Campus of Sunderland University is spending £ 8 million to
carry out any of those ventures. This includes a number of sub-activities involving money that is
as follows:
Activities Amount (£ million)
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Online Promotion 1
Raw material 2
Salary 1
Transportation exposes 1
Advertisements & Marketing 1
Recruitment expenses 1
Training expenses 1
Total 8
Approaches: While planning a project, managers can follow an effective strategy that helps
to meet project goals and priorities (Brunet, 2019). In the respective case study university is
renovating its classrooms so as a part of digital education by utilizing technology, the
participants can educate and experience something additional.
Key personnel: The project manager for the Sunderland London Campus requires a full
team to achieve this task of running project. To achieve so, manager hires certain skilled
individuals ensuring they have appropriate preparation to improve their outcomes. The project
leader explains a few of the characteristics that the candidate can provide in ability to succeed
satisfy his or her task and to receive intended outcomes. Each selected staff member need
abilities like time management skills, management skills, creative, informative and thoughts or
emotions. Both are essential for hires, in reality managers need to send the team members
guidance that they provide adequate information regarding the task and the responsibilities of
each member
Execution: The project team is authorised by the higher authority to ensure the smooth
implementation of activities throughout the entire project. The project managers also have many
responsibilities as their entire team needs to be managed; each task manages and guarantees that
this mission is finished by the schedule time and as per the initial timetable (de Oliveira,
Rabechini and Derakhshan, 2019). Project Manager of Project-Xperts-20 would then support
instead every group member as to their role and responsibility to reach optimal objectives and
outcomes. On further providing the necessary instruction to the group members, the project
leader will regularly inform the others to review and evaluate performance. Communication
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tends to improve workers morale, as they may discuss complaints or thoughts with one another
and whenever they are faced with any kinds of problems.
WBS: It is a process through which project teams organize and classify any action that some
may identify or carry out if necessary. Throughout the WBS, each role is structured such that
tasks and goals can be met on schedule. The Project Manager arranges or handles the overall
effort inside the organisation culture wherein learners or family members are aware of the school
new design which offers their educators via a developed educational environment. WBS was
developed by the systems engineer to accomplish the function effectively. The project manager
develops WBS which lists the various stages of the PLC.
Control: Throughout that project cycle procedure the project leader analyses the results that
is essential as some adjustments can be implemented. When one assignment was already
monitored, managers ought to formulate strategies to improve the initiative (Myers, 2020).
Financial preparation is often relevant as project managers because any company investment is
tracked as increasing operation requires the overall funding mission because efficiency.
Managers may create a risk assessment register to identify the possible danger that may affect
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the activities or hinder the company from executing the program or conducting the job
efficiently. The entire project will face the reclaimed school buildings and workstations.
Risk: Uncertainty is the unobserved financial disaster which affects the project of company
and overall working performance. This can happen when a company cannot carry out its
operations inside a specific deadline and planned manner (Berggren, 2019). Prior to actually
beginning the project or instance, project leaders should evaluate the challenges that they will
influence management techniques or processes. In order to eliminate the project risk
manager must determine any hazards which will influence the project case as well as that
disclose the requirement of detailed analysis in an appropriate way manner. Project owner
evaluates in the college context all potential risks applicable to redesigned school, reading room
and theatre's spaces. Following the analysis aims to evaluate and maintain the list of
vulnerabilities:
Descripti
on of
risk
Likelihoo
d
Impact Owner Mitigation Contingency Pre
actio
n
weig
hting
score
Post
actio
n
weig
hting
score
Insufficie
nt worth
of the
contributi
ons, leadi
ng to unp
redictable
costs
Moderate Low Sponsor To deal
with
unforeseen
costs
reserve a
certain sum
of money.
By having a los
s of funds that
will impact the
performance of
the case.
6/10 7/10
Danger o
f increase
Low High Project
manager
Construct a
nd choose t
This will stretc
h the whole tim
5 / 10 7 / 10
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d time uti
lization i
n the fun
ctioning
of
a system
due to ins
ufficient
control b
etween b
oth tasks.
he better of
several poss
ible
outcomes to
implement
as the dang
er occurs
etable for the
case and theref
ore add to the e
vent's running c
osts.
Access to
advances
and devel
oped info
rmation t
echnolog
y,
threat co
mbined w
ith poor o
f teaching
quality.
High Low Operatio
nal
director
Stay up
to date-
news report
s.
The University'
s negative pictu
re should be cr
eated
with the clients
and learners in
opinion.
7 / 10 8 / 10
Lack of s
taff
to manag
e event c
ustomers.
High Moderat
e
Project
manager
This proble
m can be m
inimized wi
th forethou
ght and pla
nning
Human resourc
e shortages can
directly impact
case usefulness
.
9 / 10 6 / 10
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aim of prov
iding suffici
ent physical
recourses ac
ross all oper
ations.
Operatio
nal vulne
rability b
ecause
of distinc
t assignm
ents
Moderate High Operatio
nal
director
To handle a
ll administr
ative proces
s and events
proper
as well as ti
mely planni
ng is very
much impor
tant.
Inappropriate e
xecution of
particular case
behaviour
6 / 10 7 / 10
Risk of
policy ad
ministrati
ve uncert
ainty.
High Moderat
e
Managin
g director
Event super
visors are o
bliged to
monitor inf
ormation re
garding pos
sible policy
initiatives.
Any law enforc
ement entity w
hich is unwillin
g to cooperate
including all la
ws will take str
ong stance agai
nst respective u
niversity
7 / 10 8 / 10
Threat fo
r distribut
ors who
High High Project
manager
Make an ex
cellent agre
ement to th
That may result
in a shortage of
finance centre f
6 / 10 9 / 10
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