PROJ6016 Employer Based Project: Reflective Learning Report Analysis

This report provides a reflective analysis of a student's learning experience within an employer-based project, specifically focusing on a project at First National Bank. The report discusses key concepts such as project portfolio management (PPM) principles, stakeholder management, and risk management strategies. It explores the four phases of PPM (initiation, planning, execution, and closure) and their benefits, including improved decision-making and risk mitigation. The report highlights the importance of stakeholder management for resource allocation and project success, as well as the need for effective communication and scheduling. Furthermore, it addresses the significance of risk management, including identifying, analyzing, and controlling risks. The report also emphasizes the role of resources (financial and human) and the use of work breakdown structures for project organization. The student reflects on the application of these principles and frameworks, providing insights into the practical challenges and learnings gained throughout the project, including the use of portfolio management and the activities undertaken to achieve project milestones within a set budget and timeframe.

Running head: PROJ6016 EMPLOYER BASED PROJECT
PROJ6016 EMPLOYER BASED PROJECT ASSESSMENT FIVE-
REFLECTIVE LEARNING REPORT
Name of the Student
Name of the University
Author Note

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Executive summary
The main purpose behind describing the report is to understand the concept associated
with employer based project. In this assessment I am going to discuss about the concepts that I
have learnt. The main objective is to discuss the specific theories associated with the MIS project
portfolio principles at First national bank. The report will describe the main learning that I have
learnt throughout the course work. While developing the project I have learnt that one of the
important factors that help in performing the task effectively is communication plan. Thus the
reflection will help in analyzing the plans that will be beneficial for developing the project.

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Introduction
This report will describe the lessons that I have learnt over the course work so that it
becomes easy to understand the main concepts associated with the project. The project developed
is related to the first national bank in the state of Ohio. This organization is one of the reputed
banks and engages a huge customer base. Hence it can be stated this will help in developing a
proper employee based project. While developing an employee based project it becomes
essential to understand the behavior possessed by employees so that it can ensure better progress
(Kerzner &Kerzner, 2017). While addressing the organization details it is observed that there are
different issues faced by the organization that are needed to be mitigated so that it can provide
better satisfied results towards the customers. The issues that are faced with the working of the
organization are the ineffective budget that hampers the process. Thus the report will discuss the
key elements that are analyzed as an important aspect throughout the development of project.
About the employee based project
The aim of this project is to describe the management principles that are going to be used
for the purpose of ensuring proper management of the activities. With the help of proper project
portfolio principles it becomes easy to understand the resources that will be used for completing
the project and the essential stakeholders that will help in managing the activities within the
national bank. After analyzing the project the benefits that I have learnt with using effective
project portfolio principles is that it helps in having a proper information system and also ensures
that all the concerns associated with the organization are resolved. After understanding the
concept of PPM principles it can be stated that the PPM is a philosophy. The philosophy states

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that without a proper strategic methodology, planning project portfolio it becomes difficult to
complete the project. Thus in order to ensure proper completion of the project it becomes
essential to ensure that it has been prepared by following the PPM principles (Kaiser, Arbi &
Ahlemann, 2015). The major four steps that are associated with the PPM principles is the
completion of initiation phase, completing the planning phase, completing execution phase and
lastly the closure phase. With the help of portfolio management principles it becomes easy to
analyze the outcomes (Reich & Wee, 2019). Thus it becomes important to understand the
concepts related to portfolio management. The major benefits that is offered with the help of
project portfolio management is that it helps in making better decision and ensures that all the
concerns of organization are being resolved effectively. In addition to this it becomes easy to
manage the risks that are likely to arise within the organization. The project turn time becomes
faster while developing the project by following the portfolio management principles. Apart
from all this the project delivery time increases that leads to high success rate and ensures better
streamline data along with better collaboration with the customers (Conforto et al., 2014). The
main focus is to develop projects that will be able to overcome the issues faced by the
organization.
The principles that are associated with project portfolio management is that it helps in
aligning the strategy together and hence the project gets completed within a fixed amount of
time. The governance can be aligned easily with the help of portfolio management. Portfolio
management also helps in performing the project mainly by focusing on confidentiality and leads
actively within the organization (Mir & Pinnington, 2014). The main elements that are associated
with portfolio management process includes clarifying the strategic intent, flow of good
proposals can be performed and helps in making better decision that will be beneficial for

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everyone. With effective management principles it will become easy to satisfy the project
requirements (Hermano & Martín-Cruz, 2019). While developing a project it becomes essential
to ensure that it is being developed by following the project objectives that is the project
developed is specific, measurable, relevant, achievable and completed within time. Stakeholder
management is another crucial component that is needed to be considered effectively for the
purpose of delivering the project within the time. At the project development time each
stakeholder plays a crucial role and hence it becomes essential to ensure that proper stakeholder
management strategy is being adapted (Hermano & Martín-Cruz, 2019). Throughout the course
work I have learnt that proper stakeholder management strategy helps in ensuring better
performance of the stakeholders. The strategy associated with the stakeholder management states
that with the help of proper approach it becomes easy to remove the negative impacts and will
help in identifying the influence of stakeholders on the project. According to the author Fleming
& Koppelman, (2016), the different types of stakeholders that are associated with a project are
project manager, customers, sponsors functional management and project team members. The
main reason behind having a proper stakeholder management strategy is that it ensures proper
management of the resources throughout the working process. This also reduces the chances of
risks that are likely to come while implementing the project. This also ensures that the chances of
success increases with the proper management strategy. Lastly the main reason that has been
discovered behind having an effective strategy for stakeholders is that it ensures better way of
project closure (Larson & Gray, 2017).
Apart from all this the after analyzing the issues it is being summarized that the main
issues were faced with improper communication process, with irregular schedule and improper
analysis. The organization lacks in communication process. Thus it becomes essential to ensure

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that proper communication is being performed between the stakeholders and the main team
members. This ensures that the working and the project is being developed by following the
correct process. The main reason to have proper communication is that it will ensure that the
project is being developed by following all the requirements. This is one of the important factors
for developing a project (Sánchez, 2015). Better communication will reduce the chances of
errors and will help in delivering the project within time with minimum errors. Secondly, while
developing a project it is important to have a proper schedule that will help in understanding the
stages that are important for the project development process. The schedule will help in
analyzing the resources and the time that will be needed by the team members to deliver the
project. Thus, I can state that with the help of proper schedule and communication it will become
easy to finish the projects within the scheduled time. However apart from all this while analyzing
the project I have learnt that it is equally important to determine the risks at first stage so that it
can be overcome with roper risk strategy. This will help in overcoming the challenges as soon as
possible. The main reason behind having a proper risk management strategy is that it will help
inn understanding the progress of the project once it is being implemented. According to the
author Conforto et al., (2014), the main steps that are needed for managing the risks includes
identifying the risks at the first stage, analyzing the risks by determining the impacts of this risks
on the project, controlling the risks with proper mitigation strategy so that it can be benefitted
towards the organization. Lastly the risk treatment is done for understanding the risk pattern and
the consequences. This will help in understanding the risk factors and the impacts that will be
created with the risks. While implementing an effective risks management plan it is important to
ensure that proper communication is being performed among all the organization so that it
becomes easy to communicate with the other staff members. Secondly while implementing a risk

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management plan it is important to understand that the plan is being developed by following the
proper procedures and policies (Karaman & Kurt, 2015). Every members within the organization
needs to be aware of their roles and the risk management plan so that it becomes easy to
understand the responsibilities. While going through the module I have understood that the main
reason behind having an effective risk management plan is that it helps in protecting the
employees and assets from serious damages and also ensures that a protected environment is
provided towards the organization (Sánchez, 2015). The chance of threat towards the
organization reduces with risk management plan. With the help of an effective risk management
strategy it becomes easy to develop an environment that is safe for the staffs, customers and
visitors.
While analyzing the report for employee based project I have analyzed that there is a high
importance to understand the resources at first stage so that the project objective can be set
accordingly. The main resources that are associated with the project are mainly divided into two
parts that is the financial resources and human resources. In addition to this the report has also
included a work breakdown structure that helps inn understanding the performance of the
project. The major step associated with a breakdown structure for a project includes initiation
phase, planning phase, execution phase and closure phase (Joslin & Müller 2015). The main
reason behind having a proper work break down structure is that it helps in making the
deliverables more concrete and precise so that it can meet the requirements of the project. This
also helps in understanding the time exact time that will be needed for the project to get
executed. This also helps in determining the cost and risks that are associated with the project.
According to the author Bjorvatn & Wald, (2018), the major benefits that comes along with the
use of work breakdown structure is that it helps in identifying the work that is needed to be done

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on the particular organization and organizations the work accordingly. These also provide a
better visual towards the entire scope and assist the project members at the time of resource
allocation. With the help of an effective work breakdown structure it becomes easy to engage the
stakeholders with the project and needs to perform proper planning with the project.
The assignment one was mainly based on the activities that are being identified essential
within the Final National bank. While developing the project I have utilized the knowledge of
portfolio management. It is expected that while executing the activities it will become easy to
cover all the task and tp meet the milestone that is being set at the time of project development.
In assessment two I have conducted several activities for the purpose of understanding the major
milestones associated with the project. Based on the project of First national bank the milestone
has been described so that it becomes easy to achieve the target. It is expected that the project
will get executed within 60 days and within the budget of around $$70,000. This paper has
mainly implemented project management principles for the purpose of completing the events. On
the other hand while developing this project I learnt that the PPM principles and portfolio
management plays a major role in resolving the issues faced with the First national bank faces.
With the help of log sheet and project status report it becomes easy to understand the
effectiveness or project. After reviewing the project component it can be stated that the project
executed is on track and can be obtained successfully without any problem. In addition to this it
can be stated that the project progress on weekly basis is being done for understanding the
progress of the project along with the risks that are likely to come along with the project. With
the help of project portfolio principles it can be stated that the development of a project becomes
easy (Kerzner &Kerzner, 2017). The project portfolio principles principle helps inn cutting the

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costs, reduces the risks and ensures a proper strategy that will help in providing competitive
advantage towards the project development process.
Conclusion
Thus from the above report it can be concluded that throughout the learning ,module I
have learnt that it is important for every project to implement proper project portfolio principles
so that it can be executed successfully. Throughout the module I have learnt that it is important
to develop a proper communication plan that will help in engaging with important stakeholders
and will ensure that the project is completed within time with fewer errors. In addition to this
while developing a project it becomes essential to ensure that the project is being developed by
following the work breakdown structure. The main aim of having a proper break down structure
is that it will help in completing the project effectively within the time. With the use of PPM
principles it becomes easy to manage the tasks effectively and the stakeholder management
becomes easy.

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References
Bjorvatn, T., & Wald, A. (2018). Project complexity and team-level absorptive capacity as
drivers of project portfolio principles performance. International Journal of Project
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Conforto, E. C., Salum, F., Amaral, D. C., da Silva, S. L., & de Almeida, L. F. M. (2014). Can
agile project portfolio principles be adopted by industries other than software
development?. Project portfolio principles Journal, 45(3), 21-34.
Fleming, Q. W., & Koppelman, J. M. (2016, December). Earned value project portfolio
principles. Project portfolio principles Institute.
Hermano, V., & Martín-Cruz, N. (2019). Expanding the Knowledge on Project portfolio
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Joslin, R., & Müller, R. (2015). Relationships between a project portfolio principles
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alignment. International Journal of Project portfolio principles, 33(1), 126-139.

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