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Main Objective of Project Management

INTRODUCTION

Project management is a process of planning, organising, managing and execution of task and projects with in targeted deadline. Attaining the desired aim and objectives in given time limit is the main objective of project management. This report contains two project related to managing the project tasks and requirements (Boud, Cohen and Sampson, 2014). There is a project task carried out with 10 major activities and the suitable complex situations. The project is related to a construction of building in Malaysia. Network diagram for managing sections and the significant aspects are considered in this project. A case study analysis given to find out the reason of project failure and analyse the project succession task and challenges. Some of the essential topics are discussed in terms of managing the plans and objectives are also analysed in this project. Investment in new project with sustainability is evaluated on the basis of net present value and valuation methods. The measurement is basically based upon the estimated years and deadlines. Risk management also defined in this context.

Project 2 contains the formation and preparation of project in different parts. Part first contains the initiation of project with project charter on the basis of the important inputs. Part second contains planning is mainly identified for creating the work-breakdown structure and the project phases. Part 3 is related to execution of task and formations with Gantt chart, planning documents and the executive projects. The WBS mainly associated with the project utilisation procedures and management of Microsoft excel in creating Gantt chart. Part 4 contains the controlling the departmental fields and system administrator for organisation. The course of installing the software was looked up with various names. Part 5 contains the closing requirements with the help of inputs provided form all stakeholders.

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PROJECT 1

1. Project related to on building a condominium in Malaysia 5 floors

Project Management:Project Management consist the functions like planning, organising and managing the efforts in order to accomplish the goals (Cervone, 2011). The project is an activity which leads to an outcome or outflow for example constructing a new building or a new system of computer. Not only this, a project is the crucial function which involves the defining and conforming the project targets or goals and identifying the major steps in order to accomplishing the project goals. It also pertains the identifying working or tasks and quantifying the needful resources and deciding the budget and timelines to complete it. Besides this, project involves various stages like feasibility, definition, implementation, evaluation, planning and realisation or some other managerial tasks.

Construction contracts are the type of project required a specific date of completion and management of various activities. This is an essential element in terms of making the structure of construction project (Chou, 2011). The process is mainly associated with the start date to end date. There is a project undertake of a building condominium with five floors in Malaysia with different tasks resources, start and finish date and completion of date. There is a time scale of project with specific timeline and deadline is prepared as follows;

WBS

Activities and tasks

Resources

Start

Finish

Days

%

1

Design of architecture

Stephen

01/10/18

05/10/18

4

100.00%

1.1

Formation of construction document

Ronald

01/10/18

03/10/18

3

100.00%

1.1.1

agreement to architectural plan

Stephen

01/10/18

03/10/18

3

100.00%

 

Sign of agreement

Stephen

04/10/18

05/10/18

1

-

2

Construction phase

Adam

16/10/18

31/10/18

25

100.00%

2.1

Foundation

Max

16/10/18

19/10/18

5

33.33%

2.1.1

Excavation

Max

16/10/18

18/10/18

4

100.00%

2.1.2

Pour concrete

Danny

19/10/18

21/10/18

3

100.00%

2.1.3

level concrete

Danny

19/10/18

31/10/18

3

100.00%

2.2

Ground floor

Ronald

01/11/18

10/11/18

10

0.00%

2.2.1

Walls to 1st floor

Ronald

01/11/18

04/11/18

3

0.00%

2.2.2

Roof structure

Ronald

04/11/18

08/11/18

8

0.00%

3

1st floor

Sara

11/11/18

19/11/18

8

0.00%

3.1

Walls to 2st floor

Ronald

01/11/18

04/11/18

3

0.00%

3.2

Roof structure

Ronald

04/11/18

08/11/18

8

0.00%

4

2nd floor

Sara

20/11/18

25/11/18

5

0.00%

4.1

Walls to 3st floor

Ronald

20/11/18

22/11/18

2

0.00%

4.2

Roof structure

Ronald

23/11/18

25/11/18

2

0.00%

5

3rd floor

Sara

25/11/18

31/11/2018

6

0.00%

5.1

Walls to 5st floor

Ronald

25/11/18

26/11/18

1

0.00%

5.2

Roof structure

Ronald

27/11/18

31/11/2018

5

0.00%

6

4th floor

Sara

20/11/18

25/11/18

5

0.00%

6.1

Walls to 5st floor

Ronald

20/11/18

22/11/18

2

0.00%

6.2

Roof structure

Ronald

22/11/18

25/11/18

3

0.00%

7

5th floor

Sara

20/11/18

25/11/18

5

0.00%

7.1

Terrace

Ronald

20/11/18

22/11/18

2

0.00%

7.2

Roof structure

Ronald

23/11/18

25/11/18

2

0.00%

The above table contains the activities and time limits with the accurate changes and requirements associated with project plan and operations. The project is divided in different phases which are defined as follows;

Phase 1: Design of architecture: This phase is the considered as starting phase that contains the start date and finish date of particular project. In the present case scenario the there is a 4 days schedule is prepared for assessing different task activities. Formation of construction documents with 3 days of completion limit, agreement to architectural plan with 3 days limit and Sign of agreements are the main activities considered in this phase. This phase will be start on 1/10/2018 and end at 5/10/2018. 4 days limit is cited in total under this project (De Bakker, Boonstra and Wortmann, 2010).

Phase 2: Construction phase: This is the main phase considered the time limit of 25 days and consider the major activities associated with project plans and management. Start date of project is 16/10/2018 and end date is 31/10/2018 with total time limit of 25 days and 100% completion. The presented data mainly based upon successful succession of task and project and evaluation of projects for developing the structure at vast level. The construction phase contains following activities such as foundations, excavation, pour concrete and level concrete.

Phase 3: Construction of ground floor: There is an evaluation of project task and activities are carried out subject to analyse the feasibility. There are following activities are associated with the construction projects such as ground floor as walls to 1stfloor. The start date of this project is 25/11/2018 and end date is 31/11/2018. the process is mainly associated with analysing the construction project cost subject to ground floor.

Phase 4: Construction of 1stfloor: There is a particular phase is prepared in terms of managing the department of roof structure and complex business equations. The start date of project was 11/11/2018 and end date is 19/11/2018. core activities are associated with construction of 2ndfloor and roof structure.

Phase 5: Construction of 2nd floor: There is a particular phase is prepared in terms of managing the department of roof structure of 3rdfloor and complex business equations. The start date of project was 20/11/2018 and end date is 25/11/2018. core activities are associated with construction of 3rdfloor and roof structure.

Phase 6: Construction of 3rdfloor: There is a particular phase is prepared in terms of managing the department of roof structure of 4thfloor and complex business equations. The start date of project was 25/11/2018 and 31/11/2018 end date is. core activities are associated with construction of 4thfloor and roof structure.

Phase 7: Construction of 4thfloor: There is a particular phase is prepared in terms of managing the department of roof structure of 5thfloor and complex business equations. The start date of project was 25/11/2018 and 31/11/2018 end date is. core activities are associated with construction of 4thfloor and roof structure.

Phase 8: Construction of 5thfloor: There is a particular phase is prepared in terms of managing the department of roof structure of terrace and walls structure.The start date of project was 25/11/2018 and 31/11/2018 end date is. core activities are associated with construction of 4thfloor and roof structure.

Network Diagram: It is an essential element that helps in understanding the characteristics of project management and plans with specific deadlines and timescales. A network diagram presents information and details in visual form with the help of computers and telecom communications. The components mainly associated with analysing the the interactions and density of devises and firewalls. This It connects all the activities and plans with the project guidelines and timelines with accurate look up network and time scale. The in-depth knowledge and the diagrams with topology and definitions are considered under this scale.

It plays vital role in project management and controlling sections and helps managers and accountants with visualise presentations and results (Flyvbjerg, 2013). The network diagram is visualised below in respect of a project plan of a building condominium of 5 floor in Malaysia. This project mainly contains 10 major activities with complexities the activities were not only associated with the project activities but also presents the information and activities outside the nature and hours. This mainly helps in determining the activities and path to follow the task through accurate and effective visual presentation.

Critical-path

Critical path indicates towards the structure of longest sequences and action activities that remain related with the completed duration and time. The process mainly centralised around predecessors activities (Jafari and et. al., 2011). It can be delayed in the project for day use and the activities for the completed day earlier. It is a very useful part of managing the main activities and subordinate activities, the challenges and duration are considered in this context. The activities are mainly scheduled with represented with early date duration, early finish, late start, float and late finish.

2. Case study related to project risk management and reasons of project failure

As given, in year 2003 beagle 2, Britain's first interplanetary spacecraft which hitched a ride to Mars on the European Space Agency's Mars express mission or project. The spacecraft headed for Mars but failed to deploy their solar panels. It had been thought that spacecraft crashed on the surface of Mars due to the failure of entry, descent, landing system. Beagle 2 was running on the battery power during its descent and for the first phase of operations on the planet's surface, means that it could be recorded some data on its onboard memory. Thus, the fault was may be in planning of project also its improper implementation or may be due to poor communications and may be due to unreliable estimations. There are various reasons which leads to failure of a project.

  • Scope creep:Scope is essential in project accomplishment, scope means everything that what to do or not to do. Once the goals and steps in order to achieve goals are figured out exactly by a work breakdown structure so it helps as a guard against the unplanned changes to it (Kerzner, 2013). So when planned changes are analysed then the control board issues the new schedule, risk and budget plan as needed. In the case of beagle 2 spacecraft fails to deploy the solar panels, one of the reason behind this may be the board European Space Agency didn't analyse the possible unplanned changes properly and thus, the improper strategy leads to failure.
  • Poor communications: The people engaged in a project and manager will know each other only by communications. The communications may be perform by various ways like , face to face directly, or by phone, or emails or by special communications as in case of spacecrafts agencies. Hence, poor communications could be a reason behind the failure of beagle 2, due to poor communication the astronauts were failed to communicate with space craft agencies during emergency time.
  • Unreliable Estimates: Estimation is the most essential thing while organising the project. Guesstimates by the people engaged with the project, trying to calculate time durations of tasks or estimation of risk criteria or estimations regarding various crucial steps. In case of beagle 2 failure there was a reason of imperfect estimation regarding the entry, descent, landing system. Thus, it proves that improper estimation leads to failure of project.
  • Inadequate training: It is based on the project manager and is his/her responsibility to manage the types of project other persons just came from (Leadership Qualities of a Great Project Manager.2016). The problem arises when they don't get the proper training in project management and may well lack of task performing skills the job calls for. This was also a reason behind the crashing of beagle 2 as the people were in spacecraft were facing problem regarding performing the entry, descent, landing system operations. Thus lack of proper training and skills leads to failure not the success.

3. Evaluation of Net present value of project and expected returns

Net Present Value (NPV): It refers to the difference between the net present value of cash inflow and the present value of net cash outflow during the particular period of time. NPV is used to calculate the profitability of the project and also used to analyse the capital budgeting. The NPV is of two types namely, positive value of net present value(represents the earnings generated by the projects are exceeds then the anticipated costs) hence, the projects incurring the positive NPV is profitable for the organisation and negative value of net present value(Shows that the cash inflow generated by the project is less then the actual costs incurred in the project) or the project which generate the negative NPV is loss incurring project for the organisation (Kerzner, 2017). Moreover the NPV analysis is the intrinsic valuation and is used for finance and accounting for identifying the values of the business, investment security, capital project, new venture, cost reduction, program or each and everything that involves the cash flow (either inflow or outflow) .

Year

Estimated return

P.V. Factor

cash inflows

0

-1000000

0.9478672986

-947867.298578199

1

75000

0.8984524157

67383.931178545

2

150000

0.8516136642

127742.049627573

3

250000

0.8072167433

201804.18582555

4

330000

0.7651343538

252494.336767513

5

400000

0.725245833

290098.333209839

   

NPV

-8344.4619691783

   

IRR

-0.24%

       

4. Risk management

Risk management refers to the process which include the steps like identification, analysis, acceptance and mitigation of contingencies in order to make the decisions regarding the project. Risk management occurs when the project manager analyse the attempts to quantify the potential for losses in project decision making after then, take possible action to minimize the risk of project decisions. 'Risk management is crucial for the project management' some points in support of this statement are as follows.

Protecting the people and assets from the harm: Risk management helps the project manager in order to minimize the degree of risk possibilities (Lock, 2016). Hence it helps the manager to secure the life of people and assets of the organisation. As in case of building construction it is essential to maintain the accuracy in quantifying the level of risk with saves loss of human life as well as loss of organisations assets. So, it is essential to have a proper risk management in project

Reducing the threat of possible litigation:No doubt in this statement that risk management helps in reducing the threat in order to make positive outcomes or possible litigation (Larson and Gray, 2013). By minimising the risks of uncertainties it helps the management to get favourable results on project. If the project manager of building construction analyse attempts to quantify the risk accurately then, it helps in reducing the threats of possible litigation.

Increase the stability of operations: The efficiency and effective regarding the risk management helps in reducing the chances of accidents and other uncertainties and ensures stability in operations. Also helps the organisations to performs next operations. For example, In building construction projects it is essential to analyse the potential chances of risks and helps the manager to maintain the sustainability in operations (Organizationalstructure.2016).

Saving of valuable resources:The risk management system helps in minimising the chances of uncertainties(accidents and other contingencies) ensures the saving of valuable resources like time, income, assets, people, and property. Saving of the most valuable resource workforce or manpower is essential for the long term growth of the organisation. For example in case of construction building it is essential to secure the workforce from accidents who are engaged in construction. It is essential to provide them a proper safety measures regarding the risk criteria at workplace.

Protecting from construction hazards: Construction hazards means the hazards that may occurs during the construction hazards like chemical hazards, physical hazards, Biological hazards and social hazards and the risk management system helps in reducing the chances of these hazards while operation.

PROJECT 2

Part 1: Initiation (Project charter)

Project Charter: It refers to the statement of scope, objectives and participants in project. It provides the information regarding the responsibilities, project's objectives, identifies the main stakeholders and also defines the authority of project manager (Meskendahl, 2010). It acts as the summary of projects and serves as the reference of the authority for the future of the projects. project charter must pertains the information regarding the contain the essence of the project, presents the understandings of the project and acts as documentary evidence of contract between the project sponsor, key stakeholders and project team.

Project Charter Document

Building a condominium in malaysia 5 floors

Prepared By

Document Owner(s)

Project/Organization Role

Sara

Project manager

Stephen

Architecture

Ronald

Construction supervisor

Project Charter Version Control

Version

Date

Author

Change Description

   

[Ronald]

Document created

   

[Sara]

[Replace this text with a list of changes for this Owner on this Date and Version.]

·Architectural changes

·Construction and supervision

·Project management

PROJECT CHARTER PURPOSE

[Replace the following text with your own statement of the Project Charter Purpose, or use the provided sample text.]

The project charter defines the scope, objectives, and overall approach for the work to be completed. It is a critical element for initiating, planning, executing, controlling, and assessing the project (Morris and Pinto, 2010). It should be the single point of reference on the project for project goals and objectives, scope, organization, estimates, work plan, and budget. In addition, it serves as a contract between the Project Team and the Project Sponsors, stating what will be delivered according to the budget, time constraints, risks, resources, and standards agreed upon for the project.

PROJECT EXECUTIVE SUMMARY

  • project goals
  • objectives
  • scope
  • assumptions
  • risks
  • costs
  • timeline
  • approach
  • organization]

PROJECT OVERVIEW

It is analyses that the main principle was centralized around making the project plan with the help of project plan and critical analysis. WBS, Network Diagram and Critical-path is considered in this projected review,

PROJECT SCOPE

Goals and Objectives

Goals

Objectives

Complete the project of building a condominium of 5 floors in Malaysia

 

1.Develop a building condominium by October that tracks an end-to-end process for 100% of days 15 days.

2.Complete the structure of building the structure with effective base

Departmental Statements of Work (SOW)

Departmental SOW

Owner/Prime

Due Date/Sequence

Pour concrete

Sara

05/10/18

Level concrete

Stephen

31/10/18

Level concrete

Max

10/11/18

Ground floor

Stephen

25/11/18

1stfloor

Ronald

31/11/2018

2ndfloor

Ronald

20/11/18

3rdfloor

Ronald

25/11/18

4thfloor

Ronald

25/11/18

5thfloor

Ronald

31/11/2018

Organizational Impacts

Organization

Impact to and Participation of Organization

Performance

Efficient

Finance management

Organized

Departmental structure

Organized

Project Deliverable

Milestone

Deliverable

Completion of architecture process

100% completion of task with in 4 days start form 1/10/2018 to 5/10/2018

Ground floor

100% completion from 16/10/2018 to 31/10/2018

First floor

100% completion from 19/10/2018 to 21/10/2018

Second floor

100.00% complete form 11/11/2018 to 19/11/2018.

Third floor

Completion of 100% start form 20/11/2018 to 25/11/2018

Fourth floor

100% of completion 20/11/2018 to 25/11/2018

Fifth floor

100% of task start with 23/11/2018 to 25/11/2018

Deliverables Out of Scope

The are some logical areas are considered as 31/11/2018. it is analyses that various areas are considered to determine the key areas.

Project Estimated Costs & Duration

Project Milestone

Date Estimate

Deliverable(s) Included

Confidence Level

Cost of first floor

05/10/18

100.00%

Medium

Cost of second floor

31/10/18

40.00%

Medium

Cost of 4thfloor

10/11/18

50.00%

High

Cost 5thfloor

19/11/18

60.00%

Medium

PROJECT CONDITIONS

Project Assumptions

  • It is analyses the assumption mainly based upon management of policies and standards
  • norms and conditions are mainly associated with building condominium

Project Issues

Priority Criteria

1. High-priority/critical-path issue; requires immediate follow-up and resolution.

2. Medium-priority issue; requires follow-up before completion of next project milestone.

3. Low-priority issue; to be resolved prior to project completion.

4. Closed issue.

#

Date

Priority

Owner

Description

Status & Resolution

1

10/01/18

Completion of first floor

Stephen

Subject to project manager

It is analyses that the regulation that project management is considered in this report.

2

31/10/18

Completion of 3rdfloor

Max

Managing the departmental structure

The project managing team will reduce the burden of excessive burden.

Project Risks

#

Risk Area

Likelihood

Risk Owner

Project Impact-Mitigation Plan

1

Uncertainty

Medium

Max

Substitute plans with existing structure

2

Financial challenges

Medium

Rapid

The feasibility of continuous work.

Project Constraints

  • Contrast changes
  • Project consolidated improvement

Project Structure Approach

[Replace this text with a description of how the project will be structured and what approach will be used to manage the project.

  • What are the dependencies of the project?
  • How will you Plan and Manage the project?]

Project Team Organization Plans

Project Team Role

Project Team Member(s)

Responsibilities

Architecture

Stephen

 

Making design and structure

Contractor

Ronald

Analyzing the legal terms of construction projects

Construction supervision

Max

Supervision of construction project

Electrician

Adam

Evaluating the electric charge and connection

Management of project

Danny

Reporting to senior authorities

Supervene of deadline

Ronald

Report to line manager

Project manager

Sara

Report to senior managers

Line manager

Max

Report to project maneger

PROJECT REFERENCES

Milestone

Deliverable

Construction projects

https://project-management.com/an-example-of-a-project-charter/

Gap researchess

https://www2.cdc.gov/cdcup/library/examples-job_aids/GAP%20Research%20Compendium%20Charter.doc

   

APPROVALS

Moreover, It is the summary document that depicts the information such as new offering requests and request for proposal (Morris, 2010). There are some purpose for the preparation of project charter. It helps in ascertaining and allocating roles and responsibilities which are required to be fulfilled by management of project. This charter contains essence about the project along with understanding about the project. Main purpose of developing this charter is to ascertain objectives and constraints about the project. Project charter is used to authorize the project in order to ascertain focal point of the project. Inputs in this charter are developed by including project statement of work, business case, agreements, enterprise standrads and organisational assets.

  • It contains the objectives and constraints of the project.
  • It provides the directions regarding the solutions.
  • It contains the Identities of main stakeholders.
  • It pertains the target of project and its benefits.
  • It helps in In-scope and Out-scope of items.

Besides this, mainly the project charter is used in following three ways.

  • To authorise the projects(means classification on the basis of ROI or presents a comparable form).
  • It acts as the primary sales document for the project.
  • It acts as focal point throughout the project (base summary can be while team meetings and change control meetings).

Part 2: Planning (WBS)

Work Break Down structure (WBS): It refers to the deliverable project and organises the the team work into manageable sections. Work break down structure is a Hierarchical Decomposition of the total scope of work to be perform by the team project (as depends on delegation of authority to divide the work) in order to accomplish the project objectives in time efficient manner (Rose, 2013). WBS also provides the required framework for estimating the costs and controlling accordance with the guidance. The elements of WBS involves product, data and service and may be combination of thereof.

Work breaks down structures provides the framework for the natural development of project planning and control over the contract and on the basis of dividing the work among team, according to the capacity and strength of each employee and helps in completing job in time effective manner (Teller, Kock and Gemünden, 2014).

Part 3: Execution (Gantt chart)

Gantt chart: this chart was propounded by the Henry L. Gantt who was an American Engineer and Social scientist. The chart was propounded by him in 1917 in form of horizontal bar chart in order to develop the Production Control tool. Now the modern Gantt charts also shows the dependency relationships between activities and current schedule status. This chart is I form of horizontal bar chart which pertains the some data(regarding time intervals) on vertical axis (Unger and et. al., 2012). Gantt chart evaluates the the start and finish dates of the terminal elements of a project and summary elements combined with it to constitute the work break down structure.

Form the above informations WBS, network diagram and critical path is prepared which is defined as follows:

Part 4: Controlling

Code of Ethics and Professional Conduct:

A code of conduct is the documentary guidelines which helps the professionals to conduct business honestly and with integrity (Portny, 2017). This documents show the mission and values of the organisation, the ethical principles are based on the organisation's values and standards by which the professional has to follow. It acts as the 'ethical code' covered the areas of business ethics, a code of professional practice and an employee code of conduct. for example, on every new job a person or employee are given a code of ethics for that specific company, explaining the rules and regulations of company which company expect to from each employee to follow it.

Professional conduct is the set of regulations of members of professional bodies or the members of high level authority who enjoys statutory or contractual powers. The professional conduct regulating and managing by the private professional bodies, these bodies establishes the codes of conduct and ethical codes as a principles guidance for high level authority and for middle and lower level authority (Wysocki, 2011). As in case of Mark fields the company has not authorized the Mark to read the other people's emails, web logs or other personal files. But however while installing the software Mark incidentally comes across directories containing files with suspicious names. Then mark opens a few of the files and discovers the suspicious data (pornographic data).

Breaking down of code of Ethics and professional practice:Every type organisations have some code of ethics which the employee or the member has to follow. Violation of the code of ethics leads to in the termination or dismissal from the organisation. As in above case the Mark opens the personal files while installing the software not intentionally, first the violation of professional ethics that member should not opens or discovers the personal data(files, web logs, emails) of the employee and for this the authority must take appropriate actions regarding this and can be terminate and dismiss the Mark from the organisation. But the by this event, one principle of code of ethics violated by the employee, as his files contains the pornographic data which is irrelevant and suspicious (Carnall, 2018). The authority must take major action regarding this because it affects the working environment of the organisation. Organisation must treat the violation by employee as inconsistent with the membership of organisation. Moreover the organisation should take actions regarding this violation according to the Code of Ethics and Professional Conduct Enforcement Policy of the company.

Mark have to proof that while installing the software in order to get the information regarding the installation, he come across the directories and opens the files contain suspicious data without any intention of violation of code of ethics and unintentionally violation of code of ethics, it becomes the advantage for the organisation to know about the suspicious data saved by the employee. Mark can justify himself for unintentionally practice done by him but, the organisation must take the major action against the employee.

Part 5: Closing

The closing procedure mainly associated with creating plans and negative aspects with protect plans (Pinto, 2014). overall analysis comprises the significance of project management in organisational context.

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REFERENCES

  • Boud, D., Cohen, R. and Sampson, J. eds., 2014. Peer learning in higher education: Learning from and with each other. Routledge.
  • Cervone, H.F., 2011. Understanding agile project management methods using Scrum. OCLC Systems & Services: International digital library perspectives. 27(1). pp.18-22.
  • Chou, J.S., 2011. Cost simulation in an item-based project involving construction engineering and management. International Journal of Project Management.29(6), pp.706-717.
  • De Bakker, K., Boonstra, A. and Wortmann, H., 2010. Does risk management contribute to IT project success? A meta-analysis of empirical evidence. International Journal of Project Management. 28(5). pp.493-503.
  • Flyvbjerg, B., 2013. From Nobel prize to project management: getting risks right. arXiv preprint arXiv:1302.3642.
  • Jafari, M and et. al., 2011. Development and evaluation of a knowledge risk management model for project-based organizations: a multi-stage study. Management Decision. 49(3). pp.309-329.
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