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Importance of Project Management | Impact on Project Success

408 Downloads1 I Published: 01 Nov ,2019

Introduction

Project Management can be defined as the method which is used in order to organise all activities related to the project and its parts (Burke, 2013). QA Higher Education (QAHE) is a college in London which has completed the refurbishment of college for providing both the students and teachers a good learning environment. In the following assignment, firstly the project initiation document will be prepared which will contain many data regarding the project. Work Break Down Structure is also provided in the assignment for simplifying the process of dividing the work into small parts. Risk Register and Report will show about the risks included with project and the report will focus on the leadership quality in Project Manager.

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Task 1 Project Initiation Document

It is a document which is used for the purpose of bringing together and conveying all the key information needed to start a project to all concerned people.

Budgetary Information

In this Project, there are many tasks for which it needs amount to be invested in it such as for purchasing raw materials, purchasing resources, wages, salaries, commissions to the employees and managers or contractors. The Estimated amount in the Budget is £ 50,000.

Time Scales

The complete process of refurbishment is divided into many parts and the time limit for the completion of all tasks has been set up. On the very basis, the estimated Time Period for the completion of the Project is 6 Months.

Objectives

  • Accessing latest Technology to support Education and Learning.
  • Attracting Students from Diverse places.
  • Providing Excellent Learning Environment.

Approach

The approach used by the institution in completing this project is PRINCE2 Approach because it is adjustable, time efficient, cost efficient and helps in achieving goals and manage project effectively.

Key Staff

  • Employees
  • Project Manager
  • Labours
  • Contractors
  • Project Sponsor
  • Project Team Member
  • Business Analyst

Stakeholder Analysis

Stakeholders are those persons who have their own particular interest in the success of some project which is carried out by some organisation, institution. So for analysing the their interest, their favours and how their interest is managed is done by using the Stakeholder Analysis (Kerzner and Kerzner, 2017). It is an important process which refers to the range of techniques or tools to identify and understand the needs and expectations that the stakeholders does have in an organisation or institution. Stakeholders of QA Higher Education (QAHE) College are students, teachers, principal, teammates, contractors,, labours, suppliers, governments, resource managers are the stakeholders of the institution which are having their own particular interest in the project carried out by the company. The discussion of their interest, favour, and how the relationship in between them are discussed as under:

Name of the Stakeholders

Reason Stating their Interest

Whether they are In or Against you

What is done to Manage Them

Students

Students are interested as the completion of this project will provide them better ways of learning, and will get a better learning environment.

As this project is in favour and concern of the students so they are in with the project manager (Kerzner, 2017) .

They are provided with the key benefits of the project which they will have by making the changes in the way of learning.

Teachers

They are interested as they will also get better working environment than before which will motivate them to teach students in more effective way and with full interest.

The teachers are also in the favour of the project as they are also getting benefit from the project.

They are also provided with the changes which will be made and benefits which they will have once the project is completed such as technical advancements will lead to better way of providing teaching to students.

Principal

The Principal is interested because it will increase the reputation and attract new students to the college.

Principal of the Institution is also in the favour of the project.

For managing the interest of Principal, all the plans and actions related to the development of the project is provided to him and as per his opinions, the progress in the project has been made.

Teammates

They are interested as with this their skills, knowledge and experience will be enhanced which will help in their personal and professional development. They will also get the pay for their work. Employees, technicians, architect all are included in the teammates.

They are also in favour of the project as it will also provide benefits to them in future such as increase in their own personal skills and knowledge about the particular task they are doing (Marcelino-Sádaba, González-Jaen, and Pérez-Ezcurdia, 2015) .

The are managed by telling if they perform well in the work provided, than it will increase their future opportunities related to the work.

Suppliers

They are interested as they will receive payment for the raw materials supplier by him, as a source of his income.

They are also in favour of this project as the requirements of materials will be fulfilled by them which is an opportunity for them.

They are managed by managing interpersonal skills, reducing conflicts, negotiation related to prices of raw material among them so that their interest could be managed.

Contractors

They are interested in the project as they will get the brokerage and commission for their work they are doing.

They are also in favour of the project because this project is a source of employment to the contractors.

They are managed by telling them about the future opportunities which they can be provided if they are doing appreciable work.

Government

They are also interested in the project as they are receiving taxes which are a source of income for the government.

As the project is carried over for educational purpose so the government is also in the favour of this project.

This is managed by providing all the information related to the project to the government and the benefits arising out of it to students.

Resource Managers

They have their own interest in the project because good resources provided by them will improve his own efficiency and in case of future projects he will be provided with the same which is an advantage and reason for which he has his interest in the project.

They are also in favour of the project as it will make improvement in their efficiencies and skills which will help them to develop their career in future (Marchewka, 2014) .

Their interest is managed by maintaining proper relationship with them and also good interpersonal skills have an important role in influencing them in a positive way.

Task 2 Work Breakdown Structure And Gantt Chart

Work Breakdown Structure can be defined as a chart in which tasks of a project are illustrated to portray their relationships with each other and to the project as a whole. It helps is assessing outcomes of the project based on the graphical nature of the WBS. The WBS is used in order to manage the tasks properly and in an efficient way. It is so because it helps in making, defining, organising the scope of the project which is done by making use of hierarchical tree structure. This structure breaks down the the project objectives and tasks into smaller parts which helps in their measurement. And also the tasks and responsibilities are also provided to the employees on the basis of their skills and knowledge so the results of the task will also come positive which increase the effectiveness and efficiency of the project.

The Critical Path Analysis is very important as it reduces the risk and cost factor of the project. It id both a planning and decision making tool as it helps in handling complex works and also those tasks which are to be completed in a time efficient way.

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Task 3 Risk Register

Risk Register can be defined as the tool which is used for the purpose of documenting risks, and actions for reacting upon those risks (Martinsuo, 2013). As the risks are identified they are then recorded in the register and immediately their mitigation strategy is also prepared to minimise their effect.

Risk

Risk Level (L/M/H)

Likelihood of Event

Mitigation Strategy

Financial Risk:This is the risk which the company may suffer due to change in the prices of services, goods, raw materials, so it is mentioned as a risk which also affects the project.

 

 

 

 

M

 

 

 

 

May Be Possible

An additional amount has also been reserved to deal with this situation is in the budget statement of the project.

Time Scale of Project: It can be defined as the already defined time scale for the completion of the project within the time.

 

 

 

H

 

 

 

 

Certainty

Comprehensive project timeline plans are also created with frequent baseline reviews. The progress of the project will be checked on the regular basis.

Change in the Scope of Project: It changes when there needs to implement some changes in the project.

 

 

L (Mostly defined properly, subject to revision)

 

 

Unlikely

Scope is initially defined in the project plan. It is continuously reviewed every month.

Unrealistic Estimation of Cost:It means to say that sometimes the costs for certain goods or services can be taken as wrong.

 

 

L

 

 

Unlikely

It is already included in the project plan as an estimation but may be subject to some changes till some amendments are not made in the scope of the project (Meng, 2012)

Project Team Availability:It refers to the availability of skilled and appropriate number of staff in the team for carrying out the project.

 

 

 

M

 

 

 

May Be Possible

Continuous review on the needs and requirements of the project is taken into consideration, if needed than the may be called for overtime.

Unavailability of Resources:It refers to scarcity of resources for the completion of the task provided.

 

 

L

 

 

 

Unlikely

Proper checking about the availability of the resources on daily basis, so as to avoid this scarcity.

Change Management Procedures: It can be defined as the change in the policies and the ways of working of the manager or the administration of the project.

 

 

 

L

 

 

 

Unlikely

For dealing with this situation, efficient staff has been appointed to deal with the changing working environment.

Extra Working Hours: There may also arises a need for to work extra to make the completion of the project on time.

 

 

M

 

 

 

May Be Possible

 

They will be provided with extra incentives and bonuses to keep them motivated to work.

Technical Risk: In this risk, it is possible that there arises some technical issues in the working of machines or equipments.

 

 

M

 

Likely Possible

To deal with this situation, technicians and experts are already hired in the team.

Performance Risk: It can be defined as the non accomplishment of the task provided to the team members on time.

 

 

L

 

 

Unlikely

For dealing with this situation, the performance of the employees are measured on daily and individuals basis.

Task 4 Report To The Project Sponsor

  • A) The Project Manager is the head of the project and have all knowledge about what to be performed and when to be performed by whom to performed and many questions like this. So in his duty, to check their performance and guide them but it is also his duty to continuously encourage them, motivate them and increase their efficiency by proper guidance and showing them the right way to work (Mir and Pinnington, 2014) .

It is also important for the manager to be good leader as it will help in making successful the team work of all the employees and teammates who are working together for making the project successful. It is necessary to be more than a coordinator and administrator in order to get the work done in an effective and efficient way. The leader has the strong power to motivate and encourage the employees to work for the goal they are provided with. He will make this possible by making communication with them on regular basis. This will help them not to forget the purpose of their doing the task so that they can do the work with full efficiency. In addition to this, by properly communicating with employees, he can change their mindset and make them clear about the purpose of their working.

The application of leadership in projects is very essential in order to complete the project in efficient and effective way. There needs a person to convey these messages to the employees. This task will be completed with the help of a leader. Leaders are those persons who have strong influencing power to the mindset of others with the help of their words. Further it is essential to make clear the employees with the vision, mission, clarity in reason behind doing the project, practical in scheduling and the ability to attract and retain the talented employees in the team are all the qualities which a leader possess not the manager so it is very important to have leadership quality in successful accomplishment of a project. Leader is the only person to deliver the proper messages and purpose of their working towards the goal. For example, friendly working environment can be created by the leader so as to enhance their level of productivity and will be helpful in collecting their ideas and views (Morris, 2013).

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In the absence of the leadership quality in the project, than the employees will not get the proper direction and guidance to accomplish the work provided to them. Further the lack of this quality also brings the actual results equal to the desired result or lesser than that. But leadership quality makes it possible to provide the result which can also exceed the desired results.

  1. B) Analyse and Evaluation of PRINCE2 Approach

Basis

PRINCE2 APPROACH

Waterfall

Agile

Definition

This framework is used to organise and controlled stars and ends of the projects.

In this approach there are various phases which are needed to be completed before reaching to the next phase.

Agile is a methodology that practises and promotes the continuous repetition of development and testing throughout the software development cycle.

Size of Projects

PRINCE2 Approach is for large and medium sized projects.

Waterfall is used in case of medium sized project.

Agile method is mainly for medium and small scoped projects.

PRINCE2 stands for Projects in Controlled Environment. It is a framework which is used in order to control the whole project in an organised and controlled way. It can also be said as that this approach to project management focuses on organising and controlling the project from the starting to the end. PRINCE2 approach is the solution for a sophisticated project which has a wide range of stage driven processes which mainly focuses on the project benefits at each stage (Ofori, 2013). Further this approach is also recommended because it breaks down all the complex things into smaller parts.

STRENGTHS

WEAKNESSES

·It is the strength of this approach that this approach can be predictable.

·Standardisation is another strength that makes sure that there are no errors and omission in the project.

·It needs much time and effort to prepare the documents.

·The implementation of the changes may not be possible as it will effect other parts also (Svejvig and Andersen, 2015).

Conclusion

From the above given data it can be concluded that project management is very helpful for making the project successful. The contribution is also made by the stakeholders who have their own interest in the success of the project and also made contribution in their success. In addition to this, the use of work break down structure is also used for making the tasks of the project to be simple. In addition to this, PRINCE2 Approach is also used for making the complex tasks in the project to divide them into smaller parts.

References

Books and Journals

  • Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA.
  • Kerzner, H. and Kerzner, H. R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
  • Kerzner, H., 2017. Project management metrics, KPIs, and dashboards: a guide to measuring and monitoring project performance. John Wiley & Sons.
  • Marcelino-Sádaba, S., González-Jaen, L. F. and Pérez-Ezcurdia, A., 2015. Using project management as a way to sustainability. From a comprehensive review to a framework definition. Journal of cleaner production. 99.pp.1-16.
  • Marchewka, J. T., 2014. Information technology project management. John Wiley & Sons.
  • Martinsuo, M., 2013. Project portfolio management in practice and in context. International Journal of Project Management. 31(6). pp.794-803.
  • Meng, X., 2012. The effect of relationship management on project performance in construction. International journal of project management. 30(2). pp.188-198.
  • Mir, F. A. and Pinnington, A. H., 2014. Exploring the value of project management: linking project management performance and project success. International journal of project management. 32(2). pp.202-217.
  • Morris, P. W., 2013. Reconstructing project management. John Wiley & Sons.
  • Ofori, D. F., 2013. Project management practices and critical success factors–a developing country perspective.
  • Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management. 33(2). pp.278-290.
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