Assignment Sample (BT7073) Fundamentals of Project Management
Introduction
A fundamental part of this project administration is including also circumstances of the project which support calculating the budget of the cost including the given time period with characteristics. In addition, it is recognized that the exact initiative of the strategy of the project has an important part to complete the project by the deadline.
However, the calculation requires to be related to the project that needs a skilled and eligible project manager. This research also interprets the whole project program with the approximate project budget, the characteristic of the project, and the deadline.
However, it also delivers appropriate knowledge about the circumstances of this project for a particular institution and formulates a sharp understanding of each project in detail. Thus, it also told that creating a reasonable plan for the project is essential for utilizing the all facts connected with the management of this project.
1. Definition of project/Risks and Parameters
A. Iron triangle parameters
In this project, a parameter that is the iron triangle has a vital role because it enables to execution of the task in a useful way. In addition, it is also established that adequate project planning is essential for delivering the assignment in the provided time.
On another side, an analysis of the budget of the project is a significant portion that assists to avoid the excess cost of the specific project. In that time, it is seen that a reasonable initiation in the plan of the project and analysis of the project expenses is helpful for regulating the aspect of this given project as well as assisting to provide the assignment within the provided time (Meredith et al., 2020).HTTP://(BT7073) Fundamentals of Project Management
In order to calculate the expense of the project, this is essential to adopt this commitment for a manager who is skilled enough so the analysis may be performed almost to the real cost of the project. On the opposite side, the deadline of a project is a significant part similarly which enables to fulfill the consumer.
The satisfaction of customers has taken a significant position in order to increase a profit margin and improve market earnings. In this respect, to increase the margin of profit the Automation prospect requires the expansion of innovative features of technology so that it assists to provide the assignment within the given time.
At that time, furthermore, it can be found that the initiation of the assistance has generally given the reasonable planning that assists to establish the organizational culture and give the initial suggestions to stimulate the services and products, facilitating the assistance is also a beneficial procedure to organize the help and build strong communication with the potential customers (Mughal et al., 2019).HTTP://(BT7073) Fundamentals of Project Management
Powerful dealings with the customers is an important part because it assists to manage the exact initiative of the plan which is beneficial to establishing the organizational services and managing the time structure. On another side, this is also seen that a project manager is connected also with the administration style that is advantageous for organizing the assignment and managing all of the actions in a proper manner.
Besides, the computation of the budget of this project is also a significant part that enables it to resist the excessive expense of the specific project. Moreover, the project budget analysis leads to effective as it enables to provide the task and is beneficial to manage the given time for the project in a proper manner, at that similar time, this is seen that a reasonable initiative for the plan of the project and analysis of the expense of the project is beneficial too for governing the
characteristic of this given program, as well as that, also enables for providing the assignment in the given time (Pollard, 2019).HTTP://(BT7073) Fundamentals of Project Management Thus, it may be told that by the innovation of the plan of a given project, an organization must be taking great responsibility for a given program, so this may transmit in time.
At the same time, this is seen that an exact initiative for the strategy is moreover helpful for creating a decent improvement of a reasonable deduction of this project in the deadline. The company is also required in concentrating on the proper deliverable process of the project with confirmation of quality (Lock, 2020). http://(BT7073) Fundamentals of Project ManagementThe product standards are the most important portion that supports strengthening the procedure of consumer satisfaction and delivers a reasonable explanation of different types of problems that happen in the threat file.
Figure 1: Iron Triangle
(Created by Learner)
Scope: The project focuses on the development of designing a project for the TTF PLC to construct a new engineering plant for the train manufacturing process.
Resources: Human resources, Cost, project management, and raw materials are the major resources that are being used in the project development.
Schedule: It is estimated that for this project minimum of 17 weeks time will be required for the project.
B. Risk register
Fig: Risk Register Table
Source: Self-made
2. Costs and planning
A. Diagram of a network
A diagram of the network is the extensively powerful path for specifying the vital direction along with the assistance of the movements of the project. Besides, analyzing the various project service as it consists of the capacity to create the process improvement of the project (Poston and Richardson, 2019).
http://(BT7073) Fundamentals of Project Management Along with it is also recognized that the whole procedure of the given table may be helpful to find out a substantial direction afloat (Abah and Esq, 2019). Similarly, the full procedure is also useful for creating improving of the technique and delivering the project with the assurance of outstanding quality.
Network Diagram
B. Gantt chart
It relies on the image and provides information about the activity flow for each piece of information. It may also be due to the fact that Gantt cards are so versatile as well as heavy and shaped (Rowe, 2020).http://(BT7073) Fundamentals of Project Management
We strongly encourage them to take these actions and provide a detailed description of the duration of the work. Today’s policies should take into account the actual implementation of this organization. A well-organized organization can help. This can be seen as a successful breakthrough in a successful program, such as managing the organizational foundation and providing relevant information for each project.
Of course, the acceptance of all the tools required contributes to the accuracy of the delivery (de Oliveira and Rabecini r.unior, 2019), but the research is expected to be relevant to the project described. The Research Program explains the establishment of projects based on job budgets, product quality, and deadlines. It also contains information on project needs for each organization and develops detailed information on each project. Therefore, it can be said that the appropriate training plan should be developed to understand all the aspects that come with project management.
C. Provide a detailed project budget
The US budget also includes an important O role, which is useful for estimating the cost of any budget. This action required participation at the beginning of the season, which could help pregnant women manage their budgets and increase their efficiency. In addition, R can be considered an accessible space.
Accordingly, n was established at the beginning of the month in the United States in addition to significant work n on consultation, cost reduction, and budget regulation (Shad et al., 2019). http://(BT7073) Fundamentals of Project ManagementCustomer satisfaction in the United States plays a vital role in the proposed order.
Increase the profit line and increase market turnover. With this in mind, in order to increase the limited benefits of promising growing automation, innovations build up some technical aspects of something that can be relevant when preparing a project in need.
Different colors – ONCE once you can get them Early help was specifically provided with appropriate plans to strengthen the organized culture during pregnancy to manage resources and establish a strong dialogue with the client (Shin and Shin, 2019).http://(BT7073) Fundamentals of Project Management Strong Customer Relationships Strong Limitation DCDB enables pregnant women to pursue an initiative that complies with US pregnancy management rules.
3. Spending and progress management
A. Table to compare planned progress and actual progress.
The budget of the project is an important part that allows you to calculate the cost of the entire budget. It is a very important moment in the beginning because it encourages you to plan your budget and strengthen it effectively.
In addition, the adequate start-up of this project plays a vital role in the development of plans for the project and ignores the speed of the project. In this regard, it has been shown that budget creation can also be useful as it helps to reduce costs and increase project implementation (Tabatabaei and Cuellar, 2019).http://(BT7073) Fundamentals of Project Management
Customer satisfaction has played an important role in increasing revenue margins and generating market revenue. In this context, the prospect of for-profit automation must develop innovations in technology features to secure the company within a certain time frame. When extended, this is done with the help of this technology that allows you to deliver the method.
The company will therefore focus on the fair operation of projects that can be ensured with quality assurance (Derakshan et al., 2019). HTTP://(BT7073) Fundamentals of Project ManagementThe product description is a very important factor that helps to maintain customer satisfaction and offers a suitable solution if there is any risk on the risk list.
In addition, it was found that the research focused on a variety of responsibilities and that the staff was careful to ensure that the project was implemented correctly. At the same time, it can be seen that the start of the project should be at a certain time that supports the delivery of the project, the quality of the project, and the right organization.
On the other hand, completing the project necessary to improve the quality of the product. In order to complete the project, the agency needs to appoint some trusted professional leaders.
B. Prepare and provide a revised GANTT chart
It has been confirmed that all research is focused on the organization of the project, depending on the form above. It is expected that three significant doses will be considered reasonable in this project (Wilkerson, 2020). HTTP://(BT7073) Fundamentals of Project
management, In addition, it can be acknowledged that the fair start-up of this project plays a vital role in creating tools for this project and ignoring the disproportionate cost of the project. In this regard, the project was created to be useful and it also helps to reduce costs and maintain the success of the project accordingly.
Customer satisfaction has played an important role in deciding to increase margins and increase market revenue. On the other hand, it has also been shown that a project manager must develop personal skills in order to be able to manage them in some serious way (Dwyer et al., 2020).HTTP://(BT7073) Fundamentals of Project Management
It is also said that the fair implementation of the project should be monitored with the help of a tool developed with price analysis so that a higher authority and project manager can manage the project.
Value analysis
A. Create a table showing ACWP, BCWP, and BCWS values
Earned value analysis can be considered one of the most useful tools in planning project tasks. With the use of this tool, the manager of a project can easily trace the entire tasks that are related to the project.
The tool is beneficial for the project as it helps the project manager to calculate valid outcomes of the BCWS, ACWP, and BCWP. The analysis gives the entire data that is related to the project and maintains the update of the project.
Holding is an important process as it helps one to realize the accountability that the workers have to the organization or the project. It is also useful as it identifies the task of the employees and motivates them in working towards the accomplishment of the task.
Along with this, it is also helpful as it helps in recognizing the techniques that are required to stimulate the project and the process of delivery (Eom, 2020).http://(BT7073) Fundamentals of Project Management
An organization should always implement this while they are conducting a project to find a concrete result for their project and mitigate the issues that are related to the project deliverables. The tool helps in assuring the quality of the deliverables and that the characteristics of the product are significant.
It also helps in supporting the procedure and providing the project with satisfied customers. The tool also enables solving the problems and mitigating the risks related to customer satisfaction. This portion has largely furnished details about the calculation associated with the ACWP, BCWP, and BCWS.
ACWP: Actual cost of work performed = 48.70
BCWP: 75%*48.70=36.525
BCWS: 75%*38= 28.5
B. Estimate at Completion
Analysis of the budget of this project has also a significant role that enables us to resist the over-expenses of that specific project. In addition to this, the estimation of the budget of the project also is productive as it works for the delivery process of the task beneficial for maintaining the given time called deadline for the project in a reasonable manner.
At that same time, it is also seen that the adequate initiation of the plan of this project and the estimation of the cost of the project is too effective for managing the characteristic of the project as well as assisting to provide the assignment within the given time. In direction to calculate the cost of the project,
it is essential to accept the duty of a skilled and qualified manager so that the analysis can be performed properly and the result is nearest to the actual cost of the project cost (Fernandes et al., 2020). HTTP://(BT7073) Fundamentals of Project ManagementThis Portion, gives brief circumstances about the measurement of project fulfillment with the assistance of Earned value analysis.
The formula is:
The formula is:
Estimate at completion (EAC) = BAC (budget at completion)/CPI (cost performance index)
EAC= 48.70/2.8
EAC= 17.39
Projected final spend
The fundamental things of this project management are included with details of the project which support the calculation of the budget of cost along with the deadline of the project as well as characteristics.
In expansion with this, it may also be seen that the reasonable initiation of the plan of a project has an important role in ruling to finalize the project within the time frame that is given. In expansion to this, it is found that the research is also focused on the various duties and taking the attention of the workers for delivering the project properly.
At that same time, it may also be recognized that the initiation of the project has to include the project deadline, project quality, and planning that helps the workers to provide the project within the given time (Gemünden et al., 2020).http://Fundamentals-of-Project-Management-BT-7073 This portion comprises a report that is detailed about the ultimate spending that is connected to the real cost of the project.
Final spend= EAC-AC (Actual cost)
Final spend =48.70-17.39
Final spend = 31.31
Recommendation
Customer satisfaction has playing an important function in ruling to increasing the margin of profit and gaining market revenue. In this respect, to increase the profit margin the Automation prospect requires expanding the creation of technological characteristics so that it helps to provide the assignment within the given time (Kock et al., 2020).http://Fundamentals-of-Project-Management-BT-7073
Though, it also furnishes related information regarding the project circumstances of a specific organization and expands a powerful perception of each project detail. Thus, it may be explained that formulating a reasonable project plan is essential for managing all the circumstances connected to project administration. Established on the before the discussion.
it is also seen that the whole research is connected to the plan of the project and gives a thorough summary of the completion of the project. For completing the project it is essential to organize the workers with the support of the management process. It can also be suggested that the leadership style requires to be accepted by the project manager so that the workers can be governed properly (Gustafsson et al., 2019).http://Fundamentals-of-Project-Management-BT-7073
Conclusion:
Hence from the above discussion, it can be concluded that the project manager has to improve their personal abilities so that he/she can manage any type of serious situation.
In expansion with this, it is noticed that the adequate performance of the project also requires to be traced with the support of the earned value analysis method so that the higher authority and project manager can provide the task.
Part B: Reflective essay
Based on the discussion above it is seen that the whole research was concentrated on project planning. In the project, there are three greatly significant portions that are expected to be taken attention in a proper way. In expansion with this, it is found that the research is also concentrated on the several duties and taking attention of the workers for delivering the project properly.
It can also be identified that the project initiation includes the deadline, project planning, and quality that enables providing the project by the desired deadline. On the other side to complete the project it is essential to strengthening the quality of products. To achieve the project, the organization has to appoint some trustworthy and skilled managers.
According to the present scenario, the iron triangle parameters of the project are generally established in three several parts such as product quality, total cost, and the deadline of the project. From the viewpoint of the project quality, it is the vital portions that assist to create a reasonable delivery to the consumer.
Depending on the case study, it is seen that the Automation aspect is one of the governing institutions founded in London that has contained the technological device (Kerzner, 2019). http://Fundamentals-of-Project-Management-BT-7073This organization is also a software and product-based institution that deals with other organizations for improvement. Though in ruling to finish the project, it is important to develop a reasonable project plan to provide an excellent product and fulfill the expectation of the customer.
Moreover, the whole procedure is also helpful to create the improvement the procedure and provide the project with outstanding quality. As per my viewpoint as a program manager, I want to take attention to the satisfactory process of customers regarding the standard of the project. In expansion with this, to finish this I also took attention to the dealings between others. Interaction is a significant portion of the business that assists to formulate powerful communication with others which is why the workers can interpret the project properly.
It has also been observed that to finish the project it is essential to appoint a decent and skilled project manager. In my point of view, the manager of the organization requires to take all the duties so that they can govern the task and provide it within the deadline. On the other side, it is also seen that the project manager is also associated with the administration style which is beneficial to regulating the task and strengthening all the actions in a reasonable way.
Besides, the analysis of the budget of the project is also a vital part that assists to ignore the excessive cost of that specific project. Besides, the calculation of the project budget can be useful as it enables to provide the assignment and productive to strengthen the deadline of the project in an applicable way.
In that time, it is observed that the exact initiation of the plan of the project and analysis of the project cost is helpful to regulate the aspect of the project as well as assist to provide the task within the given time. According to the current scenario, as a project manager, I also want to interact with the project members and desire to distribute the task between them cultivating powerful communication between every member of this project.
However, it can also be seen that strengthening the workers is essential as it helps to understand their assignments and distribute them properly. In the same period, it is also observed that to organize the assignment the project manager requires to trace the work improvement on an everyday basis.
References:
Abah, R.C. and Esq, E.C.O., 2019. The Importance of Enterprise Risk Management to Public Sector Organisations in Nigeria.
de Oliveira, G.F. and Rabechini Jr, R., 2019. Stakeholder management influence on trust in a project: A quantitative study. International Journal of Project Management, 37(1), pp.131-144.
Derakhshan, R., Turner, R. and Mancini, M., 2019. Project governance and stakeholders: a literature review. International Journal of Project Management, 37(1), pp.98-116.
Dwyer, J., Liang, Z. and Thiessen, V., 2020. Project Management in Health and Community Services: Getting good ideas to work. Routledge.
Eom, M.T., 2020. Importance of Project Manager’s Leadership in IT Project Scope: Empirical Study.
Fernandes, G., Pinto, E.B., Araújo, M. and Machado, R.J., 2020. The roles of a Programme and Project Management Office to support collaborative university-industry R&D. Total Quality Management & Business Excellence, 31(5-6), pp.583-608.
Gemünden, H.G., Kock, A., Schultz, B. and Kopmann, J., 2020. Project Portfolio Management Information Systems’ Positive Influence on Performance–The Importance of Process Maturity.
Gustafsson, S., Hermelin, B. and Smas, L., 2019. Integrating environmental sustainability into strategic spatial planning: the importance of management. Journal of Environmental Planning and Management, 62(8), pp.1321-1338.
Kerzner, H., 2019. Using the project management maturity model: strategic planning for project management. John Wiley & Sons.
Kock, A., Schulz, B., Kopmann, J. and Gemünden, H.G., 2020. Project portfolio management information systems’ positive influence on performance–the importance of process maturity. International Journal of Project Management, 38(4), pp.229-241.
Lock, D., 2020. Project management. Routledge.
Meredith, J.R., Shafer, S.M., Mantel Jr, S.J. and Sutton, M.M., 2020. Project management in practice. John Wiley & Sons.
Mughal, M.A., Bahaudin, A.Y. and Salleh, N.A., 2019. Importance of Top Management Support in Its Project Success in Pakistani Context. Journal of Research in Administrative Sciences (ISSN: 2664-2433), 8(1), pp.26-30.
Pollard, C.E., 2019. Lessons learned from client projects in an undergraduate project management course. Journal of Information Systems Education, 23(3), p.3.
Poston, R.S. and Richardson, S.M., 2019. Designing an academic project management program: A collaboration between a university and a PMI chapter. Journal of Information Systems Education, 22(1), p.6.
Rowe, S.F., 2020. Project management for small projects. Berrett-Koehler Publishers.
Shad, F., Shah, F.A., Jan, S. and Ahmad, S., 2019. IMPORTANCE OF COMMUNICATION IN PROJECT MANAGEMENT: A CASE STUDY OF COMMUNICATION & WORKS DEPARTMENT PESHAWAR. Sarhad Journal of Management Sciences, 5(2), pp.267-280.
Shin, M.J. and Shin, J.H., 2019. A Study on the Analysis of the Importance of Natural Landscape by the Development Project. Journal of Korean Society of Rural Planning, 25(2), pp.99-117.
Tabatabaei, M. and Cuellar, M., 2019. Perceptions Analysis of Importance and Skills of Effective Project Management.
Wilkerson, J.W., 2020. An alumni assessment of MIS-related job skill importance and skill gaps. Journal of Information Systems Education, 23(1),
