Project Management Assignment: Project Planning & Budgeting

Question

Task:
In this management assignment, you are required to prepare a reflection essay based on a management concept you have observed or practices and how it helped create value within the organization.

The backbone of a project manager’s work is the Project Management Plan. This plan is the document which describes how the project will be executed, monitored and controlled. It integrates and consolidates all of the subsidiary plans and baselines from the planning processes. In this subject, you will be creating components of a Project Management Plan for your selected Case Study.

Project Scope Management includes the processes required to ensure that the project includes all the work required, and only the work required, to complete the project successfully. Managing the project scope is primarily concerned with defining and controlling what is and is not included in the project.

Project Time Management includes the processes required to manage the timely completion of the project. Plan Time Management is the process of establishing the policies, procedures, and documentation for planning, developing, managing, executing, and controlling the project schedule.

Effective scope management is one of the key factors determining project success. Failure to accurately interpret a client's needs or problems will produce a misleading definition (scope of work). If this causes rework and additional effort, there may be project cost and time implications. Therefore, project success will be self-limiting if the scope of work is not adequately defined.

Scope and Time Management Plans
In this project management assignment, you will be creating subsidiary management plans of a Project Management Plan using the information found in the case study provided by your learning facilitator at the commencement of the subject. For Assessment 1 Part B, you are responsible for submitting the project scope and time management plans for the case study. The plans must contain, but not limited to, the following plan components:

• Project goals and objectives
• Project scope statement
• Work Breakdown Structure (WBS)
• Project schedule

For the project scope statement and WBS, you can use the templates found in this module’s Learning Resources or a format of your own. For the project schedule, you are responsible for submitting a schedule and a network diagram using the critical path method (CPM). Your schedule can be created using scheduling software e.g. ProjectLibre or Microsoft Project. Your network diagram can be handdrawn and scanned or created using drawing tools e.g. in Microsoft Word or PowerPoint.

Answer

Goals
As per the research on project management assignment, it is stated that the word project planning refers to the strategical plan for the completion of the work. in this context, the project planning goals are set to understand the prime features of the work by the schedule-wise completion of the project as per the specified time. The goal of any project is set by taking all the challenges chances to come while going on the project. In this case, the goals are set based on project planning and budgeting. The entire project has been scheduled five days within a week. Each day consists of eight hours of duty. Since the total work in a week forty hours. The planning of the project is determined by considering each step of the project schedule. The main part of the goals lies between analysis of the competitive report, reviewing sales report, Development of focus group data. All are these included within the specified goals of the project, each goal is consist of different time and planning for few weeks that are described in the scheduled manner. All the numbers refer to the number of weeks. In the case of conducting of technology capabilities assessment, it takes five weeks. That means the total time taken is twenty-five days. The above activity must be completed within the specified time. another goal that has come after the conducting of technology capabilities assessment is the development of group focus data, which takes two weeks that means the total time taken is ten days. The above activity, development of group focus data is followed by the activity A, B, C which is taken as the predecessor activities. The main goal is dependent on the time taken by each activity, where the main product of the project planning and scheduling is the outcome that is the completion of the whole project within the specified time. the main goal can be achieved by taking all the processes of scheduling by considering the time factor. The time of each activity is determined by considering the length of the work. all these activities must be completed within the provided period, then the outcomes can be achieved within the required time. For this timely completion of the project, all the mean probable path is graphically determined. From this graphical analysis, the project planning and budgeting are to be determined.

Objectives
In this section, the implementation of the above goals on the project planning and budgeting are fixed through some definite process.

1. To prepare a time plan for the analysis of the project planning and budgeting, that means the whole project within the specified time. the main goal can be achieved by taking all the processes of scheduling by considering the time factor.
2. To analyse the time taken by each activity to complete within the divided time for each activity. The main target of the activity of each of these included within the specified goals of the project, each goal is consist of different time and planning for a few weeks that are described in the scheduled manner.
3. To determine the best specified and shortest path of the project to achieve the outcome of the project. The process is developed to understand the best possible shortest way of completion of the project.
4. To determine the value of slack, the minimum value of the slack gives the shortest way of completion of the project planning and budgeting.
5. To understand the amount of time taken for each activity. each activity of the project consist of a various number of shortest activity. the process is developed from the time of each activity is determined by considering the length of the work. All these activities must be completed within the provided period, then the outcomes can be achieved within the required time.
6. To determine the process of time management for each of the project planning and budgeting. This process is the best way to understand the amount of time that can be saved from each of the activities. The process of time management can be determined by the project planning and scheduling process.
7. To schedule each activity under the predecessor activity, this process is done under the best possible way of completion of the project planning and budgeting. The scheduling can be done through the bar chart diagram or the Gantt chart diagram for decorating each activity according to their required time of finishing.

PROJECT SCOPE STATEMENT

Project schedule

WBS and Network Diagram
The network diagram is mentioned as below:

The critical path based on the case undertaken herein project management assignment is shown as below:

The WBS is shown as below: