Task 1Question 1Projects, usually, are categorized into three different types:market driven, change driven and crisis driven, based on their respectivefunctions and usages.
By definition, change driven projects are expected tomeet certain goals in order to change operation to match the environment;crisis driven projects are usually anticipated to response to urgentsituations, such as the evacuation of a terrible natural disaster. The projectin task 2, in my opinion and based on the Managing Projects (2014, p7), shouldbe defined as market driven project, which uses new technologies to produceproducts that meets the market needs to increase competitiveness. Furthermore,this project, as addressed in task 2 briefing that it is partially considered bythe company as a response to the effects of globalization, should becategorized as market driven project. Question 2Defined by Project Management Institute (2013, p51), “Project ScopeManagement includes the processes required to ensure that the project includesall the work required, and only the work required, to complete the projectsuccessfully”. The scope statement should first include project justificationor the benefit of building a new site and introducing new technologies; second,product description that briefly documents the characteristics of the product;third, the deliverables: sub-products or tools will be used to make the productsuccessful; fourth, project objectives which include cost, schedule, andquality.
The most important tool that will be used in to show the sub-divisionof the scope of work is a Work Breakdown Structure. A Work Breakdown Structure definedby Pinto and Jeffrey (2015, p173) is “a process that sets project’s scope bybreaking down its overall mission into a cohesive set of synchronous,increasingly specific tasks.” In other words, WBS helps the project teamunderstand the steps and details that are required to make sure the completionand success of this project. Question 3 Gantt charts are an easy method topresent beginning and end of a project. It also helps managers to scheduledifferent tasks and track the progress of the entire project. The advantages ofcreating and using a Gantt chart is that it helps managers monitor and controlthe progress of the project because Gantt chart shows prerequisites for eachseparate activity.
It helps managers set priorities, notice what needs to bedone first in order to continue the progress, and make changes to the presetschedule and plan. By identifying a critical path— “series of interdependentactivities of a project, connected end to end” (Pinto, 2015, p332), managerscan determine the shortest total length of the project. By looking at thecritical path, managers will clearly see what tasks need to be finished beforethe next dependent one can start, so if a critical task cannot be completed ontime, the whole project will be delayed, vice versa.
Question 4 Generally speaking, the success of aproject must be based on the consideration of key factors that define the verynature of a project (Pinto, 2015, p36). Time—can theproject be finished on time or even earlier than expectedBudget—did thecost meet our estimation or budgetQuality—whetherthe outcome of the project meets the specifications of the requirementsScope– work that needs to be accomplished to deliver a product, service, orresult with the specified features and functionsDefining success of a project can be hard sometimes, since differentpeople will take different elements into account. Therefore, comparing thefuture outcome of the project (products or services) with time, budget, andquality all combined together is probably the easiest way for thedetermination.
Question 5 Usingrisk management, which is a four-stage process—identification, analysis,mitigation, and control and documentation (Pinto, 2015, p245), can be helpful. First,management team must know what the risk could be and what might cause them tohappen. Second, a risk impact matrix should be constructed to reflect allidentified project risks, each prioritized according to the probability of itsoccurrence (Pinto, 2015, p248) in order to have a general idea of the risklikelihood and consequences. Third, after analyzing the risks, use differentstrategies to transfer—for example liquidation; minimize—reduce the damage tominimum; accept the risk if its damage is minor and if it is not avoidable; orshare risks by bring in investments or contracts that legally require risksharing. Finally, use control and documentation system to classify and codifyvarious risks for referencing. This helps managers make quick and effectivedecisions if similar events occur in the future (Managing Projects, p127).Question 6 In order to make sure that project intask 2 is completed successfully on-time and within budget, project evaluation,monitoring and control method should be implemented.
This method allowsmanagement team stay on top of a project’s changing status as it moves throughdifferent life cycles toward its completion (Pinto, 2015, p453). First methodcan be used is milestone analysis. Milestones of a project representsignificant stage completion during the process of the project. It can motivatethe project team, make changes to meet new objectives, help coordinateschedules with suppliers and vendors, notify other team members to begin theirpart, and develop a better overall view of the project. Another method iscalled tracking Gantt charts.
By doing so, project team can constantly updateproject’s status by linking task completion to the schedule baseline. TrackingGantt charts helps project management team monitor specific activity startingand ending date, thus make adjustments to ensure project can be finished ontime, if necessary. Now more and more companies use EVM—earned valuemanagement, to monitor and control their projects, because it is believed thatit is necessary to consider the impact of time, cost, and budget all togetherto determine the current status of a project. Unlike other methods, EVMprovides integrated information for managers to have a better understanding ofthe current situation and to determine what changes have to be made (Pinto,2015, p460).
TSK Bearings Project Management ReportIntroduction To and increase automotive industrycompetitiveness, TSK Bearings Ltd has decided to introduce new technology andmachinery, transferred from Asia, into a manufacturing site within the UK aspart of a strategy of expansion. This project must be completed by March 2018with a 12 million GBP budget including the purchase and building of amanufacturing site, and training and recruitment of team members for thesuccess of project completion and of new technology implementation. In thereport, project life cycle—concept, development, implementation, andtermination—along with management skills, will be the main theory used toexplain and describe essential activities, during the management process,required to successfully manage this new initiative, ensuring that it ison-time, and within budget. Concept Stage1. Defining objectivesIn this stage the entire team need to get a basic idea of theproject’s objectives.
First thing to start with as a manager is to have a clearunderstanding of the objective which is to make sure that the building of newmanufacturing site and the transfer of new technology will be accomplishedwithin the time and budget limitations with specific quality requirenment. Atthe same time, opinions or anticipations of stakeholders or owners of thisproject must also be taken into consideration, because the difficulty ofachieving total success derives from the hardship of the objectives and therequirements of many different groups of stakeholders for the project (Maylor,p76). For example, some stakeholders emphasize more on the short-term rate ofreturn, others may focus on long term development of the company. It isimportant to balance and finalize, and have a specific and clear direction thatmembers can work towards, otherwise project may fail during its process. Thisproject does not only serve the purposes of catching up with new production technology.
This project “establishes a sense of what the organization hopes to accomplishor what top managers hope it will become at some point in the future (Pinto, 2015,59),” because as mentioned in the task 2 brief, it considers expandingproduction capacity as its organizational strategy for the future. 2. Management team and required skillsQuality of a team determines how successful can a project be.
Inother words, team members and teamwork is crucial to project management. Wemust work within teams, and we must build our teams in such a way that memberscan and will work together cooperatively to complete the project. An effectiveteam could be described as any group of people who must significantly relatewith each other in order to accomplish shared objectives (Michael, 2008). Teambuilding should start as early in the project life cycle as possible—in theconcept stage, because the performances of everything that comes up in thefollowing stages will be based on the efficiency and effectiveness of the team.Thesuccess of a team can be influenced by two important factors: leadership andindividual skills and attitudes. Addressed by Harvey Maylor (2011, 268),”leadership involves the influencing of others through the personality oractions of the individual”. Manager is the dynamic, life-giving element inevery business.
Without his or her leadership, the materials and labor ofproduction remain what they are and never become products. Manager leads theteam by obtaining resources for the team, motivating team members, having avision for the project, and communicating with team members (Pinto, p139). Asthe manager for this project, I will need to be familiar with each member’scapability, and at the same time build up a relatively good communicationchannel with each member.
This can facilitate appointing personnel to separateactivity when work breakdown structure is introduced. For individual teammembers, they are required to train in Asia for potentially 12 months to gainknowledge, experience and assist the implementation of the new technology.Since team members are to be recruited from existing company staff with somemembers recruited externally, as mentioned in the task 2 brief, cooperationbetween internal and external members. I, as the manager of this project, playimportant in making sure our team is fully functional without any conflicts betweenteam members.3. Cost estimationNothing can be done without sufficient resources. Withinlimited budget (12 million pounds), manager of this project must devise anestimation of required resource as sophisticated as possible.
Resourcelimitation, as one of the constrain, includes both money and people. Since wealready have existing team members, initial project cost estimation andbudgeting—the financial part—are extremely important elements in the project. Itis essential to estimate cost before the project starts, because it creates areasonable budget baseline for the project and identify project resources as(Pinto, p279). Cost estimation also relates to scheduling or time management,because “if necessary, additional resources will be added to the project to hitcritical launch window (Pinto, p423).” Meanwhile, cost over estimation shouldbe avoided. If estimation exceeds actual resources required for the project,wastes will be generated, thus leading to less profit or even potential failure.
After full assessing the activities mentioned above anddetermined that the project is feasible, manager need to obtain approval forthe next stage, which is the development stage. Development Stage1. Development scope baselineA scope baseline is a document that provides a summary descriptionof each component of the project’s goal, including basic budget, end productquality, and schedule information for each activity. Scope baseline showsdetailed goals for the team members to focus on. It reflects a team’s besteffort in creating the documentation and approval of all important project.Creation of the scope baseline is the final step in the process of laying outall pre-prepared knowledge about this project, in which each sub-activity ofthe project has been identified and given its control parameters of cost andtime table (Pinto, p173). The establishment of scope baseline not only set aspecific objective for the team to achieve, but also serves as a tool formonitoring and control in the future. By looking at various activities andtheir requirements and specifications, manager will be able to identify andmake adjustments during the process to determine whether the project is workingtoward its success.
2. BudgetingEven though cost estimation gives us a general idea of how muchresources are required in achieving project objectives, budget development identifiesthe detailed resources, the project’s goals, and the timetable that allows anorganization to achieve those goals. A budget helps in planning actualactivities by making managers to consider how the situations might change andwhat changes should be made, and by encouraging managers to consider problemsbefore they show up. It also helps to organize the activities of the company bymaking managers to carefully check the relationships between their own tasksand those of other departments of the company. In this project, activity-basedcosting method should be implemented. It assigns cost first to activities andthen to the project based one each project’s use of resources (Pinto, p296). Inthis project, budget can be separated into two parks: new manufacturing site,and team member training and new technology transformation. Within the 12million pounds project budget, resources should be allocated effectively intoeach individual activity, such as purchase of construction material, laborcost, purchase of new machinery, etc.
The entire project team need to befamiliar with respective cost of each activity to optimize limited resources,because the implementation of monitoring and controlling can be much easier ifany potential event occurs that may benefit or harm the project, 3. Work breakdown structureWork breakdownstructure is a deliverable-oriented grouping of project elements whichorganizes and defines the total scope of projects (Pinto, p173). Work breakdownstructure provides management team with a clear view of how many individualactivities are needed for the completion of the entire project. Eachsub-activity represents an increasingly detailed description of a project elements.After creating a work breakdown structure, team members can be appointed to beresponsible for each task, and cost can be allocated to different activities,which helps determine and make adjustments to budget during the process.
Furthermore,work breakdown structure can facilitate the creation of schedule by using Ganttcharts and identifying critical path for different activities. Work breakdownstructure can be crucial to the project, because apoorly constructed WBS can result in adverse project outcomes includingongoing, repeated project re-plans and extensions, unclear work assignments,scope creep or unmanageable, frequently changing scope, budget overrun, misseddeadlines, and unusable new products or delivered features (Brotherton, 2008). 4. Assessing risks Riskanalysis and management is a very important project management part to makesure that the least number of surprises occur while the project is during itsprocess.
While we can never predict the future with certainty, we can apply asimple and streamlined risk management process to predict the uncertainties inthe projects and minimize the occurrence or impact of these uncertainties (Lavanya,2008). However, there’s a problem in assessing risks is that risks are possiblefuture events that have not yet occurred, thus their probability of occurrencecan only be estimated (Hillson, 2004). For example, the possibility of naturaldisaster that may delay the construction of new site cannot be determined, eventhough previous weather data will be taken into account. Therefore, whenassessing risks, we need to take precaution, because overestimate thepossibility of risks may discourage team members and allocate unnecessaryresources for response plan. ImplementationStage 1. Organization communicationAs we mentioned before, communication within the management team isextremely important to make sure that the project is on its right track, organizationcommunication need to be emphasized at the same time. The project of a company,in this case building a new production facility, needs cooperation within theentire company to ensure its success.
First of all, in order to make sure everystep taken during the process of successfully accomplishing the project,employees of the entire company need to be able to work together smoothlywithout any conflicts or arguments. Trust between members or managers fromdifferent departments can create a sense of transparency. Where keepingemployees in the dark can result in resentments, tension, and a feeling of notneeded in the organization, which may lead to consequences no one anticipates. Goodorganizational communication can also facilitate changes or adjustments thatmust be made during this implementation stage. 2. SchedulingThe project needs to be completed by the end of march 2018 with a 12months team member training for knowledge and transfer of the new technology ofnew machinery. Gantt charts and critical path should be used as main techniquesfor coming up a sophisticated schedule.
Gantt charts are an easy method topresent beginning and end of a project. The advantages of creating and using aGantt chart is that it helps managers monitor and control the progress of theproject because Gantt chart shows prerequisites for each separate activity. Ithelps managers set priorities, notice what needs to be done first in order tocontinue the progress, and make changes to the preset schedule and plan. By identifyinga critical path— “series of interdependent activities of a project, connectedend to end” (Pinto, 2015, p332), managers can determine the shortest totallength of the project. By looking at the critical path, managers will clearlysee what tasks need to be finished before the next dependent one can start, soif a critical task cannot be completed on time, the whole project will bedelayed, vice versa. 3. Monitoring and controlDuring the implementation stage, each individual activity need to becarefully checked before the project keeps going.
Project performances must bemonitored and measured regularly to identify variances from the original plan.This procedure involves cost management, quality management, and riskmanagement and so on. To make sure everything goes with the plan, severaltechniques need to me introduced: project s-curve, milestone analysis, andtracking Gantt charts. The project S-curve represents the typical form of sucha relationship. Milestone analysis signals the completion of important project steps,motivate the project team, and offer points at which to reevaluate client needsand any potential change requests (Pinto, p455). If time and cost spend are notproperly monitored, the project may be dragged without regarding the schedule,which in turn results in over budgeting, waste of resources, and bad quality. Poormonitoring and control of a project could negatively impact the project’s objectiveaccording to the original management plan.
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