Task Managing Projects (2014, p7), should be defined

Task 1

Question 1

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Projects, usually, are categorized into three different types:
market driven, change driven and crisis driven, based on their respective
functions and usages. By definition, change driven projects are expected to
meet certain goals in order to change operation to match the environment;
crisis driven projects are usually anticipated to response to urgent
situations, such as the evacuation of a terrible natural disaster. The project
in task 2, in my opinion and based on the Managing Projects (2014, p7), should
be defined as market driven project, which uses new technologies to produce
products that meets the market needs to increase competitiveness. Furthermore,
this project, as addressed in task 2 briefing that it is partially considered by
the company as a response to the effects of globalization, should be
categorized as market driven project.

 

Question 2

Defined by Project Management Institute (2013, p51), “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”. The scope statement should first include project justification
or 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 product
successful; fourth, project objectives which include cost, schedule, and
quality. The most important tool that will be used in to show the sub-division
of the scope of work is a Work Breakdown Structure. A Work Breakdown Structure defined
by Pinto and Jeffrey (2015, p173) is “a process that sets project’s scope by
breaking down its overall mission into a cohesive set of synchronous,
increasingly specific tasks.” In other words, WBS helps the project team
understand the steps and details that are required to make sure the completion
and success of this project.

 

Question 3

              Gantt charts are an easy method to
present beginning and end of a project. It also helps managers to schedule
different tasks and track the progress of the entire project. The advantages of
creating and using a Gantt chart is that it helps managers monitor and control
the progress of the project because Gantt chart shows prerequisites for each
separate activity. It helps managers set priorities, notice what needs to be
done first in order to continue the progress, and make changes to the preset
schedule and plan. By identifying a critical path— “series of interdependent
activities of a project, connected end to end” (Pinto, 2015, p332), managers
can determine the shortest total length of the project. By looking at the
critical path, managers will clearly see what tasks need to be finished before
the next dependent one can start, so if a critical task cannot be completed on
time, the whole project will be delayed, vice versa.

 

Question 4

       Generally speaking, the success of a
project must be based on the consideration of key factors that define the very
nature of a project (Pinto, 2015, p36).

Time—can the
project be finished on time or even earlier than expected

Budget—did the
cost meet our estimation or budget

Quality—whether
the outcome of the project meets the specifications of the requirements

Scope– work that needs to be accomplished to deliver a product, service, or
result with the specified features and functions

Defining success of a project can be hard sometimes, since different
people will take different elements into account. Therefore, comparing the
future outcome of the project (products or services) with time, budget, and
quality all combined together is probably the easiest way for the
determination.

 

Question 5

        Using
risk 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 to
happen. Second, a risk impact matrix should be constructed to reflect all
identified project risks, each prioritized according to the probability of its
occurrence (Pinto, 2015, p248) in order to have a general idea of the risk
likelihood and consequences. Third, after analyzing the risks, use different
strategies to transfer—for example liquidation; minimize—reduce the damage to
minimum; accept the risk if its damage is minor and if it is not avoidable; or
share risks by bring in investments or contracts that legally require risk
sharing. Finally, use control and documentation system to classify and codify
various risks for referencing. This helps managers make quick and effective
decisions if similar events occur in the future (Managing Projects, p127).

Question 6

       In order to make sure that project in
task 2 is completed successfully on-time and within budget, project evaluation,
monitoring and control method should be implemented. This method allows
management team stay on top of a project’s changing status as it moves through
different life cycles toward its completion (Pinto, 2015, p453). First method
can be used is milestone analysis. Milestones of a project represent
significant stage completion during the process of the project. It can motivate
the project team, make changes to meet new objectives, help coordinate
schedules with suppliers and vendors, notify other team members to begin their
part, and develop a better overall view of the project. Another method is
called tracking Gantt charts. By doing so, project team can constantly update
project’s status by linking task completion to the schedule baseline. Tracking
Gantt charts helps project management team monitor specific activity starting
and ending date, thus make adjustments to ensure project can be finished on
time, if necessary. Now more and more companies use EVM—earned value
management, to monitor and control their projects, because it is believed that
it is necessary to consider the impact of time, cost, and budget all together
to determine the current status of a project. Unlike other methods, EVM
provides integrated information for managers to have a better understanding of
the current situation and to determine what changes have to be made (Pinto,
2015, p460).

 

 

 

 

 

 

 

 

TSK Bearings Project Management Report

Introduction

       To and increase automotive industry
competitiveness, TSK Bearings Ltd has decided to introduce new technology and
machinery, transferred from Asia, into a manufacturing site within the UK as
part of a strategy of expansion. This project must be completed by March 2018
with a 12 million GBP budget including the purchase and building of a
manufacturing site, and training and recruitment of team members for the
success of project completion and of new technology implementation. In the
report, project life cycle—concept, development, implementation, and
termination—along with management skills, will be the main theory used to
explain and describe essential activities, during the management process,
required to successfully manage this new initiative, ensuring that it is
on-time, and within budget.

 

Concept Stage

1.    
Defining objectives

       This is the phase that management team
grasps a general idea of what the project is going to be. First thing to begin
with as a manager is to have a clear understanding of the objective which is to
make sure that the building of new manufacturing site and the transfer of new
technology will be accomplished within the time and budget limitations. At the
same time, stakeholders or owners of this project must also be taken into consideration,
since the challenge to achieving total success comes from complexity of the
objectives and the requirements of many different groups of stakeholders for
the project, not least because there will be conflicts between the requirements
of each (Maylor, p76). For example, some stakeholders emphasize more on the short-term
rate of return, others may focus on long term development of the company. It is
important to balance and finalize, and have a specific and clear direction that
members work towards. This project does not only serve the purposes of catching
up with new production technology. This project “establishes a sense of what
the organization hopes to accomplish or 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 expanding production capacity as its organizational
strategy for the future.

2.    
Management team and required skills

Quality of a team determines how successful can a project be. In
other words, team members and teamwork is crucial to project management. We
must work within teams, and we must build our teams in such a way that members
can and will work together cooperatively to accomplish the work of the project.
An effective team could be described as any group of people who must
significantly relate with each other in order to accomplish shared objectives
(Michael, 2008). Team building should start as early in the project life cycle
as possible—in the concept stage, because the performances of everything that
comes up in the following stages will be based on the efficiency and
effectiveness of the team.

The
success of a team can be influenced by two important factors: leadership and
individual skills and attitudes. Addressed by Harvey Maylor (2011, 268),
“leadership involves the influencing of others through the personality or
actions of the individual”. Manager is the dynamic, life-giving element in
every business. Without his or her leadership, the resources of production
remain resources and never become production. Manager leads the team by
acquiring resources for the team, motivating team members, having a vision for
the project, and communicating with team members (Pinto, p139). As the manager
for this project, I will need to be familiar with each member’s capability, and
at the same time build up a relatively good communication channel with each
member. This can facilitate appointing personnel to separate activity when work
breakdown structure is introduced. For individual team members, they are
required to train in Asia for potentially 12 months to gain knowledge,
experience and assist the implementation of the new technology. Since team
members are to be recruited from existing company staff with some members
recruited externally, as mentioned in the task 2 brief, cooperation between
internal and external members. I, as the manager of this project, play
important in making sure our team is fully functional without any conflicts between
team members.

3.    
Cost estimation

Nothing can be done without sufficient resources. Within
limited budget (12 million pounds), manager of this project must devise an
estimation of required resource as sophisticated as possible. Resource
limitation, as one of the constrain, includes both money and people. Since we
already have existing team members, initial project cost estimation and
budgeting are extremely important elements in the project. It is essential to
estimate cost before the project starts, because it creates a reasonable 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 hit critical
launch window (Pinto, p423).” Meanwhile, cost over estimation should be
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 and
determined that the project is feasible, manager need to obtain approval for
the next stage, which is the development stage.

 

Development Stage

1.    
Development scope baseline

A scope baseline is a document that provides a summary description
of each component of the project’s goal, including basic budget, end product
quality, and schedule information for each activity. Scope baseline presents
detailed objectives for the team members to focus on. It reflects a team’s best
endeavor at creating the documentation and approval of all important project.
Creation of the scope baseline is the final step in the process of
systematically laying out all pre-work information, in which each subroutine of
the project has been identified and given its control parameters of cost and
schedule (Pinto, p173). The establishment of scope baseline not only set a
specific objective for the team to achieve, but also serves as a tool for
monitoring and control in the future. By looking at various activities and
their requirements and specifications, manager will be able to identify and
make adjustments during the process to determine whether the project is working
toward its success.

2.    
Budgeting

Even though cost estimation gives us a general idea of how much
resources are required in achieving project objectives, budget development
identifies the allocated resources, the project’s goals, and the schedule that
allows an organization to achieve those goals. A budget
helps in planning actual activities by forcing managers to consider how the
conditions might change and what steps should be taken, and by encouraging
managers to consider problems before they arise. It also helps to co-ordinate
the activities of the organization by compelling managers to examine
relationships between their own operation and those of other departments. In
this project, activity-based costing method should be implemented. It assigns
cost first to activities and then to the project based one each project’s use
of resources (Pinto, p296). In this project, budget can be separated into two
parks: new manufacturing site, and team member training and new technology
transformation. Within the 12 million pounds project budget, resources should
be allocated effectively into each individual activity, such as purchase of
construction material, labor cost, purchase of new machinery, etc. The entire
project team need to be familiar with respective cost of each activity to
optimize limited resources, because the implementation of monitoring and
controlling can be much easier if any potential event occurs that may benefit
or harm the project,

3.    
Work breakdown structure

Work breakdown
structure is a deliverable-oriented grouping of project elements which
organizes and defines the total scope of projects (Pinto, p173). Work breakdown
structure provides management team with a clear view of how many individual
activities are needed for the completion of the entire project. Each descending
level of activities represent an increasingly detailed definition of a project
component. After creating a work breakdown structure, team members can be
appointed to be responsible 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 Gantt charts and identifying critical path for
different activities. Work breakdown structure can be crucial to the project,
because A poorly constructed WBS can result in
adverse project outcomes including ongoing, repeated project re-plans and
extensions, unclear work assignments, scope creep or unmanageable, frequently
changing scope, budget overrun, missed deadlines, and unusable new products or
delivered features (Brotherton, 2008).

4.    
Assessing risks

Risk Analysis and Management is a key
project management practice to ensure that the least number of surprises occur
while the project is underway. While we can never predict the future with
certainty, we can apply a simple and streamlined risk management process to
predict the uncertainties in the projects and minimize the occurrence or impact
of these uncertainties. This improves the chance of successful project
completion and reduces the consequences of those risks (Lavanya, 2008).
However, there’s a problem in assessing risks is that risks are possible future
events that have not yet occurred, thus their probability of occurrence can
only be estimated (Hillson, 2004). For example, the possibility of natural
disaster that may delay the construction of new site cannot be determined, even
though previous weather data will be taken into account. Therefore, when
assessing risks, we should take precaution, because overestimate the
possibility of risks may discourage team members and allocate unnecessary
resources for response plan.

 

Implementation
Stage

1.    
Motivate team

 

 

 

 

List
of references

Harvey maylor.
2011. Project management. Harlow:
Financial Times Prentie Hall.

University of
Sunderland. 2014. Managing Project. Wordhouse
Ltd, Reading, UK.

Project Managing
Institute. 2000. A Guide to the Project
Management Body of Knowledge. Project Management Institute, Inc.

Pinto, Jeffrey
K. 2015. Project Management: Achieving Competitive
Advantage. Pearson Education.

Thomas, M.,
Jacques, P. H., Adams, J. R., & Kihneman-Wooten, J. (2008). Developing an
effective project: planning and team building combined. Project Management Journal,
39(4), 105–113. URL:http://dx.doi.org/10.1002/pmj.20079.
10 Jan, 2018.

Brotherton,
S. A., Fried, R. T., & Norman, E. S. (2008). Applying the work breakdown structure to the project management
lifecycle. Paper presented at PMI® Global Congress 2008. Project Management Institute.

Lavanya, N.
& Malarvizhi, T. (2008). Risk
analysis and management: a vital key to effective project management. Paper
presented at PMI® Global Congress 2008. Project Management
Institute.

Hillson, D.
& Hulett, D. T. (2004). Assessing
risk probability: alternative approaches. Paper presented at PMI® Global
Congress 2004. PA: Project Management Institute.