Projects are customized solutions and are therefore dealing with uniqueness, uncertainty and risk. Precisely for this reason, “Project Management requires the use of many skill sets and involves tasks of limitless variety” (Heerkens, 2014). In addition to the basic skills for managing a project defined by Richman (2012) which can be found in Appendix 2, multiple other skills are needed for a successful management of a project such as “…flexibility, resourcefulness, ability to negotiate, personal drive and a large measure of common sense” (University of Sunderland, 2005). Apart from delegating tasks the PM needs to be able to rely and trust others in order to get things done. To handle diverse personalities into a unified team a smooth working relationship must be cultivated and requires the PM’s ability to persuade and influence as well as to coach, mentor and motivate the staff (Heerkens, 2014). At best, he enables each individual within the project team to concentrate on their personal core competencies, ultimately resulting in better productivity and results for the project. The best competency mix of a PM includes Cognition Competencies (Analysing & Reasoning), Personal Effectiveness (Result & Safety Focus) Management Qualities (Planning & Organizing) and Leading Others (Acts as a role model to others). A professional PM never loses sight of interpersonal aspects as well as the environmental aspects and pays attention to details without getting wrapped up in them. “The best project manager is both a specialist and a generalist” (University of Sunderland, 2005).
Table of Contents
- Task I Critterhouse Limited
- 1.1 Network Diagram
- 1.2 Determination of the timing of activities and the total float
- 1.3 Determination of the project duration and the critical path
- 1.4 Calculation of the earliest date of completion
- 1.5 Effect on the duration of the project caused by rescheduling
- 1.5.1 A 1 day delay during activity P
- 1.5.2 Activity Q is delayed 1 day
- 1.5.3 A 4 day delay during activity N
- 1.6 Limitations of network diagrams
- Task II - Ross Limited
- 2. Project Management Foundation
- 2.1 Introduction
- 2.2 Initiating Stage - Defining and Authorizing the Project
- 2.3 Project Manager (PM) – Skills and Competencies
- 2.4 Project Team - Teambuilding
- 3. Project Life Cycle
- 3.1 Initiation Phase - Objective Setting
- 4. Project Planning
- 4.1 Stakeholder analysis
- 4.2 Work Breakdown Structure
- 4.3 Project Scheduling
- 5. Project Cost Management
- 5.1 Resource Planning
- 6. Risk Management
- 6.1 Risk identification
- 6.2 Risk analysis- Quantitative and Qualitative
- 6.3 Risk Response Planning
- 6.4 Risk Monitoring and Control
- 7. Ensuring a Successful Project Execution- Project Controlling
Objectives and Key Themes
This assignment aims to apply project management principles and techniques to two case studies: Critterhouse Limited and Ross Limited. It analyzes various aspects of project management, from network diagramming and critical path analysis to risk management and team building.
- Network diagramming and critical path analysis
- Project scheduling and resource allocation
- Risk management strategies
- Project team dynamics and leadership
- Project planning and control
Chapter Summaries
Task I Critterhouse Limited: This section focuses on applying network diagramming techniques to a project for Critterhouse Limited. It details the creation of a network diagram, calculation of activity timings (EST, EFT, LST, LFT), determination of the critical path, and analysis of the effects of potential delays on the project duration. The limitations of network diagrams are also discussed, highlighting their strengths and weaknesses in project planning and control.
Task II - Ross Limited: This section transitions to a different case study, Ross Limited, and provides a more holistic view of project management. It delves into the project management foundation, exploring the initiating stage, defining project scope and objectives, and the key skills and competencies needed for effective project management. The importance of team building and the project team’s role in project success are also explored.
2. Project Management Foundation: This chapter lays the groundwork for the project management process, covering the initiating stage of defining and authorizing the project. It emphasizes the crucial role of the project manager, highlighting essential skills and competencies. Furthermore, it addresses team building and the creation of a high-performing project team, which are vital for success. This section forms the theoretical basis for the practical application demonstrated in other parts of the assignment.
3. Project Life Cycle: This chapter introduces the concept of the project life cycle, specifically focusing on the initiation phase and the importance of objective setting. It highlights the criticality of clear, well-defined objectives in guiding the project’s direction and ensuring successful completion. The framework established in this section informs the subsequent discussions on project planning and execution.
4. Project Planning: This chapter delves into the critical area of project planning. It covers stakeholder analysis, understanding the needs and expectations of various stakeholders involved. The importance of a Work Breakdown Structure (WBS) for breaking down complex projects into manageable tasks is emphasized. It also covers project scheduling, ensuring that tasks are sequenced effectively to meet deadlines. The section synthesizes these components into a comprehensive project plan.
5. Project Cost Management: This chapter focuses on the financial aspects of project management, specifically resource planning. It highlights the necessity of allocating resources effectively to manage costs within the defined budget. This chapter is crucial for ensuring the project’s financial feasibility and sustainability.
6. Risk Management: This chapter is dedicated to identifying, analyzing, and managing potential risks within the project. It differentiates between quantitative and qualitative risk analysis, outlining methods for assessing both. Risk response planning and monitoring strategies are included, which are essential to proactively mitigate potential issues and ensure smooth project execution.
7. Ensuring a Successful Project Execution- Project Controlling: This chapter emphasizes the importance of continuous monitoring and control throughout the project life cycle to ensure its successful completion. It addresses various mechanisms and strategies for tracking progress, addressing deviations from the plan, and maintaining control over the entire project execution process, thus solidifying the lessons from preceding chapters.
Keywords
Project Management, Network Diagram, Critical Path, Project Scheduling, Resource Planning, Risk Management, Stakeholder Analysis, Team Building, Project Life Cycle, Project Control
Frequently Asked Questions: Comprehensive Language Preview - Project Management Case Studies
What is the purpose of this document?
This document provides a comprehensive overview of a project management assignment, including the table of contents, objectives, key themes, chapter summaries, and keywords. It covers two case studies: Critterhouse Limited and Ross Limited, applying various project management principles and techniques.
What topics are covered in the Critterhouse Limited case study (Task I)?
The Critterhouse Limited case study focuses on network diagramming and critical path analysis. It covers creating a network diagram, calculating activity timings (EST, EFT, LST, LFT), determining the critical path, and analyzing the impact of potential delays. It also discusses the limitations of network diagrams.
What topics are covered in the Ross Limited case study (Task II)?
The Ross Limited case study provides a broader perspective on project management, including the project management foundation, initiating stage, defining project scope and objectives, and the skills and competencies of a project manager. It also emphasizes team building and its contribution to project success.
What are the key themes explored in the assignment?
The key themes include network diagramming and critical path analysis, project scheduling and resource allocation, risk management strategies, project team dynamics and leadership, and project planning and control.
What is covered in the "Project Management Foundation" chapter?
This chapter lays the groundwork for the project management process, covering the initiating stage, defining and authorizing the project, the project manager's crucial role and essential skills, and team building for a high-performing project team.
What is discussed in the "Project Life Cycle" chapter?
This chapter introduces the project life cycle, focusing on the initiation phase and the importance of objective setting in guiding the project's direction and ensuring successful completion.
What are the main topics of the "Project Planning" chapter?
This chapter covers stakeholder analysis, the Work Breakdown Structure (WBS) for breaking down complex projects, and project scheduling for effective task sequencing to meet deadlines.
What does the "Project Cost Management" chapter cover?
This chapter focuses on the financial aspects, specifically resource planning and effective resource allocation to manage costs within the budget.
What is included in the "Risk Management" chapter?
This chapter covers risk identification, quantitative and qualitative risk analysis, risk response planning, and risk monitoring and control strategies.
What is the focus of the "Ensuring a Successful Project Execution - Project Controlling" chapter?
This chapter emphasizes continuous monitoring and control throughout the project lifecycle to ensure successful completion, including tracking progress, addressing deviations, and maintaining overall project control.
What are the keywords associated with this assignment?
The keywords include Project Management, Network Diagram, Critical Path, Project Scheduling, Resource Planning, Risk Management, Stakeholder Analysis, Team Building, Project Life Cycle, and Project Control.
- Quote paper
- Janin Ropot (Author), 2014, Project Management. Duration, Project Planning, Risk Management, Munich, GRIN Verlag, https://www.grin.com/document/284207
