Project management

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Project planning involves taking consideration of all aspects of a project in order to achieve efficiency, timeliness and to minimize related costs at all levels. In this project, focus will be made on critical considerations in the process of coming up with an information system of a company of choice.

Project management is the practice of planning, initiating, controlling, executing and closing the activities in order to achieve certain goals and attain specific achievement. A project, on the other hand, is a temporary venture designed to produce a distinctive result or product with a clear beginning and end. The project usually has a time constraint and sometimes staffing or funding constraint. The basic challenge of project management is to attain all of the project objectives within given constraints. The primary constraints of a project include time, quality, budget and scope, the secondary constraints is to optimize the allocation of required resources and use them to achieve the defined objectives. The objectives of project management are to come up with a project that complies with the objectives of the client. The client’s objective usually influences all decisions made by all parties involved in the project such as the contractor, subcontractor, designers and project managers.

There is the various essential requirement for project management success. First of all, there are various important documents that projects managers and the project team should depend on to successfully execute and guide the project. This document includes, project charter which identifies the needs of the project, provides approval for a project and can be used by the project manager as a tool to request resources. Another important document is the project management plan which is created by the project manager together with the initiator and sponsors. This document controls and guides the whole project. Besides that, another essential document is progress reports document which is also important for keeping all stakeholders and sponsors up- to date. Finally, another essential document needed in project management is a risk management document. This document identifies any possible risks that may hinder the success of the project and also provides solutions on how to address those risks.

 EXPECTED COMPLETION TIME AND VARIANCES

= (Optimistic time + 4(Most likely) + Pessimistic time)/6

Variance = (b-a/6) 2 

Activity

Predecessor

Time estimates

Expected time

Optimistic time

Most likely

Pessimistic time

Variances

1

2

4

6

4.00

0.1

2

1

3

5

9

5.33

1

3

2

4

5

7

5.17

1.8

4

2

4

6

10

6.33

0.4

5

2

4

5

7

5.17

0.4

6

3,4,5

3

4

8

4.50

1.8

7

6

3

5

8

5.17

0.4

THE TOTAL PROJECT COMPLETION TIME AND THE CRITICAL PATH

Duration                                                            8

          3                         6                             8

                                                                                                                              6

                                                           10                                   14

To obtain the critical path, which is the longest to complete? To determine the critical path, add all the available paths and determine the duration.

0-1-2-3-6-7 =3+6 +8+ 6= 17                                                                                                                                                                 

0-1-2-4-6-7= 3+6+8++6=23

0-1-2-5-6-7= 3+6+10=14+6=39

The critical path is, therefore, 0-1-2-5-6-7

The total project completion time is 39

EARLY START, EARLY FINISH, LATE START and LATE FINISH

Early start

Duration

Earl finish

Task name

Late start

Slack

Late finish

The first step is to obtain the early start and earl finish .The early start is maximum early first of all predecessor while earl finish is the early start plus task duration.

To compute for early start time and earl finish time:

Activity 1: ES= 0, TIME= 3 EF= 0+3= 3

Activity 2; ES=3 TIME= 6 EF= 6+3= 9

Activity 3: ES= 9, TIME= 8, EF= 9+8= 17

Activity 4: ES= 8, TIME= 8, EF=8+8= 16

Activity 5: ES= 9, TIME= 10, EF= 9+10= 19

Activity 6: ES=16, TIME= 14, EF=16+14= 30

Activity 7: ES= 30, TIME= 6, EF= 30+6=36

The next step is to determine late first and late finish:

Last first is the minimum last start of all successor activities not unless the activity is the last activity for, where last first is equal to earl first activity..

Activity 1: LS=0, LF=0

Activity 2; LS=6, LF= 6-6=0

Activity 3: LF=16, LS= 16-8= 8

Activity 4: LF=16, LS= 16-8=8

Activity 5: LF= 16, LS= 16-10=6

Activity 6: LF=30, LS=30-14= 16

Activity 7: LF=36, LS=36-6= 30

Slack time can be determined as the difference the latest finish time and early finish time: All activities with the difference of zero has the slack time.

Activity 1: 3-0=3

Activity 2; 9-0=9

Activity 3: 17-8=9

Activity 4: 16-8=8

Activity 5:19-6=13

Activity 6: 30- 16=14

Activity 7: 36-30=6

There is no slack

ANALYSIS OF THE IMPLICATIONS OF CHANGES IN PROJECT SCHEDULING

Project scheduling is a way of introducing certain methods that will help in project management. It always takes place before the beginning of the project. It involves the following activities: being aware of the task to be undertaken, giving a rough estimation of the duration to be taken by the project, determining the time when specific activities will take place and allocation of the necessary resources. The implication of project scheduling is when the predictions that were made before the project started may be wrong. When the predictions happen to be wrong, the strategies to correct the prediction will be of no help which will, therefore, lead to wastage of resources and time. Project scheduling usually influences what will happen within a venture. In a situation where the actual routine is underrated, the project plan will have to be revised which will, therefore, cause delays in the project.

APPLICATIONS OF PROJECTS MANAGEMENT TECHNIQUES

Project management is a critical task with involves several activities, however, there are various tools that can assist in accomplishing the tasks. Some of this tools are the Gantt Charts and Program Evaluation Review Techniques. Project management techniques are applicable to various activities. These techniques can be used to evaluate project cost and time, can be used to calculate risks, enable the project team to focus on customers’ requirements, can be used to link project objectives and goals to stakeholders need, It can also be used to attain the time constraint and to create a dependable monitoring and control system for a project.

This report provides an analysis and valuation of Winsome Manufacturing Company in relation to the introduction of a new product. It mainly addresses the following aspects of the company; the stakeholder, the sponsors of the company, the project manager, the type of communication plan used in the Company and the element of the project charter of the Company. This report shows how stakeholders, project sponsors, project manager, communication plan and project charter affect the company’s project in relation to their roles and responsibilities.

Winsome Manufacturing Company is one of the largest companies in the world that produce plastic storage containers. At the previous quarterly meeting, the head of the marketing department came up with an idea of introducing a new product in a period of nine-month time. The new product is described to be a room-sized outside plastic container. Even though their competitors are producing a similar product, the product will be having additional features which will be a competitive advantage for the company. The winsome company will benefit more from the introduction of the new product as the new product will open new different market for sales channel of the company. The product would need participation from all the departments within the company to ensure that it becomes a success in the market and since the company will carry all the manufacturing process internally, the revenue of the company will increase as well.

A communication plan is a policy-driven approach used to provide information to stakeholders. It defines who should get the particular information, what communication network will be used to send the information and when to deliver the information.

There are several mechanisms that would be used for different types of information. Information can be prepared to reach the project team members or project stakeholders through various mechanisms. The chosen mechanism should be effective and efficient to ensure production succeeds. For example, the production team members would want to be informed about the production status update of the product in question, therefore, using status update would be necessary for the company. Production team would also need to be informed on any upcoming issues and decisions for conformity which will be attained through status reports and regular meetings. In order for the company to achieve effective communication, the project manager should encourage regular meetings together with posters that would show the development and progress status and any upcoming issues.

In some cases during development, project communication might prove to be ineffective. Under these circumstances, the knowledge and skills of the project manager would be required to come up with the most suitable communication strategy which will involve the use of unplanned meetings that will be used to pass the essential issues and also notify the team members on the significance of communication in accomplishing the desired goal. In the case of Winsome Company, several technologies will be used for communication during the development process and even the marketing of the product. Some of these technologies include video conferencing which will be done between the manager and the marketers on the field, emails and newsletter distribution to allow dissemination of info to many people especially within different departments of the company.

Finally, a company should have a project charter. This is a statement of the objectives, statement of the scope and participants of a project. A project charter identifies the key stakeholders, summaries the objectives of the project and outlines the power of the project manager. A project charter should provide an understanding of the project, should contain the principles of the project and also act as an agreement between the key stakeholders, the project sponsor and the project team.

 In the case of Winsome Manufacturing Company, the head of the marketing department requested for the production of a new product in response to customers’ complaints on inadequate storage space of the current container thus leading to the proposal of a room-sized container which would help solve the problem.

Risks

The room-sized storage containers created by Winsome Manufacturing Company will have additional features that will make it more competitive as compared to the same product produced by their competitors. This new product will be an added advantage to the company as it would open new markets thus increasing the company's revenue. However, this new product is produced by other competitors in the market this will pose a great danger of not being able to attain the sale target as intended. This risk will only be reduced by introducing more features to the product as compared to the existing products. Nevertheless, Winsome Manufacturing Company may decide not to undertake the project which is dangerous in terms of revenue as their revenue will remain constant because the consumer will depend more on the product produced by their competitor.

Conclusion

In conclusion, it is clear to say that; the project sponsor, project stakeholders, communication plan, project manager and project charter are all required for a successful project to take place.

Recommendation

From the above report on the Winsome Manufacturing company, I recommend the following: the Winsome company should agree with the head of marketing to produce the new product as it will lead to an increment in revenue as the product will open a new market for the company.

October 24, 2023
Category:

Business

Subcategory:

Corporations Management

Subject area:

Company

Number of pages

7

Number of words

1795

Downloads:

31

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