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Scope Management Project Time Management

University: Bloomsbury Institute london

  • Unit No: 14
  • Level: High school
  • Pages: 9 / Words 2147
  • Paper Type: Assignment
  • Course Code: LSBM204
  • Downloads: 291
Question :

This sample will tell you about the:

  • What is scope management?
  • What is project time management?
  • Explain Project Cost Management.
Answer :
Organization Selected : N/A

INTRODUCTION

Project management is a practice in which number of activities defined through project plan is initiated for performance. In project management planing, organising, managing and controlling of various project related activities are performed so that goals and objectives specified for project is achieved. Project plan is defined in which number of activities and management of all the organisational skills are defined. In this project a plan needs to be prepared to conduct an event (Butler, Vijayasarathy and Roberts, 2019). The plan cover al the key areas of project which are project scope management, project time management, project cost management, project risk management and communication management of the project.

Overview and Scope of project

This project is initiated in order to organise an event for Boolmsbury Institute to arrange a three-day welcome and induction event for the next academic year. The event will take place in September 2020 and all the activities needs to be arrange for such event. This event will be held at large scale and number of activities needs to be performed to provide this event. A venue will be provided, decorations will be done, stage will be build, different segments will be organised for students and parents, welcome facilities will be arranged. Together with this some influencing and knowledgable speakers will be called. Catering services, food and beverage facilities and a desk for information will be provided to arrange such event. Ask for assignment help from our experts!

The project is arranged by Boolmsbury Institute so that communication regarding quality and quantity of academic services provided in the institute (Eskerod and Jepsen, 2016). This will help to increase market for the institute and intakes for the next year will be made facilitated. The project is available with constraint to make accurate prediction for number of participants through which necessary arrangement can be made. For the last years details of the event it is assumed that there are approx thousand of participants are expected in the event. Work Breakdown Structure tool will be used for this project so that all the activities will be divided into small parts to ensure its effective performance. WBS of this academic event is as follows-

Project Cost Management

Cost management is a process through which number of activities involved in performance of a project is evaluated on the basis of cost involved. The process of cost management involves planning and controlling of all the activities related to the project of academic event. All the expenses that are estimated to be incurred is mentioned in this plan and their evaluation is made to ensure its viability. Their are number of tasks that needs to be performed for in project management and resources such as people, equipments, funds etc. are required. While initiating with the project management plan resource analysis will be made to identify requirements of different resources in order to ensure their arrangement for accomplishing the project in suitable manner (Fleming, 2019).

Budget is the most important part of a project as it specifies the availability of funds required to manage all the activities for the event. A plan is designed to ensure accurate spending on different activities of business and it is termed as budgeting. Budget plan of the project specifies that £50000 is allocated in order to complete the project. On the basis of this budget allocation of funds to all the activities of the event will be made and some amount of surplus will be hold so that any uncertainties can be made. Budgeting is an important tool for the project plan as all the decisions are influenced through available budgets. Monitoring of the plan can be based on the financial resource by accessing the expenses made and the actual value generated through such resource utilisation.

Particulars

Amount (£)

Venue

5000

Decorations

3000

Stage formation

1000

Section formation

2000

Light and Water

1000

Security

500

Manager and helpers

2500

Welcome Event

8000

Speakers

2400

Food and Beverages

12600

Catering

1500

Help desk formation

1500

Other services

9000

Total

50000

Cost baseline will be implemented for the academic event of Boolmsbury Institute as it will provide an authorised time-phased spending plan for the project. This will help to make analysis for the performance of the project. As cost baseline while evaluated provides actual results and plan will be modified based on proper management.  Need Assignment Samples?Talk to our Experts! 

Project Time Management

Time management is an activity through which time spend on different activities of project is analysed and managed. It helps in identifying approximate time involved for accomplishing the project. Effectiveness of the project increases when each activity is managed properly and accomplished in the time allocated for the same (Heagney, 2016). Time management requires skills and knowledge regarding complete details of the event and arranging these activities in a manner so that objectives can be fulfilled. In order to manage time for the project for academic event of Boolmsbury Institute number of tools will be used and some of them are as follows-

Gantt Chart: It is a graphical representation which helps to decode the project schedule. Through Gantt chart timeline is provided which represents project management tools to demonstrate how a project will be initiated. Their are number of activities performed for organisation an academic event and each activity possess some start date and end date to calculate the time taken in completion of the whole project. Usage of Gantt chart facilitates development of task schedule which make it easy to understand what activities will be performed and time taken to perform such activities (Kusters, 2016). Thorough this a clear time frame is provided to each task so that its completion can be communicated in the project management team to make performance on time and as per plan. Though, there is some amount of complexities involved in formation of this chart but huge amount of benefits made this challenge worth the hard work performed to prepare Gantt Chart for the event project.

Network diagram: It is a graphical representation of each task to view different task, their dependencies on other tasks and also critical path of the project will be accomplished. Through this all the activity of the task will be evaluated and tracking of the activities form beginning of the project till it finishes is made. Through this digram interrelation of different activities are analysed and schedule of their performance is prepared so that completion of task can be made as per provided schedule.

Critical Path Analysis: It is a project management technique through which time allocated to different projects are initiated (Papke-Shields and Boyer-Wright, 2017). Each task in the project is mapped at this stage so that event is organised as required by Boolmsbury Institute. Time required to complete a task and dependencies of each task over other is related so that a best suitable path for completion of all the activities of the event is completed.

Project Risk Management

Risk is the amount of uncertainties related to accomplishment of the project as per plans. In order to avoid and manage such situations risk management practices are initiated. Risk management is a process through which potential risk involved is identified in advance. Analysis of risk involved is made so that required steps to reduce the negative effect of risk is taken. Risk management is an important activity as it helps in making a project more secure and certain with its results by taking precautions. Want to get Time Management Assignment Help? Talk Our Expert Now!

The process of risk management starts with risk identification in which all the potential risk that are available to accomplishment of event is recorded. Their are number of risk related for the academic event of Boolmsbury Institute. Time management, change in requirements, some uncertainties, technical risk are related while the project is accomplished for making project arrangement. After identifying related risk analysis of each risk is made in which potential impact that a risk can make to the completion of the project is made. On the basis of this analysis steps to minimise such situational risk is made. The process of risk assessment is accomplished with a matrix in which risk at each level of the project will be defined. This is a simple method through which consequences of different risk is analysed and its impact will be made. When all the risk of event will be identified and analysed then a risk response will be provided (Rockcastle, Adomaitis and Binder, 2016). Planning and decision making will be made to control the risk based on the perspective provided by project management team. The risk of time will be minimised with effective time management, technical risk will be managed through arranging suitable technical service provider and keeping all the immediate actions ready to be taken when any unforeseen situation arises.

Project Communication Management

Effective communication is a key towards successful accomplishment of projects. As it leads to transfer of information at each stage of project as and when required. It is essential in order to ensure that effective planning, organising, creation and distribution of management and controlling activities are made. Project when available with effective planning requires execution of the plan when communication takes place as per effective communication made. Through this best ideas, thoughts and information available at each stage is improved. Communication is managed in the project through establishing a stakeholders matrix. As it helps in analysing goals and objectives available towards different stakeholders of business and their achievement. Communication helps in establishing goals of business in such manner so that goals of stakeholders are considered important to achieve with project. Plans are designed in such manner that accomplishment can be facilitated.

A communication plan will be designed in the business so that a policy which defines communication system is applied among different stakeholders of business. Through this plan person to whom specific information needs to be provided is specified. A proper communication channel at each stage of project is established (Swann, 2018). A well defined communication plan when introduced to project of event management for Boolmsbury Institute then a well defined communication channel is made available. Transfer of information will become clear and quick as each member of project team will know whom to communicate. Decision making will become clear and quick based on some relevant information communicated.

All the tools of project management when performed in effective and productive manner then accomplishment of project will become more certain.

CONCLUSION

From the above project report on managing operations and projects it has been concluded that project management when performed in effective manner is available with number of activities. Risk management, time management, communication management are some tools which helps accomplishment of project more successful. Their are number of methods through which these management activities are performed and these methods are used to generate best suitable results. All the actions as per project plan is taken and each activity will be performed in time as per communicated risk and rewards so that best results can be generated.

 For more - Communication Strategy

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