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Project Management
Table of Contents
Introduction..................................................................................................................................................3
LO 1. Analyse and critically evaluate the drivers of projects in various sectors.........................................3
LO 2. Synthesise the role of strategic project management in organisational life-cycle, particularly the
links with change management....................................................................................................................5
LO 3. Clearly define and apply the key phases of project management, project organisation and
procurement.................................................................................................................................................6
Phases of project:.....................................................................................................................................6
Project organization:................................................................................................................................7
Procurement:............................................................................................................................................8
LO 4. Prepare and evaluate work breakdown structures for various projects.............................................8
LO 5. Monitor and evaluate the effectiveness of delivering projects to schedule, to quality and on
budget..........................................................................................................................................................9
LO 6. Define and critically appraise the role of stakeholders, leadership, teams, risk and quality within
the various aspects of managing projects...................................................................................................11
Conclusion.................................................................................................................................................12
References..................................................................................................................................................13
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Introduction
Project is a transitory working process to create a product, service, or obtaining a desired result. A
project is defined by time, scope, and necessary resources (Dwivedula and Bredillet, 2010). Project
management is the application of resources, tools, expertise, and techniques to achieve project results or
outputs. This report mainly focuses on the project management plan and its surrounding factors to
initiate, run, and make a project successful. It specifies the structure of the project and application of
project resources.
Urbanization
Demographic
factors
Economic
factors
Easy loan
Drivers of
projects in
different
sectors
Supply chain
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Economic factors:
Recently we have experienced a rise on disposable income and inflation. This rise has increased the
purchasing capacity of individuals. They like to spend more on branded goods. Business organizations
can sell their products and services to middle income customers as there is a rise in their income
(Dwivedula and Bredillet, 2010).
Demographic factors:
Due to cultural fusion, people have different choices, behaviours, and attitudes towards brands. Shifting
the demand towards fashionable goods is also driving many retail industries. Organizations need to
recognize the changing needs of customers and capitalize on them by providing good products and
services (Frame, 2010).
Urbanization:
People tend to move from rural to urban areas for better living. They like to work more hours for
increased income and that has spurred the launch of many comfortable ready-made products and food
items. They need to save time to balance work and personal life and online business has made the most
benefit of it (smallbusinesschron.com, 2016).
Easy loan:
Loans and credits are very available to people from all levels. It has increased the capacity to spend
more. Now from lower income people to higher income people get easy credit on long and short terms.
There are some cultural issues in spending. Some cultures encourage spending more and saving less
income while some others do the opposite (Frame, 2010).
Supply chain:
A well maintained supply chain ensures the availability of goods to customers. Good distribution
channel can provide goods according customers preferences. They have established communication
system that enables firms to reduce inventory and expenses while accelerating sales (Frame, 2010).
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Revival
Maturity
Decline
Growth
Start-up
Figure: life cycle of an organization
1. Start-up: start-up stage requires the initiation phase of the project. Here an organization needs to
change their view among the customers by adding new products to their portfolio. There is
research on the feasibility of a project to change the structure or strategy of an organization. A
group of solutions may come up and management needs to choose among these solutions to
make a considerable change (Gasik, 2011).
2. Growth: growth phase involves planning a new change strategy that will benefit the company. In
my project I need to add a range of stylish T-shirts to my business portfolio. As a project leader
of a retail cloth industry I need to assess the market to launch new T-shirts in the market.
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3. Maturity: in maturity stage the sales of T-shirts are increasing rapidly because I am offering
designer T-shirts with extraordinary colour combination. Maturity stage requires adding more
variations in the shirts and more colour combinations (Gladden, 2010).
4. Revival: Revival stage can take up two paths: it may decline or increase sales. I need to change
the project by adding more variety in my portfolio or simply drop the project and take up
something else to run another new project.
5. Decline: if I cannot bring appropriate changes to the strategy or plan my business project may
decline. There will be many competitors selling the same kind of T-shirts and my sales will
gradually decline and I have to add new products to survive.
Initiation
Planning
Execution
Ending
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Project organization:
One method cannot be applied to a specific organization. Many aspects are associated with the
organizational approach of a project to make it successful. The culture of the organization, management
concerns, skills and expertise of the project team affect the project to a great extent. I need to specify the
span of control for my organization (Kendrick, 2010).
Procurement:
Procurement is the process of buying materials and supplies necessary for the project. My project is a
less complex project so I need to buy the supplies from one or two suppliers. Bigger organizations
employ procurement teams or specialists to do so. Procurement also includes the installation of
equipments and structuring the layout of the equipments and space. The most common types of
procurements are:
Commodity procurement
Vendor procurement
Partnerships
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In this step I need to develop products (T-shirts) and test the market to observe whether they fit to the
market demand or not.
Support activities:
After completion of the project, assistance on different department is required. Technological and
financial assistance are the most necessary after the launch of a project. Funding is required for
advertisement and promotional efforts (Organizational project management maturity model (OPM3),
n.d.).
Closing the project:
Closing the project is not really wanted by the project leaders. Documentation and storing of information
is done in this last step of project structuring (Mller and Turner, 2010).
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Time
Company
strategy
Preconditions
for delivering
projects
Budget
Quality
I have to ensure that the project is compatible with the overall organizational strategy. I need to check
the decisions and evaluate it with the company strategy before taking any decisions. I have to make sure
that the project is aimed at creating values to the customers and benefit the organization overall.
There are some other considerations like external stakeholders preferences, best practices, low-cost
strategies that may be used in different segments of the project whenever any modification is needed
(Maylor, 2010).
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Internal stakeholders
Top management
Project team members
Managers
Employees
External stakeholders
Government
Suppliers
Contractors and subcontractors
Customers
Figure: stakeholders
Internal stakeholders:
Top managers include the governing body of the organization. It entails president, vice-president,
owners etc. They develop strategies and milestones for projects on the basis of which operational
activities will be carried out. The project team members are responsible for carrying out the activities
defined by top management and report to them. However conflicts in the opinions among members are
also a concern for the management. Managers must be informed about the progress of the project and
have all the necessary requirements available for meeting the project goals. Employees and peers share
responsibilities and workload. They share their views and opinions towards managerial decisions.
However sabotage and personal conflicts may hinder the development of the project in time.
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External stakeholders:
Government and regulatory authorities of central and state provide guidance, rules, and procedures for
conducting business. Contractors provide technological assistance, human resource, and expertise to do
the work of an organization which does not have the ability to hire all the things. Suppliers provide the
raw materials and all relevant information about the market including demand and supply of a product.
Suppliers regulate the sale of products and influence the price directly in the market. Customers are
considered the king in the retail cloth industry. They buy products of their own choice and provide
feedback to the organization that can be capitalized as change practices.
Conclusion
This report signifies the structure and planning of a simple project by evaluating its stages and
processes. There are some factors that influence the project. The roles and responsibilities of
stakeholders to complete the project and their influence on the project is also evaluated in this report.
Overall this report describes how a project can be successful and by satisfying internal and external
customers.
References
Dwivedula, R. and Bredillet, C. (2010). Profiling work motivation of project
workers. International Journal of Project Management, 28(2), pp.158-165.
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Frame, J. (2010). Project management theory and practice. Project Management Journal,
41(5), pp.87-87.
Gasik, S. (2011). A model of project knowledge management. Project Management Journal,
42(3), pp.23-44.
Gladden, R. (2010). Managing project uncertainty. Project Management Journal, 41(3),
pp.100-100.
Kendrick, T. (2010). The project management tool kit. New York: AMACOM American
Management Association.
Maylor, H. (2010). Project management. Harlow, England: Financial Times Prentice Hall.
Mller, R. and Turner, R. (2010). Leadership competency profiles of successful project
managers. International Journal of Project Management, 28(5), pp.437-448.
Organizational project management maturity model (OPM3). (n.d.). .
smallbusinesschron.com. (2016). project planning and control. [online] Available at:
http://smallbusinesscron.com/projectmgt [Accessed 26 Oct. 2016].
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