Project Management Essay Example | Topics and Well Written Essays - 4000 words

Project Management - Essay Example The provided analysis critically assesses the most important issues of the project especially in the planning and development phase and the way they should be approached and dealt. The general recommendations include: 1. Developing a detailed project documentation especially in the areas of the specification and the expected quality for the product deliverables; 2. Developing detailed risk mitigation strategies especially for mitigating the inherent risks; and 3. Developing a specific communication and reporting procedures which will ease the coordination of the activities and will favour fast reaction in risky situations; Table of Contents Project Background 3 Project Concept and Strategy 4 Project Scope 5 Project team and structure 7 Project management plan 8 Project schedule 10 Project budget 13 Project control and monitoring 13 Outline project risk register 15 Conclusion and Recommendations 16 References and Bibliography 17 List of Tables Table 1 Training Themes Table 2.Project C ost Table 3. Project Responsibility Matrix Table 4. Risk Register Outline List of Figures Figure 1. Project life Cycle Figure 2.Work Breakdown Structure Figure 3. Project Organisation Figure 4. Gantt Chart Project Background Big Ideas Ltd plans to organize a one day training event in project management, with a specific focus on the MS Project use and the Critical Path Analysis (CPA) as a planning technique. Big Idea has no project management experience in managing events of such caliber which is why several companies with expertise in project management have been approached for providing an offer and a solution of how the event should be managed. The Project management Ltd (PML) offer is provided in the following sections. Project Concept and Strategy PMBOK and PRINCE2 are standard project methodologies used by many PM practitioners across the world. The both methodologies recommend that the projects begin with a project initiation phase in which a clear identification of customer, in this case the owner’s requirements is made (PMI 2008, OGS 2005). In the case of Big Idea’s project, PM practitioners as Field and Keller (2007:8-15) and Gardiner (2005) and in line with the PM standards, recommend preparing a Feasibility study or a Business Case in the terminology used in Prince2 PM approach (OGC 2005). The Business Case is a standard tool in project management which aims at investigating the financial, technical and managerial implications of the identified solution for accomplishing client’s requirements. The Business Case enables the Management team to make a decision on the future development of the project , its objectives and scope (Field and Keller 2007: 25-40). The outputs of the project initiation phase are: (1) an Appointed Project Manager and a (2) Project Initiation Document (PID). In the process of the initial project development and the definition of the project objectives, the project practitioners as Turner (2009) and Kerzner (2009) recommend an identification of two set of factors for measuring the project success. The first set is made out of the success criteria, or the dependent variables by which the successful outcome of the project will be assessed: time, cost and quality. The second set are the success factors or the independent variables which will influence the successful achievement of the success c