Delivery in day(s): 5
The Purpose of this assignment is to make readers understand the skills required for managing a business project. project management is a critical task requirs, independent research and investigation in order to meet the appropriate business aims and objectives. All the characteristics and features of projects and its management are explained in the report. We will study about the principals of project, scope statement of a project, identification of critical path. We will learn about the factors to be considered while developing project budget. Methods which are used to manage the risk by developing different risk strategy in the project life cycle are described in the report. Control is essential to evaluate the performance in every field and there are described various quality methods to evaluate the performance.
Project is a combination of resources and people with different skills and expertise working to achieve a specific objective for a particular fixed time period. This is purely based on effective planning of resources and manpower. The core principles/ characteristics of any project are explained below with their importance.
The scope statement for a project includes all the essential details and requirements for effectively execution of activities of the project. The scope includes all the limits or boundaries to be considered while executing any activity. These boundaries may be of time or deadlines to be meeting for an activity and budget allotted to a particular activity. The scope defines the objective and mission behind any project. The scope management is very well known approach in project management which focuses on the quality of work and products and services created by the project. Scope of a project includes the Work Breakdown Structure (WBS) which collects all the information required in the project and deliberates all the responsibilities and information to the most appropriate manner in the project. This deliberation makes all the activities clear and effective (Mentis, 2015).
Calculation of the days to complete the project by critical path-
The longest or critical path is a-c-f and the total days are 18 (4+6+8).
For efficient completion of any project there should defined effective budget planning for every activity. This helps to ultimate utilisation of resources and achieves profit maximisation by reducing the extra costs. Budgeting is a tool of strategic planning and beneficial for the effectiveness of any project. Budgeting is a process of estimation which is influenced by many factors and can be develop by using the following approaches.
The risk management process is very essential to increase the certainty and stability in the business and make develop a positive atmosphere in any project. Risk strategies help to diversify and reduce the level of risk and can be developing by the following steps.
There can be done qualitative and quantitative risk analysis and risk response planning and risk monitoring and control to manage the risk. To control or manage the risk in the project there must be effective allocation of resources and every human resource must be clear with the goals and objectives. There must be developed effective Work Breakdown structure in the project. The risk management process and tools must be effective and accountable. There should conduct an effective monitoring process to control the activities and lower the risk (Andreji?, et. al., 2011).
There are different quality methods to ensure the success of the project by evaluating, monitoring and controlling the project. These are as follows-
Wroxham designs and builds boats and motors for the leisure industry. The company has stability and reliable in the market and successful to retain the customers. The company can estimate its demand and its level of internal efficiency because they cover a limited but loyal number of customers. But by the introduction of globalisation and removal of trade barriers it becomes tough and competitive environment for the company to retain its customers and compete with the competitors in the market as in the company required some modification. The company is expanding its business around the world to compete with its rivals and for that it wants to introduce the ERP system to manage all the activities and connect the company with all the companies around the world. There are different features of this system which are beneficial for the growth of the company (Voordijk, 2016). Wroxham is introducing the ERP system in the company to meet the requirement of the competitive business environment. This new process or project should be managed effectively to take all the benefits of it and achieve good results. There are activities which are required to manage effectively for the project’s success. They are as follows-
There must be some objects and goals of every project to be achieved. Without any objective the project is incomplete. So it is essential to make a particular goal for a project and all the activities leads in the direction of the goals. Every person involved in the project should be clear for the objectives in the project so there will be less miscommunication in the project. There must be defined an estimated time to achieve these goals which are divided in the different activities. The lack of communication can generate problems in the effective execution of the activities in the project. This can be done by the effective organizational structure in the project which is liable for the communication channel of any project (Reuther & Jetton, 2013).
Project manager is the person responsible for the effective management of any project. A manager is a person who is capable to make others effectively work and utilisation of resources effectively in every project. The role of project manager is crucial and important as in themonitors and diversifies all the activities effectively to manage the project activities. A project cannot be successful without the effective working of the project manager (Roeder, et. al., 2013). The role of a project manager is defined as below.
Project management skills in a project manager-
A project is developed and run in many stages in which there are different factors influencing the running of the project. Project life cycle defines the stage of any project and its characteristics. There are four stages in the project life cycle which are as follows.
Leadership can be defined as leading the activities of the employees towards the goals and objectives of the company. Every project is depends on the effectiveness of the performance of the project employees. A leader can influence the employees by motivating them towards the growth of the project. There must be leadership qualities in the manager of the project without which the performance cannot be increased of the project. There are different styles of leadership which can be used by a leader to motivate its employees (Patanakul, 2015).
Autocratic leadership style: In this style of leadership the leaders make decisions without considering other’s perceptions. This is a de motivating style of leadership. Employees are depended on the leader for any kind of decisions. There comes a lack of involvement of the employees in the project and there comes a high level of staff turnover. This is a classical approach of leadership (Aarseth, et. al., 2014).
Democratic leadership style: In this style of leadership decisions are taken by considering the perspective of others by the leader and benefit of different perspectives are taken. Consultation is taken by the leader before taking the decision. This increases the motivation and involvement of the employees in the projects growth. This helps to increase the performance by leading them in a positive manner. This is a persuasive and modern style of leadership (Aarseth, et. al., 2014).
Laissez- Faire style of leadership: In this style of leadership the role of employees is very important as in there is divided the responsibility of leadership within them. This helps to innovating the new ideas and innovations by the sub ordinates in the projects and also increases their level of involvement in the growth of the project. This is very useful for increasing the creativity and highly motivated approach of leadership (Aarseth, et. al., 2014). There are difference between the perspective of the management and the leadership. The factors which are covered by the leadership are different form the management. These factors are as follows.
Working in a team is very beneficial and important for the success of any project. Working in a team boosts the level and speed of the activities in a project. Project teams are executed with the people having the skills and creativity in their performance and generate new ideas which are beneficial for the growth of the project.
Advantages of project teams-
There are defined many reasons behind the failure of the teams-
The teams which are executed in wrong size failed because of the lack of management of the activities of the access team members. This generates the ineffective communication which misleads the performance of the activities. Inadequate resources can be the reason for the failure of the team projects. Resistance to change is also a reason for the failure of the team in a project.There must be taken the advantage of the opportunities by developing manager the creativity and new ideas by motivating the team members. But when these opportunities are not utilised then it leads to the failure of the team. So we have discussed all the elements which are essential to manage the project and their role in the process of project management. To make the process more effective the role of budgeting and planning are crucial. The company Wroxham conversion is taking an investment of 750000 pounds which is the total budget of the project and the time limit is 8 weeks which must be considered while executing the project. This can be done only by project management process. The company can assure the effectiveness of the application of ERP system in the functional environment to increase the performance of the company (Reuther & Jetton, 2013).
The Unit 6 Managing Successful Business Projects Assignment has stated an overall study of the project and its management in every organisation. There is defined different characteristics and importance of the projects and its management. There is a project of a company to introduce new technology in the company is analysed in the study with all the attributes.
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Unit 6 Managing Successful Business Projects Assignment is about the importance and role of the project management in the business process, We are posting units solutions so scholars can explore the our Assignment Help in UK and get review the quality of our work.