Example Of Project Management Report
The time available has reduced by 25 percent which reflects a decrease by one month in the time available for preparation and conducting the wedding. The project which was to be concluded in June must now be concluded in May. The time lines for each activity must, therefore, be readjusted in line with the new time deadline. Everything must be concluded within Three months and not the original four Months
The budget has increased by 12 percent. This represents an increase of $1800. The total amount of money available for expenditure is, therefore, $ 16800. The budgetary allocations for each activity will, therefore, be varied accordingly due to the changes in finances.
Work Breakdown Structure (WBS)
The work breakdown structure will not change because all the projects will still be carried out despite the reduced time and the increased funding.
Preparation Biscuit and cakes reduced to 78 days. It was ending 20 days before the date of end date. But due to the time constraints it will end on week to the end date. This will ensure that production is not heavily affected by the limited time available to conduct the wedding.
The time for gown preparation is reduced to 60 days. It will now begin nine days earlier to ensure that the time limitations do not greatly affect the production.
The time for flower production is not affected because it can fit within the time available. Its revenue is important to the project. It is just sufficient to start one month early to balance the available time for the project
Risk management plan
The Human resource must be reviewed up wards to ensure that the project is completed within the time frame of three months. It would be necessary to ensure that the amount of money collected to fund the project is not affected by the reduced time frame. The amount of $1800 added to the project does not provide the necessary buffer.
The project design I intended to ensure that the activities taken are not eliminated while trying to align with the time limitation. The changes in time frames will ensure that the project does not run out of time.
Reducing the time frame for the preparation of the project to six days from 8 days will require more man power to perform the task. This may lead to increase in the costs at the preparation.
The reduction of the time needed to produce cakes and biscuits will lead to less income from biscuits and cakes. This will have effect on the money available for the wedding. The number of cakes produced in 78 days will be lesser than that produced in 100 days. To the balance the issue of finances, more manpower will be required to help in the production of cases. This increases the costs of salaries payable to people working on the production of cakes.
Gown preparation time has been reduced to 60 days in light of the new change in deadline. This has the consequence of reducing the number of gowns produced due to the reduction in the time that had already been allocated.
The costs of production should remain the same if the number of gowns to be produced remains the same. More staff will be required to handle the work within the time so that the budget is not affected. However, if the rate of production is maintained as before, the amount of revenue obtained will drop.
The Myki project was initiated by to bring in a smart card ticketing system. The Victorian Transport authority wanted to replace the Melbourne ticketing system (Gole, T & Shinsky, G 2015). It was intended to replace the existing ticketing system. However, the project had several flops leading to it suspensions. Many problems befell the project right from its inception.
The members assembled by the Victorian Transport Authority lacked the skills required to undertake the project. Their knowledge of the ticketing system was scanty. This meant that they could not make good choices about the project. The members also lacked the skills to deal with the ICT intensive project (Adam, 2012). Only one member of the TTA board had the relevant skills in IT. This compromised performance.
The costs of the project escalated. The project was supposed to cost $741.9 million but this increased to $1.35 billion.
The TTA chose a high risk option based on solution 2. The use of “open architecture” by TTA which was highly risky contributed to the failure of the project.
The vendor that was chosen by the TTA was also untested. This compounded to the problems of the authority. The costs consequences of the choice were high. An inexperienced contractor frustrated the project.
The cost of the project must be properly assessed to ensure that there is no under quoting. A project may not fail due to incompetence but it can be because the there was an underestimation of the amount of money needed for the project. In this case for example if the project costs extend to above 16,800 the project may easily be frustrated.
Risk analysis must be done to ensure that future risks are taken into account when coming with a budget for a project. A project that fails to appreciate the risks involved can easily be frustrated. Costs of materials needed for a project may escalate. This has the potential for frustrating the project. The need to thin the budget may lead to poor quality work or no work at all.
People having the necessary skills to handle the project should be sourced. Failing to get professionals knowledgeable in the project area is likely to result into increase in costs. It is only a person having knowledge in a project that can reduce the amount of money expended in a project. This is one if the failures that occurred in the Myki project.
The selection process of service providers should be above board to ensure that competent and experienced service providers are hire. This will go a long way in reducing costs and the time taken to complete a project.
Quantmleap (2015) “Myki – A Story of a Failed Transport Infrastructure Project”, Retrieved from http://quantmleap.com/blog/2011/11/myki-a-story-of-a-failed-transport-infrastructure-project/
Gole, T & Shinsky, G (2015) “Learning from failed ICT projects” Retrieved from http://www.lexology.com/library/detail.aspx?g=cca9ae3a-2fa7-4550-9445-39bc32a4c3ff
Adam, C (2012) “Labor underestimated myki cost and complexity, inquiry told” Reteieved from http://www.theage.com.au/it-pro/government-it/labor-underestimated-myki-cost-and-complexity-inquiry-told-20120821-24jvm.html
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