Paper Example on Business Project Management

Published: 2021-07-02 06:18:15
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Business Project Management (BPM) is defined as the use of general project and business management skills, knowledge, techniques, and tools in applying for program, portfolio, as well as project processes in order to meet and exceed the needs of stakeholders, as well as deriving benefits from and capturing value through project-related activities and actions for accomplishing an organizations business objectives and goals, while also fulfilling the related strategic initiatives (PMI, 2013). PBM is an integral part of businesses as it ensures that the firm establishes a clear understanding of what a project is and what is not, and what is needed in accomplishing the organizations business objectives and strategic initiatives. In essence, the PBM ideals are implemented by project management principles, practices, and processes, which consequently have a substantial impact on the firms time to market, quality to market, cost to market, observing time, as well as recognizing the customer.

The 4D methodology provides the assurance of total control over the budgetary allocation and project objectives while also ensuring that quality and productivity are delivered. It also provides and opportunity for the project manager to comprehend the factors that influence the success of the project. 4Ds stand for define, design, do and deliver (SRA, n.d). By defining, the aims for the project intervention are set. The objectives of achieving the aims are also provided, as well as identification of high-level timescale, including the setting of the main project stages and milestones. Design entails planning to meet the objectives, such as coming up with tie estimates, preparing cycle of events, as well as identification of dependencies and constraints (SRA, n.d). Doing the projects entails planning for the project events and carrying them out. It also involves capturing and recording data, providing timely responses, as well as reviewing the progress against the time. Lastly, delivering involves testing the product or service, measuring the outcomes against the objectives, as well as learning from it and incorporating that into practice.

The project entails the construction of Brighouse and Sowerby Bridge Pool and Fitness Center as the existing public swimming pools in both towns needed replacing. That at Brighouse had closed in 2006 while that at Sowerby was beyond its operational and natural life. The projects main objective was to come up with two new swimming pools in the two towns, which are to be modern, fit for swimming, as well as meet today's public leisure users and the whole community. The total budget was 11m.

Evaluation of Application of Concepts of BPM

Project management, as identified by the 4Ds starts with defining. The project was successfully defined. Firstly, the project had clear goals, which was developing two new swimming pools in Brighouse and Sowerby, which are to be modern, fit for swimming, and meets today's public leisure users, which were covered in the project charter. According to Pan et al. (2007), the Charter provides the foundation for rolling out the project and provides insight about how resources will be utilized, particularly on cost, time, and scope precincts. Besides, the projects Measurable Organization Value (MOV) was well defined. According to Jack (2003), the MOV is the projects overall goal and a measure of success, which is correlated with the return on investment (ROI). The project was completed in time, meaning that the timescales and the project milestones were well defined. The scope of the project was defined, which entailed coming up with the project goals, deliverables, functions, tasks, deadlines, features, and ultimately costs (Shtub, Bard, and Globerson, 2005). Since the two projects had no adequate funds, the additional funds were obtained by running a business case that provided the extra 4.5m. The designing phase entailed the assigning of the contractors, the design team, as well as the community members. Essentially, the project team was specified, which included the council, Turner & Townsend, QS and Willmott Dixon Construction was appointed as the main contractor, as well as the design team. The team came up with the project milestones and requirements, as well as the different tasks. Doing was the actual construction of the swimming pools in both towns, where the project team met the project milestones and tasks. It was the work of the prime contractor, but also the other project team members were also involved. The project manager also organized monthly and fortnight meetings to track the progress of the project. Lastly, delivering was done after the project was completed, which was within the budget and time.

3a. Preparation and Discussion of the Planning Documents

Time Management Concept

Project scheduling is important in ensuring that each project milestone is completed within the stipulated timeframe (Atkinson, 1999, p338). Ideally, it entails timely termination of the tasks within the Work Breakdown Structure (WBS). A schedule or time table is paramount for project management as it defines and organizes all project tasks systematically (PMI, 2013). The schedule provides a graphical and visual representation of all predicted tasks, their start and end times, the milestones, all task durations, predecessors and also the amount and type of assigned resources.

Matrix Chart

The matrix is used for defining individual roles and responsibilities in the key ten areas of project management, which are: project integration, scope, time, cost, quality, human resource, communications, risk, and stakeholder managemerial components (Zwikael, 2009).

Project Team/Actions Project Integration Scope Design Quality Stakeholder Management Human Resources Time Cost Quality Risk

Turner & Townsend (Project Manager) Design Team (Willmott Dixon Construction) Calderdale Council (Project Sponsor) Willmott Dixon Construction (Main Contractor) Community Architect (Willmott Dixon Construction) Gantt Chart

Define 2 Months Design 4 Months Do 7 months Deliver 1 month

3b.

Work Breakdown Structure Concept

The Work Breakdown Structure (WBS) is used in breaking down the project into easily manageable tasks and components (Desmond, 2004). For this reason, it makes complex projects manageable. In essence, it helps identify individual milestones and tasks that will lead to the completion of the project. Besides, it helps in project organization, assigning responsibilities, as well as allowing for more accurate estimation of time, cost, and risks involved.

WBS Chart

Tasks

Construction of Swimming Pools in Sowerby and Brighouse

Initiation Phase

1.1.1.Conducting a Feasibility Study.

1.1.2. Team Selection

1.1.3. Contract signing

1.2. Project Planning

1.2.1. WBS

1.2.2. Resources.

1.2.3. Developing a schedule

1.2.4. Cost estimation.

Project Execution

Establishment of communication strategies

Providing training to the executives

Actual construction of swimming pool

Project Monitoring and Control

Ensure that project milestones are met.

Preparing Status Reports

Developing scope plan for managerial purpose

Creating risk plans

Quality plans

Schedule management

Project Closing

Handing over the project to sponsor.

Preparing the Closure Report with all deliverables.

Explanation of the 3-Level WBS

Level 1 headings, designated 1.0, is the top level of the WBS, which is usually the project. Level 2 headings, designated 1.1, 1.2, 1.3, 1.4, and 1.5 is the level summary while level 3 headings indicated 1.2.1, 1.2.2, etc. covers the subcomponents to each level 2 summary. It is the lowest level.

3c.

Cost Management Plan Concept

The cost management aspect entails coming up with a budget, which should not exceed the amount provided by the sponsor (Kerzner, 2013). For this reason, the project manager should make accurate estimates. Also, the benefits of the project should be more than the cost of the project. In addition, the project should recoup the amount that was used in constructing the swimming pools. In essence, the project should directly be correlated with an increase in profitability through an overall increase in sales revenue.

Payback Period.

It is the time which the initial cash outflow of the two investments is expected to be recovered from the cash flows (Boardman, Reinhart, and Celec, 1982), and in this case, the two swimming facilities will generate. It is calculated by dividing the initial investment with the cash inflow per period. The investment attracted 6000 users weekly at Brighouse and 5000 at Sowerby. The membership increases steadily by 1000 users in a few months. Assuming that each user pays 4, that equals.

Weekly cash flows: (6000+5000)*4=44,000.Weekly

44,000*4=176,000.For one month

176,000*12=2,112,000For one year

Payback period in years=11,000,000/2,112,000=5.21 years=5 years 4 months.

3d.

Quality Management Plan

This is key towards the satisfaction of the client (Atkinson, 1999. P340). The internal quality processes are epitomized by the project team but are reviewed and checked by the project manager who in turn, ensures that requirements are adhered to. The main components include quality control, quality planning, and quality assurance. Quality planning entails coming up with standards

Quality Management Plan.

The following diagram provided the quality plan of the project:

 

Discussion of Quality Management Plan

Quality planning entails coming up with standards, quality metrics, and acceptance criteria between the sponsor and the project team (Globerson and Zwikael, 2002). For this project, it ensures that each facility has a 25m swimming pool and the design is maintained. Quality assurance entails reviewing the project plan, which is looking into the budgeting, effectiveness of communication between the different stakeholders and the project team (Globerson and Zwikael, 2002). Quality control entails reviewing the team, as well as initiate control actions, and inspecting and evaluating results and trends.

3e.

Communication Management Concept

It describes the process of instituting communication procedures and protocols between the clients and the company, which as the company purports is given high priority (PMI, 2013). This is provided in the planning stages. The company makes prime use of technology via phone and emails among other platforms.

Communication Plan

It involves communication with the public and that within the team. Within the team, it would be monthly and weekly. As for external stakeholders, which is the community, it will be monthly. Mainly, for internal communications, it would be in the form of minutes and status reports. Externally, it would be based on questionnaires to ensure that user needs are taken into account.

Discussion of Communication Plan

For the successful completion of the project, the needs of the users and that of the sponsor must be met which is facilitated by an effective communication plan. Essentially, the effective communication facilitates the meeting of project goals, as well as ensure effective management of the cost, time, and quality of the project. Monthly and fortnight reports will allow the project manager to track the progress of each team member.

3f.

Risk Management Concept

Risk management entails planning for and anticipating potential problems before happening, thus causing damage and compromising the completion of the project (Cervone, 2006, p246).

Risk Management Plan

For the two projects, this is a continuous process where risks identified, analyzed, planned, tracked, and controlled (Nieto-Morote, A. and Ruz-Vila, F., 2011), as illustrated below.

 

For instance, for flooding, the risk can be mitigat...

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