Managing Projects Topup program BAV

Bài tập thuộc 1 trong 6 assignment của Đại học Sunderland chuyên ngành tài chính ngân hàng liên kết với Học Viện Ngân hàng Việt Nam. Nội dung cơ bản của assignment được chia ra làm 2 phần. 1)Projects are normally categorised into different types. Define the type ofproject identified in Task 2 and give the reasons for your choice? (8 marks). 2)What is ‘Scope Management’ what would you include in your managing scopestatement for the case study in Task 2. What tool could you use to show the subdivision of the scope of work? (6 marks). 3)What difference would it make if you plot out a full project Gantt chart and identify the critical path? (6 marks). 4)How would you decide if the project in the case study in Task 2 had been successful? (4 marks). 5)Throughout a project events may happen that necessitate minor or major changes to the project plan. How would you manage any changes in order tocontrol the project in the case study in Task 2? (6 marks). 6)What methods (project evaluation, monitoring and control) would you introduce to ensure the project in Task 2 is completed successfully ontime and withinbudget? (10 marks) Part B: Case study về JBK company. As Project Manager responsible for the transfer and startup of the new technology, you are required to prepare a report (2,300 words + 10%). From a project management perspective outline the activities required to successfully manage this new initiative, ensuring that it is ontime, and within budget. The analysis should include the skills and competencies required by the Project Manager, along with the project management process. Use examples of the concerns, Project Life Cycle stages, processes, leadership, and administration and control problems associated with managing the lifecycle of this major project.

ASSIGNMENT COVER SHEET UNIVERSITY OF SUNDERLAND

BA (HONS) BANKING AND FINANCE

Student ID: 169154426/1

Student Name: Mai Le Phuong

Module Code SIM335

Module Name/Title: Managing Projects

Centre / College: Banking Academy of Viet Nam

Due date: January 2018 Hand in date: 12 January 2018

Assignment Title: Individual assignment

Students Signature: (you must sign this declaring that it is all your own work and all sources of information have been referenced)

Managing Projects SIM335

Prepared by: Mai Phuong Le

Student ID: 169154426/1

Submission Date: January 2018

Table of Contents

Task 1 4

Short answer questions 4

Introduction 5

Main body 6

Conclusion 10

Task 2: 11

I Introduction 12

2 Detail project plan 13

2.1 Overview of the project plan 13

2.2 Project life cycle stages 13

A Identify Objective 14

B Stakeholder analysis 14

C Management skills 15

D Team Development 15

E Project scope: WBS 16

F Project Schedule: Gantt chart, Critical Path Method 20

E Project cost 24

G Risk Assessment and Management 25

3 Project Implementation 26

4 Project Closure 30

CONCLUSION: 31

References 32

APPENDIX: 33

Task 1

Short answer questions

How to determine if the project in task 2 is successful; how to manage any changes in order to control the project and what methods (project evaluation, monitoring and control) will be introduced

to ensure the project in Task 2 is completed successfully on-time and within budget

Main body

1) According to (Richman, 2002), there are three types of projects:

- Market-driven: Producing a new product in response to market needs (eg A cosmetic company

sells product and maintain its market share by producing quality lipsticks that meet consumer needs)

- Crisis-driven: A fast solution in response to an urgent situation (eg In response to complaints

about defective mobile phone, that manufacturer may quickly organize a project to manage the recall and replacement or a public relation campaign)

- Change-driven: the need to change operations to match the current environment or to be more

effective (eg.A retail sales company give approval of building website to maintain its share of the market)

Type of project in Task 2 is Market Driven Because the market of designing and manufacture of industrial Textile for the automotive industry has become more and more competitive with the growing demand from customer so JKB Bloggins has to create project to response to market needs The project contains of training employees with new technology in a new manufacturer to produce goods for customers

2) Scope management refers to the processes required to make sure that the project comprises all

the work required, and only the work required to finish the project fruitfully It is mainly

concerned with defining and controlling what is or is not comprised in the project (Diego & Sanchez, 2013)

In case study Task 2, scope management will include Implementation Plan how long does

an activity, what should be done first, what should be done later; Project Schedule with the use

of Gantt Chart and Critical path method; Project cost; Risk assessment and Management

To show the sub-division of the scope of work, Work Break Down structure is used

It will separate the work into manageable work pieces It is a diagram which illustrates its

components parts By depicting the hierarchical breakdown of activity, it define the project scope These works will be assigned appropriately member of team project to enhance

productivity and executive strategy (Burke, 2003)

By using this tool, project manager can break complexity down into simple and transparent components that make it easy to manage the project

3) Gantt chart is a tool used to represent the timing of many tasks that are needed to finish

project When project manager plots out a full project Gantt chart, it will show the total time span of a period to depict days, weeks or months, how long it lasts, when it starts; when it ends (Burke, 2003)

Once the project manager has identified the Critical Path in the Gantt chart, he can calculate the longest path of intended activities to the end of project The earliest and latest points that each activity can begin and end without lengthen the project Critical path can identify which activity

is critical (the longest path); which has “total float” (activity can be held up without lengthen the project) Therefore manager can determine which tasks are crucial for deadline and which are not

to focus resources to complete project

4 The project is considered to be successful is when it achieves all the objectives Project

manager can measure the success of JBK Bloggins’ project base on Schedule, Scope, Budget, Team satisfaction, Quality of work, Customer Satisfaction This means project outcome has to match with the objective which is finished on March 2018, within £12 million pounds budget with quality manufacturing site and technology; well trained employees from Asia and satisfied customers, sponsor with newly produced supplies

5) Change management is a system of procedures that monitors emerging project scope against

the scope baseline It requires documentation and management approval on any change to the baseline (Elearn, 2007)

In case study of Task 2, no matter the changes (risks) are, project manager has to allocate

a formal change control process to deal with changes to the plan

In details, project manager has to:

• Identify Risk: Determine areas of risk, uncertainty and constraints that can affect JBK’s project

• Quantify Risk: evaluate risk and prioritize level of risk and quantify their Probability (P) and Impact (I)

• Develop Response: decide how to respond to the identified risks

• Risk Control: It can be training team members, communicate will stakeholders through

meetings and reports, continually monitor and review

6) Project evaluation is the systematic study of the project to notify improvements as its

progresses and to illustrate value when the project or crucial stages of it are complete (Richman, 2002)

Qualitative and Quantitative are two of techniques will be used in Task 2 for Manager

conducting evaluation With two types of data, manager after that can make reports to compare

to planned costs and time whether resources are used successfully or not

Periodic inspections will be the methods to confirm project objectives are being met This method will be inspected weekly or monthly to ensure the project is going well (Richman, 2002)

In order to ensure effective Monitoring and Control process, project manager apply Total Quality Management and Continuous Improvement

Applying S-curve method in Monitoring and Control makes it easy and transparent for

manager to tracking process At the end of week, month or quarter, manager can total the project budget expenditure to date then make comparison with planned spending and planned date Any significant deviations between actual and planned budget spending and deadline can cause a problem

Conclusion

The first part has answered 6 basic questions about the process of establishing project Based on that, the type of project in case study of Task 2 is Market Driven; scope management will include Implementation Plan how long does an activity, what should be done first, what should be done later; Project Schedule with the use of Gantt Chart and Critical path method; Project cost; Risk assessment and Management with WBS as a tool; show the critical path can help manager determine which tasks are crucial for deadline and which are not to focus resources

to complete project; match with objectives mean the project is successful; risk management as well as monitoring and control are important

Task 2:

JBK Bloggins Ltd Project Prepared for JBK Bloggins Prepared by: Project Manager

I Introduction

JKB Bloggins Ltd is a company which focus on designing and manufacturing of

industrial Textiles for the automotive industry Sine it started trading in the UK in 1980, the company now is successful in this industry However, because of the intense competition from all over the world, JKB Bloggins wish to improve their competitiveness in the car industry markets The construction of this new manufacturer with the new technology and machinery will help the firm to expand its business

From a project manager perspective, there are four phase that this project will go through which are: Initiation phase, Planning phase, Implementation phase, Closure Phase (Burke, 2003) Each phase will give out appropriate evaluation in order to finish the project In addition, project manager’s role is also imply by monitoring risk, manage things to be done on time within given budget Work breakdown structure, Gantt chart and other technical methods are used in the project to guarantee the completion of this project

II Main Body

2 Detail project plan

2.1 Overview of the project plan

In order to guarantee JKB Bloggins’ project is successful, a detailed project plan will be given out which go through phases of project life cycle (Richman, 2002) By applying project management techniques and tools, charts, network diagrams are the used to make project specific, easy to understand and match up with the condition It is also worth mentioning that in this project, risks are determined so that project manager can calculate costs and avoid risks

2.2 Project life cycle stages

According to Field and Keller (1998), the project life cycle has 4 phases which are Initiation Phase, Planning Phase, Implementation Phase and Closure Phase Project life cycle refers to the series of phases that require project to pass through from its initiation to closure Phases are normally sequential with the names or numbers are decided by the control and management (Diego & Sanchez, 2013)

Initiation phase: The first phase of the project Project objectives or needs are identified The

feasibility of proceeding is conducted to investigate The project manager then will seek for the acceptance to move on to the next phase

Planning phase: This is when the project is made with steps in detailed In this phase, project

team will determine all the work, tasks, resource as well as costs and risks estimation This will help to make the plan with detailed schedules and get ready to be executed

Implementation or Construction Phase: This is when the plan is put into action The work of

project is monitored and adjustments if needed and then reviewed carefully If there is any

changes from the initial plan, it will be recorded as well Maintaining control and communication are also crucial during this phase to ensure everything will run smoothly as the plan

Closure phase: This phase has the role to confirm the project has been implemented and

B Stakeholder analysis

Stakeholder analysis have the aim to identify the needs and expectations of stakeholders

The analysis of project stakeholder will built strategy to determine and manager for

positive outcomes the influence of the stakeholders on the project (Burke, 2003) Project stakeholders include internal and external stakeholders which are people and organizations involved in the project Their interests are impacted by project (Burke, 2003)

JBK Bloggins project’s stakeholder consist of internal stakeholder: project team member, Project manager, Sponsor and external stakeholders which are contractors, Suppliers, Design and Constructions Company, customers (refers to Appendix B)

Stakeholders Analysis (Eden, 1998)

C Management skills

There are basic skills that required manager to comply to ensure the success of project

completion They are People skills, Project Management skills, Knowledge of the organization, Technical skills and Integration skills (Richman, 2002)

In order to make a successful project, manager has to be good in all five aspects The first

one is Project Management skills These skill consist of the tools of the trade to plan and

execute a project These skills is the combination of cost estimation, analysis clear reports and project audits, organize workable schedule, analysis progress information (Richman, 2002) With these skills, manager can managing plan the project carefully and control the process strictly (refers to Appendix C)

D Team Development

A successful project manager is the one who can develop and lead a project team (Durr, 1999)

In this project, JBK Bloggins has to recruit and training employees The older employees will be in the team to create the plan, organize things The new employees are recruited and then trained in Asia to work in the new manufacturing site After the manufacturer has been done, employees will be sent to this manufacturer to work in it and undertake new technology

It can be seen that the company has many types of member for the project They may have different background, different positions or come from other organizations but have the same goal is to accomplish the project It will take time for them to get to know each other and commit to the project But after that, team members will work effectively and produce high quality outcomes

E Project scope: WBS

In this JBK Bloggins’ project, project team will have to apply this WBS to organize and define all tasks to people related to project to complete it

Chart 1: Horizontal Work Breakdown Structure of JBK Bloggins’ project

3 Implementation Plan

Below is the implementation plan for the project of JBK Bloggins:

Table 2: Implementation

Activities Name of activities Duration Predecessor

JBK’S new technology and machines into a new

F Project Schedule: Gantt chart, Critical Path Method

Gantt chart

After conducting the network diagram, the next move is to decide the critical path

Richman (2002) defined critical path is path that go through the network diagram which will help to calculate the earliest possible duration of the project to be finished The critical path in

this diagram for the JBK project is A-B-C-E-F-G-H-J-K-L-M-N-O

Member after being recruited will be trained in Asia for 12 months to attain knowledge and experience Applying 6 days workweek means there are 312 days for 12 months with 26 days go training per month, excluded Sunday every week After that, they will be sent to new manufacturer to implement new technology which explain the relationship between each tasks above

Project schedule

• Start date: 1 – Dec – 2016; Finish date: 2 – Mar – 2018

• Work 06 days per week (from Monday to Saturday), 08 hours per day (from 8AM to

5PM), 01 break hour for 395 days

When the project is implemented, it is necessary to add contingency amount to cover costs of risks and uncertainties The acceptable rate is from 5-10% depending on the project environment and degree of risks Thereby, the total cost for the project will add more 10%

which make into the Total cost estimate is 11,159,500(£)

There are three most expensive costs which are costs for Training, Machined purchased from Asia and Construction Because it is required to build a manufacture that can stand all weather condition with the machine purchased from Asia Hence this process will take time and cost high due to the advanced technology requirements