Question 1
The Unique Vocational Home Resort project will take place over roughly 16 months with a commencement date of January 5, 2018. The initial milestone will be to begin the construction of the house after writing a great business plan. This is a process that must be certified by relevant authorities to ensure that any hitches are avoided at all costs. Following the approval of the project, the appropriation and assigning of resources to the relevant project management teams will commence. The process of appropriation and assigning of these resources will be under great scrutiny since it is a process that is deemed great to the completion of the project. In fact, assigning these duties and resources to the team management plays an integral role in ensuring that the project is a success (Lester, 2007). All these resources will be received by the first month of the project’s inception so that when everything is in place, the project can be started officially.
The second milestone will be to locate and build or lease a building that will be used in opening the Unique Vocational Home Resort. Prior to this particular milestone being met, it will be essential to ensure that both the management team and the real estate agents will have to sit to determine what kind of building the will best fit them. This discussion will be an important step towards achieving the objective of this project as it will see the stakeholders agree on numerous issues that might otherwise hinder the smooth progress of the project. The discussion will also help in determining the location of the project at hand. Once the real estate agents determine and plan and a ready with it as per the management’s wish, the management must give a go-ahead to ensure that the process begins forthwith. The next step will be going out and locating an area that best suits the project. It will go hand in hand with the process of determining whether it meets the criteria. This step will be completed in at least three months after the project commences. After finding the office space that will be vital for the entire process, it will be the time for the project management to begin building the edifice that will hold the offices. These offices will be identified of build by both the team and management to ensure that everything is acceptable. Additionally, they will also determine if there is a space to be purchased until the building is completed (Chin, 2014).
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The third milestone will be to determine whether or not the building can just be bought or rented. If at all the project team management resolves that they also need to rent a house, it will be essential that they do so in two months following the commencement of the project (Lester, 2007). Additionally, during this period, it will essential for the management team to begin taking bids from architect firms that will play the role of remodeling the office space and the building that will eventually house Unique Vocational Home Resort. By May 1, 2018, all bids and proposals will have been taken and a consideration made regarding the best bid. They will also have decided on the company that will do the construction, which will have to comply with all the requirements.
The fourth milestone will be to have the architect firm that has been selected to do the modeling of the office space or the building that will house the project. This is a process that should begin just 3 weeks after the company is identified and legal measures or other requirements are met (Chin, 2014). During this period, the architect company must remain in constant communication with the project management team and the management. This will help in addressing many apparent issues that may arise in the process that may as well affect the smooth progress of the project. If there are no problems that are likely to occur, there will be still the need to remain in constant communication. In the following two months, there should be the equipment and other materials required to ensure that the project begins its operation. However, in the case that there is need to have a building to be constructed, it will be essential to have the necessary and essential material for construction at the site. However, it will require that the management team operates with vendors to ensure that everything is in place and the process is moving smoothly. All shipment and purchasing requirements must be met to ensure that everything is done in the manner that will ensure that the project progresses well.
Question 2
The significance of this procedure ought to be acknowledged by the undertaking group so as to create appropriate methodologies. Ordinarily, the venture group may unwind after the execution stage, and along these lines, the task may not be completely arranged for this essential procedure. All endeavors by the venture administration group amid the task life cycle are coordinated towards the proficient and smooth undertaking conclusion process when the expectations are closed down by the client. Venture deferrals can be anticipated by the inclusion of the client all through the undertaking life cycle. Spending invades and venture defers influences the association unfavorably, and a smooth task conclusion process will be savvy for the business (Chin, 2014).
Question 3
To begin with, there will be those employees who will be paid on hourly basis and others who will receive their pay after working for overtime. All these arrangements will be made in order to ensure that all employees receive their remunarations at the required time. Nonetheless, there will be also the need to pay those who will not be casual workers for their effortand these will bring about elusisive costs such as burnout and turnover. When it comes to improvement of the efficiency in terms of performance at various levels, the hierachial order will remain another challenge that the project management team will have to address. As a matter of fact, the compensation scheme will also have to be developed that is aligned to the numerous levels of employees depending on their duties during the project development processs. However, it will be mandatory to ensure that all employees receive their pay at the appropriate time to avoid work related issues that may arise in the long run (Heagney, 2011).
Many employees prefer to work over time since they believe that during such hours, they are paid well. The different job groups will be salaried thus ensuring hat if a worker opts for overtime, they are compensated appropriately. One would not want to come up short before the main objective of the project is achieved. However, the project management team will have to be mindful of the likely high overhead expenses. Such expenses must be considered before the start of the project. We will endeavor to highlight these overhead costs and ensure that overhead funds remain reserved to take care of the numerous possible cases on overhead expenditures. For the most part, there are chances to abbreviate a couple of basic exercises at not as much as the everyday overhead rate. Under particular conditions (which are not uncommon), colossal reserve funds are conceivable with little hazard at long last there are times when it is critical to reassign key gear and additionally individuals to new ventures. Under these conditions, the cost of packing the undertaking can be contrasted and the open door expenses of not discharging key hardware or individuals (Heagney, 2011).
Question 4
Since this is the bearing for hierarchical control and it shows up from the points and key designs of the association, we will ensure that this process also goes on successfully. During the design process, we will ensure that general designs are converted into particular execution measures, for example depending on the market price, income, and spending plans. The procedure of authoritative control is to survey and assess the execution of the framework against these setup measurements. Once the WBS is created, a working timetable will be required to ensure that everything goes on as per the plan. At that point cost and span can be doled out and this has to take into consideration a number of areas. One of them is considering the aggregate cost bend to be produced. It will go a long way in helping in measuring the EV and the total cost of the project at various levels. The Planned Value (PV) is another area that the project management team will have to focus on based on the incentives and other factors. In so doing, the project management will be able to understand the level of the work done at all levels of the project. By having all these data available, it will be instrumental to ensure that estimated value is not affected (Lester, 2007). Some of the key Earned Value measures that we will focus on meeting include:
Budget at Completion (BAC)
Earned Value (EV)
Planned Value (PV)
Actual Costs (AC)
Question 5
It will be essential to have a well-organized way of doing things as the project progresses. This will go a long way in ensuring that the project is completed within the deadline and numerous areas are also addressed to ensure that we achieve the best out of the project. This also helps in addressing the ever increasing spending during and sometimes after the completion of the project. Having a well- set timetable will help address some of the things that had initially been unclear. For instance: you have leased some hardware for a predefined timeframe and sometimes the price gets inflated and a number of things are put to a halt because of these conflicting divergences (Heagney, 2011). In any case, one may need more time to complete the project as required. This has also some effect on the manner in which the tasks will be performed and also the costs may also arise. To address the idea of cost increasing, having a Calendar Variance is an imperative systematic instrument for project management (Lester, 2007). This apparatus gives the project management team the data expected to decide whether you are in front of calendar or behind the timetable regarding finances (Bee & Bee, 2011).
Early EVM understanding demonstrated that the areas of planning and control are fundamentally affected by its utilization; and likewise, utilizing the strategy enhances both degree definition and in addition the investigation of general task execution. However, upon further scrutiny, it became clear that the standards of EVM are sure indicators of venture achievement. This project intends to employ this as a way of understanding or determing the progress of the project at various levels. Notoriety of EVM has developed as of late past government contracting, in which area its significance keeps on rising (e.g., late new DFARS rules), to some extent in light of the fact that EVM can likewise surface in and help substantiate contract deliberations (Bee & Bee, 2011).
Question 6
The Project Closure Phase is the fourth and last stage in any project’s life cycle. During this period, the project management team will formally close the project and then compile a report that will elaborate a number of things that have been achieved throughout the entire project. Project closure includes a number of things that the project management team must provide to the firm that gave them the contract. Pre and post implementation documentations must be provide and the manner in which the contracted firm did its assessment and eventually executed their plan must also be provided at the end of the project. After the task has been shut, a Post Implementation Review is completed to decide the project’s prosperity and recognize the lessons learned as well as the challenges that the project presented till its completion(Heagney, 2011). We will also ensure that the 10 stages below are met at the end of the project:
Develop Closing Procedures to enable us to get a conclusion effortlessly.
Complete Contract terminations
Verify item scope necessities – most fundamental advance before the client closed down.
Gain Formal Acceptance from the key partners.
Submit the last Performance report
Conduct post-undertaking or stage end survey.
Index and Archive all significant venture reports in the Project Management Information System (PMIS) to be utilized as verifiable information for future pursuit and references.
Document Lessons Learned on this undertaking.
Hand over finished item to the client or partner.
Release assets back to Functional Managers if there should be an occurrence of Matrix association.
References
Bee, R., & Bee, F. 2011). Project management: The people challenge . London: Institute of Personnel and Development.
Chin, G. (2014). Agile project management: How to succeed in the face of changing project requirements . New York: AMACOM.
Heagney, J. (2011). Fundamentals of Project Management . New York: AMACOM.
Lester, A. (2007). Project management, planning, and control: Managing engineering, construction, and manufacturing projects to PMI, APM and BSI standards . Amsterdam [u.a.: Butterworth-Heinemann/Elsevier.
