FINAL EXAMINATION (PROJECT MANAGEMENT FUNDAMENTALS)

NAME: ZAIN JAWAID ID:10238

CASE STUDY # 01

Q1) Report your assessment of the current project status.

ANS:
As we talk about the current situation of the project so it cannot be considered completed, and
the methods of evaluating milestones and accomplishment of corresponding tasks are hindered
due to the absence of reliable reports on original project scope, scope changes, schedule and
budget. So, even the initial stage of project planning is not performed properly. In this situation,
we may use EVA methodology to claim that project planned value was exceeded, and its budget
cost of work performed is significantly deviated. In this project, cost performance index should
be calculated as ratio between earned value and actual cost.
Q2) Compare your assessment with sound project management practices.
ANS:
In order to get the efficiently monitor the execution of the project, it is necessary to meet a
number of requirements that are given below:
(1) At first reporting format should be the same for all members of the project team. The data
reports should be comparable with the plan. Obviously, if the plan takes certain parameters into
account, and reporting is done basing on the other ones, tracking the achievement of control
events and understanding whether the project is carried out properly is almost impossible for the
team.
(2) It is necessary to define the criteria by which the project will be assessed. Such criteria should
include the major functional areas of project management: time, cost, quality, organization of
work and subject area.
(3) Now It is also necessary to establish methods to be used during controlling, determine the
degree of detail. For example, the monitoring of the actual implementation of the individual
works may include 0-100 method, detailed control method, method of milestones, and earned
value method, etc.
So in any case of projects, the project monitoring methods used should be simple and convenient
for all to see. It is necessary to keep the balance between the amount of time spent by members
of the project team to carry out monitoring, reporting and the amount and frequency of data
presentation needed for effective control on the project.
Q3) Recommend steps to bring the project to a close.
ANS:
As we are going to the ending of a project or the project approaches its completion, the
enthusiasm of the project team falls, the team members start thinking about new projects, which
naturally reduces the concentration on the objectives of the project. All of this will leads to the
fact that in many very successfully implemented projects significant mistakes takes place at a
stage of closing or ending and often calling into question the success of the project as a whole for
all the team members of the project.
So during the closing of the project it is necessary to check that all of the work is done properly
like for example, it is necessary to ensure that all contracts are fulfilled and closed, all acts are
signed, and calculations are made, all works on the project are completed and accepted with the
quality of their performance checked, all the tasks are performed efficiently, and the product
meets the customer’s expectations that what they have demanded, there are some general steps to
close the project which are given below:
(1) Completion of the works on creating the project product
(2) Delivery of the project results
(3) Disbandment of the project team
(4) Analysis of the experience of the project, and documenting the results.
Q4: Recommend improvements to the XY Department's future project management practices.
ANS:
There are some recommend improvement for the XY Department for future project management
practices which are written below:
The XY Department should need to develop a consistent risk management plan. The
effectiveness of developing responses to risks will directly determine whether the effects of
exposure to risk on the future projects will be positive or negative. Then the other improvement
would be strategy planning should take into account the types of risks, the profitability of
resources and time parameters. Issues discussed during meetings should be adequate to the tasks
at each stage of the project and agreed upon by all members of the project management team.
Moreover, when deciding who should take charge of a business project, it is necessary to
consider the risks of taking this or that decision. It is obvious that the task of the head of the
financial department of XY Department is primarily in the direct management of the
development and operation of the unit at the proper level, while project management is a
demanding task and may require not only special skills, but also a considerable time for the
operational project management.
Q5) If a very similar project had to be done again, what attributes and/or skill sets would you
recommend in selecting a project manager?
ANS:
The project manager is a key figure in any project. He interacts with both the customer and the
development team for the project. If the project manager has only a general idea about the work
of one’s subordinates, they will eventually get either a supervisor who will always rely only on
their honesty or a boarder, whom the whole team will fool, and the project will continue to fall
behind schedule and they might be unsuccessful in delivering the project on time. So, in
selecting a project manager, the company should make sure a candidate possesses the following
attributes and skills:
(1) Being able to assess and apply the strengths of the team members, give them the work that
most suits them;
(2) Motivating and inspiring, exuding confidence;
(3) Setting high standards of planning and schedule following;
(4) Having experience of successful completion of projects and able to learn from past mistakes;
(5) Excellent communication skills;
(6) Creative thinking
We have to keep in mind that no project is carried out in exactly the same way as the previous
ones, so the project manager must be able to think through all the branches of the project plan to
ensure the adaptation of the tasks and the methods.
Q6) What other advice might you give to the CEO?
ANS:
The other advices would be that the whole range of possible solutions, reactions to deviations
from the progress of the project can be organized into five groups: Revision of the project cost
(which has already been done by the new CEO of XY Department), Changing the project timing,
Changing the project scope, developing alternative solutions, or Termination of the initial
project, which is strongly recommended in this case. The other thing is that after the significant
changes in company’s management and the loss of reliable monitoring data, it would be
appropriate not simply to make necessary adjustments in the existing project, but rather start the
project cycle new. Planning, execution of works, control, analysis and introducing corrections
are to be performed throughout the entire phase of project implementation.
CASE STUDY # 02