1.

Key characteristics of a project:

A project can be defined as a definite task that leads to a desirable result under certain
predefined requirements.

Objectives: Every project is commenced with some objectives or goals that are fulfilled within its
lifetime.
Life span: No project can be for an indefinite time. Every project must have a definite period beyond
that it can not continue.
Funds: For embodying any project, sufficient funds are obviously required. It even can not be
imagined a project without funds.
Risk and uncertainty: A project is generally based on the uncertainty that is forecasted today but
not sure what can happen tomorrow. (Marcelino, 2021)

Importance of integration management in project management setting:

Integration management involves coordinating each component of a project.
The necessity of integration management in a project management setting is indispensable.
Such as,
It coordinates and synchronizes through a project lifecycle.
It helps the project run properly and smoothly
It appraises and scrutinizes the project’s advancement.
It helps manage and control the performances. (Demirkesen & Ozorhon,2017)

1. Scope statement for a project:

A scope statement for a project is a written document that comprises all the necessary
information that makes the project deliverable. It facilitates the task of the project team and
helps them remain focused.
It also guides the team leader of a project to go ahead effectively and efficiently. The
productivity and efficiency of a project rely on the scope management of a project.
(Abdullahi,2020).

The role of the work breakdown structure in the project scope statement:

The work breakdown structure is the device that aggregates scope, costs, and schedule
baselines ascertaining that project decisions are in alignment.
It plays an important role in project scope management by helping estimate project scope,
show control points and milestones, show and assign accountability and responsibility and
providesa a visual of entire scope.

2. Approaches exist to generate a budget for a specific budget.

Underlying four approaches to generate a budget for a specific budget. Such as,
1. The bottom-up estimation:
The top-bottom estimation approach is a widely used method for creating project budgets. It
sums up all of the costs that are allocated to various activities in a project. It is effective when
every tiny aspect of the project is in the brain.
2. Top down estimation:
This approach is totally opposite to the first approach. It takes the aggregate budget and breaks
it ut and allocates it to numerous tasks, activities. The drawback of this approach is not that
flexible. (Liang, 2017)
3. Analogous estimation:
This approach is appropriate for a skilled manager who has an accurate conception of what the
nature and scope of a project is and can develop a budget based on past experiences. The
drawback of this budget is that it only can be developed based on past incidents otherwise
impossible.
4. Perametric estimation:
It is a better version of analogous estimation. This approach focuses on collecting data points
from identical projects and then applying them to the project at hand. ( Sundar, 2021)

3. Four types of project risks:

A project risk means uncertainty tha something may take place or not. The main
difference between this risk and our usual ris is that it may have both positive and
negative effect.

Scope risk:
This risk comprises changes in scope caused by scope creep, integration issues, hardware and
software defects.
Scheduling risk:
Scheduling risk includes unexpected delays at the external vendor, natural factors, wrong
estimation in the acquisition of parts. (Dandage, 2018)
Resource risk:
This risk involves outsourcing and personnel-oriented matters. Another source of this risk is a
shortage of availability of funds.
Technical risk:
This risk consists of delays that arise out of software and hardware defects or the failure of a
main service or platform.
Responses to overcome scheduling risk :
Work breakdown structure(WBS) and RACI matrix can be the best weapon to overcome
scheduling risk.
Responses to overcome scope risk :
Creating a document that describes what will be delivered and when will be delivered , can be a
tool for mitigating scope risk.

4. Project quality method:

A project quality is the process of regularly assessing quality of all activities and taking
measure for corrective actions untill planned goal is achieved.

Project evaluation as quality method.

Project evaluation involves systemic analysis to collect data and uncover the
effectiveness and efficiency of management. It has been selected as a quality method
for the reason that it considers every aspect of a project to assess whether it is
proceeding according to planned or not and if not, actions are taken to fix it as per
plan.A project evalution can be both qualitative and quantitative. (Samset &
Christensen, 2017)

Reference:

Thite, M., (1999). Identifying key characteristics of technical project

leadership. Leadership & Organization Development Journal.

Dandage, R.V., Mantha, S.S., Rane, S.B. and Bhoola, V., (2018). Analysis of
169interactions among barriers in project risk management. Journal of Industrial
Engineering International, 14(1), pp.153
Sundara, W.C., Haryati, R.A., Rachmat, S.A., Haberfellner Putra, A.S. and Aisyah, N.,
( 2021). EFFECT OF HUMAN RESOURCES AND BUDGET IN PROJECT RISK
MANAGEMENT FOR ENTERPRISE RESOURCE PLANNING SYSTEMS. Journal of
Innovation Research and Knowledge, 1(2), pp.125-130.

Dandage, R.V., Mantha, S.S., Rane, S.B. and Bhoola, V., (2018). Analysis of
169interactions among barriers in project risk management. Journal of Industrial
Engineering International, 14(1), pp.153-.175.

De Araújo Lima, P.F., Marcelino-Sadaba, S. and Verbano, C., (2021). Successful

implementation of project risk management in small and medium enterprises: a cross-
case analysis. International Journal of Managing Projects in Business