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: Student Name: 169154426/1 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 Short answer questions Introduction Main body Conclusion 10 Task 2: 11 I Introduction 12 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 Project Implementation 26 Project Closure 30 CONCLUSION: 31 References 32 APPENDIX: 33 Task Short answer questions Introduction The first part of this paper aims to show the short answer of these questions below These answers will help to have better understanding about how a project works which include Types of projects; Scope management; what tool will be used to show the sub-division of the scope of work; the difference would it make if plot out a full project Gantt chart and identify the critical path; How to determine if the project in task 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 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 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 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 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 basic questions about the process of establishing project Based on that, the type of project in case study of Task 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 In JBK Bloggins project, the design and the construction of the manufacturing, the performance of employees trained from Asia, the technology installed in time and within costs are considered quality of the project Project manager can apply approach Total Quality Management or Continuous Improvement to ensure the project quality The TQM approach will help manager to access to all the quality management features Continuous Improvement will help manager determine the ongoing enhancement of process through incremental and breakthrough improvements It means Project manager will track, review and adjust the progress and performance of JBK project, determine any part changes to the plan are needed and make corresponding changes It is the process of monitoring specific project outcomes to decide if they comply with relevant quality standards as well as ways to remove causes of unsatisfactory outcomes Project quality policy can be formalized through accreditation to ISO 9000 quality management 3.3.Monitoring and Control: Quality control refers to a process through which a company seeks to guarantee that product quality is maintained or improved; manufacturing slips are decreased or eliminated (Eden, 1998) Weekly, monthly or quarterly, project manager needs to inspect employees’ work to make sure objectives are met Qualitative and quantitative are needed so that project manager can have appropriate evaluation, determine which tasks should be monitored and controlled stricter Quality control will start with test the technology by trained employees from Asia then Project manager will observe and determine if the technology have complied given standards or not The purpose of this test is to decide any needs for remedial actions Because good quality control will help the project to meet customer demands Project Closure Project closure, as known as formal steps taken at the conclusion of project, have the aim to be accomplished as agreed of the final product, close project records and allocate again personnel as well as other resources (Richman, 2002) At the beginning of the project, objectives are delivered to project stakeholders so everybody can know what they are involved in and what they should to contribute to the project After the project is nearly done, new employees will work in new manufacture and use new technology Project now can be handed over JBK Bloggins Project Manager has to ensure that all payments are done and finances for JBK Bloggins are reconciled Also is the completion of documentation and final reports Any remaining budget, materials or other resources are dispersed appropriately It is also time that manager recognize team member effort and celebrate for the success Technically, evaluations on employee, vendor, and customer are completed at this time as well After that, the manufacturer can run with production supplying new customer at March, 2018 CONCLUSION: Applying Project life cycle theory, project of JBK Bloggins has been divided into four clearly phases includes initiation, plan, implementation and closure Each of the phases has been conducted by Project Manager too ensure the every member will have the clearest guideline and ensure the successful of the project There are some techniques used to support the project managers like Gantt chart, Work Breakdown Structure (WBS) Throughout the five phases, the role of project manager is crucial due to a must having overview of the project progress and resolvation of arising issues to prevent the delay or failure of some stages in project This project will complete in 395 days, within budget is 11,159,500(£) and on time (in March) References Burke, R., 2003 Project Management Planning and Control Technique Fourth ed s.l.:John Wiley & Sons Inc Diego, J & Sanchez, F., 2013 A Guide to the Project management body of knowledge In: s.l.:Project Management Institute, Inc Durr, C., 1999 The Project Management Tool Kit s.l.:s.n Eden, C a A F., 1998 Making Strategy: The Journey of Strategic Management London: Sage Publications Elearn, 2007 Project Management s.l.:s.n Richman, L., 2002 Project Management Step-by-step s.l.:AMACOM APPENDIX: A SMART Objectives • Specific: The JKB Bloggins project is to introduce new technology and machinery into a new manufacturing site The objectives are determined clearly what will be done • Measurable: The project have the budget is £12 million pounds which is measurable for the company to determined • Agreed: All stakeholders such as project team, contractors, Construction Company; clients have agreed with this project objectives • Realistic: the goal of the project is to make sure the new technology and machinery within a new manufacturing site is achievable • Time-bound: the time for the project has to be done for March 2018 with production supplying new customer orders at this point in time B Stakeholder analysis • Project Manager and Project team: play an important role in the project and is in charge for the project successful, act as a key player on the project, which will manage closely to it Manger’s duty is to make sure project is complied within time and budget and its objectives while operating relationships with other stakeholders Manger will assign tasks for project team member to organize and implement works to carry out the project • Sponsor: This is JBK Bloggins because they pay for the expenditure of the project They get interest when the project is finished and normally give consideration whether the project exceed costs and time bound which is suitable to be placed in the Keep satisfied in Stakeholder analysis • Suppliers: External stakeholder who will provide materials and equipment with a great experience of their goods Keep informed them during the project so that they will know what to supply ensure the process run smoothly They have a high interest in the project as they are suppliers for materials but low power because there are many alternative suppliers • Design and Constructions Company: Though have little power on the project but these stakeholders still have interests from it They are responsible for designing and constructing project Therefore, they are placed in the Keep Informed site as the Project team needs to provide these stakeholders with needed information to carry out the project • Customer: Although customer is the reason for the main results of the project which is known as the final deliverable, customer still have a little power on the project They can express their needs and requirements for the final deliverable but it still depends on many other conditions Customer needs to keep informed to know whether the project is finish on time, budget and affect to their interests or not C Management skills It is worth mentioning that manager also need to have people skills This is important skills since the company make contract with other contractors and suppliers so they need to communicate in high frequency As a big project, manager has to manage change or conflict as well as encourage others (Richman, 2002) As a result, everybody who involved in the project will know what to do, what is their responsibility and avoid conflict and communicate easier between each department Having Knowledge of the organization is also a kind of skill that require manager to attain Because during the project, it is the job of project manager to negotiate with many people within the company By understanding their requirements, manager can determine the problems or challenges need to be solved The greater the skills of technical related to the project that manager have, the higher the effectiveness of manager in controlling the project As all the aspects of the project are integrated, manager with technical skills is necessary to determine the potential problems All the phases of the project work has to properly coordinate With such a complex like JBK Bloggins project, it is essential for manager to have Integration skills E.Project Cost Activities Responsibility Prepare Schedule Project team Plan approved Sponsor Recruit Project team Cost estimate (£) 4000 2000 200,000 Training Project team Architect appointed Project team Designed approved Project team Material Purchased Sponsor Machined 15,000 1,000,000 Sponsor Contract agreement Project team 10 Construction Contractor 11 Transfer Technology Contractor 12 Install technology Contractor 13 Install equipment Contractor 14 Mock Test Project team 15 Test Project team 10,000 1,800,000 1,200,000 900,000 700,000 200,000 200,000 10145000 Total cost Contingencies 14,000 1,900,000 purchased from Asia 2,000,000 10% of total cost 1014500 11,159,500 Total cost estimate Table: Cost estimation G Risk Assessment and Management No Risk Description Probabili Impact Risk ty (I:1-3) Priority (P: 1-3) Respond Ranking (PxI) Cost risk which is 3 Require report daily about market resulted from poor price or use the cost contingency cost estimation leads to purchase to higher costs in material, technology, construction, labor and so forth Schedule risk: Make penalty clauses with fixed materials, machines term with contractor Then ask is not delivered on contractor for the reasons and time, delay in cooperate to solve the solution finalizing due to together If they not cooperate designers; Machines then send him warning letter or breakdown or put in blacklist and switch to technology cannot another contractor work as planned Thereby take the project longer than expected Performance risk: 3 Hold more meetings with that Conflicts between employees to build up team spirit, team members encourage them to stay Pass the which leads to bad conflict to a mediator who has communication, been trained and has been trusted unproductivity work by the team, have the influence to and extra rework, remain neutral and perceive personnel with policy and ethics Or make Team critical skills needed Counseling: invite the necessary for the project individuals, develop a mutual plan cannot be found describe what each members Contractors use low should to solve that conflict quality technology Otherwise, manager needs to that make the output make contract with employees to is not qualified ensure they are not allowed to leave during the project unexpectedly Discuss in details for the final outcomes with contractor, if the products are not qualified then not have to pay for it Governance risk Project team needs to send refers to the ethics of auditors to audit account board and frequently When detect the management person who involved in the performance like collusion, project manager has to collusion with inform to whole board external, teeming management and invite lawyer and lading that affect because this will affect adversely to project funds to the funds and the project’s process Operational risk Pay about 5-10% of the contract consists of risks from overtime, not pay all in one implemented poorly time, and ask the contractor for and problem during Building permit because it will process of project show the local tax assessor about like procurement, the JBK Bloggins construction production and project while eliminate unlicensed distribution; contract contractors and bring out with scam protection of the project Sue the contractor, contractor for being ghosted employees not abide under work’s Give employees motivation to regulation follow the rules By understanding how abiding the rules will benefit them, they can comply easier When employees not follow the rules and policies given out during project, it’s the duty of higher management to give verbal warning or written reprimand, suspension or discharge depends on the level of the attitude Market risks like the 3 increase cost of Make the fixed term agreements with contractors foreign exchange rate, interest rate Legal risks occur 2 Project team can take steps like from regulatory and applying risk transfer agreements, legal requirements assure compliance, keep accurate which are contract records and installing legal risks and suing management software that can against the inform dispute risks company Risks related to 3 Implement a program that consists external hazards like of preparation, prevention of those storm, flood, fire, hazards and earthquakes; .. .Managing Projects SIM335 Prepared by: Mai Phuong Le Student ID: 169154426/1 Submission Date: January... answers will help to have better understanding about how a project works which include Types of projects; Scope management; what tool will be used to show the sub-division of the scope of work;... 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