MSBP
MSBP
Explain the stages of the project lifecycle (PLC) and their importance
to the success of a project.
Steps for the project initiation phase may include the following:
4. Closure stage: analyze results, summarize key learnings and plan next
steps
Stages Application
Project An established company has identified an opportunity in the
initiation market to develop a software tool that will be useful for
tracking staff time. In the project initiation phase, the possible
market is estimated as large. The costs of undertaking the
project are estimated, as is the time to deliver it. The project
gets the go-ahead. A specialist project manager is sourced to
lead and oversee the work.
Project The project manager produces a project plan. On getting into
planning the detailed planning, he realizes that for one part, specialist
help will be needed to deliver the software project. He flags
this up to the business owner. This raises the project costs by
£2K but the business owner decides the project can still go
ahead. The internal staff is briefed on their roles.
Project The project gets started. The project manager oversees the
execution activities on a daily basis, making sure everyone stays on
track. One person breaks her arm and goes off sick. Working
with the development team manager, the project manager is
able to negotiate that another person can step in to take their
place.
Project As the work is progressing, the business owner suddenly
monitoring thinks it would be nice to add another feature into the
and control software project development. Using the project change
management process, the project manager highlights to the
business owner that this will raise the costs of the project by
£50K and lead to a three-month delay in project delivery. The
business owner decides not to make the change and the
project continues as planned.
Project During the closure phase, the evaluation of the project
closure identifies that the requirements could and should have been
better defined during the project initiation. This would have
helped avoid the identification of a further feature that was
required late into the process which could not be
accommodated. The team agrees to a stricter project
requirement sign-off stage for future projects.
II. PMP
Project management plan (PMP) is a formal plan that describes how the project
will be made and how the project is monitored and controlled (Phillips, Joseph,
2004). The aim of this plan is to achieve all of the project goals with limitations
of course. The first advantage of project management is it improves
productivity, it increases customer satisfaction, it also helps to increase
competitive advantage. Another advantage is it sets the scope, proper
scheduling, and budget accurately. The main fundamentals of project
management are: scope, time, cost, quality, risk, communication, resources,
others,..
Project Aims Project Objectives
Enhancing business Understanding the characteristics of the
workforce workforce of small businesses.
Reporting how affected employees are
during the pandemic
Solution
Building strategic Develop a policy to retain talented
resilience for employees and train employees in
tomorrow. skills
Proposing employee benefits and
rewards
1. Scope
The scope project is the work required to complete the project successfully
(Bigelow B. , 2011). Management needs to identify the scope of the project to
maximize the benefits of the management project outcome. Inherent quality
maintained in the project is the success measure of the scope.
The work breakdown structure (WBS) is a hierarchical outline of all the
deliverables involved in completing a project (Law J.,2016).
2. Time/schedule
A gantt chart is a type of bar chart, developed by Henry Gantt, that illustrates a
project schedule (Morris, 1997).
3. Cost/Budget
The project budget is a tool used by project managers to estimate the total cost
of a project ( EM Bennatan, 1996).
4. Resources
Project resources are components that are necessary for successful project
implementation (V Dermol, A Rakowska, 2014) . They include people,
equipment, money, time, knowledge – basically, anything that company may
require from the project planning to the project delivery phases.
No Scope of work Resources Description of
used sources / strengths
5. Risk
The project risk may be defined as the chance of certain occurrences adversely
affecting project objectives, the degree of exposure to negative events, and their
probable consequences (Baccarini D. ,2001).
Risk management is the process of minimizing any potential problems that may
negatively impact a project's timetable (J Heagney, 2016).
No. Type of Description How it can Impact How to
risk of risk happen potential ( control
priority)
1. Financial Budget cuts An investor High - Negotiating
risk withdraws and
capital from persuading
the project investors to
withdraw
capital.
- Call for
capital from
other
investors.
6. Quality
A project quality plan is a plan that outlines the required tools, tasks, and
processes the project team must use and execute to achieve quality expectations
( Lyles W. and Stevens M. ,2014).
Quality management is a system to make sure that a product or service meets
standards of excellence, and that the process by which the product or service is
created is efficient and effective as well ( Rose, Kenneth H. ,July 2005).
7. Communication
Communication planning defines the types of information you will deliver, who
will receive it, the format for communicating it, and the timing of its release and
distribution (Ferguson S. D. ,1999).
Communication management is a collection of processes that help make sure
the right messages are sent, received, and understood by the right people (Zulch,
B. G. ,2014).
Rose, Kenneth H. (July 2005). Project Quality Management: Why, What and How. Fort
Lauderdale, Florida: J. Ross Publishing. p. 41. ISBN 978-1-932159-48-6.
Ferguson, S. D. (1999). Communication planning: An integrated approach (Vol. 1). Sage.
Zulch, B. G. (2014). Communication: The foundation of project management. Procedia
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Maingi, S. W., & Wachira, H. M. (2022). Digital Skills and Tourism Workforce Recovery in the
Post-COVID-19 Pandemic Era: Case of Small and Medium-Sized Tourism Enterprises
(SMTEs) in Nairobi, Kenya. In Tourism Through Troubled Times (pp. 21-38). Emerald
Publishing Limited.
Zhu, X., Li, Y., & Shang, H. (2022). The Impact of Online Sales on Recovery from COVID-19.
Engineering Economics, 33(4), 444-457.
Ngoc Su, D., Luc Tra, D., Thi Huynh, H. M., Nguyen, H. H. T., & O’Mahony, B. (2021).
Enhancing resilience in the Covid-19 crisis: lessons from human resource management
practices in Vietnam. Current Issues in Tourism, 24(22), 3189-3205.