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Project Management a Strategic Planning Approach - Case Study Example

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The following case study "Project Management a Strategic Planning Approach" is focused on the company Project Management Ltd. that has been approached by Big Ideas Ltd. for organising a one day training event for Level 3 Undergraduate students on Project Management…
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Download file to see previous pages However, in the case of Big Idea Ltd., preparing a Feasibility study or Business case is most appropriate which is the latest tool used by PM practitioners (Field & Keller, 2007). The business case is described by Gardiner (2005) as a tool that is standard in Project Management with the aim of providing analysis of three crucial features of projects i.e. managerial, technical and financial so that a solution can be derived in accordance with the customer’s set of requirements. The business case has been used by Project Management practitioners as it eases the management team in making a sound decision in future about a project related to its objectives and scope (Ali, Anbari, & Money, 2008). Since Project Initiation Phase is of utmost importance in every project, it is vital for the PM practitioner to ensure that this phase is properly worked out. According to Kerzner (2009) and Turner (2009), Project Initiation phase must have to two outputs; one is there should be an appointed Project Manager and the second output is Project Initiation Document known as PID. While the process of initial project development is progressing and project objectives are being defined, PM practitioners identify two sets of factors that will be used for measurement of the project’s success (Haas, 2006). According to PMI (2008), the first set of factors is made from the success criteria which comprise of dependents variable that will assess the successful project’s outcome i.e. time, quality and cost. While the second set of factors set comprise of success factors that consist of independent variables that have an influence on success criteria’s successful achievement i.e. project assumptions and constraints. Figure 1: Project Life Cycle Source: Lock (2003) The project objective for Big Idea Ltd can be defined as To design and prepare a one day UG Project Management Training Programme for Level 3 Undergraduate students to make them understand the application of Microsoft Project and Critical Path Analysis for delivery on 1st September 2012 with a maximum budget of ?40,000. When the project initiation phase ends and the project is approved by the concerned authorities, the next phase of the project life is the project development phase. Olsson and Magnussen (2007) and Shenhar (2008), the second phase of Project Life Cycle is the most crucial one as at this stage the project is either made or broken. At this stage, the project is defined as the formation of the project team takes place along with the setting of various plans and activities for implementation, monitoring and control are completed. Project Development phase helps in setting the project boundaries and identification of details and requirements of the projects (Kwak, Anbari, 2008). Turner (2009) defined the second phase as the identification of activities that will allow operations of the conceptual phase’s activities. At the end of this phase, there are two outcomes or deliverables that are tangible i.e. The Project Team and Project Management Documentation (Patanakul, Iewwongcharoen, & Milosevic, 2010). ...Download file to see next pagesRead More
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