Sample On Project Management By Instant Essay Writing

Sample Report On

PROJECT MANAGEMENT

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Table of Contents Introduction ......................................................................................................................................4 LO1 analysis of the business objectives for the identification of the feasibility of the project .......4 1.1 Identification of projects required from an appraisal of established business objectives ......4 1.2 Production of the sub-division of the project and estimation of time and resources required for the project.................................................................................................................5 ......................................................................................................................................................7 Illustration 1: Network diagram ...................................................................................................7 1.3 Suitable methodology for the project .....................................................................................7 1.4 Assessment of the feasibility of the project ...........................................................................8 Systems and planning for the initiating, managing and the controlling the project ......................10 2.1 Devising structure for the administration and the management of the project ....................10 2.2 Roles and responsibilities of the project manager ............................................................... 11 2.3 Detailed plan for the project ................................................................................................13 Organization and management of the project ................................................................................15 3.1 Assessing the alternative project team structures.................................................................15 3.2 Interpersonal skills required for effective project management...........................................17 3.3 Quality management processes ............................................................................................18 3.4 Procedures for managing change proposals .........................................................................19 LO 4 Monitoring and controlling the progress of THE project .....................................................20 4.1 Identification of risks and issues which can become barrier for the project ........................20 Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com Get best Accounting Essay Writing Service by the professional writers of Instant Essay Writing at an affordable price.

4.2 Monitoring and appraising the status of a project ................................................................21 4.3 Control systems for the detection and management of the issues arising in the course of project ........................................................................................................................................21 LO 5 Evaluation and the closeout of project .................................................................................22 5.1 Identification of the issues and risks likely to be encountered in the final stages of the project ........................................................................................................................................22 5.2 Assessment of the essential project tasks to be completed in the final stages of the project ........................................................................................................................................23 Conclusion ....................................................................................................................................24 REFERENCES ..............................................................................................................................25

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INTRODUCTION Project refers to a group activity designed to achieve the desired output by the organization. Project management refers to the application of the knowledge, skills and techniques for the execution of the project with efficacy and effectively. The project report focuses on the feasible and convenient execution of the project (Bryde, 2003). It will include the implications of the project and a suitable methodology for it along with the structure of the human resources for the organization. Procedure of the monitoring and controlling will be included in the project according to the detection of the management aspects in the business.

Finally, risk management will be added along with the description of the necessary steps for the completion of the project.

LO1 ANALYSIS OF THE BUSINESS OBJECTIVES FOR THE IDENTIFICATION OF THE FEASIBILITY OF THE PROJECT 1.1 Identification of projects required from an appraisal of established business objectives A company is planning to relocate to the area around Banbury, Oxfordshire. The main objective of this relocation is to reduce cost and to increase the profitability of the business by 10%. Therefore, the company is required to analyze its operational procedure Regular examination of the operational processes is essential for the success of the business and it should be undertaken based on suitable techniques of project management, taking into consideration the cost benefit and the trend of the organization. The selected methodology should enhance the quality of the project and efficiently drive it towards an output that is compliant with the requirements (Eve, 2007). It will make the process of the monitoring and controlling easier and help the project manager to complete the project in a shorter period with economical resource management. In the present project report, this business relocation is analyzed to attain the goal of expansion and the growth of the business. Apart from this, it is very

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important to review the business operation and procedure so that suitable project can be identity in order to meet requirement of business. At this juncture, management can conduct cost benefit analysis which leads to provide detail information regarding project to be done. Not only this, time line, resources, budgeting and accountability of project also need to be considered and accordingly project should be selected. In addition to this, team manager can also make arrangement for alternative project which in turn objectives set can be meet out in specified time span. Also, it facilitates to complete the project on right time.

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Kindly Mail us at: help@instantessaywriting.com 1.2 Production of the sub-division of the project and estimation of time and resources required for the project Project management has to pay attention to work distribution in order to complete the project efficiently. Distribution of tasks in the project management is crucial; if they are divided into proper stages and allocated to competent departments, efficiency will be facilitated. A

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timescale will be developed for the relocation based on the model of Work breakdown structure (Brewer, and Strahorn, 2012).

This structure will work as a guide for the business for completing the activities on time along with appropriate monitoring. Resources will be identified by project manager after listing of operating tasks. For the present project various sources will be required such as human, financial and technical (Hamilton, 2010). These resources will be allocated in different operating tasks in order to maximize the output. Apart from this, effective budgeting has been followed for relocation project. The budget has been prepared as followsBudget

Resources

for

resources (US ($) Human resources

250$

Land

350$

Material

260$

Total

860$

There are several kinds of resources like human, physical and financial required to complete the relocation project. At this juncture, project team also require training and proper allocation of resources among selected personnel in team. Furthermore, team members will be communicated about task to be done and accordingly accountability will be determined. In addition to this, all team members will report project manager. Further, communication center is also project manager by which smooth flow of communication can be maintained.

Table Error! No sequence specified.: Time scale for completion of project Activities

List of activities

Days

Predecessors

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A

Supervisor meeting for planning for relocation

1

B

Assessment of required resources

3

A

C

Assessment and Arrangement of financial sources

5

B

D

Implementation of planning

7

B, C

E

Collection of resources

3

D

F

Resource allocation in different activities

6

D, E

G

Controlling and monitoring

3

F

H

Variance analysis in implemented project

1

G

I

Review the project

2

H

J

Necessary modification for relocation

3

I

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Illustration Error! No sequence specified.: Gantt chart

Illustration Error! No sequence specified.: Network diagram In accordance with the critical path entire activities of project will be completed in 26 days. Critical path of the activity is 1-2-4-6-7-8-9-10. By implementation of this model, organization can accomplish their activities in timely manner.

1.3 Suitable methodology for the project Relocation of the business is a complex task because it is a highly standardized process and it will require huge financial resources. The following methodologies can be implemented in the business.

1. Waterfall project management - This is a traditional approach of handling activities of project management in a sequential manner (Callahan, and Brooks, 2004). This methodology is suitable for large scale software development projects.

2. Agile project management - This approach is usually chosen when the project is designed to adopt certain changes (Puus and Mets, 2010). Agile project management is suitable for smaller software projects and/or those with accelerated development schedules.

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3. Critical chain path - As opposed to the waterfall project management, this method focuses on schedules and tasks. The critical chain methodology allocates adequate resources to the processes that have been identified as crucial but there is still sufficient buffer to reassign resources as deemed necessary during the course of the project (Andersen, and et.al. 2006).

4. Prince2 - (Managing Successful Projects with Prince2 paperback 31 May 2005 by Great Britain: Office of Government Commerce. This methodology is endorsed by the British government. It is a process-oriented methodology, dividing projects into multiple stages, each with their own plans and processes to follow (see Figure 1).

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Kindly Mail us at: help@instantessaywriting.com For the relocation of the office to Banbury, Oxfordshire in London the suitable methodology could be PRINCE 2 technique. The selected technique is linked to the controlling and the management of the project and will offer the modified tools for its management. It is a process-based approach used for the project management (Harry, 2013). This approach assists in

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enhancement of the performance of new business system. It also helps in attaining aims and objectives of the business in an effective manner. By considering the various stage of this method, the project manager can evaluate various elements of the relocation project along with improvement in infrastructure with an appropriate manner. Furthermore, managers also apply critical path method to assess a certain schedule of activities for which management can develop various other strategies to support different aspects of project management that would provide efficient return to firm (Kousholt, 2007). In addition to this, selected methodology is front loaded by which all efforts are made to determine that project is viable and corporation should proceed the same. In this regard, prior preceding all information related to proper planning, associated risk, quality standard and requirement of customer are considered in order to carry out effective project plan. Thus, this methodology reduces risk to a great extent and increases the chances of success for company. Apart from this, PRICE 2 is a standardized technique where employees have common approach to work. With this fact it can be said that time taken to hire additional employees can be reduced to a great extent. Therefore, selected methodology is helpful in achieving organizational objectives and catering requirement of consumers in an effectual manner.

1.4 Assessment of the feasibility of the project For the relocation of the project it is mandatory to assess the feasibility of the project. The study of the feasibility is the analysis of the evaluation for the potential of the proposed project.

It is based on the extensive investigation and research. By the feasibility analysis management of the business will be in position to make better decisions.

For the assessment of the viability for the relocation it should be technically, operationally, financially and economically feasibility of the project. The project feasibility can be assessed by the risk identification and its management. It will include the process of the

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prioritization of the risk through the coordination in utilizing of the resources for the monitoring and controlling of the unexpected circumstances. 

Financial feasibility - Present project will be financially feasible as the funds will be generated from the available financial resources of the organization. In this aspect inflow and outflow of financial sources will be considered to determine that project will be able to provide profits or not.



Technological feasibility - The management will take the issues of current place of business in the consideration for reference that it should not occur in the relocated business (Kerzner, 2009). Information technologies systems will be adopted for the business for improved and expand the earning capacity of the business. In this aspect current techniques will be considered to ensure that project can be accomplished by manager in an effective manner.



Risk management - Under this risk will be managed effectively because of selection of appropriate methodology as PRINCE 2. This enables project manager the assess the potential risk and remove the same before it affects progress of project. Furthermore, appropriate risk management plan will be made by Banbury to respond the same on right time. For example, in case of financial constraint bank loan as alternative source of finance is taken into account.



Resource feasibility- In this aspect organization will ensure that they have appropriate resources in order to complete operational activities. With this feasibility analysis organization will not involve project in which high resources are required. It is because, they are not able to arrange sufficient resources required for the completion of project.



Feasibility of project-the current project is feasible for corporation because of cost reduction and increasing profitability. However, appropriate sources of finance and other related sources are available which in turn organization can successfully relocate near Toll Free No: +1 213-929-5632 E-mail: help@instantessaywriting.com

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area of Banbury. Furthermore, company has competent workforce as well as necessary physical resources which makes it feasible to execute the new project.

SYSTEMS AND PLANNING FOR THE INITIATING, MANAGING AND THE CONTROLLING THE PROJECT 2.1 Devising structure for the administration and the management of the project Description of several stages included in project management is as follows- (see figure 2)

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Figure 2: Prince 2 approach

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

Beginning of the project – the initialed of the project will be planning for the relocation

of the office will be inquired and analyzed and the derivation of the solution will be utilized for the continuation of the project. Various approaches and methods will be applied for the analysis. 

Direction of the project – this step comprises of the procedure of the monitoring and the

controlling of the relocation of the premises for leading the project towards the appropriate direction. 

Implementation of the project – in this stage the planning will be implemented in the

project. Constructional changes and the process of transfer will begin in this step which will done under the monitoring of the project managers. 

Project control will consist of a regular assessment and evaluation of implemented

actions and their contribution to the overall improvement targets 

These improvement actions had been agreed and scheduled through the planning

procedure. 

Project closet- this will be the end step of the project where the relocation of the premises

will completed and test will be done for the comparison of the actual result with the desired ones.

The above diagram is showing traditional approach to complete the project. This is because all team members are allocated their responsibilities and task to be done by them. Under this, all workforce is responsible for given tasks and they need to communicate as per the requirement among team. Furthermore, critical change approach could also be adopted in case of need of immediate change. It assists management to bring modification in the present work environment and increase the chances of successful completion of project. Besides, PRICE 2 has already been adopted for the completion of project. It depicts that proper structure has been followed for the management and administration of project. Furthermore, above diagram depicts

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that structured process will be adopted in completing project by which company can easily carry out its business.

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Kindly Mail us at: help@instantessaywriting.com 2.2 Roles and responsibilities of the project manager The project manager plays a role similar to the captain of a ship in the completion of the project. For the purpose of the relocation project, managers should fulfill the following responsibilities

Management and coordination – Project manager is required to manage the team and coordinate activities in an effective manner. They should have a professional degree in project management along with experience of 2 years in this field. They should be able to synchronize project activities and reporting regularly on progress to senior managers and the client (Tsoukalas, 2014).

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

Budgets – Managers are required to prepare budgets and allocate resources to support the relocation project. With these budgets they will be able make optimum utilization of available resources in order to achieve their aims and objectives in an effective manner. For this aspect they are required to identify different cost categories such as fixed, variable, direct, and indirect and sunk. For these expenses they are recommended to generate funds from appropriate financial sources (Sabyasachi, 2015). For this purpose they should be able to use capital budgeting techniques. In order to manage different payment to different stakeholders they are required to prioritize the expenditures of the business.



Delegation of authority- Project management delegated authorities among team members. Here, detailed project plan is required to be prepared by the project managers which is comprises of the management of the risk which is likely to be occur in the project (Andersen, and et.al., 2006). The design and control of the project is managed through the project plan. The main role of the manager is resolving conflicts and aligning human resources according to project needs. In order to analysis risk, project managers are required to forecast future activities.

For this purpose, project managers are required to have interpretation skills. In order to manage risk in an effective manner they can use following model: (see figure: 3). Furthermore, following table is showing the roles and responsibilities of each team members. It facilitates to complete their respective task on right time hence the specified objectives can be achieved.

Team members

Roles and responsibilities

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Project manager

Supervision of all activities.

Top management

Decision making and allocation of resources

Administration department

Implementation of tasks described by top management

Technical person

Testing and system maintenance

2.3 Detailed plan for the project A project plan can be termed as an approved formal document (see figure 4), which provides direction regarding how to accomplish a particular project. Further it is set of activities which provide direction to achieve final goals and objectives. 

Value proposition –The main objective of business is to grow and expand in long rum.

Further it also aims at increasing profitability in future. In order to meet these objectives and aims economic and technological approaches will be applied on project research.



Sponsorship – The project will be sponsored by management and board of directors of the company.



Accountability and responsibilities – The accountability and responsibilities to team members will be assigned by the project manager. Each team member will be responsibility and answerable for his part of work. Further the complete project will be the responsibility of project manager.

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

Resources allocation – The manager has to take care that the resources should be allocated in the best and most optimum manner. This will help in getting out the best and most desired output.



Time and Milestone – The process of Time and Milestone is related to procurement and hiring of labor for project. It also includes activities of research and trend analysis of labor market (see figure 4).

The following table is showing that how project plan will be implemented in what time span. It is also showing that which activities will take place after one. Under this, at meeting is held in the presence of supervisors regarding the relocation project. Further, 3 days for assessment of required resources. After that viability of project will be checked with respect to financial resources. This activity will take approximate 5 days. Accordingly, all related activities of project are listed in the table along with time taken for all.

Table Error! No sequence specified.: Activity table Preceding Activities

List of activities

Days

activities

A

Supervisors’ meeting for planning the relocation

1

B

Assessment of required resources

3

A

Arrangement of financial sources and C

assessment of financial viability

5

B

D

Implementation of the plan

7

C

E

Collection of resources

3

C

F

Resource allocation in different activities

6

D,E

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G

Controlling and monitoring

3

F

H

Variance analysis of the implemented project

1

G

I

Review of the project

2

H

J

Necessary modifications

3

I

Figure 4: Gantt chart

ORGANIZATION AND MANAGEMENT OF THE PROJECT 3.1 Assessing the alternative project team structures Following team structures can be implemented by project manager for relocationFunctional team structure

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This structure is hierarchal in nature in which activities of sub departments is supervised by main departments. (see figure 5).

Figure 5: Hierarchal project structure

(Source: Larson and Larson, 2012) (Source: The Best Structure to Work Under for the Project Manager, 2014) Hybrid organizational structure It is also known as matrix structure. It is established by combining characteristics of functional and project based structure. In this kind of structure, activities are interrelated for better coordination and support. (See figure 6)

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Figure 6: Matrix organization structure

(Source: Larson and Larson, 2012) Project based organization structure In Project based organization structure, an individual project team is established which is comprises of experts from different fields. Further tasks are allotted to individual teams which are performed by experts (see Figure 7).

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Figure 7: Project based organization structure

(Source: Larson and Larson, 2012) The suitable structure for the completion of the project will be hierarchal (Haughey, 2013). (see figure 8) Through this structure the appropriate responsibilities and accountabilities to the subordinates and there will be proper reporting of the work to the senior managers. The structure for the relocation of the Banbury, Oxfordshire in London will be led by the board of directors and they will do the supervision of the project managers. Further the managers will lead the other subordinates of the business.

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Figure 8: Hierarchal structure for the relocation

All the structure is explained as follows which depicts that hierarchical structure proves to be effective for the relocation project. The reason behind selecting this structure is effective reporting procedure. Under this, supervisors can effectively assess work of those who are working under them. Accordingly, effective reporting system can also be followed. In addition to this, selected structure facilitates to implement the project successfully.

3.2 Interpersonal skills required for effective project management Project managers are required to be dedicated and responsible towards their work. They should delegate their work effectively to become a role model for the employees who can then improve their performance and follow the footsteps of the project manager. The person should be

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motivating and open minded so that the quality ideas of the subordinates can be adopted without any ego clashes.

Project managers must be able to coordinate the various activities of the project effectively without any contradiction among them (Project control, 2013). They should have good communication and interpretation skills. Managerial skills should also include problemsolving techniques in respect of issues among the subordinates and the ability to minimize or eliminate the effects of conflicts on the project activities.

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Kindly Mail us at: help@instantessaywriting.com For example, project team with several interpersonal skills like decision making, leadership, motivating others and network building makes it possible to complete the allotted task on right time. For instance, network building skills will enable all team members to work with integrity and will ensure better coordination among them (Tsoukalas, 2014). Apart from this, good communication skills in all team members will reduce the chances of misunderstand. This in turn gap between actual and expected results are reduced to some level. In addition to this, presence

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of intern personal skills proves to be effective in collaborative learning which leads to achieve specified objectives in give time slot with set standards. These all also contribute towards management of all project activities effectively and accordingly overall risk is minimized which may be occurred during completion of project (Haughey, 2013).

3.3 Quality management processes Quality management refers to the procedure of maintaining the selected methodology and techniques adopted for the completion of the project. It assures that the procedure does not have loopholes which might endanger the successful completion. The following process and techniques will be implemented in this process.  Communication- Communication is essential part of quality management process. (Puus, and Mets, 2010). Due to this aspect, there should be effective communication and coordination between the board of directors, project managers and other stakeholders so the project can be executed with convenience.  Regular monitoring- In order to prevent variances between actual and desired results it is essential for project manager to monitor activities in regular time interval. In this manner, project manager will able to resolve issues in operational activities.

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Illustration 1: Quality management  External and internal audit- For the management of financial resources the audit trails will be conducted. Through internal and external audit trails company will be able to prevent embezzlement of the cash and other resources. 

Meeting- For supervision of performance of subordinates’ regular meeting will be held. In this meeting project manager will discuss their future strategies to achieve aims and objectives in effective manner (Richardson, 2010).

On the other hand, formalized framework and stages are the effective meaning to follow the quality aspect of project. For example, total quality management can be adopted in order to complete the project as per the set standard. Further, regular monitoring meeting is also the effective method by which all team members can consult regarding quality aspect of project and solve the same if any. Apart from this, traceability is done at the team members end because they work on the basis of specified guidelines. Furthermore, above mentioned diagram is showing

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that corporation can easily ensure effective quality of products and services. It enables customers to buy products and services offered by the firm. In addition to this, employees need to be informed on right and they also must be communication related to policies and procedure (Lester, 2007). It proves to be effective in delivering good quality of services and creating competitive edge of the firm. Therefore, quality management process contribute towards increasing flow of production and meeting requirement to business in most effective manner. It also makes it possible for corporation to retain buyers by offering them good product with compliance of quality standards.

3.4 Procedures for managing change proposals In this step loopholes will be identified which will cause barriers in completion project.

Change process comprises activities such as scrutinizing, evaluating and analyzing of change before its final implementation. Initially related stakeholders (Client, employees and supervisors) will be informed regarding changes. For implementation of change the project manager will be responsible (Hayes, 2014). (see figure 9) Further the required changes will be made only after proper analysis of situation. In the present proposal the changes required will be communicated to broad of director for the final approval. Further, it will be communicated to employees along with its requirement to prevent resistance for change. These changes will be incorporated in operational processes and same will be implemented. Project manager will monitor the work of subordinates in order to assure that changes have effective placed. Following process will be followed project manager to make change in proposal-

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LO 4 MONITORING AND CONTROLLING THE PROGRESS OF THE PROJECT 4.1 Identification of risks and issues which can become barrier for the project Several kinds of risks and issues have been detected in the process of the relocation. Main risk in this process is of inaccuracy in the planning process. There are many errors in forecasting plan which has made the present circumstances more adverse. Other than this, it has been identified that the allocation of resources has not done in proper manner which is caused delay in completion of project. Following risks can arise that can crease barrier for the project

Inefficient forecasting- Major risk involved in the project is defective planning because it will affect entire activities of the project.



Economic and political change- Further there are some issues which are beyond the control of project managers. It includes some key challenges such as dynamic circumstances in the environment. For example there is a change in policy of contract which has caused many problems for managers.



Delays- There can be delay in some activities like technological decisions, resource availability can create hurdles for the completion of the project. Other than this, issues such has lack of resources are affecting the overall quality of the project.



Planing errors-Under this, issues may be faced because of planning issue which affect the completion of project. These issues can be faced because of wrong anticipation of time and allocation of resources. On the other, it is very important for project management to assess risk of external factors while planning for the project. In case of absence of such kind of consideration barriers may be faced.

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

Skills and resource deficits-This is the foremost issue which can affect overall relocation project. Here, resources deficit such as lack of financial or physical resources create constraint for the completion of project in given time span. Further, insufficient knowledge among workforce is also barriers as they find difficult when executing the project at the end step.

4.2 Monitoring and appraising the status of a project The monitoring of the entire process will be done by the considering following document of project plan: 

A regular supervision on the activities will be done in order to ensure that whether they are carrying out in desired manner. Here, criteria can be set in accordance with daily work by preparing documents. These document will contribute at the time of inspection.



There will be regular meetings so that the problems during project can be identified and corrective measures can be taken to resolve them. This will help in completing the project on time and in effective manner. Furthermore, during meeting all team members will be asked to communicate regarding the project performance and issues faced by them (Lester, 2007). With this, project manager can have ideas regarding the need of training or risk that can be occurred during project. Thus, effective plan can be implemented to reduce the risk.



By giving responsibility to team members- all the team members will be provided by responsibility and roles for the completion of activities. In this manner accountability of individuals will be assured. At this juncture, monitoring process become quite easy because project manager can ask responsible people to give review of project at the end of each working day.

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

Appraisals and rewards- The system of appraisals and reward will be based on the performance of team members. Further it will be provided every month and it will be communicated in team meetings. The motivation behind this process is the reduce the chances of risk and complete the project as per the set standard. Thus, for providing reward management need to keep record of all workforce and their performance which in turn indirectly serve as the effective method of monitoring.

4.3 Control systems for the detection and management of the issues arising in the course of project Effective control is essential to resolve issues arises in the course of project. In present case scenario project effective control system can be developed by considering following aspects in order to detect and manage issues1. Manager should implement constructive culture to provide better environment to workers. Constructive conflict spurs open communication in the workplace. Further high-quality ideas will be provided by stakeholders for better decisions. Employees will be able to develop better relationships with each other and their project manager. As a consequence, collaboration begins to occur more often and overall productivity increases.

2. Internal and external check can be conducted in timely manner. With this strategy, the organization can check efficiency of employees and issues in their performance. Further, feedback can be taken. This will help management to highlight the issues and factors which are causing conflict in the team.

3. Regular team meeting can be held to represent reports of team members. In this meeting project manager can identify issues and can develop appropriate strategies to overcome problems which can create conflicts.

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4. Review-Under this, project manager will review the current process of working as per the discussion of team members. This makes it possible to reduce the gap between actual and expected results. It facilitates organization to execute the business successfully without any kind of barriers during completion.

5. Control and modification-It is the last step wherein control will be done on risk in accordance with review. Here, project manager will set the corrective measure in case of issue found during the completing of project. This will reduce the risk to a great extent.

LO 5 EVALUATION AND THE CLOSEOUT OF PROJECT 5.1 Identification of the issues and risks likely to be encountered in the final stages of the project Main role of project manager and sponsor is to manage all tasks of project in such manner that all the issues can be prevented. From this aspect they are required to identify key issues and risk factors that can affect success of the project in adverse manner. This can be done through adequate planning. They should consider threat factors in planning for proper management of project (Lester, 2007). Following risk can be occurring at the final stage of project

Lack of ownership- Some decisions regarding project can be taken only by authorized persons i.e. client. However, project managers are authorized for all decision but in some cases there is still the requirement for BOD permission such has payment to stakeholders.

Due to this aspect, there may be unreasonable delay in completion of the project.



Less accountability- If responsibilities are not properly assigned by project managers then it cannot be identified who is responsible for the misconduct.

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Lack of resources- In final stages there is always threat of deficit of resources. It can be raised through inefficiency in allocation of resources which can be managed by proper planning.

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Issues can be detected by monitoring process and strategy of feedback. Regular reports will be prepared by the team on the basis of their work so continuous evaluation can be done by project managers. Prior arrangements should be made to manage ownership issues in the project (Eve, 2007). Further entire procedure should be documented to keep proper record of accountability and responsibility. Deficiency in resources can be managed by proper allocation of resources by considering plus margin in the situation of contingencies.

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Kindly Mail us at: help@instantessaywriting.com 5.2 Assessing of the essential project tasks to be completed in the final stages of the project It is the last stage of the project. In this stage, remaining formalities will be done to complete the project. In this financial statement will be prepared to represent actual cost and expenditure of the project (Bryde, 2003). Board of Directors will clear the account of project managers by paying final payments. Entire documentation will be audited by external auditors in order to assure financial accuracy. All authorities and obligations of new business will be transferred by project managers to BOD of the companies. Final presentation will be done by

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project managers on the completion of the project. Team will be reassigned by company according to their procedure (Richardson, 2010). If there are any issues, they will be solved by project managers and the project will be completed by sign off on deliverable. Apart from this assessment is done by checking that whether project is completed or not. In this regard several aspects like introduction of new project and its execution in successful manner is taken into account. For example in case execution is done appropriately then project team need to review that task to be done. In addition to this, it has also been assessed that quality aspect are done and project has been completed successful. Thus, specified criteria are checked to ensure that all essential task associated with project are completed effectively. 

Representation of actual cost-Under this process all expenses incurred for project will be represented. It will include overall relocation cost including cost of human, financial and physical resources.

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Payment to project members-After completion of project, all the project members will be paid according to contract.

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Documentation with external auditors-This step is the foremost wherein project manager will complete the documentation with extent auditors with certain facts which need to be considered in future for successful running of business.

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Assessing success factors-Here, success factors will be communicated among team members. This could be related to team work, proper coordination, timely completion of the task and optimum utilization of resources.

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Post implementation report-Under this process post implantation report will be prepared to carry out the business activities smoothly.

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Contract closures-Here, contract will be closed after proper settlement with all related parties and relocation project will be start its business at new location.

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

Reassign team-Here, all team members will be assigned their duties and responsibilities to run the business which has been relocated.

CONCLUSION In accordance with the present project report, conclusion can be drawn that project manager is required to consider all the vital factors while relocation of business. For this aspect, they are required to evaluate financial and non-financial feasibility of project. For better performance, there should be proper controlling and monitoring on the project activities. It will reduce variances and increase the quality of the project. Further project managers should have adequate interpersonal skills to execute project in an effective manner and to reduce risk factors in future actions.

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REFERENCES Andersen, S. E., and et.al., 2006. Exploring project success. Baltic Journal of Management 1(2).

Andersen, S. E., Dysvik, A. and Vaagaasar, L. A., 2009. Organizational rationality and project management. International Journal of Managing Projects in Business. 2(4).

Brewer, G. and Strahorn, S., 2012. Trust and the Project Management Body of Knowledge.

Engineering, Construction and Architectural Management, London. 19(3) Bryde, J. D., 2003. Modelling project management performance. International Journal of Quality & Reliability Management. 20(2).

Hayes, J., 2014. The theory and practice of change management. Palgrave Macmillan.

Callahan, J. R. and Brooks, L. M., 2004. Essentials of Strategic Project Management. John Wiley and Sons, Canada.

Eve, A., 2007. Development of project management systems. Industrial and Commercial Training. 39(2).

Hamilton, A., 2010. Art and Practice of Managing Projects. London: Thomas Telford.

Haughey, D., 2013. Project Planning a Step by Step Guide, [Online]. Available: <http://www.projectsmart.co.uk/project-planning-step-by-step.html>. [Accessed on 4th June 2014].

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Kerzner, H., 2009. Project Management: A Systems Approach to Planning, Scheduling, and Controlling. 10th ed. John Wiley & Sons, Canada.

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