Project Management Concepts Coursework Example | Topics and Well Written Essays - 1500 words

Project Management Concepts - Coursework Example The present study has been conducted in lieu to analyze the critical factor related to the successful execution of a project. The present study consists of two divisions; the first part consists of various stages of a project life cycle while the second part of the study deals with the preparation of a project plan for KFC Hale (Kousholt, 2007, p. 121) Task-1 Project life cycle brief Before getting in to explaining the case of project life cycle through practical example it is important to provide a brief overview of a project life cycle. A project life consists of four different stages namely initiation, planning, execution and evaluation. The initiation phase begins with defining the scope and purpose of the project. The first step of the planning phase is creation of the detailed project plan. The execution phase of the project includes the explanation of the deliverables by the project manager. It also includes the monitoring and control of the project delivery. The project evalu ation or implementation phase is carried out in order to determine the overall success of the project (Biswas, 2011, p. 105). Example The XYZ manufacturing company LTD is a small and medium scale computer manufactures. The company is looking to achieve process efficiency by reducing product delivery time and inventory costs. The company has hired a project consultant to provide guidance for the project throughout the life cycle of the project. Initiation This phase involves defining the purpose and the scope of the project. In this particular case the main goals of the project is to provide improved system and controlling the inventory as well as reduce the product delivery systems. The project would look to provide a modularized, flexible bill of material system to reduce the support cost. The objectives of the project would be to achieve inventory cost reduction of 25% of the display, improve average days to deliver the displays from eight to three days and server delivery to ten to five days (Kloppenborg, 2011, p.345) Planning The planning phase would involve the creation of a set of planning documents. The main objective of the phase is to create a project plan to identify the work breakdown structure or WBS of the key activities needed to complete the project. Project ID Deliverable Due Date Display Division goes live Complete inventory module Complete Bill of material module Complete order entry module Finalize testing and training 05/01/13 08/04/13 11/09/13 05/01/14 Server Division Live Complete inventory module Complete Bill of material module Complete order entry module Finalize testing and training 01/06/13 02/07/13 03/09/13 05/01/13 The planning phase would also require human resource planning as well as financial planning. The brief overview has been given blow: Execution Phase During the execution phase the project deliverables are physically built and presented for the acceptance of the client Activity Description Ownership Identification In the beginning of the project the major risks would be documented for the purpose of tracking. Specific management team is responsible for developing key project management strategies to establish the possible risks.