ASSIGNMENT COVER SHEET

UNIVERSITY OF SUNDERLAND
BA (HONS) BUSINESS MANAGEMENT

Student ID: 199186406/1

Student Name: NGO LAM OANH

Module Code: SIM 335

Module Name / Title: Strategic Management Accounting

Centre / College: HCMUTE

Due Date: 20th April 2020 Hand in Date: 20th April 2020

Assignment Title: STRATEGIC MANAGEMENT ACCOUNTING

Students Signature: (you must sign this declaring that it is all your own work and all
sources of information have been referenced)
Ngô Lâm Oanh
 Faculty of Business Law and Tourism

Level: TNE April 2020 Module: SIM335 Managing Projects

Assignment Code: SIM335 Module Leader: Yannis Smirnis

Contribution to module assessment: 100%

Submission 14th April 2020

This is an individual assignment - complete both Tasks 1 and2

Background: The assignment is intended to bring out the benefits and limitations of
different approaches to project planning and control by relating these to the circumstances
in the case outlined. It is also intended to allow students to demonstrate their learning and
competence in respect of the management of resources generally but in particular
elements of scope, schedule, quality, and cost.

Task 1 (40% marks) (Total 700 words)

1) List the Four (4) stages of Project Life Cycle, and discuss the importance of the final stage.
(8 marks).

2) Through an example briefly explain the meaning of a Work Breakdown Structure

(WBS). Why is it important to have such a structure? (6 marks.)

3) Using the tables below, plot out a full Network Diagram for all projects and identify the critical
path. How many days does it take to complete every project? (2 x 3 = 6 marks).

4) What is the importance of generating a project close out report? (4 marks).

5) What is the purpose of Risk responses in Project Management? Identify and briefly discuss
The Four (4) types of responses to risk. (6marks).

6) Outline and explain the purpose of Quality audits. Identify the reasons why such methods (Project
evaluation, Monitoring and Control) you would introduce to ensure a project is completed to the
correct Quality standard. (10 marks)

Project 1
Tasks Precedence Time
a - 3 days
b a 2 days
c b 3 days
d b 1 days
e c 5 days
f c 8 days
g d 2 days
h f 6 days

1
Project 2
Tasks Precedence Time
a - 3 days
b a 5 days
c a 3 days
d b 4 days
e d 5 days
f c 4 days
g d 2 days
h f 3 days
j h 6 days

Project 3
Tasks Precedence Time
a - 3 days
b a 6 days
c b 3 days
d b 4 days
e c 5 days
f c 4 days
g d 6 days
h f 3 days
j h 4 days

Task 2: (60%) Case Study:

“Pump Ltd” is a SME company specialising in the design and supply of pumps. The
organisations they are commissioned by includes: Local Authorities, SME enterprises, and - on
rare occasions - large global companies. The company has been particularly successful since it
started trading in 2005. They trade from a single main warehouse next to the factory that also
includes office accommodation (30,000 square meters). At present the company employs: 1
General Manager, 2 Assistant Managers, 3 Administration staff, 4 Design and Sales Staff, 3
supervisors, and 20 General Operations staff.

As part of a strategy of expansion, “Pump Ltd” has employed you as a Project Manager to
manage a one off special project. This project is concerned with the opening of a building which
they recently acquired (50,000 square meters). This new building will allow the company to
target and respond to Asia and Middle-East markets for large demands for pumps and must be
opened within a 9-month schedule using an investment budget of £750,000. Initially, the new
staffing structure at the new building will mirror the existing structure at the existing site.

As Project Manager responsible for opening the new building for trade, you are required to
prepare a report (2,300 words). From a Project management perspective outline the activities
required to successfully manage this new initiative, ensuring that it is on time, 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, and leadership, administration and control problems associated with managing the

2
 lifecycle of this major project.

The answers to both tasks are independent and should be addressed separately.

3
Task 1 answers to six questions of (700 words) are to be completed as an individual task.

Task 2 a report that is produced for task two of (2300) is also to be completed as an individual task.

The total report should not be more than 3000 words (+/- 10%)

For your convenience, both tasks should be submitted as one document, which clearly states and
contains both individual tasks.

The criteria for assessing the task for the two reports will be as follows:

Report presentation (20%) (12marks)

The extent to which the assignment represents an effective report; this will be judged on:

Appearance: Is a word count included at the end of the report? Is it within the specified amount?
Is the text doubles paced?

Structure: Does the report follow the conventions of the format? Does it have a clear introduction,
explaining how it answers the questions? Do the sections of the report develop ideas in a logical
sequence? Are diagrams or other subsidiary information shown in appendices?

Spelling and grammar: Are all words spelled correctly and is the meaning of sentences clear?

Referencing: Have appropriate references been included in the report. Has a recognised
referencing system been used for notation? (See relevant section in the Guide to Basic Study
Skills)

Use of relevant theory (40%) (24marks)

Has the right theoretical content been chosen as the basis for answering the questions? Is there
evidence of the use of course notes and books? Is the theory hats selected significant to the
questions?

Analysis (40%) (24marks)

This measures the extent to which students develop a structured argument for the points they
make,by combining relevant theory with the information provided in the questions.

Any work submitted is subject to the University's rules and procedures governing
infringement of assessment regulations.

Model Leader: Yannis Smirnis Moderated by: Peter Coleman

Grading Criteria SIM335 Managing Projects Individual Assignment

4
First Class (70 –100%)

A creative and original response to the question. Critically reflecting on perceived theory and
experiences. Wide and appropriate use of sources (theory and practice) based on reading and
experiences. Answer written fluently, with evidence of a highly developed capacity to
structure work systematically and argue logically.

Upper Second Class (60 –69%)

Comprehensive knowledge of concepts and theories. Appropriate application of theory and

experience to the question answered. Ability to inter-relate concepts and ideas. Some originality in
approach and awareness of scope and limitations. Answer systematically structured and coherent.

Lower Second Class(50-59%)

Evidence of knowledge of concepts and theories. Attempts to relate and balance theory and
practice. Main issues addressed appropriately. Mainstream texts and lecture notes used. Work
presented in a structured form but arguments weak in places.

Third Class(40-49%)

Evidence of uncritical knowledge of main concepts and theories. Limited attempts to relate theory
and practice relaying on personal opinion or assertions. Limited evidence of reading. Presentation
and structure weak in several places.

Fail (0 –39%)

Some knowledge of main concepts and theory but major omissions and / or
misunderstandings. Style and structure weak and overly descriptive. Considerable
limitations in ability to perceive the relationship of theory and practice.

Limited reading.

Submission

Students are required to submit their coursework through JIRA. Only assessments
submitted through JIRA will be marked. Any other submission including submission to your
5
Study Centre in hard copy will be treated as a non-submission.

If your centre supports Turnitin©, a copy of your Turnitin© originality report must be
submitted in conjunction with your assignment

6
SIM335: Management of Projects (Academic Year20015/16)

Task 2
Criteria 70% + 60-69% 50-59% 40-49% <40%
Use of The report identifies all the relevant The report identifies most of the On the whole, the report identifies The report identifies some of the The report fails to identify the
relevant theories to answer to complete the relevant theories to answer to the relevant theories required to relevant theories to answer to relevant theories to answer to
theory task. The theories used are complete the task. On the whole the answer to complete the task. The complete the task. The theories complete the task. The theories
described in detail. There is clear theories used are described in theories used are sometimes used are partly described. There is used are not described. There is no
Indicative evidence that course notes, books detail. There is clear evidence that described in detail. Overall, there is some evidence that course notes, evidence that course notes books
weighting = and other sources are used. course notes and books are used. clear evidence that course notes and books are used. Theories used or other sources are used. Theories
40% of 60 Theories used are significant in Theories used are largely significant and books are used. Theories used are sometimes significant in listing used are not significant in listing the
mark listing the activities required to in listing the activities required to are significant in listing the activities the activities required to activities required to successfully
(24marks) successfully plan and manage a successfully plan and manage a required to successfully plan and successfully plan and manage a plan and manage a major project.
major project. major project. manage a major project. major project.
Analysis There is evidence of extensive There is evidence of some There is evidence of some research There is evidence of limited There is no evidence of research
research from a variety of sources extensive research from a variety of to provide better understanding to research being conducted to from a variety of sources to provide
Indicative to provide better understanding to sources to provide better the background of the task but provide better understanding to the better understanding to the
weighting = the background of the task. A understanding to the background of sources are not extensive. There is background of the task but sources background of the task. There is no
40% of 60 structured argument is taken for the the task. A structured argument is some structured argument taken for are not extensive. There is limited structured argument taken for the
mark points made by combining relevant taken for the points made, often by the points made. The relevant structured argument taken for the points made. The relevant theories
(24marks) theories with information combining relevant theories with theories are not always combined points made. There are only limited are not combined with information
researched or provided in the task. information researched or provided with information researched or combinations of the relevant researched or provided in the task.
The conclusions are clear and link in the task. The conclusions on the provided in the task. The theories with information The conclusions are unclear and
into the requirements of the task. whole are clear and link into the conclusions are not clear and have researched or provided in the task. only descriptive. Conclusions also
requirements of the task. only limited linkages into the The conclusions are descriptive and do not link into the requirements of
requirements of the task. do not link into the requirements of the task.
the task.
Presentation The presentation is clear. There are
and no or few spelling or grammatical
Structure errors. The report has been
referenced correctly, using the
Indicative Harvard style of referencing. A word
weighting = count is provided at the end of the
20% of 60 report and is within the limit of 2300
mark words. The report is text double-
(12marks) spaced.
The structure of the project is clear,
cohesive and logical. Each section
has been clearly structured using
sub-headings (signposts) and these
follow a logical order. Additional
diagrams and other subsidiary
information are shown in the
appendices and properly
referenced. Appendices are
relevant and are able to provide a
better understanding to the report.
Total: 60marks
The presentation is on the whole
clear, there are no or few spelling or
grammatical errors. The project has
been referenced correctly, using the
Harvard style of referencing. A word
count is provided at the end of the
report and is within the limit of 2300
words. The report is text double-
spaced.
The structure of the project is on the
whole clear, cohesive and logical.
Each chapter has been clearly
structured using sub-headings
(signposts) and these on the whole
follow a logical order. Additional
diagrams and other subsidiary
information are shown in the
appendices and properly
referenced. Appendices are mostly
relevant and are able to provide a
better understanding to the report.
The presentation is partially clear.
There are occasional spelling and
or grammatical errors. The project
has not always been referenced
correctly, using the Harvard style of
referencing. A word count is
provided at the end of the report but
is not within the limit of 2300 words.
The report is text double-spaced.
The structure of the project is not
entirely clear, cohesive or logical.
Each section has partially been
clearly structured using some sub-
headings (signposts) but it is
difficult to follow. Additional
diagrams and other subsidiary
information are sometimes shown in
the appendices but not always
properly referenced. Appendices
are occasionally relevant and are at
times able to provide a better
understanding to the report.
1
The clarity of the presentation of the
project is limited. There are spelling
and or grammatical errors. The
project has not been referenced
correctly, using the Harvard style of
referencing. The layout is loose and
was difficult to follow.
The structure of the project is not
clear, cohesive or logical. Each
chapter has been limited structured
using some or no sub-headings
(signposts), which made it very
difficult to follow. Additional
diagrams and other subsidiary
information are not shown in the
appendices and not properly
referenced. Appendices are
irrelevant and are not able to
provide a better understanding to
the report.
The presentation is unclear. There
numerous spelling or grammatical
errors. The report has not been
referenced correctly, using the
Harvard style of referencing. A word
count is not provided at the end of
the report and is not within the limit
of 2300 words. The report is not text
double-spaced.
The structure of the project is
unclear, inconsistent and illogical.
Sections are not clearly structured
using sub-headings (signposts) and
do not follow a logical order.
Additional diagrams and other
subsidiary information are not
shown in the appendices and not
properly referenced. Appendices
are irrelevant and are not able to
provide a better understanding to
the report.
 MANAGING PROJECTS
ASSIGNMENT
Word count: 2954

Student name: Lam Oanh Ngo

Student number: 199186406/1

Course: SIM335 – Managing Projects

Lecturer: Hien Pham

Tutor: Triet Nguyen

Date of submission: 20th April 2020

  
Task 1: Philosophies discussion

Table of Contents

Task 1: Philosophies discussion 1

1. Project Life Cycle (PLC): 2

2. Work Breakdown Structure (WBS): 3

3. Network Diagram and Critical Path: 3

4. Project close out report: 5

5. Risk responses: 5

6. Quality audits: 6

1. Project Life Cycle (PLC):

Project life cycle (PLC) is a four-step process including the stages that a project must go from
start to finish. This framework is suitable for all types of projects, so it is popularly applied
by project managers. According to Jeffrey K. Pinto, PLC contains stages: Conceptualization
involves activities of developing project’s goal and technical specifications as well as
determining the scope and resources needed. The following Planning stage aims to develop a
detailed strategy for the next phase and for achieving a successful project through activities
such as planning specifications, schedules, schematics, and deciding work packages,
individual assignments, and so forth. After that, all planned activities are put into action with
risk monitoring, supervising and controlling by the managers at Execution stage. In
Termination stage, the completed deliverables is transferred to the customer, and all activities
are closed [CITATION Pin16 \l 1066 ]. This step is important because it indicates the success
of the project based on whether the final product can reach to the customer or not, moreover,
the supplier contracts must be terminated as well as the resources must be released otherwise
material costs and variable costs still arise. [CITATION Wat20 \y \l 1066 ]

1
 Conceptualization

Termination Planning

Execution

Figure 1.1: Project Life Cycle

2. Work Breakdown Structure (WBS):

To begin with, the chart below represents the simple Work Breakdown Structure of a Site
Software Development project:

Site Software
Development
0.0

HTML Design Backend Graphics and Content

and Creation Sofware Interface Creation
1.0 2.0 3.0 4.0

Middleware Security Catalog Transaction

Development Subsystems Engine Processing
3.1 3.2 3.3 3.4

Figure 1.2: WBS of a Site Software Development project.

As can be seen from the chart, there are four phases required to develop a site software. Each
phase includes multiple tasks called work packages, such as phase 3.0 Graphics and Interface
which contains four work packages. Hence, basically WBS is a method of breaking down the
whole project into smaller tasks and work packages [ CITATION Pin16 \l 1066 ]. This
hierarchical decomposition is globally applied because of its benefits such as: foundation of
costs estimation, ensuring all aspects of project covered, improving work performance
[ CITATION SIN18 \l 1066 ], identifying potential risks, easier tasks assignment to
individuals, better milestones control [CITATION Uni20 \y \l 1066 ].

2
3. Network Diagram and Critical Path:

Network Diagram refers to visual presentation of scheduled activities in a project. It also

illustrates the relationship between activities called “nodes” which are connected through an
arrow line. A network diagram can be simple or complex depending on the scope of the
project [CITATION Ron20 \y \l 1066 ]. Meanwhile, the longest sequence of activities is the
Critical Path, which demonstrates full time duration of the project [CITATION 20220 \y \l
1066 ].

Project 1: Time duration: 22 days; Critical path: a-b-c-f-h

Project 2: Time duration: 19 days; Critical path: a-c-f-h-j

3
Project 3: Time duration: 23 days; Critical path: a-b-c-f-h-j

4. Project close out report:

Project close out report is a document that Project Manager uses to communicate the final
project result to the top management of the company and stakeholders which can be called
the sponsors. This report is obligation at the end of every project meaning the Termination
stage. The contents of this report include the overall project performance evaluation, the
financial documents, the management of risk, schedule, quality, material resource and human
resource, scope changes, and project achievements. Each section must be presented in both
planned and actual results for major purpose of comparison. The Project Manager’s
responsibility is to analyse the variance between baseline plans and expectations, then
explaining it to the sponsors. Without this close out report, the managers and the company
cannot state the actual achievement or figure out the problems of failure. Moreover, the
document is stored as reference for future projects [ CITATION Vis18 \l 1066 ][CITATION
4
Ama20 \y \l 1066 ].

5. Risk responses:

In project management, risk is defined as uncertain event or condition which can affect the
project in positive or negative way. Therefore, the Project Manger must identify all potential
risks and plan out appropriate strategies called Risk Responses so as to control them
[CITATION Pre20 \y \l 1066 ]. According to Pinto, there are four types of risk responses
that Project Manager can flexibly adopt to control risks.

Firstly, in the situation of risk which is least likely to occur and causes minor impact such as
natural disaster, the Project Manager can apply the Accept strategy. Minimise risk is the
second option. This strategy focuses on reducing the likelihood and impact of the risk which
mostly happened by poor management or catastrophic failure from technical testing. Thirdly,
risk can be shared to partner suppliers through initial negotiated contract terms. This strategy
helps the company for not embracing fully the negative effect. Finally, there are medium
likelihood occurring risks with major level of severity in practice. It is best for transferring
these risks to the third party which commonly is the insurance [ CITATION Pin16 \l 1066 ].

6. Quality audits:

Among the essential pre-planned audits in project management, Quality audits are one of
them. Besides the purpose of correcting deficiencies which cause the reduction of cost of
quality, quality audits are applied for meeting the following objectives: practise and safety
stander of deliverables, laws and standards obligation, on-time implementation of corrective
actions, strictly following of quality plan, timely application of quality improvements, and
well-organized changes implementations. Quality audits are carried out randomly or at
schedule by internal auditors or external agencies [ CITATION Pro20 \l 1066 ][ CITATION
Mat18 \l 1066 ].

In quality management, project evaluation, monitoring and controlling are highly

recommended. With the participation of the three above, the quality of the project is ensured
according to the set standards by comparison during the evaluation process; problems or risks
that affect the quality of the project are also promptly detected and then addressed or
minimized; quality management is also monitored and evaluated for the purpose of
development, improvement, or change as necessary. Hence, the quality result of project will
be optimal when applying these methods [ CITATION IES17 \l 1066 ][CITATION Fot20

5
\y \l 1066 ].

6
Task 2: Project Plan for Pump Ltd.
1. Executive summary

In accordance to the scenario, playing a role of the Project Manager of Pump Ltd, the author
is assigned to make a plan for the opening of a new building. The project of opening of a new
50,000 square meters building is required to finished in 9 months length with the budget of
£750,000.

The paper follows the structure of Project Life Cycle with four stages of Conceptualization,
Planning, Execution, and Termination. The first stage provide information of project’s goal,
objectives and the charter table. Second stage is about planning out the project schedule
through Work Breakdown Structure, Gantt chart, and identifying potential risks and financial
allocation. The third stage focuses on the management and control of the project. Finally, the
project finishes after transferring deliverables and communicating the close-out report.

Table of Content

7
s

Task 2: Project Plan for Pump Ltd.......................................................................................6

1. Executive summary..............................................................................................................6

2. Introduction.........................................................................................................................8

3. Project conceptualisation:...................................................................................................8
3.1 Goal:.................................................................................................................................................8
3.2 Objectives:........................................................................................................................................8
3.3 Project charter:................................................................................................................................9

4. Project planning:................................................................................................................11
4.1 Work Breakdown Structure (WBS):...............................................................................................11
4.2 Sequencing activities:.....................................................................................................................11
4.3 Gantt Chart:....................................................................................................................................12
4.4 Project Team:.................................................................................................................................13
4.5 Financial planning:.........................................................................................................................14
4.6 Risks Assessment:..........................................................................................................................15

5. Project execution:..............................................................................................................15
5.1 Leadership:.....................................................................................................................................15
5.2 Motivation:.....................................................................................................................................16
5.3 Control:..........................................................................................................................................16

6. Project termination:...........................................................................................................17

Conclusion.......................................................................................................................18

References.......................................................................................................................19

8
2. Introduction

“Pump Ltd.” is a SME company specializing in design and supply of pumps. Being
successful since started trading in 2005, the company has contracted with not only local
authorities and SME enterprises but also large global companies. As the large pump demands
of Asia and Middle East markets, Pump Ltd. decided to open one more new building to serve
the loads. This project of opening this building is expected to complete in around 9 months
with £750,000 budget of investment. As being the company’s Project Manager, the author is
assigned to make a report which plans for all activities of the project under structure of
Project Life Cycle (PLC).

3. Project conceptualisation:

3.1 Goal:

The project goal of Pump Ltd. is to have a new well-facilitated building of 50,000 square
meters so as to put into operation after 9 months for responding to the large pump demands in
Asia and Middle East markets.

3.2 Objectives:

The objectives of the project are set under the application of SMART technique which
includes of elements Specific, Measurable, Attainable, Realistic, and Time-bound
[ CITATION CMI11 \l 1066 ].

The identified objectives are:

- The project is completed by the end of 2020

- Overall costs do not exceed the budget of £750,000

- Lower risks of labour and equipment accident at the least possibility

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 3.3 Project charter:

General Information
Project Title Date
The opening of a new building April 1, 2020
Project Manager Phone Email
Oanh Ngo 210-7507 oanhnl@gmail.com
Project Owner Phone Email
Pump Ltd. 385-9894 pumpltd@mail.co.uk
Document Version Updated Date
2.0 March 20, 2020

Project Scope
Situation/Problem/Opportunity
Pump Ltd has recently acquired a new 50,000 square meters building to adapt the demands
of Asia and Middle East markets. This new building included Office, Warehouse and
Factory is in need of setting up so as to put in operation.
Project Goals
The project goal of Pump Ltd. is to have a new well-facilitated building of 50,000 square
meters so as to put into operation after 9 months for responding to the large pump demands
in Asia and Middle East markets.
Objectives / Deliverables
 The project is completed by the end of 2020

 Overall costs do not exceed the budget of £750,000

 Lower risks of labour and equipment accident at the least possibility

Risks
 Natural disaster
 Machinery broken during delivering
 Accident of labours
 Unexpected increase in material costs
 Low productivity of labours and equipment
Resource Requirements
 People:
o Project Manager
o General Manager
o Assistant Manager
o Administrations staff
o Design and Sales staff
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 o Supervisors
o General Operation staff

 Time:
o The initial time for the opening of new building project duration is
approximately nine(9) months with an implementation starting in April 1,
2020.

 Budget:
o The approve budget for the opening of new building project is £750,000

High-Level Constraints
 Budget of £750,000
 Nine months allotted for project completion

Project Team Roles and Responsibilities

Project Team Roles Responsibilities
Project Manager Planning, together with project team members manage all
activities, make final decisions for the project
General Manager Together with Project Manager manage and make appropriate
decisions, recruit core Human Resources for new building
Assistant Managers Assist all project team members on overall activities, write a
job description, schedule interview dates
Administration Staff Responsible for finding and selecting workers, suppliers and
agencies
Design and Sales Staff Responsible for the design, decoration, stationery and opening
ceremony
Supervisors Monitoring work process, work performance of workers and
reporting progress to Administration staff
General Operation Staff Responsible for all technical aspects, machinery and equipment
4. Project planning:

4.1 Work Breakdown Structure (WBS):

The Work Breakdown Structure diagram of all involved activities of the project is as follow:

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 Opening of new
building
0.0

Decoration (D) & Equipment & Human Opening

Hiring Workers
Stationary (S) Machinery Resources Ceremony
1.0 2.0 3.0 4.0 5.0

Finding (D)
Making lists Recruiting Finding agency
agency
2.1 3.1 4.1 5.1

Finding (S) Choosing

Selecting Listing guests
supplier suppliers
2.2 3.2 4.2 5.2

Designing
Ordering Training Inviting guests
structure
2.3 3.3 4.3 5.3

Receiving &
Ordering (S) Set up
Checking
2.4 3.4 5.4

Furnishing Installing
2.5 3.5

Phone line Testing new

installing machinery
2.6 3.6

Figure 2.1: Work Breakdown Structure of opening of new building project.

4.2 Sequencing activities:

The figure below describes all activities of the project in logical order. In order to further
support the time management, the author also have some specific milestones coloured red.

12
 Figure 2.2: Sequencing activities of Opening of a new building project.

4.3 Gantt Chart:

Microsoft Project is used to create the Gantt chart under the sequencing activities listed
above. Specifically, the project starts in April 1 st, 2020 and ends in December 31st, 2020. A
working week is from Monday to Friday only.

13
 Figure 2.3: Gantt chart of Opening of a new building project.

4.4 Project Team:

Every project requires a specific team for managing and implementing the project plan. A
project team commonly consists of a Project Manager and a number of team members.
Sometime, a manager from the top management of the company also involves in the project
so as to support the Project Manager with the management and decision making. In this
opening of a new building case, the project team includes 1 Project Manager, 1 General
Manager, 1 Assistant Manager, 1 Administration staff, 2 Design and Sales staff, 2
Supervisors, and 5 General Operations staff. Excluding the Project Manager, all remain team
members are borrowed from the current 30,000 square meters building. Because this is a
14
project to set up and make opening of a new building with larger in area, it is necessary to
have individuals with the understanding of the structure, equipment, manpower required as
well as management and operating experience. Therefore, borrowing human resources from
the current building is very satisfactory. Moreover, in the process of finding and training new
staffing structure for this new building, their presence here is very necessary and saves more
costs instead of having to send trainees to that building.

4.5 Financial planning:

The budget of £750,000 is divided for five main activities as follow:

Task Name Cost (£)

Hiring workers 150,000
Decoration & Stationary 113,600
- Designing 20,000
structure
- Ordering stationary 40,000
- Furnishing 34,500
Equipment & Machinery 350,000
- Ordering 200,000
Human Resource 60,000
- Training 60,000
Opening ceremony 35,000
- Set up party 35,000
Total 708,600

Table 2.1: Total costs allocation of the project.

The total planned costs for all activities is £708,600. However, the provided budget is
£750,000, so the remain of £41,400 will serve as the contingency in case of any unexpected
increase in costs happens.

4.6 Risks Assessment:

Frequency Risk
Risk Events Likelihood
Severity Responses
Natural disaster 5% 2 Accept

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 Machinery broken during delivering 25% 4 Transfer
Accident of labours 50% 3 Share
Contingency
Unexpected increase in material costs 70% 2 &
Share
Low productivity of labours and equipment 85% 3 Minimise
5 – Catastrophic 4 – Major 3 – Moderate 2 – Minor 1 – Insignificant

Table 2.2: Risk assessment of the project.

It can be seen from the table that the Project Manager has identified major potential risks in
accordance with their likelihood of occurring and level of frequency severity. The author also
decides risks response strategy for each issue. Initially, the minor impact with the rare rate of
happening of natural disaster is best suited the Accept risk strategy if appearing. Though the
likelihood level of machinery broken during delivering is not high, but the impact it could
cause upon is severe. Therefore, it is best to have insurance for these important machineries.
Thirdly, labours are often to get accident during working, which leads to delays or reduction
in performance. In that case, jobs can be shared to other workers temporarily before finding
replacements. Due to some mistakes or the rise in market price, costs of material can increase
unexpectedly. However, the problem is solved by setting fixed price in the initial contract
with suppliers or agencies, besides the contingency budget is also an appropriate solution.
Last but not least, wrong or poor management methods results in low productivity of labours
and equipment. The Project Manager can minimise its effect by timely changing the
leadership, offering better motivating benefits, and so on.

5. Project execution:

5.1 Leadership:

Proper leadership helps Project Manager not only manage team members effectively, but also
promote their participation and loyalty, which results in better project process management.
In practise, there are many popular leadership styles, such as Autocratic, Democratic,
Laissez-Faire, and others. A manager can flexibly use different types of leadership within
different cases or employees to achieve the best management. However, as a Project Manager
of this case, the author choose to apply only democratic leadership style when it allows the
members contribute their ideas and participate in the process of decision making. Also, the
team members which come from current building is also a reason for choosing this style.

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 5.2 Motivation:

In order for this project to achieve the maximum efficiency, employee’s motivation is greatly
essential. Motivation methods such as Maslow's hierarchy of needs or Vroom's expectancy
theory are both suitable for Pump Ltd. applied in project management. Efficiently employee’s
motivation and satisfaction can be able to help accelerate project progress, cost savings, and
in particular can significantly reduce the potential for generating risks of disputes or strikes,
and others among employees.

5.3 Control:

5.3.1 Time management:

The management of time is extremely important since the project has its deadline of
completion. By proper scheduling all activities of the project, it can not only avoid the
lateness but also prevent wasting the human and material resources, which may lead to
expansion in costs. In this project, the Project Manager use Gantt chart for time management
when it specifically presents all activities along with detailed start and end dates.
Additionally, tracking the schedule through Gantt chart can support to make necessary
corrective actions in need.

5.3.2 Cost management:

As one of the mandatory limiting factors of the project, cost must be strictly controlled.
Based on the budget allocation plan in the Financial planning section, the Project Manager is
responsible for checking and comparing the planned costs and actual costs records in order to
ensure the accuracy of expenditures and avoid the overspending to occur.

5.3.3 Quality management:

The quality of the project is another factor required strictly management because the project
must meet the standards to be successfully delivered. In this quality management process, the
involvement of methods such as project evaluation, monitoring, and controlling is essential.
The scheduled evaluations of all activities support the Project Manager for managing the
quality of the project as well as time and cost management. This project can use the standards
from the current building as a frame or adding others as the purpose of development. The
objective of standards meeting also contributes greatly to the more effective project
management.

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6. Project termination:

In this stage of the cycle, the Project Manager hands over the complete facilitated building to
the company – Pump Ltd. The close-out report is prepared and then communicated to the
company and stakeholders. Content of the report includes the project’s final result, summary
of the overall project process, the performance of risk, quality and management control as
well as the related financial documents. After communicating, the report is analysed so as to
make the lesson-learned for future reference. At the end, borrowed staff team returns to their
own positions along with the withdrawal of the Project Manager.

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Conclusion

Overall, the assignment has presented knowledge of project management related theories and
a complete plan using Project Life Cycle for Pump Ltd. The first part provided the author
with foundation of philosophies about the Project Life Cycle structure, Work Breakdown
Structure, Network Diagram with Critical Path, the importance of close-out report, risks
response strategies and quality audits in project management. These information greatly
contributed to support the author conducting project plan in Part 2. After finishing the plan,
the author has known what are the contents of a proper project; how project activities are
monitored and controlled; the importance of risks identification and the mitigation strategies
along with; the importance of Work Breakdown Structure and Gantt chart in managing
project schedule, resources, human, and finance. All the tasks must be evaluated, monitored
and controlled so as to ensure the project meets the quality standards and planned objectives
before transfer deliverables.

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