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Project M Final.
Project M Final.
Project M Final.
Before reaching on to practical examples and analysis it is viable that the user gets the
fundamental basics out of the module project management. The following report will intend on
annexation of an example of a company/industry in relation to, construction, manufacturing,
service delivery or quality enhancement and a brief analysis will be forwarded in accordance to
the project manipulations and activities carried on in the certain business environment’s. This
business environment will be a project on regarding to the Tea industry. Before reaching on to
the analysis a bit more basics should be entailed in the following context on regarding project
management.
Project management is the use of procedures, methods, skills, knowledge, and experience to
meet particular project objectives within agreed-upon boundaries while adhering to project
acceptance criteria. Final outputs are bound by a certain timeframe and budget in project
management. The organization which is selected is a Tea Industry which already established in
Nuwara Eliya but has a plan of expanding its production.
Tea is a very important crop in Sri Lanka. owners of tea small holdings and private estates has
contributed almost 60% of the tea export earnings. The rest production is produced by the
regional plantation companies. This will be a better opportunity for us to expand our institution
in Nuwara Eliya.
The project planning could be analyzed through the pestel analysis This is an analysis on regard to
political, social, economic, and technological factors in the external environment which will affect the
industries action and performance.
Considering PESTEL
Political Factors
This represents the effect that cause the government intervening in the economy. The legality behind this
factor includes labor law, consumer protective mechanism, various tax affirmation, certain environment
regulations etc. Here the main statutory implication intervening in the political regime mainly would be
the Tea control Act, and certain other provisional statutes sch as Tea (Tax and Control of Export) Act
No.16 of 1959 and subsequent act is the Sri Lanka Tea Board (Amendment)Act N.29 of 2003 etc. This
act basically provides the regime of registration of tea plantation and the proprietors. The amount of tea
which are orderly and annually taken into the plant for manufacturing tea products. This mainly sets out
the limitation by the government on how productivity should set out the tea manufacturing process.
Economic factors
As the name implies it depicts the affect created by the economy. As to the current crisis due the inflation
of the currency dollar imports have been challenging and production cost will be competitive module in
terms of economic impact. Each industry has been momentarily depreciating and lead into bankruptcy.
However, this creates challenging circumstances for us as tea industries due to the economic crisis. The
exchange rates have affected the whole economy which alternatively has risen the prices of products and
most of the society is facing a critical situation at it best. Furthermore, the interest rates existing affect the
capital of a business at a larger extent.
Technological factor
Currently the technological factor existing is not much developed as it seems to be when compared to
other industries. For a tea industry being highly intensive in technological factors is least affecting the tea
industry. However, incorporating such diverse technological approach in the production of tea, the
company will be a bit symbolic in terms and diverse in quality and possess a great customer satisfaction.
However, in laymen term the technological criteria s not very advance in the tea industry when compared
to other industries.
Environmental Factors
Tea does have a great impact in environment, the area selected will be more productive if the size and the
type of soil is great. Specifically, tea is usually grown in hilly areas and n area with lower temperature
such as Nuwara Eliya, ell regions. Only a limited countries contribute themselves in growing tea which
are India, Sri Lanka, China Indonesia, and Kenya. Usually, tea should be grown in monoculture which
normally reduces biodiversity. There are some instances where tea in tis raw form is available vast in
hilly areas, however they are bathed in using pesticides and fertilizers and certain insecticides, but the
reason is they are particularly harmful to humans though harvest is particularly better.
Legal factors
The factor of stock reduction is discussed here. Although there is certain correlation between the stocks in
market and their prices, there is a thing which is called perishing ability of tea, which is the stocks are
usually lesser when compared in relation to consumption’s which is a popular beverage in every country
basically, there could be oppositions created from other countries in making such a scheme more difficult
in progression. Countries which have high demand in tea will have less exports in which lesser amount of
production. This is done to maintain the market of the product. The legal circumstances which are faced
by the relevant industry was the property issues which dealt with property law.
Initiation: This phase establishes the project's scope and deliverables. The success of a project
may be determined by the quality of its deliverables.
Planning: Establishing a workflow, resources, and budget are all important aspects of planning.
The success of a project is influenced by the precision of this planning.
Execution: This stage keeps track of the project's budget, progress, and quality. The success of a
project may be measured by the performance of these factors.
Monitoring and control: Project managers will actively monitor and regulate the project's progress
during this process group to ensure that it is progressing effectively. Data gathering and verbal
and written status reports may be utilized as recordkeeping.
Closure: This phase examines the fulfillment of project milestones and deliverables, which have a
direct influence on the project's success.
REQUIREMENTS & MESURES- HOW ARE YOU GOING TO
MEASURE SUCCESS?
Appraising the project scope, analyzing the project budget, examining project requirements and reviewing
client and internal satisfaction are all ways to assess a project's performance.
These procedures are outlined below.
Examine the Project's Scope- Start by evaluating the project requirements and deliverables that
the group consent at the commencement.
Assess the Project Requirements- Whether the project is on the right path to accomplish the
expectations and objectives? You can tell whether this is the case by looking at if all of the
deliverables have been completed and the deadlines have been reached.
Examine the Budget for the Project -The budget can be a crucial determinant of a project's
success. Examine how much time was spent on the project or if it went over budget.
Evaluate Customer Satisfaction- The significance of customer satisfaction of the project result
cannot be overelaborate. If the customers are not satisfied with the outcome they should give the
opportunity to give feed back.
Examine team satisfaction and internal growth.- It's critical that the project team is satisfied with
their involvement and the project's outcome. Was the project fascinating and challenging? Is the
level of the offerings satisfactory to the team? These factors relate to the business team's work
happiness and contentment.
Make sure you know how to build an effective communication strategy if you want your project to be
finished successfully and on schedule.
When keeping the step to do such a project like this the owner of the tea organization or the person in
charge of this project should organize the project well. The person in charge should have a separate
team for things to find the best things and places suitable for the project such as site selection, land
preparation, purchasing of seeds, purchasing of fertilizer etc. The person in charge should keep a team
ready specially for pests and diseases if the plantation is affected.
Project planning
Inorder to have a efficient and effective plan the managers in charge should initiate a work break down
structure.A work breakdown structure (WBS) is a decomposition of a project that is visible, hierarchical,
and focused on deliverables. This is a very useful chart for project managers in order to commence and
understand the project properly.
Below we can see how a WBS can be initiated in order to successfully carry on a tea project.
Scheduling including Gantt charts (linked to WBS)
A Gantt chart is a project timetable. The time period is shown at the top of the chart, and the project
activities are listed on the left side.
In project management strategies, Gantt charts may be a useful graphic. This, breaks down project
activities day by day.
Estimating
When a company estimates the overall cost of a project by precisely defining the scope of work, it is
known as project cost estimation. To anticipate a project's overall cost to deliver, it's necessary to look
at the activities, length, and resources required. The closer a project's estimate is to the actual cost, the
more probable it is that spending will remain in the black after it begins.
Constraints
The three key restrictions that project managers should be aware of are time, scope and money.. These
are sometimes known as the project management triangle. Each restriction is linked to the other two;
for example, expanding the project's scope would almost certainly need more time and money, whilst
shortening the project's timeframe may save money but reduce scope.
Cost planning
Cost planning is an important aspect of project management. To control resource demand, project
managers must understand where expenses fall in their schedule.
In most cases, a resource-optimized timetable will include all resources that consume expenses. This
sort of timetable is necessary for cost planning since it aids in the construction of a picture of anticipated
expenses over time.
Plan Quality – First is to consider the quality standard for the product and then how to handle it. Agree
on how this procedure will be recorded and provided. Will you be meeting on a regular basis, sending
emails, and so on? These details, as well as measures for monitoring quality while managing the project,
will be included in the plan.
Quality Assurance - Quality assurance refers to the planned and systematic operations carried out in a
quality system to ensure that a product's or service's quality criteria are met. Use quality assurance to
ensure that your procedures are operating to ensure that project outputs satisfy quality standards. A
process checklist and a project audit are two options for accomplishing this.
Quality Control - Every process, in a sense, requires an enforcer to ensure that the rules are followed,
and the desired quality is met. Peer reviews and testing are two methods for ensuring that the required
quality of the deliverables is met. During the project management process, it's critical to examine the
quality of the deliverables in order to alter them if they don't satisfy the established requirements. This
may be done towards the conclusion of the project, however redoing rather than readjusting is less
efficient.
Setting quality objectives for your team to meet, determining methods to monitor those quality targets,
and reporting on them are all part of project quality management. Gantt charts that make scheduling
and monitoring quality management chores a breeze. You may submit a task list or spreadsheet to
Project Manager, and it will be automatically generated on a timeline.
RISK MANAGEMENT
There may be so many risks imposed on any business organization time to time in which the
owner could face. Certain risks such as health and safety risks, operational, risks which includes
administrative procedures such as recruitment. These are some of the potential issues which
could arise causing financial loss (Essay, 2022). The project management should take precautionary
steps to depreciate such risks causing to the business. Different actions are taken to depreciate
such loss of control. Risks could not be completely overridden unless action could be taken to
severe the frequency of risk apprehended to the organization. One of the prevention techniques is
insurance (indemnifying the damages caused.) there have been reports recently based on the
management discretion where there has been recruitment of several employees without training
which were basically recruitment under political effect. This causes unusual jargon of conflict
within the procedures of manufacturing etc. There’re to reduce the hazards caused during
recruitment it is appropriate to train the recruited personnel before interns (Essay, 2022). To create
awareness on risk management there should be momentarily created programs on regard to this
(Essay, 2022).
There should open for an investment criteria and invitations should be open for entrepreneurs all around
the island Sri Lanka which is a great opportunity for development. The financial loans taken from
financial institutions should be recovered very soon, without getting down stepped negligently. Since the
current financial validity is strong the loans could be recovered gradually without hesitation. The financial
management of the Tea industry should have prepared plan in overreaching this situation. Therefore, the
loan covenants which are applied to the tea industry could be withdrawn without any hesitation and
proceeded further. Though the Tea industry is yet in the loan duration it is ineffective to make them
applicable unless an agency with appropriate authority does strongly commit in requiring action.
Growing, plucking, withering, rolling, fermenting, drying, blending, and packaging are the some phases
of the tea supply chain process. The entire supply chain is then enhanced further with transporters and
merchants to assist give this critical goods to clients all around the world. We can see the below diagram
to get a more in depth idea of the tea supply chain
PROJECT CLOSURE/MATURITY
The study basically conducts in looking at certain key aspects on trend of the tea industry in Sri Lanka.
Sri Lanka is one of the major tea producers in the world and the biggest available consumers with
dominant consumption rate throughout. The industry was striving to create better effort to play a
significant role as a major layer not only Sri Lankan economy but also international. There was different
parameter which were discussed such as the production, prices, exports, technological aspect,
implementation of various initiatives in generating a high profit, resulting from highly competitive for
industry. In gaining the competitive advantage, Sri Lankan tea industry required various improvements in
the research facility, various introduction of modern technology and machinery, various small tea growers
are ultimately adopted into the tea chain due to the result of the global impact. To gain the competitive
advantage tea industry require improvement done research facility, introduction to modern technologies.
There could be changes in tea trade and brands which could lead into restructuring. Tea industry is
basically a synthesis of agriculture and industry. Many small tea planters are having the difficulty to
afford a factory in their own estates. Though they obtain the raw leaves which are resulted in small
plantation will not be enough to run the economy of a factory. To accomplish a situation, the person
should possess suffice capital. Therefore, tea industry isa very successful regime of industry which is a
big business, and the size distribution is always attracted to larger firms.
REFERENCES