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Principles of Project Management 1
Principles of Project Management 1
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6.0 Summary......................................................................................................................................12
7.0 Reference......................................................................................................................................13
Once all guests have departed and the catering firm, music band manager, and venue manager
have gathered their items and received the remaining payment, the project will be considered
complete.
Obtain approval from ABC company 1/10/2022 • The party will start at 7pm and end by
Find a venue 8/10/2022 11pm
Find a music band 23/10/2022 • The Venue, Band and Catering will be
Find a Catering Company 9/11/2022 booked early on
Decoration 20/11/2022 • Only 50 people will be invited to the party
Invite guests 27/11/2022
3.0 Establishing Project Priorities
The ultimate success of a project is typically characterized as achieving or exceeding the
expectations of the client and/or top management with relation to the project's scope
(deliverables), time (schedule), and cost (budget) (Harvard Business Review, 2016).
Completing a project priority matrix (PPM) is one method used in practice for this purpose:
I'll divide the Christmas Party project into six categories: planning, venue, entertainment,
catering, decorations, and invitations to the party. A particular squad will represent each
category. The planning team, however, continues to be the most crucial one because it will be
consulted by the venue team, the entertainment team, the catering team, the decorations team,
and the team in charge of sending out invites to the guests. I'll describe the work bundles in
the work breakdown structure here.
First, I will introduction about a Christmas party for ABC Company. Second, I establish
project scope statement (including, project objectives; product scope description;
deliverables; constraints; milestone; and assumptions.). Third, establishing project priorities
about Christmas party (including, Priorities Matrix). Fourth, create work breakdown structure
for Christmas party. Lastly, create cost estimation for Christmas party.
Harvard Business Review. (2016). The Four Phases of Project Management. Retrieved from:
https://hbr.org/2016/11/the-four-phases-of-project-management
Larson, E. and Gray, C. (2018). Project Management. The Managerial Process. (7th ed.).
New York: McGraw-Hill Irwin.
Nokes, S. (2007). The definitive guide to project management (2nd ed.). Pearson
Pheng, L. S. (2018). Project Scope Management. In Project Management for the Built
Environment (pp. 63-77). Springer, Singapore.
Quizlet Inc. (2019). Estimating Project Times and Cost. Retrieved from:
https://quizlet.com/332571132/ch-5-estimating-project-times-and-cost-flash-cards/
Washington, T. (2019). PPM 101: How to Effectively Use a Priority Matrix. Retrieved from:
https://opentextbc.ca/projectmanagement/chapter/chapter-3-the-project-life-
cyclephases-project-management/
Wilson, M. (2012). Time-Phased Budgeting is Critical for Project Controls. Retrieved from:
http://blog.4castplus.com/blog/time-phased-budgeting-who-needs-time-
phasedbudgeting