GROUP 4: PROJECT MANAGEMENT EXECUTION; EXECUTION AND BUSINESS

PLAN, PROJECT MANAGEMENT

Group Members:
Jhon Ariel Villaruel
Cracile Brillo
Karyl Anne Abool

What is Project Management Execution?

The execution phase in project management involves carrying out the details of your
project charter, in order to deliver your products or services to your clients or internal
stakeholders. First comes project planning, then comes project execution.
No matter how well you plan, your project won’t be successful unless you can effectively
implement your ideas. They say no plan survives contact with the enemy. They also say no Gantt
chart survives contact with reality. This doesn’t mean ripping up your project plan and starting
from scratch. But it does mean creating a plan that’s flexible enough to withstand client
concerns, operational glitches and other unseen issues.
The project execution phase can be where teams find the most difficulties, even after
effective planning has taken place. That’s why it’s essential that this stage is managed correctly.

Execution Gaps.
Execution gaps are the bits of daylight between your original plans which could
potentially grow into huge divides as you approach deadlines or milestones. There could be any
number of reasons why execution gaps begin to widen as a project rolls on.

Project alignment.
Without clear definition and direction outlined in your project charter, there could be real
issues, or just general confusion, before everyone can get on the same page. Take steps to
effectively communicate your process and gather all the relevant stakeholders and hold a
meeting to officially kick off the execution phase. This will allow you can run through the plan
and get feedback from everyone involved. Not only can this help ensure everyone knows their
role within the process, it also refreshes the original project aims and objectives in everyone’s
minds.

Scope creep. Uncontrolled changes beyond your original plan

Every project involves an amount of iteration and adaptation when the goal posts move
slightly. Sticking rigidly to the plan can be one of the main causes of an execution gap if your
plan doesn’t account for these changes. However, too many change requests can alter the
parameters of the original brief, leaving you with more to achieve in the same amount of time —
or less. Keeping track of where changes have been made and how this will affect resource,
capacity and deadlines is essential to avoid too much disruption to your original plans.

Team transition and flexibility.

When delegating the project to another team to continue with, you’d hope the transition
goes smoothly and perfectly to plan. But there could be any number of reasons why this doesn’t
end up being the case. You may find your project scheduled benefits from baked-in contingency
time, to cover potential time-sinks like team onboarding, status updates and even illness. Take all
these into account and ensure that timelines are adapted accordingly.
PARTS OF PROJECT EXECUTION.

Project execution typically involves three primary components:

-Following processes
-Managing people
-Distributing information

Following processes.
During the planning phase of project management, you should have outlined systems and
procedures to help finish your project within your organization’s requirements. For example, you
might have created processes to interact with third-party vendors who supply essential raw
materials.
Sticking to your processes can help ensure your project proceeds efficiently. Rather than
making a series of time-consuming, one-off decisions, you can look to your plan for guidance
and move ahead with confidence.
However, if circumstances or market forces change, don’t be afraid to reevaluate and
adjust course. Stubbornly sticking to a plan when a change is warranted can jeopardize your
entire project and is one of the main causes of project plans failing.
One way to avoid this is scheduling in regular project check-ins with relevant team leaders
within your project. Give everyone a chance to air any issues they’re encountering within their
teams and you’ll have a much clearer picture of where things have changed – avoiding a domino
effect of projects being disrupted by one another.

Managing people.
Making sure your personnel are following the project plan is essential, but keeping
people on task is not your only job. It’s important that you also motivate, encourage, and cheer
the team on.
Pausing to celebrate each incremental victory is one way to show the team how much you
value them, and it will inspire them to keep up the hard work. Likewise, creating an environment
where feedback and critique are welcomed by everyone is important for overall team morale.

Distributing information to stakeholders and clients.

Involve your clients and stakeholders throughout the execution phase of the project. When
you manage stakeholders correctly, you can prevent costly misunderstandings and delays.

The project execution phase may be the most extensive phase of the project life cycle but
avoid the urge to minimize communications while you execute. Instead of disappearing for
weeks or months while you create the final product, encourage open communication and
transparency all along the way.

Tips for successful project execution.

In addition to the above suggestions regarding processes, personnel management, and

communication, these additional tips will ensure your project execution phase is a success.

 Assign clear responsibilities and accountabilities to your team members.

 Explain the rationale and motivation behind your decisions to get buy-in from your team.
  When you experience a setback, own your mistakes, and implement course corrections as
needed.

Make project execution a priority.

Executing your plan might sound like the easy part, considering all the work that went into
the planning phase. The truth is that successfully finishing a complex project takes conscious,
consistent effort. A work management platform can centralize all communication, collaboration,
and project details into one intuitive space. Meaning you can always see at a glance how much
progress you’ve made, what the next best steps are, and how far you have left to go.

WHAT IS EXECUTION PLANNING?

Execution planning, also called project management planning, involves creating a

strategy for new projects. It's one of the first stages in project management. During this stage,
project managers and team members take an initial idea and create a written execution plan. It
occurs after
the project initiation stage, where team members think of new designs and projects, and before
the execution stage, where team members complete the planned tasks. For example, in a
production company, an execution plan may involve the initial product design, the budget and
the communication plan. During this stage of the project, team members determine their goals,
schedule, costs and responsibilities. After planning these components, the project can move into
the execution stage, where the production team builds the items.

Importance of execution planning

Execution planning is an essential part of managing a project. This step allows project
managers and teams to create methods and strategies before the execution phase of the project
begins. A strong execution plan may have the following benefits:

Helps teams establish and meet objectives

Through execution planning, project teams can establish objectives. These include large
project goals as well as smaller milestones throughout the project. For example, when a
construction team creates a project management plan, their final goal might be to complete the
building project by a certain date
Setting clear objectives and milestones may help teams meet their goals. They can use
these objectives to measure their performance and make adjustments if necessary. This may help
them succeed.

Increases efficiency
Execution planning can help project managers improve overall efficiency. An execution
plan includes a cost budget, staff plan and communication strategy. These tools can help teams
reduce costs and improve their collaboration techniques, which can increase productivity.

Minimizes risks
Part of an execution plan is a risk assessment. During this step, team members identify
potential project risks, analyze the impact the risks could have and determine how likely the risks
are. Project managers can use this assessment to create a risk management strategy, which can
help them minimize their potential challenges.
Improves communication
During the execution planning process, project team members and stakeholders
collaborate to create a strategy for the methods. Professionals can give feedback and ask
questions to improve the plan. Also, during this stage, the team creates a communication plan.

WHAT TO INCLUDE IN A PROJECT EXECUTION PLAN?

You can customize a project execution plan to meet your project's individual needs.
Common elements to include on a project execution plan may include:

Project scope: The project scope, also called the scope plan or scope statement, describes what
the team hopes to accomplish during the project in specific terms. For example, if a team wants
to improve its sales revenue, the scope may specify that the team plans to increase phone sales by
10% in the next year.

Goals: The goals section describes the primary objectives, milestones and measurements.It
includes both long-term goals and short-term milestones the team plans to track and measure
throughout the project.

Resource plan: In the resource section, team members list the resources they will need to
complete the project. They may also plan for sources or suppliers to gain these resources.

Staffing plan: The staffing plan lists the team members involved in the project, their role and
their contact information. It may also contain information on what task each team member is
responsible for.

Budget: The budget includes detailed cost information for each step in the project. It may also
contain information on funding and investments to help project managers allocate their income
sources.
Project schedule: The project schedule shows when the team plans to accomplish individual
tasks or milestones. It may also contain information about team meetings and when progress
updates are due.

Communication plan: In the communication plan, the project manager can state when and how
often the team will communicate with one another and potential stakeholders.

HOW TO CREATE A PROJECT EXECUTION PLAN?

If you're creating a project execution plan, considering following these steps:

1. Discuss background details

The first step in the execution planning stage is discussing the initial ideas and
background details with relevant team members. This may include investors, stakeholders or an
executive board. During this stage, an individual may discuss what the project would include. For
example, in a marketing company, a project manager might suggest a new campaign project.
They might share the details with their managers to determine whether they want to plan the
project.

2. Gather feedback
During the initial planning stage, stakeholders and team members can provide feedback
to adjust the initial idea. For example, if a technology company wants to create a new computer,
stakeholders may ask for more details about the project. They may also offer suggestions, such
as advising the company to make a faster or more energy-efficient computer.

3. Establish the final objective

Before writing the specific milestones and resource plans, it may be helpful to think of
the final objective. Consider collaborating with your team to define your desired end result. You
can use this idea to plan backward by dividing the large goal into smaller steps. For example, if
your goal is to improve workplace communication, you can use this goal to create specific
measurements and milestones, such as introducing a new instant messaging software.

4. Choose team members

Next, you can create a list of team members who may work on the project. Think about all
the professionals you may need to complete your objectives. For example, if you are managing a
production project, you may collaborate with a design team, research professionals, a materials
engineer and a financing team.
During this stage, you can collect the team member's contact information to help improve
communication. Also, you can assign a project title for each person.

5. Determine milestones and objectives

After creating individual tasks for team members, consider how you plan to measure and
track your team's successes. Think about the sections within your project. For example, when
designing a marketing campaign project, your milestones may include creating a website, adding
a logo and graphics and writing website content.

6. Create the project schedule

Using your list of milestones, you can create a project schedule. Consider when you expect
your team members to complete each milestone. This can help you create deadlines for certain
tasks, which can help you complete the entire project on time.

7. Create a budget
A budget is an important financial tool that can help you manage and plan for your
project's expenses. To create a budget, first, consider the funding resources. Then consider all the
costs you may encounter during the project. Consider materials, equipment, marketing tools and
hourly wages. Try to match each cost with a funding source to ensure you can meet all the
expenses.

8. Divide and designate tasks

Try to divide tasks into small components, and delegate or assign them to your team
members. Consider who will be responsible for each task. By making a plan for each team
member, you can help improve efficiency and your team's productivity.

9. Evaluate risks
In the risk assessment, you can help plan to reduce challenges before they occur. To assess
risk, consider the potential hazards or challenges your team may face during the project. Then
consider which risks are the most important or which ones would have the greatest impact on
your project. If possible, create a plan to help you remove the risk. For example, if a potential
risk is that team members may not communicate effectively, you can help remove this risk by
creating a strong communication plan.
If you cannot avoid the risk, try to create a strategy to help you reduce the overall impact of
the risk. For example, in a construction project, one risk may be that the weather could affect the
building stage. You can help plan for this risk by adjusting the project deadline or creating a plan
for different weather patterns.
10. Plan next steps and communication strategy
Toward the end of your execution planning, you can describe the overall communication
plan. This includes how team members will communicate with one another regarding the project.
Also, consider how teams will communicate. You may choose in-person meetings, phone calls,
daily emails or monthly progress reports.

Business Plan

What is a Business Plan?

A Business Plan is a document in which a business opportunity, or a business already

under way, is identified, described and analyzed, examining its technical, economic and financial
feasibility. The Plan develops all of the procedures and strategies necessary in order to convert
the business opportunity into an actual business project.

It is an indispensable tool in order to start up a business project, independently of the size

of the project and/or of the amount of business experience of the entrepreneur.

Your business plan will typically include the following:

Business description—What do you plan to do; why are you starting the venture?

Market analysis—Who will be your customers; what do they want from you?

Competitor assessment—Who will you compete against; what do these competitors offer?

Marketing plan—How will you reach your customers?

Operating plan—How do you plan to implement your idea?

Financial plan—How much money will it cost, and where will you get the necessary funds?

Executive summary—What are the fundamentals of the venture?

A Business Plan has a dual function:

Management Tool

Planning Tool

SIGNIFICANCE OF WRITING THE BUSINESS PLAN/PROJECT PROPOSAL

Business Plan is a formal documentation which contains the set of business goals which are
attainable for the business. It can be regarded as significant because of the following reasons:
 1. Helps in Setting Objectives for Managers
2. Managing Workforce
3. Creating a New Business
4. Providing Credibility
5. Makes Prospects Familiar

Elements of a Business Plan

Section 1. Business Description- This section should introduce your business and its objectives,
with a mission statement to communicate the business's purpose to readers of your business plan.

Section 2. Market Analysis- This section details the market, target customer profile,
competition, and strategies to gain an advantage for a successful venture.

Section 3. Competitor Assessment- In your market analysis, thoroughly review your

competitors, as they may have similar products or functions, and established businesses may not
take your entry lightly.

Section 4. Marketing Plan- Marketing plans typically focus on four key areas: product
offerings, pricing, distribution system, and promotional strategies.

Section 5. Operating Plan- The operating plan outlines the internal organizational structure,
operations, equipment, ownership and management, personnel and resource needs, and legal
issues for the venture.

Section 6. Financial Plan- The financial plan is crucial for evaluating investment opportunities
and estimating profit potential. It should describe current financial status, forecast future
statements, and cover financing type, repayment terms, and potential return on investment. The
plan must be thorough for potential investors, lenders, and partners to evaluate the venture's
financial management.

Section 7. Executive Summary- The executive summary is a concise summary of your venture,
aiming to fit on one page.

Project Management

What is a Project?
A project is “a unique endeavor to produce a set of deliverables within clearly specified time,
cost and quality constraints”.

Projects are different from standard business operational activities as they:

▪ Are unique in nature. They do not involve repetitive processes. Every project undertaken is
different from the last, whereas operational activities often involve undertaking repetitive
(identical) processes.

▪ Have a defined timescale. Projects have a clearly specified start and end date within which the
deliverables must be produced to meet a specified customer requirement.

▪ Have an approved budget. Projects are allocated a level of financial expenditure within which
the deliverables must be produced to meet a specified customer requirement.

▪ Have limited resources. At the start of a project an agreed amount of labor, equipment and
materials is allocated to the project.

▪ Involve an element of risk. Projects entail a level of uncertainty and therefore carry business
risk.

What is Project Management?

“Project Management is the skills, tools and management processes required to undertake a
project successfully”.

Project Management comprises:

▪ A set of skills. Specialist knowledge, skills and experience are required to reduce the level of
risk within a project and thereby enhance its likelihood of success.

▪ A suite of tools. Various types of tools are used by project managers to improve their chances of
success. Examples include document templates, registers, planning software, modeling software,
audit checklists and review forms.

▪ A series of processes. Various management techniques and processes are required to monitor
and control time, cost, quality and scope on projects. Examples include time management, cost
management, quality management, change management, risk management and issue
management.

 The Project Lifecycle consists of four phases:

1. Project Initiation

The Initiation Phase is the first phase in the project. In this phase a business problem (or
opportunity) is identified and a business case which provides various solution options is defined.

2. Project Planning
 It is where the benefits and costs of the project have been clearly documented, the
objectives and scope have been defined, the project team has been appointed and a formal project
office environment established.

3. Project Execution

This phase involves the execution of each activity and task listed in the Project Plan.
While the activities and tasks are being executed, a series of management processes are
undertaken to monitor and control the deliverables being output by the project.

4. Project Closure

Project Closure involves releasing the final deliverables to the customer, handing over
project documentation, terminating supplier contracts, releasing project resources and
communicating the closure of the project to all stakeholders.

 The following sections provide a more detailed description of each phase and list
document templates which provide the Project Manager with guidance on how to
complete each phase successfully.

2.1 Initiation

The initiation phase essentially involves the project ‘start-up’. It is the phase within
which the business problem or opportunity is identified, the solution is agreed, a project formed
to produce the solution and a project team appointed.

The following diagram depicts the activities undertaken:

 Develop Business Case- Once a business problem or opportunity has been identified, a
Business Case is prepared.
 Perform Feasibility Study- The purpose is to assess the likelihood of a particular
solution option’s achieving the benefits outlined in the Business Case.
 Establish Project Charter- After the solution has been agreed and funding allocated, a
project is formed.
 Appoint Project Team- The Project Manager documents a detailed Job Description for
each project role and appoints a human resource to each role based on his/her relevant
skills and experience.
 Set up Project Office- The Project Office is the physical environment within which the
team will be based. Regardless of the location, a successful project office environment
will comprise the following components:
 Location (either physical or virtual)
 Communications (telephones, computer network, email, internet access,
file storage, database storage and backup facilities)
 Documentation (methodology, processes, forms and registers)
 Tools (for accounting, project planning and risk modeling).
  Perform Phase Review- This is basically a checkpoint to ensure that the project has
achieved its stated objectives as planned.

2.2 Planning

Once the scope of the project has been defined in the Project Charter, the project enters
the detailed planning phase. This involves the creation of a:

▪ Project Plan (outlining the activities, tasks, dependencies and timeframes)

▪ Resource Plan (listing the labor, equipment and materials required)

▪ Financial Plan (identifying the labor, equipment and materials costs)

▪ Quality Plan (providing quality targets, assurance and control measures)

▪ Risk Plan (highlighting potential risks and actions taken to mitigate them)

▪ Acceptance Plan (listing the criteria to be met to gain customer acceptance)

▪ Communications Plan (listing the information needed to inform stakeholders)

▪ Procurement Plan (identifying products to be sourced from external suppliers)

▪ Contract Suppliers (associating the role of the supplier and the expectations for his/her
delivery)

▪ Perform Phase Review (checkpoint to ensure that the project has achieved its stated objectives
as planned).

2.3 Execution

The Execution phase is typically the longest phase of the project (in terms of duration). It
is the phase within which the deliverables are physically constructed and presented to the
customer for acceptance.

 An overview of each management process follows:

1. Time Management- is the process within which time spent by staff undertaking project tasks
is recorded against the project.

2. Cost Management- is the process by which costs (or expenses) incurred on the project are
formally identified, approved and paid.

3. Quality Management- is the process by which the quality of the deliverables is assured and
controlled for the project, using Quality Assurance and Quality Control techniques.

4. Change Management- is the process by which changes to the project’s scope, deliverables,
timescales or resources are formally defined, evaluated and approved prior to implementation.

5. Risk Management- A project risk may be identified at any stage of the project by completing
a Risk Form and recording the relevant risk details within the Risk Register.
6. Issue Management- is the method by which issues currently affecting the ability of the
project to produce the required deliverable are formally managed.

7. Procurement Management- is the process by which product is sourced from an external

supplier. The status of the purchase is then tracked using a Procurement Register until the
product has been delivered and accepted by the project team.

8. Acceptance Management- is the process by which deliverables produced by the project are
reviewed and accepted by the customer as meeting his/her specific requirements. The Acceptance
Form describes the criteria from which the deliverable has been produced and the level of
satisfaction of each criterion listed.

9. Communications Management- is the process by which formal communications messages

are identified, created, reviewed and communicated within a project.

2.4 Closure

Project Closure is the last phase in the project and must be conducted formally so that the
business benefits delivered by the project are fully realized by the customer.

Example:

▪ Assessing whether the project completion criteria have been met?

▪ Did it achieve the objectives outlined in the Project Charter?

▪ Was it delivered within the schedule outlined in the Project Plan?

▪ Was it delivered within the budget outlined in the Financial Plan?

Business Name: ProEquip Services

Business Description:
ProEquip Services is your trusted partner in the construction industry, offering top-notch
Construction Equipment Rental, Repair, and Maintenance solutions. With a relentless
commitment to excellence, we empower construction professionals to complete projects
efficiently and safely while minimizing downtime and operational costs.

Our Services:

1. Equipment Rental:
 ProEquip Services provides a comprehensive fleet of construction equipment for
rent, including excavators, bulldozers, loaders, cranes, and more.
 Our rental options are flexible, offering daily, weekly, and monthly rates to
accommodate projects of all sizes and durations.
 All equipment is meticulously maintained, ensuring optimal performance and
reliability on your job site.
2. Equipment Repair:
 Our team of highly skilled technicians is available 24/7 to provide rapid-response
equipment repair services.
 We diagnose and fix issues promptly, minimizing downtime and keeping your
projects on track.
 ProEquip Services is an authorized service center for major equipment brands,
guaranteeing quality repairs using genuine parts.
3. Equipment Maintenance:
 Preventive maintenance is key to extending the lifespan and performance of your
construction equipment.
 We offer comprehensive maintenance packages tailored to your specific needs,
including regular inspections, lubrication, and replacement of wear-and-tear
components.
 Our proactive approach reduces the risk of unexpected breakdowns and costly
repairs.

Why Choose ProEquip Services:

 Reliability: We understand the importance of having dependable equipment on your job

site. Our rigorous maintenance and quality assurance processes ensure that our rental
equipment performs at its best.
 Expertise: Our team consists of experienced technicians who are well-versed in the
intricacies of construction equipment. They are dedicated to keeping your machinery in
top condition.
 Safety: Safety is our top priority. We adhere to the highest industry standards to ensure
that our equipment meets safety regulations, reducing the risk of accidents.
 Cost-Efficiency: We offer competitive pricing for our rental services and cost-effective
maintenance plans. Minimizing downtime through preventive maintenance can save you
money in the long run.
 Customer Support: ProEquip Services is committed to providing excellent customer
support. We are available 24/7 to address your equipment needs and emergencies.

Our Mission:

At ProEquip Services, our mission is to be the partner of choice for construction professionals by
delivering top-quality equipment, timely repairs, and proactive maintenance services. We aim to
contribute to the success of every construction project by ensuring that your equipment is always
ready to perform.

When you choose ProEquip Services, you're choosing a reliable ally in the construction industry,
dedicated to helping you build the future efficiently and safely.

HOW CAN WE RELATE THE EXECUTION PLAN AND PROJECT MANAGEMENT

EXECUTION TO OUR BUSINESS?

In the world of construction equipment rental, repair, and maintenance, our business,
ProEquip Services, seamlessly intertwines with the execution plans and project management
processes of construction projects. We recognize that an effective execution plan is the backbone
of project success, and we are here to ensure that the equipment aspect of that plan is executed
flawlessly.

When project managers and construction teams develop their execution plans, they can
count on ProEquip Services as a reliable partner. Our services align closely with the scheduling
and resource allocation strategies outlined in these plans. We work collaboratively to ensure that
the right equipment is available precisely when needed, eliminating the stress of equipment
procurement delays and last-minute changes.

Additionally, our commitment to equipment repair and maintenance aligns perfectly with
the risk management and cost control aspects of project management execution. We understand
that unexpected breakdowns can wreak havoc on project timelines and budgets. Therefore, we
offer proactive maintenance schedules and rapid response repair services to minimize equipment
downtime, helping projects stay on track and within budget constraints.

ProEquip Services serves as an extension of your execution plan, integrating seamlessly

into the broader project management framework. We enhance your ability to execute projects
efficiently, reduce risks, and achieve your goals with confidence. As your dedicated equipment
partner, we ensure that the equipment-related elements of your execution plan are executed
smoothly, contributing significantly to the overall success of your construction endeavors.