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ICT352 Project Management

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ICT352 Project Management

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Course Code: ICT352
University: University Of The Sunshine Coast

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Country: Australia

Question:

1. Network diagram is one of the important tools in project planning. You are required to construct the network diagram illustrating the backward and forward pass with necessary attributes. You will have to determine and highlight the critical path explaining and evaluating what this indicates and what significant effects it has on the completion of the project.
2. IT Projects have a terrible track record, as reported in a 1995 Standish Group study (CHAOS) found that only 16.2% of IT projects were successful in meeting scope, time, and cost goals; over 31% of IT projects were canceled before completion. Critically discuss the factors why projects fail.
3. Projects success or a failure can be dependent on the kind of projects that are selected. Discuss different selection methods with justification.4. In modern project management, it could be typical to outsource and manage several projects from overseas. Critically discuss how this could be achieved with virtual meetings.

Answer:

Introduction
The implication of the principles of project management is one of the most crucial factors for aligning the utilization of the operations (Turner 2014). The utilization of the functions was helpful for defining the role played by the use of the factors aligning the utilization of the improved information processing for easing the implication of the process. The use of the project management processing would allow the simplification of the applications for aligning the utilization of the innovative technologies for easing the activities. The project management principles was helpful for easing the processes of the installation of the activities. The analysis of the project of “Office Relocation to Clink Street, London” was considered for the report.
The report was based on analysing the process of identifying the required construction project management principles for developing. The project of “Office Relocation to Clink Street, London” was considered for the execution of the processes and installation of the final project report. The first part of the assignment would cover the network diagram and critical path identification for the project by the help of Ms-project file developed for the assignment and Visio for developing the critical path using CPM method. The second part of the assignment was done for identification of project failure factors and explaining the factors. The next part would evaluate the selection of project management methods for the project. The last part of the assignment would deal with the critical analysis of virtual meetings for overseas projects.
The project of “Office Relocation to Clink Street, London” had the critical activities for all the major planning and relocation activities as the elements of critical path. As per the critical path of the project, it is evident that the completion of the project had been effective and supportive of the operations. The critical path of the project runs from the activities of setting up of interview panel, selecting the shifting manager, choosing interview pattern, selecting the shifting team, Planning the execution , Approving the plan, initiating the project, packaging of goods, transportation, Settling of the new office, employee new facility managers in the  new office, employing team under each facility manager, marking attendance of the employees, monitoring their work process, checking the demands of employees, mitigating the ethical issues, and completion of the project.  These critical activity have direct impact on the project schedule because the increase in the duration of the activities would result in increasing the overall duration. The utilization of the functions was helpful for defining the role played by the use of the factors aligning the utilization of the improved information processing for easing the implication of the process.
Identification of Project Failure Factors
According to Sage, Dainty and Brookes (2014), the IT projects have a long lasting history of facing failure due to many factors including shortage of time or resource, unskilled labours, and system failure. The information installation was explicitly developed for resulting in developing the major setback for the execution of the project operations. The main reasons for the failure of the projects include the probable issues of shortage of time or resource, unskilled labours, and system failure. The study helped in realizing the following facts related to the project management and failure,

Almost 31.1% of the projects have been failed even before the starting of the project
Many projects (almost 52.7%) have been estimated wrong and it took over 189% of the estimated budget for achieving the project budget
It has also been shown that the state government had taken a toll of $81 billion on the cancelled IT projects.
The average of the projects that were completed on time and within estimated budget was only limited to 16.2%
4% of the IT projects have been limited to the 74% of the actual project functions and installation

Shortage of Time or Resource: The shortage of time and resources are the major factors aligning the issues of developing the final execution of the processes. The lack of resources aligning the execution of the project operations would form the factors aligning the major setback for the formation of the project. The project of “Office Relocation to Clink Street, London” would result in developing the major issues in execution of the project activities for aligning the operations of the project execution. The major deliverable for the project installation would result in listing the formation of the operations. The delay in completion of the report would result in developing the major issues for developing the factors aligning the utilization of the improved factors. Some more issues of shortage of budget are another factor that can form the impact on the execution of the project installation. The installation was effective for listing the involvement of the operations developing the increment of the operations. The resource lacking would result in developing the major formation issues.
Unskilled Labours: The presence of unskilled labours would also result in developing major fallouts for the execution of the project installation. The labour skills are also a major factor causing the impact on the progress of the improved operations. The labours was facing the installation of the operations taking care of the activities and listing the involvement of the operations developing the installation of the activities for easing the flow of operations. The unskilled labours would result in delaying the activities and implying the issues of late execution. The unskilled labours was responsible for not making the installation of the operations delayed for trapping the significant installation of the operations.
System Failure: The system failure is a major factor resulting in developing the issues in developing the installation of the operations. The failure of the system installation would result in developing the major installation issues in developing the operations. The failure of the system would result in developing the setback for the IT project installation. The analysis would allow the utilization of the improved functions for taking care of the operations and developing the major issues in aligning the operations for the organization. The failure of the system would result in developing the systematic issues for continuation of the operations.
Hence, as per the study of Wang et al. (2018), these issues have resulted in developing the issues of execution and installation of the operations. The completion of the project has been subjected for the deployment of effective activities that would help in making sure that the activities are aligned cohesively. The study would also align the utilization of the operations so that the functions would form the utilization of the activities. (), have also stated that the implication of the smart project management would involve the implication of the effective and smart implication management. The enlisting of the project operation model would form the significant modification of the functions.
Selection of Project Management Methods
The project management methods was explicitly deployed for developing the successful evaluation of the project management methods (Rui et al. 2016). The installation of the operations would significantly allow the analysis of the operations for taking care of the actions aligning the selection of the project. The utilization of the functions was helpful for defining the role played by the use of the factors aligning the utilization of the improved information processing for easing the implication of the process. The use of the project management processing would allow the simplification of the applications for aligning the utilization of the innovative technologies for easing the activities. The project management principles was helpful for easing the processes of the installation of the activities. The selection of the project was based on the factors of defining the analysis of the factors for involving the utilization of the factors depicting the role of value analysis using NPV, ROI, and Payback Period. These are the economic benefits of the project operations aligning for listing the involvement of the smart processing installation (Cooper and Sommer 2018). The following section would highlight the inclusion of the operations supporting the influence of the tools for selection of activities and defining the role for influencing the operations,
NPV: NPV or net present value is the method of evaluating the value of project in terms of the cost. The project installation was explicitly deployed for easing the formation of the refurbished project report (Cooper and Sommer 2018). The installation of the activities would result in listing the taking care of the functions supporting the implication of the operations. The NPV is an effective method of developing the analysis for the project. The project evaluation comprise of onetime cost, monthly expenses (recurring and non-recurring), economic benefit, and discounting factors. The project life was considered for evaluating the factors of using the implication of the effective and improved analysis process. The NPV analysis is done based on the formation of the activities resulting in calculating the net economic benefit of the project. The NPV is calculated by considering the sum of net incomes from the project and subtracting the net expenses of the project for the lifetime of the project.
ROI: ROI is developed considering the return calculation for the project and it is termed as return on investments (Kaiser, El Arbi and Ahlemann 2015). A project comprise of onetime cost, monthly expenses (recurring and non-recurring), economic benefit, and discounting factors. The project life was considered for evaluating the factors of using the implication of the effective and improved analysis process. The project installation was explicitly deployed for easing the formation of the refurbished project report. The installation of the activities would result in listing the taking care of the functions supporting the implication of the operations. The ROI is calculated for finding out the returns on the investment for each period of time. The period of time for evaluation can be monthly, annually, half yearly or specific years. The ROI would help in calculating the returns or the economic benefits that the project gets with the passage of time.
Payback: The payback of project is an evaluation of the time for which the project investments can be gained (Bentahar and Cameron 2015). The project involves various costs like onetime cost, recurring monthly costs, and annual costs. The project life was considered for evaluating the factors of using the implication of the effective and improved analysis process. The project installation was explicitly deployed for easing the formation of the refurbished project report. Specific rate of return can be calculated by evaluating the incomes and expenses ratio. The payback period would also allow the simplification of the factors defining the support and installation for the project. The proper definition of payback period is that it is the time required for getting nil NPV (all incomes and expenses are equal in values) for a definite rate of discount or discounting factor.
These three economic tools can be used for defining the implication of the factors aligning the utilization of the information processing. It would allow the simplification of the project completion using the significant evaluation of the project installation. The benefits from the project would evaluate the formation of the factors aligning the simplification of the functions. These tools would result in listing the final project evaluation installation for the project.
Critical Analysis of Virtual Meetings for Overseas Projects
The virtual meetings are done using the help of telecommunication and IOT devices for easing the information transfer and significant formation of the activities. The virtual meetings are developed for significantly allowing the formation of the operations. The use of the IOT devices would help in easing the meetings via voice or video conference (Lindeblad et al. 2016). The implication of the successive information installation would ease the utilization of the probable installation processing. The installation of the factors would take care of the effective utilization of the functions. The virtual meetings ensure that the requirements and the progress of the project are conveyed to the installation of the factors aligning the influence of the effective progress installation. The information processing would develop the implication of the factors developing the information requirements by the stakeholders of the project. The benefits of using the virtual meetings are that no time boundary for the execution of the project activities. The virtual meetings can result in listing the utilization of the formation processing.
On the contrary the formation of the virtual meetings was evaluated on the negative impacts in the formation of the functions listing the evaluation of the facts aligning the simplification of the activities. The major issues in the execution of the virtual meetings are the dependency on the systems and equipments (Arnfalk et al. 2016). It is highly possible that the execution of the project would tend to result in listing the formation of the factors defining the issues for proper information transfer. It is also possible that the factor aligning the project execution might result in developing delay or tampering issue. The misuse of the information transferred over the IOT device is also a major factor that can hinder the benefits of virtual meetings. Moreover, the slog in video buffering would also result in developing the issue of the project execution.
Conclusion
It can be concluded from the assignment that the use of the project management operations had been helpful for making the report. The utilization of the functions had been helpful for defining the role played by the use of the factors aligning the utilization of the improved information processing for easing the implication of the process. The use of the project management processing had allowed the simplification of the applications for aligning the utilization of the innovative technologies for easing the activities. The project management principles had been helpful for easing the processes of the installation of the activities.  The project of “Office Relocation to Clink Street, London” had been considered for the execution of the processes and installation of the final project report. The first part of the assignment had covered the network diagram and critical path identification for the project by the help of Ms-project file developed for the assignment and Visio for developing the critical path using CPM method. The second part of the assignment had been done for identification of project failure factors and explaining the factors. The next part had evaluated the selection of project management methods for the project. The last part of the assignment had dealt with the critical analysis of virtual meetings for overseas projects.
Bibliography
Arnfalk, P., Pilerot, U., Schillander, P. and Grönvall, P., 2016. Green IT in practice: virtual meetings in Swedish public agencies. Journal of Cleaner Production, 123, pp.101-112.
Bentahar, O. and Cameron, R., 2015. Design and Implementation of a Mixed Method Research Study in Project Management. Electronic Journal of Business Research Methods, 13(1).
Bronte-Stewart, M., 2015. Beyond the iron triangle: Evaluating aspects of success and failure using a project status model. Computing & Information Systems, 19(2), pp.19-36.
Cooper, R.G. and Sommer, A.F., 2018. Agile–Stage-Gate for Manufacturers: Changing the Way New Products Are Developed Integrating Agile project management methods into a Stage-Gate system offers both opportunities and challenges. Research-Technology Management, 61(2), pp.17-26.
Fleming, Q.W. and Koppelman, J.M., 2016, December. Earned value project management. Project Management Institute.
Hornstein, H.A., 2015. The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), pp.291-298.
Jacobs, F.R., Chase, R.B. and Lummus, R.R., 2014. Operations and supply chain management (pp. 533-535). New York, NY: McGraw-Hill/Irwin.
Joslin, R. and Müller, R., 2015. Relationships between a project management methodology and project success in different project governance contexts. International Journal of Project Management, 33(6), pp.1377-1392.
Kaiser, M.G., El Arbi, F. and Ahlemann, F., 2015. Successful project portfolio management beyond project selection techniques: Understanding the role of structural installation. International Journal of Project Management, 33(1), pp.126-139.
Kerzner, H. and Kerzner, H.R., 2017. Project management: a systems approach to planning, scheduling, and controlling. John Wiley & Sons.
Kirkland, C.E., 2015. Effective Complex Project Management: An Adaptive Agile Framework for Delivering Business Value. Project Management Journal, 46(5), pp.e3-e3.
Lindeblad, P.A., Voytenko, Y., Mont, O. and Arnfalk, P., 2016. Organisational effects of virtual meetings. Journal of Cleaner Production, 123, pp.113-123.
Mir, F.A. and Pinnington, A.H., 2014. Exploring the value of project management: linking project management performance and project success. International journal of project management, 32(2), pp.202-217.
Nguyen, T.P. and Chileshe, N., 2015. Revisiting the construction project failure factors in Vietnam. Built Environment Project and Asset Management, 5(4), pp.398-416.
Nicholas, J.M. and Steyn, H., 2017. Project management for engineering, business and technology. Routledge.
Rui, X.U.E., Baron, C., Esteban, P. and Zheng, L., 2016. Integrating the ISO/IEC 15288 Systems Engineering Standard with the PMBoK Project Management Guide to Optimize the Management of Engineering Projects. In Complex Systems Design & Management (pp. 291-291). Springer, Cham.
Sage, D., Dainty, A. and Brookes, N., 2014. A critical argument in favor of theoretical pluralism: Project failure and the many and varied limitations of project management. International journal of project management, 32(4), pp.544-555.
Svejvig, P. and Andersen, P., 2015. Rethinking project management: A structured literature review with a critical look at the brave new world. International Journal of Project Management, 33(2), pp.278-290.
Turner, J.R., 2014. Handbook of project-based management(Vol. 92). New York, NY: McGraw-hill.
Wang, W., Wang, B., Yang, K., Yang, C., Yuan, W. and Song, S., 2018. When Project Commitment Leads to Learning from Failure: The Roles of Perceived Shame and Personal Control. Frontiers in Psychology, 9, p.86.

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