(Source: Created By Author in MS Project)
3.1.3 Final Duration
The project will take around 329 days for accomplishment as assumed to start from 23/01/2016 and will complete on 28/04/2017.
3.2 Delay in the Project: Consequences
The report discusses in this section about the delay in the ACME project. The project is structured for completion within eight weeks time. However, there are certain causes for that the project has the tendency of delay generated in the project. The project delay and their consequences are demonstrated here (Martinsuo 2013).
Consequence 1: More cost and budget requirements
The first and foremost consequence in this scenario is the cost and budget requirements. The delay may be due to a late supply of material in the project.Therefore, the alternative supplier may take extra charges for the urgent delivery of materials.
Consequence 2: Change in project schedule
The project manager is bound to change the project schedule in this changed context. Therefore, the length of the critical path will be longer. The critical path may help the project manager to incorporate the changes, however; the consequence will be to manage the criticality of ACME project (Mastrofini 2013).
Consequence 3: Change of roles and responsibilities
The project manager will have to change and revise the roles and responsibilities of certain project members to reconsider the revised timeline. The project manager has the major role for revising the roles in this project.
Flooding in materials and effect of delay
In a case of flooding of raw materials, the supplier should be instantly replaced with the alternative supplier in the project. The new supplier should provide the materials according to the required specifications, and management decisions. There may be little fringe in time scheduling. However, the project manager will need to revise the time scheduling to consider the alternative resource (Mir and Pinnington 2014). The materials should require testing for effectiveness and the altered completion timeline is required for Gantt chart revision.
3.2 Explanation of the use of Gantt chart and Resource Histogram for Project Management Improvement
The Gantt chart is an elementary part of any project whether the project being small or large; the Gantt chart is the basic requirement of any project to handle the timeline and resource allocation. The histogram is another subsequent part of the project, and it manages the project progress along with resource allocation with separate time constraint and completion time (Randolph 2012). The Gantt chart shows clearly the segmented activities in a chart format with changing working schedule and resource effort calculation. The histogram analyzes the specific activity with proper resource allocation with individual time and progress under a particular period. Both of these resources are essential for handling the project delays and project rescheduling with critical path consideration. In the ACME project, these tools help the project manager to understand the activity priority with timely completion and generation of progress report with activity details.
3.3 Explanation of crashing some activities for Early Completion of Project
The early finish of any project may be performed with either two types of strategy. The first one may be fast tracking, and another one may be crashing some activities. In this scenario, the crashing of activity is discussed with ACME project changes. The crashing is performed for improper yet lengthy activities in the project as well the costly resource employment tasks. For instance, the activity of Design Production Machinery and Build Production Machinery may be included in the project as the single task. In such way, the time should be shortened to 18 weeks. Again, the design building activity and requirements specification tasks may be merged for completion within 12 weeks time. The advertising campaign activity may be performed within two weeks time. In this manner, the total timeline will be shrunk in a smaller schedule (Richman 2012).
3.4 Analysis of Cost and Time performance for the project
The cost and time performance may be measured by analysis Net Present Value and payback period analysis. The NPV analysis is essential to get a better view of present value acquisition in the project after the certain time. The NPV analysis may be performed with certain percentage of 6% rate with the discount factor of (1/1.06) yearly. Again, the payback period analysis determines the time in which the project will provide better revenues to the project employing organization (Richman and Richman 2011). In this context, ACME project should consider both of them to get project performance.
3.5 Change Management in the Project
The change management will be performed with better stakeholder communication process and planning. Within the project life cycle, the project manager should have to consider a major role of revising the roles and responsibilities within stakeholder meeting. The meeting will provide individual role and activity change specification; for instance, if a natural disaster occurs as a certain incident with losing resources, then the project manager will have to accommodate the project completion within time (Rmit.edu.au 2016). Otherwise, the project may require additional cost and budget to complete with more workforces in this context.
3.6 Project Closeout
Project closeout is simple with conducting a meeting with stakeholder sign-out and Post Performance Review meeting. In a case of completion of the building and production line, the stakeholders involved with the construction are signed out from the project. Then the project manager will be conducting PIR meeting for more modification and the completed project performance analysis (Roberts 2011).
3.7 Evaluation of the Completed Project
The assessment of the completed project is performed with PIR meeting with employment project organization. The methods of measuring the performance of a project are may be sure KPIs of the building, the NPV analysis, payback analysis, and ROI analysis. Mainly the PIR document has some factors of completion evaluation, construction evaluation criteria, and authority reviews (Sankaran 2015). Finally, the paper is signed with approval for successful completion of the project.
The project management study is carried out on the application of project management concepts for the preparation of a project for the ACME Products Plc organization to set up a new manufacturing facility and integration of the production in the new facility with the existing factories in other parts of the country. The feedbacks from the stakeholders regarding the outcome were in the positive manner as they were regularly updated about the progress of the project. The active participation of the team members assisted in completing the project within the estimated timeframe and cost.
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