Project Management Assignment: Stages of the Project Lifecycle, Risk Management, Quality Audit

Task 1 (50% marks)

All diagrams and tables should be developed by the student and included in their report. Do not include photos or handwriting drawings.

Q1 there are different segments of project lifecycle, state and explain these stages (8marks)

Q2 What is a scope of a project? (5 marks)

Q3 Elucidate the following cost appraisal methods; NPV, payback period, and IRR. Also, what are the benefits of NPV? (8 marks)

Q4 Explain risk and risk management, and describe the five stages of Risk Management Process (14 marks)

Q5 a) State and describe quality audit in project management

1. b) Why is project evaluation important?
2. c) Monitoring a project is important, explain why?
3. d) Explain project control and why is important, and give a relevant example (15 marks)

You have been contacted by one of the leading construction company in your country to help them prepare a start-up phase report for their new company. Hence, you are required to produce a report which explains a start-up phase of a new business along with how you will manage that project. Specifically, you are to include the concerns, project life cycle stages, processes, leadership, and control problems associated with managing the full lifecycle of this start-up project. You are also to evaluate the project from financial, human resource, and time perspectives along with how you will balance the schedule, budget, quality, and risks to your start-up project. Explain which techniques will be appropriate to utilise during your start-up project and why you will use them.

While there are many issues you may want to include in this report, such as a business model canvas, you must remember that this report is to be written from a project management perspective and needs to focus on project management issues. However, you should include a brief overview of the start-up idea (and any background necessary to evaluate the project) as an appendix.

The answers to both tasks are independent and should be addressed separately.

Task 1 answers to five questions– (800 words) – completed as an individual task

Task 2 a report that is produced for task two (2200 words) – completed as an individual task

For your convenience both tasks should be submitted as one document, which contains both individual tasks. The criteria for assessing the task two report will be:

The extent to which the assignment represents an effective report. This will be judged on:

Appearance: Is a word count included at the end of the report? Is it within the specified amount? Is the text double spaced?

Structure: Does the report follow the conventions of the format? Does it have a clear introduction, explaining how it answers the questions? Do the sections of the report develop ideas in a logical sequence? Are diagrams or other subsidiary information shown in appendices?

Spelling and grammar: Are all words spelled correctly and is the meaning of sentences clear?

Referencing: Have appropriate references been included in the report. Has a recognised referencing system been used for notation? (See relevant section in the Guide to Basic Study Skills)

Has the right theoretical content been chosen as the basis for answering the questions? Is there evidence of the use of course notes and books? Is the theory that is selected significant to the questions?

This measures the extent to which students develop a structured argument for the points they make, by combining relevant theory with the information provided in the questions.

The logical and comprehensive content to address the assignment criteria.

Any work submitted is subject to the University's rules and procedures governing infringement of assessment regulations.

A creative and original response to the question. Critically reflecting on perceived theory and experiences. Wide and appropriate use of sources (theory and practice) based on reading and experiences. Answer written fluently, with evidence of a highly developed capacity to structure work systematically and argue logically.

Comprehensive knowledge of concepts and theories. Appropriate application of theory and experience to the question answered. Ability to inter-relate concepts and ideas. Some originality in approach and awareness of scope and limitations. Answer systematically structured and coherent.

Evidence of knowledge of concepts and theories. Attempts to relate and balance theory and practice. Main issues addressed appropriately. Mainstream texts and lecture notes used. Work presented in a structured form but arguments weak in places.

Evidence of uncritical knowledge of main concepts and theories. Limited attempts to relate theory and practice relaying on personal opinion or assertions. Limited evidence of reading. Presentation and structure weak in several places.

Some knowledge of main concepts and theory but major omissions and / or misunderstandings. Style and structure weak and overly descriptive. Considerable limitations in ability to perceive the relationship of theory and practice. Limited reading.