Fundamentals of project management

MN5076 – Fundamentals of Project Management Name Course Professor School Location Date Task 1 – Project Selection Must Objectives Must meet if impacts Proposal 1 Proposal 2 Proposal 3 Proposal 4 Must meet legal, safety, and environmental standards, and comply with University policies. Y = Yes N = No Y Y Y Y Must be aligned with vegan principles. Y = Yes N = No Y Y Y Y Must be capable of raising at least £1000 in funds for the charity. Y = Yes N = No Y Y Y Y Must be completed within the nine weeks in April and May. Y = Yes N = No Y Y Y Y Want Objectives Relative Importance 1 – 100 Single project impact definitions Weighted Score Weighted Score Weighted Score Weighted Score Generates in excess of £1000 for the charity. 90 0: £500 – £750 1: £750 – £1500 2: >£1500 3: >£2000 90 0 180 90 The project is fun to participate in. 30 0 = Not fun 1 = Some fun 2 = Much fun 60 60 60 0 Carbon neutral. 30 0 = No potential 1 = Low potential 2 = High potential 30 60 30 0 Increases public awareness of speciesism, animal suffering, animal welfare, and the vegan lifestyle. 40 0 = No potential 1 = Low potential 2 = High potential 80 80 80 40 Total Weighted Score: 260 220 350 130 Priority 2 3 1 4 Based on the Total weighted score evaluations, the projects should be prioritized as follows: 1 Project Proposal 3 – Sports for the Species 2 Project Proposal 1 – Vegan Bake Sale 3 Project Proposal 2 – Urban Wildlife and Birdwatching Walk 4 Project Proposal 4 – Raffle My Feathers Task 2 – Project Approach With regards to the project at hand, building a hybrid displacement yacht worth £65 million, I advise using the traditional project management approach against the agile methodology. In most large-scale projects, which have predefined requirements, tight deadlines, and big financial spending, the traditional project approach, also called a waterfall model, is preferable. In the case of constructing a custom-built yacht, the traditional approach offers several advantages. The traditional approach offers the advantage of scope clarity and project requirements. Traditional project management is more about detailed planning and documentation before the start, thus making sure all the project requirements are well-defined and shared by all the stakeholders (Larson and Gray, 2014). In a project of this magnitude, with many detailed requirements and high buyer high expectations, defining the scope is of the essence to avoid misunderstanding and scope creep. Unlike the agile project management framework, the traditional project management offers a risk management advantage. It ensures that the project team establishes a comprehensive approach to risk evaluation and risk management strategies to address them at the beginning of the project. Due to the massive investment in finance, precautionary measures for overruns, delays, and quality defects need to be considered in advance. Thirdly, traditional management offers quality assurance, because with the traditional approach, there is a quality assurance concern throughout a project. Flexible testing and validation procedures are in place to ensure that each yacht component has been fabricated as per client needs and adheres to standard regulations. Fourthly, it offers room for client involvement. Ideally, while this traditional method is sometimes criticized for being linear and sequential, it permits ongoing client involvement and feedback at crucial project stages. This ensures that the resulting product matches the client's expectations and vision. Finally, the traditional approach allows project managers to set out their budgets and plans realistically after effective evaluation and estimation. By establishing set targets and checkpoints, project progress can be monitored closely. If any of these targets are not met, measures can quickly be put in place to get the project back on track. Agile while highly popular might not help in the construction of the £65 million yacht. First, regarding scope and requirements, this methodology strives best in projects with high uncertainty. Building a yacht has well-defined procedures from the outset (Marnewick and Marnewick, 2022). Secondly, with reference to complexity and risk, agile methodology perfectly works for projects that can be broken down into smaller and more manageable increments. Building a yacht demands designs, engineering, and manufacturing processes often interconnected and complex, and might not align with the iterative aspects of agile methodology. In summary, with all the complexity, high cost, and specific needs of building a personal yacht with a hybrid displacement system, the traditional project approach provides the structure, discipline, and control necessary for project success, at the same time achieving the client's expectations and minimizing risks. Task 3 – Project Scope Statement Scope Statement for the Parrot Palooza Fundraising Project. ...