A Case Study of Project Management. Essay Example

  • Category:
    Management
  • Document type:
    Case Study
  • Level:
    High School
  • Page:
    2
  • Words:
    1164

A Case Study of Project Management

A Case Study of Project Management.

A Case Study of Project Management

RISK MANAGEMENT

Risk management refers to the step by step application of management practices, procedures and policies in the activities of assessment, analysis, identification, treatment and communication within an organization (Kendrick, 2010, p.109). Improvement in the management requires that management develops insight on potential risks and understands the implication of these risks,as well as measures to curb them.

Risk Management Process.

It is important that the Banzna Finance Incorporated understands that in as much as the takeover venture is attractive, the WFS decision to make a sellout was made majorly due to the disadvantaged operations marked by high bad debts written off and loan defaults, as well as reduced margins. This project, therefore, requires that the systematic cycles of risk management process be strictly adhered to. Initially, identification of the risks and critical analysis of the risks, as well as prioritizing them is paramount(Burke, 2013, p.91). This process further goes on to putting in place effective plans and finally tracking down the progress of each task.

Risk Identification.

The business analyst, through the project manager, should identify potential risks so as to create awareness of possible problems to the operations staff. Risk identification should be initiated at the start of the project, the earliest possible time, and should go on throughout the exercise of the entire project (Andersen et al. 2009, p.63).Important processes such as consolidation of branch infrastructure, migration of data, among other processes should be done with outmost caution.

Risk Analysis.

Risk analysis involves taking the identified risks and using them to make critical decisions pertaining the project. Prudent actions to facilitate risk analysis involve incorporating pilot versions of the proposed financial system(Burke, 2013, p.45). This will help ease implementing the final version of the system. Moreover, assessing elements that might jeopardize the project’s success such as timely procurement of required hardware and software are vital. One of the best strategies to conduct risk analysis is by the use of Facilitated risk analysis process. This method involves analysis of every component of the project at a time. With this categorization in place, the project manager is able to identify controls necessary to mitigate risks.

Risk management planning

Every project manager should draft a document indicating impact estimates, risks foreseen and the various responses to issues arising in the project (Kendrick, 2010, p.36). This forms the basis of risk management planning. Most importantly, risk management planning involves coming up with a project strategy. The project manager has the option of avoiding, accepting, controlling or transferring risks.

RISK MATRIX.

Inevitably the process of planning for risk management involves coming up with matrices.

Likelihood

Mitigation Plan

Refurbishment of Customer Care center takes more than 3 months

Ensuring timely procurement of all the needed infrastructure

Staff take unduly long time to familiarize with the new online financial system

Taking the employees through a through and intensive training program.

Security of the system is compromised

Installing antivirus softwares and monitoring devices is paramount

Some of the business data is not fully migrated into the new financial system

Measures to countercheck and verify data migration should be put in place

Lack of a building to house the customer care center within the desired location

The project manager should make the location for the customer care more open to engage a first come basis.

The system may be too complex for the customers to use

Extensive consultation to ensure the system is user friendly are required.

Lack of compatibility of softwares with the hardware

Proper market research on the proper software for the hardware should be done before procurement.(Andersen et al. 2009, p.147)

Inability of the new system to handle projected increase in clients

Several test runs should be engaged to ensure capability to serve a large number of clients

The outsourced companies fail to deliver as required

A comprehensive contract with stringent terms and conditions.

Underestimated costs of the project

A proper audit of the projections and review of the budget.

Employees from WFS decide not to join Banzna

An attractive pay package of the employees

Existing WBS clients pulling out from the company due to the take over

Proper communication with the existing clients to guarantee them that their interests are safe guarded

QUALITY MANAGEMENT PLAN.

Quality management is a qualitative measure undertaken by project managers to ensure performance consistency through customer focus and effective leadership. There are major approaches to quality management; system approach and process approach. The process approach involves the following:

  1. Planning.

Planning is a systematic process of ensuring that accountability and responsibility is shared out accordingly (Burke, 2013, p.69). This ascertains that the project operates under a predictable and controlled manner.Right from the $A7 million budget to the timeline of the project, proper predictable use of resources and time management should be put into consideration.

  1. Monitoring.

Monitoring involves continually reassessing the plan, design, and implementation of a project(Andersen et al. 2009, p.94). The project manager should, therefore, report to the board required, as a measure to ensure continued accountability

  1. Checking.

Checking entails analyzing current situations and identifying arising issues. The business analyst should ensure the time estimates are met and availability of the required resources.

  1. Reacting.

Principally, reacting is discovering the patterns and trends and coming up with amicable solutions to any arising challenges(Kendrick, 2010, p.88). In this regard, the people resources engaged in the project should each come up with creative ways of solving challenges as they arise.

Project Deliverables

Deliverable Quality Standards

Quality Control Activities

Computer hardware

The hardware should be effectively compatible to the security requirement and network infrastructure

Engaging the hardware engineers to counter check the quality purchased

Computer software

Software should provide the needed database solutions and integration with the network

Engaging the Network Engineer to confirm compatibility of software with the network.

IMPLEMENTATION STRATEGY.

Proper implementation of the project requires that a review of the computer hardware and network infrastructure be carried out in detail. Moreover, proper communication of the expected output and standards from CommWest Constructions Company and also the Banzna’s Technology division, who will be in charge of refurbishment and internal support respectively is paramount. Another critical factor in the implementation strategy is offering the required standards of training to the employees in advance (Burke, 2013, p.73). In addition to this, the implementation strategy also involves careful conversion and migration of data to the new financial system. Finally, performing verification of the final system to check if it is up to the required standards. Extensive data verification will further involve testing and evaluating a pilot version of the new online system.

REFERENCES.

ANDERSEN, E. S., GRUDE, K. V., & HAUG, T. (2009). Goal directed project management

effective techniques and strategies. London, Kogan Page Ltd.

BURKE, R. (2013). Project management techniques, book 2. [Ringwood], Burke Publishing.

KENDRICK, T. (2010). The project management tool kit 100 tips and techniques for getting the

job done right. New York, AMACOM American Management Association. http://public.eblib.com/EBLPublic/PublicView.do?ptiID=515796.