BSBPMG522 Administer and Monitor Project Assignment Help

BSBPMG522 Administer and Monitor Project Assignment Help

BSBPMG522 Administer and Monitor Project Assignment Help

Max Lionel Reality Case Study

The planned project of Max Lionel Reality has to be implemented with the effective administration and monitoring in accordance with the planned activities and negotiations. For the effective implementation of the project it is essential that the agreed deliverables by the team members are achieved within time, the activities are completed within the defined budget and in accordance with the standards and compliance requirements. Many contingencies arise during the implementation of different stages of project and therefore modifications in the project plan are required to be made in accordance with the renegotiations carried out with the stakeholders.  Throughout the implementation of project the proper records will have to be maintained as per the record keeping requirements of the organization.  These records help in generation of reports from time to time. The reports to be submitted to Operational Manager of Max Lionel Reality include the information about the status of project milestones achieved and the process of financial management and budgetary control techniques used for the project (Hill, 2013).

BSBPMG522 Administer and Monitor Project Assignment Help

Written record of agreement with roles and responsibilities

The written record which specifies the roles and responsibilities of each of the team member is the job specification deliverable issued to the team members by the Operational Manager. The deliverable contains details of the job role to be performed by each team member and the authority and accountability in relation to each task. The document will be signed by the Operational Manager before issuing to the members and the approval of each team member will be received which acknowledges their responsibility to complete the task assigned within time. The agreed roles and responsibilities between the team members and the operational manager include the following:

1. Implementation of financial management processes in accordance with the plan will be required. This will include identification of variety of sources of finance available an assessing their implications. The best suitable source of finance will be selected ad finance arrangements for the project will have to be made through such source of finance.

2. Implementation of budgetary control processes and control techniques will have to be made. The cash budget and functional budget will be prepared for the allocation of cash funds to the operations and help to ensure sufficiency of funds.

3. Monitoring and tracking the status of milestones achieved

4. A person will be responsible to review the compliance of quality standards, legal obligations and REIV obligations.

5. A person will be responsible for maintaining proper records and issuing deliverables and reports to the concerned within time on regular basis. The three status reports will be prepared as per record keeping requirements.

6. The observation of outcomes and the level to which the goals and objectives of the project are achieved need to be recorded and monitored.

Three status reports as per record keeping requirements

In order to monitor and review the record keeping requirements and keeping the track record of stage of completion the three status report is required to be prepared at 25%, 50% and 75% levels. The report will specify the details of records to be kept and their completion level at each of the three stages. This status report will help the operational manager to track the status of documents and deliverables and monitor and administer the project activities accordingly (Heldman, 2015).

Risk management reports

There are various contingencies which arise during the implementation of project. In order to overcome such contingencies the project manager will have to identify the reasons and perform renegotiations with the stakeholders of the project to address the contingencies and mitigate the risk to prevent the losses and threats. The risk management plan includes three stages which are identification of risk, assessment of risk and mitigation of risk. Out of the contingencies arising the risks will have to be identified at first and recorded in the risk register. The impact of risk on the project operations will be evaluated and on the basis of this risk rating shall be assigned. The treatment plan shall be prepared for each risk defining the resources to be used for treatment of risks including risk owner and deadlines and mitigating the impact. In this way the risk management plan will help the operational manager to overcome the contingencies and achieve the project completion within defined timeframes and budgeted expenses (Rowe, 2015).

Draft project deliverables with quality assurance

1. Three status report

Record keeping requirement

At 25% level

At 50% level

At 75% level

Financial Management Plan

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Budget statements

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Budget variances

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Quality standards

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

REIV obligations

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Reports and deliverables

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Milestones

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Timeframes

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Project outcomes and results

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

Not prepared/partly prepared/fully completed

2. Risk Management Plan

a. Risk Register

Risk Ref no

Risk category

Risk description

Risk cause

Risk consequences

Impact

Likelihood

Rating

1

 

 

 

 

 

 

 

2

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

4

 

 

 

 

 

 

 

b. Risk Treatment Plan

Risk ref No.

Treatment Strategy

Treatment description

Treatment resources

Risk owner

Deadline

1

 

 

 

 

 

2

 

 

 

 

 

3

 

 

 

 

 

4

 

 

 

 

 

Final project deliverables

1. Three status report

Record keeping requirement

At 25% level

At 50% level

At 75% level

Financial Management Plan

fully completed

fully completed (modified)

fully completed

Budget statements

partly prepared

fully completed

fully completed

Budget variances

Not prepared

partly prepared

partly prepared

Quality standards

fully completed

fully completed

fully completed

REIV obligations

partly prepared

fully completed

fully completed

Reports and deliverables

partly prepared

partly prepared

partly prepared

Milestones

fully completed

fully completed

fully completed

Timeframes

fully completed

fully completed

fully completed

Project outcomes and results

Not prepared

partly prepared

partly prepared

2. Risk Management Plan

a. Risk Register

Risk Ref no

Risk category

Risk description

Risk cause

Risk consequences

Impact

Likelihood

Rating

1

Financial

The budget is required to be increased

The actual costs are high

Project cannot be implemented fully as per the client needs

Major

Possible

High

2

Security

Leakage of confidential data about  MLR

Hacking

Loss of reputation of MLR

Moderate

Likely

Medium

3

Legal

Violation of REIV obligations

Missing the guidelines or wring interpretation

Imposed penalty or compensation

Catastrophic

Rare

High

4

Safety

Injury to audience

Overcrowding

Wounds and pain

Major

Possible

Medium

b. Risk Treatment Plan

Risk ref No.

Treatment Strategy

Treatment description

Treatment resources

Risk owner

Deadline

1

Project crashing and rationing

Alternatives of high cost resources will be used

Financial techniques such as budgetary control, variance analysis, work breakdown structure etc.

Finance manager

10 days

2

Data security controls

Installing password protection and authorization controls

Internet and security software

IT Manager

5 days

3

Ensure proper compliance

Properly understanding the guidelines and provisions of REIV Code of Conduct

REIV Code of Conduct deliverable

Legal Manager

1 month

4

First aid and medical treatment

The medical aid will be provided to cure the wounds and relieve pain

Medical practitioners and trained volunteers

Operational manager

On spot

References

Hill, G.M. 2013, The complete project management office handbook, CRC Press.

Heldman, K. 2015, PMP: Project Management Professional Exam Study Guide: Updated for the 2015 Exam, John Wiley & Sons.

Schwalbe, K. 2015, Information technology project management, Cengage Learning.

Rowe, S.F. 2015, Project management for small projects, Management Concepts Inc..

Walker, A. 2015, Project management in construction, John Wiley & Sons.