Contemporary Project Management Paper Editing Services

Contemporary Project Management Paper Editing Services

Introduction

this Contemporary Project Management Assignment Help describe civil construction is capital intensive project and requires considerable skills in managing such projects professionally to avoid time and cost overruns. Apartments under civil construction are ultramodern & luxurious properties which provide multi-bed room service apartment to the customer. The location is very convenient for all segments of the customers --- for office as well as business or leisure oriented customers. The project report provides the various aspects of building apartment and takes into count the other aspects like risk management associated with the enterprise in the civil construction domain. This plan also deals with change management, business communication plan and the chores related with project closure.

1. Project charter

1.1 Scope overview

The apartment construction project commences with the approval of Scope of Work (SOW). The project scope overviews the chief apart requirements and affixes the boundary line. (Kloppenborg, 2015). The project would endeavor to undertake apartment building having ten individual double bed rooms at level 1 building A into 5 semi luxury apartments.

Work Breakdown Structure and Gantt chart

Gantt Chart:

Risk Management

In the construction process like the one in the context of building the apartments, there are several risks involved. The risks in this context are related to the enterprise wide risk management and not just a specific area of the project. Enterprise risk Management (ERM) is a “process, effected by an entity's board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.” (COSO, 2004).

Organizational design is one of the key implementation factors for ERM. The objects and goals of the business, organizational strategies, key business aims and strategies are all taken in to account to develop and implement the Enterprise wide risk management policy. The enterprise wide objects drilled down to the department levels are evolved in an attempt to formulate the risk management and mitigation policy. Usually the risks and uncertainties are encountered by the departments, in their day to day operations, so the department must be aware of such risk management strategies, so that those could be effectively managed at their levels. Therefore, another object towards implementation of ERM is to assign the roles and responsibilities to the organizational managers and team leads and all the managers must be aligned towards the enterprise wide customer strategy. (Thomson Reuters White Paper, 2014)

Establishing ERM organization is another key implementation factor at Thomson Reuters. Here, the object is to determine the organizational structure and strategy towards its risk philosophy, whereby, it is determined that what type of risks organization it is prepared to adopt, as per the risk appetite of the organization. The risk culture prevalent in similar organizations is also surveyed and the risk undertaking capabilities are identified accordingly. Alongside determining this risk philosophy, the organization also decides its ethical and integrity values. For instance, the organization may strictly adopt not to take up those activities or business which has a high risk attached in the interests of its stakeholders or shareholders. Based on this groundwork, the organization builds its ERM organization, which may have a depth up to four levels or more, starting from VP or Chief Risk Officer, ERM Director, risk managers and staff. This is so important and vital for a construction enterprise to survive and flourish.

Change Management

At times the project cannot go ahead unless and until some changes are made to the original plan. For instance, the exigencies arise, so that the major portion of the interview structure needs to be changed by the management. This will require changes in the schedules. Again, these type of changes can be coordinated and controlled with the help of a Change Management Software.

1. A change is requested and logged through the Change Management Form
2. The change is approved by the relevant stakeholders of the project
3. Changes are effected and logged and all the stakeholders are intimated
4. The outcome of changes are recorded

Communication

A considerable skill of the project manager is required to put the communication plan in place and act as per the communication plan. This ensures a wide participation of the team members and the project stakeholders. Thus, project stakeholders know the progress of the project and all the team members tend to generate confidence and trust on each other. Most of the problems also get resolved due to mutual trust and the attitude of cooperation. The initial problems soon get overcome with the help of more focus on the project activities, effective communication and more collaboration. Later, in the next few weeks, these problems were overcome by deploying the resources with right skills, outsourcing some of the activities and raising the team morale, which increased their productivity. Some one-to-one consulting and training program for the team was also introduced at this stage. The project execution is carried as per the plan and there is a sound process on monitoring and control in place. A system of reviews and feedbacks is followed and project related risks are handled with a proper risk mitigation plan. All the stakeholders are informed about the milestones of the project and a system of appropriate communication plans is followed. All the team members are given importance and considered as key members of the project. The team morale is set to high standards and it is ensured that the team is in high spirits.

This project team will be at its innovative best and find out ways to achieve their targets on time and within the budget. A highly motivated team will not only perform their own tasks perfectly, but, help others to complete their tasks to perfection. A informationsystem of rewards and recognition also helps to motivate the team to perform in excellent manner. Team members who perform very well and also provide brilliant ideas to help develop the innovative product which would prove as highly competitive must be suitable rewarded. This help to develop a culture in the team to perform well and those who get rewarded get motivated to continue to do well.

Project Closure

Project closure involves all those activities which are needed when the project is coming to an end. Typically the following activities are required:

• Take the installation and commissioning report from the project stakeholder.
• Get the Project Feedback
• Lessons report
• Terminate the project
• dismantle the project teams

References

Burke, R. (2003), Project Management, Planning and Control Techniques, John Wiley and Sons.
COSO, 2004. COSO Enterprise Risk Management – Integrated Framework. COSO.
Field, M., Keller, L. (1998) Project Management. Open University
Kloppenborg,T.J (2015) Contemporary project management.3^rd ed. Stamford: Cengage learning
Wilson, R. (1982). “Risk measurement of public projects”, in Discounting for time and risk in energy policy, Resources for the Future, Washington DC.
MAYLOR H (2008) Project Management 3^rd ed.Prentice Hall
P.M.I. (2008). A Guide to the Project Management Body of Knowledge- PMBOKÒGuide 4th ed. Project Management Institute.
Smith, N. J. (2003). Appraisal, risk and uncertainty. London: Thomas Telford Publishing, Thomas Telford Ltd.
Raz, T. & Michael, E. (2001). Use and benefits of tools for project risk management. International Journal of Project Management, 19, p. 9 – 17.
Thomson Reuters White Paper, 2014. PRACTICAL GUIDANCE: SEVEN STEPS FOR EFFECTIVE ENTERPRISE RISK MANAGEMENT. Thosmson Reuters.