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BUS2001 Project Management Fundamental and Practices Assignment Sample

Assignment Details:
Word count/Time provided: 2000 words
Weighting: 25%

This assessment is a continuation of Assessment 2 (Unit Project- Part A). Students should work on the same selected project and prepare report covering the following requirements.

1) Provide an introduction or a summary

2) Analyse project schedule using critical path and Program Evaluation and Review Technique (PERT).

3) Develop Project Budget and Cost Management Plan

4) Assess project health of the case project using Earned Value Analysis (EVA), once the project started for 3 months.

5) Provide critical assessment of contemporary project management practices.

The report (2000 words, fully referenced in Harvard style) must be submitted on the due date. The report must have a completed signed cover page.

Solution

Introduction

The report represents the project management process and, for a project, represents the project management practices that help to understand the project management process more effectively. There are different stages in project management, and for completing the project, it is essential to create a project schedule and cost project planning. The report focuses on the three major practices of the project management process: project scheduling, project cost estimation, earned value analysis, and human resource management for the project management. The report takes the IoT in the healthcare sector as a project continuous from assessment two and further represents the project management process for the same project for assignment help.

Project description

Information technology is increasing the scope and becoming the most valuable and usable asset for humans. The Internet of things is a network that provides connectivity between the different devices to operate according to human needs and instructions. For this purpose, IoT networks are developed that helps human interact with different devices simultaneously. Different fields are using this technology for human comfort. Still, with the scope of the IoT in the healthcare sector, this technology is more valuable and usable for the healthcare sector. As per the project defined in assessment 2, the IoT in the healthcare sector in this report focuses on the patient monitoring process with the help of the IoT network.

Project schedule

Project schedule represents the time consumed by all the activities of the project. The IoT implementation project for Royal Melbourne hospital in the healthcare industry in Australia is big, and there are different activities associated with the project. The complete project is divided into five different stages. These stages represent the complete project in the different parts, and all the activities of the project are divided into these 5 parts of the project. Following are the 5 main activities of the project.

- Project initiation and planning
- Project implementation
- Managing speed and accuracy
- Testing
- Go live

Different sub-activities are also associated with the project's main activities, which are represented in the table diagram below. The total time estimated for implementing the IoT in the hospital is 138 days. The schedule also represents the estimated and planned time for each activity, and the actors are also represented in the below table. The project schedule is essential for project completion and controlling cost and time. The table represents the Gantt chart of the project schedule that represents the start and end date of all the project activities, as the project is related to the IoT implementation in the Healthcare industry. There will be involvement of many stakeholders. It is essential for the project management that it should be known which actor in the project is performing which operation. There are some tasks that will be completed by different actors that are also represented in the project's schedule so that the availability of the responsible person can also be scheduled as per the requirement of the project. The payment of the different positions is different so it is essential to schedule the actors as per their needs so that the payment of the actor can also be calculated and tracked during the project (Ba'Its et al. 2020),

Figure 1: Gantt chart
(Source: Author)

Critical path

As represented in the above table of the Gantt chart, there are different activities, and the activities are represented in the table below. All the activities are essential and performed to complete the project. If the duration of all the activities is added, then the project's time will be high, but there are many activities in the project that are performed in parallel to each other, which reduces the project's time. This time is estimated to be the critical time of the project that will be taken by the project to complete all the activities of the project.

Pert analysis

Pert analysis is basically the method which stands for the program evaluation and review technique. In this method the proper critical path is needed to form for all the activities.

The below table represents all the activities in the form of numbers like 1.1, 1.2, 1.3, etc.

Table 1: Activity table
(Source-Author)

The below diagram represents the critical path analysis of the complete project. As per the diagram, The red blocks represent the project's critical path. The critical path calculated in the below diagram is represented in the above table. The critical path represents the remaining activity that is not part of the critical path and will not take a particular time for the execution but is completed with the associated activity.

Figure 2: Critical part analysis
(Source-Author)

PERT analysis

Table 2: PERT analysis
(Source: Author)

Project Budget and Cost Management Plan

Project cost and budget is the essential part of the project management process. The project manager needs to follow the project schedule and complete the project within the planned budget. For effective project budget management, the project schedule plays a significant role. If the project schedule is followed effectively, all the project expenses will happen as per the project schedule. The project budget and cost management plan are also associated with the schedules (Kumar et al. 2020). Talking about the expenses the project requires, the resources may be the products and devices or the human resources. The materialistic resources are fixed, and there is no variance in the project cost because of that resources, but the controllable resources are human resources. The project budget may increase because of the less effective human resource management. All the human resources needed for the project and their per hour estimated cost for the project work are represented in the table below (Cynthia 2020).

 

Table 3: Resources table
(Source-Author)


As per the analysis of the project plan, the total project time remaining for the project if the project's initial planning is completed as the schedule and the human resources plan is created represented in the below image; this represents that around 96% of work is remaining after the project planning.

 

Figure 3: Work overview

The working hours of all the Human resource asper the standard and optimum performance from all the resources are represented in the below graph/ as the IoT project is a kind of network project, the network engineer working hours are considered maximum in the project. Some of the human resources don't reflect cost because they will work with or in the place of other resources as per the requirement.

 

Figure 4: Resources graph

According to the per hour cost of the human resources and the working are estimated for the project completion, the below graph represents the cost that will be paid to all the human resources for their contribution to the project (Sharma & Nair 2019). The cost calculation is done based on the defined cost per hour in the above table. Multiple human resources are represented in the below image according to the condition and delay in the project to recover the issues and loss in the project execution. Other resources will be utilized (Al-Sheikh & Ameen 2020)

 

Figure 5: Cost variance

Earned Value Analysis

One of the practical project management tools used for estimating the project completion time and the cost and monitoring the progress of the project at different times is earned value analysis. The earn value analysis is used in the project management process to evaluate the project performance and analyse the cost and time effectiveness during the project (Dautov et al. 2019). The below diagram represents the cost status of the project. Has represented in the image, the total cost estimated for the project is 46792 dollars. The current state of the graph represents the completion of the project is 6% because it represents the plan of the project. As per the project plan's further implementation, the remaining cost of the project will also be utilized (Azimi et al. 2019).

 

Figure 6: Project cost status

The image represents the cost overview of the complete project as per do define human resources and their per hour cost for the project. The cost overview is represented in the graph. This cost overview also represents the start and end date of the project. The cost overview is an auto-generated graphical representation of the post overview of the project. As per the completion of the project, the graph auto represents the remaining cost of the project. This helps the project manager manage the project's costs with the project schedule so that the overrun of the cost can be controlled. This helps in the cost monitoring process for the manager ( et al. 2016).

 

Figure 7: Cost overview

Critical assessment of contemporary project management practices

Project management process contains different processes, including the project plan organizing the project and human resources, and providing maximum productivity with efficient teams. The project management strategy focuses on the completion of the project on time with the effective utilization of resources under the estimated cost budget. by utilizing the contemporary project management practice, the IoT implementation in the healthcare sector project can also be effectively managed. As per the defined information in the above report, the human resources are represented, and their role and responsibility in the different project activities are also defined in the Gantt chart (Usak et al. 2020). The project plan is also represented in assessment 2 which can be followed effectively. Following the contemporary project management practices makes the project management easy to handle and complete on time under the estimated project cost. It is essential to implement these practices for the project management process as they help the project manager analyse all the aspects of the project (Hussain et al. 2019).

Conclusion

The report concludes that the project management process involves the different stages and the practices that are used for effective project management. A project management process contains various activities, and human resource management, cost estimation, and the project schedule are essential parts of the project management process. The report has represented the cost analysis and the project's human resource management. The report concludes that it is essential to focus on resource management according to the project schedule to maintain the project effectiveness and complete the project under the estimated project cost.

Finding and Recommendations

The findings of this research are as follows:

- Project management helps in completing the project with proper outcomes and success.
- The IoT helps in providing better solutions without any kind of difficulty to the patients.
- IoT improves the level of productivity and services in the healthcare.

When it comes to the recommendation, there are few recommendations’ which will help in future research,

- Proper implementation of IoT service in healthcare with best project management approach.
- Improve the designing and development of the devices which will help in the improvement of the healthcare services to the patients.

 
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