Project management Assignment Example | Topics and Well Written Essays - 2750 words - 2

Project management - Assignment Example First the objective of the projects are essentials to define, then the goals of project will be stated clearly and communicated to the team members that are associated with the project, then tasks will be defined, after describing the task, resources required for the project are essential to define, the last two steps of project scope involve budgeting and scheduling (Dyal 2008). The critical path method could help penny in assisting scheduling and decision making. Penny could create efficiency, reduce uncertainty, and improve productivity through the help of critical path method. This can help in assess the earliest time by which the each activity can be completed. Through full project Gantt chart penny can evaluate the scheduling progress on the basis of individual task and whole project (Schwable 2013) Resource costing method is best to save the extra cost of utilizing resources; the second method is standard costing that helps in cost control, and the third method is activity based costing that determine the cost each activity required (Lewis 1995) Before starting any project risk assessment is the first step, risk occurs due to lack of tools, information and qualified employees. All uncertainties will be assessed through risk assessment data sheet and risk assessment matrix. Then the action plan will be created after conducting SWOT analysis of project, insurance will be taken to transfer risk and constant monitoring will be conducted to ensure the risk free status of the project. There are multiple evaluation methods but no can be said best; project evaluation methods include qualitative method. The formative evaluation methods are essential to lead up the project that is missing in the case study. The goal based evaluation is missed in the project that is necessary for any project and give ideas to the team members and management that how should the work be done in order to attain the stated goals. This evaluation encounters the SMART targets