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Project Management Theory and Practice – Waftly Towers Property Rehabilitation

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Project management theory and practice – Waftly Towers property rehabilitation

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Description

Assignment Brief

Project management is the application of knowledge, skills, tools, and techniques to project activities to meet the project requirements. It has always been practiced informally, but began to emerge as a distinct profession in the mid-20th century. PMI’s A Guide to the Project Management Body of Knowledge (sixth edition) (PMBOK® Guide) identifies its recurring elements:
Project management processes fall into five groups: Initiating, Planning, Executing, Monitoring & Controlling and Closing.
Project management knowledge draws on ten areas: Integration, Scope, Schedule, Cost, Quality, Procurement, Human resources, Communications, Risk management and Stakeholder management.

Assignment
Students are required to read and answer the following Case Study.
Case: Waftly Towers property rehabilitation

“Melbury investments has recently acquired the Waftly Towers property at 16 Elwood Avenue, Torquay. An existing hotel, the property is currently in poor state of repair and due to poor management has an attained a reputation for poor service, both within the local community and with its guests. Waftly Towers is Melbury Investment’s first hotel acquisition and the property is to become the flagship in a chain of Melbury Hotels that Melbury plans on developing over the next five years. Melbury Hotels are to be positioned towards the upper end of the hotel market and marketed as medium sized hotels in which personal service is a central theme.
As a first step in that longer term strategy the Waftly Towers rehabilitation project will be undertaken in order to rehabilitate and reopen the property using the Melbury Hotel brand. As well as returning the Waftly Towers property to profitability, the Waftly Towers rehabilitation project will provide a platform for the subsequent launch of the Melbury Hotel chain”. (Source: Waftly towers –Melbury Investments purchase agreement version 1.3)
In line with achieving Melbury’s business objectives, the Waftly Towers property is to be rehabilitated.

Questions
Assume that you have been assigned as the project manager for this project. Prepare a project report including the following.
• Prepare a Work Breakdown Structure (WBS) to the project. Need to use the standard practices to draw the WBS. You are allowed to pick and choose the names for summary tasks and activities in the WBS. Limit the number of activities to twenty five. (20 marks)
• Draw a network diagram for the project with ES, EF, LS, LF and Slack. Mark the critical path and project duration. (20 marks)
• Prepare a responsibility matrix to allocate responsibilities to the team members. You are allowed to pick and choose resources required for the project. (10 marks)
• Prepare a budget and a cost distribution plan for the project. You are allowed to decide the resources required. Use realistic estimations during the budgeting process with appropriate assumptions. Costs should be distributed using ES time when preparing the cost distribution plan. (15 marks)
• Prepare a quality management plan for the project. List all the quality standards. (10 marks)
• Prepare a risk management plan for the project. Need to demonstrate all the steps in risk management framework. ( 15 marks)
• Prepare a stakeholder management and communication management plan for the project. ( 10 marks)

Additional information

Table of contents

1.0 Introduction
2.0 Work breakdown structure (WBS)
3.0 Network diagram
4.0 Responsibility matrix
5.0 Budget and cost distribution plan
5.1 Budget
5.2 Cost distribution plan
6.0 Quality management plan
6.1 Plan quality management
6.2 Manage quality
6.3 Control quality
7.0 Risk management plan
8.0 Stakeholder management and communication plan
8.1 Stakeholder management
8.2 Communication management plan
References
Preview

1.0 Introduction

The objective of this project is that extensively discuss Waftly Towers property rehabilitation project which is conducted by Melbury investments. Melbury investment plans to renovate the existing 30 rooms, restore the grounds and landscaping of the garden and construct new east wing of the hotel consisting 40 additional rooms. This report consist work breakdown structure (WBS), network diagram, responsibility matrix, budget and a cost distribution plan, quality management plan, risk management plan, stakeholder management and communication management plan.

2.0 Work breakdown structure (WBS)

The WBS is a hierarchical decomposition of the whole project which consists all the tasks to be carried out the project team to achieve the objectives and desired outcomes of the project (PMI, 2017). WBS assists to project team to allocate funds, time and responsibilities for each tasks. It provides visual way to point out all the deliverables of the projects and helps to team to organize the project and monitor and review the progress of the project (Khohil and Chitkara, 2008)

3.0 Network diagram

The network diagram is a graphical representation of the logical relationship which also visualize dependencies of project tasks (PMI, 2017). This assists to project team to plan and track the project from start to finish in a sequence. Network diagram mainly helps project team for time management. Critical path diagram (CPD) is used to access the minimum project duration and decide the amount of schedule flexibility on the logical network paths within the schedule model (PMI, 2017). This method helps project team to complete the project in shortest possible time. If one task of this path is delayed, it will lead to delay whole project. This network diagram includes Early Start Time (EST), Early Finish Time (EFT), Late Start Time (LST), Late Finish Time (LFT) and Slack of each task. Network diagram is developed based on working days of standard calendar. Critical path is highlighted red in network diagram.

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