Project Management Australian Centre for Moving Images

Question: Discuss about theProject Managementfor Australian Centre for Moving Images. Answer: Introduction This study deals with Project Management that means measurement of cost as well as progress of particular report (Verzuh 2015). In this particular assignment, emphasis has been take for making predictions regarding future costs as well as time allocated for conducting the project work. The current segment elucidates project management task taken from a report based on Australian Centre for Moving Images. It has been noticed that companys capital relies upon seeking tenders for different purposes such as data storage, computer servers and various types of tape robot systems and other use of other software devices (Reiss 2013). During the initial phase, the companies made plan for purchasing provision in the near future. As far as future purchase is concerned, it can be done in due course for a time of 2 years. The current segment objectify in making Gantt chart for executing the entire process as well as given earned values as required for the project. This particular project plan has been conducted based on time as mentioned in the case study document. Therefore, EV cost diagram as well as other cost diagram provides an idea regarding cost that is necessary on regular basis (Rowell 2016). Discussion On discussing the project, it is noted that the given project provides an idea regarding the number of days used for execution of entire process as required by the tender (Marchewka 2014). This particular case study report indicates RFT of the Tender on the following date (19th of September 2016). On the other hand,the last time for asking questions regarding clarification of any point on given tender is dated on 6th of October 2016. The time required for full process is 17 days. In other words, the last date of tender submission is 10th of October 2016. Therefore, the time required for the second task is 4 days (Kerzner 2013). As far as next step is concerned, project work is considered as the completion of evaluating the tender provided at the above case. This task will be completed within 15 days as an estimated figure. The next task that needs to be performed is negotiations with the tenderer. The before mentioned task will require 7 days. In the next step, there will be way for notifying the tender report. This process will take 2 days. In the next step, execution will be performed for the proposed contract. This will take time for 4 days. In the next step, it is required to find the date for beginning order. There are altogether 9 tasks in this project (Heldman 2013). Gantt chart is illustrated below with each attributes and steps: Task name 1 2 3 4 5 6 7 Problem of RFT - Ending time of asking question by the tenderer Closing time of submitting tender Completion of assessment of tenders Negotiation of tenderer Formal announcement of tenderer Execution of planned contact Date of initiation of project Table: Gantt chart for the given project (Source: Created by Author) After preparing the Gantt chart , the next step is constructing variance analysis plan for the project (Heagney 2012). In other words, variance analysis plan provides planned value as well as earned value and total cost as essential for executing the project. Below table shows the costs as required in the given project. Task Subtask Milestone Status PV EV AC Variance % Schedule (EV- PV) Cost (EV- AC) A Completed 100 100 100 0 0 A1 Completed 25 25 25 0 0 A2 Completed 50 50 50 0 0 A3 Completed 25 25 25 0 0 B Completed 50 50 55 0 -5 C Completed 50 50 40 0 -10 D Completed 70 40 110 -30 -70 D1 Completed 30 30 50 0 -20 D2 In progress 40 10 60 -30 -50 E Not started 90 0 0 -90 -90 F Not started 40 0 0 -40 -40 G Not started 50 0 0 -50 -50 H Not started 5 0 0 -5 -5 Total 455 240 305 -215 -65 Estimated Cost at Completion It has been noted that estimated cost at completion means the expected cost that is essential for completing the work. Therefore, the predictable cost for completing the project is 0. (Gido and Clements 2014). Cost Summary In this part, it describes the effect of costs required for the business. The actual cost is less than the earned value. Therefore, there is no such risk in this project (Burke 2013). S Curve It is important to consider the fact that the S Curve obtains by plotting the cost used for various tasks in business in and against time (Binder 2016). S curve for the given project is illustrated below: Graph: S Curve of cost (Source: Created by Author) The above S curve has been obtained based on the cost. In this case, planned value of the costs is considered steeper than the earned value as well as actual costs (Reiss 2013). Therefore, it indicates that Earned Value as well as Actual costs are much lesser in comparison with planned value of the project. Forecasted Completion Date It is noted that the project requires 58 days for completion. The Starting date is 19th of September 2016 whereas the ending date is 8th of December 2016. Milestone Report Below is the Milestones report that is required for completing the given project on time: Milestone Task Scheduled Completion Projected Completion Actual Completion Issue A 17th September 2016 17th September 2016 17th September 2016 No issue. The first task was the issue of the tender. The first task has been completed smoothly without any hassle. C 7th October 2016 7th October 2016 9th October 2016 The task is postponed due to the explanation necessary by tenderer. D 1st November 2016 1st November 2016 3nd November 2016 Due to stoppage in Tender Closing point in time. H 13th December 2016 13th December 2016 16th December 2016 Due to hindrance in assessment of agreement Table: Milestones report of the Project (Source: Created by Author) The Milestones report explains the estimated time essential for conducting a particular project (Reiss 2013). This means the milestones of the project is Task 1 whereby there are certain attributes such as Problem of REFT, close time for submitting the tender as well as completion for evaluating the tenders and announcing the final date for starting the contract. Initial task took place without any kind of delay. Therefore, the time required for answering the questions with regard to tender are delayed because of several reasons. The time has been elapsed due to the clarifications required by the tenderer. Event Report Present Issues Potential Impact Proper Corrective Action On analysis, it has been noted that there was a issue at the time of submitting the tenders whereby some tenderer failed in understanding the terms as well as conditions of the tender. There are various consecutive tasks where all the tasks was delayed because of final execution of the project. The delay in the closing of the tender has resulted in the delay of the entire task. It is essential for taking proper corrective action for solving the issues as far as possible. This can be done by posting the terms and conditions that is easily understandable to all. Conclusion At the end of the project report, it is concluded that the study reveals the time as well as cost acquisition for executing the project on timely manner. In other words, the project valuation and actual cost are elaborated in the above analysis. Gantt chart is made for the project with seven weeks calculation. This Gantt chart gives an idea regarding total number of days that is essential for completing the task of the project. Therefore, there can be various delays identified at the time of execution of the project because of clarification asked by the people. It is suggested that terms as well as conditions should be mentioned and stated in easily languages. This will help in reducing the delays, errors as well as bring efficiency in the project process. This will reduce time as well as cost as essential for the given project. Reference List Binder, J., 2016. Global project management: communication, collaboration and management across borders. CRC Press. Burke, R., 2013. Project management: planning and control techniques. New Jersey, USA. Nelson Education Gido, J. and Clements, J.P., 2014. Successful project management. Nelson Education. Heagney, J., 2012. Fundamentals of project management. AMACOM Div American Mgmt Assn. Heldman, K., 2013. PMP: project management professional exam study guide. John Wiley Sons. Kerzner, H.R., 2013. Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Marchewka, J.T., 2014. Information technology project management. John Wiley Sons. Reiss, G., 2013. Project management demystified: Today's tools and techniques. Routledge. Rowell, C.J., 2016. Book Review: Project Management for Information Professionals. Library Resources Technical Services, 60(4), pp.280-281. Verzuh, E., 2015. The fast forward MBA in project management. John Wiley Sons.