HR Project Management Final Team Presentation

Running Head: PROJECT PLANNING 1

PROJECT PLANNING 2

Planning Considerations for the HR Project

Courtney Goodwin

Managing Human Resource Project

Professor Kenneth Lewis

February 19, 2021

Introduction

Project management is essential in any business setup since it ensures that the product is delivered to clients in the most suitable way while operating the business against the enterprise's opportunity cost. The most effective project includes the views and opinions of every employee in the organization (Caudill, 2018). Collaboration of various stakeholders enables the management to balance the risk, budgeting, resourcing, and scope while planning and managing a project. My project is to construct a private clinical house to accommodate in-patients suffering from chronic diseases in Florida. The implementation period will be two years.

Scope and scheduling

Project scope is an initial framework; the outline is the expectations during project implementation. The most crucial factors involved in the framework include the cost, deadlines, tasks, activities, essential features of the project, deliverables, and the goals of the project. The project scope management enables the project manager to assign the right resources, personnel, and budget to sub-projects in the main project in the most effective way that ensures delivery of quality work and cost-effectiveness during the project's implementation. There are three essential processes of scope management: planning, controlling, and closing that includes deliverables and assessing the result of the project.

On the other hand, scheduling involves strategies laid down to ensure all the project activities are completed within the deadline set. Scheduling involves the effective setting of the starting and the finishing date of the project. Scheduling also involves assigning employees duties and tasks that are best at in the project. The information and activities outlined in the project's scope and scheduling are essential to a project team. The framework enables the project team to remain on the same page during the entire project implementation.

When a project team understands the scope and the scheduling of the project can accomplish the activities, they are assigned within the time-bound outlined in the project scheduling. Members of the project team can avoid mistakes during the project implementation, such as constant changes of the assigned task to fit the project's final goal. The organization can avoid the overrunning of the project due to mismanagement of the project's resources. The organization is also able to prevent the possibility of getting the outcome that was not intended.

Four behavior skills

In order for a project to be effectively completed, the concerned organization should ensure there are strategies set for project resourcing. Enough resources enable the organization to hire the most qualified human resource to manage the project. Additionally, adequate resources also allow the organizations to purchase various tools and equipment to ease the implementation process. During a construction project, resources enable an enterprise to make prompt payment to casual works and purchase construction material on demand.

Organizations should incorporate critical skills in the project implementation to get the intended outcome. Project technical skills are essential in a project: The skills under this category are obtained through effective leadership from the project managers. Managers with critical skills are efficient in organizing and directing project times to ensure they get the intended outcome. The other type of skills is known as planning and scheduling skills that enable effective and timely decision making, particularly crisis, to ensure major project activities are not delayed. The third essential skill is budgeting skills that provide all employees utilize the scarce available resources without wastage. Employees should only obey and request just-in-time resources for a specific deliverable. The last one is quality management skills that ensure effective planning that the organization meets the deadline in executing a particular activity while adhering to the scope and scheduling framework.

How to determine the budget associated with the project cost

A project budget in the total anticipated cost required to complete a project within a specific period. The management team and the project team have the right to know how I came to allocate resources in the project. First, I used the historical data through benchmarking from other institutions that have accomplished projects similar to those projected to be accomplished in our organization. Through historical data, I included more accurate estimates by analyzing the mistakes and the successes the other organization went through during their project implementation.

Secondly, I establish the budget based on experts' guidance in creating project budgets to avoid unnecessary and obvious pitfalls. I also involved some few managers and project teams to countercheck and confirm the accuracy on the figures on my budget. Through the collaboration of the few mangers and the teams' project, I incorporated a few adjustments that seem crucial in attaining the project's optimum organizational goal.

I also involved the concept of cost aggregation to estimate the entire cost of the project. I considered each deliverable separately before adding the associated cost of every activity to get the whole cost. For instance, with financial expertise assistance, we estimated the cost of buying project material, the cost of hiring employees, and the cost for research separately and later adding all the cost to get the rough estimate of the whole project.

How to determine cash flow for separate activities

Cash flow refers to how financial resources circulate in and out of an enterprise regarding project implementation. The cash flow in a project is calculated by determining the cash the project is intended to generate then subtract the expenses accrued by the organization during its implementation (Lock, 2017). Through the calculation of the cash flow, fixed operating costs are excluded. In my case, I involve the cash flow between the payment made by clients on the projects and the cost associated with payments contractors and project material.

Calculation of cash flow within six month

Cash receipt

	1st month $	2nd month $	3rd month $	4th month $	5th month $	6th month $	total
Cash at the beginning	10,000	7,500	2,000	5,500	7,500	5,000
Customer payment	18,000	_	20,000	_	20,000	30’000	88,000
Overall receipt	18,000		20,000	_	20,000	30,000	88,000

Cash payments

	1st month $	2nd month $	3rd month $	4th month $	5th month $	6th month $	total
Projects material	7,000	_	_	4,500	_	2,000	13,500
Contractors payments		5,000	6,000	4,000	3,000	3,000	21,000
Overall receipt	7,000	5,000	6,000	8,500	3,000	5,000	34,500
Net cash Receipt-payment	11,000	5,000	14,000	8,500	17,000	25,000	53,500

Before the project is implemented, the project manager should advise the senior management on the project's viability based on the profit or loss projected through the preparation of the project cash flow forecast. The forecasting framework considers the cost incurred during project implementation and the project's revenue upon its completion.

How project managers identify possible project risks.

Successful project managers can identify and manage risks during project implementation. The project can identify possible risks by involving all stakeholders to brainstorm on the progress of the project. A project manager allows all the stakeholders to think and provide suggestions with no negative judgment and fear of criticism creatively through brainstorming. The process enables the project manager to gather information on unexpected and synergy ideas.

Secondly, the project manager also identifies the possible project risks by analyzing the project's progress and the SWOT analysis, which provides potential threats. The project manager can also identify potential by involving expertise from the quality risk assessment department who analyzes the project's progress and critical documents such as a project charter. Involving expertise is crucial because they also recommend the organization mitigating or eradicating the risk through the project manager.

Creating the budget using Work Break down Structure (WBS)

The total budget of my two-year project will cost the organization USA dollar 215,500. The project will involve constructing the house foundation, internal and external structure (Winfree, 2019). The internal construction will take the highest budget of US dollar 86,000 while Steel erection will take the lowest budget of $9,000.

Conclusion

Project management involves preparing several complex documents such as management scope plan, project charter, WBS, and analysis of the SWOT analysis (Lester, 2017). Implementing a project without a proper project management plan is a false economy. Managers should develop strategies to identify and mitigate risk during the project implementation. Human resource and project teams should consult the senior management teams whenever there is a crisis in the project since they are also critical in ensuring the project's success.

References

Caudill, J. G. (2018). The importance of training and development for successful project management practice. Proceedings of The 7th International Virtual Scientific Conference. doi:10.18638/ictic.2018.7.1.353

Lester, E. I. (2017). Work breakdown structures. Project Management, Planning, and Control, 53-59. doi:10.1016/b978-0-08-102020-3.00012-7

Lock, D. (2017). Cost estimates – 2. Estimating in practice. Project Management, 103-123. doi:10.4324/9781315198651-5

Winfree, P. (2019). Breaking up the budget process. A History (and Future) of the Budget Process in the United States, 205-215. doi:10.1007/978-3-030-30959-6_8