Macroeconomics

Project management is something essential to make the construction projects inflow, and it deals with all the process of execution and budgeting, also with people, where project manager collaborate with builders and all communities related to the project. The project for which Project Charter and Project Management plan will be developed is “Plan to construct my own house and subcontract out that later on.”

This project is chosen because when a person is made responsible for his work, then he will show more responsible behavior and carried that out in his best way possible. So, when I am charged with this duty to by my own to construct my own home, then I will want the best. I will want to carry the whole process smoothly. I will think of all the problems and challenges that I might face ahead, now. I will be curious to imply all the project management techniques that I have studied, now (Duncan, (1996)). I will research all the tools that enable me to achieve my purpose and goal. My primary goal is to finish the work by minimizing all the disruptions that may appear by applying the concepts and commands that cater to all skills, technologies, and resources to successfully finish the construction.

The reason for this project is to analyze this project regarding managing projects that are explained by the lectures and PMBOK. This report is about constructing own house and hence decided to subcontract this project to Royal Construction that is one of the reliable company for the construction of the house and is active in this field from the past 20 years. The principal purpose of this company is to provide the comfortable and luxurious lifestyle to its customers at a very reasonable cost.

At whatever point I tell somebody I am constructing a house, I get frowns and war stories. Loved ones offered accounts of evolving costs, poor administration and proceeded with venture delays. The following are a couple of the cost, timetable and quality building issues (i.e., dangers) that when dealt with an undertaking administration mentality, don't appear to be so terrifying. The objective is to transform them into sensible and adequate dangers and risks. I will set out with them the forecasted periods for the construction of different phases of the house.

Project management scope includes five main steps in the process;

This process contains all the process performed for a new project or any new phase of a current project by doing an agreement to begin the phase or new project. Inside this project, the first step is to identify all the financial resources that are committed either they are internal or external but they can influence the project and its outcomes anyhow.

Requirements: it includes all the required material and plans

· Proposal writing

· Defining team members and leader of group

· Collecting all the essential information

· Execution viability analysis

· Customer necessities definition

· Improve project charter

· Identify shareholders

Whenever you start any project, it is necessary to write down all the necessary action that define to integrate and coordinate all the other plans, so it should be adequately documented. Moreover, this project management plan will define the project in the future than how it is executed, monitored, controlled and closed.

Inputs

1.2.2 Duration

There are many environmental factors that affect the project and they are:

· Work hours

· Organizational culture

· Holidays

· Internal factors that include, labors strike, material shortage, inaccessibility of man power etc.

· External factors that include community strikes, inflation, load shedding etc.

OPA gives us recommendation and measures that how to work for this construction project. We have to monitor these methods in future for the own house construction. Previously making the project plan will also be a great help in doing this project in a good way.

For this project, Mr. A (John Doe) is selected our company for the construction of his own house. For this, different terms and conditions in a given time span of the project are written in the contract.

Our first focus for this project is to complete this construction within the nine months as it is already mentioned in the contract. For this, we first construct a table and distribute the project in 9 months accordingly.”

Next focus is to attain the aim within the given budget, and for this, the costs of diverse materials are previously estimated, so that the estimated budget of the material can be followed correctly.

The estimated budget is $300,000, and the procurement should be done for a single house that is 35 square yards with basement, ground and second story.

The 3rd point to be the focus on is the project scope documentation. The scope of this project is to construct the house in a given time span and budget. The requirements of the project are in scope. For instance, in this project different dimensions are mentioned in scope statement like:

Project team is also made for this project and these are

Define Scope

I will learn here that what procedures of constructions are depended on the others. E.g., the paint on the walls can never be started before the completion of electricity work (J.Shenhar, 1996). So, in this phase, I will decide with my subcontractors that what problems they may face for achieving their targeted plans and what are their views regarding solving the problems. I will also make sure that they will tell me at the start about the successful completion of their assigned tasks. I will set the preliminary budget and arrange all the resources they need for the estimated tasks (Bueler, 1997). Also, here I am, building my dream house within the time limitation of 9 months and the budget constraint of $300,000.

3.1 Project Plan:

This process of recording the actions is essential to describe, integrate, prepare and coordinate all secondary plans. This project management plan will define how this project performed, observed and measured and close.

All the inputs mentioned for the development of the project plan is mentioned above. Also, the same tools and techniques are cast-off for this process, and it is skilled decision stated in the starting phase.

This meeting is held where all team members will meet and identify the specific actions needed to be achieved to make the project more deliverable before its final execution.

Project manager, project team and stakeholders all their meetings and attendees, planning meetings and analysis include in this.

· Risk management cost &

· Risk management schedule activity

It has all the detail analysis of the construction of the house, like how much construction is done up until now and what changes are required and changes are needed.

Methodology: in case of any risk we shall call a meeting amid the project team and project manager. Initially, we examine the influence of risks on the project and to find the best possible methods to cater the risks.

Approaches: in the meeting, elaborate plans for leading the risk management actions will be defined in the meeting. Risk management costs, basics and calendar activities will be developed. Risk contingency reserve application approaches may be recognized or studied. Risk management responsibilities will be giving general structural patterns for risk types and definitions of the term such as level of risks. Likelihood by type of risk, influence by type of objectives and the probability and impact matrix will be custom-made to the given project.

Roles and Responsibility: “All the project team will be held responsible for the risk handling, every member plays a unique role in identifying the risks, but it is the responsibility of project manager to focus on the main risks that may occur a big problem for the given project. The manager will prepare the formal document after consulting it with team members and after identification of the risks. Also, this document it will be followed to the CEO so that he would also know about the risks. If the project will not handle risks manages then it will be the responsibility of CEO to solve risk.

Timings: in this project risk management will be performed whenever the risk occurs.

This procurement plan sets the procurement framework for its project. It will be used as the guideline for managing procurement throughout the life of the project, and it will be updated whenever required. The given below is the procurement project plan is given below:

Procurement Process:

The entire procurement process is under the authority of the project manager, and also, he is responsible for sales and material selection:”

Bueler, W. M. (1997). An agenda for sustainability: Fairness in a world of limits. Notre Dame, IN: Cross Cultural Publications. 

Burke, R. (2011). Project management: Planning and control techniques (4th ed.). Chichester, Sussex [etc.: John Wiley & Sons. 

Cleland, D. I., & King, W. R. (1988). Systems analysis and project management. New York: McGraw-Hill. 

Duncan, W. R. (1996). A GUIDE TO THE PROJECT MANAGEMENT BODY OF KNOWLEDGE. Retrieved from http://www2.fiit.stuba.sk/~bielik/courses/msi-slov/reporty/pmbok.pdf

Morris, P. W., & Hough, G. H. (1993). The anatomy of major projects: a study of the reality of project management. Chichester: Wiley. 

Shenhar, A. J., & Dvir, D. (1996). Toward a typological theory of project management. Research Policy, 25(4), 607-632. doi:10.1016/0048-7333(95)00877-2

Turner, J. R. (2009). The handbook of project-based management: Leading strategic change in organizations. New York: McGraw-Hill.

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