During my project management course, I have been assigned with one project related to small house renovation program. I have to undertake various tasks to achieve project completion on time. The first phase was concerned with planning where the whole project was divided into smaller tasks and the right persons are assigned with the particular task. I identified that 6 major activities were there in home renovation, namely, selection of the building to be renovated, modeling of painting method, setting of budget plan, continuous monitoring and managing of growth cycle, layout of the interior design and furniture and at last, landscaping. The project was started on June 1, 2019 and the closing date was June 12, 2019. Initially, I felt very nervous regarding how to allocate and manage such complicated task. However, after reviewing the project management theory of Work Breakdown Structure, I prepared WBS consisting of three main sections based on working responsibilities of workers. Three sections were Apprentice I, contractor and Apprentice II. Apprentice II was the owner of the house. I committed one major mistake while preparing WBS. I have not mentioned date and time at which the particular task was to be finished. I analyzed that high level of professionalism is important for painting and carpentry type of work and other common tasks can be effectively managed by the personal skills of the house owner. After completing WBS, I prepared RACI chart to summarize the roles like responsibility, accountability, consultancy and inform. I held house owner as responsible for purchase supplies, purchase of new curtains, hanging of shutters, washing of interior and exterior windows, etc. and Apprentice I would be held responsible for painting of shutters, ceilings, interior and exterior walls. After this, I have prepared Gantt chart as per the project management theory. I evaluated Gantt chart as the useful and effective way to illustrate tasks and their start and end time. Then, AoN diagram was drawn that shows the pictorial schedule of activities mentioned in the boxes. This helped me in achieving better understanding the interdependence between different activities of the project. For instance, floor can be refinished before repairing it properly. I analyzed that to remove the problems associated with overload resources, implementation of project management techniques like WBS, RACI, AoN and Gantt chart are essential to overcome them (Partner, 2019). Overloading of resources may lead to the unnecessary incur of cost that will generate ineffective returns for the business enterprise handing renovation (Scott, 2017). With the passage of time, I gained knowledge regarding the importance of preparing the adequate budgetary plan in order to accomplish desired goals and objectives within the set resources and time duration. I initially faced some issues while preparing budget like I was not getting what amount is to be allocated for painting of walls, how much cost will carpenter charge for repairing wooden shutters, porch and wooden floor. I analyzed that carpenters and contractors generally charge on hour basis, so I calculated the budgeted cost by multiplying cost per hour with working hours. After that, I summed up all the cost to determine the net total cost. I estimated $3100 must be remained available for emergency and other discrepancies that may arrive while the project is going on. I analyzed that some amount of expenditure can be reduced by the owner by doing self work effectively and efficiently. After setting out the budget, a progress report was prepared twice during the whole project. I prepared first progress report on first weekend to review the done activities and second progress report was prepared at the end of project completion to review the complete project. EVM analysis was considered helpful in tracking the success of the project (Zohoori et al., 2019). Under EVM analysis, there were 3 types of analysis. The first analysis was concerned with Earned Value Analysis which was done by comparing the budgeted expenditure with the actual expenditure incurred on the project after completion of the project. After this, Earned Value Management was done to test the generated and required output of the project based on WBS. From this course, I learned about EVMS which contains various tools and techniques used for EVM analysis. It helped me in calculating the planned value, actual expenditure and earned value of the project in a very amount of time. I analyzed that the project manager should undertake appropriate measures to mitigate the risks as and when they arrive in the course of project. Different risks are considered to have different potential to affect the profitability of the project. With the help of risk management technique, I got to know about the right procedure to identify and evaluate the risk. I gained knowledge regarding the role of change management in accomplishing the project objectives. Change management is considered as the strategic mechanism that motivates the project team to undertake suitable action in order to achieve desired goals and objectives within a stipulated period of time (Brones et al., 2017). Effective communication is essential between the members associated with the project to take desired course of action. At last, the project was closed within the period of two weeks but the cost incurred was higher than the budgeted amount. I could have controlled the project in an effective and efficient manner and must have taken appropriate measures to reduce the affect of risky situations. I will ensure the maintenance of cost as per the prepared budget. This will help in raising the profitability level of the enterprise.
Brones, F. A., de Carvalho, M. M., & de Senzi Zancul, E. (2017). Reviews, action and learning on change management for ecodesign transition. Journal of Cleaner Production, 142, 8-22.
Partner, O. B. (2019). The accidental project manager.
Scott, J. T. (2017). The sustainable business: A practitioner's guide to achieving long-term profitability and competitiveness. Routledge.
Zohoori, B., Verbraeck, A., Bagherpour, M., & Khakdaman, M. (2019). Monitoring production time and cost performance by combining earned value analysis and adaptive fuzzy control. Computers & Industrial Engineering, 127, 805-821.
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