Project Management

7BSP1244-0901-2021

CW2 - Drone Case Study PID Part 2

Individual Report
 1. A project schedule including a Gantt Chart, showing the critical path.

Gantt chart is a well-known Project Management tool that aids in the scheduling and
planning of specific projects, as well as the systematic and successful simplification
of any type of complex project. According to Bri and Mlinari (2018), the Gantt chart is
a graphical depiction of a project’s schedule. It appears as a graphical bar chart that
depicts all of the resources, predecessors, and the crucial path that must be taken
into account while completing the project. Gantt charts, on the other hand, allow the
Project Manager to visualise how long each of the specified projects will take to
complete and to manage task dependencies in a systematic manner. The Gantt is
created in this project using the MS Project Platform.
Drone tech Time
Phase Budget Months

Activity Budget 1-2 2-3 3-4 4-5 5-6 6-7 7-8 8-9 9-10 10-11
Initial Payment £42,000 £42,000
Approval Of Design
Phase £45,000 £22,500 £22,500
Order Entry Module
Completion £35,000 £17,50 £17,50
0 0
Delivery
£55,000 £27,500 £27,500
Confirmation Module
Mobile Application
Module Completion £25,000 £12,500 £12,50
0
Production System
Test Approval £85,000 £85,000
Implementation Sign £136,592 £136,592
Off

Monthly Total £42,000 £22,500 £17,50 £27,500 £35,00 £17,50 £40,000 £221,592
0 0 0
Cumulative £42,000 £64,50 £82,000 £109,50 £144,50 £162,00 £212,00 £423,592
0 0 0 0 0

 2. A time phased budget with a contingency

‘An amount added to an estimate to account for objects, conditions, or occurrences for which the state, occurrence, or influence is
unknown but which, in the aggregate, are likely to result in higher costs. Statistical analysis or judgement based on previous asset
or project experience are commonly used to estimate costs’.

 3. A list of monitoring and evaluating metrics that measures progress against schedule, budget and project success

Relevant project management metrics will help us gain a better knowledge of the situation by removing uncertainty, allowing us to
make more educated decisions. Cost-related project management metrics can demonstrate a team's worth. An on-time delivery
rate, for example, or the rate at which SLAs are met. Return on Investment (ROI) is a popular statistic for demonstrating this value.
A wise company would disband a department that does not create or contribute to the company's measurable objectives and
redirect resources to another area that does.

1. Productivity
Units of Input/Units of Output = Productivity

2. Gross Profit Margin

(Total Profit-Total Costs)/100 = Gross Profit Margin

3. Return on Investment (ROI)

(Net Benefits/Costs) x 100 = ROI

4. Earned Value
Earned Value (EV) = % of completed work / budget at completion (BAC)

5. Customer satisfaction
Customer Satisfaction Score = (Total Survey Point Score / Total Questions) x 100

6. Employee Satisfaction Score

Employee Satisfaction Score = (Total Survey Point Score / Total Questions) x 100

7. Actual Cost
Actual Cost (AC) = Total Costs per Time Period x Time Period

8. Cost Variance
Cost Variance (CV) = Budgeted Cost of Work – Actual Cost of Work

9. Schedule Variance
Schedule Variance (SV) = Budgeted Cost of Work Performed – Budgeted Cost of Work Scheduled

10. Cost Performance

Cost Performance Index (CPI) = Earned Value / Actual Costs
 4. A project closure checklist

The final step of a project is called project closure. It's when the project manager confirms that the project deliverables have been
accepted by the client, stakeholder, or customer. Maintenance must be set up if the project or product will continue after the project
is over.
Before closing the project, the project manager will analyse it in its entirety, grading performance and comparing it to the baseline.
The project team will participate in this process by providing observations and feedback, which will be compiled in a document
called "lessons learnt." This serves as a blueprint for future initiatives.
Project closure entails more than simply signing off on all documentation, fulfilling any vendor contracts, and releasing the team to
work on other projects. It ensures that the project's initial goals have been met and that any loose ends, such as risks or difficulties,
have been resolved.
Instructions:
 Mock up a Drone Case Study Project Dashboard
 Review the example project closure checklist
 Discuss and identify a project closure checklist
 Complete a project closure checklist for the Drone Case Study
Project Management Dashboard
Example of Efficient ways of project closure

Item Description Status Responsibility Comments

1.1 Conduct close-out meeting Complete PM -

1.2 Perform staff appraisals PM

2.1 Close-out all work orders Complete PM -

2.2 Terminate reporting procedures

3.1 Audit final charges & costs complete PM -

3.2 Prepare final financial report

4.1 Submit final report to customer In Progress PM -

4.2 Submit final report to management

5.1 Complete & close project files Not complete PM -

5.2 Close down site operations

ETC…
Drone Project Closure Checklist

Description Status Deadline Responsibility

The project's deliverables are delivered to the project's Complete 15/05/2022 Phillip Greenberg
sponsor.

Meeting in retrospect. In progress 02/07/2022 George Cranston

Agreements and contracts pertaining to projects. Complete 23/01/2022 Phillip & James
Connor

Completion of all task orders and projects. Complete 30/07/2022 Gerald Peritoni

Evaluation of project outputs in relation to each project's In progress 15/08/2022 Mary Pearson
objectives.

Performance evaluation of project stakeholders. In progress 30/08/2022 James Connor

Actual project activities are compared to the planned Complete 31/07/2022 Philip Greenberg
schedule.

Costs and returns on investment are estimated based Complete 31/07/2022 William Scot
on the project's budgeted budget.
Elizabeth Walton

Finalization of financial reports. In progress 21/08/2022 Phillip Greenberg

Cranston

Division of projects into groups and teams. Incomplete 30/08/2022 Mary Pearson

Final reporting and file closure for the entire project. In progress 21/09/2022 George Cranston
Gerald Hasper
Analysis and Evaluation:

Based on the conclusions of the preceding report, it can be observed that the
project's duration should be limited to 34 days, or else the project's labour budget will
be overrun.
The project's labour cost has been determined to be £136,592. It is the earliest time
that the Project could be completed, based on the resource allocation. It has been
determined that the project will take the maximum number of working hours to
accomplish. Project management tools and techniques such as the Gantt chart have
been used to identify the project's critical route as well as resource levelling. It may
also be used to govern and monitor the project to help achieve better results.

Reference:

Brčić, M. and Mlinarić, D., 2018. Tracking Predictive Gantt Chart for Proactive
Rescheduling in Stochastic Resource Constrained Project Scheduling. Journal of
Information and Organizational Sciences, 42(2), pp.179-192.

Kliem, R.L., Ludin, I.S. and Robertson, K.S. (1997). Project Management
Methodology a Practical Guide for the Next Millenium. Taylor & Francis.

Appendix: