ASSIGNMENT 1 FRONT SHEET

Qualification BTEC HND in Business

Unit number and title Unit 6: Management a Successful Business Project (5039)

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I. Introduction

II. Explain and evaluate the stages of the project lifecycle (PLC) and their importance to the success of
a project.
Project management is the application of processes, methods, skills, knowledge and experience to
achieve specific project objectives according to the project acceptance criteria within agreed
parameters. Project management has final deliverables that are constrained to a finite timescale and
budget. A key factor that distinguishes project management from just 'management' is that it has
this final deliverable and a finite timespan, unlike management which is an ongoing process.
Because of this a project professional needs a wide range of skills; often technical skills, and
certainly people management skills and good business awareness.(APM,2022)

1. Four phases of the project life cycle

The project life cycle consists of four phases: initiation, planning, implementation, and closure.
The initiation phase focuses on defining the project's goals and scope, as well as identifying risks
 and required resources. The planning phase creates a detailed plan to achieve the goal, including
identifying specific tasks and creating a schedule. The execution phase is when work is carried out
based on the plan, with resource, time and risk management. Finally, the closing phase evaluates
project results and documents lessons learned, ensures documents and data are stored properly,
and communicates results to all stakeholders.
2. Project initiation stage
The project initiation phase is vital, laying the groundwork that dictates the success of the entire
project. During this phase, the project team must concentrate on key project aspects, evaluate the
project's feasibility and justification, and identify the necessary resources.
A crucial element of this phase is developing a business case. This document clearly outlines the
project's objectives, alternative approaches, timeline, budget, and potential risks. It provides the
project team with a comprehensive understanding of the project and an overall evaluation of the
situation.

To aid this phase, project lifecycle management tools can be utilized to form internal teams,
manage data and documents, and monitor project progress. These tools ensure that all team
members have the necessary information to work efficiently and achieve the project's goals. (Long
An Tran, 2021)

3. Project planning stage

The project planning phase is a crucial step in determining the vision, schedule, team
composition, individual responsibilities, resources, and tools to be used. The goal is to create a
detailed and clear plan to shape the project's progress and avoid chaos. This process needs to be
meticulously carried out to ensure the project's success.

During planning, you and your team will outline a roadmap of the project's key milestones and
accompanying steps that everyone will take to achieve them. Additionally, you will have a clear
view of the project's progress and the deadlines that each team member must adhere to. Most
importantly, you will gather resources and allocate them where needed: finances, time, tools,
and team members. Everything will become very clear and measurable on metrics.
 As emphasized above, executing this phase as carefully as possible is crucial, as it will shape the
framework for your project's progress. Returning to the comparison of building a house, this
could be likened to the stage of drawing up a floor plan while identifying the necessary
materials. Whether your house or project is truly solid depends a lot on how you shape it
initially.

Don't worry, there are many project lifecycle management software tools available to help you
plan effectively, such as project schedule, work breakdown structure management timeline,
resource planning for the project, and task lists (Long An Tran, 2021).

4. Project execution stage

The project execution phase is both critical and time-intensive, determining the overall success of
the project. As a project manager, your responsibilities include assigning tasks to team members,
organizing workflows, motivating the team, efficiently utilizing resources, meeting deadlines,
adapting to changing situations, and updating stakeholders on progress.

The main focus is on product delivery, internal reporting, and handing over the final product to
customers. It is essential to monitor progress and oversee each stage carefully. Setting the right
direction and motivating the team are paramount. Effective communication and coordination
within the team are also essential.

Tools commonly used during this phase include time management, task monitoring and control,
and task management systems. Time management is crucial for maintaining progress and finding
solutions when necessary. Supervisors must allocate time for each task and report on the time
spent (Long An Tran, 2021).

5. Project closure stage

5.1 The Closing Phase of a Project
The closing phase of a project involves processes such as evaluation and analysis, management, and the
assessment of team members' performance. The project manager's checklist includes handing over the
final product, ensuring all tasks are completed, evaluating individual and team performances, sending
reports to stakeholders, and conducting an overall project evaluation. This phase's evaluation aspect is
crucial for addressing questions about goals, initial challenges, goal achievement, timelines, tasks, and
assessments. It provides constructive feedback and promotes future performance improvements (Long An
Tran, 2021).
5.2 Importance of the Project Life Cycle in Project Management

The project lifecycle is fundamental to project management, providing a structured framework that
ensures project success. It starts with the Initiation phase, where the project's goals and scope are
defined, setting the stage for future decisions. The Planning phase follows, focusing on creating a
comprehensive plan, identifying necessary resources, and scheduling tasks. The Execution phase
then sees the plan put into action, with progress closely monitored.

Each phase helps define and group related activities and sets conditions for evaluating each stage's
completion. This approach aids in measuring outcomes and allows stakeholders to track the
project's progress. The project lifecycle also facilitates effective communication among team
members and helps determine the completion status of each phase. Critical assessments at each
stage provide valuable information for the management team to adjust strategies and ensure the
project progresses in the right direction.

In summary, the project lifecycle is more than just a timeframe; it is an essential tool that supports
project management from planning to completion.

5.3 Project "Light Up the Countryside" by Vietnam Electricity Group (EVN)

Since its inception in 2006, the "Lighting up the Countryside" project by Vietnam Electricity
Group (EVN) has aimed to provide electricity to households in remote, border, and island areas
not connected to the national power grid. Through careful and complex stages, the project has
achieved significant milestones, improving quality of life and promoting socio-economic
development in these regions.

In the first phase (2006-2010), the ambitious goal was to supply electricity to 1 million
households. EVN secured funding from the state budget, organizations, and both domestic and
international individuals. The second phase involved identifying and listing the households in
need, estimating the budget based on actual conditions, and selecting reputable contractors.
Community support and consensus were vital for the success of this phase.

During the third phase, construction was completed on schedule with high-quality standards.
EVN provided residents with training on efficient and safe electricity usage and installed
electrical systems in each household. The emphasis on safety and economy ensured sustainable
electricity consumption.

In the final phase, the project focused on acceptance, handing over the electrical system to local
authorities for management, and implementing operation and maintenance plans. Close
cooperation between EVN and the local community ensured effective operation and maintenance.
The project has benefited over 1.5 million households, significantly improving quality of life and
promoting socio-economic development in remote areas. EVN has demonstrated strong social
 commitment and responsibility through a project that positively impacts the community (Duc,
2024).

III. Examine and evaluate the factors to be considered when compiling a

project management plan (PMP)

1. What is a project management plan

The Project Manager formulates the project management plan based on inputs from the project
team and key stakeholders. This plan is a formal, approved document that specifies how the project
will be executed, monitored, and controlled. It can vary in detail and may encompass baselines,
subsidiary management plans, and other planning documents. The plan outlines the strategy the
project team will follow to achieve the project's management scope.

During the project's execution, its performance is gauged against the performance measurement
baseline defined in the project management plan. This baseline includes the scope baseline,
schedule baseline, and cost baseline. Should any deviations from the baseline occur, the Project
Manager addresses them by making necessary adjustments. If these adjustments are insufficient,
formal change requests to the baselines are required.

Project Managers invest considerable time in ensuring the baselines are met, thereby delivering
full project benefits to the sponsor and the organization. Beyond thorough planning, a Project
Manager's expertise also involves efficiently controlling the project, ensuring deliverables are
timely, and completing the project as outlined in the project management plan.

2. The factors to be considered when compiling a project management plan

2.1 Determine the Project’s Baselines

Scope Baseline: Clearly define the project's objectives, deliverables, and the work required to
complete them. Create a detailed Work Breakdown Structure (WBS) to ensure all aspects of the
project are covered.

Timeline Baseline: Develop a comprehensive project schedule, including start and end dates for
each task, milestones, and dependencies. Use Gantt charts or other scheduling tools to visualize the
timeline.

Cost Baseline: Estimate the project’s budget, including all costs related to resources, labor,
materials, and contingencies. This baseline should be as detailed and accurate as possible to
prevent budget overruns.

2.2 Assess the Consequences of Project Failure

Identify Dependencies: Determine the sequence of activities and dependencies between tasks.
Use tools like Critical Path Method (CPM) to identify critical tasks that could delay the project.
Risk Assessment: Evaluate the risks associated with failing to meet project goals. Develop a risk
management plan that includes potential risks, their impacts, and mitigation strategies.

Contingency Planning: Establish contingency plans for high-risk areas to address potential
roadblocks and delays promptly.

2.3 Select Key Stakeholders

Stakeholder Analysis: Identify all stakeholders, including project sponsors, team members,
clients, and any other parties affected by the project.

Stakeholder Engagement Plan: Develop a plan detailing how and when to communicate with
each stakeholder. Identify key decision points and the stakeholders who need to be involved at
each stage.

Roles and Responsibilities: Clearly define the roles and responsibilities of each stakeholder to
ensure everyone understands their involvement in the project.

2.4 Identify Key Milestones

Define Milestones: Break down the project into major phases or deliverables and establish clear
milestones. These milestones should be SMART (Specific, Measurable, Achievable, Relevant,
Time-bound).

Progress Tracking: Implement a system to monitor and track progress against milestones.
Regularly update stakeholders on milestone achievements to maintain transparency and
accountability.

Celebrate Successes: Recognize and celebrate the completion of milestones to keep the team
motivated and engaged.

2.5 Define Responsibilities

Resource Allocation: Identify the skills and resources required for each task. Allocate resources
efficiently to ensure optimal use and avoid overburdening team members.

Task Ownership: Assign specific tasks to individuals, ensuring each task has a clear owner
responsible for its completion. Use tools like RACI (Responsible, Accountable, Consulted,
Informed) charts to clarify roles.

Performance Monitoring: Regularly review task progress and performance. Provide feedback
and support to ensure tasks are completed on time and to the required standard.
IV. Examine and evaluate a range of research methods and strategies and
their importance to project management.
V. Produce a detailed PMP that covers aims, objectives, deliverables,
quality, risk, communication, resources and research method
1. Aims
The project “How to opening a to-go coffee model with biodegradable paper cups”