Explain the relationship between project planning and the controlling of budgets and time schedules in project management.

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Element 011 COURSEWORK 2000 WORDS (80%)
Task: Individual assignment
Weighting: 80%

Due by 2pm on Friday 11 Dec 2020

Submission via Turnitin

Project Management Case Study

New Project Planning Approach at The WiseBuild Company

(A fictitious case study for learning purposes)

Project Overview

Your role in this case study is that of the new Chief Project Planning Manager (Senior Project Officer) responsible for project planning methods for all projects at The WiseBuild Company. You are reporting directly to the Chief Executive Officer (CEO) and the Chief Financial Officer (CFO). You are tasked to find out how a new project planning approach can lead to better cost plan and improved project performance. When you told your best friend about your new job he gave you the book of Harvey Maylor about “Project Management” as a gift.

The WiseBuild Company is a leading company delivering projects and consultancy in the field of construction of large buildings and infrastructure. Customers are both from the public and private sector. It is located in the capital and has a proven history of successful projects for international customers. It has more than 250,000 employees.

The WiseBuild Company has decided to advertise the position of Chief Project Planning Manager for which you have applied successfully. Your first task is to write a study focusing on cost evaluation and an introduction of a new project planning approach. This report is expected to serve as an input for the discussions at the board of directors. This has become a critical issue as several key suppliers of the company have required to coordinate their planning activities with those of your company.

For The WiseBuild Company, the stated objectives of your report are:

Explain how the different approaches to costing can benefit cost planning in a project;
Suggest several specific project planning techniques for improved project performance;
Evaluation several risk management approaches in project planning for improved project performance; and
Explain the relationship between project planning and the controlling of budgets and time schedules in project management.