Name
(Names of all group members, if applicable)
Course Name: MGT2357 Project Management
Date Submitted
All material prepared for this assignment was produced by the author. Material from third parties has been cited.
Dream Home Project - Project Plan
Please use the information and examples provided in this guide to help demonstrate your understanding of the project management industry best practices that appear in the PMBOK®.
Related Course Learning Requirements (CLR)
· CLR 1: Explore the essential characteristics of project management.
· CLR 3: Explore the principles of project scheduling
· CLR 4: Develop project time-phased budgets.
· CLR 6: Explain the basics of project risk management.
· CLR 7: Understand quality and quality management techniques
· CLR 8: Explain basic concepts in project performance measurement and progress evaluation
Assignment Task
A project plan is used guide the control and execution of a project.
Your task is to create the project plan for the Dream Home Project that would be used to help facilitate the construction of your dream home.
Background
· The bank has approved a $300,000 loan to build your dream home.
· The project task table is as follows.
Table of Contents
Dream Home Project - Project Plan 3
Related Course Learning Requirements (CLR) 3
Assignment Task 3
Background 3
Table of Contents 4
Contents 4
Statement of Work 5
Work Breakdown Structure (WBS) 5
Gantt Chart 5
Network Diagram (Critical Path Diagram) 7
Risk Management Plan 8
Management Reserve 8
Risk Register 8
Communication Management Plan 8
RACI Chart 9
Project Budget 10
Bibliography 12
Assignment #2 Grading Rubric (30%) 13
Appendix A – Additional Notes 14
Individual or Team Assignment 14
Third-Party Material 14
Statement of Work
Example
Work Breakdown Structure (WBS)
The WBS is created before the Gantt Chart and the Network Diagram. It shows the project tasks, only. Task dependencies, durations, and resources are excluded. Create a Work Breakdown Structure (WBS) using the Dream House Task Table. Include all the WBS items in the Dream House Task Table.
WBS
Gantt Chart
A Gantt chart is a type of bar chart that depicts the project schedule. It shows task start and finish dates and their interdependencies. Create a Gantt chart using the Dream House Task Table. Include all the WBS items in the Dream House Task Table.
Gantt Chart
MGT2357 Assignment #2
7
Week 1
Week End
Week 2
Week End
Week 3
Week End
Week 4
Week End
Week 5
Week End
1
2
3
4
5
S
S
6
7
8
9
10
S
S
11
12
13
14
15
S
S
16
17
18
19
20
S
S
21
22
23
24
25
S
S
1.1.1 Task A
1.1.2 Task B
1.2.1 Task D
1.3.1 Task G
1.1.3 Task C
1.6.1 Inspection
1.4.1 Task J
1.5.1 Task M
1.3.2 Task H
1.5.2 Task N
1.2.2 Task E
1.2.3 Task F
1.5.3 Task O
1.4.2 Task K
1.6.2 Milestone #1
1.4.3 Task L
1.3.3 Task I
1.6.3 Milestone#2
Legend
Planned Status
Network Diagram (Critical Path Diagram)
A network diagram is used to schedule project activities. The critical path refers to the longest stretch of the activities in the schedule. Create a network diagram using the Dream House Task Table. Include all the WBS items in the Dream House Task Table. Calculate the values for the duration, early start, early finish, late start, late finish, and slack for each item, and identify the critical path for the project.
Network Diagram
Risk Management Plan
Management Reserve
The management reserve is allocated at 10 percent of the total project budget to cater for unidentified risks that may arise in the course of the project. The management reserve allocation is dictated by the level of uncertainty surrounding the project. In this case, the high allocation of 10% is necessary to cushion against unexpected increases in the price of construction materials. Material prices have risen significantly over the past two years, with reports indicating that the price of wood rose by 16 percent, 22 percent for steel, and 15 percent for concrete in 2023 alone (Obando, 2023). The price increases have been occasioned by global increases in energy prices and the Russia-Ukraine conflict that has affected the supply of building materials such as steel. The prices are expected to rise further in 2024 and the management reserves is aimed at cushioning the project against significant price increases that could affect the budget.
Risk Register
A risk register is used to identify project risks, to prioritize them, to estimate their probability of occurrence (e.g., low, medium, high) and their impact if they do occur (e.g., low, medium, high, and to state mitigation strategies (e.g., escalation, avoidance, transferal, mitigation, and acceptance) and responses. Using the Risk Register table, below, enter the primary project risk you identified in the project charter, then enter the data required to manage it.
Risk Register
RISK
PRIORITY
PROBABILITY
IMPACT
STRATEGY
RESPONSE
Communication Management Plan
Communication Plan
INFORMATION
TO BE
COMMUNICATED
FREQUENCY OF
COMMUNICATION
METHOD OF
COMMUNICATION
WHO WILL SEND
THE INFORMATION
WHO WILL
RECEIVE THE
INFORMATION
Project progress and milestones achieved
Weekly
Phone Call/ Email
Project/Construction Manager
Customer
Unexpected challenges such as material shortages and weather disruptions that may interfere with the normal flow of scheduled project activities.
As-required basis
Face-to-face meeting
Lead Site supervisor
Junior project staff
Project/construction manager
RACI Chart
Table 5: RACI Responsibility Assignment Matrix
TASK
CUSTOMER
PROJECT MANAGER
LANDSCAPE
HOUSE
STRUCTURE
INSIDE WORK
INFRASTRUCTURE
MANAGEMENT
INSPECTOR
1.1 Landscape
1.1.1 Task A
I
A
R
C
C
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