ASSIGNMENT
SOLUTION:
Introduction to Project Management:
Good morning, class! Today, we are going to learn about Project Management. In simple terms,
Project Management is the process of planning, organizing, and executing a specific project to
achieve a particular goal. It involves breaking down complex projects into smaller, manageable
tasks, assigning responsibilities to team members, and ensuring that the project is completed within
the set budget, timeline, and quality.
The main purpose of Project Management is to ensure that a project is completed successfully by
managing resources, stakeholders, and risks. Project Management is an essential skill for any
business or organization that aims to deliver a successful project outcome.
Who is involved in Project Management?
Project Management involves a team of individuals with specific skills and expertise who work
together to deliver a project successfully. This team includes the project manager, who is
responsible for overseeing the entire project, and the project team, who are responsible for
executing the tasks and achieving the project objectives.
Why is Project Management important?
Project Management is important because it ensures that a project is completed successfully within
the given budget, timeline, and quality. It enables organizations to deliver projects that meet the
expectations of stakeholders and achieve the desired outcomes. It also helps to mitigate risks and
uncertainties associated with the project.
How does Project Management work?
Project Management involves a structured approach to planning, executing, and controlling a
project. It follows a specific process that includes:

Defining project objectives

Developing a project plan

Assigning tasks and responsibilities to team members

Monitoring project progress

Identifying and mitigating risks

Evaluating project outcomes
Example of Project Management in Action:
Let us take an example of a common event, buying a car. Buying a car can be a significant project
that requires careful planning and execution to ensure a successful outcome. A project manager
can help in managing the project effectively. Let's see how.
Scenario with Six to Eight Tasks:
Task 1: Determine the Budget
The first task in the buying a car project is to determine the budget. The project manager needs to
identify the amount of money available for the purchase and what additional expenses may be
incurred.
Task 2: Research Cars
Once the budget is identified, the next task is to research cars that fit within the budget. The project
manager needs to identify the car's make, model, and features that meet the buyer's needs.
Task 3: Visit Car Dealerships
The project manager needs to schedule visits to car dealerships to test drive and compare different
cars. This task requires coordination with the car dealerships and the buyer to schedule
appointments.
Task 4: Negotiate the Price
After identifying the desired car, the project manager needs to negotiate the price with the car
dealership to ensure that the buyer gets the best deal.
Task 5: Obtain Financing
Once the price is negotiated, the project manager needs to obtain financing for the car purchase.
This task requires coordination with banks or financing companies to secure a loan or arrange for
the payment.
Task 6: Purchase Car
The final task in the project is to purchase the car. This task involves coordination with the car
dealership and financing company to complete the purchase transaction.
Task 7: Register Car
After the purchase, the project manager needs to ensure that the car is registered and all necessary
paperwork is completed.
Task 8: Arrange Insurance
The final task is to arrange for car insurance to protect the buyer from any potential risks.
Dependency and Critical Path:
The critical path for buying a car project is the sequence of tasks that determine the shortest time
required to complete the project. The critical path for this project is as follows:
Determine the Budget → Research Cars → Visit Car Dealerships → Negotiate the Price → Obtain
Financing → Purchase Car → Register Car → Arrange Insurance
The PERT (Program Evaluation and Review Technique) and Gantt chart are two common tools
used in project management to visually represent the tasks, their durations, and dependencies, and
the critical path for the project.
Here is a sample PERT chart for the buying a car project:
As you can see from the PERT chart, the critical path is highlighted in red. The critical path
includes all the tasks that must be completed in sequence and determines the minimum amount of
time required to complete the project.
Next, let's take a look at a sample Gantt chart for the buying a car project:
The Gantt chart provides a visual representation of the project timeline, with each task represented
as a horizontal bar spanning the duration of the task. The dependencies between tasks are indicated
by the arrows connecting the bars.
From the Gantt chart, we can see that the total duration of the project is 40 days, with the critical
path taking 27 days. Any delay in the critical path tasks will result in a delay in the overall project
completion.
Here is a sample table that lists the tasks, durations, and dependencies for the buying a car
project:
Task
Duration (Days)
Dependencies
Research car options
3
None
Determine budget
2
None
Find financing options
3
Determine budget
Visit dealerships
5
Research car options
Test drive cars
4
Visit dealerships
Negotiate price
4
Test drive cars
Secure financing
3
Find financing options
Finalize paperwork and payment
6
Negotiate price, secure financing
Conclusion:
In conclusion, project management is a crucial skill for any organization or individual seeking to
achieve their goals efficiently and effectively. By breaking down complex projects into smaller,
manageable tasks and ensuring that they are executed within the set budget, timeline, and quality,
project managers can help deliver successful outcomes.
The buying a car example illustrates how project management can be applied to a common event
to ensure that the project is completed successfully. The sample PERT and Gantt charts provide a
visual representation of the project timeline, tasks, dependencies, and critical path.
Reference:
1. A Guide to the Project Management Body of Knowledge (PMBOK Guide) - Sixth Edition.
Project Management Institute, Inc. 2017.
2. Project Management for Dummies by Stanley E. Portny. Wiley Publishing, Inc. 2017.
3. The Project Management Podcast by Cornelius Fichtner, PMP. https://www.projectmanagement-podcast.com/.
4. ProjectManagement.com. https://www.projectmanagement.com/.