Advance Project And Risk Management Assessment

Advance Project And Risk Management

Introduction - Advance Project And Risk Management

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Advance project management refers to the project management that generally includes the regulation of the project by using advanced technology. In the case of project management, the risk management factor is very crucial in regulating the project successfully. Risk management generally refers to identifying the probable risk factor that may happen during the project. Risk management is very necessary as it minimizes the risks of the projects and thereby ensures that the project is completed within the expected time. It also ensures that the main objectives of the project are fully achieved. Advance projects and risk management are completely related to each other.

Project Schedule

A project schedule generally highlights the scheduling of the project, which includes a detailed list of the deliverables, activities and milestones within the project. The project schedule also includes the start and finish date, resources and duration assigned to each of the activities (Crawford, 2021). In this particular case, the project is about delivering prescriptions and drugstore items by flying drones. The estimated starting date of the project has been determined by February 2022, and the expected date of the project ending has been determined by November 2022. The nine months are expected to complement the project. The company has divided the time schedule according to work, further including the distribution of the task according to their priority. According to the theory of project scheduling, a problem involves the scheduling of project activities that is subject to precedence and resource constraints (Mizuno and Bodek, 2020). In the context of this particular project, all activities and the planning of the project are scheduled at the very beginning. Then the probable resource allocation is done by evaluating all factors associated with the project. The proper identification of where the delivery will be done and how the process will be succeeded are enlisted in the project schedule.

Network Diagram

Gantt Chart Critical path

Time Phased Budget

Time phased budget generally refers to a special kind of budgeting that indicates the planned expenditure of the budget over time.

It is generally used for project advancement, and it is very much needed in accomplishing the project successfully. The total cost of the time-phased budget that is evaluated in this particular project is $65, thereby indicating that financial resources have been appropriately used for the submission of quality projects within time.

Project Progress: evaluation

This particular project that is associated with delivering the drugstore items and prescriptions is considered to be one of the vital projects of the company. As it is one of the new approaches to the company, there are very crucial factors that happened during the process of accomplishing the project (Bondarenko et al. 2018). At the very beginning of the project, the company faced a lot of hindrances. One of the major hindrances was selecting the right and proper way to make a drone. In the process of creating the design of the drone, there were a lot of controversies among the designers within the company. The head of the designer team then collected all the opinions of the employees and amalgamated all the data together before selecting the final decisions (Tereso et al., 2019). There was another problem that happened during the project control was delivering the medicinal equipment and the prescription in a remote place in the country. It sometimes happens that the drone was not properly locating the address of the particular location of the shop. This problem was solved by the efficient engineering of the economy (Svejvig, 2021). The project manager amalgamated all the engineers and made a group of fourteen people to solve this particular problem. Another problem that happened during the project was managing the budget problem. A shortage of budgeting was found during the process. The budget management department of the company efficiently handled it by issuing some extra budget.

Project closure checklist

The project closure checklist highlights that all the deliverables of the project are met after project submission. Furthermore, project closure further highlights that all the needs of the stakeholders are met after project submissions (Willame et al. 2021). The project checklist includes a wide range of activities from risk identification to resource allocation and stakeholder identification for ensuring all the steps are net while doing the project. A checklist within the project further ensures that all the steps are met without the omission of any vital steps. The project checklist helps in the qualitative submission of the project within the deadline. In the context of the drone service, the project closure checklist included a broad range of activities to ensure that the quality of the project was met thoroughly.

Conclusion

Project management is one of the vital steps that serve to be beneficial in identifying the project risk at the beginning and implementing strategies for submission of the project in the most effective manner. The current study in context to project management of Drone development providing delivery of prescription and drug at the stores serves to benefit in timely delivery of the medical products to the shops. Furthermore, risk identification within the project highlights the occurrence of the quality risk and technical risk that would further hamper the project delivery of the time. However, it is vital to ensure that robust planning has been done during the project initiation phase to ensure all the risks are effectively managed and mitigated.

Recommendation

The company should take certain steps in order to improve its services for future growth and development. As this particular project was a new approach for the company, the company needed to work on some specific issues.

• The company should include more advanced technologies in order to prevent the difficulties that were happening during the delivery of the medical equipment in the shops.
• The company should use more specialized cameras within the drone in order to clearly locate the shops from a distance (Zhou and Yang, 2020). This will further help the drone to correctly deliver all the medicinal things and prescriptions in the shop in time.
• The company also gives emphasis on the views and opinions of the employees as it is a new project of the company and various opinions and views that generally arise during the project. The company should accept and evaluate all the opinions of the employees. Furthermore, it will help the company to include many different ideas about the improvement of the project for the future.

References

Books

Crawford, J.K., 2021. Project management maturity model. U.S: Auerbach Publications.

Mizuno, S. and Bodek, N., 2020. Management for quality improvement: The seven new QC tools. UK:Productivity press.

Journals

Bondarenko, S., Lagodienko, V., Sedikova, I. and Kalaman, O., 2018. Application of project analysis software in project management in the pre-investment phase. Journal of Mechanical Engineering and Technology, 9(13), pp.676-684.

Tereso, A., Ribeiro, P., Fernandes, G., Loureiro, I. and Ferreira, M., 2019. Project management practices in private organizations. Project Management Journal, 50(1), pp.6-22.

Svejvig, P., 2021. A Meta-theoretical framework for theory building in project management. International Journal of Project Management, 39(8), pp.849-872.

Willame, C., Dodd, C., van der Aa, L., Picelli, G., Emborg, H.D., Kahlert, J., Gini, R., Huerta, C., Martín-Merino, E., McGee, C. and de Lusignan, S., 2021. Incidence rates of autoimmune diseases in European healthcare databases: A contribution of the ADVANCE project. Drug safety, 44(3), pp.383-395.

Zhou, S. and Yang, P., 2020. Risk management in distributed wind energy implementing Analytic Hierarchy Process. Renewable Energy, 150, pp.616-623.