Project Management Assignment

Project Management Assignment
Samantha Cloud
July 21, 2014
Julia Roberts

Dear Sponsor,
With reference to your mail dated 1st September 2013 regarding the selection of project we have done our analysis and based on our review we recommend to pursue Palomino for future investment analysis. We have arrived at the decision based on our analysis and facts provided by you. The principal differentiator for this project has been the return on investment and risk involved. Our detailed analysis is presented below:
Five phases of the Project
                                                                                  (Jacobs, F.R., & Chase, R.B., 2011)

1. Project Conception and Initiation: Define Project
An idea for a project will be carefully examined to determine whether or not it benefits the organization. During this phase the feasibility, risk involved and return of investment is actually analysed. This phase we are right now in and will require a detailed feasibility study before making the final investment decision (Jacobs, F.R., & Chase, R.B., 2011).
2. Project Planning
Project Planning is a synopsis of the work needing to be implemented.   This is an important phase and teams prioritize levels of work, budgets are forecasted, schedules and resources are determined. This is the next and most important phase.
3. Project Execution
In this phase teams are briefed of their responsibilities.   Resources and cost are critical for implementation of the execution. Everyone is involved in the execution to ensure maximum output and quality of a finished product.
4. Project Performance and Control
Project managers will compare project status and progress to the actual plan, as resources perform the scheduled work. This is process to keep the project on schedule and within budgeted cost. This also involves quality checks and scope change management.The critical path, cost and quality is to be measured and managed closely for success of...