Successful Implementation Of The Fitouts Project: Analysis And Interpretation

Analysis of cost variance and schedule variance

Discuss about the Successful Implementation Of The Fitouts Project.

This report depicts and emphasizes the role and impact of leadership behavior and management in a project. After analyzing the details of the project requirements it has been found that for the successful execution or accomplishment of any project it is necessary for the project manager to consider all needful factors. The project has lead to major failure due to certain issues and all those issues are identified in this report. It has been found that, for successful accomplishment of any project the project managers play vital roles.

In order to define the role of the project managers all necessary project circumstances are identified in this project. During the project development phase the project manager left the project and as a result a new project manager has been hired who again considered different project management elements and factors those are related to the current status report of the project. It is also determined the successful deployment of the office Fitouts project it is necessary for the project manager to consider needful factors. The details of cost variance and schedule variance are also illustrated in this report. For the perfect flow of the project different facts associated to the project are also needed to be considered and applied by the project manager and those are also elaborated in this report.

The cost variance and schedule variance details are elaborated below:

Budget at completion (BAC) for the Fitouts project=$1200000.

Planned completion for Fitouts project

Project planned= average completion of the floors (four)

= (100 % + 50 % + 50 % + 0 %) / 4

= 50 %

Actual cost

Actual cost of the project= $675,000

The actual completion of the project can be defined as the average of the four floor completion till current date

= (75 % + 25 % + 25 % + 0 %) / 4

= 31.25 %

Planned value

Planned value of the Fitouts project can be calculated through the following formulae:

Percentage of planned completion *Budget at Completion

= 50 % X 1,200,000

= $ 600,000

Earned value of the project

For the Fitouts project the earned value= percentage of actual completion * Budget at Completion

= 31.25 % X 1,200,000

= $ 375,000

Cost variance

The cost variance of the project= Project earned value- the actual cost of the project

Project interpretations

=EV-AC

= $ 375,000 – $ 675,000

= $- 300,000

Schedule variance of the project

Schedule variance (SV) = Earned value (EV)- Planned Value (PV)

=EV-PV

= $ 375,000 – $ 600,000

 = $- 225,000

After analysis the details of the schedule variance and cost variance of the project it has been found that the cost variance (CV) value for the Fitouts project is negative it implies that the currently the project id within the estimated budget. At the same time the schedule variance (SV) of the project is also negative which implies that the project is not at all maintaining the project track rather it is undergoing slowly. Thus the project is not expected to be completed within the allotted time period. Instead of fast successful completion of the four floors the project is lagging much behind. Thus, in order to avoid these issues the project manager is required to consider all necessary factors and business operational and functional strategies simultaneously. It has been assumed that, if the entire necessary factors are assigned then the project will be able to meet the project objectives successfully. In addition to this, the project timeline deflection reflects that the necessary project management factors are not considered by the project manager thus he or she must adopt considerable factors to evaluate the project successfully. In order to reduce the work pressure from the new project manager and the project team members it is necessary for the project manager to segment the total work in small parts. Based on the skills and knowledge of the project team members it is necessary for the project managers to consider all the necessary phases. The project milestones are to be reviewed by the new project manager also so that it can successfully meet the project requirements. It is also expected that if the new project manager successfully evaluate the phases then the project manager will definitely deliver successful outcome to the consumers.

Besides the above mentioned elements there are certain additional requirements those are again needed to be incorporated by the project managers. The project status report should incorporate the executive overview to the project for introducing the project identifiers. In order to identify all possible project strategies the project manager should identify, define and consider necessary project management factors. Proper implementation of project elements and factors may improve the project quality and project consistency. A project summary is needed to be introduced by the project manager to successfully complete the project requirements. The current percentage of work and the completed percentage of work are also illustrated in this report. While designing the project, the start date and the finish date of the project are also required to be set properly. It is expected that, the project should not be

Listing additional information

Leadership behavior is referred to as a phenomenon that must be possessed by the project managers and the project team members of the Fitouts project. Proper leadership will lead the project team members to define innovation and creativity in a project. Leadership is one of the most critical and influential element for the successful implementation of the projects. The leaders associate to any project must have the ability to influence, motivate, communicate etc.  For the successful implementation of any project leadership acts as a catalyst. It means that successful leadership increases the speed of the project or helps the project manager to complete the project faster than the estimated time phase on the other hand, bad leadership de-motivates the project team members as a result vast delay may occur.

Organizational zoo model uses the metaphor for describing the behavior of the individuals within the work place and reflecting on the activities, capabilities, capacities and other behaviors. It describes the various characters and levels of the individuals contributing in the growth and development of the organization. The model describes the lowest characters as ‘ant’, and highest as the ‘whale’ with having dominating nature including the middle individuals. In between the ant and the lion, there are three more metaphors pointing towards the bee, eagle, and lion those can be utilized for coaching, team dynamics, development of the organizational values, and the conflict resolution. These metaphors and the practices described in the zoo model can be helpful in identifying the knowledge management, sharing,leadership, managerial and other behaviors of the individual being analyzed.

The new project manager should be capable of handling the constraints of the project and managing the stakeholders involved in the project that can be utilized in enhancing the overall performance of the organization. The project manager should have all the properties and behaviors however; the special characteristic that can be stated as the most essential character includes the ‘lion behavior’ and should have the capability to carry others on the same boat. The project manager should pas all the metaphors and behaviors emphasized in the organizational model in manner to handle this project. He or she should must have the communication skill in manner to assure that every stakeholder listen to him and objectives of the organization accomplished in far better way.

The manager of the team has some of the property of the ‘lion’ however; he does not qualifies the other major characters and characteristics of the organizational zoo model and hence, can be stated as not suitable for the project.  He does not had the property of being collaborative and the project manager definitely does not passes the organization zoo model behaviors. Other than the manager, rest of the team members were collaborative and laborious however; they does not show the behavior of taking a stand or talking to the manager and stopping him from taking bad decisions.

Leadership behavior

Conclusion and recommendations

Based on the above report it can be concluded that the facts being presented in the above report describes many latent factors of the project those should be considered while delivering the project in successful and efficient manner. The above report describes the factors related to the project including schedule and cost variance that described how the project was manipulated by the previous manager and what are the considerable steps those should be taken while delivering the project in successful and efficient manner. The leadership and managerial behavior of the previous manager has been analyzed considering the organizational zoo model that described that the project manager was not suitable for the project delivery. Since, previous manager has left the project in the middle, the new project manager should have the characteristics proposed by the organizational zoo model.

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