Different Type of Feasibility Studies
Discuss about the Project Quality Management Plan for Communication Exchange.
The potential of the project is evaluated through a feasibility study for making the project successful. Communication exchange information from one point to another point in a project management. Communication is very important in project management as it is the essential tool in managing the project. The project success depends on the communication network efficiency. The paper discusses the importance of communication in a project, to overcome the obstacle while communicating, there required a steps for communicating effectively. The project scheduling management use the tools and techniques that develop schedule process to understand the concepts and implementation of project scheduling tools and techniques. The process of risk management starts with identification that examine the concept of the project with potential risks threatening the project process and outcome. At the analysis stage, there is an option for the risk to control. The strategies for risk management control include Avoidance, Acceptance and Mitigation which is discuss in the technique for potential risk control section below.
In a project management there are five areas of feasibility studies:
Economic Feasibility: The economic feasibility gives resources to the company and it measures the cost that is incurred for the development of the new system. It is a cost benefit analysis as it determines the total cost for the new system development and it also derive some benefits from that system (Cascetta et al., 2015). The credibility of the project is enhanced and independently serves the project assessment. The economic benefits get determine by decision makers.
Scheduling Feasibility: This is the important part for the success of the project or else the project get fails when it is not completed at the given time. Scheduling is completely based on time and it measures the available time for the project (Kuhpfahl & Bierwirth, 2016). The organization will estimate the time for completing the project.
Operational Feasibility: The operational feasibility measures the solving capability of the companies’ problems and there are opportunities presented on the project course. There is certain problem that are identified in the project and provide solution based problems that are measured for a project or for the organization. Analysis has been done for the proposed system for the existing system of the users.
Legal Feasibility: The project that are undertaken meet the ethical and legal requirements. The project has proposed a conflict which is investigated through the legal feasibility assessment (Guo, Bi & Liu, 2018). This requirement are the data protection acts, zoning laws or social media laws. Suppose a building for a new office is constructed in a specific location. The ideal location of the organization reveals the legal feasibility study. The time and effort has been saved considerably as the project could not be feasible from the start.
Importance of Project Communication Management
Technical feasibility: Technical feasibility undertake the technological resources of the project. The success of the project procedures and processes are conducive. The technical feasibility identifies the technical resources that are efficient to manage the input and output devices for amount with large data. The existing system of the hardware and software could be measured to support the system that has been proposed. Budget is one of the constraint given where the availability of the technology is being checked.
The Project Communication Management is important to get start the project with solid communication plan. There is basic strategy given for a project that need successful communication. The verbal and non-verbal language of the body transmits a message that have effective communication. Diversity leads to more ideas and has creativity with higher levels, more choices and options are given to the organization which result in better outcome with better products and services. Communication can sometime create a situation that can be complex and challenging. Perspective and experiences of a person may vary as words that may be appropriate to one person may be offensive to the other. Knowledge could be gain through effective communication and develop a group of team having positive work relationship.
- Receiving information: Information has to relay with the project managers were the given project access the information. Stakeholders may anytime need project information in which it may have plans, objectives, time constraints, customer needs and risks. Delays and Misunderstandings can be prevented that have focused and regular communication which may cause project failure.
- Discussing problems: For every problem, a fish bone diagram essentially solves the causes.The communication can be done in various forms apart from fish bone diagram, it can be through pie chart, infographics, linear/bar graphs, comic and more. There is a need of developing more skills on effective communication.
- Relaying information: The project manager ensures that the stakeholders and the team members are informed of what the organization expect from the team and the stakeholder. The time constraints and the roles and responsibilities which prevent on accomplishing task on time. For a project manager it is important to keep informing the team about the details of the project and also about the progress of the project.
- Bridging the language gap: The understanding of the benefits of the business could be hinder when there is a language gap. Information can be deliver using languages that are challenging as it is often unclear and contains jargons that are filled with project management. This give the information about the importance of project communication. Communication means interaction or being able to talk or speak. In any project management, understanding the long-term goals of a business by the team to know about the contribution and learn to make an impact. The success of the project completely depends on effective communication which is very important for any project. When communication get improve the success get maximize and the risk get minimize. Additionally, effective communication that is develop by project manager along with stakeholder may mean more projects for the team.
- Change in situation: The project manager requires to face the challenges from the project start till the completion. The project manager fluid the projects which need to get prepare for the challenges and has to face from the start till the closing of the project. Throughout the team and the project effective communication it has been developed to ensure at the start of the planning stage that needs to develop a communication plan. During the meetings that are specific there are certain communication plan that required communication during the specific meetings, communication frequency needed, and the communication of those that are needed.
The Project Scheduling Tools and Techniques that are used in developing the schedule process are as follow:
Critical Path Method (CPM): The project schedule of the network diagram has the path with longest duration which is the Critical path and it use the method call Critical Path Method (CPM) (Chang, Yu & Cheng, 2017). The critical path delays the activities through which the whole project get delay. It finds the project activities that are of high risk, activity float and the end date of the project (Nafkha & Wili?ski, 2016).
Critical Chain Method: Project dependencies consider the Critical Path Method (CPM) cross which the resources are available for the project duration. The project team gets the durations of the activity that implicitly buffers every activity which is unethical with the increase project cost.
Schedule Compression Techniques: The project schedule uses the crashing and fast tracking as the techniques for schedule compression. Schedule Compression techniques is the part of the Project Scheduling tools and techniques and are handy to shorten the schedule for the project manager (Tomek & Kalinichuk, 2015).
- Crashing: It is the part of the schedule compression techniques where multiple resources are added to the activities that has shorten the schedule.
- Fast Tracking: It identify the activities running in parallel portion or schedule extent.
Resource Optimization Techniques: In initial project scheduling, activities sequence is focus with their dependencies which is an unrealistic resource requirement. Resource optimization techniques can be applied to utilize the resource planning across the schedule based on the organization policies (Gamarra & Guerrero, 2015). Two of the resource optimization techniques are
- Resource Leveling: It develop the project schedule process that optimizes the resource technique. The resource constraints are applied by the resource leveling on the activities of the project depending on the start and the end date of the activities (Cheng, Prayogo & Tran, 2015).
- Resource Smoothing: There are some resources that are overly used during the project schedule. The overall limits of the threshold met the resource demands, resource leveling that have not balanced with resource supply. Resource smoothing ensure the balance of the demand of the resource over the time period which consider the resource supply (Havur et al., 2016). Hence, the needs of the project manager to see the floats or slacks available across the activities and with it the technique of resource smoothing was applied keeping into account the it should not impact the project schedule (Gilat et al., 2015).
Project Schedule Management Tools and Techniques
The technique of risk control process determines the potential impact of the risks. The potential cost, time and effort of the risk control strategies has expended wisely (Hajmohammad & Vachon, 2016). The strategies that were included in the risk management and control are
- Risk Acceptance: Risk get acknowledge, but the action of risk could be avoided or mitigated. This risk could be time consuming or too costly. There may be another possibility that risk could not be mitigated or avoided and the benefits of the risks of the project were outweigh.
- Risk Avoidance: Action has to take in order to eliminate the risk. Based on the circumstances, the scope of the project need to change, the project plans need to modify, hire some additional resources, or adopt technical solutions that are different. Project deliverables could be achieving were avoidance become costly (Bromiley et al., 2015).
- Risk Mitigation: Action has to take to minimize the potential impact of the risk that was given by analyzing and considering alternative solutions which has a combination of avoidance and acceptance (Yoon et al., 2018). Plans and schedules can alter and specific actions are taken to minimize the chances of occurring a risk. The benefits of mitigation cannot be realized without some expense in terms of equipment, time and staff resources.
In every process, there is a starting point to view the options in a structured manner, making the decision is easier and even justifiable. A given risk is avoided, accepted, or mitigated by varying the issues, circumstances and specific needs. In the process of risk management, risk control put every effort to mitigate and control the risk in terms of resources, money or time (Teixeira et al., 2015). Before taking action to avoid, accept or mitigate, the cost of it are considered carefully. With value, overall priority and project needs, the strategies to control the risk are carefully aligned (Clothier & Walker, 2015). Further, while considering the strategies of controlling the risk, the risk could have an impact on the project which ensures well placed control efforts.
Conclusion
The paper will conclude with different types of feasibility study that evaluates the success of the project potential. The organization determine the technical feasibility which involves the evaluation of the software, hardware and other technology requirements. The project cost or benefit analysis involves the cost, viability and benefits that are associated with the project before allocating the financial resources.
In this paper, communication is suggested to be the key for the project success. The process of communication, importance of communication, an effective plan for communication, steps for keeping alive the communication, are all discussed in the paper.
There are several tools and techniques that are used for developing the project scheduling process which is part of the knowledge area of time management. The study contains the important project scheduling tools and techniques which are very handy to shorten the project schedule by the project manager. The paper has also show in what way the project manager uses resources optimization techniques to balance the demand of the resources. Further, there are other tools used in developing project schedule.
References
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