Project Management Essay Example | Topics and Well Written Essays - 2000 words

Project Management - Essay Example s paper outlines the activities that can be involved when building a new house. This initiative has been underscored after realizing that it is wise to build a personal house than rely on rented accommodation. There are various factors such as financial issues that are involved in this work. It is also important for the individual involved to procure the place to build a house first before undertaking any construction work. The paper is divided into different categories that outline the different phases that can be involved in building a house. Business case: Financial and other considerations The business case involves building a house and the set budget for completing this project is ?25Â  000. However, a supplementary budget of ?5Â  000 has been set aside for this particular project. In order to complete this project there are different considerations that ought to be taken into account. There is need to procure raw materials that can be used in carrying out this project. There is also need to hire contractors who can execute this particular task. Planning assumptions and external constraints As is often the case when a project needs to be completed, proactive steps such as research, planning, communication, and review are often seen as basic tenets of project success (Josler & Burger, 2005). Basically, the term project is used to describe a set of activities that are linked and they are directed towards the attainment of a certain goal (Hellriegel 2001). A project can also be described as a onetime activity with a definite start and finish. As such, through utilization of project management methodology, a project can be completed within the expected time frame, on budget as well meeting the expected standards that satisfy all the stakeholders who may be involved. In this case, the baseline of the project is to carry out a feasibility study to establish if the project can be manageable. This is followed by outlining the cost and benefit analysis of the pro ject where the objectives are also set. When planning a project, the steps needed to obtain the goals of a project need to be outlined since this gives the team members direction to follow. A risk assessment ought to be carried out. In this case where a project involving the construction of a house is being undertaken, there are external constraints that can be encountered. As discussed in detail below, it can be noted that some of the external constraints may include the unprecedented changes in the price of raw materials used for building the house. Fluctuating labour costs can also affect the project hence the need to put contingency plans in place in order to deal with such a scenario. Options considered There are various external constraints that are likely to be encountered when carrying out a project. However, certain measures ought to be implemented in such a scenario. The last part of the paper outlines some of the contingent measures that can be implemented in case of chal lenges that can derail the progress being encountered. Benefits of building own house There are many