Budget and allocation of resources in Project Management

Budget and allocation of resources in Project Management

The total cost of the project will be $1500. It includes the cost of all resources required in the project such as human resources and material resources (Toornend, 2009). Below is the table in which resources are allocated for project management assignment help with the cost of the resources.

Tasks Category Cost Resources
Preparation Preparing material $50 Project manager and Team members 
Debarking Debarking tools $70 Team members
Cooking Cooking tools $50 Team members
Slicing/ Peeling Slicing tools $80 Team members
Drying Drying machine $70 Team members
Quality check Expert’s charge $100 Quality expert
Clipping Clipping tool $70 Team members
Splicing and designing Splicing and designing machine $900 Team members
Packing Packing material $60 Team members
Total $1500

 

Timelines

Below is the Gantt chart of the wood unit and kitchen surface project. Different steps are required for designing the wood unit and kitchen surfaces. These steps take different times for their completion. With the help of the Gantt chart in economics assignment help, the timeline of the project will be shown below:

Timelines

A Gantt chart helps the project manager to see the progress of the project so that he can ensure whether the project will be delivered in a given time or extra time will be required for the completion of the project. The above Gantt chart includes four fields namely Task, Progress, start, and end date of the project. Next to these fields, the timeline of the project has been given.

Risk management

Risk management is the process of identifying, assessing, and controlling the risks in a project. Every project has some risks that affect the success or performance of myob assignment help of the project. It is the responsibility of the project manager and the organizational manager to manage these risks for the successful completion of the project. Below is the process of risk management that include five steps:

Risk identification:

The first step in risk management is to identify the risks. Risk identification is a positive experience in which the whole project team can take part and learn from it. Ask each project member to identify risks that they have experienced before or may experience in the future in the project. Once you have identified risks in the project, you can list these potential risks with the operation management assignment help of a risk breakdown structure and organize these risks according to the level of detail. The most high-level risks should be listed at the top of the list while the more granular risks are listed at the bottom of the list (Indrawati et al., 2018). Some of the risks that have been identified by the project manager and his team members in the wood unit and kitchen surfaces project include Squashed wood, Wood fall, finger cut by sharp material, exposure to paint, fingers cut off by the machine, material collapse, eye irritation and respiratory disorders, hands slashed by machine and kickback of the wood being cut. Once the possible issues are identified, develop a project risk for tracking and monitoring the risks throughout the project. The project risk register includes the potential risks of each project.

Risk analysis:

Once the risks have been identified, the next step is to analyze these risks. This will identify the occurrence of the risks and their possible impact on the project. The project manager and the work team will estimate the fallout and probability of each identified risk to prioritize the risk. Some of the factors that play an important role in accurately analyzing each risk include time lost, loss to the organization, and severity of the risk.

Risk prioritize:

In this step, the prioritization of risks begins. The risks identified in the first step will be prioritized based on the likelihood of happening and its potential impact on the project. This step helps the project manager to identify which risks need to be resolved first so that the project could be protected from its impact. In this way, the project can not be interrupted in significant ways.

Risk treatment:

Once the most dangerous risk comes to light, you need to dispatch the treatment plan. although, all the risks can not be treated risks can be mitigated based on their priorities. For example, the risk of eye irritation and respiratory disorder can be mitigated by using wearing personal protective equipment such as goggles. Start with the highest priority risk and assign the task to the work team to either resolve the risk or at least mitigate the risk so that it will no longer remain a threat to the project. 

Monitor the risk:

The most important part to monitor the potential threats in the project is to establish clear communication among team members (Lucid Content team, 2021). In this phase, the mitigated risks and the existing risks are monitored to identify their impact on the project. 

Drying:

The next step after slicing is drying in which veneers are mostly moist and dried in a jet drier. This also has the effect of flattening them (Aaren, 2016).

Quality check:

The quality expert will assess the veneers for the quality as per the strict quality standards and the client’s requirements. The quality of veneers should be as per the client’s requirement. It is the responsibility of the project management to ensure that the wood units and kitchen surfaces are delivered with a quality raw material used.

Clipping:

The next phase is clipping in which veneers are clipped to obtain rectangular sheets that will be used in making kitchen surfaces. Once the sheets are obtained in rectangular dimensions, they are put through the glue machine for bonding the edges of the veneers.

Splicing and designing:

Once the rectangular sheets are designed, veneer matching is undertaken by using the application of heat and pressure to ensure that a consistent match is obtained. By making use of these veneers, the kitchen surface is designed as per the client’s requirements.

Packing:

The final step of the wood unit and kitchen surface project is packing the designed units with protective polythene so that the client will get the undamaged material.

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