PROJECT PLAN AND REPORT Coursework Example | Topics and Well Written Essays - 1750 words

PROJECT PLAN AND REPORT - Coursework Example It was also recommended that while planning the project, optimum utilization of resources should be done, the timeline is strictly followed and part-timers are recruited, so that the recruitment cost is reduced. Table of Contents Executive Summary 2 INTRODUCTION 5 Background 5 Scope of the Project 7 Method of Collecting Information 7 Limitations 7 DEVELOPING AN ONLINE CHRISTMAS GIFT STORE 7 Project Objectives 7 Products 8 Resources Required 8 Strategy and Implementation 9 Stakeholder Analysis 10 Risk Analysis 11 Milestones 13 Conclusion 14 Recommendation 14 References 15 Appendices 16 Appendix 1 16 INTRODUCTION Background Project planning is the science and art of utilizing the historical data, personal expertise, organizational knowledge and the project scope to depict the resource expenditure, cost, and the duration of a project. It also includes the development of guidelines in order to ensure the service quality, response to unfavourable events and commencing with the inevitable changes in the plan prepared for the project. In order to arrive at the estimated duration and cost of the project, the project manager identifies the numerous physical elements and activities that are necessary to meet the objectives of the project (Rad, and Anantatmula, 2005, p. 1). On the basis of this information the project manager estimates the requirements of the resources and the time length of the project. However, the estimation of the resources is done along with their cost estimation, as it is a valuable piece of information for the project team. The estimates of the resource are reduced to the cost. This is because total cost is more important information for the client. The project manager then finally computes the costs and completes the total estimation of the report (Haugan, 2002, p. 4-5). There are many different steps or stages through which a project passes to its completion or closure. Those set of stage would be described in this study through the development o f an online Christmas gift store. Since Christmas gifts are sold before and during Christmas, so this online store opening, launching and operations can be considered a project, which would be described in detail based on the phases that would be described here. The different phases or stages in a project plan are: Defining: Before initiating the project the project manager should determine the goals of the project, ascertain the scopes, risks, budget, cost, timescale, and approach. It should also be communicated to the stakeholders of the company, and the difference in opinions should be resolved in the initial stage. Planning: Planning is very important part of any project plan. While creating the project plan, the first task that is undertaken by the project manager and his team is planning the stages and the minute details in the project. Executing: In this stage the project manager and his/her team would be executing or implementing the pre decided activities for the completion of the project on time and according to the design. Monitoring: After implementing the step wise project operations, the manager has to monitor whether the implementation has been done according to the framework designed or not. Controlling: Controlling ensures that the plans have been followed according to the stages decided and set by the project team. Closure: Once all the tasks are complete in the