PROJ6000_Assessment 2 Brief.Docx Page 1 of 6 ASSESSMENT BRIEF Subject Code and Title PROJ6000 Principles of Project Management Assessment Assessment 2 – Project Selection Methods and Initial Documents...

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PROJ6000_Assessment 2 Brief.Docx Page 1 of 6 ASSESSMENT BRIEF Subject Code and Title PROJ6000 Principles of Project Management Assessment Assessment 2 – Project Selection Methods and Initial Documents Individual/Group Individual Length 1500 words Learning Outcomes Successful completion of this assignment will result in achievement of the following subject learning outcomes: 1. Understand PMBOK knowledge areas and process groups and their role, relevance and impact on project management best practice and PMI's Code of Ethics. 2. Critically compare and contrast project management approaches and their appropriateness for managing a variety of project types. 3. Apply appropriate project management tools and techniques, paying particular attention to risk management. Submission By 11:55pm AEST/AEDT Sunday end of Module 3 Weighting 35% Total Marks 35 Marks Context: A project is a temporary endeavour undertaken to provide an expected and beneficial outcome. A project life cycle is the series of phases that a project passes through from its initiation to its closure. Project goals should align with organisational goals such as improved operations or increased revenues, reducing costs or improving efficiencies. Before resources can be committed to a project, the reason for its proposal and the benefits it is expected to deliver need to be understood by people in positions empowered to make decisions about the expenditure of an organisation's resources. The selection of organisational projects is typically performed through a method of classification and review of the project’s business case. That method of course should be applied consistently to all project proposals. PROJ6000_Assessment 2 Brief.Docx Page 2 of 6 Instructions: For this assessment, you are required to demonstrate your knowledge on different methods used in the project selection and the project initiation process. Throughout the assessment, you will consider the Project Management Body of Knowledge (PMBOK) guide and focus, more specifically, on the initiation documents. Assessment 2: Project Selection Methods and Initiation Documents (35%) In essay writing, use the given/approved project throughout this assessment. As you have discovered in your learning resources, this assessment requires you to:  Carefully Identify and justify suitable project selection methods to the given project  Critically discuss the processes to conduct the above project selection methods.  Consider the Project Management Body of Knowledge (PMBOK) and appropriately describe the initiation process group and project documents that are created or used as inputs for a new project. Your assessment should contain 1500 words. Output and Submission: Submit your completed assessment by the end of Module 3. Learning Resources: Government of Tasmania (n. d.). PM-902 Business Case (Small) Template & Guide. Retrieved from http://www.egovernment.tas.gov.au/project_management/getting_started_in_project_ma nagement Herman, B. and Siegelaub, J. (2009). Is this really worth the effort?: The need for a business case. Retrieved from https://www.pmi.org/learning/library/need-business-case-6730 Laureate Education (Producer). (2013) The practice of project management [Video file]. Baltimore, MD: Author. Learning and Academic Skills Unit. (2016). Academic Writing Guide. APA 6th ed. Sydney, Australia: Laureate Australia. NSW Treasury. (2018). NSW Government Business Case Guidelines. Retrieved from https://www.treasury.nsw.gov.au/sites/default/files/2018-08/TPP18- 06%20%20NSW%20Government%20Business%20Case%20Guidelines.pdf Project Management Institute. (2013). A guide to the project management body of knowledge (PMBOK guide) (5th ed.). Newtown Square, PA: PMI. http://www.egovernment.tas.gov.au/project_management/getting_started_in_project_management http://www.egovernment.tas.gov.au/project_management/getting_started_in_project_management https://www.pmi.org/learning/library/need-business-case-6730 https://www.treasury.nsw.gov.au/sites/default/files/2018-08/TPP18-06%20%20NSW%20Government%20Business%20Case%20Guidelines.pdf https://www.treasury.nsw.gov.au/sites/default/files/2018-08/TPP18-06%20%20NSW%20Government%20Business%20Case%20Guidelines.pdf PROJ6000_Assessment 2 Brief.Docx Page 3 of 6 Project Management Institute. (2017). A guide to the project management body of knowledge (PMBOK guide) (6th ed.). Newtown Square, PA: PMI. Project Management Institute. (n.d.). Code of Ethics and Professional Conduct. Retrieved from http://www.pmi.org/About-Us/Ethics/Code-of-Ethics.aspx Wysocki, R. K. (2014). Effective project management: Traditional, agile, extreme (7th ed.). Indianapolis, IN: Wiley. Document: Guidelines for Statement of Work (PDF) Assessment Criteria: The assessment will be graded using the Learning Rubrics below and is worth 35% of the total for the subject. http://www.pmi.org/About-Us/Ethics/Code-of-Ethics.aspx https://laureate-au.blackboard.com/bbcswebdav/xid-4650193_1 PROJ6000_assessment 2 brief.docx Page 4 of 6 Learning Rubrics Assessment Attributes Fail (0-49) Pass (50-64) Credit (65-74) Distinction (75-84) High Distinction (85-100) Evaluation of information selected to support the case study 10% Limited understanding of key concepts required to support the case study. Confuses logic and emotion. Information taken from reliable sources but without a coherent analysis or synthesis. Viewpoints of experts are taken as fact with little questioning. Resembles a recall or summary of key ideas. Often conflates/confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. Analysis and evaluation do not reflect expert judgement, intellectual independence, rigor and adaptability. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. Identify logical flaws. Questions viewpoints of experts. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Well demonstrated capacity to explain and apply relevant concepts. Viewpoint of experts are subject to questioning. Analysis and evaluation reflect growing judgement, intellectual independence, rigor and adaptability. Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Information is taken from sources with a high level of interpretation/evaluation to develop a comprehensive critical analysis or synthesis. Identifies gaps in knowledge. Exhibits intellectual independence, rigor, good judgement and adaptability. Correct citation of key resources and evidence 10% Demonstrates inconsistent use of good quality, credible and relevant resources to support and develop ideas. No justification provided on the connection between references and assessment contents. Demonstrates use of credible and relevant resources to support and develop ideas, but these are not always explicit or well developed. Some justification provided on the connection between Demonstrates use of high quality, credible and relevant resources to support and develop ideas. Well justified the linkage and connection between references and assessment contents. Demonstrates use of good quality, credible and relevant resources to support and develop arguments and statements. Shows evidence of wide scope within the organisation for sourcing evidence. Excellent justification provided on the Demonstrates use of high- quality, credible and relevant resources to support and develop arguments and position statements. Shows evidence of wide scope within and without the organisation for sourcing evidence. Expertly justified PROJ6000_assessment 2 brief.docx Page 5 of 6 There are mistakes in the APA style. references and assessment contents. There are no mistakes in the APA style. There are no mistakes in the APA style. linkage and connection between references and assessment contents. There are no mistakes in the APA style. the connection and validation between references and assessment contents. There are no mistakes in the APA style. Effective Communication 30% Demonstrate lack of communication/participation on the topic when required (in class or online or both). Written assignment is difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. Failed to explain logics and rationales in either written or verbal form when required. Demonstrate insufficient level of communication/participation on the topic when required (in class or online or both). Information, arguments and evidence are presented in a way that is not always clear and logical. Line of reasoning is often difficult to follow. Logics and rationales are vaguely explained in both written and verbal form when required. Demonstrate moderate level of communication/participation on the topic when required (in class or online or both). Information, arguments and evidence are well presented, mostly clear flow of ideas and arguments. Line of reasoning is easy to follow. Key information presented and decisions are drawn. General explanation provided to clarify logics and rationales if required. Demonstrate good level of communication/participation on the topic when required (in class or online or both). Information, arguments and evidence are very well presented; the presentation is logical, clear and well supported by evidence. Meaningful information presented to draw reasonable decisions. Logics and rationales are well explained in both written and verbal form if required. Demonstrate high level of communication/participation on the topic when required (in class or online or both). Written assignment is expertly presented; the presentation is logical, persuasive, and well supported by evidence, demonstrating a clear flow of ideas and arguments. Some raw data are being used to interpret meaningful information, and reasonable decisions are drawn. Logics and rationales are well explained in both written and verbal form if required. PROJ6000_assessment 2 brief.docx Page 6 of 6 Knowledge and understanding
Answered Same DayMar 22, 2021PROJ6000

Answer To: PROJ6000_Assessment 2 Brief.Docx Page 1 of 6 ASSESSMENT BRIEF Subject Code and Title PROJ6000...

Moumita answered on Mar 23 2021
134 Votes
Running Head: PRINCIPLES OF PROJECT MANAGEMENT             1
PRINCIPLES OF PROJECT MANAGEMENT                         7
PRINCIPLES OF PROJECT MANAGEMENT
Table of Contents
Identification and justification of the project selection methods    3
Discussion of the project selection methods    4
Benefit measurement methods    4
Constrained optimization methods    6
Non-financ
ial considerations    6
Project management body of knowledge and Initiation process groups and project documents    6
References    7
Identification and justification of the project selection methods
Woolworths has attained the status of a group of supermarket chains, which are based within the context of Australia. In that context it can be added that this supermarket chain of Australia is performing different organizational projects in case of the performances of the organisational activities in the business market of that country and also in the business market of the international world. Through the overview of the overall business, operations of the Woolworths group it is observed that the management team of this company are not able to select the effective projects in their business operations that can help them in the adoption of high rates of earning revenues.
Within this context, the management team of the organisations implements the projects selection methods for the finalisation of the appropriate projects that ensure the success of their businesses. The benefit measurement methods help the management team in the analysis of the benefits that the organisation can get with the performances of different projects. The benefit measurement method analysed the current value of the projects that the management team of Woolworths is adopting in their organisational performances (Han, Zhang & Yi, 2019). Within this context the present value of the cash flow of the project and the outflow of the cash are compared. Through the comparison of the inflow and outflow of the cash, the managers of the company can make effective decisions in case of the selection of projects in the organisational actions.
    On the other hand, the cash optimisation technique is also used for the selection of the project that is beneficial for the overall business of Woolworths. With the involvement of this project selection methods the complex calculations that are required for the calculation of the overall cost value of the projects are performed. Therefore, this method also allows the management team of the organisation to perform the larger organisational projects with the reduction of complexities from the calculation of the costs of the projects (Liu, Chen, Yang, Xu & Liu, 2019). The mentioned process analyses the required by Woolworths to get any project completed, their organisational operations and this process allows the company to perform their selected project by acquiring high cost value or profit rates.
Discussion of the project selection methods
The project selection methods are helping in the reduction of the challenges that are coming at the time of performing different projects. In that context, it can be mentioned that the involvement of the project selection method are helping business companies in terms of the maximisation process of their profit rates with the huge contexts. There are two types of project selection methods, which are presented and those methods are benefit measurement and constraint optimisation method.
Benefit measurement methods
The specific type of method is one of the project selection methods, which is reliant on the current values of the projects that are...
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